Important - forks bring down the course

[den11111]

I think everyone noticed that the course is fallen.
Who did it? There are many reasons, but I see the main reason - clones. Blunt and clumsy clones. Why?
Everyone whant to have their kriptocurrencies. Only objectively useful fork - namecoin (IMHO). Although crude but unique with lots of new features and very differents from BTC.

Why forks isnt good? Everyone knows that all genius is simple. The system should be simple for beginners. Imagine that I did not come when was only bitkoin. Imagine that i came now fnd see so many clones:  FBX GEG FBX IOC IXC LTC SCN CBO RUC  and other trash. Would I use bitkoins? I dont think so.

For all newers who decided to find out what's what - BTC is the main currency and the first. Course all forks based on BTC. If BTC falls  -  falls all clones. Creating clones leads to the dispersal of power from the main project and drop the course.
And I have a great desire to create my own currency . Now, I hope if you see something new supercurrency - you dont run ti mining or buy it.

Helping to make money on the new forks you are depriving yourself of chances to enjoy bitkoins in the future. Imagine that a new currency its Mistery Mans personal money. What is personal currency for all in general? It's like a personal site. If its have everyone that its nothing.

[murasha]

to have their kriptovalyutu.

Well, seems you need to write "cryptocurrency" instead of "kriptovalyutu".
BTW, GetsGeld bring escrow service, tbx use scrypto that makes mining easy for those who havent alot of GPU. This is evolution.

[Lolcust]

With due respect, newbies can only find this little  hive of scum and villainy only if they click Alternate Cryptocurrencies which they are exceedingly unlikely to do.

Also, CPU-forks can not "leech" anything out of bitcoin since they aren't mined with GPU. But I suspect you know that.

[sd]

If you really want to help Bitcoin, TURN OFF your rigs and start buying.

If everyone did that we would not have a network at all.

[EskimoBob]

If you really want to help Bitcoin, TURN OFF your rigs and start buying.

You are almost right. Let me add something: "If you really want to help Bitcoin, SCALE BACK your rigs and start using (or developing ways to use) bitcoin in the real world.
"Economy" based mostly on BTC price speculations will not keep bitcoin around for long. It will get boring soon and then you can kiss it goodbye for good. Real life use will lift BTC price and will keep it around for a long long time.
Maybe it's time to start looking (and marketing) BTC as a mechanism to transfer funds and not so much as a new and shiny currency. If business owners understand that idea better, then this is the way to go.
If you do not understand, wtf I am talking about, do not get angry and start screaming profanities. Look at the big picture, get over your egoistic needs and think.
We are past "how many coins can I mine", we are in the stage where "how many NEW people and businesses can adopt the idea and use *coin" has become more important than your ego stroking hashrate of your mining rig.
Question is: "Will greed and stupidity kill the BTC?" Yes, if your short term speculative gains are most important.

Are forks to blame? No way. This is normal evolution. Who knows what will survive and what will not but this is not important at t he moment. "Will *coin be adopted by businesses?" is the most important question.

[iopq]

what gives BTC its high value is its high hashrate/difficulty

this is because it's not likely to get attacked by a 51% attacker due to the sheer difficulty of pulling something off like that
also, mining gives you very little bitcoins unless you have a beastly GPU, so if you want to buy something with BTC you need to buy some on the market first and then buy the item you need

if you want to buy something in another currency, why would you pay dollars for it, if you can mine a bunch with your computer pretty quick? then it follows that the prices in goods have to be high in that currency, and the price of the dollar would be pretty high too

now, the speculation for bitcoins was based on the fact that bitcoins will in the future no longer be generated and the entire world would have to use a limited supply of them, so some people thought that in 30 years a bitcoin would be worth $1000 each and most transactions would be done in microbitcoins just to support a multi-billion bitcoin economy

however, this is not really true
when bitcoins start running out, people can just use another chain to handle their transactions
so even if the cryptocurrency economy is multi-billion, there's gonna be like hundreds of them and they would all be different and be worth very little

and nobody will care that the amount of bitcoins is capped

[kano]

lol no the value of BTC is not directly related to the difficulty.

The price has been falling since the peak back at $30 (pretty much constantly) but difficulty has been rising.
So that completely discounts that idea.

Yes I'll agree (and I've said to many) it's using bitcoins and providing services that give it value.

Now here's my extra take on that: what does having all these scamcoins do?
More exchange options, more people trading scamcoins for bitcoins and back again ... using bitcoins
Yeah I don't think they are bad ... except when MORONS like CH use their scamcoin to badmouth bitcoin.
That OBVIOUSLY is bad for bitcoin.
Otherwise they also represent more use of bitcoins also.

[iopq]

lol no the value of BTC is not directly related to the difficulty.

the value of it is directly related to the difficulty
the price is not directly related to the value, however

for example, there are more merchants who accept bitcoins now than there were when it was $30

[BitcoinPorn]

I am sure the miners have the math better down than me, but is currently it costing less to just buy a Bitcoin directly than mine for it?   I guess electricity cost is the only factor depending on the miner.

[iopq]

I am sure the miners have the math better down than me, but is currently it costing less to just buy a Bitcoin directly than mine for it?   I guess electricity cost is the only factor depending on the miner.

for most people, yes
depends on electrical costs, though

[kano]

Not sure how you can separate value and price.
If the value is higher then the price would go up, if the value is lower then the price will go down.
I can't see that being wrong ...

Also note that just coz one person thinks it's value is high doesn't mean anything at all.
It's general consensus of the people getting it, buying it and using it that is only meaningful.

[iopq]

Not sure how you can separate value and price.
If the value is higher then the price would go up, if the value is lower then the price will go down.
I can't see that being wrong ...

Also note that just coz one person thinks it's value is high doesn't mean anything at all.
It's general consensus of the people getting it, buying it and using it that is only meaningful.

just because the price hit $30 doesn't mean the value of a bitcoin was ever that high

in fact, the value of bitcoin did not change since then, just the price has
nothing really happened to change the value, except a few more merchants did start accepting it, but that just increases the value of it