Bitcoin Forum

I was just reading that currently the Bitcoin network isn't even seeing 1 transaction per second and it is only set up to handle 7 per second.  That's a pretty easy fix but that's not the problem.

Visa is handling up to 10,000 transactions per second [at peak time], so one can imagine Bitcoin (or whatever global digital currency is adopted), once it goes mainstream, will easily do the same amount or more.

Just think about how massive the blockchain has gotten in just the last 6 months and we have, at most, 1 million total global users and not even 1 transaction per second yet.

Now imagine hundreds of millions of users and a mind numbing 10,000-fold jump in transactions per second.  

What would that do to the blockchain?  It would inflate it to the point that you'd need a massive budget just for the storage alone.

So in the next few years who's gonna be able to afford to run the entire blockchain?  That's right, large corporations, banks and governments - who already have massive servers and data centers in place.

So in the end, it will be these entities which will dictate the transaction fees (even though there will be little to no added cost on their part) and not the little miner like everyone is [still] fantasizing.  Say hello to eye gouging fees [again] only this time you can't take your money out and you can't hide it either.  Ha!

Yet again, just one more ugly hole in the decentralized, anti-bank and anti-government theory [which never made sense to me in the first place] and one more huge benefit of crypto currencies for banks, multinational corporations and governments.

Add this sweet news to the global asset tracking and registry system Crypto Money is designed for.

lol, this whole thing was designed and built, from the very beginning, from the ground up - specifically for the benefit of banks, large corporations and governments.

Crypto Money = The wet dream of the Status Quo.  

Bitcoin can't be a currency. It's a commodity, a storage of value.

Next generation of cryptocurrency are coming (Ripple, Emunie, Nxt, Microcash). We will see which one will takeover

Oh congratulations on finally getting to the blockchain size / transaction rates stuff that was argued to death way back when.

Maybe if you can resist posting and just read you could research all that over in the technical section.

-MarkM-

Again Vlad I totally see where you are coming from ...

But it just wont work like that , once transfered there will be a grievous loss of confidence , it wont matter how much BTC is on CNN or what ETF it has , it will stop serving its primary purpose thus its " reason for existence " will shift in the dynamic information environment.

And something will replace it .

 the only way to stop this general effect is to  lobotomize humans .

Flouride and its friends have been effective , but not effective enough as the ratios have shifted, humans want to learn , its unavoidable .

https://bitcointalk.org/index.php?topic=330886.0

^^^^^^^^^^^^^^^^

VLAD

Lol.  A commodity is an asset.

Bitcoin, by definition is a fiat, and therefore a currency.

This is not up for debate unless you also wanna debate that water isn't really wet.

And by the way, no fiat has ever been a store of value, they have all gone to zero.

So please stop the parroting, Bitcoin and any other digital currency they choose to globalize will eventually go to zero and therefore it is not a store of value.

Bitcoin planned to be a currency, but it is not, as its price and market behavior acts more like a commodity.. wine is not water even if it was planned and named as water from the first, even if vlad2vlad still insists on calling it water again and again ;)  
BTC is behaving more like gold than dollar, very obvious it is!
The only way to avoid those critical scenarios and save btc's ass is by developing adequate efficient offchain transaction models and implement them market-wise, but humans learn slowly experiencing tons of mistakes and failures before getting to the right point. There might come some new cryptos though, that eliminate those concerns, and serve the initial purpose of being a decentralized currency much better, future will let us know!

Actually firing up a couple of hundred terabytes storage and a few dozen servers across the world isn't something what would be impossible even for a small company today. Hiring a lot of support guys around the world also a relative easy task, and there are plenty of places where you can find skilled support people for peanuts.

Fiat, by definition, is any money declared by a government to be legal tender.

What government uses bitcoin as their currency, praytell?

Let me help you.

From Merriam Webster's Dictionary:  Fiat Money - money (as paper currency) not convertible into coin or specie of equivalent value.


One flaw here.  Fiat is not money.  One of the 6 characteristics of money is store of value and since all fiat (100%) has gone to zero then none have been money, they have all been simply, currencies.

