Topic: Please Read!! Help Stop This Madness. - page 3. (Read 7683 times)

Well you don't get mine either.
Bitcoin is getting more and more merchants abroad. Altcoins? Litecoin? How many merchants do deal in altcoin?
At one time it will be easier even for you (and me) to use bitcoins in our daily life , wait for it.
Bitcoin is progressing in this way. Alt coins? Never heard of an altcoin doing something like that , premine the stuff , heavy spam on this forum , drive the price up and ...hope it will raise up enough to dump all and get a house and a car.
Most altcoins have no dev team , no true supporters , no plan . nothing.
Bitcoin has been tested with crashs,  small fork , doubt any altcoin will survive this.

I got your point. But you don't want to get mine.

Right now I'd have to drive a few hours to find a place that accepts bitcoins. It could be a bit easier to spend bitcoins it if you're in a big city, but still you'd have to do some searching for such a restaurant for example.
Same on Internet, Paypal is the king right now, that's a fact, everyone accepts it, bitcoin is accepted by maybe 1% of merchants, maybe even much less. Will Paypal be king in a few years? We shall see.

You see, the bitcoin is paving the way for alt-coins. What took bitcoin 4-5 years to achieve, alt-coins will achieve in 1 year, just because there is already mindset about cryptos and a lot of code written initially for bitcoin, which can be adapted for alt-coins with slight modifications, and it will be adapted. There are many talented, motivated and financially backed programmers who can quickly set up all required framework for other alt-coins once bitcoin really goes mainstream. Whereas for bitcoin the time to receive larger adoption was/is counted in years, for alt-coins it will be months, alt-coins piggy-backing on bitcoin's success. Is that good or bad? It's just the way it will be, we'll have to accept it.

There is no such thing as unanimity, and when you have two persons, you have more than 1 opinion usually, imagine there are millions of people in the internet industry, they simply can't all agree on 1 and only payment system, it's utopia. Especially since bitcoin network can only service 7 transactions per second for the entire world until they do something to the blockchain.

Well, who have not started on or before the 2nd Era, then these people are normally failed to reach the need.

Currently there are lots of plans, executing for years, If you like to stop the bitcoin madness. Then Qe must be stopped to adjust the status.

Only if I also drive 5 km uphill.
Also , I guess you got my point.
There are places where bitcoin can be used in shops and restaurants and places where no. Altcoins have no such places.

Can you make a phone call from your grandpa's house with a (put any brand name here) cellphone any better than with a (put any other brand name here) cellphone?

At my grandpa house I don't have phone signal not internet access.
Does that make cell phones useless?

Equally true for bitcoin.
Right now where I am I can't do nothing with bitcoin in real life, except trade it online and hope it grows more, just like alt-coins. If there are some places on the internet that I can spend it on, it'd actually be cheaper for me right now to just pay by paypal. Until bitcoin is accepted to buy groceries, its potential value is not realized, it's all just a dream, a dream that cryptos can grow more and be widely adopted and used to buy things in real life. So no difference with alt-coins here.

What you see is potential value , but that is just a dream. Alt coins price is now driven by the media madness around bitcoin and people who can't get into bitcoin mining and turn to alts hoping to get rich. Alt coins have no use right now , you can't do anything with them , just trade them to BTC.

Mining pool operators can't force people to contribute to pools. If a pool starts to behave badly like this, people will leave for other pools. Or do solo. Still a free market.

Fake it 'til you make it?

If you still want to support your donation address, how about sending a good sum of money to yourself through intermediaries?

As Upton Sinclair noted:  "It is difficult to get a man to understand something when his salary depends upon his not understanding it."

Yes, exactly what I was driving at.

Theoretically, operators of 3-4 big pools can more easily get together to pull off a 51% attack on bitcoin network, than many small pools and solo miners that exist in litecoin network. Bitcoin mining network is an oligopoly now, whereas litecoin network is still a free market.

It's not a good thing but it's not as bad as a 51% attack.

Edited: Network effect. Things that are more valuable as more people use. Bitcoin is the most used.

Depends on what reason bitcoin falls.

If it falls due to hacking of the sha-256 algorithm, then alt-coins relying on a different algo, especially those that rely on multiple algos, like Quarkcoin will likely survive and even prosper.

If bitcoin falls for some other reason not specific to bitcoin's features (internet is shut down for example), then other alt-coins will naturally fall with it.

Oh, I support bitcoin, don't worry about it, I am just trying to stay objective and rational here and to see proper value in other coins.

That's because litecoin is tiny. Same thing will eventually happen there if it ever becomes big enough. In the meanwhile, merchants around the world accept bitcoin and just bitcoin. That makes all the others pure speculation. If bitcoin falls so will the rest. Which means if you want altcoins to succeed, support bitcoin.

I heard that a lion's share of hashing power in Bitcoin network is concentrated in 3-4 major pools, which is not a good thing, as it makes mining more centralized and monopolized than it should be. In Litecoin, for example, you have a more distributed mining network. So, what's more secure can be debated.

Because of bitcoin far superior hash difficulty making it the most secure alternative.

What part of the " pruning " you don't get?
That's the whole point of reducing the blockchain , so normal users can still run a node.
There won't be a need for datacenters.

I bet you do you sweet wrinkly little fella, you.