Can Bitcoin maximalism be defeated in the reality of adoption?

[iamnotback]

I leave this OP open to comment from all. I don't intend to participate. Let's hear what you all have to say. Here is your chance to pump your favorite altcoin (Ethereum maximalism delusion, lol) in the context of overtaking Bitcoin (yeah right   ), or to make more cogent comments. "Trump + Lisk with DAO for President" nonsense is your prerogative.

Re: Will Bitcoin be replaced by another cryptocurrency?

Does it make sense to believe that Bitcoin could one day be replaced by another cryptocurrency, that is, a cryptocurrency that really does make Bitcoin obsolete?

If we don't stop this BitCON Trojan Horse, the freedom of mankind will decline in a 666 system of digital tracking and centralized, top-down control much worse then we had with fiat cash.

We damn well better accomplish it.

This comment:

It is not dumb that n00bs don't know the technology and game theory economics. What is dumb is when n00bs (such as the Bitcoin maximalist comments in this thread) think they know something about an issue that is far too complex for them to be comprehend without deep research that they are unwilling or incapable of doing. This is known as the Dunning-Kruger effect.

So many dumb comments in this thread by Bitcoin maximalists who will invent any excuse possible to remain in denial of the fact that
...

Applies to the following incorrect post:

Bitcoin is flawed, but these flaws can be fixed. Bitcoin is already a big step ahead of fiat currencies.

The flaws can't be fixed both for technical reasons and also because of vested inertial resistance.

And BitCON will become 666 more oppressive+totalitarian than the fiat cash we had before it:

https://bitcointalk.org/index.php?topic=1465136.msg15124687#msg15124687
https://bitcointalk.org/index.php?topic=1502163.msg15126064#msg15126064

You are supporting the destruction of the freedom of mankind. Thank you for your unwavering, radicalised dedication to your geek-cool enslavement system ideals.

[1713413891]

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1713413891

[meme magic]

possibly, but likely not without also defeating cryptocurrency maximalism imo.

one of the only reasons im fine seeing stuff like eth/ripple scare the maximalists a bit, which is also the reason why i say its possible, but not without defeating cryptocurrency maximalism.

[Thenoticer]

Yes. Because there is no adoption and no need to use Bitcoin. And there will always be a need to use physical cash. Internet isnt everywhere, and does go out in places that do have it, so trade has to stop in these situations?

Why again do I need Bitcoin or an altcoin? I don't.

So governments outlaw cash, and mandate bitcoin. Obviously lots of sheep will follow. But other stuff will replace cash. ( remember, there are close to 1 million homeless already)

Maybe it's a local exchange dollar

Maybe it's tide detergent, google that..

Maybe people trade prepaid cards

Maybe people trade drugs /guns

Maybe people trade food, livestock, plants

Point is the blackmarket will never be extinguished, and people will use something to trade for those items.

Hmm, the bitcoin killer needs to be able to be a physical cash like item that can also be sent over the internet that uses some type of zero knowlege proof to verify that the physical cash item contains the value it claims.

[r0ach]

I told you not to sell at $430.

[kennyP]

Let's hear what you all have to say. Here is your chance to pump your favorite altcoin

Legend has it that Levi Strauss made his fortune selling durable workwear to all those miners in the 1850's gold rush in California. It's not exactly true (he patented the stud design on his Jeans much later in 1871), but the legend lives on - Levi Strauss made his fortune from selling needed inputs to all the miners, and in the process created a product that ended up having universal global appeal that survives to this day.

I think jl777 understands the legend of Levi Strauss

BTCD and SuperNET and Iguana and InstantDEX will provide services to all the other blockchains that will help them compete, so unlike most other crypto currency investments, jl777 isn't actually competing against all the other coins.

Investing in BTCD/SuperNET/Iguana/InstantDEX is like buying a share in a business that creates key inputs for an industry most of us here expect will boom very soon, so it doesn't matter which coins and platforms ultimately 'win', chances are the ones that surive will probably end up using jl777's tech, services, and products in order to scale and be user friendly enough for mass adoption.

[iamnotback]

Well you all have a diversity of valid points (except for r0ach who is just butthurt that he missed the 10 and 100 baggers and is failing miserably to make me feel jealous when in fact I was never invested in Bitcoin, rather I was only using it to hold some fiat cash flow... and he was told that numerous times), although my own prediction of what will happen differs from yours.

