Topic: Who is working on Bitcoin3? (Read 791 times)

With B² level code there isn't going to be a network effect advantage as Mastercoin, Counterparty, and Colored Coin all use the same protocol layer. None of them will become universally accepted, but instead will compete as local currencies and derivatives. Bitcoin will be the SDR/Gold. B² will be used by enterprises willing to back them either financially or by fiat.

People should be working on B³ software instead of re-inventing the wheel and muddying the waters with completely new coins  or they will have the same done to them as technology improves. nLockTime and m-of-n have so much potential when custom clients are designed that manage them. The next Excel type spreadsheet that incorporates triple entry accounting for a transparent corporate structure would revolutionize small business and cottage industries.

What can I say when it comes to real ambitious projects like Ethereum? The theory is that Ethereum would make secondary instruments much easier and versatile because there is increased functionality in the protocol. I am reminded of the KISS principle. Bitcoin's simplicity may be it's strength. If you screw up something built on top of it, at least you don't break the whole thing.

All of life is based on only four DNA letters. Sure it's messy and inefficient, but life's simplicity also makes it adaptable. Complex systems are parasitically joined to create new ecosystems. It's called emergent complexity. A simple system acts like a glue that allows very complex systems to evolve. Bitcoin is like DNA. Ethereum is likely to be too internally complex and won't be easy to adapt to future technological advances. It may end up that Ethereum functionality becomes just as deprecated as Bitcoin and that Bitcoin developers will solve the problems.

Wouldn't it just be better to develop closed sourced, trust-based, and proprietary B² and B³ for private interests if you just want to develop cool new things for money? I am sure there is already plenty of that going on. Cryptocurrency speculators should be wary of B² scamcoins. Let corporations develop them and pay for them. Bitcoin is the stock they will need as operating capital.

Finally, there will be a B⁴. I'm not saying it's aliens...