Use bitusd which is decentralized usd..
Wait just right there. How does “decentralized USD” work, if the USD is regulated by the Federal Reserve System, which is a central entity? Its just an iou to usd which is pegged to usd with some rules.. Who enforces the peg? |
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Use bitusd which is decentralized usd..
Wait just right there. How does “decentralized USD” work, if the USD is regulated by the Federal Reserve System, which is a central entity? |
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well than good sir,what is it,is it a ponzi scheme or money of drug traffickers?
I used "and" upthread. It can't be both. |
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Quantum computers are for solving certain kinds of calculations faster, but that doesn't mean they will automatically break all cryptography in the world.
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Nobody has discussed that this proposal is anglocentric. I speak Spanish, and it's as hard for me to learn “car yellow what” than “1hshbx”.
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We also need to testrun a permanent 1MB cap altcoin. We haven't got one of those yet.
which is false Can you post a link for the [ANN] thread? |
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Maybe Bitcoin 2.0 then?
We still have a long way before Bitcoin 1.0. An improved version with anonymous untraceable transactions. It doesn't have to happen in 2 or 3 years, but eventually SHA256 will become obsolete and we'll be forced to upgrade.
As I said, what makes people think SHA256 will become obsolete? Seriously, I don't know. What will the new bitcoin based on another algorithm be called? Somebody could say that Internet was upgraded and the name remained the same, but the new internet surely isn't the same one people used in 1980.
It's important to note that the Internet evolved progressively. Yes, it's not the same today than it was in the 80s, but the changes didn't happen overnight. So, Bitcoin will be Bitcoin, even if they change the hash algorithm. I think the changes will come but they will be introduced smoothly and won't require users to sell their coins and buy something new.
I totally agree. |
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When SHA256 becomes obsolete due to a faster than brute force break
You seem pretty confident on that statement. Do you know anything we don't know about the SHA256 algorithm? |
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People that want “faster confirmation times” don't understand how transactions and confirmations actually work.
It's safe to accept an unconfirmed transactions for trivial items, such as coffee, (yes, the same example as always) or groceries. If you are buying something more valuable, like, say, a TV, then waiting for 1 confirmation is reasonable, and in what kind of hurry would you need to be if you can't wait 10 minutes to watch a movie in your new enormous 4K TV?
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Oh, God, not this “gavincoin” nonsense again.
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It's impossible to have a decentralized exchange that deals with dollars and euros, unless dollars and euros were implemented with a Bitcoin-style protocol. But if we got there, then I think exchanging them would be pointless.
Isn't that essentially what BitShares are trying to do? Then it's a wasted effort. How can my physical banknotes be represented by a digital token without a central authority regulating it? |
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It's impossible to have a decentralized exchange that deals with dollars and euros, unless dollars and euros were implemented with a Bitcoin-style protocol. But if we got there, then I think exchanging them would be pointless.
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Each one we have seen with better technologies have so far failed
Failed at replacing bitcoin? This process takes quite some time. Let's wait 20 years and we'll see. Either bitcoin tech advances faster (which I hope, but doubt), or it will be replaced. Imagine you wouldn't know cryptos and someone asked you for a choice. Would you use coin A with slow confirmaton times, bloated blockchain and controlled by big mining companies, or would you use a fast, slick, fully decentralized coin B with a lot more features. Yes, the network effect is in favour of bitcoin, but if we assume that most crypto users are rational (may be too much to assume?), there will be a shift sooner or later. If everyone chose coin B, then coin B would be bloated and controlled by big mining companies. As simple as that. not if coin B is proof of stake and allows for blockchain pruning Blockchain pruning doesn't magically disappear transactions. They still have to be stored somewhere. And Bitcoin is implementing it already. Proof of Stake... still needs a computation to be done, right? There would be server farms doing that computation, whether you like it or not. |
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Each one we have seen with better technologies have so far failed
Failed at replacing bitcoin? This process takes quite some time. Let's wait 20 years and we'll see. Either bitcoin tech advances faster (which I hope, but doubt), or it will be replaced. Imagine you wouldn't know cryptos and someone asked you for a choice. Would you use coin A with slow confirmaton times, bloated blockchain and controlled by big mining companies, or would you use a fast, slick, fully decentralized coin B with a lot more features. Yes, the network effect is in favour of bitcoin, but if we assume that most crypto users are rational (may be too much to assume?), there will be a shift sooner or later. If everyone chose coin B, then coin B would be bloated and controlled by big mining companies. As simple as that. |
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The reason why I think Bitcoin is and will still be the mainly used cryptocurrency, is because altcoins have been created as an alternative to Bitcoin, but Bitcoin is supposed to be the alternative to digital payments and government currency, which makes altcoins the alternative to the alternative, and therefore the chance of success for them is pretty small.
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Because Bitcoin is the original one and has the network effect and we don't need a new unnecessary coin.
What do you mean by the original one? Are you aware that there have been numerous predecessors to bitcoin? It's the first one to include a blockchain as core part of the protocol. The blockchain is Bitcoin's invention. |
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Depends on which government and military you mean and in which context?
USA. Who do you think developed Internet? |
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What did the internet look like, in the first years? A toy-network for students?
For the military and government, you mean. |
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