The wide divergence between the posts in this thread and my own view, is good evidence supporting my theory that we can't know a priori which technological and marketing view point is correct:

I've always believed in quality over quantity.

That is because you still don't understand Physics, i.e. you don't understand that 'quality' can't be distinguished a priori, because the Butterfly Effect is unpredictable, i.e. there is no top-down omniscience (you two clowns still haven't grasped the underlying entropic theory and that the reversibility of time/entropy[1] would only be possible if the speed-of-light was not finite, which is why you continue babbling nonsense about some impossible nirvana where you want to be the regulating top dick sergeants):

From this cesspool can rise a BitcoinTrojanHorse killer. Processes aren't noise free because there can't exist omniscience on which is the noise and which is the signal a priori (it can only be known in retrospect and even then perspectives will differ on the account of history).

It isn't usually possible to throw the bath water out independently of the baby when the baby is a decentralized market. You say you want decentralized markets, yet you are unwilling to accept their imperfection. Imperfection is required to have any dynamic system. Otherwise you have top-down control, which is the antithesis of existence, because the speed-of-light is necessarily finite (otherwise past and future would collapse into an infinitesimal nothingness) and thus a top-down observer can't anneal distributed processes in real-time.

Nature is simultaneously ugly and fabulously diverse and interesting. I wouldn't prefer the disinfected nirvana of absolutely no possibilities.

Yeah HODL some Bitcoin. It is the most stable CC so far. HODL your nose and realize the altcoin cesspool is necessary.

[1]

http://unheresy.com/The%20Universe.html#Entropic_derivation (AnonyMint's blog) https://bitcointalk.org/index.php?topic=355212.msg14270820#msg14270820 https://bitcointalk.org/index.php?topic=355212.msg14286635#msg14286635 https://bitcointalk.org/index.php?topic=355212.msg11218201#msg11218201 (from 2015 when AnonyMint got CoinCube interested in the entropic force) https://bitcointalk.org/index.php?topic=365141.msg9885459#msg9885459 (from 2014 when AnonyMint aka contagion got CoinCube interested in the entropic force)

[PondSea]

Let's hear what you all have to say. Here is your chance to pump your favorite altcoin

Legend has it that Levi Strauss made his fortune selling durable workwear to all those miners in the 1850's gold rush in California. It's not exactly true (he patented the stud design on his Jeans much later in 1871), but the legend lives on - Levi Strauss made his fortune from selling needed inputs to all the miners, and in the process created a product that ended up having universal global appeal that survives to this day.

I think jl777 understands the legend of Levi Strauss

BTCD and SuperNET and Iguana and InstantDEX will provide services to all the other blockchains that will help them compete, so unlike most other crypto currency investments, jl777 isn't actually competing against all the other coins.

Investing in BTCD/SuperNET/Iguana/InstantDEX is like buying a share in a business that creates key inputs for an industry most of us here expect will boom very soon, so it doesn't matter which coins and platforms ultimately 'win', chances are the ones that surive will probably end up using jl777's tech, services, and products in order to scale and be user friendly enough for mass adoption.

+++++Billion. Couldnt agree more

[iamnotback]

Let's hear what you all have to say. Here is your chance to pump your favorite altcoin

Legend has it that Levi Strauss made his fortune selling durable workwear to all those miners in the 1850's gold rush in California. It's not exactly true (he patented the stud design on his Jeans much later in 1871), but the legend lives on - Levi Strauss made his fortune from selling needed inputs to all the miners, and in the process created a product that ended up having universal global appeal that survives to this day.

I think jl777 understands the legend of Levi Strauss

BTCD and SuperNET and Iguana and InstantDEX will provide services to all the other blockchains that will help them compete, so unlike most other crypto currency investments, jl777 isn't actually competing against all the other coins.

Investing in BTCD/SuperNET/Iguana/InstantDEX is like buying a share in a business that creates key inputs for an industry most of us here expect will boom very soon, so it doesn't matter which coins and platforms ultimately 'win', chances are the ones that surive will probably end up using jl777's tech, services, and products in order to scale and be user friendly enough for mass adoption.

+++++Billion. Couldnt agree more

Look I am sometimes helping jl777 so I am not discounting the ongoing viability of Bitcoin for the interim and besides jl777 is (planning on) having his code support other coins such Zcash.

