Topic: Why don't we create a new crypto and call it bitcoin? - page 2. (Read 1569 times)

@ mokahless

Your point #1 and #3, could you expand on exactly what you mean vs how Bitcoin is now?


I initially did start this thread because of the recent block size discussions which i think have a negative effect on bitcoin, the feeling i have whenever people argue on this is that bitcoin is vulnerable, so i think that we should find a permanent solution to the problem and not fork the chain every other day.


#1 When i said decentralized forever i meant a system where there is more incentives to run multiple nodes , i cant elaborate much on that as i said im not really technical but implement something in the code to incentivize miners to run multiple nodes,

#3 i read a lot of argument about the blocksize and the transaction fee one came up a lot so i thought why not do a crypto where transactions are free or cheap and will remain like this regardless in the future?

You can just sell your bitcoins and buy a some altcoins.
I did it.
Bitcoin is the shitcoin.

Different people have different opinions on what features and characteristics a perfect currency would have.  Find the one that you consider perfect and use it.

lol what common sense? elaborate?

Plenty of altcoins have most of these features already


- privacy/anonymity (i read monero was good for this, dash too and there are existing solutions)
- low transactions fee forever ( some altcoins even have them for free and it will be forever)
- instant or near instant transaction speed (many altcoins have this feature)

- fully decentralized forever ( this might be the biggest problem, but if a system is implemented where mining capacity/node is limited
then it could potentially remain decentralized)


so as much as you want it to , my question is not lacking common sense

you should probably try to explain with argument why this wouldn't be possible and why was my question so stupid?

Let's all ignore this asshole and try to get a discussion going (I literally just went to his history, clicked a random page # in the 50s, didn't scroll down and both posts that were on my screen were him calling someone a dumbass and someone else a dumbass and stupid. Clearly not a very welcoming person.).

On second thought, let's not ignore him and just edit his post instead:


He makes a valid point. I'll admit I haven't been keeping up with alt coins in the past year but I haven't seen anything better that I think would be completely beneficial to be added to Bitcoin if it were to be "done over" so to speak.

Your point #1 and #3, could you expand on exactly what you mean vs how Bitcoin is now?

As for #2, I think it's fine as a layer on top of Bitcoin. It's not something everyone wants or needs. What's everyone's thoughts on the actual complications of creating a coin with this in mind from the beginning?

#4. This is one I disagree with. Faster transaction times would be nice but they also mean more stale shares, higher network requirements and a larger blockchain. Anyone know how this could affect a coin that is used as much as Bitcoin?

On a side note, a common argument I hear against the supposed "faster transactions" in Litecoin is that it would also mean more confirmations would be required to be as secure, therefore negating the point. That said, isn't it better to have one confirmation in 2 minutes vs no confirmations in 2 minutes? On the other side, unless confirmations are within a few seconds, there's no real advantage vs Bitcoin as off-chain/ unconfirmed transactions would still be required for some services (people don't want to wait 2 minutes at a POS terminal or even online just as they don't want to wait 10 minutes. I'd even argue Bitcoin is better off with 10 minute confirmations as it better encourages other solutions. The last humble bundle purchase I made went through within seconds). Does anyone more in tune with the lower level working of Bitcoin know what kind of effects several second confirmations would have on a network such as Bitcoin?

don't assume every one on this forum is tech sawy, my question was genuine no need to be a dick about it

thank you for your constructive critisism

I don't have technical knoweldge so i know its a naive question maybe.

how are other cryptocurrencies dealing with scalability? ( those that have the solution to scale)

lol that would be a good name actually
seriously so you are saying it's impossible to do correct ?

How are you going to make something that lasts forever and is agreed on 100%? I can guarantee you that at some point in time, one of the systems supposed to last "forever" will fail. I can also guarantee you that you can't get everyone to agree. Someone will dissent, someone will try to change something to make it better and arguments will ensue. Furthermore you can't possibly address every single issue and find a solution that lasts forever. Another issue will show up that no one ever thought of and solutions thought to work will be broken.

If we could create a completely perfect cryptocurrency, should we not call it UtopiaCoin?

I was wondering why don't we use innovations done with altcoins to create a new crypto with features that 100% of bitcoiners/exchanges/miners will agree with, that answers all of the scalabilty issues/others that might occur in the future and call it the new bitcoin?

 few features that i think would gain the large majority

- fully decentralized
- high number of transac/sec
- low transactions fee
- instant or near instant transaction speed

the 2 most important as i see it being

- fully decentralized
- high number of transac/sec

maybe im missing something?



*this post has been edited