Bitcoin Forum

I think that current leaders will fall once the new one appears.
Not tomorrow, but within the next years.

Here is my top3 features a new leader should have.
1. High transaction volume scale from millions to billions.
2. Low transaction fees.
3. Real assets behind it, so everybody know it can't fall under certain level or it will buy itself back and stop the fall.

What would be your top picks?

Transactions per second in the hundreds to thousands.

Blockchain Trim, which is already available via PascalCoin and their account numbers system.. a max blockchain size of 6GB is just about perfect.

Some sort of price stability would be nice, but not necessary as I view these more as investments at this point... any price stability will come from me simply holding USD on GDAX or Gemini until a better solution is provided besides Tether, which I don't trust.

Instant verification of transactions without the need to wait a half hour or more to prevent double spending.. according to Pascalcoin's whitepaper, they may also have addressed this issue... this will come with time.. in 2 years we shouldn't have to wait 30 minutes for funds to show up on poloniex, but we will because we'll still likely be using BTC as the gold standard, and as great as it is, it's outdated code.

Low fees, of course. Many coins have solved this.

Easy Xytabytes. It solves 51% attack, Its infinitely scalable and will like ETH have the ability for any modules to be built upon it using ANY programming language.

This is probably the only way to make a big ROI in this ICO crazy world.

there are a lot of these things around, and everyone thinks their coin is the one replacing bitcoin.
and you know what, i agree with what you said "it will happen in the future". but the problem currently is that as you can see from the previous 2 comments people don't want a "currency" they want "an investment" or in other words they want to make profit.
that is why nobody makes any of these with a currency in mind and that is why none of them has became the leading "currency" so far.

Thats insulting. I invest in projects I genuinely believe will be successful based on intrinsic innovation not on some ETH fleeting fashion that will pump and then disappear. Of course I can be wrong but usually I'm not wrong on the tech but on the intelligence of the masses to understand a technology is so innovative.

AND if I believe in a technology I also invest because I don't see them as exclusive. I have NEVER bought a single ETH even though I knew they would be a great investment as I see them as flawed and bank backed. I am far more principled than I'm sure the shit ETH dice ICOs you invest in.

So fuck you and your little incorrect and arrogant judgments.

Actually it's a very good point that a new leader that I thinks would surely come or evolve from one of the current projects should have good investment opportunity at it start.

But I think of this question more long-term like 10+ years.
And the real value in my mind is becoming a widely accepted currency.

The concept of virtual uncontrolled money is here to stay, but I am sure it won't be bitcoin in the future and not ethereum if they don't evolve fast enough.

Security of the network itself is a big issue.
Everybody talks about the ability to get 51% to make a fork, but there is one more thing.

It's very important that an attack that aims to stop all transactions in the network entirely for month cost at least 20% of the currency market cap.
We will see attacks from governments pretty soon and they will be perfectly fine to spend a couple of billions $$ for this.

1. I agree

2. No transaction fee is justified IMO. I don't pay someone to hand over a few dollar bills to a friend, if crypto requires fees then it's worse than fiat. Millions of computers form networks around these crypto tokens, that should be more than needed for any transaction processing on a P2P basis

3. No need for real assets IMO. Adoption and real world use, such as acceptance from a large number of real world merchants/vendors, would be enough as bitcoin proved

4. I'd add: no "I'll print myself a billion $' worth of the stuff just cuz" ICO type setup or the whole thing is exploitation by definition

5. A fixed quantity of tokens: one of the main attractions is the ability to escape from endless fiat devaluations

Let me know if you find this, I can't wait  ;)

The transaction fee must be there. Even if the network can handle billions of daily transactions it would be spammed and die without the transaction fees.
The other thing is that transaction fees can appear when the network reaches the 20% of it's max capacity.
The people providing infrastructure for the network must earn money. It can be through emission or transaction fees.
For wide adoption emission and no fees is better.

I don't find one right now, but I am planning to build one from scratch )

The thing is I don't think transactions fees applied to transfers from one wallet to another would be acceptable to anyone, not with a token used as currency and not in an environment unlike the mania we are witnessing now. I read a statement from Vitalik Buterin stating, I paraphrase, "it's going to be a wonderful world, you'll have to pay for everything you do" . I hope for his sake he was being cynical and mocking instead of hopelessly self-delusional.

