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Author Topic: [FACTS] Secrets To Altcoin Adoption  (Read 319 times)
Spoetnik
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January 19, 2017, 07:40:22 AM
 #1

Lets have a stab at this issue.. adoption of Altcoins.

What is the measuring stick of all Altcoins with the majority ? BITCOIN !

What got BTC popular and up to a $1,000 per coin ?
Well we have to look at what type of user base was involved..

BTC's user base was traditionally the more advanced tech nerd on the web like myself.
Bitcoin did not get to 1k because of my Grandma.
It was ex-Financial world guys.. Silk Road guys and various web nerds and coders etc.
Anything but the average person out there !

So now we have Altcoins..
They all want to achieve adoption levels but they target a different demographic most of the time.
Superficial Twitter or Facebook campaigns or posting silly shallow nonsense on Bitcointalk etc.

To me i don't see the Altcoin world appealing to the intelligent of the world.
They are appealing to naive gullible and greedy Millennial kids usually.
Hoping to hit the trendy crowd with a Doge meme or something.

And if it does WORK ? look what you get !
I recall clearly seeing the fans of Doge coin running across the internet spamming like idiots about Doge coin in "Doge speak" (on non-crypto sites) like idiots claiming it would over take Bitcoin's market cap etc real soon.
In other words lying their ass off and spamming the web like brats.

Did it work ?

Nope, all it did was lure in a few more STUPID greedy useless worthless brats.

And you may be one of them i am talking to hear but you all can change Wink
You don't HAVE to be dumb LOL

You all hope one day the Grandma's and Grandpa's will be using Monero ?
Well what do we see in the computer tech world ?

Pandering !
Everything from OS GUI's to web sites and services are dumbed down to the point where they are crippled.
Is creating a fancy wallet Ui going to get people involved ?
Attract trendy millennial hipsters on purpose ?

I don't know but i hope i can get you all thinking in a new direction.
I hope 2017 is a year of change.
I hope it's a year where we take stock and re-asses where we are going.

I think it's time to look at what we have been doing for years and be honest and decide if it's really working.
If NOT ?
Then maybe's it's time for change.

A currency not adopted and used is.. not a currency.

PS:
This is not a self-moderated censored topic like ALL the ANN's here so say what you want.

And what got me thinking about this ?
The 1 line comment by Qwizzie saying no fighting over the 3 year Dash b-day cake picture he posted.
I was thinking history is what it is..
User showing up smart or dumb will see it all.. all the past drama & fighting etc.

So the TECH itself better be solid (and the initial distribution better be rock solid)
And what new user showing up would care to even check ? Smart people not kids buying what ever 3 letter codes on Poloniex fer the ROI'z.

It may very well be many of these coins you all love to support so damn much here are utterly doomed to failure forever.

We are all a Crypto family here and it's not about winning fights but simply moving forward.. together.

FUD first & ask questions later™
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January 19, 2017, 08:00:32 AM
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Still at it.. why don't you spend your time actually building something and taking a chance to make an actual impact?

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Spoetnik
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January 19, 2017, 11:14:05 AM
 #3

Still at it.. why don't you spend your time actually building something and taking a chance to make an actual impact?

I have made more of an impact that anyone in the Altcoin scene.
And you said you left way back.. change your mind ?

And what would i "make".

The only work to be done is a possible improvement on initial distribution and adoption.
Hence the topic..

No one had found a better way to distribute coins than Bitcoin.
yet the popular way to do it is with scammy ICO's ?

Make something ? i will get right on that.. ANN topic 6,001 coming up !  Cheesy

PS:
I had made shit before.. a slew of different miners for example.
Forget about my JPC miner Spots ?
You ? Want me to go there ? LOL

Some of you are just jealous i am a household name and you are NOT.  Cool

I am the only one here talking honestly with out having a financial agenda hiding bags behind my back and a long history of making shitcoins.

FUD first & ask questions later™
dinofelis
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January 19, 2017, 12:28:43 PM
 #4

Bitcoin has almost no adoption either.  The $1000,- like price comes from greater-fool-game players, but that is not adoption, simply a speculative bubble.  For how much goods and services do you buy in bitcoin every month ?  That's adoption.  There's almost none.  The "adoption" price of bitcoin must be at most a few tens of $.

But you are right about the distribution.  That is because bitcoin was not serious and a toy thing for the first few years, and it got distributed as it wasn't worth anything.  This is why alts should fork off bitcoin instead of making a new genesis block.
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January 19, 2017, 12:43:55 PM
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Bitcoin has almost no adoption either.  The $1000,- like price comes from greater-fool-game players, but that is not adoption, simply a speculative bubble.  For how much goods and services do you buy in bitcoin every month ?  That's adoption.  There's almost none.  The "adoption" price of bitcoin must be at most a few tens of $.

