Why Bitcoin? - page 4. | Bitcointalksearch.org

Hazir

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Quote from: kelsey on April 13, 2015, 05:00:18 PM

Quote from: dulldog on April 13, 2015, 11:35:47 AM

Quote from: kelsey on April 13, 2015, 08:05:13 AM

i've been around this community a few years and i still don't get why anyone would chose bitcoin.

don't get me wrong i believe in an alternative p2p currency, but to me bitcoin certainly doesn't cut it.

about the only answer people have is first mover advantage. but that's pretty much it.

bitcoin seems to, over time, be drifting more into a centralised system, core dev team where so few as 5 completely control the code, backed by what has come to light time and time again a very questionable central organisation.

have VC with their little startups jumping on board left right and center, and we know their goals Kiss

, bitcoin's heading more and more like being the bank product it was meant to be an alternative to Shocked

seems the only way to back bitcoin is keep your head it the sand and hope it'll all turn out good in the end........

Have you already found an alternative? Or it's just an concept/forecast by now?

well i think there is atleast one coin better the bitcoin, but this thread is more about the concept of looking elsewhere and not just being stuck in the bitcoin is best nothing could better it, mindset.

also having been behind the scenes in many a crypto, i've considered creating in my mind the ideal p2p currency, just many an issue i have with all current cryptos arent easy to solve.

So you asked us "Why bitcoin"? And I have another question for you. "If not the Bitcoin then what"? Are you telling us that the bitcoin is the dead end of evolution of cryptocurrency? Do you think we should abandon it and create some other coin now? Or do you think FIAT is enough and we don't need to bother ourselves with cryptocurrency at all?

kelsey

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Quote from: Adam_Allcock on April 13, 2015, 05:05:37 PM

Quote from: bitgeek on April 13, 2015, 10:43:25 AM

My question to the OP is why is this topic self moderated? Are you planning to influence the discussion by removing the posts you don't like?

If you want to ask people "why Bitcoin?" maybe it would be good to ask yourself "why fiat?". This question was already asked at least a 100 times on the forum.

Quote from: kelsey on April 13, 2015, 10:30:39 AM

very blinkered mindset, one thing i'm confident of is another p2p currency will surpass btc (not saying such exists yet).

Isn't this the natural way of things? Something will eventually surpass Bitcoin, just like Bitcoin will eventually make services like Western Union obsolete and will offer an alternative to the current banking system.

My guess? Hes about to pump a shitcoin.... Very typical for all the scamcoins bs...

who is?

i think that above discussion is more about something, that doesn't yet exist, replacing bitcoin eventually.

any shitcoin pumping in this thread will be deleted (hence, as stated earlier, the self moderation).

Adam_Allcock

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Quote from: bitgeek on April 13, 2015, 10:43:25 AM

My question to the OP is why is this topic self moderated? Are you planning to influence the discussion by removing the posts you don't like?

If you want to ask people "why Bitcoin?" maybe it would be good to ask yourself "why fiat?". This question was already asked at least a 100 times on the forum.

Quote from: kelsey on April 13, 2015, 10:30:39 AM

very blinkered mindset, one thing i'm confident of is another p2p currency will surpass btc (not saying such exists yet).

Isn't this the natural way of things? Something will eventually surpass Bitcoin, just like Bitcoin will eventually make services like Western Union obsolete and will offer an alternative to the current banking system.

My guess? Hes about to pump a shitcoin.... Very typical for all the scamcoins bs...

kelsey

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Quote from: dulldog on April 13, 2015, 11:35:47 AM

Quote from: kelsey on April 13, 2015, 08:05:13 AM

i've been around this community a few years and i still don't get why anyone would chose bitcoin.

don't get me wrong i believe in an alternative p2p currency, but to me bitcoin certainly doesn't cut it.

about the only answer people have is first mover advantage. but that's pretty much it.

bitcoin seems to, over time, be drifting more into a centralised system, core dev team where so few as 5 completely control the code, backed by what has come to light time and time again a very questionable central organisation.

have VC with their little startups jumping on board left right and center, and we know their goals Kiss

, bitcoin's heading more and more like being the bank product it was meant to be an alternative to Shocked

seems the only way to back bitcoin is keep your head it the sand and hope it'll all turn out good in the end........

