Kprawn (OP)
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Merit: 1073
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January 29, 2016, 04:51:22 PM |
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We all know Bitcoin will not be the most dominant and strongest Crypto currency out there in the future. In every technology thus far, we have seen the
original pioneers and then the competition starts and eventually the original technology gets replaced by something more innovative or more popular.
Bitcoin will also follow this cycle and we will still have access to it, but it will not be the de-facto token or currency. Whatever will happen in the future,
will not be in our control.... and here comes the BUT ..... Bitcoin will always be the original concept and the first Crypto currency that broke through to
the financial world.
We now own some of the technology that would change the financial world.... We own something with historic value. The first stamp or the first new
currency .... Just imagine 20 years or 50 years from now, when most people will look back at this and say... " I was part of that revolution to change the
monetary system or the way people made electronic transactions."
I can still remember my first computer .... a ZX Spectrum 48k .... Today, it is a collectors item and it is still very valuable.
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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watashi-kokoto
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January 29, 2016, 05:56:44 PM |
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We all know Bitcoin will not be the most dominant and strongest Crypto currency out there in the future. In every technology thus far, we have seen the
original pioneers and then the competition starts and eventually the original technology gets replaced by something more innovative or more popular.
Like Ethereum?  |
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MicroGuy
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Twitter @realmicroguy
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January 29, 2016, 05:57:06 PM |
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Yes. The competitor with first mover advantage rarely manages to maintain his throne.
As bitcoin becomes inundated and infiltrated by companies like Blockstream and PWC, alternative currencies will learn from these breaches and compromises and build stronger systems to prevent Satoshi's original protocol from being perverted, co-opted, and corrupted.
I had not long ago given up entirely on Bitcoin after discovering the depths of its infection, but BIP102 has given me new-found hope. If somehow this proposal can escape the paid puppets and prevail, it will buy more time for the community to pull the pesky corporate weeds from its Core.
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SFR10
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Crypto Swap Exchange
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January 29, 2016, 06:19:21 PM |
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You may have a point here but I sort of not seeing that to happen (at least for this technology in particular). Last time I checked, there were 600+ Alt coins IIRC and all have so far failed to do what their first intended to do (to beat BTCitcoin and eventually replace it as the leading crypto currency) and many will surely follow the same path with the objection of doing the same but it's like on one side it's BTCitcoin alone and on the other side, all the rest of alt coins and yet BTCitcoin prevail. It may not be perfect and surely it has it's flaws but it's a system that constantly get's improved over time and it keeps on increasing it's distance between other coins and it won't stop even when it's looking the other way at the moment.
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Kprawn (OP)
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January 29, 2016, 06:53:34 PM |
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You may have a point here but I sort of not seeing that to happen (at least for this technology in particular). Last time I checked, there were 600+ Alt coins IIRC and all have so far failed to do what their first intended to do (to beat BTCitcoin and eventually replace it as the leading crypto currency) and many will surely follow the same path with the objection of doing the same but it's like on one side it's BTCitcoin alone and on the other side, all the rest of alt coins and yet BTCitcoin prevail. It may not be perfect and surely it has it's flaws but it's a system that constantly get's improved over time and it keeps on increasing it's distance between other coins and it won't stop even when it's looking the other way at the moment.
Once a lot of these bigger entities, like banks and financial institutions starts getting involved, things will change. The guys at Netscape might have thought so at the time too, but then bigger players got involved and it got dirty very quickly. There are a lot of things riding on the success of this experiment, but we have to realize that these companies have a lot of funding and influence with governments. The ETH and Ripples of the world, might just get the backing they need from these companies and we will have much stronger competition. The only thing they cannot claim, is that they were the first and original decentralized digital phenomenon. Bitcoin will boldly make that claim and always be remembered for that... |
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n2004al
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January 29, 2016, 07:16:25 PM |
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We all know Bitcoin will not be the most dominant and strongest Crypto currency out there in the future. In every technology thus far, we have seen the
original pioneers and then the competition starts and eventually the original technology gets replaced by something more innovative or more popular.
Bitcoin will also follow this cycle and we will still have access to it, but it will not be the de-facto token or currency. Whatever will happen in the future,
will not be in our control.... and here comes the BUT ..... Bitcoin will always be the original concept and the first Crypto currency that broke through to
the financial world.
We now own some of the technology that would change the financial world.... We own something with historic value. The first stamp or the first new
currency .... Just imagine 20 years or 50 years from now, when most people will look back at this and say... " I was part of that revolution to change the
monetary system or the way people made electronic transactions."
I can still remember my first computer .... a ZX Spectrum 48k .... Today, it is a collectors item and it is still very valuable.
It is really a good post. But it will be verified? All we here (or most of us at least) hold bitcoin because hope on its value and even more in its future value. And why to not tell that hope in having profits (and even big profit) from the amount we have. If this scenario could be verified all our hopes would be dreams put at the trash. It is highly possible that such situation given at the main post cam be verified. Normally every new thing is an improvement of something old. Even bitcoin was and is a qualitative technological improvement. So remain to think and to decide what to do with our bitcoins. I have chosen time ago what to do. Diversification of my amount of bitcoins in other cryptos and the hold only of some of those. In this way have all my bitcoins but in several forms. |
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knowhow
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January 29, 2016, 07:52:39 PM |
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No i doubt any others altcoins can cross bitcoin in value,they can get close but they need the community support,and interest into them ,i believe bitcoin is the new gold virtual,others altcoins will only achieve silver value,but well i may be wrong and any other altcoin may surge and strike bitcoin or join to the kingdom,but kill bitcoin is one thing i doubt anyone really believe it may happen.
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greBit
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January 29, 2016, 07:59:55 PM |
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No i doubt any others altcoins can cross bitcoin in value,they can get close but they need the community support,and interest into them ,i believe bitcoin is the new gold virtual,others altcoins will only achieve silver value,but well i may be wrong and any other altcoin may surge and strike bitcoin or join to the kingdom,but kill bitcoin is one thing i doubt anyone really believe it may happen.
Yeah there is a lot of competition between other cryptocoins which has not reached till the level of bitcoin, i think they may get merged to become more stronger but as of now bitcoin is the market leader |
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knowhow
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February 01, 2016, 04:51:33 PM |
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Since i joined crypto world i knowed bitcoin as king ,ltc as silver and doge as bronze,those three still being out there and interest still hot,people making a good income with them these days,but i always say any crpto related to btc and no to other crypto .
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NorrisK
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February 01, 2016, 05:04:02 PM |
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The big difference with other technologies like the computer that you are describing is that bitcoin van evolve in contrast to the computer.
I also think bitcoin will be replaced by something else in the future, but this does not have to be the near future.
Facebook is also still around, despite being "old" now. The key thing I guess is evolution of the technology, something that the replaces tech companies were ignorant off.
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knowhow
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February 03, 2016, 01:30:14 PM |
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The big difference with other technologies like the computer that you are describing is that bitcoin van evolve in contrast to the computer.
I also think bitcoin will be replaced by something else in the future, but this does not have to be the near future.
Facebook is also still around, despite being "old" now. The key thing I guess is evolution of the technology, something that the replaces tech companies were ignorant off.
Well facebook taked down all the others social medias in a short time,offering all services and a full pack of games ,that made the most people use it,and keeps bringing new games and changing something,i believe they sucess keeps being huge the same way as whatsapp just killed the previous sms fee service,now you can talk unlimited to anyone without have to pay a fee evertyme you reply .With bitcoin i believe its very hard to replace or to reach bitcoin status that is very high and witha huge support at it. |
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