It won't be Bitcoin or any current altcoin - page 2.

spazzdla

legendary

Activity: 1722

Merit: 1000

Quote from: devphp on November 07, 2014, 04:57:45 AM

Crypto is either decentralized or it's not worth switching on a computer for.

What you talk about already exists in many varieties and is centralized, any fiat currency or credits issued by a company fit what you just described.

Countries could use the Blockchain technology to track EVERY SINGLE thing you buy via the blockchain..

The ablity to oppress people with the blockchain is a very real and horrible thing.

I have a feeling before I die there will be wars fought over this(There must be or freedom dies)... civil ones... when govs attempt to implment this on their people under the idea of "protceting you from terrorism"

Febo

legendary

Activity: 2730

Merit: 1288

Bitcoin will stay. But no one can say how many people will use it.

fred1111

full member

Activity: 160

Merit: 101

Quote from: devphp on November 07, 2014, 06:41:13 AM

A company or government aren't interested unless they can control most of the supply

They would be interested if their coin catches on, and they get to keep 10%, while the rest is distributed "fairly". If they control most of the supply, it cannot catch on.

It's better to have 10% of the leading cryptocurrency, than to have nothing, so there is the motivation to do it first. The first one which is internationally recognized by world finance will win.

Kevin77

legendary

Activity: 1652

Merit: 1057

This can't happen. The risk to lose the control over the coin, after some years, is too big.
And they have "fiat": a system which, in their opinion is good enough.

devphp

sr. member

Activity: 336

Merit: 260

What would be their motives to issue this currency and what are the advantages for these entities compared to what they issue now? PoS is fine, but it has to be decentralized or it's not worth it. A company or government aren't interested unless they can control most of the supply AKA centralized (not worth it, same as what we have now with fiat currencies).

fred1111

full member

Activity: 160

Merit: 101

A POS-coin doesn't have to be centralized. Just because it's issued by a central authority at first, doesn't mean it can't be open-source and decentralized. Were you thinking about Ripple? It doesn't really have a recognized large authority behind it.

devphp

sr. member

Activity: 336

Merit: 260

Crypto is either decentralized or it's not worth switching on a computer for.

What you talk about already exists in many varieties and is centralized, any fiat currency or credits issued by a company fit what you just described.

fred1111

full member

Activity: 160

Merit: 101

I've turned permabear Grin

. Bitcoin will be replaced by a POS-coin distributed by a government or a really large organisation, here is why:

All traditional currencies have something in common: they were initially created by an authority in which a lot of people put their faith in, an authority which they didn't mind would benefit from the inflation/creation of the currency. Sure, many of said currencies were officially backed by gold, but people accepted that the backing inevitably would get fractional.

Bitcoin is mostly issued by lucky early adopters / mining-speculators, which is exactly the kind of people that society would hate to see benefit from currency issuance.

The advantages of the incoming competition will end up making bitcoin worth nothing more than collector's stamps. The fact that the competition isn't visible or even existent yet, doesn't mean than it's not coming.

We will see the benefits of cryptocurrencies for humanity, but it won't be Bitcoin, or any of todays altcoins.

The question is when does the collapse of Bitcoin start. Could be 5 years or 5 weeks from now.

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