All it is will be the same thing that Bitcoin was in 2010, a creative plaything/experiment.
In 2010, Bitcoin was the investment opportunity of a lifetime. One, maybe two, of the new projects will turn out to be the same thing.
Topic: It's simple: Altcoins are Darwin's 'variations' to progress Bitcoin's evolution - page 2. (Read 2397 times)
July 12, 2014, 10:16:44 AM
In 2010, Bitcoin was the investment opportunity of a lifetime. One, maybe two, of the new projects will turn out to be the same thing.
July 12, 2014, 10:12:01 AM
No one running a business or big time mining is going to agree to any change what so ever incase it screws up bitcoin. Bitcoin will never add anything other than more zeros. And if you do not realize the fact that these 2.0 coins are a real threat then you will be left behind while true innovation in the space moves forward at brake neck speed. Even if btc could adapt, it couldn't keep up purely for the reason that you need to reach consensus in a very large userbase.
Seeing that all we're doing is just restating our own viewpoints, I'm not sure whether there is much to say on the matter - I haven't seen a valid argument stating that Bitcoin will not adapt, just absolute statements. Obviously, I haven't made an argument for it either, it's an interpretive idea rather than anything that can be truly known until we reach a point where adaptation occurs.
That being said, there are a select minority who want to use a coin which doesn't have infrastructure to support payments but as I've stated I personally doubt it will gain any traction. Features like extra anonymity are nice, but I don't really care about that if the coin I own can't be used to pay for anything. All it is will be the same thing that Bitcoin was in 2010, a creative plaything/experiment.
July 12, 2014, 10:11:47 AM
The thing is, it isn't exactly evolution when Bitcoin can just copy any significant feature that altcoins offer/think of. While animals might descend from one line due to a specific trait, Bitcoin doesn't have to - it just steals the trait if need be.
This is possibly the only other altcoin that I agree has true innovation rather than just pure marketing/pointless tech with no value. Pity it isn't more widely used.
Namecoin is a "real" alt coin with more than one useful purpose.
This is possibly the only other altcoin that I agree has true innovation rather than just pure marketing/pointless tech with no value. Pity it isn't more widely used.
yeah, there is a lack of development i think.
i think we are already at a stage, where bitcoin cant make any big changes in the protocol. all new big things must be built in the next layer above.
unfortunately "we forgot" true anonymity...but that will be solved in a different coin...
July 12, 2014, 10:04:29 AM
@light. Also complete crap. No one running a business or big time mining is going to agree to any change what so ever incase it screws up bitcoin. Bitcoin will never add anything other than more zeros. And if you do not realize the fact that these 2.0 coins are a real threat then you will be left behind while true innovation in the space moves forward at brake neck speed. Even if btc could adapt, it couldn't keep up purely for the reason that you need to reach consensus in a very large userbase.
July 12, 2014, 09:55:11 AM
The thing is, it isn't exactly evolution when Bitcoin can just copy any significant feature that altcoins offer/think of. While animals might descend from one line due to a specific trait, Bitcoin doesn't have to - it just steals the trait if need be.
This is possibly the only other altcoin that I agree has true innovation rather than just pure marketing/pointless tech with no value. Pity it isn't more widely used.
that's a load of crap! Even the bitcoin devs said themselves they can't change the code base or integrate anything into bitcoin. And that suggestions to try, always end up in a flaring argument so nothing is guna get integrated into btc. The higher the price goes the less likely anything is to change. Nxt and nem can build what ever they like into the system with very little risk. For instance nxt multigateway is in beta release and that will turn nxt into the first completely decentralised trustless cryptocoin exchange. Think totally p2p decentralised version of mintpal. InstantDex will make it instant too so it won't be limited by block times. Let's see bitcoin do that ey?? LolNamecoin is a "real" alt coin with more than one useful purpose.
This is possibly the only other altcoin that I agree has true innovation rather than just pure marketing/pointless tech with no value. Pity it isn't more widely used.
