@ HabBear
I do not want to create a coin to compete with the alt currency. I want to learn more about the possibilities that can be created by the coin.
Do you think that the altcoins are a phase-out model? And how do you think about what the industry needs?
I do not want to create a coin to compete with the alt currency. I want to learn more about the possibilities that can be created by the coin.
Do you think that the altcoins are a phase-out model? And how do you think about what the industry needs?
Got it, thanks for responding!
I think nearly all altcoins exist to allow a very few amount of people to create their own get-rich-quick opportunity via a pump and dump scenario. There are 200+ and I'll be generous and say that 10 have a legitimate reason for existing, but really I only think 5 are real.
There are a few core issues the industry needs to overcome:
- Transaction size limitations
- Instability of the price (limits adoption as a currency)
- True anonymity
Litecoin has already solved the size limitation and currently has a rather stable price. Bitcoin is struggling to accomplish all three. Monero offers greater anonymity. Dimcoin (I've heard) offers a novel way to allow the price to remain stable for transactions but allow appreciation for the benefit of store of value (using two coin versions).
Ethereum isn't currency, it's something entirely different, but we can talk about that if you want.
If everyone who's put money into altcoins for the purpose of hoping for their million dollar day put that money into Doge, which was a f*cking joke, they'd realize their million dollar day! That's why all but 5 altcoins are garbage, schemes, meaningless.
What are your thoughts?