The dollar is not money.  Bitcoin is not and will never be money, unless it's convertible into gold or some other form of asset.  These are fiats and fiats are not money, but merely currencies.

And BTW, the US courts and Germany have already declared Bitcoin money.  So there's the government approval you're looking for, although it's not necessary as gold and silver have an international currency symbol (XAU & XAG) even though no government uses them as an official form of legal tender the way you imply.

And here, for the noobs, the 6 [all absolutely necessary] characteristics of money.  If it doesn't have all 6 then the best it can ever be is a currency which is what the dollar has been as well as all the fiats of the world up until today.



There are six characteristics of money:  These include: durability, portability, divisibility, acceptability, fungible and store of value.

You bring those definitions and read them, like they are from bible and therefore signed by god!?
There is a historical experience and attitude of what we name as modern money, currency and whatsoever that looks too tangible to us now.
You bring Webster's definition,  ;D, even famous economists still have disagreements about so many of these commonly used, already placed in dictionaries terms that you bring from the ironic bible!
Our experience of US dollar which has been the dominant global currency for more than 60 years give us a good approximate picture of what a currency looks like. The main problem of USD is not its general properties as a currency but its centralization, which has been the main reason for creation of bitcoin.. but BTC has been behaving more like gold than dollar so far.
Who's the self confident noob, I am not going to argue ;)

use Multibit and let someone else worry about it lol

pro tip: it's the recommend download on the official bitcoin page ;)

hmm maybe they thought of this already ? lol

Next topic: Most choosey puppies choose Puppy Chow lol

edit:
sorry forgot to add my expert market analysis expertise (i'll copy and paste something out of the Speculation sub forum later)

Tulips once behaved like money, store of value and a valuable commodity, does that make tulips money or a rare valuable commodity today?  

The definition of money I gave you wasn't just from Websters, it's the history of money since the Greek times and store of value is one of the must haves and no fiat has ever had it and therefore Bitcoin will never be a store of value since it too is a fiat.

In a few years you'll come to realize the gravity of the error, you and the majority of the crypto lovers, are making.

https://bitcointalk.org/index.php?topic=172664.0

..."The crypto model adopted by bitcoin is inherently 'unfair' and 'flawed' imho, just like in capitalism where the already rich and powerful become increasingly richer and more powerful at the expense of others. We are already seeing this with bitcoin. Soon, (if not already) only established and large corporations, big banks, already very wealthy individuals, governments and nation states, with access to super computers will be the only people able to generate any bitcoins. This 'free market' will be totally monopolized, this has already started to happen." - Myself ...

This entire post makes for an uncomfortable read, I wrote it around the time of the bubble crash not long after returning to this forum. I didn't even include the effects of protocol failure, I just described the entire model over time. At that time I don't think many really appreciated what I actually ment by a very long time.

There's a youtube video where Gavin describes the certainty of centralization and that us 'home' bitcoin miners and the community at large are not really going to like it very much when it happens. If bitcoin does gain mass adoption with said transaction volume then its really a given - very similar to what Vlad2Vlad is saying.

financialcryptography.com "Where the crypto rubber meets the Road of Finance..." Its fun to be part of the experiment though, right ?  :'(

Finally, a man who thinks for himself.  I wasn't around in April but I'm glad to see you had the vision to see the flaws way back then.  99% can't even see it now which is why crypto money will succeed and it will enslave the masses.

Basically, people are stupid sheep and I'm starting to agree with the elite that we need to be prodded and herded like dumb animals.

BTW, I'd hate to see a smart guy miss the next Bitcoin 2.0.

Brother, buy yourself just $50 of ixCoin as soon as you can but don't chase it.  You should get at least 5,000 ixCoin for that.

If I, right, and ixCoin breaks out next year [alongside or in place of Bitcoin] then you'll make a million bucks, or more, off just that $50.

I don't wanna put up any walls of texts here so either read up on my alleged crazy theories or just trust me since it's only $50.

