Will Bitcoin be replaced by another cryptocurrency? - page 229.

iamnotback

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Quote from: Karartma1 on June 09, 2016, 04:49:14 AM

When Smart Contracts will be implemented on the Bitcoin Blockchain that will be the standard. Even if a better coin or project will arise Bitcoin will always have its own appeal.

External data feeds break Nash equilibrium of mining. The only way to have this work securely is to entirely centralize mining, but this is where BitCON is headed any way.

There are some types of Smart Contracts that work without external data feeds, but not many. Basically Smart Contracts is bullshit. It is just another way to put all our digital information in public and under centralized control, so we are enslaved.

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When Smart Contracts will be implemented on the Bitcoin Blockchain that will be the standard. Even if a better coin or project will arise Bitcoin will always have its own appeal.

iamnotback

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Quote from: ripplehd on June 09, 2016, 04:19:02 AM

no don't think it will its been around for nearly a decade and it should start getting increasingly more popular.

How can it get more popular if it can't scale Huh

Hope you realize BitCON is less popular than a shitty, bottom tier social network.

Even a moderately popular mobile app has more users than BitCON.

Delusion is nice isn't it.

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no don't think it will its been around for nearly a decade and it should start getting increasingly more popular.

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Quote from: panju1 on June 08, 2016, 11:37:59 AM

Quote from: alyssa85 on June 08, 2016, 09:34:58 AM

Quote from: iamnotback on June 08, 2016, 12:39:33 AM

Quote from: calkob on June 07, 2016, 06:49:24 PM

Re: Will Bitcoin be replaced by another cryptocurrency?

Yes it could happen but i doubt very much it will happen the short to medium term, to actually make bitcoin obsolete would be a achievement.

It would have to offer something very important for mass adoption which Bitcoin doesn't offer.

Transactions that confirm in a minute?

Seriously, mass adoption means people actually use it for their shopping. If you send coins but the vendor doesn't receive them, then you are in limbo - some ordinary people will even accuse the vendor of doing something shady, when the problem is that the transaction isn't even in the blockchain.

It will be something that simple that will prevent bitcoin mass adoption.

Transactions that confirm definitely in a minute aren't a problem.
There were some places which accepted zero confirmation transactions for low value items, because they were sure that the transaction would confirm. This is no longer the case.

The faster the confirmation, the higher the risk of double spending. I'm pretty sure that I still know of some places that allows for 0 confirmation transactions as long as it fulfills several criteria and has a low risk. Bitcoin has worked to overcome this problem with several solutions that allows for bigger transaction volume.

Bitcoin is pretty much the most successful cryptocurrency to date and is the most stable with lots of people working on it. It is very hard for any other cryptocurrency to compete with it.

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bitcoin will never be replaced. it is the first and biggest cryptocurrency that came to exist and it is the pioneer of this technology which everybody else is just copying from to create their own alternative coin (altcoin).

and to those who are saying ethereum will replace bitcoin I have to say there have been a lot of ethereums before eth with a different name who claimed to be the "thing" and they even came close but they have all faded away in the history.

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Quote from: panju1 on June 08, 2016, 11:37:59 AM

Quote from: alyssa85 on June 08, 2016, 09:34:58 AM

Quote from: iamnotback on June 08, 2016, 12:39:33 AM

Quote from: calkob on June 07, 2016, 06:49:24 PM

Re: Will Bitcoin be replaced by another cryptocurrency?

Yes it could happen but i doubt very much it will happen the short to medium term, to actually make bitcoin obsolete would be a achievement.

It would have to offer something very important for mass adoption which Bitcoin doesn't offer.

Transactions that confirm in a minute?

Seriously, mass adoption means people actually use it for their shopping. If you send coins but the vendor doesn't receive them, then you are in limbo - some ordinary people will even accuse the vendor of doing something shady, when the problem is that the transaction isn't even in the blockchain.

It will be something that simple that will prevent bitcoin mass adoption.

Transactions that confirm definitely in a minute aren't a problem.
There were some places which accepted zero confirmation transactions for low value items, because they were sure that the transaction would confirm. This is no longer the case.

I will provide 1 second transactions that are confirmed on a block chain that can't be centralized by miners.

BitCON's 0-confirmation transactions depend on propagation, thus they can't scale without centralization of control. And in fact they can't scale to 1000s of transactions per second and certainly not millions of txns/sec required for Internet microtransactions. Lightning Networks (LN) is proposed, but it can't scale either and has other serious clusterfuck issues. Vcash's Zerotime also can't scale.

So sorry, BitCON can't scale without being centralized. But if it is centralized, then you lost all the advantages of not being fiat and you've added the 666 enslavement.

Quote from: rizzlarolla on June 08, 2016, 05:26:33 PM

Security and reliability cannot be copied.
(dont adopt segwit)

SegWit is the admission of the defeat of decentralization, BitCON will become fully centralized (which is what LN requires any way):

Quote from: iamnotback on June 07, 2016, 11:37:59 AM

LN can't send a payment from Bitcoin address to any Bitcoin address. It requires users establish accounts in the LN before they can be eligible, i.e. it is an opt-in system and it is not persistent.

LN is an incredibly complex Rube Goldberg kludge patched on top of an inadequate block chain design and there IS a better solution coming. You have to discard the Bitcoin block chain and Satoshi's design and start over.

In general, Bitcoin is moving towards centralization over the control of which nodes validate and thus which can do capital controls and KYC enforcement on transactions:

https://bitslog.wordpress.com/2016/01/08/spv-mining-is-the-solution-not-the-problem/
http://www.bitcoinunlimited.info/1txn/

Cryptock

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definitely ethereum is the top contender, but maybe it will fade away like other

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Quote from: Hamukione on June 08, 2016, 09:34:01 AM

Quote from: funkenstein on June 08, 2016, 09:21:10 AM

Quote from: iamnotback on June 08, 2016, 07:48:56 AM

And BitCON will become 666 more oppressive+totalitarian than the fiat cash we had before it:

You are supporting the destruction of the freedom of mankind. Thank you for your unwavering, radicalised dedication to your geek-cool enslavement system ideals.

