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Author Topic: It can't be bitcoin for much longer  (Read 2982 times)
SeanArce
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November 21, 2013, 06:04:32 AM
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2 or three currencies will dominate before people start fully accepting crypto

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November 21, 2013, 06:05:47 AM
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I don't get the thread? What do you mean?

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November 21, 2013, 06:06:28 AM
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2 or three currencies will dominate before people start fully accepting crypto

Nah, dude.  Once you go crypto, you never go back!

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
SeanArce
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November 21, 2013, 07:15:27 AM
 #4

2 or three currencies will dominate before people start fully accepting crypto

Nah, dude.  Once you go crypto, you never go back!

that's not what I mean. I mean bitcoins too much of a beast that can't be handled for much longer. The bigger they are, they harder they fall. A new alt coin will be it's successor. and then that will grow like a cancer, then another one will take it's place. Until the general population gives way for crypto to be stabalized

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November 21, 2013, 07:17:06 AM
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2 or three currencies will dominate before people start fully accepting crypto

Nah, dude.  Once you go crypto, you never go back!

that's not what I mean. I mean bitcoins too much of a beast that can't be handled for much longer. The bigger they are, they harder they fall. A new alt coin will be it's successor. and then that will grow like a cancer, then another one will take it's place. Until the general population gives way for crypto to be stabalized

Oh, yeah.  That's exactly how network effects work.  The network grows so big that the heart can't pump the blood to the brain anymore....

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 21, 2013, 07:26:58 AM
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See network effect.
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November 21, 2013, 08:52:25 AM
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Maybe, however a lot of people are trusting btc so it will continue to grow.

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November 21, 2013, 09:19:15 AM
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that's not what I mean. I mean bitcoins too much of a beast that can't be handled for much longer. The bigger they are, they harder they fall. A new alt coin will be it's successor. and then that will grow like a cancer, then another one will take it's place. Until the general population gives way for crypto to be stabalized

Indeed. Everyone screams "network effect!" without realizing that Ripple has already to a large extent solved the transparent exchange UX problem, and that holding even thousands of currencies in the future won't be such a big deal. 100% in agreement that Bitcoin is not the final frontier by any stretch.

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Laosai
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November 21, 2013, 09:24:21 AM
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Litecoin will dominate too !

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November 21, 2013, 09:48:28 AM
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that's not what I mean. I mean bitcoins too much of a beast that can't be handled for much longer. The bigger they are, they harder they fall. A new alt coin will be it's successor. and then that will grow like a cancer, then another one will take it's place. Until the general population gives way for crypto to be stabalized

Indeed. Everyone screams "network effect!" without realizing that Ripple has already to a large extent solved the transparent exchange UX problem, and that holding even thousands of currencies in the future won't be such a big deal. 100% in agreement that Bitcoin is not the final frontier by any stretch.
It doesn't follow that because you have frictionless transfer between two assets, the two assets do an equally good job of transferring purchasing power across time.  All else being equal, you use the more liquid one for that.  That's why the equilibrium is to converge on a single standard.
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November 21, 2013, 09:52:32 AM
 #11

2 or three currencies will dominate before people start fully accepting crypto


Isn't that what is really happening right now , with the usd/euro/yen.
Also the title is a bit misleading , reading through your post.


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November 21, 2013, 12:28:22 PM
 #12

Litecoin will dominate too !

maybe ;-)

but i dont think that bitcoin gets replaced anytime soon. its a piece of software. i can change. its the honey badger of the currency world ;-)

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November 21, 2013, 12:48:40 PM
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bitcoin , litecoin and maybe a 3rd will be the top coins for years.

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November 21, 2013, 12:54:29 PM
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It doesn't follow that because you have frictionless transfer between two assets, the two assets do an equally good job of transferring purchasing power across time.  All else being equal, you use the more liquid one for that.  That's why the equilibrium is to converge on a single standard.

Why, and why not? We are not economists nor currency experts, so interested in the real reasons that this may be true.

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November 21, 2013, 01:02:53 PM
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I've invested into 3 Cryptocurrencies, a nice healthy portfolio  Cheesy

Bitcoin will show the world what hard money really is.
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November 21, 2013, 01:40:23 PM
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Good luck getting the general public to understand and be interested in another cryptocurrency, let alone build up an infrastructure around it as it's currently happening around Bitcoin at a fast pace. It will take a long time before Bitcoin gets replaced by another cryptocurrency and it will need to have significant benefits over Bitcoin, similar to the benefits Bitcoin has to traditional payment methods today.
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November 21, 2013, 02:50:11 PM
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It doesn't follow that because you have frictionless transfer between two assets, the two assets do an equally good job of transferring purchasing power across time.  All else being equal, you use the more liquid one for that.  That's why the equilibrium is to converge on a single standard.

Why, and why not? We are not economists nor currency experts, so interested in the real reasons that this may be true.

Silly boy.  Just because you are no expert, doesn't follow that there are no experts on this forum.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 21, 2013, 02:53:13 PM
 #18

Litecoin is the other, but Bitcion will dominate.
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November 21, 2013, 03:37:51 PM
 #19

If you are someone that is heavily invested in Alt coin I can see where you would like to see other coins grow with or with out the demise of Bitcoin.  That doesn;t mean it will or won't.

Your network is too big idea,  consider the Internet and it's growth.  :-) 

Or adoption of Radio / TV and telegraph.

The adoption of water, rail or air travel.

The publication of books.

We have a long ways to go.  things can grow large and to levels never before thought possible.

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November 21, 2013, 03:58:40 PM
 #20

We have worked with many E-currencies in the past and each one satisfied a specific market. Bitcoin is a new e-currency and it satisfies a specific market. Therefore, other ecurrencies will emerge only to fit the needs of the community that uses that ecurrencies.

Here at forex-metal.com, we are considering implementing other e-currencies such as Litecoin. We would like to hear about what the bitcoin community thinks of this e-currency. If there is a sufficient market for it then there's a big chance we might implement it.

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