HD space and internet speeds are more serious issues than you're imagining anyway; your hard disk is big enough, your internet is fast enough, your wages can afford all those things, and your internet and phone companies can afford to upgrade their infrastructure, all in your region of the world.
But, guess what? You're not the only person that exists, in the only region of the world. Not everyone is experiencing the exceptionally good conditions, that you are fortunate enough to have. Other people aren't so fortunate.
Only the smallest fraction of people run nodes, 6000/6,000,000,000 so the analogy does not hold. |
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Zero confirmation economic risk has changed from the disadvantageous double spend propagation attack to one where the transaction does not confirm at all due to restricted transaction processing capacity, mempool forgetfulness, and selective transaction relay.
Yes their is risk, and using various system such as say a insentivized master node system, you can select wether you wanted a small value, my coffee to go through and for a large value say broadcast tx to only be included on the block chain. The option to take the risk for they type of transaction is what is needed. At the moment your are forced to send a coffee sized in to lanquish mempool with really high fees. |
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Cryptocurrency is something like a dot com bubble where people are speculating on its future value.
Blockchain is this trendy thing where people want to implement it without considering if they really need it.
Don't be surprised to see many cryptocurrencies fail, and certainly many blockchain start ups will fail, just like the dot com bubble.
Without real world use, cryptocurrencies have no real value. People who believe a bunch of hard to compute 1's and 0's as a pure store of value are seriously misguided. But then just look at how many people are only interested in BTC as a get rich quick scheme. Considering BTC as a pure investment scheme it nothing short of a ponzi style pass the bag holder scheme.
As far as alts go, there is a lot of IOU trading occuring, but very little actual transactional use. Bag holders beware!
Ethereum is designed to be a distributed computer. Ether is the fuel for processing on this (once immutable) blockchain. Anyone who thinks it has value as a currency should try downloading the full blockchain. It is not efficient for that purpose.
Litecoin is a simple bitcoin clone with a few tweaked parameters and different proof of work algo. The creator has shown no innovation for this coin beyond a simple clone ever. No wonder it is dropping down the charts. If used heavily, it runs into the same problem as BTC.
Dash at least shows some technological innovation. However, its anonymity features are not very efficient (due to the number of UTXO's created). As a BTC fork, if used heavily, it runs into the same problem as BTC. At least it is showing to be adaptable change. It is not yet known how the masternodes would cope under real world stress.
Monero and other privacy centric coins at least have black market value!
Going back to BTC, at least is has some real world uses if it is not allowed to be strangled by artificially limited capacity. It might not be useful for buying a pack of rolling papers, but fiat can probably do that much more efficiently than any lightning network bank channel.
Good points, the real world use of the BTC blockchain is a system to organise you activities around, a ledger, much like you act in a manner that you see will fill your bank account ledger with money. at the moment the ledger is fail, as its becoming hard to change the ledger as coins are struggling to be moved |
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People are not buying altcoins because of instant send or low fees.
That makes no sense since the other person in the transaction would need to accept that alt as well.
There is no worthy infrastructure or economy for those alts.
The reason why those alts are rising is not adoption by noobs, but whale attempting to trick you.
They are using the higher bitcoin fees to take advantage. This is 2013-2014 altcoin pump all over again.
Eventually, majority will be converted back into btc, like always.
People are buying alts for profit hedge and features. Fictitious whales are not an argument against real division and to much friction in the BTC economy due to high fees, and a choke point via block size. If you were knowledgeable, you would know that the average bitcoin user is ignorant of the blocksize issue. The average user sends a tx and walks away, never participating or paying attention to the arguments. The average bitcoin user is not buy altcoins as hedges. The average bitcoin user has less than 0.5 btc, they aren't going to risk that into an alt. Only the whales are buying those altcoins as pure speculation. The Dumps will come like always. The average user knows when his/her coins got stuck and payment not made which is increasingly the Now. So no. |
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People are not buying altcoins because of instant send or low fees.
That makes no sense since the other person in the transaction would need to accept that alt as well.
There is no worthy infrastructure or economy for those alts.
The reason why those alts are rising is not adoption by noobs, but whale attempting to trick you.
They are using the higher bitcoin fees to take advantage. This is 2013-2014 altcoin pump all over again.
Eventually, majority will be converted back into btc, like always.