Yet I think BitCON may also be doomed medium-term. I just wrote two posts about this:

https://bitcointalk.org/index.php?topic=1502768.msg15136762#msg15136762 <--- must read
https://bitcointalk.org/index.php?topic=1502768.msg15136683#msg15136683

Some more comments:

no don't think it will its been around for nearly a decade and it should start getting increasingly more popular.

How can it get more popular if it can't scale  

Hope you realize BitCON is less popular than a shitty, bottom tier social network.

Even a moderately popular mobile app has more users than BitCON.

Delusion is nice isn't it.

When Smart Contracts will be implemented on the Bitcoin Blockchain that will be the standard. Even if a better coin or project will arise Bitcoin will always have its own appeal.

External data feeds break Nash equilibrium of mining. The only way to have this work securely is to entirely centralize mining, but this is where BitCON is headed any way.

There are some types of Smart Contracts that work without external data feeds, but not many. Basically Smart Contracts is bullshit. It is just another way to put all our digital information in public and under centralized control, so we are enslaved.

i've seen so damn many another cryptocurrency which have better and lot features compared to bitcoin

Which altcoin had better features demanded by masses 

I haven't seen one such altcoin ever.

bitcoin will always have the first mover advantage

Just like Blackberry, Nokia, and Palm.

Let's see what Android did to all of them (including iPhone), in just a few years going from 0% to 80+% global market share.

[generalizethis]

Well you all have a diversity of valid points (except for r0ach who is just butthurt that he missed the 10 and 100 baggers and is failing miserably to make me feel jealous when in fact I was never invested in Bitcoin, rather I was only using it to hold some fiat cash flow... and he was told that numerous times), although my own prediction of what will happen differs from yours.

The wide divergence between the posts in this thread and my own view, is good evidence supporting my theory that we can't know a priori which technological and marketing view point is correct:

I've always believed in quality over quantity.

That is because you still don't understand Physics, i.e. you don't understand that 'quality' can't be distinguished a priori, because the Butterfly Effect is unpredictable, i.e. there is no top-down omniscience (you two clowns still haven't grasped the underlying entropic theory and that the reversibility of time/entropy[1] would only be possible if the speed-of-light was not finite, which is why you continue babbling nonsense about some impossible nirvana where you want to be the regulating top dick sergeants):

From this cesspool can rise a BitcoinTrojanHorse killer. Processes aren't noise free because there can't exist omniscience on which is the noise and which is the signal a priori (it can only be known in retrospect and even then perspectives will differ on the account of history).

It isn't usually possible to throw the bath water out independently of the baby when the baby is a decentralized market. You say you want decentralized markets, yet you are unwilling to accept their imperfection. Imperfection is required to have any dynamic system. Otherwise you have top-down control, which is the antithesis of existence, because the speed-of-light is necessarily finite (otherwise past and future would collapse into an infinitesimal nothingness) and thus a top-down observer can't anneal distributed processes in real-time.

Nature is simultaneously ugly and fabulously diverse and interesting. I wouldn't prefer the disinfected nirvana of absolutely no possibilities.

Yeah HODL some Bitcoin. It is the most stable CC so far. HODL your nose and realize the altcoin cesspool is necessary.

[1]

http://unheresy.com/The%20Universe.html#Entropic_derivation (AnonyMint's blog) https://bitcointalk.org/index.php?topic=355212.msg14270820#msg14270820 https://bitcointalk.org/index.php?topic=355212.msg14286635#msg14286635 https://bitcointalk.org/index.php?topic=355212.msg11218201#msg11218201 (from 2015 when AnonyMint got CoinCube interested in the entropic force) https://bitcointalk.org/index.php?topic=365141.msg9885459#msg9885459 (from 2014 when AnonyMint aka contagion got CoinCube interested in the entropic force)

I think there are disrupters planted within the alt section. When you keep hearing, "all alts are scams," you have to wonder why the person is even here. That said, there isn't a big enough user pool for Bitcoin to carry out a maximalist strategy, it was too much of a demand, too early and by too small of a contingent to ever have any real effect--think the British in India. Wallstreet will determine how this plays out in the near term. Do they keep investing in Bitcoin start-ups that have yet to make in roads to mass adoption? Do they invest in promise makers like Eth? Or do they keep learning about cryptocurrencies and make better choices as those better choices are made available? My guess is that the proliferation of classes and books on the cryptocurrency and blockchain subject coupled with the research of big names like IBM illustrates that wallstreet is closing the learning curve and will be up to speed enough to make better choices as they are revealed or made available.

