dsattler
Legendary
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Activity: 924
Merit: 1000
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January 15, 2015, 06:54:51 AM |
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Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
The only one I have heard of is NuBits: https://nubits.comThis crypto currency is pegged to USD, so 1 NuBit (NBT) is 1 dollar. My new cryptocurrency Shitbits is also pegged 1:1 to the USD. How many can I put you down for? A coin that is designed to lose value along with the dollar. brilliant! So what's your idea for a stable crypto currency? Euro, silver or gold-backed? Look at last year's charts! |
Bitcointalk member since 2013! 
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Eamorr (OP)
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January 15, 2015, 10:39:55 AM |
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Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
The only one I have heard of is NuBits: https://nubits.comThis crypto currency is pegged to USD, so 1 NuBit (NBT) is 1 dollar. My new cryptocurrency Shitbits is also pegged 1:1 to the USD. How many can I put you down for? A coin that is designed to lose value along with the dollar. brilliant! So what's your idea for a stable crypto currency? Euro, silver or gold-backed? Look at last year's charts! For those who require stability, instability can be evened out with futures markets. The classic is the winter farmer who wants to hedge his income. If there's a bumper harvest, he loses out. However, if there's a drought, he still gets paid. There are already many futures services available for Bitcoin (and pretty much all the alt-coins of significance). So I don't buy the assertion that instability is problematic. |
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digitalindustry
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January 15, 2015, 12:12:05 PM |
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Disgusting. Especially for a Snr member of this site. Hey, I didn't create the coin, but it is one of the altcoins your topic refers to overthrowing Bitcoin! Maybe Borgcoin will beat the Cryptoshekel instead? http://bitcointalk.org/index.php?topic=574236.0 Borg hey - they really should have made that sha256 but? it's a contender ! |
- Twitter @Kolin_Quark
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monsterer
Legendary
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Activity: 1008
Merit: 1002
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January 15, 2015, 03:51:56 PM |
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A coin that is designed to lose value along with the dollar. brilliant!
How much has the dollar lost against BTC this year? |
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dsattler
Legendary
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Activity: 924
Merit: 1000
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January 16, 2015, 07:54:25 AM |
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A coin that is designed to lose value along with the dollar. brilliant!
How much has the dollar lost against BTC this year? Maybe he means AUD or NZD??? LOL Sure, you could do even better if you peg a crypto currency to a basket of values like USD, CHF, EUR, CNY, gold and silver... |
Bitcointalk member since 2013!
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FandangledGizmo
Legendary
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Activity: 1138
Merit: 1001
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January 16, 2015, 08:31:10 AM |
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Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
The only one I have heard of is NuBits: https://nubits.comThis crypto currency is pegged to USD, so 1 NuBit (NBT) is 1 dollar. My new cryptocurrency Shitbits is also pegged 1:1 to the USD. How many can I put you down for? A coin that is designed to lose value along with the dollar. brilliant! So what's your idea for a stable crypto currency? Euro, silver or gold-backed? Look at last year's charts! For those who require stability, instability can be evened out with futures markets. The classic is the winter farmer who wants to hedge his income. If there's a bumper harvest, he loses out. However, if there's a drought, he still gets paid. There are already many futures services available for Bitcoin (and pretty much all the alt-coins of significance). So I don't buy the assertion that instability is problematic. The futures markets are centralized is my understanding & they still don't let you maintain the value of a USD easily which is what most businesses work to with regards to expenses or a BitCurrency. (The fact that 100 000+ businesses, selling hundreds of millions in sales for USD from BTC immediately with no evidence they are using the futures market shows you're wrong and the market is looking for fiat stable decentralized assets.) The poster before who said NuBits has held the value of a dollar after 3 months so you're happy. You are the kind of person they rely on not to analyse the system. http://bytemaster.bitshares.org/article/2015/01/14/A-New-Perspective-on-NuBits/Lets say there's a 30% chance their system could fail within a year. Then a NuBit is actually only worth $0.7 as you are paid no interest to get one, then you are taking the bad end of the deal imo. Bitcoin won't hold it's value but it compensates with the chance of gaining in value at least. If you want to look at a system that is sustainable and backed by an average of 300% collateral in BTS, I would suggest BitUSD ofc. |
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claycoins
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January 16, 2015, 09:19:38 AM |
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I don't see it yet and won't happen for a while.
