Weiss Cryptocurrency Ratings implies Bitcoin copycats have no good future

The recent research by Weiss, a cryptocurrency rating firm, tells about the nature of various Bitcoin imitators. They will never get the same popularity as the original Bitcoin has, the report authors imply. As a reminder, every such imitator has a distinctive feature which Bitcoin does not, but this is clearly not enough to attract the attention of the major exchanges and investors.

And while there is little reason to believe that Bitcoin Gold fans would be seriously frustrated by this statement (the currency was clearly one of the first experiments on the concept of ASIC defense), Bitcoin Cash supporters often react nervously to attempts to undermine the value of their altcoin.

Among other notable points in the report, there is a description of various Bitcoin flaws, which a good market observer has to know in order not to get into wishful thinking. Authors tell about the difficulty of Bitcoin protocol upgrades, transactions’ slow speed, the lack of proper settlement finality or the underdeveloped final approval of transactions, and the limited supply which seriously contradicts the concept of a liquid currency. Instead, it turns Bitcoin into an asset or a store of value.

Other negative sides of Bitcoin have been recently outlined by one of the members of the University of Sydney — and the limited supply of coins has also been described as harmful for this cryptocurrency.

Image courtesy of CW