Topic: Why are all (alt-)Cryptocurrencies utter bullshit ? (Read 3396 times)

retard, making a topic about all altcoins are bullshit, but you have etherium  adress in your sig LOL, etherium is the most biggest bullshit ever, go ahead invest in a 100% premine coin with empty promisses LOL

PayCon solves all of your problems and cures world hunger too



https://bitcointalksearch.org/topic/anncon-paycon-hi-pos-litestake-multisend-tor-android-937480

Thanks for clarifying and you are quite right that I submitted here a quite inaccurate post. What I meant was that using the OP_RETURN field the - indeed very limited - data of a smart contract could be handled, for example by storing a document hash in the OP_RETURN field, and then a third party smart contract application could do the document hash related smart contract processing. What I meant was that in order to handle smart contracts using OP_RETURN field there is no need for a new digital currency like XCP, a third party app without having another currency on the 600+ strong altcoin scam market could do that smart contract processing.

Anyway, I am sure Counterparty is a wonderful technology and a great work of experienced engineers, terms of technicalities and implementation it is a wonderful piece of software, it is one of the best alt projects terms of the tech, still l believe as a business proposition it is a hopeless thing. No one is using it and no one will be using it in real world use cases, 1-2 years time nobody will remember what is Counterparty is.

Not all crypto is bullshit. Most are experiments of different concepts. However there are many which are pure P&d BS

OP + 'others', I haven't seen this amount of sockpuppets agreeing with each other in a long time  If Come-from-Above is here, where is UtopianFuture the main controlling sock? 

OP_RETURN size limit (which is no longer limited to 40 byte btw) has nothing to do with the execution of smart contracts on Bitcoin.

Also smart contracts issued on the counterparty platform are executed on bitcoin blockchain. The bitcoin devs will never add true smart contracts to bitcoin (script 2.0 is perhaps the closest) so counterparty did it for them, and for the mutual benefit of any bitcoin holders. Before if you wanted to run turing complete code you would have to leave bitcoin for an alternative platform like ethereum. The potential value-added implications of smart contracts alone on the bitcoin blockchain for bitcoin-holders stretch far beyond counterparties measly few million dollar market cap.

Further additons to plain bitcoin by counterparty:

* ability to easily create immutable/ineradicable records to the blockchain (useful for token controlled access,drm,property rights,membership schemes, equity distribution, proof-of-existence/) -- You don't need to use any XCP token for this, only bitcoin. You can issue a stock and distribute bitcoin dividends to holders using only bitcoins.

* trustless peer-to-peer order matching engine- A decentralised exchange on-top of the bitcoin blockchain That's more than necessary after the hundreds of millions of dollars worth of bitcoin stolen from centralised single-point of failures.

* peer-to-peer trustless (and provably fair) decentralised betting. That's a real game changer- a world's first as far as i know but has gone under the radar.

You're looking at counterparty as if it's trying to compete with bitcoin when it's complimentary. It's built on bitcoin blockchain for a reason & adding features to bitcoin which don't currently exist. You don't need to touch the XCP token nor even be aware of existence to benefit from that. Don't know how you could pick that out of everything to refer to as bullshits

gemz is the most simple way of using crypto i have ever seen, the top features they add are made from the ground up, the app is not even half complete. After using gemz i don't even wanna go back to regular crypto which are all non tech and a hassle to use. They understood how to proper execute simplicity integrated to a system that is mainstream and everyone is familiar with.

It is because none of them as of now have reached the level of bitcoins and very few people use them. Few people using them means their value in the market is very less and thus these coins fail to attain success and turn out to have no value.

@CrazyLoaf: sorry, mate, but your Indian's a Sicilian:

http://en.wikipedia.org/wiki/Iron_Eyes_Cody

Yeah, CfA has an undeniable point lurking in there: crypto is still too damn complicated for the average Joe Six-Pack, too complex and fiddly for Melissa Marketing-Manager and too time consuming for Larry Lawyer.

Only a small % of the world has the skills and is prepared to spend time on setting up clients and downloading blockchains, and that's us. 

So, the only way to get mainstream adoption is going to be by building useful stuff on top of the blockchain that everyone can use.
The future of the crypto experience for most people will be simple-looking, intuitive apps with all of the complexity hidden safely underneath.

