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Author Topic: Looks like someone is hiring coders to develop a competitor for Bitcoin  (Read 1866 times)
Isepick
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June 04, 2011, 08:02:59 PM
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Here's the job listing: https://www.odesk.com/jobs/Cyber-Currency-Developer_~~0c9020b9d4c4e663

From this company, First National Innovation Brokers, which is the first forex site I've seen that accepts bitcoins: http://firstnationalib.com/
(I posted this info in their thread as well, but I figured this probably needs its own thread for better exposure)

I wonder if anyone on the dev team would do any coding for them Wink

So it begins. The main worry I have is that one of the larger powerhouses start a project like this and then we have Googlecoins, or Applecoins, etc.  We knew this was going to happen sooner or later. Looks like sooner.
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June 04, 2011, 08:09:01 PM
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Skills Required:
PHP, MySQL, Java, Ruby On Rails, C++

If they wanted to create a decentralized currency they wouldn't use MySQL I think.
zby
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June 04, 2011, 08:11:09 PM
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Sometimes ideas just need the right time - maybe bitcoin opens this time slot for cryptocurrencies.  I don't think a company managed system will be in any direct competition with bitcoin - the main allure of bitcoin is that it is democratic and there is no central authority to make arbitrary decisions.  But a centralized system would also be much simpler to implement, more secure and will not need to waist so much of computing power.

On a side note the whole advert does not sound like a real threat at all.
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June 06, 2011, 07:12:38 AM
 #4

Yes, unfortunately for them, bitcoin is starting to go viral, and they won't stand a chance.  The decentralization and anonymity of bitcoin will prevail - we have the entire world as a resource, and the possibilities are endless.

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June 06, 2011, 07:15:36 AM
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Yes, unfortunately for them, bitcoin is starting to go viral, and they won't stand a chance.  The decentralization and anonymity of bitcoin will prevail - we have the entire world as a resource, and the possibilities are endless.

Can I tweet that?? Priceless!!

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P.S: This is unreal.....
Dude65535
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June 06, 2011, 07:18:05 AM
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I think the biggest advantage bitcoin has over any company developed competitor is that it can wait as long as it takes to succeed. A company would have a limited time to succeed.

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June 06, 2011, 07:25:13 AM
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So it begins. The main worry I have is that one of the larger powerhouses start a project like this and then we have Googlecoins, or Applecoins, etc.  We knew this was going to happen sooner or later. Looks like sooner.

Yeah, because a virtual currency backed by a single company worked so well for egold, digicash, flooz, beenz, cybercash, cybermoola, packetpass, and probably a few others I can't recall.  We already have a virtual currency backed by a single company, they're called dollars.

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June 06, 2011, 07:36:19 AM
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So it begins. The main worry I have is that one of the larger powerhouses start a project like this and then we have Googlecoins, or Applecoins, etc.  We knew this was going to happen sooner or later. Looks like sooner.

Yeah, because a virtual currency backed by a single company worked so well for egold, digicash, flooz, beenz, cybercash, cybermoola, packetpass, and probably a few others I can't recall.  We already have a virtual currency backed by a single company, they're called dollars.

Dont forget Liberty Dollars.
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June 06, 2011, 07:38:58 AM
 #9

I think you're exaggerating with the word "competitor" for bitcoin. It sounds more like they want to have an internal cryptocurrency for forex trading, and one probably tied directly to bitcoin's value (bitcoin-denominated, perhaps). If so, that's no more a "competitor" than Mt. Gox's internal accounting system.

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unclescrooge
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June 06, 2011, 08:09:25 AM
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I think you're exaggerating with the word "competitor" for bitcoin. It sounds more like they want to have an internal cryptocurrency for forex trading, and one probably tied directly to bitcoin's value (bitcoin-denominated, perhaps). If so, that's no more a "competitor" than Mt. Gox's internal accounting system.

I think too. Or why would they use bitcoin on their forex platform?

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