Lol what?

How can public coin, an open system for all to see and count the money supply, be more oppressive then "your leaders can print as much as they want for themselves at anytime and you will never know"?

If you are worried that an address is being watched - use a new one!

Sounds like a whiny conspiracy SJW to me..

Just let him sit alone.. At some point he will either figure out that he isnt cool and stop.. Or shoot and kill randoms in the street.

The centralized control over mining can not only do 666 control that changing addresses won't help you with, it can also debase the coin.

It is sad to see so many n00bs don't understand the technology and blindly support their own enslavement.

If you think politics will stop debasement, you need to argue against 6000+ years of human history where it didn't.

Hamukione, how can you look yourself in the mirror after attacking the messenger who sincerely tries to explain to you, and you ignorantly berate me. You will proudly enslave mankind. Congrats.

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Quote from: Moneroman88 on June 07, 2016, 04:19:53 PM

Does it make sense to believe that Bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make Bitcoin obsolete?

another crypto-currency can not make bitcoin obsolete, that doesn't even make sense. another crypto-currency is just another one, it surely can become big and even become bigger than bitcoin in the future but that doesn't mean making bitcoin "obsolete" it can only take the market at best.

and i have to say no such crypto-currency is created yet if you are having some specific name in your mind

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Quote from: MWesterweele on June 08, 2016, 10:33:14 PM

Nothing remains at the top,everything has it ends.Yes bitcoin maybe and can be replaced by another crypto currency on the future.Maybe a new bloom coin or one of the promising coins online now like eth and ltc and more.Bitcoin no matter how long it will stay at the top it wil still drop and be at the second or even worst.

No LTC isn't one of those that might take over. its been existing for years and has remained an underdog still. i guess it will stay that way.
one that may surprise us all in the coming years will be DAO.

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Nothing remains at the top,everything has it ends.Yes bitcoin maybe and can be replaced by another crypto currency on the future.Maybe a new bloom coin or one of the promising coins online now like eth and ltc and more.Bitcoin no matter how long it will stay at the top it wil still drop and be at the second or even worst.

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Nothing lasts forever and change is the only thing constant in this world. So yeah, bitcoin will be replaced by something with a different concept. When and how that will happen is something that I'll never know. There are new innovations that we see everyday and new things coming out that we thought we didn't need suddenly becoming a big part of our lives.

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I dont think so, bitcoin is really established now and it will take a lot of effort to replace it, nothing has the capacity like bitcoin does.

So i dont see any chance fo this to happen.

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Quote from: DeDordtenaar on June 08, 2016, 05:34:57 PM

Quote from: DuckKeeper on June 08, 2016, 10:31:18 AM

i dont think bitcoin will be replaced by other cryptocurrencys only if the other are more interested to make money with but i dont think there would come another cryptocurrency because the bitcoin is not here for long time.

I think that might happen? but the possibility of it happening is very small? although the new cryptocurrency more sophisticated it is not necessarily able to defeat and replace bitcoin. many said that etherum will replace bitcoin for etherum have more sophisticated technology. but see now etherum experienced a drop in prices

let eth compete with btc value prive before it happens but for now, btc has 5000% value than eth so thats not necessary going to happen

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Quote from: DuckKeeper on June 08, 2016, 10:31:18 AM

i dont think bitcoin will be replaced by other cryptocurrencys only if the other are more interested to make money with but i dont think there would come another cryptocurrency because the bitcoin is not here for long time.

Yes sir I'm agree with you, the devotee of BITCOIN is increase every time. So many other cryptocurrencys come up and then gone, but not to BITCOIN I think it is will be alive forever.

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how do you find out about new cryptocurrency?

genos

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Any store can buy, sell, and accept Crypto

I think it is impossible, BITCOIN will not be replaced by another currency because very very much devotee in the world, and in my country the devotee of bitcoin is increase every time. That's why I think BITCOIN will not replaced.

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Quote from: DuckKeeper on June 08, 2016, 10:31:18 AM

i dont think bitcoin will be replaced by other cryptocurrencys only if the other are more interested to make money with but i dont think there would come another cryptocurrency because the bitcoin is not here for long time.

I think that might happen? but the possibility of it happening is very small? although the new cryptocurrency more sophisticated it is not necessarily able to defeat and replace bitcoin. many said that etherum will replace bitcoin for etherum have more sophisticated technology. but see now etherum experienced a drop in prices

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Quote from: Cuidler on June 08, 2016, 05:09:48 PM

Quote from: rizzlarolla on June 08, 2016, 03:47:09 PM

Quote from: Lauda on June 07, 2016, 04:21:39 PM

In order for the cryptocurrency space to thrive, it would be most suitable if there were multiple coins at the top and not just one (as currently Bitcoin is).

Oh thanks staff. Knock bitcoin users again.
I thought bitcoin was divisible enough to cope.

I think its rather excuse why not try to scale Bitcoin onchain a bit instead.

But I think there is not reason for several coins, because you add unnecessary ineffectiveness when you have to convert from one coin to another and pay exchange fees (and you have to use centralized exchange service). Plus it is more complex for average person when he has to choose from more cryptocoins what to pay with.

I think your probably right. there is no reason - to a bitcoiner - for "multiple" coins.

No other alt has integrity, as far as I can see.
Tech can be copied in the gold rush to the next alt.

Security and reliability cannot be copied.
(dont adopt segwit)

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