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Eamorr (OP)
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January 16, 2015, 11:32:49 AM |
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Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
The only one I have heard of is NuBits: https://nubits.comThis crypto currency is pegged to USD, so 1 NuBit (NBT) is 1 dollar. My new cryptocurrency Shitbits is also pegged 1:1 to the USD. How many can I put you down for? A coin that is designed to lose value along with the dollar. brilliant! So what's your idea for a stable crypto currency? Euro, silver or gold-backed? Look at last year's charts! For those who require stability, instability can be evened out with futures markets. The classic is the winter farmer who wants to hedge his income. If there's a bumper harvest, he loses out. However, if there's a drought, he still gets paid. There are already many futures services available for Bitcoin (and pretty much all the alt-coins of significance). So I don't buy the assertion that instability is problematic. The futures markets are centralized is my understanding & they still don't let you maintain the value of a USD easily which is what most businesses work to with regards to expenses or a BitCurrency. (The fact that 100 000+ businesses, selling hundreds of millions in sales for USD from BTC immediately with no evidence they are using the futures market shows you're wrong and the market is looking for fiat stable decentralized assets.) The poster before who said NuBits has held the value of a dollar after 3 months so you're happy. You are the kind of person they rely on not to analyse the system. http://bytemaster.bitshares.org/article/2015/01/14/A-New-Perspective-on-NuBits/Lets say there's a 30% chance their system could fail within a year. Then a NuBit is actually only worth $0.7 as you are paid no interest to get one, then you are taking the bad end of the deal imo. Bitcoin won't hold it's value but it compensates with the chance of gaining in value at least. If you want to look at a system that is sustainable and backed by an average of 300% collateral in BTS, I would suggest BitUSD ofc. Of course futures markets are "centralized". As is every Bitcoin exchange on the planet. A future is a contract. It involves trusting the exchange will pay out on maturity. |
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WinkleSprinkle
Newbie
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Activity: 14
Merit: 0
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January 16, 2015, 04:50:27 PM |
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Bitcoin will always be but an altcoin can def come in and snatch some signif market share
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FreeBit
Member
Offline
Activity: 106
Merit: 10
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January 16, 2015, 05:03:15 PM |
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The Cryptoshekel with all its implications will not come along as visible as this  ... So, which altcoin is intended to be it? My guess is .... Ripple/XRP ... Why? Because of the inbuild debt-mechanism, the PR and some more indicators ... |
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FandangledGizmo
Legendary
Offline
Activity: 1138
Merit: 1001
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January 16, 2015, 05:21:09 PM |
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Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
The only one I have heard of is NuBits: https://nubits.comThis crypto currency is pegged to USD, so 1 NuBit (NBT) is 1 dollar. My new cryptocurrency Shitbits is also pegged 1:1 to the USD. How many can I put you down for? A coin that is designed to lose value along with the dollar. brilliant! So what's your idea for a stable crypto currency? Euro, silver or gold-backed? Look at last year's charts! For those who require stability, instability can be evened out with futures markets. The classic is the winter farmer who wants to hedge his income. If there's a bumper harvest, he loses out. However, if there's a drought, he still gets paid. There are already many futures services available for Bitcoin (and pretty much all the alt-coins of significance). So I don't buy the assertion that instability is problematic. The futures markets are centralized is my understanding & they still don't let you maintain the value of a USD easily which is what most businesses work to with regards to expenses or a BitCurrency. (The fact that 100 000+ businesses, selling hundreds of millions in sales for USD from BTC immediately with no evidence they are using the futures market shows you're wrong and the market is looking for fiat stable decentralized assets.) The poster before who said NuBits has held the value of a dollar after 3 months so you're happy. You are the kind of person they rely on not to analyse the system. http://bytemaster.bitshares.org/article/2015/01/14/A-New-Perspective-on-NuBits/Lets say there's a 30% chance their system could fail within a year. Then a NuBit is actually only worth $0.7 as you are paid no interest to get one, then you are taking the bad end of the deal imo. Bitcoin won't hold it's value but it compensates with the chance of gaining in value at least. If you want to look at a system that is sustainable and backed by an average of 300% collateral in BTS, I would suggest BitUSD ofc. Of course futures markets are "centralized". As is every Bitcoin exchange on the planet. A future is a contract. It involves trusting the exchange will pay out on maturity. BitShares is a decentralized exchange So with BitUSD there is no need for future contracts or centralized risk. 2015 is the year of the decentralized Bitcoin exchange https://www.cryptocoinsnews.com/2015-year-decentralized-bitcoin-exchange/http://m.youtube.com/watch?v=TtCVRIwcBYUThe new BitShares site is being revamped should be updated by next week & a video on the decentralized exchange too soon. |
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Eamorr (OP)
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January 16, 2015, 05:23:31 PM |
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The Cryptoshekel with all its implications will not come along as visible as this ... So, which altcoin is intended to be it? My guess is .... Ripple/XRP ... Why? Because of the inbuild debt-mechanism, the PR and some more indicators ... I would tend to agree. Ripple Labs do a lot more than just tech. Not only have they got top engineers and money - they also have influence and are negotiating with banks and liaising with governments. Though there will be an epic battle - I feel it will be between XRP and Stellar. NXT will be banging the open-source hippie commune drum loudly for a good while yet. The "anonymous" new-world-order cryptos (for buying drugs) will die. Bitcoin will be around for a good while yet. |
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