Topic: Will another currency overtake bitcoins? - page 2. (Read 3372 times)

Quote from: Odalv on May 12, 2013, 05:37:03 PM

Any decentralized currency that achieves instant (less than a minute) transactions, while remaining without vulnerability, will take off, leaving bitcoin in the dust. Yet there's a good chance that bitcoin might become this currency, or that this currency will not be possible in an ideal way.

Open Transactions as the next layer over bitcoin blockchain will work great.
a) very fast .. under 1 ms
b) does not require transaction in blockchain (OT will use blockchain only for clearing ... 1 transaction daily/weekly/monthly/yearly? .. is enough)

EDIT: it will work even GOVERNMENT ban bitcoin, ... blockchain is your bank / (government can disable new transactions ) but he cannot change history. (already existing transactions)

That's currently the only known method of instant transactions with crypto currencies, and is how Ripple itself works, yet it remains centralized. It can be destroyed, it can become malicious, it is not 100% safe, and won't be largely adopted by bitcoin enthusiasts.

Ripple is excellent example how it will not to work
1. centralized
2. malicious
3. not ~~100%~~ safe
4. won't be ~~largely~~ adopted

... :-)

I see now that it is not based on a centralized model or minority trust. I'll look into it further. Will it be adopted, you think?

In bitcoin community any bitcoin holder can choose how to spend his bitcoins.

EDIT: sell for $115 ($50, ... $1500) or rule the world

Abandon

member

Activity: 112

Merit: 10

Quote from: Abandon on May 12, 2013, 05:30:09 PM

Quote from: Abandon on May 12, 2013, 05:30:09 PM

Any decentralized currency that achieves instant (less than a minute) transactions, while remaining without vulnerability, will take off, leaving bitcoin in the dust. Yet there's a good chance that bitcoin might become this currency, or that this currency will not be possible in an ideal way.

Open Transactions as the next layer over bitcoin blockchain will work great.
a) very fast .. under 1 ms
b) does not require transaction in blockchain (OT will use blockchain only for clearing ... 1 transaction daily/weekly/monthly/yearly? .. is enough)

EDIT: it will work even GOVERNMENT ban bitcoin, ... blockchain is your bank / (government can disable new transactions ) but he cannot change history. (already existing transactions)

That's currently the only known method of instant transactions with crypto currencies, and is how Ripple itself works, yet it remains centralized. It can be destroyed, it can become malicious, it is not 100% safe, and won't be largely adopted by bitcoin enthusiasts.

Ripple is excellent example how it will not to work
1. centralized
2. malicious
3. not ~~100%~~ safe
4. won't be ~~largely~~ adopted

... :-)

I see now that it is not based on a centralized model or minority trust. I'll look into it further. Will it be adopted, you think?

Odalv

legendary

Activity: 1414

Merit: 1000

Any decentralized currency that achieves instant (less than a minute) transactions, while remaining without vulnerability, will take off, leaving bitcoin in the dust. Yet there's a good chance that bitcoin might become this currency, or that this currency will not be possible in an ideal way.

Open Transactions as the next layer over bitcoin blockchain will work great.
a) very fast .. under 1 ms
b) does not require transaction in blockchain (OT will use blockchain only for clearing ... 1 transaction daily/weekly/monthly/yearly? .. is enough)

EDIT: it will work even GOVERNMENT ban bitcoin, ... blockchain is your bank / (government can disable new transactions ) but he cannot change history. (already existing transactions)

That's currently the only known method of instant transactions with crypto currencies, and is how Ripple itself works, yet it remains centralized. It can be destroyed, it can become malicious, it is not 100% safe, and won't be largely adopted by bitcoin enthusiasts.

Ripple is excellent example how it will not to work
1. centralized
2. malicious
3. not ~~100%~~ safe
4. won't be ~~largely~~ adopted

... :-)

dopamine

hero member

Activity: 486

Merit: 500

Markets will determine if bitcoins will get replace and so far nothing has come close to what bitcoins offer.

Abandon

member

Activity: 112

Merit: 10

Any decentralized currency that achieves instant (less than a minute) transactions, while remaining without vulnerability, will take off, leaving bitcoin in the dust. Yet there's a good chance that bitcoin might become this currency, or that this currency will not be possible in an ideal way.

Open Transactions as the next layer over bitcoin blockchain will work great.
a) very fast .. under 1 ms
b) does not require transaction in blockchain (OT will use blockchain only for clearing ... 1 transaction daily/weekly/monthly/yearly? .. is enough)

EDIT: it will work even GOVERNMENT ban bitcoin, ... blockchain is your bank / (government can disable new transactions ) but he cannot change history. (already existing transactions)

That's currently the only known method of instant transactions with crypto currencies, and is how Ripple itself works, yet it remains centralized. It can be destroyed, it can become malicious, it is not 100% safe, and won't be largely adopted by bitcoin enthusiasts.

Odalv

legendary

Activity: 1414

Merit: 1000

Any decentralized currency that achieves instant (less than a minute) transactions, while remaining without vulnerability, will take off, leaving bitcoin in the dust. Yet there's a good chance that bitcoin might become this currency, or that this currency will not be possible in an ideal way.

Open Transactions as the next layer over bitcoin blockchain will work great.
a) very fast .. under 1 ms
b) does not require transaction in blockchain (OT will use blockchain only for clearing ... 1 transaction daily/weekly/monthly/yearly? .. is enough)

EDIT: it will work even GOVERNMENT ban bitcoin, ... blockchain is your bank / (government can disable new transactions ) but he cannot change history. (already existing transactions)

EDIT2: I do not believe, it is possible to create an clone (alt-coin). ... you did not understand what is bitcoin, and all ideas not yet implemented in current bitcoin beta version.

Abandon

member

Activity: 112

Merit: 10

Any decentralized currency that achieves instant (less than a minute) transactions, while remaining without vulnerability, will take off, leaving bitcoin in the dust. Yet there's a good chance that bitcoin might become this currency, or that this currency will not be possible in an ideal way.

skull88

hero member

Activity: 683

Merit: 500

Litecoin is close but Ripple has, apparently, already done it.

http://www.thebitcointrader.com/2013/05/ripple-is-now-tsunami.html

So if I make a coin that has 1 billion coins and sell one for 1000$, I created a coin that is bigger than both of them? Shouldn't be that hard Cheesy

Odalv

legendary

Activity: 1414

Merit: 1000

Wait, I'm confused.

"Market cap really means nothing in essence when you can simply change the total units in circulation"

I understand it's tied to the number of, in this case, coins... but it's also tied to a value. They are saying there is $1.3 billion in ripple, no?

As I say I'm confused.

be confused. It is up to you. Do not confuse other. (bad karma)

Odalv

legendary

Activity: 1414

Merit: 1000

the argument is that they have a valuation of 1.3 billion USD... no?

" the XRP market cap is $1.43 billion USD."

That's big, no? They say it's going to $10 billion?

Everybody can make nice site saying what they want. Bitcoin is able to prove.

smoothie

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Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Market cap really means nothing in essence when you can simply change the total units in circulation to any large number of your choosing.

Hardly a way to be > Bitcoin.

smoothie

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Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper