How to avoid BTC booming too fast? (like the housing bubble?)

[cr1776]

Please show mathematical or historical evidence that the Bitcoin economy booming would be a bad thing.

Yeah.  And is this a booming price?  Booming usage?  Booming mining? 

[mufunka]

I would prefer a slow steady growth. I have all the booming/crashing i need in the alt markets

[yogi]

Increased use will lead to higher transaction fees and slow the rate of adoption.

[Interized]

Increased use will lead to higher transaction fees and slow the rate of adoption.

Will this be like the housing bubble?

[Lethn]

Increased use will lead to higher transaction fees and slow the rate of adoption.

Will this be like the housing bubble?

You don't know what a housing or general economic bubble is do you?

[minerva]

We need to hardfork and boost the block reward.

[laowai80]

Alt-coins will take care of the booming too fast issue.

[black_swan]

We need to hardfork and boost the block reward.

Yeah best idea ever.
Why don't we push the limit from 21M to 21 billions as well, there are not enough coins for everybody right?
This was sarcastic, if it wasn't clear.

[Interized]

Alt-coins will take care of the booming too fast issue.

Alt coins won't survive. Bitcoin can identify problems and create fixes faster than any government or business can keep up with.

[laowai80]

Alt coins won't survive.

why?

they're surviving alright, get out from under your rock and have a look

[Interized]

Alt coins won't survive.

why?

they're surviving alright, get out from under your rock and have a look

At one point I had over 3000 LTC when it wasn't worth anything, believe me, I know.

Alt systems are just acting as a ponzi, all dumb money.

If anything forks will be created within Bitcoin itself to solve an issue people aren't sure of.

[laowai80]

At one point I had over 3000 LTC when it wasn't worth anything, believe me, I know.

Alt systems are just acting as a ponzi, all dumb money.

If anything forks will be created within Bitcoin itself to solve an issue people aren't sure of.

So you say you had 3000 LTC, meaning you made a mistake selling them before they appreciated. Why would anyone believe you then and what exactly do you know since you didn't know to keep your LTCs and sold too early? LTC seems to be doing fine, is it because you sold too early and now biting your elbows for that you wish death for alt-coins? They wouldn't care about that, they'll keep surviving and diluting bitcoin value. Because technically they are equal to bitcoin, they only lack in infrastructure, but that's just a matter of time. Not all alt-coins will survive, only those that have serious devs and community behind them, but for sure bitcoin won't be the only game in town.

[Interized]

At one point I had over 3000 LTC when it wasn't worth anything, believe me, I know.

Alt systems are just acting as a ponzi, all dumb money.

If anything forks will be created within Bitcoin itself to solve an issue people aren't sure of.

So you say you had 3000 LTC, meaning you made a mistake selling them before they appreciated. Why would anyone believe you then and what exactly do you know since you didn't know to keep your LTCs and sold too early? LTC seems to be doing fine, is it because you sold too early and now biting your elbows for that you wish death for alt-coins? They wouldn't care about that, they'll keep surviving and diluting bitcoin value. Because technically they are equal to bitcoin, they only lack in infrastructure, but that's just a matter of time. Not all alt-coins will survive, only those that have serious devs and community behind them, but for sure bitcoin won't be the only game in town.

This goes back to the ponzi effect.

Litecoin has no other purpose but to store fictional value until it is depleted and taken over by the most powerful currency system in which will be Bitcoin or government money.

Multiple currencies cannot continue to exist, or stability issues will continue to arise within all value systems.

[laowai80]

Litecoin has no other purpose but to store fictional value

How is bitcoin different? 1 transaction per second in bitcoin network for the whole world - it's nothing, it's zero, nada, can safely say nobody is transacting in bitcoin yet. compare it with thousands of transactions per second for visa/mastercard.

And can you define fictional and non-fictional value please, that'd help a lot in the discussion.

Multiple currencies cannot continue to exist, or stability issues will continue to arise within all value systems.

Why? They always did through history of mankind, they will always do. Just on another, digital crypto level this time.

[Interized]

Litecoin has no other purpose but to store fictional value

How is bitcoin different? 1 transaction per second in bitcoin network for the whole world - it's nothing, it's zero, nada, can safely say nobody is transacting in bitcoin yet. compare it with thousands of transactions per second for visa/mastercard.

