I have long believed that some alts can even take over Bitcoin, but now I see I was wrong all the way. The world ain't ready even for Bitcoin and not some other more complicated and probably less secure alts.
What we need to do is keep an eye on these alts and try to incorporate technology that they introduce into Bitcoin if it suits us. This is all that alts are good for in my opinion!
what if...
starbucks, walmart, 7eleven created a loyalty card system.
1% of all purchased gets converted to an altcoin chain,
EG
for every $1 spent puts 0.01 loyalty coins into an altcoin address linked to the customer.
with 1 coin valued at $1.
people can buy loyalty points(coins) like saving up for christmas, but the coins can only be spent instore.
instantly a coin like this will get recognition, without customers having to know about the techy stuff in the background. and making this coin more popular then bitcoin.
retailers would love it. because they wont need auditors or security teams, or having to claim it on their IRS reports, as its not fiat
Well this is a very nice idea and I bet that any altcoin would kill for this kind of recognition. This has made me thought, why would altcoins get promoted, why not do the same with Bitcoin? For every purchase, you get let's say that 100 satoshis.
Even some kind of sidechain could be developed so that fees are not paid for these little loyalty amounts!