People are buying alts for profit hedge and features. Fictitious whales are not an argument against real division and to much friction in the BTC economy due to high fees, and a choke point via block size. |
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...
Certain alts of recent should be a serious wake up call. They have proven the market is prepared to discount the faults instamines, some centralization whatever.
The market demand for instant send, open policy dev discussion and the ability to implement change is to high.
People are tired of the fight, and want solutions exacerbated by the fact they can see the solutions. The BTC network is being driven to a halt for normal users as it becomes expensive to send BTC with current blocksize.
...
I disagree. The current altcoin rise is based on pure pump speculation from statements such as yours, which only feeds into what they are attempting. At the end of the day, majority of altcoins are worthless and not as secure. If noobs think those are viable alternatives, they will soon get what they deserve. Don't mistake a good old fashion altcoin pump, with actual utilization. If you look at the charts, they are clearly pumps. Instant send, and low transaction fee features are agnostic to being an alt. The non speculative part of my statement is that here is an operating system that I can cheaply and isntantly send my coins, vs here is a system where I can not. This is where the value is being arbitraged out. Looking at the charts, Percentage wise I am not sure btc dominance has ever been lower. |
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3 things
1. What business accepts these alts? It rhymes with "shogun"
2. Why not? Is it becasue of Bitcoin's coveted MASSIVE AMOUNT OF CUMULATIVE HASHES PROTECTING EVERYONE'S BTC? It is, isn't it?
3. Altcoin exchange rate or market caps means nothing. Fiat money is free to those with the printing press or access to the right kind of credit.
I accept your points, but they are orthogonal to my main contention, which is the implication the Dev/Miner consensus look to have ground to a standstill with vastly deleterious effects If they can not even get through a larger blocksize even as a stop gap of say 8mb or something, in the face of huge user demand, which btc community always sought, what does this mean for any meaningful dev on anything else. What good are hash protected coins if they become unable to be moved? Your so right we do have massive btc adoption, but now cannot cheaply spend our coins....! |
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OK btc world, I am of the view that if the BTC community cannot get the blocksize issue sorted out now, and some sort of optional instant send side chain, the demand for the features are great enough that some alt will replace BTC, sooner than later. Not just for the blocksize issue, but for the implication of the state of dev in BTC.
Certain alts of recent should be a serious wake up call. They have proven the market is prepared to discount the faults instamines, some centralization whatever.
The market demand for instant send, open policy dev discussion and the ability to implement change is to high.
People are tired of the fight, and want solutions now, this is exacerbated by the fact they can see the solutions ready.
The BTC network is being driven to a halt for normal users as it becomes expensive to send BTC with current blocksize.
It is interesting to see the 1st to market advantage of BTC being thrown away, particularly as BTC now what it craved for so long, real world adoption and usage, unlike most other coins, and what is being done with it?
Fees have gone through the roof due to a stupid fight between a few people than no one cares about. Get a 8mb blocksize already or whatever if you want to live.
At the inflection point of BTC success, the dev model has failed to reach consensus. This may be one of the importnat boundary conditions of sucess::how a coin is sets up and dev/miners dynamic.
It seems the consensus there to make them work in harmony is just as important as on-chain consensus
I am agnostic as to whether BTC or some Alt takes the crown, but there you have it BTC can implement solutions now,
The bigger issue writ large ::
If BTC cannot even now take steps to address the blocksize issue, when solutions abound, how then can any meaningful dev take place to improve the utility of BTC?
Its up to you to see the writing on the wall or go down with the ship.
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I feel this is a major reason for the dsh hike, it represents and alternative that offers solutions now, whereas the BTC community has been unable to increase TPS capacity and keep fees low, even with demand.
This coupled with the EFT rejection means people no longer see this advantage going to BTC.
The only reason that Dash doesn't have such problems is that it has, you've guessed it, near-zero people using it. The demand for Bitcoin is extremely high in comparison to other cryptocurrencies, which is why the problem exists in the first place. Yes well thats true to some extent, but it seems a solution is more forth coming in the DSH world. I mean how hard would it be to bump up the block size to 4mb? really, I mean HD space has gone up what 10x or more. But this has proven not only intractable but there has been outright internecine warfare. So what the chances of getting say all the side chain stuff through etc.... On the other hand the DSH foundation or what ever you tube their executive discussions and have a large dev fund. Don't get me wrong, DSH was a bugmine/instamine and that has serious issues, but BTC has left a large opening in the market through its failure to get it together. I'm not saying DSH is not a pump and dump, but it does show people want solutions and the market is willing to heavily discount the instamine over stuck dev in BTC. I mean I wanted to do a legit transaction the other day and pay reasonable fees and I was stuck, coins in limbo... I do not want this and now feel my coins are kinda stuck. I mean I don't want to mess around with the whole send another transaction, etc etc... |
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Yeah, DASH is working exactly as intended. To make Evan as much money as possible  What's the distribution exactly again? DASH price is now in the phase of: Those who sell first make the profit or cut losses. Others will be bagholders forever.
