The only one worth watching is Dash
I concur with DASH
Topic: Competition of BTC - page 3. (Read 3455 times)
I concur with DASH
The only one worth watching is Dash
Ethereum could be big one day but right now its too small. It needs time to evolve.
Ethereum could be big one day but right now its too small. It needs time to evolve.
DASH? Monero has Ring CT and will spank Dash hard.
The only one worth watching is Dash
Ethereum could be big one day but right now its too small. It needs time to evolve.
Ethereum could be big one day but right now its too small. It needs time to evolve.
A common thing people fall for is taking exchange action as any type of indicator of adoption. It's just the same old group of people moving to wherever the action is.
There are some alts making actual progress in commercial applications such as ETH and NEM but they're still effectively nowhere.
My feeling is that if there is to be something that dwarfs Bitcoin it'll have to be attached to something that has a userbase that's already ensnared. Perhaps that's an app or major online business but even then I can't see them creating something similar to BTC at heart.
On the path it's presently on, I can't really foresee Bitcoin ever becoming a world beater. I think its ideas will make more conventional setups function better and some powerful niches will spring up. The human nature of those presently involved - greed, tribalism, short termism - wider human nature - adversity to risk and actually bothering to learn what new shit means - and The Man himself will quite possibly ensure it never really fulfills its true potential.
There are some alts making actual progress in commercial applications such as ETH and NEM but they're still effectively nowhere.
My feeling is that if there is to be something that dwarfs Bitcoin it'll have to be attached to something that has a userbase that's already ensnared. Perhaps that's an app or major online business but even then I can't see them creating something similar to BTC at heart.
On the path it's presently on, I can't really foresee Bitcoin ever becoming a world beater. I think its ideas will make more conventional setups function better and some powerful niches will spring up. The human nature of those presently involved - greed, tribalism, short termism - wider human nature - adversity to risk and actually bothering to learn what new shit means - and The Man himself will quite possibly ensure it never really fulfills its true potential.
It is always important to keep track of the altcoins. Not only are they testing new technologies for potential integration into bitcoin, they also can serve as a hedge when bitcoin is unsure.
From a speculation point of view, correctly timed entries in altcoins (clear all time bottoms with peak patterns) can make you much more than trading bitcoin all day.
From a speculation point of view, correctly timed entries in altcoins (clear all time bottoms with peak patterns) can make you much more than trading bitcoin all day.
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a) It actually isn't anonymous at all. Indeed, build the right infrastructure around it and every single transaction is trackable, forever! Bitcoin was billed as Magic Internet Money of Freedom but this all sounds a bit 'Evil Empire' to me.
a) It actually isn't anonymous at all. Indeed, build the right infrastructure around it and every single transaction is trackable, forever! Bitcoin was billed as Magic Internet Money of Freedom but this all sounds a bit 'Evil Empire' to me.
I updated my post - what I really meant for the group number 1 was 'Improved Privacy'. The CryptoNote based coins and Zcash try to fix exactly this. Do you think they could replace Bitcoin?
Like I said.....I know little to nothing about technical aspects of Bitcoin or cryptos in general...
But for me to *like* a crypto, the belief in unassailable privacy is essential.
For me to like a Crypto as an investment, I would have to see this crypto being used on the Darknet market places but right now, Bitcoin has that market stitched right up and this is unlikely to change anytime soon, a Bitcoin 'death event' notwithstanding.
Hard to see how any of the Alts, no matter how well designed they are, are going to hold a candle to Bitcoin, so long as Bitcoin is still alive. For an Alt to supercede Bitcoin, it would take mass establishment sponsorship, but that aint likely to happen to any Crypto currency that is good for the little guy.
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a) It actually isn't anonymous at all. Indeed, build the right infrastructure around it and every single transaction is trackable, forever! Bitcoin was billed as Magic Internet Money of Freedom but this all sounds a bit 'Evil Empire' to me.
a) It actually isn't anonymous at all. Indeed, build the right infrastructure around it and every single transaction is trackable, forever! Bitcoin was billed as Magic Internet Money of Freedom but this all sounds a bit 'Evil Empire' to me.
I updated my post - what I really meant for the group number 1 was 'Improved Privacy'. The CryptoNote based coins and Zcash try to fix exactly this. Do you think they could replace Bitcoin?
In determining bitcoin price it is important to keep track of the alternatives.
Most of the alts are just copy cats - improving on some meaningless aspect (like the time for newblocks) - but there are some that do try to improve something that might have an impact.
I would group them in three groups:
1) Improved Security. There are coins based on CryptoNote https://cryptonote.org/inside - but it is not clear for me how sound this approach is. Now we have a well founded startup with Zcash. This is the area where improvements seem inevitable, some for sure will be incorporated into BTC - but some others will require too much change for that.
2) The craziness of the Proof of Work economy. I will not elaborate on this - not everyone agrees with this view. PeerCoin tried the alternative Proof of Stake approach - but can this be really decentralized?
3) Ethereum - has its own category. Very ambitious. I don't quite understand it in its entirety. A programmer in me is sceptical about so complex projects - at least in any timeframe that would make it financially feasible.
The current blocksize crisis can create another fourth group for systems with bigger throughput than BTC.
What are your views. Do you think that BTC could be passed in popularity by some alternative? In what timeframe? Personally I believe that given enough time there surely will be some coin that would be better than BTC in some important aspect - alternatively BTC would have to hard fork more often.
