99% of alt worth is backed by bitcoin
This sentence doesn't make sense at all. Did you mean alts are priced in Bitcoin? Yes. Alts are backed by bitcoin as well. That means you can exchange them for bitcoin and little else. Just like bitcoin is backed by the USD. means you can exchange something for a fixed amount of the underlying asset. Alts are not backed by Bitcoin, and Bitcoin is not backed by USD. These are all free floating exchange rates. You can say that most alts are priced in Bitcoin, but that's not the same as 'backed'. That is why when they say that Bitcoin is backed by kilowatts of energy spent by the miners, it's absolute hogwash for the same reason. Backed by means you can exchange it for a fixed amount of the underlying asset. Fixed amount means that no matter how many currency units are presented for redemption, each one of them will be exchanged for a fixed amount of the underlying asset. If there is not enough of the underlying asset, it's called the system is operating on fractional reserve. |
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99% of alt worth is backed by bitcoin
This sentence doesn't make sense at all. Did you mean alts are priced in Bitcoin? |
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The growth of Bitcoin can only be compared to the growth of the internet.
In technical terms, if Bitcoin were the internet, this would be 1998.
Internet is not static in its underlying protocols, it has seen older technologies replaced with new technologies. I compare Bitcoin to UUCP here: https://bitcointalk.org/index.php?topic=766406.msg8724572#msg8724572 |
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...with only 500K-2M users as per Bitcoin.
Those numbers are overestimates, the real numbers are closer to 50k-200k. |
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I'm not sure if you can discount the infrastructure behind bitcoin. Others might do the same or better, but to catch up to bitcoin in terms of distribution or acceptance, seems far fetched.
Distribution of Bitcoin is far from ideal and will only get worse as mining becomes more and more centralized. As for acceptance, I am not sure the widely publicized numbers are anywhere close to reality. It's very hard to live on Bitcoin unless you are in a very big city and make a lot of efforts to find vendors who accept Bitcoin in exchange for food, shelter, etc. Same goes for infrastructure: the programming part is easy to adjust for crypto 2.0 technologies, this crypto movement has just started, the first mover advantage of Bitcoin is not that big, except in people's minds. Well, marketing and usefulness help to change people's perception rather quickly. |
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Automated Transactions should be tested on Qora first in case problems arise. If it's safe, it can be implemented on NXT. NXT has too much business and other features in the pipeline now to be disrupted by possibly faulty AT implementation. Besides, Smart Contracts, scheduled for 1.4 release of NXT, should cover most of the use cases of AT. Let Qora pioneer implementation of AT and test the heck out of it.
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]Whilst I'ma big fan of decentralisation, there are advantages of having a meeting place too.
Do you know of any decentralised alternatives to exchanges? I know there are some ideas but I'm a bit hazy on how they work, Do you know?
Unfortunately, there are no 100% decentralized currency-to-currency exchanges yet. Multigateway.org is semi-decentralized. NXT Asset Exchange (and its web frontend https://trade.secureae.com) is decentralized, but it's for trading assets mostly, although there are a few cryptos trading on it too. I believe they are working on the cross-chain decentralized trading solution right now. Well, my point was mostly not to store funds at centralized exchanges or any place where you need to trust third party. |
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The current dead-cat bounce has run out of steam. Prepare for a repeat of testing the lows of below $300 ~at the end of October.
And so it begins. |
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Mtgoxxed. We need regulations to hold these guys responsible for their failures.
Blame yourself for not keeping your funds at your own wallet and your own computer if you lost any. Centralized exchanges and services have to go. |
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Those just sound like PnD altcoins. Where would you keep your ear to the ground? Alternate crypto forums is full of emotional shills.
Both have very solid technology behind them and are innovative. They are pump and dump but then so is Bitcoin. Alternate crypto, and see if some idea is gaining traction then visit their own forums. Basically you want to be rich, but do not actually want any effort put into it. There is no innovative technology in any altcoin. They just copy bitcoin and make one or more minor changes and add nothing of value. The altcoin boom seems to be waning as alts in general are declining both in terms of bitcoin and in terms of fiat value. I would say that once the altcoin 'boom' dies down, there will be more room for bitcoin to be successful as people will be less distracted. I talked about NXT and BTSX. If you noticed that and still claim they are copies of BTC then you must be very dumb. These two, along with others are making BTC look obsolete. The only advantage BTC has now is market effects borne of first mover advantage.  |
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what is the size of Doge blockchain atm ?
~7 GB |
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LTC generation = Cryptocurrencies created between the creation date of LTC, and the creation date of DOGE.
Well, see my post above, a few days don't make a difference, and generally I don't see a point in defining generations according to when the crypto was created. The more productive approach is to look at technological and marketing aspects of the crypto. In that regard I believe Dogecoin is more advanced than LTC and will overcome its market cap in a few months. Dogecoin may even come much closer to Bitcoin's market cap than Litecoin ever did. Does it make Dogecoin revolutionary? Not really. Bitcoin was revolutionary for its time (2009-2013). Dogecoin only makes improvements on Bitcoin. The next revolution is crypto 2.0 technologies. Will it be NXT or some other crypto 2.0 technology? We shall find out soon enough, within a year the crypto 2.0 landscape will be much more clear. Dogecoin could fare quite well in this environment though. Bitcoin - not so much. Litecoin - that one will likely be dead sooner rather than later. |
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What is an LTC generation? NXT is crypto 2.0. LTC is a crypto 1.0 Bitcoin clone, same as Dogecoin. Dogecoin invented new marketing techniques, and thus it has a competitive edge. As for revolution, not really. At most it will help with wider adoption of crypto. |
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NXT was created long before DOGE.
They were launched around the same time, literally within a week from each other. |
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Correct. To successfully attack bitcoin the hashrate would need to go back down to 2010 levels. Not going to happen, ever.
Huh? Where did you pull that number/year from? Care to share your calculations? |
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actually he is. He said he would finish the things he said he would and then he is going full time on jinn
From what I have read anyway
Well, there are quite a few things that he promised to finish, so it's likely he'll stick around for a year or two, considering Jinn is connected to NXT per his words. |
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It is not just the most important NXT devs are leaving, THE DEVELOPER is leaving. Yes, there is James who is prolific and Jean Luc too, but really CfB is NXT. He is now moving on and with it will go the best ideas of NXT. The whole reason he built NXT was a test and he was pretty much honest about that always saying he would have a next project. NXT has a good enough start, it very well might live on and grow into something special, especially if James can get his Supernet going. James was good enough to do MGW, so maybe he can. Then again, MGW isn't working at the moment. Just saying. Ciyam is suppose to release his long discussed project and I feel confident he will deliver.
Where did you get the idea that CfB is leaving? At most he said that the development work needs to be decentralized more, it shouldn't depend on him only, he's trying to involve others to code for NXT, which is happening more and more. |
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