Another reason why bitcoin fails | Bitcointalksearch.org

dothebeats

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Quote from: FUR11 on February 26, 2015, 03:38:00 PM

Quote from: kwukduck on February 26, 2015, 01:16:53 AM

Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.

It's not the same coin and the supply doesn't 'magically' add up together. It just doesn't work that way. If people agree that Bitcoin - and only Bitcoin - is worth something, it will be worth something just because of that. Sure, altcoins siphon off a small fraction, but that doesn't change Bitcoins first mover advantage which is most important in this case!

Agreed. There is a limited supply though, and you can't change that.

Quote

So the real supply is infinite

False.

tss

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Quote from: ThatDGuy on February 26, 2015, 02:21:41 PM

Quote from: kwukduck on February 26, 2015, 01:16:53 AM

Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.

This might be the stupidest thing I've read on this forum.... no small feat.

agreed. but op keeps trying over and over again.

FUR11

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FURring bitcoin up since 1762

Quote from: kwukduck on February 26, 2015, 01:16:53 AM

Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.

It's not the same coin and the supply doesn't 'magically' add up together. It just doesn't work that way. If people agree that Bitcoin - and only Bitcoin - is worth something, it will be worth something just because of that. Sure, altcoins siphon off a small fraction, but that doesn't change Bitcoins first mover advantage which is most important in this case!

btcxyzzz

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Monero - secure, private and untraceable currency.

What a stupid thread.

ThatDGuy

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Quote from: kwukduck on February 26, 2015, 01:16:53 AM

Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.

This might be the stupidest thing I've read on this forum.... no small feat.

Blazr

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Quote from: dothebeats on February 26, 2015, 01:56:20 PM

Hahaha! One does not simply do that. But since you said that you've already done that, can you teach me how to print my own USD notes and strategies on how to dump them? Grin

Very simple. you take a piece of paper and write "$1 million monopoly dollars" on it. Then you go on the internet and create a bunch of shill accounts and start shilling the fuck out of your monopoly dollars. Then you go around to local businesses and continuously nag them to accept monopoly dollars as payment. Because your monopoly USD has the same fundamentals as USD and is interchangeable 1 on 1, you will essentially double the money supply of the real USD, just like the OP proved in this very informative and useful thread.

By the way, this technique works with anything. I made my own "better version" of gold recently and tripled the supply of gold.

thebitcoinquiz.com

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Quote from: dothebeats on February 26, 2015, 01:56:20 PM

Quote from: Blazr on February 26, 2015, 12:18:51 PM

Quote from: kwukduck on February 26, 2015, 01:16:53 AM

Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.

Yeah I know. I printed my own monopoly USD notes yesterday, they work just the same as normal USD notes. You can blame me for the latest "whale-dump" on USD. SARCASM

Hahaha! One does not simply do that. But since you said that you've already done that, can you teach me how to print my own USD notes and strategies on how to dump them? Grin

You missed a word in it. I have marked it for you.

dothebeats

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Quote from: Blazr on February 26, 2015, 12:18:51 PM

Quote from: kwukduck on February 26, 2015, 01:16:53 AM

Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.

Yeah I know. I printed my own monopoly USD notes yesterday, they work just the same as normal USD notes. You can blame me for the latest "whale-dump" on USD.

Hahaha! One does not simply do that. But since you said that you've already done that, can you teach me how to print my own USD notes and strategies on how to dump them? Grin

Blazr

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Quote from: kwukduck on February 26, 2015, 01:16:53 AM

Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.

Yeah I know. I printed my own monopoly USD notes yesterday, they work just the same as normal USD notes. You can blame me for the latest "whale-dump" on USD.

NotLambchop

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Ohai srs Monero ^ d00d!

hodlmybtc

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Lol is anyone still taking this troll seriously? Roll Eyes

NotLambchop

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^Seems like the keg's dry. Party's over Sad

*you didn't think it was gonna last, did you?

arvindr

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Quote from: NotLambchop on February 26, 2015, 11:41:00 AM

Quote from: dothebeats on February 26, 2015, 10:50:39 AM

Quote from: kwukduck on February 26, 2015, 01:35:28 AM

Just peg it... Make your own exchange point..

No demand but a lot of supply = a low price. There are not enough demands on the buyer's side for the price to be high...

Yeah, 3,600 Bitcoins ~~printed out of thin air~~ mined every day... No wonder BTC's tanking Cry

Well , thats been happening since a long time.

NotLambchop

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Quote from: dothebeats on February 26, 2015, 10:50:39 AM

Quote from: kwukduck on February 26, 2015, 01:35:28 AM

Just peg it... Make your own exchange point..

No demand but a lot of supply = a low price. There are not enough demands on the buyer's side for the price to be high...

Yeah, 3,600 Bitcoins ~~printed out of thin air~~ mined every day... No wonder BTC's tanking Cry

Madness

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My goal is becaming a billionaire.

Nah , It dosen't really matter how much Alternative coin there is out there because they are all cheap copies and Bitcoin is the Original thing . In my opinion they cna do what ever they wants but it will never affects on Bitcoin .

~ Madness

AtheistAKASaneBrain

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Quote from: kwukduck on February 26, 2015, 01:16:53 AM

Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.

This is ridiculous. You need a big network and volume for a coin to work, so its not a problem.

dothebeats

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Quote from: kwukduck on February 26, 2015, 01:35:28 AM

Just peg it... Make your own exchange point..

No demand but a lot of supply = a low price. There are not enough demands on the buyer's side for the price to be high. The coin creator cannot declare his own price since people wouldn't buy it out because of the fact that it's a new coin and nothing has been proven out of it.

RodeoX

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The revolution will be monetized!

Don't worry OP. my new MindCoin has a very limited circulation. I just think them up in batches and I have a great deal for you that will assuage your fears about supply. The exchange rate my mind came up with is 2BTC= 1MC. I will trade you any and all of your worthless, overproduced BTC for my completely hackproof MindCoins! It's your lucky day!!!!111!11!!

Now who should send first?

NUFCrichard

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Quote from: kwukduck on February 26, 2015, 01:16:53 AM

Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.

That is utter tosh, if that is true, why don't you do it and show us?
You can even keep all of the coins and you have made yourself a few billion. Unless someone actually calls on you to interchange the token for bitcoin, which you can't, because you don't have them..

Your reasoning would be the same for normal money too, ignore market forces, rates etc, I sa it is worth 1:1, so it is Huh

Q7

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It all depends on whether you want to buy into or invest on the other altcoins. I think a lot had bad experience before with alts so generally people would be wiser by now. Most of it doesn't last for over a year and eventually the fund will keep pouring back again into bitcoin. The only worry is that bag holders of the altcoins will lose trust in cryptos in general once they got cheated.

Topic: Another reason why bitcoin fails (Read 2677 times)