Would Silver & Bitcoin be two good alternative currencies in the near future?

ShakyhandsBTCer

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Quote from: Yakamoto on July 12, 2014, 10:50:59 AM

Quote from: DavidHume on July 12, 2014, 04:37:38 AM

Realcoin have the potential to become payment currency in the US. Price stability is important to both merchant and consumer.

Yeah no.

Real coin will be shunned by most of the "Coin" community, seeing as it is a filthy way of riding off the crypto idea. As the the general populace... We must educate them. Now.

Price stability means nothing. It's because some companies want to take it and possibly hold it for bigger profits in the future, or they're taking the risk and just accepting Bitcoin for what it is.

Realcoin actually disgusts me. It's a scheme, and it's just like using a credit card or debit card at a location. We can defeat it by saying that it's just like your credit card but with more and longer complex steps. That would be enough to have people ever away from it.

And then they beg it to Bitcoin as well as the USD, if I read it correctly. So if USD thanks, "Oh nope! Our value is backed by Bitcoin!" (In which case, if realcoin does become popularised, would be great for the BTC price. We own the gold of the future!)

But I have serious doubts about realcoin... I wanna see the code, since there might be "unprecedented security flaws" and it might "just happens to be possible to find the IP of an address".

You can find the IP address of a specific address for pretty much all crypto coins, including bitcoin, it is just that it is very difficult to do so. Bitcoin and the larger altcoins are more difficult today because of the many types of wallets that do not act as a full node.

Realcoin will never be successful because it's network will never be able to be secured. Like bitcoin TX fees for realcoin will not be enough to give miners enough of an incentive to mine at first, however block subsidies will obviously not be given as the coins are backed by dollars and block subsidies would mean that someone would need to pay dollars to secure the blockchain

Dalmar

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Quote from: Yakamoto on July 12, 2014, 11:05:25 AM

So let's say a coin is backed by a government authority, how would they distribute it? Would people mine it, PoS it, or would the government have a premine equal to the GDP and them have people come in and exchange it at a 1:1 rate?

It would be rather amusing to see what would happen if the governing authority allowed for people to mine it... It would cause massive inflation for sure!

I guess we'll just have to watch it play out, there isn't a lot of other things we can do.

Governments would only be interested in the efficiency and speed aspects of cryptos. They don't care about those deflationary gold-mimicking aspects.

Their control over the people and income is jeopardized if they did it that way. So, if they ever release a crypto it will be a centralized inflationary one not meant to be HODLed but used for transactions.

Yakamoto

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Quote from: Dalmar on July 12, 2014, 10:59:04 AM

Quote from: Yakamoto on July 12, 2014, 10:50:59 AM

Yeah no.

Real coin will be shunned by most of the "Coin" community, seeing as it is a filthy way of riding off the crypto idea. As the the general populace... We must educate them. Now.

Price stability means nothing. It's because some companies want to take it and possibly hold it for bigger profits in the future, or they're taking the risk and just accepting Bitcoin for what it is.

Realcoin actually disgusts me. It's a scheme, and it's just like using a credit card or debit card at a location. We can defeat it by saying that it's just like your credit card but with more and longer complex steps. That would be enough to have people ever away from it.

And then they beg it to Bitcoin as well as the USD, if I read it correctly. So if USD thanks, "Oh nope! Our value is backed by Bitcoin!" (In which case, if realcoin does become popularised, would be great for the BTC price. We own the gold of the future!)

But I have serious doubts about realcoin... I wanna see the code, since there might be "unprecedented security flaws" and it might "just happens to be possible to find the IP of an address".

Realcoin's value has nothing to do with bitcoin. It is just a private crypto version of the USD. So, 1 USD = 1 RC.

I had read somewhere that they had pegged it to Borge the USD and BTC, but I could very well be wrong about that.

I also agree with your points, and I too think t will fail in the longer term.

So let's say a coin is backed by a government authority, how would they distribute it? Would people mine it, PoS it, or would the government have a premine equal to the GDP and them have people come in and exchange it at a 1:1 rate?

It would be rather amusing to see what would happen if the governing authority allowed for people to mine it... It would cause massive inflation for sure!

I guess we'll just have to watch it play out, there isn't a lot of other things we can do.

Dalmar

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Quote from: Yakamoto on July 12, 2014, 10:50:59 AM

Yeah no.

Real coin will be shunned by most of the "Coin" community, seeing as it is a filthy way of riding off the crypto idea. As the the general populace... We must educate them. Now.

Price stability means nothing. It's because some companies want to take it and possibly hold it for bigger profits in the future, or they're taking the risk and just accepting Bitcoin for what it is.

Realcoin actually disgusts me. It's a scheme, and it's just like using a credit card or debit card at a location. We can defeat it by saying that it's just like your credit card but with more and longer complex steps. That would be enough to have people ever away from it.