[iamnotback]

As AnonyMint predicted back in 2013...

The centralized Bitcoin won't be 51% attacked bcz those controlling it will have the 666 control system they designed Bitcoin to accomplish. In the transitionary phase now, the Chinese miners will be handed lots of wealth as the process of centralizing mining proceeds. We can't say every Chinese miner today knows he is part of the ultimate plan. We can't even say the Blockstream devs know they are part of some diabolical plan. They are just trying to fix a design that can't be fixed without restarting from scratch. Compartmentalization is the modus operandi of the DEEP STATE. This is a process. The DEEP STATE that designed Bitcoin has a plan over years.

Our other hope is the system blows up technically. But that is why Blockstream is receiving so much funding, because they probably have the expertise to centralize Bitcoin sufficiently whil still being able to give some illusion of decentralization for sufficient time that Bitcoin maximalists fall into the trap, of which SegWit is a major step in that direction.

https://bitconnect.co/bitcoin-news/126/what-is-gavin-andresen-telling-china-chinese-ama-details-revealed

The one-time anointed king of Bitcoin by Satoshi Nakamoto himself ... When asked about his association with Blockstream, who some see as a force looking to centralize Bitcoin, he did not seem to be in alignment with their agenda...

In regards to the centralization of Bitcoin, he now works for the Media Lab at MIT, who has just come out with a controversial concept known as ChainAnchor... ChainAnchor would coerce miners to not allow transactions that do not have the identities of the users of Bitcoins tied to their transactions and wallets, defeating the peer-to-peer, identity-protecting foundation of Bitcoin itself. Andresen also is a paid technical advisor to leading Bitcoin companies like Coinbase, BitPay, and Xapo.

His commentary on the upcoming Lightning Network concept was less than glowing...

[iamnotback]

Unlike Armstrong, I don't believe the masses can ever be saved. Never has that been the case, e.g. in the French Revolution they accomplished in the end totalitarianism under Napoleon. Nature purges the masses such as with the Black Death that killed a majority of Europe's population. I believe the powers-that-be will win control over the mainstream monetary system and they and the masses will decline together in a morass. I hold my hope in the bifurcation of the economy into a dying Industrial Age (which the powers-that-be and masses control) and a fledgling Knowledge Age which is controlled by the hackers and knowledge creators.

I understand Moldbug's "Only One Currency Can Win" which Satoshi also apparently validated.

And I have explained how I think a bifurcated economy could violate Gresham's Law and allow for two monetary units to coexist globally analogous to how national currencies coexist due to a Coasian barrier of individuals not trading directly internationally.

The one unit will be controlled by the banksters and the masses and this will be the 666 slavery system. The other crypto-currency unit will be for those who hold their "unit-of-account" in "units-of-knowledge". You see as a hacker, you don't care about money as a store-of-value, power-law distribution enslavement paradigm. We care about code and the freedom (power) to build (software, 3D printing designs, etc). The models of remuneration employed thus far for "open source" have depended mostly on large corporate funding. This has locked us hackers into the Theory of the Firm rigor mortis paradigm but remember knowledge can't be enslaved nor financed monetarily. Whereas what we really need is direct remuneration via micro payments.

Note the banksters need this alternative monetary unit too. For they need a place to hide their wealth from their own morass, and because if they squelch all knowledge formation, they will destroy their cancer's host and perish. Precious metals are no longer even functional in the competition against knowledge.

Do understand that everyone who is creative and likes to build things is a hacker.

I believe I know what needs to be done in terms of an altcoin. But getting it done may be more than one man could do timely.

[Spoetnik]

I told you not to sell at $430.

WOW i did not notice that it was close to $600 recently.. i had not looked at prices in a month or two.
AND..
ALL ALONG I SAID THE PRICE WOULD BE GOING UP (as the halving approaches)

Prediction 1 million & 1 on the mark for me

On Topic ?
I don't know LOL

I DO know they are irritating idiots..
I posted about the SEC crypto currency warning ..an official investor warning about crypto's
(i stumbled onto it by accident a few hours after they announced it online) DEC 4th 2015
So i posted about it in the Bitcoin main section and the cheerleaders went into over-drive
chanting on like a plague how it was GOOD NEWS !
Once one of them brain dead cheerleading peons gets a retort they can sink their teeth into
they all follow suit chanting it as their new dipshit mantra.