And can you define fictional and non-fictional value please, that'd help a lot in the discussion.

Take a look at this chart here:

http://www.activistpost.com/2013/11/bitcoin-tops-paypal-for-first-time-in.html

Every other "system" beside Bitcoin is just echoing across all "systems" they all effect and link to each other giving them a better appearance to the public eye.

Whenever someone suggests to invest or use a Alt currency, Bitcoin is always mentioned as the first, original inspirational solid argument to back another system up.

Bitcoin is here to destroy the fantasy that we can exist in a world with multiple value systems.

Only one final currency system will exist in the future.

[laowai80]

Take a look at this chart here:

http://www.activistpost.com/2013/11/bitcoin-tops-paypal-for-first-time-in.html

Every other "system" beside Bitcoin is just echoing across all "systems" they all effect and link to each other giving them a better appearance to the public eye.

Whenever someone suggests to invest or use a Alt currency, Bitcoin is always mentioned as the first, original inspirational solid argument to back another system up.

Bitcoin is here to destroy the fantasy that we can exist in a world with multiple value systems.

So what, that Bitcoin is always mentioned as the first? It's just a matter of time that people who seriously want to invest into Bitcoin do their research and realize there are others, technically equal to Bitcoin. Do you think smart money are stupid and will be buying into overvalued assets, whereas they could invest in undervalued and get much more ROI? Even if they invest 90% into bitcoin and 10% into 2-3 alt-coins (which they will do because diversifying risk is Investing 101 lesson #1), those alt-coins will still appreciate faster than bitcoin because they are so much undervalued.

Only one final currency system will exist in the future.

It's never been like that in the history of mankind and it will never be, because humans never change.

[Interized]

Take a look at this chart here:

http://www.activistpost.com/2013/11/bitcoin-tops-paypal-for-first-time-in.html

Every other "system" beside Bitcoin is just echoing across all "systems" they all effect and link to each other giving them a better appearance to the public eye.

Whenever someone suggests to invest or use a Alt currency, Bitcoin is always mentioned as the first, original inspirational solid argument to back another system up.

Bitcoin is here to destroy the fantasy that we can exist in a world with multiple value systems.

So what, that Bitcoin is always mentioned as the first? It's just a matter of time that people who seriously want to invest into Bitcoin do their research and realize there are others, technically equal to Bitcoin. Do you think smart money are stupid and will be buying into overvalued assets, whereas they could invest in undervalued and get much more ROI? Even if they invest 90% into bitcoin and 10% into 2-3 alt-coins (which they will do because diversifying risk is Investing 101 lesson #1), those alt-coins will still appreciate faster than bitcoin because they are so much undervalued.

Only one final currency system will exist in the future.

It's never been like that in the history of mankind and it will never will be, because humans never change.

Again, the Alt coins are acting as a Ponzi for dumb (or play?) money.

Nothing but a game with no real value behind the system but wasted computing resources.

[laowai80]

Again, the Alt coins are acting as a Ponzi for dumb (or play?) money.

Nothing but a game with no real value behind the system but wasted computing resources.

Again, how is Bitcoin different if nobody is transacting in it yet (I repeat - only 1 measly transaction per second for the entire planet in bitcoin network)?

What real value does it have?

Please, define 'real' and 'fictional' value, otherwise, we're just beating around the bush here.

[Interized]

Again, the Alt coins are acting as a Ponzi for dumb (or play?) money.

Nothing but a game with no real value behind the system but wasted computing resources.

Again, how is Bitcoin different if nobody is transacting in it yet (I repeat - 1 transaction per second for the entire planet in bitcoin network)?

What real value does it have?

Please, define 'real' and 'fictional' value, otherwise, we're just beating around the bush here.

Explain how people aren't transacting in it "yet".

[laowai80]

Explain how people aren't transacting in it "yet".

I did above.

People do 1 transaction per second in bitcoin network, whereas people do thousands transactions per second in visa/mastercard networks.

Meaning that bitcoin is carrying out just a store of value money function right now, not an exchange or trade goods and service for it functions.

Same goes for Litecoin, it's a store of value as of this time.

So how is BTC different from LTC?