[shillmode]
NXT is designed from the ground up to be a modular system that allows users to build their own projects on top of the NXT core and blockchain, and it is these projects that will drive NXT mainstream adoption, not the cool features that appeal to crypto-nerds.
[/shillmode]

yes banks truly r evil and bullshite

yet the vast amountz of altcoins r obviously merely utter bullshite


even dem better coins like NXT will never be used by Mr. Average Joe cuz them Joes dont even care about the #1 king Bitcoin at all.

 see BTC has like 1 million users and its 5 years around..... what is that in large perspective?  

yes, correct, barely a measly little fly whereas dem banks are huge dragons



~CfA~

some of hsbs's dealings

2012 US/Mexico
drug-gangs-launder-millions--faces-640million-fine.html#ixzz20tiyTaKK">http://www.dailymail.co.uk/news/article-2174785/HSBC-scandal-Britains-biggest-bank-let-
drug-gangs-launder-millions--faces-640million-fine.html#ixzz20tiyTaKK

2014  Bukarest over Luxemburg, cypres
through-eastern-europe-ending-at-hsbc-rbs-ubs-and-citibank/">http://21stcenturywire.com/2014/10/21/20-billion-british-money-laundering-scam-goes-
through-eastern-europe-ending-at-hsbc-rbs-ubs-and-citibank/

2014 Belgian
http://www.reuters.com/article/2014/11/17/us-hsbc-belgium-courts-idUSKCN0J118D20141117

2014 france
laundering-2014-11?IR=T">http://www.businessinsider.com/afp-hsbc-says-swiss-unit-charged-in-paris-with-money-
laundering-2014-11?IR=T

2012 france
http://hellasfrappe.blogspot.co.uk/2012/11/hsbc-caught-in-new-drug-money.html?m=1

2013 argentine
http://www.bbc.com/news/business-21840052

2002 spain
http://www.theguardian.com/business/2002/sep/24/10

Greece managed to loose the list with 2000 greek peoples names on the blacklist for tax
evasion and money laundering

fined for dealing with Hezbollah..............

Here's how to do money laundering, HSBC style:
http://www.rollingstone.com/politics/news/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213

http://www.reuters.com/article/2012/12/12/us-hsbc-probe-idUSBRE8BA05M20121212

I hope you understood right my comment.

Bitcoin has nearly zero anonymity (only if you manage to never provide your address to a merchant). Monero and Darkcoin (and some others) have, at least, improved anonymity.

But there you are all over NEM coin praising it? This thread is all about saying alts are junk appart from NEM, amirite?

I am not so sure. The reason the banks are mainstream is because they market themselves and are perceived to be convenient to use by Joe Sheeple. I cannot see any technical impediment why crypto-currencies could not achieve this. Besides purely technical things like implementing trusted, truncated blockchains (is this so hard?) and a concerted effort to achieve mass adoption of payment gateway modules, the main issue appears to be FIAT gateways. The powers that be will put as many blocks on this as they possibly can. However if the community is big enough it may be possible to build out by having people reuse their crypto over and over in the same way as the physical alternative currencies do now.

That's quite true, but the thread is not about to make judgement which system is the more corrupted, the banks or digital currencies, but try to figure out if alternative currencies can be mainstream, and since 99.9% of alts are completely useless BTC/LTC clones the answer is no, altcoins will never be used by the average Joe mentioned in the OP.

Err... you do realise that only Spinal Tap are allowed to use that expression, do you?


You describe the alt-crypto coin scene in a way that only someone who truly loves it could! 


Well, banking is pretty grubby, seedy and corrupt. HSBC were responsible for funding the criminal gangs in Mexico to go around beheading hundreds, if not thousands, of people. As well as market rigging, tax evasion conspiracies and mis-selling on an industrial scale. And they are mainstream.

I know crypto isn't perfect but, as far as I am aware, the banksters and financial institutions are a thousand times more criminal and corrupt.

This the best and most sensible thread up to date in the ALT section.

The utterly useless technology initiatives (99.9% of them by the way are just pathetic BTC/LTC clones) that known to mankind as alternative crypto currencies probably have been the most meaningless exercise in  technology and of course there is no chance that any of these digital excrements can go to mainstream.

Even BTC is having serious difficulties to be mainstream. Satoshi's underlying technology is truly revolutionary, features like smart contracts - which despite the 40 bytes limitation of OP_RETURN could be implemented in the BTC blockchain easily, and therefore there is no need for bullshits like Counterparty and other smart contract implementation - could change how we do business, but it is unclear that the crypto currency aspect of BTC can succeed, never mind altcoins.