delaying of bitcoin upgrade mean good for altcoins - page 2.

benthach

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Quote from: dinofelis on March 17, 2017, 04:59:50 AM

Quote from: benthach on March 17, 2017, 04:51:15 AM

bitcoin is flexible and able to bend but it just not now, it have no reason and don't feel the threat for now. there is no reason for it to stand still and let the train hit it, would you do that to yourself?

No, because I'm a centralized decision taker. Bitcoin isn't. Bitcoin is a system based upon decentralized immutability. That's what it does: protect the initial protocol, whatever it is.

now picture bitcoin as a centralized decision taker just like yourself, would you think it would stand still and let the train hit it?

bitcoin foundation are bitcoin centralized decision taker. bitcoin itself is not centralized decision taker.

dinofelis

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Quote from: benthach on March 17, 2017, 04:51:15 AM

bitcoin is flexible and able to bend but it just not now, it have no reason and don't feel the threat for now. there is no reason for it to stand still and let the train hit it, would you do that to yourself?

No, because I'm a centralized decision taker. Bitcoin isn't. Bitcoin is a system based upon decentralized immutability. That's what it does: protect the initial protocol, whatever it is.

benthach

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Quote from: dinofelis on March 17, 2017, 04:45:39 AM

Quote from: mining1 on March 17, 2017, 04:40:40 AM

The more the war is going on, the more people will lose faith, the more chances for bitcoin to lose the battle to survive. Even if it mantains the crown, reputation of bitcoin as crypto king will be badly affected. People used to follow it blindly like a cult, but not anymore, this changes at a fast pace and they will think twice everytime.

But this is very good, because bitcoin's crown is hindering true competition and hence improvement in crypto. There is clunky old-tech bitcoin as king, and there are the plebs altcoins with better tech.

Once a coin (say ETH) shows that bitcoin is not the king any more, the true competition in crypto will finally break lose. This will have a lot of consequences. If bitcoin manages to keep the status of ultimate crypto reserve currency, that's OK, and people will still continue to play greater fool games. If bitcoin crumbles, then the burning by greater fool games will be so intense, that crypto will get a totally different face. It will never be considered a "store of value" any more and the greater fool games will stop. Crypto as a whole will crumble to its real economic value (which is pretty small).

It can be that we will get two or three revolutions before the greater fool game will be over, and that 2 or 3 palace revolutions will replace the current king with the new king... until one realizes that a king always ends up falling on its face.

I don't know what direction it will take.

bitcoin is flexible and able to bend but it just not now, it have no reason and don't feel the threat for now. there is no reason for it to stand still and let the train hit it, would you do that to yourself?

benthach

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Quote from: mining1 on March 17, 2017, 04:40:40 AM

The more the war is going on, the more people will lose faith, the more chances for bitcoin to lose the battle to survive. Even if it mantains the crown, reputation of bitcoin as crypto king will be badly affected. People used to follow it blindly like a cult, but not anymore, this changes at a fast pace and they will think twice everytime.

Not upgrading to keep up with the world is not immutability, period. It's just an excuse. Hardforks happen in crypto space monthly without breaking the immutability. Poor excuse for idiots.

more dramas more people will want to know about it and will stick to it like glue. read the title of my post again and again then you might get something out of it.

dinofelis

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Quote from: mining1 on March 17, 2017, 04:40:40 AM

The more the war is going on, the more people will lose faith, the more chances for bitcoin to lose the battle to survive. Even if it mantains the crown, reputation of bitcoin as crypto king will be badly affected. People used to follow it blindly like a cult, but not anymore, this changes at a fast pace and they will think twice everytime.

But this is very good, because bitcoin's crown is hindering true competition and hence improvement in crypto. There is clunky old-tech bitcoin as king, and there are the plebs altcoins with better tech.

Once a coin (say ETH) shows that bitcoin is not the king any more, the true competition in crypto will finally break lose. This will have a lot of consequences. If bitcoin manages to keep the status of ultimate crypto reserve currency, that's OK, and people will still continue to play greater fool games. If bitcoin crumbles, then the burning by greater fool games will be so intense, that crypto will get a totally different face. It will never be considered a "store of value" any more and the greater fool games will stop. Crypto as a whole will crumble to its real economic value (which is pretty small).

