at this point every thing that will be created with slighlty better features than bitcoin and based on a decentralized system(because otherwise it would rubbish and i would not even consider it) it would be a clone of bitcoin
i can not even imagine something that truly offer something revolutionary as bitcoin for the money payment system
Topic: Will you switch to a new technology, if it offers better features than Bitcoin? - page 4. (Read 2443 times)
April 04, 2016, 01:49:00 PM
April 04, 2016, 01:37:11 PM
BUT would you forget about all of that and go for a alternative technology with better features, once it is developed by all these banks? {Permissioned, private ledgers} They will obviously just copy the concept and
I don't even understand how this is a question. Wasn't the initial goal to take away the power of the banks? Why are you even here?I think you're misunderstanding what a full decentralization is.
Correct. Bitcoin's strength lies in its decentralization.If objectively superior features are developed elsewhere, they may be integrated into Bitcoin. In fact, many already have been.
Exactly, as long as these features are open-source as well.Well, they will not develop something trustless, but they can make it decentralized.
That's not decentralized. 
April 04, 2016, 01:25:34 PM
Well, they will not develop something trustless, but they can make it decentralized. { Implementing nodes for example on all computers within all their bank branches } The only difference will be,
that it will be permissioned and private and they will control the development and what changes will be pushed on these clients/nodes. There are many Alt coins with some better features than
Bitcoin, but they do not have the main advantage... which in my opinion is the network affect and also the backing of a strong and secure network {hashing power provided by miners} that they do
not have to pay for. { In Bitcoin, miners give their resources and they get rewarded by the protocol } So for the users, this network is virtually free... but banks will have to pay for that resources.
that it will be permissioned and private and they will control the development and what changes will be pushed on these clients/nodes. There are many Alt coins with some better features than
Bitcoin, but they do not have the main advantage... which in my opinion is the network affect and also the backing of a strong and secure network {hashing power provided by miners} that they do
not have to pay for. { In Bitcoin, miners give their resources and they get rewarded by the protocol } So for the users, this network is virtually free... but banks will have to pay for that resources.
I think you're misunderstanding what a full decentralization is. what you described are still centralized because it have a central authority (the banks). they can still change anything without consensus.
April 04, 2016, 01:13:54 PM
Well, you can create an altcoin so you can add your own features to Bitcoin, but don't expect it to be better than Bitcoin.
April 04, 2016, 01:04:57 PM
Bitcoin is an open sourced, consensus-based distributed system. If objectively superior features are developed elsewhere, they may be integrated into Bitcoin. In fact, many already have been.
This is where the problem is... consensus takes time in Bitcoin, and a lot of people with personal agendas are influencing the ultimate consensus. These private technologies will have a centralized
organization and they will adapt quickly to the needs of the centralized organization and developers will have little say in the matter. They will just be employed to make the changes forced down
on them by these organizations. Bitcoin can adopt many of these improved features, BUT the slow consensus system will hamper their progress in the future. The debate about the block size have
been going on for years... How much longer will a major change or a added feature take, to reach consensus?
April 04, 2016, 12:50:16 PM
Bitcoin is an open sourced, consensus-based distributed system. If objectively superior features are developed elsewhere, they may be integrated into Bitcoin. In fact, many already have been.
April 04, 2016, 12:44:37 PM
We know Bitcoin was the first and is the most trusted Crypto currency out there at the moment and that it is backed by a huge network with tons of hashing power and good security, BUT would you
forget about all of that and go for a alternative technology with better features, once it is developed by all these banks? {Permissioned, private ledgers} They will obviously just copy the concept and
add some bells n whistles and then improve on scalability.
The governments will obviously make things easier for them and make it more difficult for Bitcoin, and then Bitcoin will start to lose ground and things will change in their favor. How do we stop that
forget about all of that and go for a alternative technology with better features, once it is developed by all these banks? {Permissioned, private ledgers} They will obviously just copy the concept and
add some bells n whistles and then improve on scalability.
The governments will obviously make things easier for them and make it more difficult for Bitcoin, and then Bitcoin will start to lose ground and things will change in their favor. How do we stop that
what could the governments and banks create that have better features than what bitcoin already provided? no government would spend a penny to make anything that is trustless and decentralized.
Well, they will not develop something trustless, but they can make it decentralized. { Implementing nodes for example on all computers within all their bank branches } The only difference will be,
that it will be permissioned and private and they will control the development and what changes will be pushed on these clients/nodes. There are many Alt coins with some better features than
Bitcoin, but they do not have the main advantage... which in my opinion is the network affect and also the backing of a strong and secure network {hashing power provided by miners} that they do
not have to pay for. { In Bitcoin, miners give their resources and they get rewarded by the protocol } So for the users, this network is virtually free... but banks will have to pay for that resources.
April 04, 2016, 12:27:15 PM
We know Bitcoin was the first and is the most trusted Crypto currency out there at the moment and that it is backed by a huge network with tons of hashing power and good security, BUT would you
forget about all of that and go for a alternative technology with better features, once it is developed by all these banks? {Permissioned, private ledgers} They will obviously just copy the concept and
add some bells n whistles and then improve on scalability.
The governments will obviously make things easier for them and make it more difficult for Bitcoin, and then Bitcoin will start to lose ground and things will change in their favor. How do we stop that
forget about all of that and go for a alternative technology with better features, once it is developed by all these banks? {Permissioned, private ledgers} They will obviously just copy the concept and
add some bells n whistles and then improve on scalability.
The governments will obviously make things easier for them and make it more difficult for Bitcoin, and then Bitcoin will start to lose ground and things will change in their favor. How do we stop that
what could the governments and banks create that have better features than what bitcoin already provided? no government would spend a penny to make anything that is trustless and decentralized.
April 04, 2016, 12:20:44 PM
We know Bitcoin was the first and is the most trusted Crypto currency out there at the moment and that it is backed by a huge network with tons of hashing power and good security, BUT would you
forget about all of that and go for a alternative technology with better features, once it is developed by all these banks? {Permissioned, private ledgers} They will obviously just copy the concept and
add some bells n whistles and then improve on scalability.
The governments will obviously make things easier for them and make it more difficult for Bitcoin, and then Bitcoin will start to lose ground and things will change in their favor. How do we stop that
or turn that against them? {The only solution I can see, is for us to educate the public and to prove to them that Bitcoin is better}
What will you do? Turn to a permissioned ledger, because things will be easier or stay with Bitcoin out of principle or because you support financial freedom?
forget about all of that and go for a alternative technology with better features, once it is developed by all these banks? {Permissioned, private ledgers} They will obviously just copy the concept and
add some bells n whistles and then improve on scalability.
The governments will obviously make things easier for them and make it more difficult for Bitcoin, and then Bitcoin will start to lose ground and things will change in their favor. How do we stop that
or turn that against them? {The only solution I can see, is for us to educate the public and to prove to them that Bitcoin is better}
What will you do? Turn to a permissioned ledger, because things will be easier or stay with Bitcoin out of principle or because you support financial freedom?
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