[2015-06-26] Why the Bitcoin Blockchain Beats Out Competitors

LiteCoinGuy

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Quote from: tyz on June 27, 2015, 05:09:23 AM

Quote from: LiteCoinGuy on June 26, 2015, 01:57:44 PM

Litecoins main attribution is that is has the second biggest blockchain and it could be a backup for BTC.

Do you really think that having a big blockchain is an advantage in competition towards other altcoins?

a bigger blockchain (more miners = more secure) and a bigger community + a brand (Silver=LTC). i think that are the mainparts.

gentlemand

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The same pattern seems to repeat. An innovation comes along. Companies take interest in it and decide to make their own. Funnily enough their customers wonder why the hell they should use a crippled system when the real deal is out there waiting for them.

Microsoft's 'internet' didn't last too long.

tyz

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Quote from: LiteCoinGuy on June 26, 2015, 01:57:44 PM

Litecoins main attribution is that is has the second biggest blockchain and it could be a backup for BTC.

Do you really think that having a big blockchain is an advantage in competition towards other altcoins?

jdebunt

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These uneducated "journalists" will never learn it seems...

LiteCoinGuy

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Quote from: Chef Ramsay on June 26, 2015, 07:49:42 PM

So, pretty much the main point of the article is that Bitcoin's chain is going no where and there is no serious competition going on at this point. Check

a valid summary Wink

Chef Ramsay

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So, pretty much the main point of the article is that Bitcoin's chain is going no where and there is no serious competition going on at this point. Check

LiteCoinGuy

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Quote from: unamis76 on June 26, 2015, 01:12:55 PM

I agree with the above post... Why the hell did they give such examples? I've searched for altcoins quite a bit of time and I haven't really seen one that can overtake Bitcoin. Litecoin is good, as it is very similar to Bitcoin, but that's pretty much it.

Ethereum is one of those things that I never really understood. They do have good ideas, but that's pretty much it, ideas. I'm not even commenting on Ripple, and the last example I didn't knew about... I don't see people wasting electricity for ZERO reward. Why would and why should people mine for no reward?!?

The only altcoins that seemed promising are either stuck, or don't have the manpower...

i think that something will overtake bitcoin is very unlikely at this stage.

if you are the number two crypto (Litecoin) you already did a great job. Litecoins main attribution is that is has the second biggest blockchain and it could be a backup for BTC.

unamis76

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I agree with the above post... Why the hell did they give such examples? I've searched for altcoins quite a bit of time and I haven't really seen one that can overtake Bitcoin. Litecoin is good, as it is very similar to Bitcoin, but that's pretty much it.

Ethereum is one of those things that I never really understood. They do have good ideas, but that's pretty much it, ideas. I'm not even commenting on Ripple, and the last example I didn't knew about... I don't see people wasting electricity for ZERO reward. Why would and why should people mine for no reward?!?

The only altcoins that seemed promising are either stuck, or don't have the manpower...

DooMAD

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Leave no FUD unchallenged

Quote from: LiteCoinGuy on June 26, 2015, 12:18:22 PM

Why the Bitcoin Blockchain Beats Out Competitors

In the six years since Bitcoin’s debut, there have been no shortage of attempts to repeat its success. Thousands of blockchains have arrived and fizzled out without much fanfare. But many hold out hope that one day an alternative contender will succeed. Amongst the countless options that are currently available, there are currently three notable contenders that have managed to gather the most attention — largely because they take heretical approaches to the problems the Bitcoin blockchain solves.

http://www.americanbanker.com/bankthink/why-the-bitcoin-blockchain-beats-out-competitors-1075100-1.html

Odd that the three examples given are, in fact, among the least promising contenders to take on Bitcoin. Ethereum has already been beaten to the punch by other alts. All the features they were promising are already available and working in other coins. Ripple is nothing more than an IOU and has little of anything to offer. Their third and final example just sounds like some DIY make-your-own-crapcoin platform which doesn't sound like it would appeal to anyone in terms of a global payment network. The potential applications for their platform sound decidedly more targeted and specific. In that sense, it's not a competitor at all, since it would be offering solutions for problems that people wouldn't be using Bitcoin for anyway.

LiteCoinGuy

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Why the Bitcoin Blockchain Beats Out Competitors

In the six years since Bitcoin’s debut, there have been no shortage of attempts to repeat its success. Thousands of blockchains have arrived and fizzled out without much fanfare. But many hold out hope that one day an alternative contender will succeed. Amongst the countless options that are currently available, there are currently three notable contenders that have managed to gather the most attention — largely because they take heretical approaches to the problems the Bitcoin blockchain solves.

http://www.americanbanker.com/bankthink/why-the-bitcoin-blockchain-beats-out-competitors-1075100-1.html

Topic: [2015-06-26] Why the Bitcoin Blockchain Beats Out Competitors (Read 585 times)