This article is just shameless altcoin pumping quoting somebody with the most obvious vested interest in pumping the value, nothing to see here.
The statement about mining is so facile it's not even clear where to begin dismantling what this article is saying.
There is literally zero content in this article that has any relevance to anything remotely resembling any kind of actual analysis about the merits of Bitcoin vs. Ripple.
Topic: Is mining toast? - page 2. (Read 2080 times)
In a first, NEM coin, a branch of NXT, is trying to give away equal shares of coins to prevent hoarders.
https://bitcointalksearch.org/topic/ann-nem-4-billion-coins-equal-shares-for-all-registration-thread-part-2-440185
However, as long as crypto currencies can be mined and dumped on the marketplace with enough hype, I suspect it will always be done. However I believe alt currencies are reaching a critical mass where they might end up destroying themselves. The number of clones in just the past week is starting to accelerate. Weeding through the ones with a good team behind them like NEM/NXT takes work.
Hopefully some of these great features that these coins promise like the direct currency trading, data storage, etc. start to actually be used and implemented.
https://bitcointalksearch.org/topic/ann-nem-4-billion-coins-equal-shares-for-all-registration-thread-part-2-440185
However, as long as crypto currencies can be mined and dumped on the marketplace with enough hype, I suspect it will always be done. However I believe alt currencies are reaching a critical mass where they might end up destroying themselves. The number of clones in just the past week is starting to accelerate. Weeding through the ones with a good team behind them like NEM/NXT takes work.
Hopefully some of these great features that these coins promise like the direct currency trading, data storage, etc. start to actually be used and implemented.
yes BTC value via mining in so far as it is inefficient, will be arbitraged out by more energy efficient coins, normalised for all other properties, hence PeerCoin which takes the best of both worlds minging initially and perhaps a bit later on may confer some advantages of mining, eg distribution and back resilience to Pos if needed. At the other extreme you have NXT.
thanks, interesting piece.
If it's profitable they sure will.
Ok. I can't argue with that. +1
I guess when we say "profitable," we've got to think about what currency they'll be getting paid in
Not really as long as it's profit. If I can trade my mud pies for milk and the milk for whiskey and the whiskey for BTC or LTC and I make a profit, I will continue to do so.
If it's profitable they sure will.
Ok. I can't argue with that. +1
I guess when we say "profitable," we've got to think about what currency they'll be getting paid in
I just posted an article on my blog where I quoted the founder of NoFiatCoin as saying he thinks mining is going to go the way of the dodo: http://crypt.la/2014/01/31/eventually-mining-is-going-to-be-dead-and-ripple-will-rule-says-nofiatcoin-xnf-founder/
I agree for the most part, though I could see bitcoin being the exception to the rule (and perhaps litecoin, too). That said, I believe the vast majority of the 500 other altcoins are toast. There's just no way people are going to devote serious computing power to hundreds of different altcoins for years to come. Even using all that power for bitcoin is disconcerting... I wonder if Satoshi would do it the same way if he got to start over again from scratch?
I agree for the most part, though I could see bitcoin being the exception to the rule (and perhaps litecoin, too). That said, I believe the vast majority of the 500 other altcoins are toast. There's just no way people are going to devote serious computing power to hundreds of different altcoins for years to come. Even using all that power for bitcoin is disconcerting... I wonder if Satoshi would do it the same way if he got to start over again from scratch?
If it's profitable they sure will.
I just posted an article on my blog where I quoted the founder of NoFiatCoin as saying he thinks mining is going to go the way of the dodo: http://crypt.la/2014/01/31/eventually-mining-is-going-to-be-dead-and-ripple-will-rule-says-nofiatcoin-xnf-founder/
I agree for the most part, though I could see bitcoin being the exception to the rule (and perhaps litecoin, too). That said, I believe the vast majority of the 500 other altcoins are toast. There's just no way people are going to devote serious computing power to hundreds of different altcoins for years to come. Even using all that power for bitcoin is disconcerting... I wonder if Satoshi would do it the same way if he got to start over again from scratch?
I agree for the most part, though I could see bitcoin being the exception to the rule (and perhaps litecoin, too). That said, I believe the vast majority of the 500 other altcoins are toast. There's just no way people are going to devote serious computing power to hundreds of different altcoins for years to come. Even using all that power for bitcoin is disconcerting... I wonder if Satoshi would do it the same way if he got to start over again from scratch?
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