Should we start New Bitcoin?

[gollum]

A new Bitcoin was started a long time ago: Terracoin. It is an exact duplicate of Bitcoin, except for the name. Where have you been? And if you want to improve on Bitcoin, you already have hundreds to choose from. May I suggest Dogecoin?

This. OP stop talking nonsense. This was tried before, this didn't result in anything.
Who can guarantee that the same won't eventually happen with the coins of Bitcoin 2.0? No-one.

Then we start bitcoin 3.0

After each iteration, the technology and the usage of it will mature in a way that will make the risk of a new "MtGox" less probable.

[rohnearner]

New Bitcoins are started every day.
Can we create a new, successful, Bitcoin... only if the majority agree with your beliefs.

My argument for a new bitcoin is simple: Most people has lost bitcoin due theft or data loss, or missed the boat.
So most coins in circulation are held by thieves, oligarchs and .gov.
Therefore we don't have anything to lose by voting with our feet and go over to a new coin.

You will never remove theft from one currency.
Where there is currency, there will always be theft.

Or you can secure yourself , spending time in keeping them secure is as important as getting them..! even spending few bucks in securing them is worth it , instead of using any service which is easily exploitable

[msc]

In fiat currencies inflation will inflate away the injustice, but in bitcoin the deflation does the exact opposite, rewards the thieves.

There's nothing you can do about that.  You can't accurately separate the thieves from everyone else.  As soon as a thief transfers coins from one address to another, you have to assume that the recipient is not a thief, and it's a legitimate transaction.

[C10H15N]

reward the stupid and punish the wise is never a good idea.  

[BlockChainLottery]

The reason for starting a new using bitcoin is simple:
We can assume that 50% of all bitcoins mined are either held by wrong persons, or are lost. It works.
A lot of people are burned by the MtGox theft, therefore they have nothing to lose on switching to a new coin learned a valuable lesson.

If we start to use a new coin Bitcoin more as a currency, the miners can use their hardware to switch over as well secure the network, and effectively abandoning Old making Bitcoin a huge success.
The value of Old Bitcoin will drop to zero skyrocket which will punish preminers, thieves and FBI benefit everybody.

FIFY

[rohnearner]

reward the stupid and punish the wise is never a good idea.  

Here i think OP is trying to punish Both Stupids and Wise. which is not good either..!

[hijackWH]

The reason for starting a new bitcoin is simple:
We can assume that 50% of all bitcoins mined are either held by wrong persons, or are lost.
A lot of people are burned by the MtGox theft, therefore they have nothing to lose on switching to a new coin.

If we start to use a new coin the miners can use their hardware to switch over as well, and effectively abandoning Old Bitcoin.
The value of Old Bitcoin will drop to zero which will punish preminers, thieves and FBI.

Bitcoin holders that will be punished most:
FBI: 10%
Satoshi: 10%
Thieves (from MtGox and other sites): 20%
Lost coins: 10%
Total = 50%

What about the people and businesses that still hold bitcoins from legitimate purposes?  Just because you personally got burned by Gox doesn't make BTC useless to everyone.  Many of us still have skin in the game.  If you would like to move another currency, feel free.  But you're going to have difficulty rallying everyone else to abandon the investments they hold just because YOU got burned entrusting your coins under the control of someone else.

Instead of moving to a new currency, how about practicing some of the security precautions that are posted in abundance all over the internet?

[gollum]

reward the stupid and punish the wise is never a good idea.  

Here i think OP is trying to punish to Both which is not good either..!

I can't punish anyone, but if many bitcoiners choose to give up bitcoin the effect will be punishing the thieves and hoarders.

[superresistant]

There is new crypto everyday.

[C10H15N]

I assume by hoarders you mean investors - the ones responsible for bitcoin having value? 

[RodeoX]

The reason for starting a new bitcoin is simple:
We can assume that 50% of all bitcoins mined are either held by wrong persons, or are lost.

Be sure to include a list of who you believe the "right people" are. We may have to recreate bitcoins many times until we are sure that none of the wrong people have them. Perhaps an alt coin that redistributes all the coins each time there is a spend? That way nobody has more coins than anyone else, which would be unfair to the lazy.

[gollum]

The reason for starting a new bitcoin is simple:
We can assume that 50% of all bitcoins mined are either held by wrong persons, or are lost.

