What type of system would it take for you to regard it as a threat to Bitcoin?

ToshiOcean

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Quote from: gentlemand on March 19, 2015, 11:11:04 AM

...do you think the powers that be will ever come up with something that has you questioning BTC's viability?

The "viability" of the Bitcoin concept is now beyond question - given the upcoming presence of IBM, Intel and others.TPTB will most certainly come up with a completely regulated, transparent, traceable, taxable, crypto economy that will give you - maybe - $200 for your Bitcoin once they've created their own version.

Bitcoin will not go back to $1000 usd. That ship has sailed. Cheers to the early birds. We are now, officially, in business-as-usual.

pedrog

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Quote from: zetaray on March 20, 2015, 05:19:10 AM

An open source Google coin with a Google exchange supported by credit card companies will be a serious thread to bitcoin. Bitcoin will not be destroyed but less preferred as a currency medium of trade. Common users will find this Google coin more user friendly and better accepted.

That's a good point, but I don't think Google could pull this off, regulation, compliance, that coin would get destroyed in a second, and they don't need to make a new coin, they use, contribute and finance a lot of open-source projects, they can simply build on top of bitcoin.

Q7

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The system is not my concern because whatever comes up maybe with faster transaction time will not do much to really dislodge bitcoin from its number spot. I believe we have seen a fair share of altcoins trying to do the same but failed. But what I'm really bothered about is the branding and marketing. What if they could have it the new coin become tied up with their product. Offer incentive to use the coin. Use some form of method to ensure price stability and better protection as a store of a value.

Snail2

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NXT could be a serious challenger for BTC in a few years.

shogdite

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LIR Dev. www.letitride.io

A system that is easy-to-use, self explanatory, media friendly and doesn't involve any geek jargon.

One problem I see with bitcoin is that it can (to some people at least) be over-complicated.

zetaray

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An open source Google coin with a Google exchange supported by credit card companies will be a serious thread to bitcoin. Bitcoin will not be destroyed but less preferred as a currency medium of trade. Common users will find this Google coin more user friendly and better accepted.

gentlemand

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Welt Am Draht

Quote from: Bit_Happy on March 20, 2015, 01:27:07 AM

// ... Is my 'version' easier or harder to understand than theirs? Cheesy

I'm equally befuddled. Maybe part of the game plan was to make it incomprehensible to mere mortals.

Bit_Happy

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A Great Time to Start Something!

Quote from: gentlemand on March 19, 2015, 01:57:22 PM

Quote from: Bit_Happy on March 19, 2015, 01:32:23 PM

If Ripple was much more user-friendly (for non-tech people), then they could have been a real threat to Bitcoin. The way they are (or were last time I checked), they will never grow past a small % of the potential user-base.

Wouldn't you class it as a payment protocol rather than a currency or store of value? I know there's XRP but if Ripple functioned as intended, it having any value might end up being an impediment, not that I can figure out what they're on about half the time.

Ripple seems to have "mission creep", and it's not clear if even they know exactly what that are.
Did they ever update (or get rid of) the original "explanation" where you get paid through "ripples of trust", meaning you trust someone who trusts others, who happen to trust the person who wants to send you money?
// ... Is my 'version' easier or harder to understand than theirs? Cheesy

ObscureBean

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I think it's the other way around, the underdog is always the threat because the masses have already labeled it as unlikely.
The core ideas of Bitcoin/crytocurrency are anonymity and transactions that can be completed freely from anywhere in the world while bypassing regulatory structures of individual countries. Those cannot be replicated by the system (at least not without some major underhandedness that would only serve to increase pressure system-wide). If through some miracle the system did manage to incorporate those ideas transparently into a crytocurrency of its own, then it wouldn't matter if Bitcoin disappeared because the essence of the original idea would've simply migrated from one body to another.

maku

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Quote from: WindowedCore on March 19, 2015, 01:53:29 PM

Quote from: Bit_Happy on March 19, 2015, 01:32:23 PM

If Ripple was much more user-friendly (for non-tech people), then they could have been a real threat to Bitcoin. The way they are (or were last time I checked), they will never grow past a small % of the potential user-base.

