Bitcoin Forum

2 or three currencies will dominate before people start fully accepting crypto

I don't get the thread? What do you mean?

Nah, dude.  Once you go crypto, you never go back!

that's not what I mean. I mean bitcoins too much of a beast that can't be handled for much longer. The bigger they are, they harder they fall. A new alt coin will be it's successor. and then that will grow like a cancer, then another one will take it's place. Until the general population gives way for crypto to be stabalized

Oh, yeah.  That's exactly how network effects work.  The network grows so big that the heart can't pump the blood to the brain anymore....

See network effect (http://en.wikipedia.org/wiki/Network_effect).

Maybe, however a lot of people are trusting btc so it will continue to grow.

Indeed. Everyone screams "network effect!" without realizing that Ripple has already to a large extent solved the transparent exchange UX problem, and that holding even thousands of currencies in the future won't be such a big deal. 100% in agreement that Bitcoin is not the final frontier by any stretch.

Litecoin will dominate too !

It doesn't follow that because you have frictionless transfer between two assets, the two assets do an equally good job of transferring purchasing power across time.  All else being equal, you use the more liquid one for that.  That's why the equilibrium is to converge on a single standard.

Isn't that what is really happening right now , with the usd/euro/yen.
Also the title is a bit misleading , reading through your post.

maybe ;-)

but i dont think that bitcoin gets replaced anytime soon. its a piece of software. i can change. its the honey badger of the currency world ;-)

bitcoin , litecoin and maybe a 3rd will be the top coins for years.

Why, and why not? We are not economists nor currency experts, so interested in the real reasons that this may be true.

I've invested into 3 Cryptocurrencies, a nice healthy portfolio  :D

Good luck getting the general public to understand and be interested in another cryptocurrency, let alone build up an infrastructure around it as it's currently happening around Bitcoin at a fast pace. It will take a long time before Bitcoin gets replaced by another cryptocurrency and it will need to have significant benefits over Bitcoin, similar to the benefits Bitcoin has to traditional payment methods today.

Silly boy.  Just because you are no expert, doesn't follow that there are no experts on this forum.

Litecoin is the other, but Bitcion will dominate.

If you are someone that is heavily invested in Alt coin I can see where you would like to see other coins grow with or with out the demise of Bitcoin.  That doesn;t mean it will or won't.

Your network is too big idea,  consider the Internet and it's growth.  :-) 

Or adoption of Radio / TV and telegraph.

The adoption of water, rail or air travel.

The publication of books.

We have a long ways to go.  things can grow large and to levels never before thought possible.

We have worked with many E-currencies in the past and each one satisfied a specific market. Bitcoin is a new e-currency and it satisfies a specific market. Therefore, other ecurrencies will emerge only to fit the needs of the community that uses that ecurrencies.

Here at forex-metal.com, we are considering implementing other e-currencies such as Litecoin. We would like to hear about what the bitcoin community thinks of this e-currency. If there is a sufficient market for it then there's a big chance we might implement it.

Forex-Metal Support

To be clear, that's "we" as in the good people of Hive, not "we" as in everyone in this forum.

  Wall Street Journal (Germany): From Litecoin to Freecoin
http://www.anonmgur.com/up/d8728f6c1474af8a28ec4d9ce96ab682.JPG

I don't think it's healthy. :D Today most cryptocurrencies has similar progression. Nowdays people generally trust cryptocurrencies as a complex. So there is not big difference between the currencies at the end. Just my opinion :D

Why liquidity is a desirable property of a store of value?  It's the property that you can always find buyers or sellers at large volumes - what makes this thing useful to large players.  It's also a necessary condition for having a deeply traded market - one whose price doesn't move much during large buys or sells.

That this property is very slow and difficult to achieve should be obvious.  It's that chicken and egg problem that Bitcoin has been gradually solving, that's characterized by massive volatility.  That volatility is a problem for those who are primarily interested in predictably transferring purchasing power across time, and its source is not yet having enough market liquidity (and in turn, market depth).  If Bitcoin manages to achieve sufficient liquidity for large scale finance, then where's the incentive for the big players go through the slog of bringing another one up to speed, unless it offers some majorly useful technical breakthrough?  And then wouldn't it be a whole lot easier, and financially less risky, to just upgrade Bitcoin?

Everybody acting like squirrels running from copycat to copycat is not conducive to very desirable stability, and so a Nash equilibrium is for large, thoughtful, entrenched interests to make up their minds and get on with business.