Overcoming Cryptocurrency’s Negative Reputation: A Battle Between Bitcoin and Big Eyes Coin

by James · April 24, 2023

worthless gambling token and refuses to consider it as a possible currency for the future. However, despite Buffett’s stance, many financial experts disagree with his perspective. Following Bitcoin’s price surge to $30,000, CEO Cathie Wood of ARK Invest ( ARKK ) has doubled her Bitcoin price target, further fueling the ongoing debate among financial experts. So which side of the cryptocurrency debate do you support?

Table of Contents

Bitcoin’s Resilience: Why People Keep Investing Despite Volatility and Controversy

Bitcoin (BTC) was established in 2019 by an unidentified person who goes by the name Satoshi Nakamoto, and it was the pioneering cryptocurrency that introduced us to the characteristics of cryptocurrencies as we know them today. These include its digital nature, which enables online transactions, the ability to store or generate BTC on personal devices instead of relying on banks, fast transaction processing, and enhanced security features that protect against payment fraud and identity theft.

However, as Bitcoin gained popularity, it was plagued by issues such as scalability issues and the significant energy consumption associated with the mining process. In fact, the mining of Bitcoin has resulted in the emission of up to 200 million tons of carbon dioxide in the cryptocurrency’s short life, which has contributed to the cryptocurrency’s negative perception.

These problems have hindered the mass adoption of digital currencies and have positioned cryptocurrencies like Bitcoin as vulnerable to exploitation by investors who manipulate the volatile market. However, the new wave of blockchain technology is focused on long-term sustainability, aiming to prove skeptics like Warren Buffet wrong and achieve mainstream adoption.

Building a sustainable future for Blockchain with Ethereum

Like Bitcoin, Ethereum (ETH) originally used the Proof of Work (PoW) mining protocol, which caused energy inefficiencies with the blockchain. Consequently, Ethereum needs to reduce its energy consumption by 99.5% to prevent scalability issues.

To solve this problem, Ethereum is upgrading to Ethereum 2.0, which overhauls its infrastructure and adopts the Proof of Stake (PoS) mining protocol – the most energy-efficient method of scaling cryptocurrencies. Other emerging cryptocurrencies are also implementing the PoS protocol. However, Ethereum is distinguished as an open source blockchain-based platform that enables developers to launch decentralized applications. The platform’s economy uses ETH to stimulate business growth on the platform.

Big Eyes Coin: Prioritizing community and sustainable growth

The alternative coin (altcoin) landscape encompasses a variety of offerings from reputable developers seeking to innovate to shady individuals seeking to profit from their projects through fraudulent schemes.

Big Eyes Coin (BIG) is committed to being a reliable and ethical player in this field and has taken the necessary measures to establish its credibility. BIG has undergone Know Your Customer (KYC) verification and has had its smart contracts audited by Coin Sniper and Solidity Finance. In addition, BIG uses a Proof of Stake (PoS) consensus mechanism to ensure sustainable scalability.

Furthermore, BIG has pledged to donate 5% of its total supply to charity, allowing the community to choose environmentally conscious charities to support. These sustainable goals align with BIG’s commitment to ethical practices and long-term viability in the altcoin space.

Sustainable cryptocurrencies: the key to achieving mass acceptance?

Cryptocurrencies like BIG and ETH inherit the basic characteristics of BTC, but they go a step further by prioritizing sustainability to ensure better scalability in the future. This is why many financial experts remain optimistic about the future of cryptocurrencies, even amid volatility and concerns about government regulation. These sustainable altcoins retain the original values of cryptocurrencies while taking steps toward long-term viability, making them promising candidates for mainstream acceptance.