Most of the alts are just copy cats - improving on some meaningless aspect (like the time for newblocks) - but there are some that do try to improve something that might have an impact.
I would group them in three groups:
1) Improved Security. There are coins based on CryptoNote https://cryptonote.org/inside - but it is not clear for me how sound this approach is. Now we have a well founded startup with Zcash. This is the area where improvements seem inevitable, some for sure will be incorporated into BTC - but some others will require too much change for that.
2) The craziness of the Proof of Work economy. I will not elaborate on this - not everyone agrees with this view. PeerCoin tried the alternative Proof of Stake approach - but can this be really decentralized?
3) Ethereum - has its own category. Very ambitious. I don't quite understand it in its entirety. A programmer in me is sceptical about so complex projects - at least in any timeframe that would make it financially feasible.
The current blocksize crisis can create another fourth group for systems with bigger throughput than BTC.
What are your views. Do you think that BTC could be passed in popularity by some alternative? In what timeframe? Personally I believe that given enough time there surely will be some coin that would be better than BTC in some important aspect - alternatively BTC would have to hard fork more often.
Don't know a lot about the technicalities of Cryptos and am not really inclined to find out....but....what puts me off Bitcoin is:
a) It actually isn't anonymous at all. Indeed, build the right infrastructure around it and every single transaction is effortlessly trackable, forever! Bitcoin was billed as Magic Internet Money of Freedom but this all sounds a bit 'Evil Empire' to me.
b) Bitcoin wealth is in far too few hands.
c) Mining is also being increasingly centralised, with small time miners being ousted out the game quite some time ago, leaving the game to operations with major capital behind them.
d) Bitcoin market has turned into nothing more than a cash cow for those who hold the greatest amount of Bitcoin wealth. Spot price as defined in the first instance largely on the Chinese exchanges, is entirely manufactured. BTC market is driven by big players, up and down, with the intent of extracting as much wealth as possible from the market. These days, we have entire daily candles covering $50 of price movement behaving like a FU move on the 15 minute charts. It is quite frankly, fucking ridiculous.
I think I am instinctively with Mike Hearn, when in his parting shot with Bitcoin, he alluded to BTC basically being under the control of the Chinese, who are intent on holding BTC back, to satisfy their own narrow gains.
I don't like BTC for what it is, or rather, for what it has become. However, I still see plenty upside potential in it for all the wrong reasons. If a trader can become astute in reading where the Market Makers are going to ramp and dump Bitcoin to, then there is clearly good profits to be made, although easier said than done, with all the FU moves (moves that occur purely in order to Stop traders out of positions......I have been deprived of literally, thousands of USD due to being Stopped Out on what prove to be no more than FU moves, and there is a good reason why this keeps happening to me, and to plenty others). Also, I could easily imagine a situation somewhere down the line, where BTC picks up traction as a means of Capital Flight out of China. When this happens, and BTC has a *real* reason to grow, other than the usual pump n dump machinations of those who control the market, I could see staggering highs being hit.....before the Chinese government clamp down on Bitcoin once and for all, ban it outright, close down the exchanges, and the mining operations....and man oh man.....when that happens, cash out your BTC, get your money off the i
In speculating on bitcoin price it is important to keep track of the alternatives.
Most of the alts are just copy cats - improving on some meaningless aspect (like the time for newblocks) - but there are some that do try to improve something that might have an impact.
I would group them in three groups:
1) Improved Privacy. There are coins based on CryptoNote https://cryptonote.org/inside - but it is not clear for me how sound this approach is. Now we have a well founded startup with Zcash. This is the area where improvements seem inevitable, some for sure will be incorporated into BTC - but some others will require too much change for that.
2) The craziness of the Proof of Work economy. I will not elaborate on this - not everyone agrees with this view. PeerCoin tried the alternative Proof of Stake approach - but can this be really decentralized?
3) Ethereum - has its own category. Very ambitious. I don't quite understand it in its entirety. A programmer in me is sceptical about so complex projects - at least in any timeframe that would make it financially feasible.
The current blocksize crisis can create another fourth group for systems with bigger throughput than BTC.
What are your views. Do you think that BTC could be passed in popularity by some alternative? In what timeframe? Personally I believe that given enough time there surely will be some coin that would be better than BTC in some important aspect - alternatively BTC would have to hard fork more often.
Most of the alts are just copy cats - improving on some meaningless aspect (like the time for newblocks) - but there are some that do try to improve something that might have an impact.
I would group them in three groups:
1) Improved Privacy. There are coins based on CryptoNote https://cryptonote.org/inside - but it is not clear for me how sound this approach is. Now we have a well founded startup with Zcash. This is the area where improvements seem inevitable, some for sure will be incorporated into BTC - but some others will require too much change for that.
2) The craziness of the Proof of Work economy. I will not elaborate on this - not everyone agrees with this view. PeerCoin tried the alternative Proof of Stake approach - but can this be really decentralized?
3) Ethereum - has its own category. Very ambitious. I don't quite understand it in its entirety. A programmer in me is sceptical about so complex projects - at least in any timeframe that would make it financially feasible.
The current blocksize crisis can create another fourth group for systems with bigger throughput than BTC.
What are your views. Do you think that BTC could be passed in popularity by some alternative? In what timeframe? Personally I believe that given enough time there surely will be some coin that would be better than BTC in some important aspect - alternatively BTC would have to hard fork more often.
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