Have you already found an alternative? Or it's just an concept/forecast by now?

well i think there is atleast one coin better the bitcoin, but this thread is more about the concept of looking elsewhere and not just being stuck in the bitcoin is best nothing could better it, mindset.

also having been behind the scenes in many a crypto, i've considered creating in my mind the ideal p2p currency, just many an issue i have with all current cryptos arent easy to solve.

kelsey

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Activity: 1876

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Quote from: bitgeek on April 13, 2015, 10:43:25 AM

My question to the OP is why is this topic self moderated? Are you planning to influence the discussion by removing the posts you don't like?

If you want to ask people "why Bitcoin?" maybe it would be good to ask yourself "why fiat?". This question was already asked at least a 100 times on the forum.

Quote from: kelsey on April 13, 2015, 10:30:39 AM

very blinkered mindset, one thing i'm confident of is another p2p currency will surpass btc (not saying such exists yet).

Isn't this the natural way of things? Something will eventually surpass Bitcoin, just like Bitcoin will eventually make services like Western Union obsolete and will offer an alternative to the current banking system.

i haven't deleted any posts and am happy to keep any on topic whether i agree or disagree, just i'm used to the alt section where people use any thread to promote their shitcoin Wink

again i didn't say 'why fiat' cause i'm more discussing out of crytpos why bitcoin.

i agree with your last comment, i think something could better bitcoin;

but there seems to be this attitude amongst some bitcoiners that bitcoin is it, nothing can better it, yet i am asking why, especially seeing bitcoin has many flaws, why bitcoin? other then first mover advantage why is bitcoin so perfect and can't be bettered?

dulldog

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Quote from: kelsey on April 13, 2015, 08:05:13 AM

i've been around this community a few years and i still don't get why anyone would chose bitcoin.

don't get me wrong i believe in an alternative p2p currency, but to me bitcoin certainly doesn't cut it.

about the only answer people have is first mover advantage. but that's pretty much it.

bitcoin seems to, over time, be drifting more into a centralised system, core dev team where so few as 5 completely control the code, backed by what has come to light time and time again a very questionable central organisation.

have VC with their little startups jumping on board left right and center, and we know their goals Kiss

, bitcoin's heading more and more like being the bank product it was meant to be an alternative to Shocked

seems the only way to back bitcoin is keep your head it the sand and hope it'll all turn out good in the end........

Have you already found an alternative? Or it's just an concept/forecast by now?

johnyj

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Quote from: kelsey on April 13, 2015, 09:32:30 AM

Quote from: johnyj on April 13, 2015, 09:12:30 AM

Bitcoin is just the first honest money on internet. In fact an honest money does not limited to bitcoin, as long as it is produced by inputting similar amount of value as its face value. From this regards, other coins could also have some value as their production cost

Universal acceptance is very important for money, from this regards, bitcoin has magnitudes wider acceptance than altcoins

production cost does not give something value.

why do you consider bitcoin the first honest money on the internet? what makes bitcoin honest?

If the cost is much lower than face value, then everyone will mine it and sell for quick profit, no one will buy, then the value will fall back to the production cost quickly. It is the demand and supply combination gives something value, however it is difficult to see how much demand there is, so cost act as an indicator, the real demand will look for the lowest possible cost to acquire the coin, which is mining

An honest money means free entry, e.g. everyone can make this money, thus its purchasing power will be similar to the cost of money creation, due to above arbitraging practice

Even litecoin is an honest money, since the cost is almost the same as its market value

bitgeek

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My question to the OP is why is this topic self moderated? Are you planning to influence the discussion by removing the posts you don't like?

If you want to ask people "why Bitcoin?" maybe it would be good to ask yourself "why fiat?". This question was already asked at least a 100 times on the forum.

