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Author Topic: [2018-06-19] The difference between cryptocurrency and non-cryptocurrency  (Read 60 times)
S3cco
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June 19, 2018, 01:12:39 PM
 #1

Bitcoin Garden: Knowing the difference between cryptocurrency and non-cryptocurrency may avoid your from booby traps
https://bitcoingarden.org/knowing-the-difference-between-cryptocurrency-and-non-cryptocurrency-may-avoid-your-from-booby-traps/

Current situation on the digital currency market is both: extremely advanced and unbelievably comical. In short, incredible demand provokes the appearance of a great abundance of cheaters. In order to bring matters to a head, let’s contemplate on one very short example.

In some time, we’ll be passing through the period when fuel cars will no longer be in fashion because new models of electric vehicles will be much more efficient, that said faster and even cheaper. E-vehicles will be the new trend to which everyone would strive. By this time, you’ll be able to find a lot of market offers, when something quite distinct from an e-vehicle is presented as nothing more than it.

An old push-bicycle introduced as a ‘Tesla-killer’ is very similar to how many ‘enthusiasts’ today try to present something which is nowhere near cryptocurrency as the very one.

So, in today’s highly speculative market, one could either make a big time or fall very short of their expectations. Whilst the failure is mostly contingent on the lack of knowledge and a number of misconceptions about the concept of cryptocurrency. Let’s consider what’s what....


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June 19, 2018, 08:32:51 PM
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Been surprised reading up some links posted came from bitcoingarden but well going back into the topic on where with just a simple logic and a little bit mix of common sense we do able to spot out the difference. New innovations compared to traditional ones where there would be always things that would differ but we cant avoid the fact it would takes time to make such transition just like on the example being mentioned out.
For now if we do plan to engage into newer things then you should be sensible enough to know first about it not just carelessly jump in because of the hype.

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June 19, 2018, 10:58:03 PM
 #3

 A centralized currency or project could be considerate CRYPTOcurrency? It amazing me how many centralized projects exist on this date. It is probably more them the decentralized projects. Some of the biggest projects is centralized but intend to be total decentralized in their roadmaps. But others are just products of a company. If they are not decentralized and are products from a company they will fail. A centralized product will always be more scalable and cheaper them something on a blockchain.
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June 20, 2018, 11:20:24 AM
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 #4

A centralized product will always be more scalable and cheaper them something on a blockchain.

In that case they don't even need a blockchain but just a replicating database just like how RAID1 works, but then globally. The term blockchain is extremely hyped up and in most cases doesn't even bring that many advantages to centralized incentives. If you want to become hot and potentially worth more as business, jump into blockchain. It's a trend that the general public likes a lot.

Not sure how much valuable input it has since it only concerns some basic tests, but Western Union CEO pointed out that XRP isn't bringing any significant advantages and doesn't provide the efficiency XRP initially advertised with. I honestly don't even think they need XRP at all. Nothing prevents them from creating a way better alternative that will be allowing them to do everything they want, but without using an external entity to do it.

Western Union is the third party already when people want to transact, and when XRP comes in place it will be the fourth party sticking its nose in something it doesn't have shit to do with.

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June 20, 2018, 12:09:04 PM
 #5

I wish that there were no altcoins or ICO tokens in the crypto market,just the one and only bitcoin. Grin
By the way,all the huge hype around the crypto world is gone,the price growth just stopped and there are way less ICO projects launched this year.The crypto community has no fault for the "abundance of cheaters".We are not  the police.The "comical" situation this guy is describing isn`t comical for all the people,who were scammed by the army of cheaters.
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June 20, 2018, 12:34:17 PM
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I wish that there were no altcoins or ICO tokens in the crypto market,just the one and only bitcoin. Grin
By the way,all the huge hype around the crypto world is gone,the price growth just stopped and there are way less ICO projects launched this year.The crypto community has no fault for the "abundance of cheaters".We are not  the police.The "comical" situation this guy is describing isn`t comical for all the people,who were scammed by the army of cheaters.
Do you want to have a monopoly in the market? This is a bad thing. Thanks to altcoins we can have a lot of positive. For example, the price of a bitcoin transaction last year soared to the moon. I have solved these problems very successfully through altcoins. Let there are all the coins and the market and the demand itself will put everything in its place.
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June 21, 2018, 09:37:55 AM
 #7

Bitcoin is not the only good crypto currency.  It is not necessary to reduce everything to fraud.
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June 21, 2018, 07:18:26 PM
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I think the root of this misconception lies in sites like coinmarketcap and exchanges which have both coins and tokens under one roof and don't distinguish them in any way. Coinmarketcap now has filters for coins only / tokens only, but by default it shows the list of both. Also journalists, especially the mainstream ones use the word "cryptocurrency" when they talk about tokens, or use both words interchangeably, creating even more confusion. Good to see that someone tries to sort these things out.

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