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Author Topic: The biggest issue of altcoins?  (Read 1006 times)
ImHash
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July 13, 2016, 03:59:15 PM
 #21

Simply put the most of the alternative cryptocurrencies are fake /scam/fraud/ponzi, I don't see any future for any of them except
The first 20 coins in market.

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July 13, 2016, 04:02:26 PM
 #22

would u be interested in starting open Github freedom repository for anyone to contribute to such a fundamental enabler technology for the greater good of all crypto projects?

No because I don't believe great designs are accomplished by committee in open source.

I believe great refinement and ecosystems are built in open source on top of great initial designs. Satoshi didn't design his system in public. He launched after he had already designed it and coded it up. The open source took over to refine and perfect it.

Fork this - - it's ripe to work upon this fine software:
https://github.com/input-output-hk/Scorex

~CfA~


Interesting software. The only problem is that this software is using Scala language which is new to me. Smiley
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July 13, 2016, 04:09:03 PM
 #23

Simply put the most of the alternative cryptocurrencies are fake /scam/fraud/ponzi, I don't see any future for any of them except
The first 20 coins in market.

Which sums up the issue in totality: the biggest issue of altcoins is trust. Longevity, and motivation. Bitcoin was built with no immediate profit motivation. No ICO, no crowdshare. And it been around how long, just now making significant traction? This is the definition of trust, and essentially people are going to stop chasing the blatant cash grabs and possibly support the alts that have has time to garner 'trust'. With all the coins already out, you really have to question the motivations of someone introducing yet another one.
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July 13, 2016, 04:14:19 PM
 #24

I have to give two:

1. Usability - I still think cryptos (including BTC) are way too complex and insecure for public consumption. Backing up wallets? WTF?? Are we mad??? Only geeks who wanna make money hunt this stuff out.
2. The blockchain itself - How large will all these blockchains be in 10 years? How long will it take to download for a new client. I hope a solution is on the way otherwise we'd all best get rid of that pretentious word "decentralized" and have the blockchain sitting out there on dedicated servers while we just sync our clients with them (like NTP).

Actually I'll make it three
3. The jargon - There's too much of it and the consumer don't care. Too many people in crypto expect consumers to learn all about crypto. They don't care. They just want it to work and they want their money to be safe. We need to get real.
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July 13, 2016, 06:57:03 PM
 #25

What is the biggest problem that every altcoin, crypto-platform, crypto-project has no choice but to face?

Yacoin(Created 5/2013) -> YBcoin ->  YACCoin -> Yocoin... etc.
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July 13, 2016, 06:58:57 PM
 #26

They lack a valid use case. Too much bullshit, invalid hype.

Agreed which is why I like Factom. No bullshit no hype just a valid use case that we can work with.

twitter.com/erikledgers
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July 13, 2016, 07:06:43 PM
 #27

The biggest issue of altcoins is usability.... They come and go. Right now, the ICO trend is fast catching in the alt ann section. But some do have real live use, like PLUTUS...

For more info, check this thread

https://bitcointalk.org/index.php?topic=1521838.0

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July 15, 2016, 03:50:33 AM
 #28

I have to give two:

1. Usability - I still think cryptos (including BTC) are way too complex and insecure for public consumption. Backing up wallets? WTF?? Are we mad??? Only geeks who wanna make money hunt this stuff out.
2. The blockchain itself - How large will all these blockchains be in 10 years? How long will it take to download for a new client. I hope a solution is on the way otherwise we'd all best get rid of that pretentious word "decentralized" and have the blockchain sitting out there on dedicated servers while we just sync our clients with them (like NTP).

Actually I'll make it three
3. The jargon - There's too much of it and the consumer don't care. Too many people in crypto expect consumers to learn all about crypto. They don't care. They just want it to work and they want their money to be safe. We need to get real.

Ya you are right.

I see many "biggest issues"

..not sure i could narrow it down because Crypto has so many problems.
A good step is bringing the issues forward.. then maybe we can get solutions.

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July 15, 2016, 04:18:28 AM
 #29

The biggest problem?  Most altcoins have absolutely no reason to exist and are destined to end up in the yobit graveyard.   Most people aren't going to use bitcoin, much less trumpcoin.  That's how I see it.

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July 15, 2016, 06:52:00 AM
 #30

There are 2 main problems.
1. People.
2. Adoption.

If people "invest" in projects, which are active for quite some time, and stop thinking only about fiat (or BTC) they could earn, then we can have better adoption (and less shitcoins). There are many ideas with their own niche and a lot of coins (or whatever) can find theirs (even if they are still 100s left). After all, the Earth is populated with more than 7.4 billion people.

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