Topic: The last (but not final) Bitcoin bubble and the new Blockchain era (Read 2146 times)

Blab blab blab monero blab blab blab...
Please... I thought that scamcoin died already.

Can't be tainted, thanks to the opaque blockchain. Like physical coins (banknote have serial numbers). With Monero and its decentralised mixing, you can know that a transaction occured, but not whence, how much and whither. Curious minds go here: The Three Pillars of Monero/.

Back on topic: kazuki is the second person I hear saying Bitcoin could be like gold. So a store of value, but not a medium of echange? I'm wondering, should the scenario proves true, if it would a unit of account. I don't know what to think of it, really.

My own belief is that there is much more money to be made on the expertise of blockchain than on the coin themselves. Because coins (including Bitcoin and Monero) are open source. So they can be cloned. And frankly, why bother with annoying holders (me and you) whilst you can just click the "fork" button on github? Isn't it what overstock and IBM+Samsung did? The only thing that an established and "cumbersome" coin has that a fresh clone doesn't have, it is the hashing power. And I don't think this is much an issue: either you use you clone for internal purposes or you make int ubiquitous (like a "Samsung coin" in all Samsung mobile phones, for instance).

Opinions?

Not sure why everyone here is bashing Monero. Unlike most other altcoins, the CryptoNote coins actually do bring something useful and innovative to the cryptosphere and aren't simply copy & paste clones of Litecoin. Bytecoin was the first CryptoNote coin but it was marred by somewhat shady distribution. Because of this, the community forked it - thus creating a number of different but similar coins (link). Out of these, Monero happens to be the biggest one.

Here is the link to the CryptoNote whitepaper. It's a bit complex to understand if you don't come from a mathematical background so here is a more simplified explanation. There are some valid criticisms of the Cryptonote protocol such as blockchain bloat but overall I think the ring signature technology is pretty neat.

Bytecoin and Monero is just another application of blockchain technology. The blockchain is an invention that can and should be used for more applications than just Bitcoin alone. Even Satoshi realized this when he contributed to the development of Namecoin (a decentralized DNS). Microsoft (link) and IBM realized this when they started exploring blockchain technology for the Internet of Things (IoT). Just three days ago, IBM announced its proof of concept for ADEPT (link) - a blockchain-powered distributed network of devices.

Now you have projects like Ethereum, NXT, BitShares, and Counterparty which also aim to utilize the blockchain technology for other uses beyond that of a simple A-to-B payment system. This will always happen and this should always happen. This type of innovation should be encouraged because this is exactly how technology is supposed to work.

That being said, I have some criticisms about OP's post as well such as his prediction that Bitcoin will fail as a payment system and that the core devs will simply lie back and let this happen, although I agree with him for the most part.

+1 Very good summary.

Clearly the blockchain technology is here to stay, in such great coins as Bitcoin, Peercoin, and of course, the almighty Noodly Appendage Coin, which is without doubt, the future of everything. May you all be forever touched by the great Noodly Appendage.

Countdown to Wall Street going all in on Noodly Appendage Coin in 5....4....3....

One of the scam-coins actually innovated with something called "ring signatures" and built-in coinjoin-like privacy.

Blowing the lid off the CryptoNote/Bytecoin 80% pre-mine scam.

Monero is the community fork of that scam. I have not been able to play with it yet, but it is on my short-list (In addition to Friecoin and namecoin).

Just took a quick glance at OP's post history and i feel sorry for him. (Also pitty), Must be one of those "btc price is too high, why wouldnt i buy alternative coins, its the same thing! " suckered in by scamcoins creator.

Because if enough ppl believe that then they will buy buy buy and the price will be up up up and i'm rich and you're poor? i'm right and you're wrong?

Ask the Monero pump and dumb master, THE REPTILE MAN in speculation section

humor me...explain in 2-3 sentences why is Monero "the true e-cash"

Hm... Now, my opinion has changed about him... and not for the better. 

Monero is actually a word in Esperanto. http://eo.wikipedia.org/wiki/Monero

I still think it's irrelevant compared to Bitcoin.

lol at monero, nice joke

LOL, a dumb ass trying to promote more scamcoins to .... bitcoiners.... what a fcking fail.

Good man. Best of luck.

This thread had a success, but the opposite of what the OP would like.

I see this thread as an useless battle between the adopters of a couple of altcoins. Now, Monero I know what it is (and I kinda like it, shhh!) so I guess I will take a look what the other "involved" coins are, because it's a big world and I believe that the coin for the future may actually be the ones that learns how to implement all the best ideas from the coins. And until then, all the coins with genuine ideas may have a chance.

It's not that. People here are against anything that deflects attention away from the one true God in blockchain form. Did you see the sign on the front page of this forum that says, "This Is The Place For Sharing"? Yeah, me neither. Everyone here is under the impression that a free exchange of ideas that pulls attention away from Bitcoin will somehow ensure their holdings eventually become worthless. That's not true. It's not that any of the altthinking is necessarily bad but it won't be well received here. I suggest fresh meat, possibly at one of the other crypto boards. There are quite a few of them now.

I need to write down this combination of words for future use. Succinct and to the point. lol

Why are you promoting Monero to a bunch of Bitcoiners? Wouldn't your time be better spent finding fresh meat.

Press talks about bitcoin.
No one knows about this stupid monero thing, and the name is really silly.. seems like some kind of tropical desease shit

What's funny is implying Ethereum will not get deprecated by Maidsafe.

one more monero bagholder
it is just ridiculous how you are trying to put monero on the level of ehthereum and think you are inconspicuous