Quote from: kelsey on April 13, 2015, 10:30:39 AM

very blinkered mindset, one thing i'm confident of is another p2p currency will surpass btc (not saying such exists yet).

Isn't this the natural way of things? Something will eventually surpass Bitcoin, just like Bitcoin will eventually make services like Western Union obsolete and will offer an alternative to the current banking system.

kelsey

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Quote from: thejaytiesto on April 13, 2015, 10:24:47 AM

Quote from: ashour on April 13, 2015, 08:13:42 AM

You could ask the same with facebook, why should someone use it instead of a different social network. The answer is simple facebook is the biggest social network with the most support worldwide. Bitcoin is like this the biggest crypto currency in the world, until a new crypto currency comes wich will have more support and more users than bitcoin we will still prefer bitcoin.

It's not exactly comparable, the analogy of the "first this or that". It will never be the same after Bitcoin, it solved too many unseen things and the protocol can and will adapt anything as needed. No coin will ever surpass BTC, it is what it is.

very blinkered mindset, one thing i'm confident of is another p2p currency will surpass btc (not saying such exists yet).

thejaytiesto

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Quote from: ashour on April 13, 2015, 08:13:42 AM

You could ask the same with facebook, why should someone use it instead of a different social network. The answer is simple facebook is the biggest social network with the most support worldwide. Bitcoin is like this the biggest crypto currency in the world, until a new crypto currency comes wich will have more support and more users than bitcoin we will still prefer bitcoin.

It's not exactly comparable, the analogy of the "first this or that". It will never be the same after Bitcoin, it solved too many unseen things and the protocol can and will adapt anything as needed. No coin will ever surpass BTC, it is what it is.

kelsey

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Quote from: Mike Christ on April 13, 2015, 10:04:31 AM

It's the most popular alternative currency; currencies get better the more people use them. I wouldn't use, say, altcoin-X, because if I wanted to make a purchase, I'd likely have to exchange altcoin-X into bitcoin or perhaps dollars, so I may as well cut out a step.

But if you're asking why bitcoin is the most popular and not some competitor, it's likely because bitcoin came first so it's the most established; everyone knows bitcoin, not altcoin-X or some other p2p system like, say, ripple. This may change in the future, nobody knows for sure.

my questionings coming from the angle of why are so many diehard bitcoiners, when its hard to envisage bitcoin being mass adopted, eg anon dev (cool in the crypto underworld not so to average joes or regulators) especially when anon devs hold a million stash etc, silkroad and illegal rep...list goes........first mover advantage yes, but paving the way hasn't come without cost.

(note i'm not arguing satoshi's stash, or any points about btc reputation ie USD used for more illegal etc....so no arguments on the neg just saying those perceptions exist).

umair01

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Having bitcoins, free's you from curency fluctuations, economic inflation, remittance fee, service/tax charges,funding your requirements without interest, approximate decimal value, although it has its vunerablaties, is similar to having an offshore account that can't be tracked

kelsey

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Quote from: GingerAle on April 13, 2015, 10:00:51 AM

Quote from: gentlemand on April 13, 2015, 09:50:27 AM

Quote from: kelsey on April 13, 2015, 09:47:26 AM

no because pretty much everyone who can figure out an exploit, wants a bitcoin to suceed.

I'm not so sure. There must be tens or hundreds of thousands with similar amounts of skill who would take enormous pride in killing it off if they could.

Well in all honesty there should be internal efforts to find exploits in order to fix them. I know I've read some papers discussing these. There was one relatively recently IIRC.

Back to "why bitcoin?"

1. I also think its reached the too big to fail status. It will be supported because it can't not be supported. If bitcoin fails it all fails (or takes a long time to recover)
2. It has the most secure network (most alts could be 51% with less than astronomical accumulation of hardware (POW) or currency (POS)).

yes the exploit was a sidetrack as most other cryptos suffer similar.

but yeah I'd agree with the too big to fail angle.

not sure about the security v other alts, as pure hash doesn't ensure security. pos/pow combos could be argued as more secure, though pos well, less secure then most realise (n only takes mini resources/currency to exploit, tested that alot).