An duhh yeah.. a FRAUD INVESTOR WARNING issued by the SEC is good news ahhahahhahahah
idiots  

They were all like ohhh that makes it legitimate now  

Reality & Honesty have no place at all what so ever in Crypto.
You don't make money being honest.. hell it's digital money so it's fraud & criminals galore.
And worse because you can commit crimes in total anonymity and need no skills (unlike IRL criminals)
I have long said this is the perfect storm..
This is the turning point for humanity where we have never EVER had any easier way to get money

..real money

Scam.. then.. Cry FUD for bucks $$$

and the loitering dregs of society hoping to make a few bucks fiat $$$ are going to
latch onto anything they can Shill as a positive point and deny or ignore any that is negative.
A THAT IS HOW THEY *think* they make money.
Sadly the morons do not realize the idiotic mentality is extremely self defeating and actually self destructive to Crypto as a whole.

Look around you can see some dipshit bitch brat strutting around here early on with an account
and he can do escrows and after a couple years you all slurp his cock like he is the 2nd coming of Jesus.
Then he rips you all off and you find out the kid is 18 or 19 years old.. NOW !
A fucking CHILD !
Master-P for example.

..or we have little shits making web site services after school with their anonymity..
and it goes on and on.. easiest way for a brain dead loud mouth idiot brats to cash in and out
..making real money (fiat cash dollars $$$)
For example: School yard brats snagging a million dollars on their BlockNET ICO scheme
and then how you all supported it to profit from it like greedy profiteer dregs.

While they all chant they are Crypto "Supporters" ..ya so they can make money off it ROFL
A real supporter would confront the problems and address them.. not hide in silence.
I can see what account names here are curiously absent.
And i will of course notice when it's their time to show back up again to SHILL hard for their BAGS.
..then watch as they all prance around with pseudo-credibility (street-cred) around here  

Also..
If you can't read a paragraph of info on a forum.. (a forum is where people TALK with text which involves reading)
Then i think your a retard.. and should probably stick to Twitter.

And if you are a profiteer Investard then i think you need to GTFO of Crypto NOW !
You are all not needed or wanted and we some of us are tired of your self-destructive greedy antics.
Get a job at McDonalds or something..

They are all scared of honesty and frank conversations and will hide..
Criticizing any coin is forbidden behavior.. it is deemed "FUD" and should be avoided at all costs.
Sort of like standing on the Titanic then getting mad when people say it's sinking.
WHY ?
They in their minds think it's detrimental to them profiting off of their bags they are clutching
..and that is all that matters to them.

And you all can not deny it because i can count on both hands how many people in all of crypto care enough to talk about the tough issues.. the rest of you hide and cry FUD.
In other words ACTION Scream far louder than words and you are all 99% busted as shitcoin profiteers.
So go back to hiding or crying FUD "Scheme Coin" aficionado's ..it's what you all do best.
And the Bitcoin Fanboys are the same just a different coin that's all..

EDIT: Some spelling corrections.

[kiklo]

BTC will start losing $ Value & Market Share once LTC is directly traded for FIAT on Coinbase.
BTC won't be fixed as you have too many BTC holders drinking the Koolaid.

Whichever coins receive Direct FIAT trading will now share the spotlight that BTC used to own.

Anonymous coins will all be compromised due to some technical flaw or new method to track.

Truly Anonymous transactions will only be possible by Large Holders accepting a coin, but never making any On Chain Transactions.
Offchain Transactions are the only real way to keep anonymity.
Study the Mob & CIA's Money Laundering tactics, they get away with it on a daily basis.
(Cleaning Service that converts Dirty Crypto to Clean Legally Obtained Crypto.)

You reference the dangers of evil 666, all PoW coins will line up in that Legion, for in the end they will have but one centralized master.
In the Final Battle ZEIT and her Knights will Stand Alone against all of the Brave New World Orwellian Dangers.
Will We Win?   Time will tell.
Will We Fight?  Til the Last Breath leaves our mortal frames.


 

[iamnotback]

kiklo,

Although I plan on adding a form of anonymity (a new design I discovered a few weeks ago) which I think is more realistic (scalable and doesn't need Tor/I2P) than Zcash, Monero, and Dash, I don't view that as the main feature necessary to overcome the 666 problem in front of us. Nor is anonymity for the mass adoption. Anonymity is going to be there for when you need privacy. If the NSA wants to track what you are doing, it will be almost impossible for you to obscure all the metadata with any anonymity design. The most determined can probably be anonymous to the NSA, but not the masses. For the masses, they just need privacy from hackers.

