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Author Topic: All these new BitCoin clones? Your opinions?  (Read 2710 times)
prophexy
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October 24, 2011, 10:59:03 PM
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What is everyones opinion on the recent rumours of bitcoin dying, all of these new replacements to BitCoin coming out (SolidCoin, etc)?  I mean, I really don't want to start investing too much in Bitcoin if it's going to die soon (which would be a pity ;()...  Just wanting opinions Smiley

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BitCoin: 1LgiBNaDd1xZ8SB3cdMyv3zE5TjQrLwLvJ
LiteCoin LSfmNDyx9MFTuLi278VGDirHJAzcdU656H
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BitterTea
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October 24, 2011, 11:05:52 PM
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What is everyones opinion on the recent rumours of bitcoin dying, all of these new replacements to BitCoin coming out (SolidCoin, etc)?  I mean, I really don't want to start investing too much in Bitcoin if it's going to die soon (which would be a pity ;()...  Just wanting opinions Smiley

Nothing has fundamentally changed with Bitcoin, I do not see it as dying.

As far as the alternate chains... be skeptical of any claims until the code has been vetted by an independent party.
prophexy
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October 25, 2011, 01:01:39 AM
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What is everyones opinion on the recent rumours of bitcoin dying, all of these new replacements to BitCoin coming out (SolidCoin, etc)?  I mean, I really don't want to start investing too much in Bitcoin if it's going to die soon (which would be a pity ;()...  Just wanting opinions Smiley

Nothing has fundamentally changed with Bitcoin, I do not see it as dying.

As far as the alternate chains... be skeptical of any claims until the code has been vetted by an independent party.

Ahh, well this makes sense Cheesy  Thank you for your input.

DogeCoin: DBtBsdvj1simr14ooQCdK5XiFJ76t18Mip
BitCoin: 1LgiBNaDd1xZ8SB3cdMyv3zE5TjQrLwLvJ
LiteCoin LSfmNDyx9MFTuLi278VGDirHJAzcdU656H
simonk83
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October 25, 2011, 01:04:12 AM
 #4

Bitcoin isn't going anywhere.   If any of them are going to crash, it's Solidcoin, that much is obvious.
SockPuppet
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October 25, 2011, 01:20:55 AM
 #5

It wont' be which coin is the "best" technologically, but which one is easiest for vendors to adopt. Look at VHS vs Betamax. VHS was the crappier product, but became more popular.

At least that's my opinion.
prophexy
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October 25, 2011, 01:22:43 AM
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It wont' be which coin is the "best" technologically, but which one is easiest for vendors to adopt. Look at VHS vs Betamax. VHS was the crappier product, but became more popular.

At least that's my opinion.

Hahaha...this is very true Cheesy

DogeCoin: DBtBsdvj1simr14ooQCdK5XiFJ76t18Mip
BitCoin: 1LgiBNaDd1xZ8SB3cdMyv3zE5TjQrLwLvJ
LiteCoin LSfmNDyx9MFTuLi278VGDirHJAzcdU656H
Etlase2
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October 25, 2011, 11:48:35 AM
 #7

It wont' be which coin is the "best" technologically, but which one is easiest for vendors to adopt. Look at VHS vs Betamax. VHS was the crappier product, but became more popular.

At least that's my opinion.

VHS initially was able to hold a longer tape. Betamax couldn't even store a feature film. Sometimes one mistake is the death of an era. Wink


prophexy: definitely stay away from solidcoin as it is closed source. I would stay away from investing anything more than few play dollars in bitcoin as well. Little economy supports its weight, therefore it is easily manipulated and is just a stock market game where anyone who invests now takes an exceedingly high risk.

prophexy
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October 25, 2011, 01:09:19 PM
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It wont' be which coin is the "best" technologically, but which one is easiest for vendors to adopt. Look at VHS vs Betamax. VHS was the crappier product, but became more popular.

At least that's my opinion.

VHS initially was able to hold a longer tape. Betamax couldn't even store a feature film. Sometimes one mistake is the death of an era. Wink


prophexy: definitely stay away from solidcoin as it is closed source. I would stay away from investing anything more than few play dollars in bitcoin as well. Little economy supports its weight, therefore it is easily manipulated and is just a stock market game where anyone who invests now takes an exceedingly high risk.

