Why cryptocurrencies will succeed

[Anders]

Preaching to the choir here probably. Anyway, cryptocurrencies will become a huge success because they have the ability to be decentralized, peer-to-peer and trustless. That's it basically. It's a revolutionizing force. A paradigm shift.

The problems today with cryptocurrencies are on the periphery, not in the core technology.

[extortion]

spam

[Anders]

spam

Lol, yes I can see that your post is spam.

[extortion]

spam

Lol, yes I can see that your post is spam.

double spam?

[Anders]

spam

Lol, yes I can see that your post is spam.

double spam?

Obviously. I was hoping that people would add arguments for why cryptocurrencies will succeed, or come up with counter arguments. In a non-spam way of course.

[TaunSew]

The economics section would be a better place to post that question, not the alternate section

Why would this succeed?  It comes down to freedom and security.  Each person makes a democratic individual choice whether to use crypto currencies.  When the decentralized exchanges come in, crypto thefts will largely cease and holding our money in cryptos would be safer than holding it in banks (where the government can freeze or seize it).

[Anders]

The economics section would be a better place to post that question, not the alternate section

Why would this succeed?  It comes down to freedom and security.  Each person makes a democratic individual choice whether to use crypto currencies.  When the decentralized exchanges come in, crypto thefts will largely cease and holding our money in cryptos would be safer than holding it in banks (where the government can freeze or seize it).

Ok, but I thought the economics section was only for bitcoin. Yes, freedom from banks will me a major incentive. And for merchants, liberation from the credit/debit card bondage.

[trader001]

I won't be so sure.

Remember when global trade went down the tube, government will impose capital control. Cryptocurrencies will the the first on the list.

[Anders]

I won't be so sure.

Remember when global trade went down the tube, government will impose capital control. Cryptocurrencies will the the first on the list.

Andreas Antonopoulos said in a video that it will not be so easy to regulate cryptocurrencies because then it will be like what happened with the shutting down of Napster and services like that and BitTorrent was developed. Another problem he mentioned was that if for example Russia will make bitcoin illegal, then other much more stealthy cryptocurrencies will be used. Something like that.

What I think could happen is that governments will issue their own regulated cryptocurrencies! Those could have unfair advantage of being supported by regulations. But even then, they can't make it too unfair, or people will use unregulated coins instead. On the other hand, if a global officially regulated cryptocurrency would be developed, and if it was fair enough it would be good. To make it fair they would have to allow bitcoin and the altcoins to compete with the official coins.

[Spoetnik]

decentralized as in Bitcoin or NXT ?
Both have dev teams that call the shots and have massive control.. they make the code we all use.
and we can open source stuff but so what.
just because i modified the BTC wallet does not mean every one earth is going to start using Spoetnik's BTC wallet LOL

so how do YOU in fact make a truly decentralized currency then ?

[digitalindustry]

Preaching to the choir here probably. Anyway, cryptocurrencies will become a huge success because they have the ability to be decentralized, peer-to-peer and trustless. That's it basically. It's a revolutionizing force. A paradigm shift.

The problems today with cryptocurrencies are on the periphery, not in the core technology.

and basically , and generally these are parameters that will decide their success -

then there are other secondary ones.

[Anders]

decentralized as in Bitcoin or NXT ?
Both have dev teams that call the shots and have massive control.. they make the code we all use.
and we can open source stuff but so what.
just because i modified the BTC wallet does not mean every one earth is going to start using Spoetnik's BTC wallet LOL

so how do YOU in fact make a truly decentralized currency then ?

At least Bitcoin is a stable project. Not even the core developers can put in backdoors or nasty stuff like that into the code. Because other developers would notice that. So I think it's safe enough.