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Author Topic: where does BTC stand in terms of features in comparison to other altcoins  (Read 356 times)
GiorgosK
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September 13, 2017, 11:56:38 AM
 #1

I was wondering if there has been developed or planned any of the features that the other altcoins are doing

for example
smart contracts ?
decentralized exchanges ?
sidechains ?
etc

I am curious as to whether these solutions are being developed or planned at least

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EllaPonchik
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September 14, 2017, 04:21:23 PM
 #2

It stands at the very first place for the next 5 years exactly, and after 5 years, depending on other projects, it may be one of the last.

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September 14, 2017, 04:51:26 PM
 #3

Bitcoin just rejected a fork that would allow 4x more transaction volume.

The appeal of Bitcoin is that it will never change since it has been unchanging for years.  This gives investors a sense of certainty, comfort, and security.

Other altcoins that introduce continuous upgrades are risky because the change might be for the worse.

Bitcoin is not broke, therefore, why would anyone want to fix it?

So, no, bitcoin will not change because that in itself is the appeal of bitcoin to new investors.

Good old bitcoin is clarity and certainty

I see some of your points and why its not broke but like all things in life evolve this wants to stay stale ?
I don't get it ...
is that the view of the majority of bitcoin holders ?

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hich_ang
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September 14, 2017, 05:15:45 PM
 #4

I see bitcoin as payment mode stronger than other altcoins and bank system. For the other features you can use the altcoin that fill with what you want.
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September 14, 2017, 05:21:07 PM
 #5

Most altcoins are clones of others. However, come have unique features which makes them stand out for the rest, and generally these will be more popular and stand the test of time whereas clones are pump-and-dumps and die quickly.

With that said, coins such as: Monero, Litecoin, Ethereum, IOTA and more have great technological innovations over Bitcoin, which has helped them become so popular compared to clone alts. However, thus far none of them except debatably ETH have been able to challenge BTC.


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September 14, 2017, 05:30:36 PM
 #6

Smart contracts will come through Rootstock. We may also have more anonymity, through MimbleWimble.

In terms of development and decentralization, Bitcoin is already the number one.
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September 14, 2017, 05:33:03 PM
 #7

I see bitcoin as payment mode stronger than other altcoins and bank system. For the other features you can use the altcoin that fill with what you want.
I think that the purpose of Bitcoin is so that people can spend their money anywhere in the world. Sending money online to another person with the same payment processor can be really expensive, that doesn’t include if the payment processor needs a transfer to a different one as well.
Bitcoin is a coin that could be used to send things online at a faster pace compared to the other payment processor so it would make some sense to think that people would use Altcoins to send cheaper transactions?
I guess it depends on what the user wants and how that person issues a transaction.

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GiorgosK
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September 15, 2017, 06:18:30 AM
 #8

I see bitcoin as payment mode stronger than other altcoins and bank system. For the other features you can use the altcoin that fill with what you want.
I think that the purpose of Bitcoin is so that people can spend their money anywhere in the world. Sending money online to another person with the same payment processor can be really expensive, that doesn’t include if the payment processor needs a transfer to a different one as well.
Bitcoin is a coin that could be used to send things online at a faster pace compared to the other payment processor so it would make some sense to think that people would use Altcoins to send cheaper transactions?
I guess it depends on what the user wants and how that person issues a transaction.


But already on the second post the poster said that the community turned down a fork that would make speed of transactions 4x the current one
how is that going to help with mass adoption which I believe is something that the community wants ?

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September 19, 2017, 08:34:15 AM
 #9

I see bitcoin as payment mode stronger than other altcoins and bank system. For the other features you can use the altcoin that fill with what you want.
I think that the purpose of Bitcoin is so that people can spend their money anywhere in the world. Sending money online to another person with the same payment processor can be really expensive, that doesn’t include if the payment processor needs a transfer to a different one as well.
Bitcoin is a coin that could be used to send things online at a faster pace compared to the other payment processor so it would make some sense to think that people would use Altcoins to send cheaper transactions?
I guess it depends on what the user wants and how that person issues a transaction.


But already on the second post the poster said that the community turned down a fork that would make speed of transactions 4x the current one
how is that going to help with mass adoption which I believe is something that the community wants ?
Honestly friend, this is the perfect move for the present. It is the need of the time to give investors a feel of security and certainty of profits. If the core succeeds in this, definitely they are not going to reject the LN forever. With the increasing transaction, they will introduce new technology also.

