Topic: Time to grow up. - page 4. (Read 4557 times)
Only in a universe where merge-mining is impossible.
Well, being GPU-hostile places you into a position of living in peace and cooperating with 800lb gorilla instead of competing with it 
Ok, seriously folks: what's the point? About once a week we see a “new” coin crop up--or rather, a new fork of bitcoind with minor cosmetic changes. Congratulations, you can follow directions and change a few magic bytes! So what does this new *coin bring to the table?
“Our coin is GPU-hostile!” Ok... and why is that beneficial?
“Our coin continues to reward miners indefinitely!” Great... and what economic impact does that have?
“Our coin has fast[er] transactions!” Sure... just wake me up when it's instantaneous. Anything slower than that is of no practical consequence.
“Our coin ...”
You know what, f--k it. If you're differentiating yourself from bitcoin by some technical difference, you're doing it wrong. Hell, if you're having to explicitly differentiate yourself at all, you're doing it wrong.
But you know what, I'm going to be heretical and say this: if you're creating yet another currency, you're doing it wrong. Because ultimately, you're competing with the 800lb gorilla, and even if this decentralized currency thing takes off, you're still going to have a snowball's chance in hell of being the last one standing when the dust settles.
Let me tell you a little secret: crypto-token systems were *not* invented to create digital cash. It was much later that someone came along and dreamt up that application. So what other applications can you think of, hmm? Think of namecoin--that's pretty innovative (and useful), right? Maybe there is something cool and innovative you can do with bitcoin's codebase, that isn't a currency?
Ok, fine. You insist on doing a currency. So how about one with demurrage, eh? Ok maybe you're not so fond of Silvio Gesell, and John Keynes is more your style--so give us a coin with a fixed inflation. Or maybe one based on LETS/ripple? Or whatever--but make sure you a real economic theory to back up your experiment; otherwise your shitcoin is snake oil and you should be ashamed of yourself.
You know what, let this be an open challenge to the altcoin community: show us something innovative, new, and useful, 'cause you're making us all look bad.
“Our coin is GPU-hostile!” Ok... and why is that beneficial?
“Our coin continues to reward miners indefinitely!” Great... and what economic impact does that have?
“Our coin has fast[er] transactions!” Sure... just wake me up when it's instantaneous. Anything slower than that is of no practical consequence.
“Our coin ...”
You know what, f--k it. If you're differentiating yourself from bitcoin by some technical difference, you're doing it wrong. Hell, if you're having to explicitly differentiate yourself at all, you're doing it wrong.
But you know what, I'm going to be heretical and say this: if you're creating yet another currency, you're doing it wrong. Because ultimately, you're competing with the 800lb gorilla, and even if this decentralized currency thing takes off, you're still going to have a snowball's chance in hell of being the last one standing when the dust settles.
Let me tell you a little secret: crypto-token systems were *not* invented to create digital cash. It was much later that someone came along and dreamt up that application. So what other applications can you think of, hmm? Think of namecoin--that's pretty innovative (and useful), right? Maybe there is something cool and innovative you can do with bitcoin's codebase, that isn't a currency?
Ok, fine. You insist on doing a currency. So how about one with demurrage, eh? Ok maybe you're not so fond of Silvio Gesell, and John Keynes is more your style--so give us a coin with a fixed inflation. Or maybe one based on LETS/ripple? Or whatever--but make sure you a real economic theory to back up your experiment; otherwise your shitcoin is snake oil and you should be ashamed of yourself.
You know what, let this be an open challenge to the altcoin community: show us something innovative, new, and useful, 'cause you're making us all look bad.
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