Yeah, I agree with you. Facebook started losing its popularity when old people started using it. Facebook is still big, but it's just not the same, which is why people have moved onto Twitter and other social media sources, because older people have no idea what the hell the point of Twitter is nor how to use it. When your user base becomes full of idiots with money, it's going down the drain.

I didn't check Ripple. Is their system that complicated and counter intuitive than normal windows user is not gonna crack it? I seriously doubt it is that hard.
I am gonna check that out later.

How old are people who use Facebook now? 40,50,60 year old, and you are claiming that they are killing facebook popularity I don't think so. I don't think you can compare Facebook with Twitter, these services are not gonna compete with each other in a direct way.

thew3apon

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Media and disinformation is probably the biggest threat to bitcoins existance.

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: Beliathon on March 19, 2015, 01:49:48 PM

Sentient true general A.I., but there's close to zero probability of such technology emerging in time to save fiat from the looming black hole that is bitcoin.

I'm thinking more swarm intelligence perhaps. The Internet of Cyber-Ant colonies gobbling all the money and putting us humans into highly efficient habitats.

croato

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I dont see any system able to replace Bitcoin. Ripple is just centralised shit and there will be lot of it in next years from big companies but bitcoin is decentralised and that is huge advantage. It is revolution of money. Other shitcoins are way behind Bitcoin even decentralised and most of their fancy things can be implemented in Bitcoin in case of need.

GTO911

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Quote from: logicalq on March 19, 2015, 02:40:48 PM

Thats just an algorithm. In terms of adoption, it will never be able to replace bitcoin.

You have a lot of reading to do first before posting

logicalq

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Quote from: GTO911 on March 19, 2015, 02:27:56 PM

I see the Cryptonote protocol the ultimate replacement to bitcoin

Thats just an algorithm. In terms of adoption, it will never be able to replace bitcoin.
I see facebook p2p payment system as a thread currently.

Orangina

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Of course not. Bitcoin is clearly a protocol for sending value around the internet. Any computer science geek can tell you it meets all the requirements to be a bona fide protocol.

GTO911

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I see the Cryptonote protocol the ultimate replacement to bitcoin

Beliathon

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https://youtu.be/PZm8TTLR2NU

Quote from: gentlemand on March 19, 2015, 01:57:22 PM

Quote from: Bit_Happy on March 19, 2015, 01:32:23 PM

If Ripple was much more user-friendly (for non-tech people), then they could have been a real threat to Bitcoin. The way they are (or were last time I checked), they will never grow past a small % of the potential user-base.

Wouldn't you class it as a payment protocol rather than a currency or store of value?

I would classify it as a scam.

gentlemand

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Welt Am Draht

Quote from: Bit_Happy on March 19, 2015, 01:32:23 PM

If Ripple was much more user-friendly (for non-tech people), then they could have been a real threat to Bitcoin. The way they are (or were last time I checked), they will never grow past a small % of the potential user-base.

Wouldn't you class it as a payment protocol rather than a currency or store of value? I know there's XRP but if Ripple functioned as intended, it having any value might end up being an impediment, not that I can figure out what they're on about half the time.

WindowedCore

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Quote from: Bit_Happy on March 19, 2015, 01:32:23 PM

If Ripple was much more user-friendly (for non-tech people), then they could have been a real threat to Bitcoin. The way they are (or were last time I checked), they will never grow past a small % of the potential user-base.

Yeah, I agree with you. Facebook started losing its popularity when old people started using it. Facebook is still big, but it's just not the same, which is why people have moved onto Twitter and other social media sources, because older people have no idea what the hell the point of Twitter is nor how to use it. When your user base becomes full of idiots with money, it's going down the drain.

Topic: What type of system would it take for you to regard it as a threat to Bitcoin? (Read 1531 times)