Time to kick-off Bitcoin2?

[wingding]

The price of Bitcoins is starting to show all signs of a bubble. I believe that a currency doubling in value each second month lacks the thrustworthiness to become a substantial currency. Another problem is the uneveness of distribution: If a handful of people holds a significant percentage of the whole moneysupply, the stability of the of the price and moral consent is both at risk. No, its not from jealousness - I've bought my Bitcoins already.

Is it not time to start Bitcoin2? (I presume it is technically achieveable..?) It would get a much broader start and not bear such likeness of lottery. And the rate of mining new coins shold be set to level of in much longer perspective, and for a much larger number. And some smart way of exchange between the old and new Bitcoin.

[1714047628]

1714047628

[greyhawk]

Is it not time to start Bitcoin2?

Go right ahead.

[Matthew N. Wright]

And some smart way of exchange between the old and new Bitcoin.

Bitcoin is a zero-sum vehicle whose spot price is derived entirely from speculation. If it were centralized, transferring said value from one vehicle to the next would be easy. Since it is decentralized, every single bitcoin holder, miner and user would need to agree.

[nameface]

Is it not time to start Bitcoin2?

Go right ahead.

+1
Op, there are a plethora of wannabe bitcoins called Alternative Cryptocurrencies https://bitcointalk.org/index.php?board=67.0
The more you learn about them, the more you'll support bitcoin.

But I agree that more currencies could be useful, because they can have different properties than bitcoin.

[Un zafado cualquiera]

the only current crypto-currencies really valuable right now are ripples, namecoin and our bitcoins. these are the only with a defined purpose and usefulness.

[crazy_rabbit]

The price of Bitcoins is starting to show all signs of a bubble. I believe that a currency doubling in value each second month lacks the thrustworthiness to become a substantial currency. Another problem is the uneveness of distribution: If a handful of people holds a significant percentage of the whole moneysupply, the stability of the of the price and moral consent is both at risk. No, its not from jealousness - I've bought my Bitcoins already.

Is it not time to start Bitcoin2? (I presume it is technically achieveable..?) It would get a much broader start and not bear such likeness of lottery. And the rate of mining new coins shold be set to level of in much longer perspective, and for a much larger number. And some smart way of exchange between the old and new Bitcoin.

fork what ever you want to fork. May the blockchain be with you and your merkle roots ever hashable.

[nwbitcoin]

You could save time and just buy and market litecoins?

[Come-from-Beyond]

The price of Bitcoins is starting to show all signs of a bubble.

Even if it's a bubble I think it's safe to buy coins for up to 90$ per one.

[matauc12]

Its amazing how retarded a nerd community can be.

[Mike Christ]

I believe that a currency doubling in value each second month lacks the thrustworthiness to become a substantial currency

And so ThrustCoin was born, the coin that is thrustworthy.

[FuzzyBear]

Its amazing how retarded a nerd community can be.

Retnertarded new addition for the urban dictionary me thinks

[nwbitcoin]

Its amazing how retarded a nerd community can be.

LOL! +1

 

[Walter Rothbard]

The price of Bitcoins is starting to show all signs of a bubble. I believe that a currency doubling in value each second month lacks the thrustworthiness to become a substantial currency. Another problem is the uneveness of distribution: If a handful of people holds a significant percentage of the whole moneysupply, the stability of the of the price and moral consent is both at risk. No, its not from jealousness - I've bought my Bitcoins already.

Is it not time to start Bitcoin2? (I presume it is technically achieveable..?) It would get a much broader start and not bear such likeness of lottery. And the rate of mining new coins shold be set to level of in much longer perspective, and for a much larger number. And some smart way of exchange between the old and new Bitcoin.

There are already several altcoins.  I think TerraCoin fits the bill you are looking for very easily, and there are plenty of reasonably easy ways to exchange.  Another altcoin might also work just as well.

[Un zafado cualquiera]

Probably caused or exacerbated by (a) above, I've identified what appear to be several gaps in the design:
b) fee policy: most of the developers seem to treat 'fees' as if they're just an anti-DOS measure, and that when mining subsidies get smaller, a "Socialist" model will keep working. In other words, "fees should be something really small like <0.00001BTC to prevent spam, and if more block space is required, we'll give them more block space". That attitude shows a complete lack of understanding basic Economics.

sooo, you really think economics is an exact science...

cuu,cuu...

[chriswen]

yeah it would be cool if you got something for running a  full client.

[Walter Rothbard]

Probably caused or exacerbated by (a) above, I've identified what appear to be several gaps in the design:
b) fee policy: most of the developers seem to treat 'fees' as if they're just an anti-DOS measure, and that when mining subsidies get smaller, a "Socialist" model will keep working.

I have yet to see developers advocate a "socialist" model for mining.  I really don't think there's a lot of adherents of socialism in the upper echelons of Bitcoin.  I could be wrong.

[logicbomb666]

the only current crypto-currencies really valuable right now are ripples, namecoin and our bitcoins. these are the only with a defined purpose and usefulness.

litecoin is over 4x more valuable than namecoin.  Am I missing something here?  Or is it you think litecoin doesn't have a defined purpose/usefulness?

[Un zafado cualquiera]

Probably caused or exacerbated by (a) above, I've identified what appear to be several gaps in the design:
b) fee policy: most of the developers seem to treat 'fees' as if they're just an anti-DOS measure, and that when mining subsidies get smaller, a "Socialist" model will keep working.

I have yet to see developers advocate a "socialist" model for mining.  I really don't think there's a lot of adherents of socialism in the upper echelons of Bitcoin.  I could be wrong.

Probably not consciously, no. But when fees are described as "just an anti-spam measure" and some people suggest drastically increasing the block capacity so there's "enough transaction space for everyone", one begins to wonder...

sooo, you really think economics is an exact science...

cuu,cuu...

I never suggested that. But I'm glad you brought it up because despite not being an exact science, economic theories can provide some good models for crowd behaviour. Similarly, an ideal gas isn't an exact model of real gases, but it would be silly to attempt a simulation of millions of individual gas atoms without at least considering the simplified model first. Even worse, it would be really naive to have no idea what is likely to happen to the temperature of a gas when it is compressed because, you know, real gases are not ideal and therefore the "ideal gas" model was rejected out-of-hand.

i think you made a pair of good points, but if you can trust math with a bunch of people, seriously you need a doctor. people often violated all rules of economics and you think is a valid approach. see 2008 economics crash.

[helloworld]

the only current crypto-currencies really valuable right now are ripples, namecoin and our bitcoins. these are the only with a defined purpose and usefulness.

litecoin is over 4x more valuable than namecoin.  Am I missing something here?  Or is it you think litecoin doesn't have a defined purpose/usefulness?

Namecoin doesn't get much press that's for sure. Is it's userbase growing or shrinking?

[Un zafado cualquiera]

namecoin, even if is not popular, promotes decentralization of DNS. litecoin is just a copy of Bitcoin.
ripple goes a bit too far doing a potential Facebook killer. Even with the premined XRP, it has possibilities.