Per the 2014 quote of AnonyMint in my prior post, I believe the way to overcome is to enable zillions of instant microtransactions and to make the block chain not trend towards centralization (all the block chain designs so far do trend to centralization). In this way, the people will do so many minute transactions and it will be done in a decentralized context, so there is no way to really control it.

The scaling required can't be done with any design that has been promulgated so far that I have seen.

Make it uber popular, decentralized, and make the transaction size so small that it would cost the government orders-of-magnitude more to document every transaction than they could steal with taxes. Given decentralized nodes for consensus, the government can't really regulate the nodes, they must regulate the users.

Take away the honeypot of profit, then the crocodiles go some where else. Let them have their expropriation with Bitcoin and fiat. We go bifurcate the economy.

This has been AnonyMint's plan since 2014 when he first discussed with CoinCube bifurcation of the economy as the debt laden old world Industrial Age collapses, and we usher in a new Knowledge Age.

Finally now all the technology necessary has come into clear view. And AnonyMint is healthy enough to code.

Yeah Litecoin+Coinbase may have a role to play in that old world fiat collapse clusterfuck.

P.S. For those who believe in the Biblical, I think it says the 666 is a mark and implant into our bodies. I believe this may support the notion that the overlords won't succeed by regulating only the nodes, and they will have to regulate each and every human. So maybe it is not yet time for the overlords to win. Maybe we the people do win this time.

It won't be long before they can take your phone from you during a traffic stop and see if you have a Bitcoin wallet on your phone.  If you do they will then confiscate your phone and you will have to prove your Bitcoins are innocent (and your phone is innocent) before they will consider giving your phone and Bitcoin wallet back to you.

This is why we will keep only an operating balance in a phone wallet.

The main balance will be a colder storage at home in a vault, or in safety deposit box. You will periodically move funds between your hot mobile wallet and your cold storage.

Btw, it really sucks what happened to you. Charge it to experience!

[Spoetnik]

Notice how Pump groups simply aim at the coin that is popular ?
If people group together somewhere the vultures follow.
And they always find a way in.

So if it is a currency that resembles a digital version of FIAT
then i think we are doomed with the same type of problems no matter what.

I don't think there will be any magic code that can overcome these fundamental core problems.
And so far the majority of interest in ANY crypto project has only been to profit from it all.
So how do you get the mass public on board with a new REPLACEMENT currency for FIAT ?
Show them how to profit from it or they will walk away..

Then once the crowd shows up to profit the rest of the other types follow suit..
Hackers / criminals gangs.. the TAX MAN and the NSA etc.
..round & round we go.

Dropping Bitcoin and moving to another coin would be a massive thing.
No other coin is used like BTC when it comes to real world adoption with retailers etc.
Are we to think they will all simply drop their support for BTC and replace it with an Altcoin ?
That would be a bold move.. one they would not want to do.
And when that happens it would set off a massive precedent.. changing the game.
The world would probably have less faith in Crypto coins wondering when will that happen again etc ?

Litecoin making moves ? ..sure i have no issue with that but i am skeptical.
I got into Crypto because i seen Litecoin listed as a donation address on "The Pirate Bay" with BTC.
They dropped the Litecoin donation address loooong ago guys.
Which was a blow because that was a BIG site and that was real world use / adoption in play.

It's what got me started.. i had wondered what the fuck a Litecoin was ROFL
I had seen TPB with the BTC address but i got off my ass and started searching around when i seen the LTC one added.
I wish i had gone and got into it all a year earlier i would have made a killing i bet.

BTC cheerleaders have a LOT of money invested so like i was saying before they won't WANT
to see anything but a positive future even if they have to lie to themselves.. this won't ever change.

[kiklo]

Dropping Bitcoin and moving to another coin would be a massive thing.
No other coin is used like BTC when it comes to real world adoption with retailers etc.
Are we to think they will all simply drop their support for BTC and replace it with an Altcoin ?
That would be a bold move.. one they would not want to do.
And when that happens it would set off a massive precedent.. changing the game.
The world would probably have less faith in Crypto coins wondering when will that happen again etc ?

