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TERA
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December 10, 2015, 01:36:01 AM |
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Possibly something that doesn't require all this brute force mining .
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Blaze.
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December 10, 2015, 01:43:33 AM |
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I would say people would loose faith in cryptocurrency altogether because what is the point of cryptocurrency when it has already failed. Why would people be willing to go through another failure when they have just witnessed one?
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Quantus
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December 10, 2015, 03:08:54 AM |
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Even if Bitcoin fails our blockchain might be salvaged to be used in a new network/protocol.
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(I am a 1MB block supporter who thinks all users should be using Full-Node clients) Avoid the XT shills, they only want to destroy bitcoin, their hubris and greed will destroy us. Know your adversary https://www.youtube.com/watch?v=BKorP55Aqvg |
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KingW
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December 10, 2015, 03:09:54 AM |
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Bitcoin won't fail. If it does, that means no one is interested in cryptocurrency, and there would be no alternatives.
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Wealthyminds
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December 10, 2015, 03:17:15 AM |
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Most people would probably jump to Litecoin as it is one of the most well known altcoins.
Altcoin |
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Kakmakr
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Leading Crypto Sports Betting & Casino Platform
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December 10, 2015, 06:15:34 AM |
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I will just wait it out, until they patched it and continue as normal. The only thing Bitcoin could not recover from, is if it had to change most of the major rules, like the max amount of coins being changed or the security being compromised that would reveal the private key. I think ethereum and Ripple would take off, if Microsoft and banks start to support it aggressively.
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HabBear
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December 10, 2015, 06:37:06 AM |
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I think it would make most sense to use the cryptocoin that has the greatest use, volume, and acceptance. I think that would be Litecoin.
The bigger problem is that if Bitcoin fails the market is going to soften on all cryptocurrencies. It's likely the market would turn away from all of them. Why would adoption continue with some alternative if the original and strongest option fails? E.g., if gold failed as a commodity would people use less valuable metals as an alternative? Not likely.
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bearex
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December 10, 2015, 09:49:40 AM |
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Probably (i would) to Litecoin and after Litecoin to Dash. It kind of follows the popularity pattern.
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n2004al
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December 10, 2015, 10:04:26 AM |
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Which other cryptocurrency would people choose if Bitcoin would fail?
For sure that which know better in that moment. Or that which use more in that moment. Or that which have more in that moment. Or that which will be recommended by his best friend. Or that which will be more valuable in the market in that moment. Or some crypto with which is obsessed in that moment. Or.... who knows which. May be hundred and hundred the reasons which can make someone to chose one or another one. Maybe after a few will win the most connected coin with the various business. Because will be those which will rule the market. Or maybe can be some and no only one. Because every crypto can have its supporters and can preserve or increase its part of market. There are actually t many new currencies which compete in price with Litecoin for example (which was always second and following bitcoin). So it is something that cannot have answer the question made from OP according to me. |
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MaxTax
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December 10, 2015, 10:10:53 AM |
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I think that if bitcoin fails, that any other cryptocurrency won't have a chance of surviving either.
Cryptocurrency is based of the original bitcoin so that's why I think this won't happen.
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jt byte
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December 10, 2015, 10:15:13 AM |
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If bitcoin fails I just don't knnow wich cryptocurrency I would choose.
Bitcoin would not fail in my opinion is just to big to fail.
We will see if in the future bitcoin will survie or not.
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lolgato
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December 11, 2015, 11:50:29 PM |
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If bitcoin crashes the other cryptocurency prices will crash and it will remain stagnant for a while and the next best one would be litecoin but the market for cryptocurency will be horrible.
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ShrykeZ
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December 11, 2015, 11:51:15 PM |
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The obvious choice would be Litecoin, although as others have suggested if Bitcoin was to fail why wouldn't Litecoin...
I personally think it would be a new coin created with the majority of Bitcoins flaws removed.
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DimensionZ
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Shit, did I leave the stove on?
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December 11, 2015, 11:52:52 PM |
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Wasn't Litecoin created to be a satellite of Bitcoin should the first one fail? Now there are so many altcoins that it's impossible for all of them to succeed?
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AndySt
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December 11, 2015, 11:53:54 PM |
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I don't think what litecoin will take place of bitcoin. They're the same age and the same operation principles therefore, in case of bitcoin crash we will see something new.
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Frost (OP)
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December 12, 2015, 10:27:55 PM |
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I don't think what litecoin will take place of bitcoin. They're the same age and the same operation principles therefore, in case of bitcoin crash we will see something new.
There are already so many cryptos out there, I am not sure if there will be many new ideas. |
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Erkallys
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December 12, 2015, 11:56:05 PM |
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Realistically, if bitcoin would fail then any of the existing altcoins won't be a good choice. Can you imagine imagine bad press after this incident? Cryptocurrency market will be in pieces.
People would be scared to invest in ANY cryptocurrency ever again, because if the biggest and most renowned of crypto of them all could fail then every lesser altcoin can fail too!
This could happen like that, but that also could happen like this : a big renowned company decide to starts his own cryptocurrency. This time people could follow it without any problem. Since Bitcoin would be destroyed, this cryptocurrency would take the leading place. In a more generalistic way, this most successful altcoin would be the one launched by a big company, ideally Facebook, Twitter or Google. |
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Bitcoinpro
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December 13, 2015, 12:16:15 AM |
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if bitcoin were to fail.. id just not transact for a few hours until they patch/fork it..
its been done before quite quickly.. so i wouldnt lose my head. id just go out for the day and see what has been updated in the evening..
thats the beauty of bitcoin.. its not a fixed system
yes,, their is no such thing as systemic failure for software it can be patched and rewritten,, Fiat has the systemic failure of inherent inflation and asset bubbles |
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acquafredda
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December 22, 2015, 04:25:19 PM |
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if bitcoin were to fail.. id just not transact for a few hours until they patch/fork it..
its been done before quite quickly.. so i wouldnt lose my head. id just go out for the day and see what has been updated in the evening..
thats the beauty of bitcoin.. its not a fixed system
yes,, their is no such thing as systemic failure for software it can be patched and rewritten,, Fiat has the systemic failure of inherent inflation and asset bubbles Let's say Bitcoin is not the best currency to be used by people with heart diseases.  Seriously, Bitcoin can be adapted to circumstances as you guys are saying but my only concern is that when politics comes into place (blocksize debate, fork or not...) a certain kind of failure can happen. That's my concern but I think that BTC is here to stay |
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Frost (OP)
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December 28, 2015, 06:32:33 AM |
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if bitcoin were to fail.. id just not transact for a few hours until they patch/fork it..
its been done before quite quickly.. so i wouldnt lose my head. id just go out for the day and see what has been updated in the evening..
thats the beauty of bitcoin.. its not a fixed system
yes,, their is no such thing as systemic failure for software it can be patched and rewritten,, Fiat has the systemic failure of inherent inflation and asset bubbles Let's say Bitcoin is not the best currency to be used by people with heart diseases. Seriously, Bitcoin can be adapted to circumstances as you guys are saying but my only concern is that when politics comes into place (blocksize debate, fork or not...) a certain kind of failure can happen. That's my concern but I think that BTC is here to stay I wonder when the blocksize debate will ever be resolved. |
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