I read your point about transaction spamming and don't have a reliable answer to that but I would expect that in a P2P context (reducing the need for infrastructure, billions of transactions daily would mean how many computers?) spammers would mostly hurt themselves (and for what purpose?). For token to fiat transactions and other peripheral services, providers would apply fees that should make spamming uneconomical (?)

When the mania subsides, the question many will ask is "why would I pay Buterin for something in his 'wonderful world'  that I already get for free with fiat in the real world". I don't think a currency that milks its users by charging for basic transactions could succeed. Sorry for being so negative.

I genuinely hope you succeed :)

good dev team that is not mia after day 1, no instamining of any kind, bullshit % to dev is crap i don't want that, low transaction fee coem to a cost miners need their revenue, and there must be a pow otherwise it's crap from the start, but out of these the most important is real usage and not just pump and dump on rigged poloniex lol

Ayers, what dev-team motivation would you find to be fair?

That's the hard question.
To really push the currency you need a A-class team and it costs.
It not only the code, it's pushing the currency to be widely accepted, evangelism, PR, conferences, regulating price drops and managing finances to grow that back the currency.

My thoughts that the devs motivation should be tied to the growth of the currency market cap to keep them motivated in the interest of all holders.
The currency grows - devs get some % from market cap, the currency falls - no bonuses for devs untill new groth is acheived.

I actually got an idea how to make 99.9% transactions free and keep transaction spam away that could ruin any network.
Very high fees when the network reaches it limits, so that anybody planning a transaction-spam attack know, that each minute network downtime would cost them a fortune.

Transaction spam attack is when you create lots of transactions and put on hold the transactions of all the other people.

* No pre-mine
* Super secure hashing
9 rounds of hashing from 6 hashing functions
(blake, bmw, groestl, jh, keccak, skein)
3 rounds apply a random hashing function
* CPU / GPU mining
* Quick block generation: 30 seconds
* 2048 QRK per block (halving every 60480 blocks ~ 3 weeks)
* Block reward will never drop below 1 QRK
* Total of 247 million QRK will be mined in ~ 6 months, after that ~ 1 million QRK p.a. (~ 0.5% p.a inflation)
* Difficulty re-targets every 20 blocks (maximum 10% up or 50% down)
* Bill Still endorsement

If they do, none of them will stay.Btc and eth pass.If Btc comes to these features,so big

It must make the payments secure and fast. Also, it should become more widespread, than BTC.
Besides, I think that its legality in most countries will be a plus

i think one surpass eth/btc must solve the problems eth/btc can't solve, and it will also need time to test, the new currency need a strong team and maybe some luck

If the Segwit2x is success in BTC then hardfork wont be needed and then the price & transaction problem will be solved and BTC price will soar rise in high , then no one will be asking for another BTC type coin in the market.

If you can achieve that you've hit home run I think :)

Yes your right , Because after segwit bitcoins will improve more and to think that bitcoin and Ethereum is totally abig currency which can never been replace on top.

Thanks for the replies.

I really think CPU / GPU mining has to be abandoned and replaced by procedures that has the value to the network growth and fast transactions.
It's not the calculations that guard the process it's the amount of money needed. If this money is invested to make the network more fast and secure and grow it - the chain will profit a lot.

i will say, transaction per second is very important while the transaction fees also contributes to market demand. i always look at the two on any coin i try to work around.

Hello TheLuckyBastard,

    A time machine.

Best Regards,
-Chicago

I think all wallets should allow for the option of making their transactions anonymous. Some people I've talked to aren't comfortable with their balances being visible on the web.

No currency can work as a currency with point #3. That is a feature that the new leading currency must not have.

Why not?
If coins are sold and the property from this sales belong to all coin-holders and so does the interest from property.
Investment decisions get approved or disapproved by voting.

It is impossible. People want crypto because of the freedom it provides. You cannot have freedom on the upward price but have it controlled on the downside. If there are hard assets behind something, it prevents the rise, but can't actually stop the fall. There have been no examples of any pegged assets that have ever worked, because it logically does not make sense. An exception is if you want the price entirely fixed, like tether or the gold-pegged crypto, but then the value is purely the value of the asset behind it, and it loses some of the benefits of crypto.

I think the main strategy to go on the top you must have a good team, good management, good technology,decenterlized currency like bitcoin,mine able  currency and the special things that to follow all sectors of development like at top value coins like btc/eth
The ways how to do work in all these sectors to upgrade continuously and get all attraction of investors and other peoples also for long term investors and long term investors and do attractive work and get market attraction to make work of purpose of the coin