That is very true. The current mandate of the Bitcoin development team is a defensive one, not one of innovation. And there is very little chance with the current political situation surrounding Bitcoin development that we will be seeing any major additions to Bitcoin any time soon. Since there are billions at stake here I'm not even suggesting that they're taking the wrong approach. Bitcoin's value almost handcuffs the devs in a way that prevents innovation so that risk can be minimised.
Save a hard fork, I believe that in general the whole "well, bitcoin can just add anything" is a myth.
Bitcoin is not going anywhere though. So I wouldn't worry about it. Maybe even be happy that Bitcoin development is so conservative that you have a relatively safe store of value from a technical view point. Speculation and volatility aside...
July 12, 2014, 09:53:30 AM
What? Distributed asset exchanges and anonymity are just marketing and pointless with no value? Not to mention the progress made in making PoS technology potentially saving our planet billions of dollars in energy costs and the environmental benefit associated with that.
I qualified my statement with 'possibly'. I don't have the time nor the interest (at least anymore) to read through pages and pages of altcoin material - of which half is marketing for pumps and dumps. The ideas are nice, but to me their irrelevant until they gain some usage outside of the small niche users these alts have currently. It's like the philosophical view of communism - it's a nice idea, but we aren't going to ever see it truly in practice so it doesn't matter that much to me.
It really can't. You couldn't get all the interested parties in Bitcoin to agree on the color of the sky at night, let alone agree to changes on what constitutes a valid block.
That could be stated for any altcoins that can even get off the ground. If the feature is groundbreaking enough and necessary there will be vocalisations by an increasing mass for changes to the client. That we haven't had any significant modifications is simply indicative that overall only a minute fraction of people actually care about these new 'features'.
]that's a load of crap! Even the bitcoin devs said themselves they can't change the code base or integrate anything into bitcoin. And that suggestions to try, always end up in a flaring argument so nothing is guna get integrated into btc. The higher the price goes the less likely anything is to change.
See response to FreeTrade.
July 12, 2014, 09:40:04 AM
Darkcoin showed promises until developers failed to deliver what they promise.
July 12, 2014, 09:39:05 AM
The thing is, it isn't exactly evolution when Bitcoin can just copy any significant feature that altcoins offer/think of. While animals might descend from one line due to a specific trait, Bitcoin doesn't have to - it just steals the trait if need be.
This is possibly the only other altcoin that I agree has true innovation rather than just pure marketing/pointless tech with no value. Pity it isn't more widely used.
that's a load of crap! Even the bitcoin devs said themselves they can't change the code base or integrate anything into bitcoin. And that suggestions to try, always end up in a flaring argument so nothing is guna get integrated into btc. The higher the price goes the less likely anything is to change. Nxt and nem can build what ever they like into the system with very little risk. For instance nxt multigateway is in beta release and that will turn nxt into the first completely decentralised trustless cryptocoin exchange. Think totally p2p decentralised version of mintpal. InstantDex will make it instant too so it won't be limited by block times. Let's see bitcoin do that ey?? LolNamecoin is a "real" alt coin with more than one useful purpose.
This is possibly the only other altcoin that I agree has true innovation rather than just pure marketing/pointless tech with no value. Pity it isn't more widely used.
Edit;
** silence takes over the room as bitcoin fan boys shit themselves and can't admit they are wrong**
July 12, 2014, 09:38:53 AM
The thing is, it isn't exactly evolution when Bitcoin can just copy any significant feature that altcoins offer/think of. While animals might descend from one line due to a specific trait, Bitcoin doesn't have to - it just steals the trait if need be.
This is possibly the only other altcoin that I agree has true innovation rather than just pure marketing/pointless tech with no value. Pity it isn't more widely used.
Namecoin is a "real" alt coin with more than one useful purpose.
This is possibly the only other altcoin that I agree has true innovation rather than just pure marketing/pointless tech with no value. Pity it isn't more widely used.
What? Distributed asset exchanges and anonymity are just marketing and pointless with no value? Not to mention the progress made in making PoS technology potentially saving our planet billions of dollars in energy costs and the environmental benefit associated with that.
July 12, 2014, 09:30:55 AM
The thing is, it isn't exactly evolution when Bitcoin can just copy any significant feature that altcoins offer/think of.