BTC is worth ~ 9 billion $ at the moment, even thru that is a vast sum.
It is still minimal in comparison to even Digital Gaming which made $61 billion in 2015 alone.
http://www.cnbc.com/2016/01/26/digital-gaming-sales-hit-record-61-billion-in-2015-report.html

Retailers use Payment Service like CoinBase & Bitpay, they convert to FIAT as fast as they can,
so they really could care less as long as the payment service works well.

Will all support drop overnight , No that won't happen.
But will support for the other coins slowly eat away at BTC Value,
sure will, should be slightly noticeable on monthly basis.

Speed matters, BTC does not have it , and their price is so high they are no longer suitable for micro transactions.
Everyone in these forums are early adopters, so BTC not being the King of the hill seems shocking.
But to John Q. Public , BTC LTC Doge Ethereum , there will be no such reverence for the 1st popular one only the one that meets their needs.
General Public could just as easily use LTC or Doge without batting an eye, and why will they, because the markets still need digital coins to handle micro transactions.

 

FYI:
r0ach likes to talk about the Alts crashing, what he does not get , is that is the main support system propping up BTC, as more Alts lose value, the less BTC is needed to buy them meaning they may even be lower than 1 satoshi, then they move to the LTC & Doge Markets and will help their value stabilize not BTC.

 

[iamnotback]

Dropping Bitcoin and moving to another coin would be a massive thing.
No other coin is used like BTC when it comes to real world adoption with retailers etc.
Are we to think they will all simply drop their support for BTC and replace it with an Altcoin ?

That is not my plan to replace Bitcoin for what it is already used for. Bitcoin will continue for its small $9 billion "lunch money" demographic.

Bitcoin is not capturing the instant microtransactions demographic. There are not retailers who offer instant microtransactions using Bitcoin. Lightning Network is coming but it is flawed and won't scale quickly. LN is something like two years away from starting to really take hold. And even then it won't scale to millions of users without being centralized due to the technical issues around network topography and the surge load on the Bitcoin block chain has to be as high as the transaction load on LN.

This is an entirely new market. Think of paying for music downloads. Think of in game instant payments for apps. This is what JAMBOX is all about.

Bifurcation of the economy. I am talking about accelerating the development of the virtual economy.

[generalizethis]

Dropping Bitcoin and moving to another coin would be a massive thing.
No other coin is used like BTC when it comes to real world adoption with retailers etc.
Are we to think they will all simply drop their support for BTC and replace it with an Altcoin ?

That is not my plan to replace Bitcoin for what it is already used for. Bitcoin will continue for its small $9 billion "lunch money" demographic.

Bitcoin is not capturing the instant microtransactions demographic. There are not retailers who offer instant microtransactions using Bitcoin. Lightning Network is coming but it is flawed and won't scale quickly. LN is something like two years away from starting to really take hold. And even then it won't scale to millions of users without being centralized due to the technical issues around network topography and the surge load on the Bitcoin block chain has to be as high as the transaction load on LN.

This is an entirely new market. Think of paying for music downloads. Think of in game instant payments for apps. This is what JAMBOX is all about.

Bifurcation of the economy. I am talking about accelerating the development of the virtual economy.

Some would rather watch the world burn than see their power taken from them. I hope you have a plan to make this ubiquitous before they realize what hit them, and like PGP, I hope you let it lose before any concerted effort can be made stop it. ATM, I see decentralized technologies and cryptography like the invention of the printing press--some  will learn to use it, others won't see the threat/opportunity, while the rest are busy burning heretics.

[64dimensions]

To be more concise, despite the protestations of BTC supporters, they don't really know if BTC's first mover advantage will hold up. For this reason, this is why altcoin coins exist.

I think the possibility of BTC being the Visicalc or the Lotus 123 of cryptocurrenies is real and can't be discounted no matter what the advertising message is.

In terms of the internet infrastructure, Google has monetary incentives to spread high speed internet to the far corners of the world and cryptocurrencies will only benefit.

[iamnotback]

Some would rather watch the world burn than see their power taken from them. I hope you have a plan to make this ubiquitous before they realize what hit them, and like PGP...

Another guy sent me a PM concerned about my life.

I think the powers-that-be would love to have someone accelerate the lurch towards digital currency. I think they always think they can take control, because they think the power-law distribution of wealth is inviolable. They might be correct.

And any way, it will surely appear as though I am giving them what they want.

So I say relax and expect smooth sailing.

The biggest concern should be that I am typing here and am all words. Because implementation is the first and greatest challenge.

Bye, bye for now.