Topic: When will true competitors to Bitcoin Arise (Read 798 times)
Thats what Ripple is trying to do. (albeit at a smaller scale). Premine the coins and try to prop up the price.
I don't see why any large corporation would do this though. There wouldn't be much in it for them.
You could patent the ASIC and try to make money on the miners
I agree right now there is limited incentive for a corporation to do this but
that incentive grows the better bitcoin does. Eventually limited will become enough.
I don't think anything premined will ever be a true competitor. Community won't be interested.
I don't see why any large corporation would do this though. There wouldn't be much in it for them.
... They would simply be wasting money and effort on promoting it.
... They would simply be wasting money and effort on promoting it.
You mean like Ripple.
I don't see why any large corporation would do this though. There wouldn't be much in it for them.
If there was an incentive, it would involve high fee's or something which would not be following in the reason behind Bitcoins success. They would simply be wasting money and effort on promoting it.
It's definitely a possibility nonetheless.
If there was an incentive, it would involve high fee's or something which would not be following in the reason behind Bitcoins success. They would simply be wasting money and effort on promoting it.
It's definitely a possibility nonetheless.
Not the altcoins in existance now but heavily advertised corporate efforts that are rolled out simultaneously with their own ASIC devices based on some other proof of work.
Probably going to happen sooner or later and the higher BTC goes the more likely this will happen sooner.
Advertising for such a coin would say things like
1) Its less risky then bitcoin because it does not have massive amounts of coins in the hands of a mysterious founder and a few early adopters.
2) More equal (get in on the ground floor instead of a "mostly" premined currency).
I think the idea behind BTC is revolutionary and here to stay. But that same idea can be applied to a Google Coin or an Amazon Coin.
How much of a risk is this to BTC
Probably going to happen sooner or later and the higher BTC goes the more likely this will happen sooner.
Advertising for such a coin would say things like
1) Its less risky then bitcoin because it does not have massive amounts of coins in the hands of a mysterious founder and a few early adopters.
2) More equal (get in on the ground floor instead of a "mostly" premined currency).
I think the idea behind BTC is revolutionary and here to stay. But that same idea can be applied to a Google Coin or an Amazon Coin.
How much of a risk is this to BTC
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