fundamentals: buttercoin

[xxjs]

The advent of buttercoin is in my opinion one of the best fundamental movers now.

Buttercoin was on Bloomberg TV the other day, but it was better explained on Let's Talk Bitcoin (or was it Plan B). They supply a mostly complete exchange, all you need is basically a bank account and your own exchange name. They even supply seed liquidity, and all buttercoin exchanges in a country trade on the same order book.

[kehtolo]

I was personally worried about the advent of new altcoins coming in and taking over Bitcoins position, or doing it better than Bitcoin, thus erroding it's position, and eventually taking it's position.

Now i don't. There are too many small altcoins vying for a piece of the Bitcoin pie. Many have a twist or innovation on the Bitcoin idea.. and most seem designed to make their inventors rich (pre-mining etc.)

Having read article after article regarding these altcoins.. i'm now more convinced than ever, that none of these new copy coins, alt-coins or whatever you want to call them will take Bitcoin's no. 1 position.

Why?

It's too big. The rest are minisculle when compared to Bitcoin and have no real advantage over Bitcoin.

So, my prediction for this buttercoin? Terrible name! It will fail like most of the others. There are approx 6-7000 alt coins out there.. how many can you name?

How many of these altcoins combined would it take to even have 5% of Bitcoin market cap??

[kehtolo]

I stand corrected. Sorry, I jumped the gun there a little.

In principle it sounds like a great idea. And I would need to do more reading, but the first issue / question I would have is one of trust.

I mean, how much fiat money / bitcoin would you transfer to some exchange, set up by someone in your country only 5 mins ago?
It's hard to imagine volume in this case. But like i say, i need to read more about it.

[geofflosophy]

The advent of buttercoin is in my opinion one of the best fundamental movers now.

Buttercoin was on Bloomberg TV the other day, but it was better explained on Let's Talk Bitcoin (or was it Plan B). They supply a mostly complete exchange, all you need is basically a bank account and your own exchange name. They even supply seed liquidity, and all buttercoin exchanges in a country trade on the same order book.

I agree. It's also Y-Combinator backed (Coinbase is too), which gives it a lot of tech world credibility. Having the shared orderbook within a currency is super key.