Correct. Trashcoin with zero utility. What affects the price of Dash fly like a rocket and is now the second highest price Dash 2 after bitcoin in Poloniex
The same group pumping a lot of these altcoins, with some gaining over 200% in 24 hours (with over >$1m in volume). You know Dash is doing really when you have people like Lauda posting in threads like these in the altcoin speculation forum.
People who in the past never had much interest in these threads suddenly feel pressured to reply to these Dash related threads
because they feel threathened one way or another.
Delusions of an entrenched bagholder: I've made well over 3000 posts in the altcoin sections.  Its just another confirmation that Dash is now considered a much more direct competitor to Bitcoin then in the past.
What kind of world would we live in, where a instamined scam coin becomes a "direct competitor" to Digital Gold? The problem in BTC land, is the who blocksize debacle, and the thirst for instant transaction now. I feel this is a major reason for the dsh hike, it represents and alternative that offers solutions now, whereas the BTC community has been unable to increase TPS capacity and keep fees low, even with demand. This coupled with the EFT rejection means people no longer see this advantage going to BTC. |
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Lol the first dash clones ^^  The funny thing there is there is no real innovation with this clone. The block size is immaterial when you can't fill it. Also, using a new untested algo is dangerous. And finally, if they're cloning us, why in the world didn't they keep the development fund? Why oh why take that away? Build on the brilliance of Dash, don't take the shining star away man!!! Shame! why would you take the Dev fund away?  |
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Ok but who cares, why say malicious, bitcoin is free to be attacked at any time, it's not like anyone owns BTC, thats the whole point
the word malicious is here I posit misused. They simply have a different vision and saw a way to make their point, and in doing so exposed a bug more widely to the market.
That's all legit.
In fact everything when is legit.
I don't understand how people can say they get bitcoin then try to cry fowl.
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doges mistake was the unlimited supply
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ok thanks sounds good
one thing though
"Dash masternode will last forever and pay Dash while NEM masternode to live need NEM to be used widely"
wouldn't a master node that last for ever be better as it allows people to hang in there during down turns in usage
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Can any one set out the differences / advantages disadvantaged of NEM vs DASH
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MS should have had something out even if stripped down and working::
to try and launch all at once a fully functional product::
I have to confess all we see is endless announcements of tests or something like that.
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Whats the differences between nem and dash?
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Can anyone point out differences between NEM and DASH?
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@jubalix: How do you like that Bitcoin instamine? One million coins all going to the same person...damn!
Yes that person invented the whole damn thing, so probably worth their work. I feel pretty good about it actually, Satoshi could become the worlds richest person / entity and worth over 1T. Also not a programing bug... When btc did have an emission bug, the hard forked or rolled back or whatnot, UNLIKE Dash |
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New to the community, but have been lurking for too long. I have an Exodus wallet, with a couple of hundred dollars worth of bitcoin ready to put into an anonymous cryptocurrency. To me, it looks like bitcoin will never fulfill its promise as a p2p internet money. But if it fails, can Dash take over its space?
All those ATMs, slaved to bitcoin – could they be repurposed to dispense Dash? Do you see such a thing happening? I’d like to buy in, after a pullback in price, but see the possible failure of bitcoin as a dark swan pointing a bloody sword at Dash. Or am I off base here?
You have to wonder....my concern about dash is the "bug" that awarded someone 10~20% of supply? Has been discussed many times, here is the official stance: https://www.dash.org/forum/threads/official-dash-instamine-issue-clarification.7569/Thats not really and explanation, nor does the semanticisation of premine cut it. It's more an exercise in apologetics what it means is someone is sat with 15%~20% of supply. Who cares what it was called only the maths matters. To try and follow up and say most dash was purchased on the open market, does nothign to say their is a a larger single holder. |
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