But you are right about the distribution.  That is because bitcoin was not serious and a toy thing for the first few years, and it got distributed as it wasn't worth anything.  This is why alts should fork off bitcoin instead of making a new genesis block.


that is how crypto currencies work and will always work. they will always be treated as an investment and then a currency. that is why bitcoin is mostly traded and price is like this, and that is true about other currencies too. fiat is no exception for the trading game.

but bitcoin has more adoption that you can think. you should take a look around and see where it is accepted and you can spend it at and you can see the adoption and its growth.

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January 19, 2017, 01:01:00 PM
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that is how crypto currencies work and will always work. they will always be treated as an investment and then a currency. that is why bitcoin is mostly traded and price is like this, and that is true about other currencies too. fiat is no exception for the trading game.

This is clearly not the case for fiat.  Fiat's price is mainly sustained by demand for usage.  It are not the forex markets that determine the price of a fiat currency, it is the economy that uses it, that determines the bulk of its usage and also its market cap.

Quote
but bitcoin has more adoption that you can think. you should take a look around and see where it is accepted and you can spend it at and you can see the adoption and its growth.

I would gladly see something about that in fact.  I had seen some (somewhat old) estimates of usage of bitcoin to buy stuff, and that was pretty small compared to the trading volumes on exchanges.  
This is the difference with fiat: the volumes in the economy are way larger than the volumes on speculative exchanges.  People don't buy fiat and hoard it with the sole expectation that it will "raise in value" (it won't).  They "hoard" it only if it has its function as a currency, between earning and spending, and not for expected speculative returns.

For sure, true bitcoin usage already has to be on the block chain.  Most transaction volume today is not even on chain, but between accounts on exchanges.  

If you look at https://blockchain.info/en/charts/trade-volume
you see that the daily *block chain* volume is of the order, roughly, of $20 million per day.
On coinmarketcap.com, the indicated volume is more than $100 million a day.  This means that the off-chain trading is already 5 times higher than what is on the block chain, and what is on the block chain is also not entirely (far from it!) "currency adoption".

If you look at bitpay, a year ago they were around a volume of about $1 million a day (and they are normally the biggest).  Cashila in Europe has, all included, processed about 12 million Euro.  The "biggest European bitcoin payment processor", Conify, I don't know how much they handle, you can't find it on their website.

As bitcoin's economy is not closed, bitcoin payment processors are an indication of the actual "currency" volume in bitcoin.  It will not be more than a few million $ a day.  That's A FEW PERCENT of the trading volumes for speculative purposes.

As such, the actual market cap sustained by "adoption" (that is, currency usage), should also not be much more than a few percent of the actual market cap.  Which brings bitcoin's actual adopted price in the range of a few tens of dollars.

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January 19, 2017, 08:31:04 PM
 #7

Bitcoin has almost no adoption either.  The $1000,- like price comes from greater-fool-game players, but that is not adoption, simply a speculative bubble.  For how much goods and services do you buy in bitcoin every month ?  That's adoption.  There's almost none.  The "adoption" price of bitcoin must be at most a few tens of $.

But you are right about the distribution.  That is because bitcoin was not serious and a toy thing for the first few years, and it got distributed as it wasn't worth anything.  This is why alts should fork off bitcoin instead of making a new genesis block.


WOW you are a broken record Dino.
Who is talking about Bitcoin and how it's as bad as Altcoins ?
Jesus you guys play that card non stop harping and harping and harping endlessly how Bitcoin is ohhhh so bad.
..in defense of some fucking retarded WORSE shitcoins (that came out afterwards ripping off open source bitcoin code)
FOR PROFITS ROFL

Gimme a break.  Roll Eyes

And if it is being used as a currency then it is in fact adopted Dino.
For example The Pirate Bay has a donation address on every web page.
That is adoption and no other coin has that.
BTC has more adoption than altcoins combined.

If your little goal is to pretend Altcoins are close adoption wise then you FAIL hard.

They have done fuck all.



EDIT:

@Dino
I said earlier.. the obvious.
BTC has a high price compared to Altcoins and the majority use it as the measuring stick.
So you show up trying to pick at BTC denying it.

BTC is better.
BTC does have better adoption.

So i have no bloody clue what you thought you were arguing here when you posted.
Can you name 1 Altcoin that can contest Bitcoin in ANY area ?

FUD first & ask questions later™
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January 19, 2017, 08:35:37 PM
 #8

WBB apparently has biz contracts signed and when the rebrand/rename in coming 8-12wks or so, we'll see an actual altcoin have become a true business ecosystem AND be used by actual companies.  Cool

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