And then they beg it to Bitcoin as well as the USD, if I read it correctly. So if USD thanks, "Oh nope! Our value is backed by Bitcoin!" (In which case, if realcoin does become popularised, would be great for the BTC price. We own the gold of the future!)

But I have serious doubts about realcoin... I wanna see the code, since there might be "unprecedented security flaws" and it might "just happens to be possible to find the IP of an address".

Realcoin's value has nothing to do with bitcoin. It is just a private crypto version of the USD. So, 1 USD = 1 RC.

It will not rival bitcoin for store of wealth qualities, but it could significantly impact bitcoin's market for a quick medium of exchange or the remittances market.

However, the counterparty risk with this coin is very high. I doubt it will succeed in the long term. Something similar to realcoin but backed by a very reputable company or even a government is a far greater danger to bitcoin.. Not this amateur realcoin stuff.

Yakamoto

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Quote from: DavidHume on July 12, 2014, 04:37:38 AM

Realcoin have the potential to become payment currency in the US. Price stability is important to both merchant and consumer.

Yeah no.

Real coin will be shunned by most of the "Coin" community, seeing as it is a filthy way of riding off the crypto idea. As the the general populace... We must educate them. Now.

Price stability means nothing. It's because some companies want to take it and possibly hold it for bigger profits in the future, or they're taking the risk and just accepting Bitcoin for what it is.

Realcoin actually disgusts me. It's a scheme, and it's just like using a credit card or debit card at a location. We can defeat it by saying that it's just like your credit card but with more and longer complex steps. That would be enough to have people ever away from it.

And then they beg it to Bitcoin as well as the USD, if I read it correctly. So if USD thanks, "Oh nope! Our value is backed by Bitcoin!" (In which case, if realcoin does become popularised, would be great for the BTC price. We own the gold of the future!)

But I have serious doubts about realcoin... I wanna see the code, since there might be "unprecedented security flaws" and it might "just happens to be possible to find the IP of an address".

DavidHume

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Realcoin have the potential to become payment currency in the US. Price stability is important to both merchant and consumer.

dothebeats

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Cashback 15%

Bitcoin seems to be a great alternative for fiat currency. As to silver, I don't think it will be adopted as a currency by many other nations all over the world. In the digital age where money transferring is made possible by the help of the Internet, I don't think people would still use fiat because of the HIGH FEES. But in the meantime while not all of the countries in the world aren't that developed, fiat would remain dominant against bitcoin and any other alternative currencies out there that might be a good candidate to change the traditional currency.

Yakamoto

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Quote from: Skele on July 11, 2014, 06:28:58 PM

Thanks to this two and Bitcoin working together, the people of this forum will plump wallets soon, after that, those currencies will be betrayed and

Bitcoin will rise its glory...

And those with the plump wallets will have plump everything!

It's entertaining, really. I do expect the value of Bitcoin to skyrocket, as with there being a mere 21 million coins and a decentralised value in an uncertain economy, I can definitely see BTC going up, quite highly in fact, and those who started now will become part of the wealthy elite via this.

All we need is to spread the word, and then people will start buying it... Slowly but surely, they will buy it...

Skele

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Thanks to this two and Bitcoin working together, the people of this forum will plump wallets soon, after that, those currencies will be betrayed and

Bitcoin will rise its glory...

Finchy

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Silver and Gold aren't really great as currencies, that's where bitcoin comes in, but both silver and gold have other uses and intrinisc worth.

Gianluca95

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Reputation first.

I see that in the next future only Bitcoin is a good alternative currencies.

I don't see Silver because I consider it only a materiale, not other Angry

CryptInvest

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Silver can be seen as an investment to diversify

Yakamoto

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I can't make any accurate guesses.

Anything can happen in the world, but BTC and Silver wouldn't be bad investments, in my opinion.

Silver does technically have a greater value than gold, in manufacturing, but silver does oxidize and there is a larger supply.

Land won't be bad to own either, but there's a housing/land bubble so it's not worth purchasing right now. You can use it to rent to other people, which can also generate some income. But make sure you will have known ownership of it, cause otherwise it can be a pain.

FutureMoneyTrends

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Quote from: SunBin on July 11, 2014, 02:45:09 PM

Gold and RMB would be my guess.

Okay, I made a special poll option just for your point:
Other stuff...Gold, oil, land, multiple country currencies

SunBin

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Gold and RMB would be my guess.

FutureMoneyTrends

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What do you think about silver as a currency, a competitor to bitcoin for future transactions as the trust for governments and fiat plummets?

We just realized a new mini-documentary on how Mexico could soon monetize silver:

Topic: Would Silver & Bitcoin be two good alternative currencies in the near future? (Read 1130 times)