Bitcoin is either flawed or it's a head fake for the Russians and Chinese, but either way, Bitcoin will not be the global currency everyone thinks it will be and will most likely die [unexpectedly] next year.

I know how impossible this seems right now with Bitcoin crashing through $400 on its way to $500, with all the support of the entire planet and massive momentum behind it, but that's what I see and it makes so much sense.

Godspeed!

I think its going to run longer than you expect Vlad2Vlad. To many people are now heavily invested in BTC to watch it fail. It will be 'centralized', before the possibility of total collapse.

Yes. I've been around Bitcoin pretty much since the outset, although I did miss a fair bit in the middle. Unlucky for some.

ixcoin as in http://www.ixcoin.org/ - Really ?

I already merge mine a few of those. Going to read the official thread. Please point me to one of your posts regarding your theories on ixcoin.

the future is an altcoin infinitely interchangeable with and fully backed by a vegetable like a pumpkin... mark it!

marked ;)

ps: I'm selling Tulips now and also "shares" in tulips also

Lol.

What about futures and options or maybe options on futures for tulips?

I do love me some leverage. 

And what's more leverage than a derivative on a derivative of a vegetable which is really a flower which everyone already knows has been played out of the "get rich quick market"?

I've brought this up a few times on here, even in the main BTC forum.....my thread got closed before I even got started.

Everyone just says "buy a bigger HD" and doesn't seem to get the point or understand the real problems behind processing at Visa type scales.

Point is, turn your BitCoin client off for a week, then load it up, it'll take you at least 10 mins to sync even on the fastest connection with a beasty PC....

BitCoin is averaging what?  60k transactions a DAY, a week is 420k transactions and it takes 10mins to sync, VISA does as you rightly say 100k a second at peak.....HELLO!??!??!?

I gave up trying to point out the issues when everyone is obviously a lot smarter and has much more experience with high volume, low latency systems than me and my lowly resume, even though I worked on these types of financial systems for 4 years.

EDIT: and before anyone states "just use a web wallet service"....isn't BitCoin supposed to be decentralized, and by using a limited number of available web wallet services, makes BitCoin centralized?  

Plus, VISA ploughs millions into infrastructure, so some startup with a few 100k is going to put in place that same infrastructure that can process the same volume?  Come on!

Lol, it's not you, it's them.

People here, in general, are clueless and they tend to drink the Roger Ver Koolaid and they just repeat anything they hear in the media about Bitcoin.  The positive things that is, which are starting to accelerate just as I also said it would.  In the next few months the media frenzy will begin to get frothy.

I just wish I could figure out what will cause Bitcoin to suddenly die or what will give rise to another really big crypto, as big as Bitcoin or close to it.

Cause I can think of geo-political reasons, competitive reasons from banks, corporations and the govt or maybe even an unexpected design flaw in Bitcoin, but in such a case, ixCoin would also have the same flaw since it's a near exact clone.

Hard to say.

Well there are 3 ways to success

1.  Be First
2.  Be Better
3.  Bullshit

Bitcoin was first, so it will quite rightly be a success, whatever yardstick you use is up to you, but, it has major holes in it and no one around here seems willing to admit that.   

Furthermore, NONE of the alt's that use the Satoshi codebase will de-thrown it, I don't care what fancy POW or POS you use, or novelty features you add, because at the foundation, you have the exact same holes in the system as BitCoin.  You might find success for a while, but any ALT will always be #2 to BitCoin, and eventually it will suffer the same problems and die.

IMO (and I may sound biased) there are 2 contenders and 2 only, Ripple is one, and eMunie is the other.  Yes yes I know that eMunie is my creation, but there is NOTHING out there in development that comes even close with regard to feature set and scalability.  Both of these have been written from the ground up, use different designs and take into account some of these gaping holes in BTC/ALT

I'm not 100% sure about Ripple, it has enough design positives for it to be a contender, but there is a lot of stigma around it still....it could surprise us though.

