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Let's seriously discuss if this argument has any validity, because it sounds more like a biased idea with only a grain of truth to it. My personal opinion is if Bitcoin fails, this can have short-term effects for the adoption of cryptos, but the concept will survive. As well it's not quite clear what proponents of that idea mean exactly. What is failure? As long as someone mines and uses a crypto, it's not failed. Suppose, no encryption is broken, as then obviously I wouldn't ask this question.
Can we define failure of Bitcoin as "market cap below 50% of total market cap of the crypto industry"? It still wouldn't be a failure though, but we need a starting point of sorts to be able to tell that it's started to decline. Anyway, let me know what you think on these two points: what "Bitcoin failed" means for you and why if that technically happens would it be fatal for other cryptos if indeed you think it would be fatal for other cryptos?
Please refrain from pumping your favorite altcoin in this thread. Thank you.
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Suppose you knew exactly that the slump crypto currencies are in now will continue for another 12 months. There is capital flowing into crypto currencies, but it's not enough to move Bitcoin and alts higher, it's barely enough to keep cryptos afloat at the current level. What will be your actions if this situation goes on for another 12 months, till October 2015 (Bitcoin stays below $500, Top 5-10 alts stay at about the same price relative to Bitcoin)?
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Is Spoetnik from the gubermint and here to help us? Please discuss.
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Do yourself a favor and withdraw your coins from centralized exchanges. This prevents price manipulation of coins on the part of exchanges by faking volume with fake coins. Don't allow exchanges to operate on fractional reserves, be your own bank - that's what crypto currencies were designed for. If you don't - you will lose your coins sooner or later. You also suppress the price involuntarily if you store your coins on the centralized exchanges.
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Search by keyword 'nxtty' in Google Play. The app has some rough edges, but works mostly. Mind you, it's v1.0 only. Oh and they give a bonus to the first 100 000 signups, so hurry up ) Their main thread is here. |
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But it's not the tipping point after which it grows exponentially, no. It's the tipping point where people start fleeing it en masse to other technologies and undervalued cryptos. After all, why would you buy Bitcoin if you can buy something cheaper, which does the same, or even better - if you can buy something cheaper which does the same and then a few other things. Bitcoin was the bootstrapping crypto, now is the time for other technologies to take its place. It won't happen overnight, but the process has begun.
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Exchange your 0.00000001 doge for 10 NXTs (worth ~$0.45) + bonus.
PM me to get details of the trade.
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...you are hypocrites, because none of you stands in defense of Myriadcoin, which allows for a truely fair distribution among all PoW coins. You only talk about fair distribution, because you have invested in ASICs that allow you to mine Bitcoins or you have mined Bitcoins from the early start and have shitloads of them now (called 'vested interest'). 99.999% of people who are not miners don't give a rat's ass about distribution, as long as the crypto does what they need it to and they have to buy the crypto, PoW or PoS with fiat anyways. There you go, slap on your face  |
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Quoting: "Hashrate paid out the equiv. of 0.00366 BTC/day last shift for every 500 MH of Keccak (that's the equivilent to about 0.00366/1 MH/day of Scrypt mining). If any of you are mining anywhere else, I think this is just about as profitable as it gets. You can check the algo profitability graphs now on the main page of the pool to see the performance of each algo over the last shifts. The miner software is available http://hashrate.org/software (use the link near the very bottom, it's the SGminer that supports multiple algos) and the keccak stratum is stratum+tcp://stratum.us.hashrate.org:6666 Let anyone you know who mines know! " https://nxtforum.org/general-discussion/calling-all-miners/ |
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Since Litecoin keeps going down, and NXT is holding steady, let's make predictions at what range their market caps will meet each other. Comments are welcome too |
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Bitcoin swings between 550 and 650.
Older alts with no innovation slide lower and lower with each swing of Bitcoin.
New alts with innovation trying hard to take a share of the market from the older dying alts and from Bitcoin.
Rinse and repeat every 2-3 weeks. Another two months of summer of the same.
Anyone has different observations? Please share.
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NXT - "Bitcoin", NEM - "Litecoin", Qora - "Dogecoin" of the Proof-of-Stake world  |
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Quoting: "Hashrate paid out the equiv. of 0.00366 BTC/day last shift for every 500 MH of Keccak (that's the equivilent to about 0.00366/1 MH/day of Scrypt mining). If any of you are mining anywhere else, I think this is just about as profitable as it gets. You can check the algo profitability graphs now on the main page of the pool to see the performance of each algo over the last shifts. The miner software is available http://hashrate.org/software (use the link near the very bottom, it's the SGminer that supports multiple algos) and the keccak stratum is stratum+tcp://stratum.us.hashrate.org:6666 Let anyone you know who mines know! " https://nxtforum.org/general-discussion/calling-all-miners/ |
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How long should NXT run before you can admit it's as secure as Bitcoin?
It takes courage to answer this simple question and then stand by your own word when the time has passed and NXT is still around.
It's been running for 7 months now. Hackers are trying to break it every day. If you believe NXT is not secure, how much longer will you allow it to run to prove it's just as secure as Bitcoin?
Let me answer my own question.
1 year. That is, on its 1st anniversary at the end of November I'll consider it as secure as Bitcoin. Your turn now.
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Quoting: "Hashrate paid out the equiv. of 0.00366 BTC/day last shift for every 500 MH of Keccak (that's the equivilent to about 0.00366/1 MH/day of Scrypt mining). If any of you are mining anywhere else, I think this is just about as profitable as it gets. You can check the algo profitability graphs now on the main page of the pool to see the performance of each algo over the last shifts. The miner software is available http://hashrate.org/software (use the link near the very bottom, it's the SGminer that supports multiple algos) and the keccak stratum is stratum+tcp://stratum.us.hashrate.org:6666 Let anyone you know who mines know! " https://nxtforum.org/general-discussion/calling-all-miners/ |
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Just kidding  It's for you to pay attention. Now that you pay attention, I have a question for all naysayers and doubters who claim that NXT is vulnerable. How long should NXT run unbroken before you can admit it is secure enough? 1 year, 2 years?EDIT: don't post no lols. Give your best well-thought answer you can come up with. I mean it. Look inside your doubting minds and post what you really think, however scary it may sound to admit or post publicly. Posting an honest answer requires manly conduct. Ok, let's hear from you now. |
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In 1 year from now I see these 10 coins having the biggest market cap in no particular order:
Legacy PoW coins: Bitcoin/Litecoin/Dogecoin/Myriadcoin/Peercoin
One or two privacy oriented Cryptonote based coins - there are a few of them with Monero leading the pack right now.
Crypto platforms: NXT
Perhaps: Counterparty and Bitshares if the latter actually manage to present some competitive product.
Maybe one other new coin that doesn't exist yet and can offer something really unique to users.
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