In the long run, bitcoin will be worth $0. - page 3.

tonto

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Quote from: deathcode on April 26, 2013, 08:42:19 AM

Quote from: afbitcoins on April 26, 2013, 04:46:23 AM

Betamax was a superior technology than VHS but it never took off

+1

it's all about adoption and what is a standard. I don't see the media talking about litecoin do ya?
Not always the best makes it to the most adopted.
I think bitcoin will have upgrades to make it lightweight and more efficient, hell I even think that a branch of bitcoin maybe something like bitcoinX/bitcoin 2.0 whatever you want to call it will take over and people will be able to transform their old bitcoins to the new version of the coins for free or something.

But litecoin *isn't* better. It's faster, but in this case it's not better. It's also going to have more coins, which devalues each one, and it was only created because someone missed the gravy train of early bitcoin mining and they wanted to try to get rich.

At least namecoin had another intended purpose that was interesting in concept.

Sitarow

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Quote from: afbitcoins on April 26, 2013, 04:46:23 AM

Betamax was a superior technology than VHS

Really?

Could record your shows longer? No.
Devices were cheaper? No.
Had more shows to watch? No.

Guess the only thing going for it was a few extra lines of resolution... Hmm.

4-6 hour TV recording won that battle with the common user.

If its easy to use and adopt,
If it is accepted "everywhere" for trade,
and if it serves a common need to the majority of prospective adopters.

Then it wins.

As far as bitcoin vs litecoin speculative value just remember that the ~~customers~~ adopters perspective becomes the reality.

bitcon

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Quote from: mmortal03 on April 26, 2013, 06:41:51 PM

Quote from: NikolaTesla on April 26, 2013, 04:22:13 AM

Sure, they'll still be collected as vintage items for their sentimental value the way old NES games are still collected. But mining them will be easy enough that they'll have no real value.

How would that be, given that mining becomes more and more difficult over time by design?

less ppl mining = difficulty drops

mmortal03

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Quote from: NikolaTesla on April 26, 2013, 04:22:13 AM

Sure, they'll still be collected as vintage items for their sentimental value the way old NES games are still collected. But mining them will be easy enough that they'll have no real value.

How would that be, given that mining becomes more and more difficult over time by design?

drnick

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Quote from: zoolander on April 26, 2013, 08:05:50 AM

If there is anything that working in the technology industry has taught me it's that successful technologies are rarely without huge design flaws or weaknesses. In fact, those flaws and weakness often foster an eco-system of early adopters and businesses that develop to services and products to "fix" things and this in itself has a powerful viral/network effect. For example, look at the Bitcoin services offered to merchants.

Don't get me wrong Bitcoin's future is far from certain and has a high chance of failure, but don't under-estimate the ingenuity of people to work around the problems we see today, especially when motivated by sizeable financial opportunities that simply don't exist in the alternatives right now.

I totally agree. I initially had some apprehensions about bitcoin because of it's potential flaws and the endless possibilities for creating new currencies. But, the community around bitcoin has significant investments into it, and any flaws with real threats to bitcoins existence will be addressed quickly by all the miners and developers who have a vested interest.

Anyone creating an alternative currency will have their own vested interest. If it's the government, it will work in favor for the government. If it's a business or individual, it will work in favor for them. So what motive does anyone have to adopt them vs bitcoin?

If it's someone truly altruistic who just wants to make the world's fairest alt. coin, he will have a hard time finding supporters and in particular evangelists where there is nothing in it for them.

pyromaniac

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Quote from: johnyj on April 26, 2013, 01:43:31 PM

In the long run, we are all dead...

I confirm that. But when - that's the question! Useless clones are made specially for killing bitcoin. So, if we will not use them, they just disappear without any harm to bitcoin. Dont use new alt coins!
P.S. Someone has invested too much of money into BTC to lose them. And he/they will not give up without fight.

bitcon

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minidisks were way better than CD's. i wish that technology would have beat Compact Disks, then i wouldnt have so many scratched CDs. But any type of cryptocurrency officially released by the govt/banks will be so regulated and taxed that people will realize the benefits of bitcoin.

OP ignored.

XXthetimeisnowXX

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a wolf in sheeps clothing. suckerfish

Quote from: Homebrewman on April 26, 2013, 02:18:54 PM

This guy flip flops more than Mitt Romney! Amirite?

hahaha love this!!

Homebrewman

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This guy flip flops more than Mitt Romney! Amirite?

BTC-Market

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Quote from: organofcorti on April 26, 2013, 11:15:58 AM

Quote from: BTC-Market on April 26, 2013, 11:13:22 AM

There's 4 threads on the Spec forum by NikolaTesla, each one is FUD.

Just a few days ago he made a thread complaining about how people who get out spam the forum with FUD. Now I guess he sold his position at a bad spot.

I guess the more shit-slinging there is in the speculation forum, the more people are desperate to buy back in.

Each one except for this one. Saying something is FUD doesn't make it so. I can't see how bitcoin wont be outgrown at some point.

Same could be said of many currencies and tickers. The question is "when". We do live in an ever-changing world after all. So yes, this thread is textbook FUD because OP wants a cheaper buy-in after having sold at 135.

bitleif

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I'm always grumpy in the morning.

Quote from: Peter Lambert on April 26, 2013, 01:31:01 PM

To me, the differences between bitcoin and litecoin seem superficial. They have a different number of total coins, but that just affects the exchange rate, you just divide by a different number when converting a price from USD to BTC/LTC. The blocks come faster, but you need to wait for more blocks to get the same confirmational surety, so you end up waiting just as long anyway. The difference in algorithm is no difference to me, since that is all under the hood so to speak, until one or the other is cracked they are the same to a user.