So, back to my list

1.  Be First - BitCoin
2.  Be Better - Ripple/eMunie/something else
3.  Bullshit - Alt's, or more specifially, Satoshi based alt's

Why people bother themsleves to start answering a thread which has been started by a self-confident idiot!
Just look at his (vlad2vlad) posts: he believes he knows pretty much above the 99% of guys here, he calls people sheep, he thinks he has the future already 100% predicted by him at hand, and in particular argues the concerns about what a currency is by referring to the practices of ancient greeks lol, while neglecting the most obvious most important example of global dollar :D
Is it really wise to even notice what a 200 hours 3000 posts self-confident mouth says?!
Look at his previous posts in other threads, just to see what I mean! This guy needs to be taken serious, to be known genius, his wounded complexes needs healing ;)

lol! Well doesn't matter if he's an idiot or not, or what his posts before are, on this occasion is he right to have concerns.

No one has a solution for this problem, not a real one, not even the "core devs"...."increase the blocksize"

http://cdn.meme.li/i/pl1ml.jpg

So you don't agree that people in general, the masses, are sheep?

In that case, I'm sad to tell you, that you're one of them.

Baha baha baha baha. 

There is one very important benefit which ixCoin has over Bitcoin when you take into consideration mass adoption and the financial markets and that is:  Liquidity.

That may not seem like much but if Bitcoin is great then an identical twin with more liquidity would be considered greatest.  And that's exactly what ixCoin is.  

And I'm not sure how to quantify or qualify an extra 10 million coins and some 2 decades in saved mining time but that kind of added liquidity, to have it now instead of in 2033, would be a huge bonus if you look at Bitcoin from a Bankers' or Wallstreet's perspective.  

It's actually such a huge plus that it could prove to be absolutely necessary in which case they'll find a way or an excuse to kill Bitcoin and you'll know it was an excuse if they all get behind ixCoin - a coin with near zero following which should have died long ago.

I'm not well versed on ixCoin or its architecture, don't get much time out of eMunie to read up much more than a quick skim.

So is it a Satoshi based client that uses SHA256 but with a much earlier max unit time?

If so then I kinda agree it would be "better", but wouldn't it still suffer the same bloated blockchain issues and overall problems with keeping up at high volume?

At best it would be a "better" stepping stone to something else, but it still has a lot of the root problems if that is the case, so aside from that, there is no incentive for BTC holders to change ship :(

Bitcoin is perfectly divisible, another 10M or 200 quadrillion coins wouldn't improve liquidity.  Liquidity is the able to exchange with minimal friction.  Liquidity is deeper markets which damp volatility.  Liquidity is there being a buyer when you want to sell or a seller when you want to buy.   All that will come from a larger valuation to the money supply, better infrastructure, and deeper exchanges with more transparency and security.

You know you are the archetype of what!?
Who is the sheep doesn't need any explanation here ;)
I am sure you can, by the end of this month, reach 5000 posts for sure!
Good Luck ;)

Yup liquidity isn't the issue so ixCoin doesn't solve anything there, but expending less energy on POW is surely "better" by anyone's logic whether that is via improved efficiency of hardware, or a shorter duration.

I mean, does anyone SERIOUSLY believe that we will still be using the original BitCoin in 2040?

EDIT:  Just read up quickly on ixCoin, it doesn't offer anything more than potentially reduced energy consumption over the long term.  Once you hit maturity, a lot of the miners would move off it, as the incentive to "mine" it is much less, the ones that stay eat up the fee's and overall power use will be less.  I suppose, it could make a good window into the future of what could possibly happen when maturity is hit with BitCoin.....if we are still using it of course.

Thanks for your input on ixCoin.

From a valuation point of view, do you see anything about ixCoin that stands out?  In the 6 months I have been here it has struck me as very odd to see ixCoin track Bitcoin nearly perfectly.  It's positively correlated to Bitcoin which is not the case with every other alt coin.

But why?  The inflation rate is twice as high as Bitcoin so ixCoin should be constantly dropping in value relative to Bitcoin.  And why are all the other alt coins negatively correlated and ixCoin is positively correlated?  IxCoin even went down with Bitcoin some 5 months ago when Bitcoin went down to $68 from $120. 

