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Do yourself a favor and learn about BitsharesX before knocking it. It is a large improvement over Bitcoin/Litecoin at its core, AND it has an awesome new decentralized market place to trade what's called bitassets. 15 second transaction time, forced "Bitcoin's best practices" for anonymity which forced you to use a new address for every transaction, the got rid of old nonsensical addresses and you can create your own user account to send/receive funds with, an improved PoS implementation... it is not a pump and dump coin like the people trying to prop up their own investments would like you to believe.
More about bitassets.... Bitassets are like a crypto currency, but they are pegged to the value of another commodity/fiat through an entirely decentralized method. There is bitUSD which always closely resembles the value of the US dollar. Soon the other markets will launch which will allow the trading of Bitcoins, Chinese yen, Gold, Silver, Etcetra. It is the first crypto currency to be able to peg itself to the value of an outside commodity/fiat in a decentralized way.
I hate to look like such a fan boy, and I usually try to stay impartial, but all this FUD is annoying. The Bitshares guys mostly don't post on these forums because of how they were treated when they first announced the Bitshares concept over a year ago, so I am here sticking up for them.
Well the thing is, I don't prefer people who do not contribute to Bitcoin and go make something this complex.
If any Bitshares supporter markets it somewhere as Bitcoin 2.0 you will get unbearable amount of hate from the community. Whenever BitsharesX will succeed or not remains to be seen. I have pointed out that the complexity is the problem for a wider audience.
It's hard to introduce people to Bitcoin, and it's much easier to understand than then whole system behind Bitshares.
To me, this is like saying William Durant shouldn't have decided to diversify his business to so many models of Chevrolet vehicles back when the cool thing to do was to make a carriage style car (ala Ford). But without that innovative train of thought, maybe today we would all be driving the same vehicle? It isn't wise to be afraid of new bleeding edge technology because you think the innovators could be working on something you'd prefer, or even because you don't understand it yet as Coinhoarder mentioned. (Have you actually tried?)
For me, the most important ideological notion behind crypto-currencies is the freedom that it entails. So why not respect other people's desires to innovate, to work on the project of their choosing of their own free will, without having a negative view of their choice? Don't we all stand to benefit if some cool new piece of open source software can take blockchain technology to the next level? Sure, maybe not monetarily, but as a society we all stand to benefit.
Have you considered that the ideas presented by BitSharesX are a bit too radically different than how BTC operates for both teams to be working on the same project (you said you'd prefer people worked on BTC instead of altcoins)? I think it is quite an elegant system now that I "get it". Yes, the documentation needs to be improved along with the "layman" description of the system, but that is all in the works.
Satoshi & Bitcoin are awesome because they gave the world a new way of achieving a "mostly" secure and decentralized network guarded by the laws of cryptography and math. But as with most groundbreaking ideas, someone will come along, remix it, cannibalize it, whatever, and make a new idea that will improve upon the old.
I believe a technology that improves upon network security and reduces confirmation times will displace Bitcoin in the long haul. Maybe it will have some shiny bells and whistles too. (bitUSD anyone?) No disrespect to the miners, to the network, to Satoshi, but I think it will happen. Most likely NOT because the Bitcoin developers are technically incapable of incorporating the innovation into Bitcoin, but probably more likely due to the politics of doing so (i.e. the miners who've invested capital will not like to see it migrate away from PoW).