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September 21, 2017, 06:42:33 AM
 #10

I see bitcoin as payment mode stronger than other altcoins and bank system. For the other features you can use the altcoin that fill with what you want.
I think that the purpose of Bitcoin is so that people can spend their money anywhere in the world. Sending money online to another person with the same payment processor can be really expensive, that doesn’t include if the payment processor needs a transfer to a different one as well.
Bitcoin is a coin that could be used to send things online at a faster pace compared to the other payment processor so it would make some sense to think that people would use Altcoins to send cheaper transactions?
I guess it depends on what the user wants and how that person issues a transaction.


But already on the second post the poster said that the community turned down a fork that would make speed of transactions 4x the current one
how is that going to help with mass adoption which I believe is something that the community wants ?
Honestly friend, this is the perfect move for the present. It is the need of the time to give investors a feel of security and certainty of profits. If the core succeeds in this, definitely they are not going to reject the LN forever. With the increasing transaction, they will introduce new technology also.
Well according to the first poster it seemed like they would always hold back and not accept the LN.  But your point of you is more in line with mine. I hope so because not having enough transaction throughput its going to be a big obstacle to mass adoption.

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September 21, 2017, 07:00:37 AM
 #11

Most altcoins that promise unique new features usually still on early stages of development and the features themselves are highly experimental. Bitcoin network cant afford to do such experiments because its core values are security, stability and decentralization. So, altcoins are the playing ground, since no one would bat an eye if some of many coins will fail, while technical problems with Bitcoin would hurt the whole crypto ecosystem. But it doesn't mean that there will be no features at all, they are just mostly developed as second layer that doesn't need any changes to the first level - for example, Lightning Network and RootStock.

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September 21, 2017, 07:03:20 AM
 #12

Most altcoins actually have a technological advantage over Bitcoin. The successful ones do anyways. This is why some people are skeptical of Bitcoin's future. It isn't that Bitcoin isn't unique because it is, but there are better possible ways to make a crypto than Bitcoin... heck even Bitcoin Cash has advantages over it. I am just worried it might become the MySpace of the crypto world and another complete coin will take it over (like Facebook did to MySpace).


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September 21, 2017, 07:23:41 AM
 #13

bitcoin is a currency, a currency does not need "features" like what you are suggesting. what bitcoin has are good and enough.
things such as smart contracts and decentralized exchanges and side-chains are additional or bonus things that can be added to bitcoin anytime there is a demand for it. and so far there really has not been any demand for smart contracts expect for ICO scamming, no demand for decentralized exchanges because people prefer the options centralized ones offer and side-chains are not favorable over on-chain transactions.

but each of these have a project already like rootstock for smart contracts on bitcoin or Lightning Network for side-chains.

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September 21, 2017, 02:40:59 PM
 #14

it's all been designed but it takes a long time, after all not all coin that can last long. new altcoins are mostly lost, they can not survive like BTC, ETH, BCH and others.

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September 21, 2017, 06:13:02 PM
 #15

Most altcoins actually have a technological advantage over Bitcoin. The successful ones do anyways. This is why some people are skeptical of Bitcoin's future. It isn't that Bitcoin isn't unique because it is, but there are better possible ways to make a crypto than Bitcoin... heck even Bitcoin Cash has advantages over it. I am just worried it might become the MySpace of the crypto world and another complete coin will take it over (like Facebook did to MySpace).
Razick I agree that some coins PROMISE more technological advantages but have not proven or have anything ready yet who can deliver faster only time will tell

bitcoin is a currency, a currency does not need "features" like what you are suggesting. what bitcoin has are good and enough.
things such as smart contracts and decentralized exchanges and side-chains are additional or bonus things that can be added to bitcoin anytime there is a demand for it. and so far there really has not been any demand for smart contracts expect for ICO scamming, no demand for decentralized exchanges because people prefer the options centralized ones offer and side-chains are not favorable over on-chain transactions.

but each of these have a project already like rootstock for smart contracts on bitcoin or Lightning Network for side-chains.

Yes I saw after another poster mentioned rootstock and other projects being built.  The only problem I see for bitcoin is that its wasting too much energy just to keep the network going
(I know lots of people will scream at me for saying this)

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