I wasn't awake yet when Bitcoin went to $266 and back to $50 and back to $120 so I don't know if ixCoin was tracking Bitcoin during those moves.

But there is something odd about ixCoin.  If you research it you will keep finding things that don't add up.

5,000 posts?  That's weak sauce, son.

I'm aiming for the big boy's post count, Death and Taxes, and I also want the phoney coins under my name to end in a nice tinge of piss-yellow(piss-yellow) which means I desperately need to make me some Bitcoins with which to bribe this alleged anti status quo establishment who will then reciprocate my actions with a nice yellowish emblem to set me apart from the normal sheep.

And luck ain't got nothing to do with it, son.

This is simply how I do.

And, son, nobody do what I do the way I do.

D&T, brother, this wouldn't be a debate without you here, to piss all over my theories.

Welcome!


You got most of that right but not quite.


"Liquidity is deeper markets which damp volatility.  Liquidity is there being a buyer when you want to sell or a seller when you want to buy (correct, and/or a market maker but that goes with a deeper exchanges and better infrastructure which you mention).   All that will come from a larger valuation to the money supply, better infrastructure, and deeper exchanges with more transparency and security."

The larger valuation is not correct.  Your thinking is linear and logical but give it some thought.  What you meant to say was a larger money supply which is similar to valuation as a larger money supply tends to lead to a larger valuation.

Let me explain.

A larger money supply means more actual Bitcoins or ixCoins or dollars.  This absolutely does increase liquidity.

But a larger valuation, the way you stated it implies an increase in value of the underlying fiat which does not necessarily lead to more liquidity.  It could lead to higher demand which could lead to higher acceptability and thus higher rate of transactions but this higher valuation will also lead to more sellers as many will be risk averse or will simply want to book profits.  This is exactly where Bitcoin is today.

So do you think, caeteris paribus, that if Bitcoin goes to $10,000, all of a sudden the swings in the Bitcoin price will not be so bad and volatile so all of a sudden a larger Bitcoin valuation means more liquidity?

Absolutely not.  On the contrary, more buyers will come in, so popularity and transaction rate will increase, but an equal amount of sellers will also increase on the other side so the liquidity has not increased at all.

It's just like saying:  hey, I have 2 Ferrari GTO's and they're the only ones on the planet.  If I put them on sale for $1 there will be horrible liquidity but if I put them on sale for $1,000,000 the liquidity will improve.  See, valuation does nothing for liquidity, it only affects demand, acceptability, awareness, etc.

And the divisible argument doesn't hold water either for liquidity.  The 8 decimal fractional characteristic of Bitcoin is nice for spending purposes but not for liquidity purposes.

For this imagine having $100 for auction.  Would the dynamics of that $100 change on the market as far as selling it, buyers and sellers go regardless if you offered it in $1 bills, $10 bills, or 1,000 pennies?

No, because in the end you're still only selling $100 which is a very finite amount. Your supply will not satisfy the demand even if you break up the $100 into a billion pieces because at the end of the day you're still selling only $100 dollars and people are wanting dollars and few will want 1 penny.

And I realize that this is where your larger valuation theory comes from but watch Bitcoin at $400, it's no more liquid than it was at $100 because buying begets buying and the higher valuation brings in more and more buyers and richer buyers and soon the greed and herd mentality kicks in and along with other market dynamics so nothing will increase liquidity other than first and foremost:  more of that particular product and secondly, the other factors you mentioned like more efficient and deeper exchanges.

So absolutely, ixCoin offers something which is very much needed but I don't know if a double amount of coins and a savings of 18 years and that amount of energy is an amount which will make a big enough difference with the given massive demand and poor current market exchanges and efficiencies.

It's almost like saying you'll improve the market liquidity for those 2 Ferrari GTO's by adding 2 more.  That is the absolute best way to improve liquidity of any asset or fiat but I'm not sure if another 10 million coins next year would be enough to make such a massive switch to a different coin.