Be sure to include a list of who you believe the "right people" are. We may have to recreate bitcoins many times until we are sure that none of the wrong people have them. Perhaps an alt coin that redistributes all the coins each time there is a spend? That way nobody has more coins than anyone else, which would be unfair to the lazy.

Right now preminers, early miners and hackers are the ones who owns most.
I'm not a communist, but the the current distribution of bitcoins is unsustainable.

[rohnearner]

reward the stupid and punish the wise is never a good idea.  

Here i think OP is trying to punish to Both which is not good either..!

I can't punish anyone, but if many bitcoiners choose to give up bitcoin the effect will be punishing the thieves and hoarders.

That will punish everyone who ever trusted in Bitcoins..!  I can understand you want to punish Thieves but I don't understand why you forget what will happen to those who left every thing to contribute to bitcoin community , some of members in this community i know who left there jobs after Indulged in love with BTC why punish those..!

[Lauda]

A new Bitcoin was started a long time ago: Terracoin. It is an exact duplicate of Bitcoin, except for the name. Where have you been? And if you want to improve on Bitcoin, you already have hundreds to choose from. May I suggest Dogecoin?

This. OP stop talking nonsense. This was tried before, this didn't result in anything.
Who can guarantee that the same won't eventually happen with the coins of Bitcoin 2.0? No-one.

Then we start bitcoin 3.0

After each iteration, the technology and the usage of it will mature in a way that will make the risk of a new "MtGox" less probable.

[oOoOo]

I have thought about make a thread like this actually!

I would advise against starting a new "Bitcoin", we are already flooded with altcoins as it is!

I would recommend switching to Litecoin, it was also developed by Satoshi and large portions of it are not in the hands of criminals (public or private sector) yet. The implementation of litecoin is not too far removed from the original Bitcoin and it is still actively developed by known developers. Just as with bitcoin, the supply of Litcoins is strictly limited, unlike Dogecoin for example which, though popular, inflates infinitely and is therefore unsuitable as a store of value.

As the second biggest market (by far!) it might be our best bet!

disclosure: if have a ~15% position in LTC.

[BitcoinQTlol]

feel free to send me all ur 'old bitcoin', you can be happy with ur gox coins

[mczarnek]

You don't like Bitcoin, I say switch to Nxt, after all it's 800 times more cost efficient and 3000 more energy efficient due to proof of stake, not to mention having many other services built on top of it, which will allow the coin to basically be sent around with practically zero transaction fees, and the forgers will be paid via people using the Nxt messaging service, decentralized computing, and other services.  Not to mention anyone can forge, there is no incentive to buy heavy duty equipment that can be used to mine Bitcoin and is good for absolutely nothing other than mining Bitcoin.

http://www.nxtcrypto.org/

[cr1776]

I just say what poor fellows can do: either give up on crypto currencies completely, or jump on a new bitcoin-clone.
IMO ripple got the best prospects to replace old bitcoin, IF they make it 100% open source.

So switch to Ripple? With essentially everything premined??

By the way, if you don't like bitcoin, why the "BitCoin" address begging?

[The_Gloomfrost]

The reason for starting a new using bitcoin is simple:
We can assume that 50% of all bitcoins mined are either held by wrong persons, or are lost. It works.
A lot of people are burned by the MtGox theft, therefore they have nothing to lose on switching to a new coin learned a valuable lesson.

If we start to use a new coin Bitcoin more as a currency, the miners can use their hardware to switch over as well secure the network, and effectively abandoning Old making Bitcoin a huge success.
The value of Old Bitcoin will drop to zero skyrocket which will punish preminers, thieves and FBI benefit everybody.

FIFY

Love this.

[godt]

You don't like Bitcoin, I say switch to Nxt, after all it's 800 times more cost efficient and 3000 more energy efficient due to proof of stake, not to mention having many other services built on top of it, which will allow the coin to basically be sent around with practically zero transaction fees, and the forgers will be paid via people using the Nxt messaging service, decentralized computing, and other services.  Not to mention anyone can forge, there is no incentive to buy heavy duty equipment that can be used to mine Bitcoin and is good for absolutely nothing other than mining Bitcoin.

http://www.nxtcrypto.org/

+1. Yes NXT is great