Hmm... okay Smiley.  Thank you for the information, I appreciate it.  I'm not too knowledgeable about Bitcoin or any of the derivatives, obviously Wink.. Thanks again!

DogeCoin: DBtBsdvj1simr14ooQCdK5XiFJ76t18Mip
BitCoin: 1LgiBNaDd1xZ8SB3cdMyv3zE5TjQrLwLvJ
LiteCoin LSfmNDyx9MFTuLi278VGDirHJAzcdU656H
terrytibbs
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October 25, 2011, 01:56:35 PM
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If you're new to cryptocurrencies, Bitcoin is definitely your thing. Once you get the hang of it, and start understanding the network that empowers it, read more about the alternate implementations of the protocol. It
s a great venue to try new stuff like CPU-specific mining, or multi-wallet functionality, stuff that isn't ready for prime-time in Bitcoin.
Akemashite Omedetou
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October 25, 2011, 03:41:34 PM
 #10

All the alternative cryptocurrencies are just an attempt to make some fast money by their creators. They saw that the way bitcoin was made, early adopters could make quite a lot of cash. That was what they are trying to recreate.
However, the purpose of the original bitcoin was not to make fast money, that was just caused by the way it is structured. Original bitcoin has a purpose beside this early-adopter business, the others - don't.

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Etlase2
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October 25, 2011, 04:04:18 PM
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However, the purpose of the original bitcoin was not to make fast money, that was just caused by the way it is structured.

right, unfortunate accident.

BitterTea
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October 25, 2011, 04:23:21 PM
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However, the purpose of the original bitcoin was not to make fast money, that was just caused by the way it is structured.

right, unfortunate accident.

Fast money == worthless for two years after release?
Kyosama66
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October 26, 2011, 01:09:09 AM
 #13

However, the purpose of the original bitcoin was not to make fast money, that was just caused by the way it is structured.

right, unfortunate accident.

Fast money == worthless for two years after release?

Not completely worthless. It makes me jealous that anyone had that kind of opportunity; but that's what I get for not paying attention to what's happening on the internet!
Han
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October 26, 2011, 08:20:23 AM
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The functional equivalents of bitcoin would definitely compete with it if any of them become widely adopted. So far, none of them have been able to take much market share away from bitcoin, but it is inevitable that one or more of the alt chains will. Also inevitable though is the increasing use and demand for bitcoin and its competitor cryptocurrencies. Whether demand grows faster than supply to keep prices rising is the million bitcoin question.
kokjo
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October 26, 2011, 08:38:33 AM
 #15

they suck. but bitcoin can not die becuase of them.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
Jutarul
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October 26, 2011, 09:21:08 AM
 #16

my two satoshi:

there can only be one facebook and there can only be one bitcoin

Unless people develop a method to abstract away the content from the platform, content is always platform-bound.

The bitcoin system is a platform for wealth exchange. Nothing more, nothing less.

The only reason for these platforms to fail is to lose trust at first AND a competitor having a significant advantage. However, the only way for bitcoin to lose trust is when the security of the transaction log is compromised, either through hacking attacks or through an algorithmic flaw.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
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Nyaaan
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October 26, 2011, 09:48:42 AM
 #17

Solidcoin is not very solid, it is a waste of your money, and the devs will steal all of your solidcoins.
mr chong
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October 26, 2011, 02:31:20 PM
 #18

Unless a lot of people/businesses start to accept the new currencies they have little chance to survive. Kind of like ebay the first catches on then others spring up for a short while then fade away from lack of interest so unless they get big acceptance fast they will not last.
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October 26, 2011, 02:34:41 PM
 #19

I support everyones right to create as many forks as they want, but i'm sticking to bitcoin. And my new invention "Rodeocoin". There is no software, just send me money in the mail and I'll keep track of it in my head.  Smiley

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
btc_artist
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October 26, 2011, 03:53:05 PM
 #20

I support everyones right to create as many forks as they want, but i'm sticking to bitcoin. And my new invention "Rodeocoin". There is no software, just send me money in the mail and I'll keep track of it in my head.  Smiley

Smiley  Yeah, I think I'm sticking with bitcoin as well.

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