Mike Christ

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It's the most popular alternative currency; currencies get better the more people use them. I wouldn't use, say, altcoin-X, because if I wanted to make a purchase, I'd likely have to exchange altcoin-X into bitcoin or perhaps dollars, so I may as well cut out a step.

But if you're asking why bitcoin is the most popular and not some competitor, it's likely because bitcoin came first so it's the most established; everyone knows bitcoin, not altcoin-X or some other p2p system like, say, ripple. This may change in the future, nobody knows for sure.

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Quote from: gentlemand on April 13, 2015, 09:50:27 AM

Quote from: kelsey on April 13, 2015, 09:47:26 AM

no because pretty much everyone who can figure out an exploit, wants a bitcoin to suceed.

I'm not so sure. There must be tens or hundreds of thousands with similar amounts of skill who would take enormous pride in killing it off if they could.

Well in all honesty there should be internal efforts to find exploits in order to fix them. I know I've read some papers discussing these. There was one relatively recently IIRC.

Back to "why bitcoin?"

1. I also think its reached the too big to fail status. It will be supported because it can't not be supported. If bitcoin fails it all fails (or takes a long time to recover)
2. It has the most secure network (most alts could be 51% with less than astronomical accumulation of hardware (POW) or currency (POS)).

kelsey

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Quote from: gentlemand on April 13, 2015, 09:50:27 AM

Quote from: kelsey on April 13, 2015, 09:47:26 AM

no because pretty much everyone who can figure out an exploit, wants a bitcoin to suceed.

I'm not so sure. There must be tens or hundreds of thousands with similar amounts of skill who would take enormous pride in killing it off if they could.

i'll give an example that doesn't give anything away to anyone with malice intent. pools have nearly 51% bitcoin in the recent past but had no malice intent and averted it.

now one could setup a pool and do so, note not that I think a 51% attack is even a real problem so I am giving such as just an example.

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Quote from: kelsey on April 13, 2015, 09:47:26 AM

no because pretty much everyone who can figure out an exploit, wants a bitcoin to suceed.

I'm not so sure. There must be tens or hundreds of thousands with similar amounts of skill who would take enormous pride in killing it off if they could.

kelsey

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Quote from: gentlemand on April 13, 2015, 09:45:41 AM

Quote from: kelsey on April 13, 2015, 09:43:26 AM

Quote from: Amph on April 13, 2015, 09:38:23 AM

it seems that it take a certain effort, seeing as no one has exploited it since years

you know being around yourself wouldn't take much to think out a plan, just you, or I or anyone who could figure it out has no motivation too, but thats not saying someone sometime would.

So out of all the skilled people on the planet who could take it apart to either - enrich themselves, have some lulz, prove themselves superior to every one else in the world or do it on behalf of multiple malevolent entities, not a single one has done it because they can't quite be arsed?

no because pretty much everyone who can figure out an exploit, wants bitcoin to suceed.

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Quote from: kelsey on April 13, 2015, 09:43:26 AM

Quote from: Amph on April 13, 2015, 09:38:23 AM

it seems that it take a certain effort, seeing as no one has exploited it since years

you know being around yourself wouldn't take much to think out a plan, just you, or I or anyone who could figure it out has no motivation too, but thats not saying someone sometime would.

So out of all the skilled people on the planet who could take it apart to either - enrich themselves, have some lulz, prove themselves superior to every one else in the world or do it on behalf of multiple malevolent entities, not a single one has done it because they can't quite be arsed?

kelsey

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Quote from: Amph on April 13, 2015, 09:38:23 AM

it seems that it take a certain effort, seeing as no one has exploited it since years

you know being around yourself wouldn't take much to think out a plan, just you, or I or anyone who could figure it out has no motivation too, but thats not saying someone sometime would.

Topic: Why Bitcoin? - page 4. (Read 4342 times)