Why we need alternate chains. | Bitcointalksearch.org

Monster Tent

full member

Activity: 238

Merit: 100

Quote from: dust on March 08, 2013, 03:02:12 AM

Quote from: Monster Tent on March 08, 2013, 02:47:11 AM

Once you get to a stage where your client is using 15gb bandwidth a week it defeats the purpose of having a p2p currency when you will be forced to use an online wallet which means your coins can be traced.

No alternative coins have features that reduce bandwidth usage. The only reason they are less bandwidth intensive is because less people are using them.

Quote from: Monster Tent on March 08, 2013, 02:47:11 AM

Donate to wikileaks from blockchain.info and receive a drone attack through your window Cool

Bitcoin can be used anonymously if desired. Even blockchain.info wallets can be used through tor.

Quote from: Monster Tent on March 08, 2013, 02:47:11 AM

If bitcoin gets to this stage anyone who values financial privacy will not use it. So its good to have alternatives because using a thin client that relies on someone elses server isnt the answer.

No alternative coins are any different in terms of privacy than bitcoin is.

MAC computers have less viruses because less people use them

In the same way you are less likely to get your litecoin wallet stolen than your bitcoin one

weex

legendary

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I would say the benefit to alternate chains is diversification to technical attack for the cryptocurrency ecosphere.

You may also be able to reduce your exchange rate risk by holding more than one. Finally, there is some utility to being able to transfer value from one chain to another.

Finally, wome think that in the long run Bitcoin will be more of a financial backbone and other chains will be better suited for everyday use.

Only time will tell.

markm

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Central servers for wallets are big targets for KYC and AML and so on surely?

Could they even afford to allow Tor users, wouldn't allowing them be regarded as violation of KYC / AML stuff?

Or they could just confiscate Tor users money. How can anyone sue them about it anonymously?

-MarkM-

dust

hero member

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Merit: 1000

Quote from: Monster Tent on March 08, 2013, 02:47:11 AM

Once you get to a stage where your client is using 15gb bandwidth a week it defeats the purpose of having a p2p currency when you will be forced to use an online wallet which means your coins can be traced.

No alternative coins have features that reduce bandwidth usage. The only reason they are less bandwidth intensive is because less people are using them.

Quote from: Monster Tent on March 08, 2013, 02:47:11 AM

Donate to wikileaks from blockchain.info and receive a drone attack through your window Cool

Bitcoin can be used anonymously if desired. Even blockchain.info wallets can be used through tor.

Quote from: Monster Tent on March 08, 2013, 02:47:11 AM

If bitcoin gets to this stage anyone who values financial privacy will not use it. So its good to have alternatives because using a thin client that relies on someone elses server isnt the answer.

No alternative coins are any different in terms of privacy than bitcoin is.

Monster Tent

full member

Activity: 238

Merit: 100

Once you get to a stage where your client is using 15gb bandwidth a week it defeats the purpose of having a p2p currency when you will be forced to use an online wallet which means your coins can be traced.

Donate to wikileaks from blockchain.info and receive a drone attack through your window Cool

Believe it or not some places have bandwidth caps and you can be shut out of the network if you value controlling your own wallet.

If bitcoin gets to this stage anyone who values financial privacy will not use it. So its good to have alternatives because using a thin client that relies on someone elses server isnt the answer.

Topic: Why we need alternate chains. (Read 606 times)