That's my impression too, no real benefit to litecoin over BTC propper. It's great to keep alternative networks and technologies alive though as redundancy. But I can see merchants and services wanting to standardize around one network eventually, and right now that looks to be bitcoin.

johnyj

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Beyond Imagination

In the long run, we are all dead...

Peter Lambert

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It's all fun and games until somebody loses an eye

Quote from: Matthew N. Wright on April 26, 2013, 12:53:54 PM

Quote from: Peter Lambert on April 26, 2013, 12:31:18 PM

The only way some other cryptocurrency will overtake bitcoins is if it brought something new, so you would not have to compare it to bitcoins. Why get a copy when you can just use the original?

Why get silver when you can just get gold? Why get a Honda when you can just get a Ford? Why get a double-cheeseburger when you can get just a cheeseburger?

I take it by your generalizations that you either A) don't understand the differences between Bitcoin or Litecoin; or B) you understand them better than I, have come to the conclusion that they don't matter, but refuse to explain why in any sort of detail.

Gold is like 1500 $/ounce, silver is like 30 $/ounce, so if you want to buy in increments of a couple hundred dollars, then silver might be better for you. Until a satoshi is worth a significant amount there will be no need to make a cryptocurrency with a more granular unit than bitcoins.

If I drive a honda and you go out and buy a ford, it does not make the road any less useful to me. But if we each pick different cryptocurrencies, then they are all less useful because less people will accept them.

A double-cheeseburger adds benefits to the cheeseburger (more meat), and so people want it.

To me, the differences between bitcoin and litecoin seem superficial. They have a different number of total coins, but that just affects the exchange rate, you just divide by a different number when converting a price from USD to BTC/LTC. The blocks come faster, but you need to wait for more blocks to get the same confirmational surety, so you end up waiting just as long anyway. The difference in algorithm is no difference to me, since that is all under the hood so to speak, until one or the other is cracked they are the same to a user.

Zedster

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Quote from: afbitcoins on April 26, 2013, 04:46:23 AM

Betamax was a superior technology than VHS but it never took off

This was largely because the porn industry adopted VHS. As with a lot of tech porn will lead the way. So more BTC porn!

Oh and btw Bitcoin is still in beta actually and a lot can change so keep your pants on there troll master OP.

wachtwoord

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Quote from: Newscastix on April 26, 2013, 05:03:36 AM

OP is sorta right in the same as saying the dollar will be worthless in the long run as it will be replaced at some point in time....

so yes... but that doesn't make bitcoin worthless now or anytime soon... "soon" is to be defined...

The same goes for gold or anything else that you can think of

Matthew N. Wright

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Hero VIP ultra official trusted super staff puppet

Quote from: Peter Lambert on April 26, 2013, 12:31:18 PM

My point is that they cannot talk about it without also talking about bitcoin.

True.dat

Quote from: Peter Lambert on April 26, 2013, 12:31:18 PM

The only way some other cryptocurrency will overtake bitcoins is if it brought something new, so you would not have to compare it to bitcoins. Why get a copy when you can just use the original?

Why get silver when you can just get gold? Why get a Honda when you can just get a Ford? Why get a double-cheeseburger when you can get just a cheeseburger?

I take it by your generalizations that you either A) don't understand the differences between Bitcoin or Litecoin; or B) you understand them better than I, have come to the conclusion that they don't matter, but refuse to explain why in any sort of detail.

Peter Lambert

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It's all fun and games until somebody loses an eye

Quote from: Matthew N. Wright on April 26, 2013, 10:53:40 AM

Quote from: Peter Lambert on April 26, 2013, 10:47:10 AM

It is just like bitcoin

"..except it's an offshoot that uses a different method of mining than bitcoin (scrypt) that has it's own advantages and disadvantages."

Seems like a pretty sound explanation to me. Why wouldn't they just be able to say that?

My point is that they cannot talk about it without also talking about bitcoin. The only way some other cryptocurrency will overtake bitcoins is if it brought something new, so you would not have to compare it to bitcoins. Why get a copy when you can just use the original?

demzie

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Quote from: chiropteran on April 26, 2013, 12:16:35 PM

I love these sort of claims, because they can not be tested and proven wrong.

10 years from now, $50,000 per btc, NikolaTesla still right. Bitcoin will go to $0 in the "long run", it just hasn't been long enough yet!

100 years from now, effective value of $50,000,000,000 per bitcoin (but USD long since dead), NikolaTesla still right. It just hasn't been long enough yet!

There should be a rule about predictions on this sub-forum. You either predict something testable that can eventually be proven wrong, or you lose your thread-making privileges.

Hail Mary

chiropteran

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I love these sort of claims, because they can not be tested and proven wrong.

10 years from now, $50,000 per btc, NikolaTesla still right. Bitcoin will go to $0 in the "long run", it just hasn't been long enough yet!

100 years from now, effective value of $50,000,000,000 per bitcoin (but USD long since dead), NikolaTesla still right. It just hasn't been long enough yet!

There should be a rule about predictions on this sub-forum. You either predict something testable that can eventually be proven wrong, or you lose your thread-making privileges.

NamelessOne

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WTF NikolaTesla, a week or so you were going on and on about who everything was looking up up up. Days before that you were going on about how it is going down down down. I can't stand this schizophrenic lunacy. This does amount to little more than FUD if you flip flop so much. Huh

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