Topic: Hello! From a long time lurker (Read 608 times)

He's better talk on the bitcointalk forum, it may be more profitable. The only thing you lose is time, but if you enjoy it nothing is lost 


Why another alt coin? There are more than 200 of them, see: http://coinmarketcap.com/ 
Most of them are pump&dump.

Well your approach was indeed very wise and sure you don't see the risk involved in his approach to crypto.
He trashed at least 1 full monthly pay on 1st-gen ASICS so my warning to him was not because I was scared or something but because in Dec 2013 as you know, those things barely make up for their operating costs, let alone the initial investment.

To be honest, I don't quite like BTC itself but rather the idea of cryptocurrency. I'll be roaming the altcoin forums mostly. BTC is mature and ready to be used but I think the block time is way too long for brick-n-mortar. Furthermore I'm scared about the centralization. I consider it a very successful proof of concept more than something that was built to last. I believe Satoshi knew big money BTC mining would have become very profitable, and I believe he allowed that to happen because he knew crypto needed to attract big investors to get them kickstarted somehow. By this perspective, everything is a total success.

I believe we need an altcoin, but I'm not sure what it will be. So far I've been looking at LTC, VTC and MYR. There's indeed something interesting ahead.

Many people are scared of new technologies. This has been the case with the first train, the first airplanes etc. Sure there is always risk, but if you get the BTC for simple tasks  you are not losing anything. For example, I get BTC for talking on these forums and enjoy it   So in that way, the risk is very low, my life does not depend on it. In addition, there are extra features: like if I have family in the other side of the world, I can send a family member some money which arrives in 5 minutes, from which they can buy a nice present.
When you get used to bitcoin, the 1-3 workdays waiting for money transfer just become completely absurd. You may know how fast we can get used to new technologies.. its been only like what.. 10-15 years since most people get mobile phones?



Things do not happen overnight. I remember as a kid, back in the 90s, that you had like 5 websites you could visit, one of them being Yahoo. And you could do this cool stuff like search or email.  At the time people would say 'Why would I need the web? nobody is going to need it'. Look at where we are today.  Change always takes time, and within 5 years Bitcoin has caused a lot of change already.  Remember that Bitcoin is not like some silly website like Twitter, but a completely new technology.

Bitcoin has the network effect, like a phone has.  https://en.wikipedia.org/wiki/Network_effect. The more people use Bitcoin, the more valuable it becomes. There are at least 4400 bitcoin accepting stores right now. You are still an early adapter if you join. The features of digital currencies are too good to just ignore, it can make life much easier for tourists, shopping, business etc.

Imagine the situation, say 10 years from now, by which you take an airplane to the other side of the world. You can pay everything you want directly with bitcoin. No need for changing currency.. easy right? In addition, you would understand the value of things.. if you say $2 you may know what its worth, but what about 378 japanese yen. its much or few? so I think cryptocurrency will be benefitial in this area.

For online shopping it is troublesome to go trough process of forms, registrations.. I want to be able to buy things online with one mouse click.  

Give it some time.

Hello Bitcoin forums!
I've heard about BTC quite some time ago but I'm always pretty much in a hurry and I couldn't dedicate enough attention to the cryptocurrency revolution.
Some months ago however, a friend of mine contacted me with this "free money" thing. I wasn't quite on that mindset and I warned him of the risk with no benefit. His plans very likely hit a wall, but I decided to research a bit on crypto to update my skillset to more modern programming techniques.

So far, I've been on LTC forums for a while but I'm not at ease with the dudes here, nor with LTC itself. I have always been uncomfortable since day one, and after I discovered what scrypt really is, I was even more uncomfortable. While I was thinking about those things, GridSeeds were released and we now know how it goes.

The LTC forums are really odd. They are full of people involved other coins (not even scrypt-only). I think the bitcoin forums are the only ones where altcoins discussions should really take place as they all stem from it but each alt should be fairly more focused in my opinion.

By the way, I am somewhat surprised this cryptocoin revolution really isn't a revolution at all yet. I know cryptocurrency is already pretty much a success in many financial uses but I wonder how much time it will take for cryptocurrency to get in the day-to-day business. I'll sure want to see that happen!