What about Peercoin? It has a fixed .01 transaction fee specifically designed to lower transaction spam.

This is not a problem, because when this becomes a real problem, Bitcoin will just be replaced by a better cryptocurrency, I hope with proof of stake. It will be forever remembered as "the first used cryptocurrency" though.

In a more pessimistic vision, bitcoin will be replaced with a similarly ill-designed coin, but younger. We will then have a new dominant coin every x years.

PeerCoin?

Oh, you mean PeePeeCoin (PPcoin)?

Need I say more?


Techies often have zero imagination which is why the Woz was saved by the Jobs.

It is inefficient and highly unlikely to have a new digital fiat currency replaced every few years.  There is a lot of planning, funding, supply and logistics, etc., which goes behind creating, backing, maintaining and globalizing a new currency.

No, they will choose one digital currency [and in my mind for whatever reason, there is a near ZERO chance that it will be Bitcoin] make the necessary adjustments, like get rid of the silly semi anonymous accounts and the even more silly 21 million limit and then force it on the rest of the public which have not get bowed down and worshipped it and dilute and inflate that new digital fiat for the next 40-100 years just all the fiats before it until it is worthless.  

Exactly like all the fiats before it and by then the old fools [who ate all the lies and begged for more, and fell into the biggest financial trap of their lives will all be dead and new sheep will be born and they'll eat the same exact lie and give up their freedom for a new shitty fiat] just like the dollar was a wonderful and new fiat back in 1934 and 99% of today's idiots have no clue what happened in 1934-1935 which is why it's guaranteed to happen again right now, in ~2015.

If anything, we now have the stupidest [collective] people that this planet has ever seen, all herded together at the same time for the biggest sheep slaughter the world has ever seen and they're gonna beg for this new wonderful fiat, nay, store of value, on their knees, which will make everyone rich.  Bhahhahaaaaa.

Welcome to history and economics 101.  

I see. For some reason I thought you might give a reasonable, intelligent answer instead of act like a douche.

Why you lose so much time and energy creating a non-existent, purely theoretical conflict and arguing about it?

Theoretical?


The blockchain is not quickly [and FACTUALLY] growing out of reach of the large majority of individuals and miners, the very same people this decentralized coin was supposedly created for?

Baha baha baha baha

Exactly.

Yes - to me you seem to be obsessed with theoretical concept of costs of exchange going up and big banks/govts overtaking bitcoin. You also argue about definitions bringing up Webster dictionary etc. What is the practical objective of your speculation? Maybe use your creative energies and intelligence to come up with a solution to a practical problem. Like for example ending 3rd world hunger by growing genetically modified rise of the size of a balloon. Or changing your avatar.

I've tried to change my avatar for 2 months now and I can't.  They won't let me.  I even wrote an admin and nothing.

I know how to do it csuse I've changed it 7 times in 4 months prior but now all of a sudden I can't change it to even a crappy brad Pitt pic.

As for my theories, they're all based on some facts.  You can dimiss the theories but not the facts.

Friendly advice:  buy some ixCoins and forget you own them.  Don't sell at $.25, or $.75 or even $7.50.  Wait, cause if ixCoin goes to 25 cents then I was right which will mean it will go to $100 and higher.

Put $10 of you think I'm totally crazy, what have you go to lose?

I don't think we have more than a few months before something major, something huge and unexpected by anyone will happens and the probability is high Bitcoin will get killed and replaced by something else and I think that will be ixCoin.

Good luck!

Tulips have too long of a shelf life and are an inherently inferior monetary plant.  The beauty of a monetary vegetable such as a pumpkin beyond pumpkin pie and jack-o-lanterns is that the shelf life is limited to a few months before they start rotting or get smashed.  A pumpkin coin could be a deflationary coin like BTC with an incentive to spend it as it would rot eventually.  A "hot potato" coin might work as well. 

Imagine the glee one day of finding a pumpkin coin in the punkin patch.

