Topic: What are the chances BTC is replaced by something better soon? - page 26. (Read 18658 times)

Fuck ripple and some guy holding your gold. I'll use bullion vault if I want gold

bitcoin is backed by the fact that i can buy stuff with it...

Man... where did the finesse go with these new marketing guys ?

It seems there a so many variables.. here is a brainfart...

positive thoughts:

1) we human's nearly always underestimate the network effect. And the force is strong with bitcoin
2) to my mind the key to a cryptocurrency success is merchant adoption and again bitcoin is waaay ahead
3) bitcoin will get 99.99% of all media attention because that's all journalists have bothered understand at present. So Bitcoin will be household name, not dogecoin
4) if ive spent 500,000 k on a mining rig to mine bitcoin, i am not going to take part in a 51% attack on the network so i can double spend a few btc..and as a pool operator it would be the biggest own goal.
5) Changing the bitcoin protocol to incorporate an altcoin element is not impossible. Concensus sorted the fork in the blockchain, couldnt concensus decide on an upgrade too?


negative thoughts:

1) some of the governments of the world are going to shit a brick and start arresting exchange operators and make it illegal to own bitcoin.
2) major blockchain bloat which i dont understand how to fix
3) google creates a currency and the sheep flock
4)i forget my wallet password...

it's all a little tricky to see where it's going..

Did the horse get replaced by the engine? Sure did.

Bitcoin will be remembered for being the pioneer in the field of open source p2p digital currency. But it's got its own problems. Another system will come along and solve these problems.

There's a bunch of companies. But knowing when they arrive is a guessing game. Unless you are preordering, you can be sure they will come but don't really care when.

Ghash bitfury chips will be shit in a couple months. And they won't be able to procure that many chips again from anyone. Unless they buy a company. But I don't think they are in it for the long term. If I were them, i'd be moving to the carribean soon.

financial institutions are pushing to create a similar system in order to give incentives to use credit/debit cards, my girlfriends working for SunCorp in AU and shes on the marketing / advertising team that is attempting to come up with ways to make people want to spend on their credit cards etc, a rewards system, for example, every $10 you spent, you receive .001 BTC or whatever # it will be! They are specifically targeting the millennial age group! Be aware Australia! They are trying to suck you into the financial ponzi scheme! =P

LOL, in March!

lol, best comment of the day.

Bitcoin indeed has to succeed first, and many would say that it already has. But the concept of cryptocurrency is so powerful that it cant ever be put back in the bottle. Its impossible.

Bitcoin is the initial implementation, and I predict its dominance will last at least as long as the mining phase (~2040 I think), but it will be supplemented and eventually surpassed by a handful of innovative alts.

Bitcoin is a clear example of the chicken and Egg riddle.  There is already about $12 billion invested into the platform of Bitcoin.  Thousands of merchants are accepting it, and it has almost gone mainstream from a "I heard about it" standpoint.  The structure is building, and thats something none of these other coins will ave.  You never heard of a major retailer accepting another coin.  That's because if they were to accept a cryptocurrency it would be BTC first, and as more and more retailers start accepting BTC it strengthens its position even more.

Either BItcoin succeeds and is easily the winner while some altcoins may be worth a decent amount, or Bitcoin fails and all altcoins will pretty much fall with it.  If Bitcoin was to fail, the confidence would be lost for all the other cryptos.  There is no way another crypto will simply surpass BTC.  it's all or nothing for the industry, and its led by Bitcoin.

Check this post in 3-4 years and I am 99.98% sure it will be correct.  

DOGE coin just got sold at 50 cents and then went back down to the normal rate- _-

Meh I think they have 0.01 PPC transaction fee. It's not designed to be a transactional currency.

(Once PPC is $100 each. It cost you more to buy anything costing less than $35 than it would using a credit card, without any of the benefits like charge-backs etc.)

Think they still have some centralised system in place, for defence against attacks I think, so not a decentralised solution yet.

i think peercoins might have a good possibility of outdoing bitcoin they are slowly becoming more popular because they are easier to mine for and are more power efficient than bitcoin however they wouldn't be able to replace them for many years

Do you know if it's a handful of companies that tend to bring out the next generation of Asics or is their more competition in the market than that?  I.e. if the new knc is so good, couldn't the one or two companies that manufacture it, be a threat if they wanted to be?
(Obviously they don't want to be, but someone else could want them to be.)  

An internet goes to both of those lol

Doesn't matter, when new knc arrives in March, ghash will be nothing. There are no incumbents in Bitcoin

Pure speculation.

- GHash.IO revealed that their own equipment >20% of total hashing power.  (Who's to say it isn't closer to 25-30%?)
- The 'unknown' block has grown a lot since the incident, who's to say some of that isn't their hashing power that they've re-directed?

So it's possible they control >51% hashing power, potentially mostly with their own equipment.

If Central Banks and friends don't control GHash.IO already, controlling Bitcoin is as easy as getting to two people, or the few companies that bring out the next generation of Asics.

Thanks to 'centralisation of mining' it will always be a question mark and a coin that is committed to decentralised mining has the most potential to overtake Bitcoin imo.  

Care to elaborate?

The successor to Bitcoin needs 2 things...

1. Central Bank proof mining         (Central banks may already control >51% of Bitcoin hashing power.)
2. Central Bank proof developers   (See Mike joining circle to sit with Goldman Sachs.)


The closest coin I've come across so far is memorycoin 2.0 they have a constant commitment to keeping mining decentralised and voting system that allows compromised developers to be replaced.

Unfortunately there's a bit of pre-mine scandal re: that coin, so personally I can't see the vision of Satoshi being transferred to something built on a questionable foundation, but I do think the coin that takes over from Bitcoin will have a lot of those features.

Bitcoin isn't a product as such, it's an idea, a premise. A currency that can operate outside the control of over-reaching governments and central banks. As soon as the market perceives Bitcoin no longer fulfils that idea, Bitcoin is no more. I don't even think there will be a market for it as a glorified Paypal.

I think we may be getting close to that tipping point, but there isn't a fully credible successor for us all to switch to yet.


Edit: I wouldn't mind if they were a bit more discreet about it & backed off a bit. I just don't think people are going to buy into the idea of BTC when is starts to be perceived more as GoldmanSachsCoin.