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Title: 2013-06-24 Guardian: Bitcoin's successors: from Litecoin to Freicoin and onwards Post by: erono on June 26, 2013, 12:30:39 PM http://www.guardian.co.uk/technology/2013/jun/25/bitcoin-successors-litecoin-freicoin
Everyone in the cryptocurrency world has heard of Satoshi Nakamoto, the mysterious inventor of Bitcoin. But not many have heard of Peter Bushnell, the not-so-mysterious inventor of Feathercoin. On 20 April, he announced his alternative currency to a gaggle of online followers. Two months later, over 8m of them have been mined. Feathercoin is one of a range of alternative currencies that, like Bitcoin, are based entirely on mathematics. Known collectively as alt-currencies, they have been launching in increasing numbers over the past year. Some launch for ideological reasons; others for technical ones; still more, for financial gain. Bitcoin is unlikely to be the only cryptocurrency to enjoy huge successes. So which altcoin will follow in its footsteps? Title: Re: 2013-06-24 Bitcoin's successors: from Litecoin to Freicoin and onwards Post by: BurtW on June 26, 2013, 12:34:05 PM So which altcoin will follow in its footsteps? None. They will all fail.Well Litecoin, maybe. Title: Re: 2013-06-24 Bitcoin's successors: from Litecoin to Freicoin and onwards Post by: Bitcopia on June 27, 2013, 05:31:31 AM While it's true that bitcoin is likely imperfect, it is also highly adaptable. Any alt currency with an attractive new property will probably just give cause to integrate that property into the bitcoin protocol. The alt currency would have to acquire critical mass at an astounding rate to surpass bitcoin at this point. And the more time that goes by, the less likely that already highly unlikely event is to happen.
I wouldn't be surprised to see some alt currencies with properties that give them unique functions that bitcoin has no interest in adapting toward. Your imagination is the limit here. Title: Re: 2013-06-24 Bitcoin's successors: from Litecoin to Freicoin and onwards Post by: smoothie on June 27, 2013, 06:49:53 AM So which altcoin will follow in its footsteps? None. They will all fail.Well Litecoin, maybe. Seems people's tunes are changing over time. Litecoin used to be the scam coin as some called it. I wouldn't speak too soon. You might end up eating your words in the future. Seems to be a trend for those claiming all altcoins are scams. Title: Re: 2013-06-24 Bitcoin's successors: from Litecoin to Freicoin and onwards Post by: solex on June 27, 2013, 10:51:12 AM While it's true that bitcoin is likely imperfect, it is also highly adaptable. Any alt currency with an attractive new property will probably just give cause to integrate that property into the bitcoin protocol. The alt currency would have to acquire critical mass at an astounding rate to surpass bitcoin at this point. And the more time that goes by, the less likely that already highly unlikely event is to happen. I wouldn't be surprised to see some alt currencies with properties that give them unique functions that bitcoin has no interest in adapting toward. Your imagination is the limit here. Yes. At the moment it is Bitcoin dev doing all the heavy lifting and the clone-coin issuers just copy Bitcoin's upgrades. Now, if a clone-coin came up with a fantastic new add-on, which was liked by the market, then Bitcoin dev could simply enhance Bitcoin using the new code. Unless, the new coin went closed source, but that would centralize it and cripple their growth. win-win for BTC, Title: Re: 2013-06-24 Guardian: Bitcoin's successors: from Litecoin to Freicoin and onwards Post by: TraderTimm on June 27, 2013, 06:05:49 PM If any alt-chain has features bitcoin should have, it is conceivable that we'll soft-fork to incorporate what works, and throw away what doesn't - invalidating the alt-coin in the process.
Also, convenient they left out the 51% attack on Feathercoin, eh? All alt-currencies are vulnerable to a much greater degree than Bitcoin is now. |