It can be that we will get two or three revolutions before the greater fool game will be over, and that 2 or 3 palace revolutions will replace the current king with the new king... until one realizes that a king always ends up falling on its face.

I don't know what direction it will take.

mining1

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The more the war is going on, the more people will lose faith, the more chances for bitcoin to lose the battle to survive. Even if it mantains the crown, reputation of bitcoin as crypto king will be badly affected. People used to follow it blindly like a cult, but not anymore, this changes at a fast pace and they will think twice everytime.

Not upgrading to keep up with the world is not immutability, period. It's just an excuse. Hardforks happen in crypto space monthly without breaking the immutability. Poor excuse for idiots.

dinofelis

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Quote from: mining1 on March 17, 2017, 04:38:13 AM

Survival of the fittest, adapt or die. This immutability shit going into extreme, letting the chain stop because you can't agree on upgrading is not immutability, it's stupidity.

Immutability is not a decision, it is a phenomenon. "falling from a mountain until you crash" is not stupidity, it is gravity.
The only way to break out of immutability is forking. But if your whole value depends on you being "first mover" and have nothing else going for you, forking is not appealing.

mining1

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Survival of the fittest, adapt or die. This immutability shit going into extreme, letting the chain stop because you can't agree on upgrading is not immutability, it's stupidity. And people jump boats. You can keep your 50$ "immutable" stuck chain. Do you know that it will die if panic happens and many people jump at once ? Because hashrate follows the price, bitcoin can't survive a huge price crash, because the blocktime cannot adapt to new hashrate in time. And you won't be able to send 1BTC for weeks. How many miners will mine for months losing money just to keep it alive? Wake up, is all about money, no faith.

dinofelis

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Quote from: benthach on March 17, 2017, 03:37:06 AM

everyone should thanks bitcoin right now for it delay and stay still, i personally think this is being done on purpose.

No, bitcoin is what it is and will stay that way. It is in the nature of immutable consensus systems not to change. The bickering you see in bitcoin's world is the mechanism of immutability: no agreement can be found on change, so nothing changes. It is this mechanism that protects the protocol: disagreement on change.
So don't count on bitcoin "upgrading". It won't happen.

benthach

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Quote from: thepo1m on March 17, 2017, 04:22:31 AM

99% of those Altcoins I can't touch, I look at some people gambling their Bitcoin for these shitcoins, only selected few of these coins will eventualy succeed because most of them are just experimenting ideas even some ICOs that collected huge millions will suffer this fate.

The delay is certainly helping the market and I expect this to continue for some time.

talking about experimenting, it is seem that bitcoin is using these altcoins as experiment without them knowing it. Grin

thepo1m

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99% of those Altcoins I can't touch, I look at some people gambling their Bitcoin for these shitcoins, only selected few of these coins will eventualy succeed because most of them are just experimenting ideas even some ICOs that collected huge millions will suffer this fate.

The delay is certainly helping the market and I expect this to continue for some time.

PovertyByte

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What about Ark?

benthach

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the name for most of these altcoins sound plan stupid, sometime it would make you wondered if they're being serious or just being a joker jerk to come up with it.
i don't see any of the big altcoins going to last more than 20 or even 10 years of not being going centralized. bitcoin slowly sipping 1 cup of water each day while these little punch sipping 100 gallons of water each day.
it's seem bitcoin game play is do nothing and let these little punch choke itself to death.

it's funny someone would bring a grass hopper to fight with a rooster and people would bet on a grass hopper to win.

benthach

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everyone should thanks bitcoin right now for it delay and stay still, i personally think this is being done on purpose.
chance when bitcoin feel the threat they will doing something and when they do then these altcoins wanting to compete would have no chance, it would be massive bloodbath for them.
you wouldn't never want bitcoin to be a one stop shopping center coin and soon it will be if feel the threat, bitcoin capable of this.
these little kids also need to know none of the altcoins will be adopting by the mass, period, never now and never will be.
now stop being stupid and want to compete with bitcoin because bitcoin created you and it can also destroying you. invest accordingly and shut up, you sound stupid already.

Topic: delaying of bitcoin upgrade mean good for altcoins - page 2. (Read 993 times)