Not sure why you post on a cryptocurrency forum Vlad

Hmmmm, maybe because the theories I have come up with revolve around and have much to do with Bitcoin and digital money?

Crazy idea but it's like right there, I even even put it in bold letters for the "slow children at play".

Hahahaaaa.  Shit man, that's funny.

Don't give me any ideas, I've already launched 2 ShitCoins and there's more I wanna launch but it's too hard to get a hold of Bitcoins.

Thanks for an advise. Where do you exchange them and what kind of wallet are you using mate?

You can buy ixCoin on just about any exchange, including Cryptsy.

I use cold wallets since the ixCoin wallet doesn't have encryption.  Odd but that's the way it is for now.

So just an excuse to plug ixcoin, then?  ::)

Excuse?

No.  Facts and speculation.

Nobody is forcing you to agree or buy ixCoin.

Vlad, Ive been considering your exact sentiments here for some time.  IMO there is a big chance that some vulnerability in BTC will eventually be implemented and the markets will rush to some other altcoin.  Ive been doing lots of reading into altcoins to invest in in that event.  ixcoin hadnt entered my mind at all.  Can you go into more detail on why you think thats the one?  It cant be the liquidity thing - also my concern is how closely based ixcoin is to BTC.

By the time that this happens the HDDs will reach double digits TB's, where is the issue even if we just roll with this model?
Most likely something new will be implemented such as mini blockchain, and voile.

There's too much to write, just read through my prior posts.

But basically, it is the very similarity to Bitcoin that will be the biggest advantage.  

ixCoin is literally Bitcoin with more liquidity.  More liquidity is always a plus.  There's also no stigma about drug dealing and money laundering.

Another huge plus is the fact there's no dev and no foundation so banks and govts more easily control the open source to their needs.

People are in love with Bitcoin so the best thing will be another Bitcoin-like coin.  And ixCoin fits rhe mold better than any other coin, by far. Even the name of the dev was thought out ahead of time, an anagram of Satoshi.  

So in a way it looks almost planned out - either way, once the masses realize it then ixCoin will become the next big thing and if the masses don't get it then bankers, venture capitalists and wallstreet will see what an easy sell ixCoin will be.  

Then there's billions to made in an ETF so if Bitcoin gets the ETF then what better coin to improve your odds at getting your own license than an older coin which is identical to Bitcoin and has more liquidity.  They cannot say yes to Bitcoin and no to ixCoin while they can site various reasons to not give a license to other alt coins, such as they have died in the past, or they're too new and unproven, Etc.

Thanks Vlad

wait wat?  what is so groundbreaking about incakoin that would make it see ETF before bitcoin?

ha ha Vlad in other words we all knew this for a long time - but did you ever think that on the BITCOINTALK.org forum most people would be hold onto BITCOIN , and thus probably were not too overly forthcoming in  saying so - but this centralization effect has really been done to death -

but you are adding a "government" and "bank" conspiracy to it , well as i said , even if you were right , you will be wrong because :

1. As i stated it won't work the way you think .

2. its not as fully traceable as you think.

I nearly agree with this -

people like to stick to what they inherently believe and have confidence in - and at the moment that is some sort of "Block-chain" and it has to be decentralized -

or to be clearer a "Decentralized Ledger" - that is also open source -

so with that in mind let me lay down something that you will be able to come back and look at later :


People even if subconsciously will have faith and confidence only if a Currency meets these minimum requirements : 

(no particular order)

1. A Decentralized Ledger .
2. Open source (both client and miners)
3. 1 : 1 ratio of Decentralized Ledger  - Sorry Bitshares , Sorry Ripple -

then after that :

A - Centralization and community effect
B - type of distribution method and mining principals


I am able to sell a currency like to Quark (despite its strange name ) to outsiders of Cryptocurrency and i can do it with confidence because it ticks all the boxes - probably better than most of any other currency .

in it has had this special distribution method where by  any one entity can have a chance at getting Quark.

it has has a rapid distribution which has meant that no one entity can control a significant % share -

its literally impossible at this point for that to happen .