It really can't. You couldn't get all the interested parties in Bitcoin to agree on the color of the sky at night, let alone agree to changes on what constitutes a valid block.
July 12, 2014, 09:23:27 AM
The thing is, it isn't exactly evolution when Bitcoin can just copy any significant feature that altcoins offer/think of. While animals might descend from one line due to a specific trait, Bitcoin doesn't have to - it just steals the trait if need be.
This is possibly the only other altcoin that I agree has true innovation rather than just pure marketing/pointless tech with no value. Pity it isn't more widely used.
Namecoin is a "real" alt coin with more than one useful purpose.
This is possibly the only other altcoin that I agree has true innovation rather than just pure marketing/pointless tech with no value. Pity it isn't more widely used.
July 12, 2014, 08:25:21 AM
Altcoins are a good example of why copyrights and patents are not necessary.
If you get the product right first, then you enjoy first comer status and there is no need to artificially protect your product.
If you get the product right first, then you enjoy first comer status and there is no need to artificially protect your product.
This. The day copyrights and patents are discontinued is a very good day for mankind. It's an abomination. Luckily, pretty soon it will be impossible for governments to enforce them anyway (just like file sharing). This will probably need 3d printing to be a marginal business for anything physical.
July 12, 2014, 08:18:33 AM
Namecoin is a "real" alt coin with more than one useful purpose.
July 12, 2014, 07:35:13 AM
Alt coins are probably more like the retarded offspring of bitcoin that will die off pretty quickly. Survival of the fittest.
Some of the alt coin do have useful utility. The only reason they are not being used is because people are slow to adapting changes.
Clone of a clone of a clone...
July 12, 2014, 07:28:37 AM
Alt coins are probably more like the retarded offspring of bitcoin that will die off pretty quickly. Survival of the fittest.
Some of the alt coin do have useful utility. The only reason they are not being used is because people are slow to adapting changes.
Which ones? There might be a very small minority of coins that are useful like maybe less than 1%, but most are uneccesary and don't have anything unique or usueful at all.
NXT, NEM, Monero(and all other notes using CryptoNote technology), DRK, XC, VRC, MIN, BC, Counterparty, Bitshares... I could probably go on.
But you're right that since anyone can automatically launch their own blockchain and call it a coin now for a small fee it's probably less than 1% of all total coins ever made. There's no point in really counting all of those though. The coins that are currently being developed are all attempting to push the boundaries of cryptocurrency technology.
2014(and the end of 2013 since that was when NXT came I guess) has been an incredible jump forward so far with new innovations and new code flying around everywhere. It's pretty interesting watching as an observer to watch the debates about different techs and see who's going to catch on and rise up.
July 12, 2014, 05:27:28 AM
Alt coins are probably more like the retarded offspring of bitcoin that will die off pretty quickly. Survival of the fittest.
Some of the alt coin do have useful utility. The only reason they are not being used is because people are slow to adapting changes.
Which ones? There might be a very small minority of coins that are useful like maybe less than 1%, but most are uneccesary and don't have anything unique or usueful at all.
July 12, 2014, 05:23:43 AM
Alt coins are probably more like the retarded offspring of bitcoin that will die off pretty quickly. Survival of the fittest.
Some of the alt coin do have useful utility. The only reason they are not being used is because people are slow to adapting changes.
Clone of a clone of a clone...
July 12, 2014, 05:19:04 AM
Alt coins are probably more like the retarded offspring of bitcoin that will die off pretty quickly. Survival of the fittest.
Some of the alt coin do have useful utility. The only reason they are not being used is because people are slow to adapting changes.
July 12, 2014, 05:15:28 AM
Alt coins are probably more like the retarded offspring of bitcoin that will die off pretty quickly. Survival of the fittest.
July 12, 2014, 04:49:30 AM
Altcoins are a good example of why copyrights and patents are not necessary.
If you get the product right first, then you enjoy first comer status and there is no need to artificially protect your product.
If you get the product right first, then you enjoy first comer status and there is no need to artificially protect your product.
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