Bitcoin Predecessors

[hZti]

Since all this discussion here is only about coins that were created after bitcoin, I wanted to start this discussion about the predecessors of bitcoin. Has anyone experience with these?



Picture source: https://bitcointalk.org/index.php?topic=5232907.msg57589333#msg57589333

[vv181]

I am not aware of such things, especially not having a hands-on experience with them. But those things mentioned were indeed ideas that preceded Bitcoin, as in result we can safely say that most bitcoin concepts are built from those ideas.

There is a good article that explains most of the concepts of the image in a chronologically way, It's worth reading: https://queue.acm.org/detail.cfm?id=3136559, I suggest to take a look at it.

[RussianEnglishTranslation]

I think the reason BTC became popular and the other solutions did not was that it had a consensus mechanism "POW" that was highly secure and prevented double spending. Other chains before this were missing this feature.

[zasad@]

Bitcoin became popular because it had a team of people who actively promoted it. Another opinion says that Silk Road helped Bitcoin become famous. And then most of these people were expelled from the team and bitcoin became not a means of payment for cypherpunks, but a world currency.

[RussianEnglishTranslation]

Bitcoin became popular because it had a team of people who actively promoted it. Another opinion says that Silk Road helped Bitcoin become famous. And then most of these people were expelled from the team and bitcoin became not a means of payment for cypherpunks, but a world currency.

Other chains, apart from open chain, were missing critical components that we recognize as blockchains today.

[hZti]

Bitcoin became popular because it had a team of people who actively promoted it. Another opinion says that Silk Road helped Bitcoin become famous. And then most of these people were expelled from the team and bitcoin became not a means of payment for cypherpunks, but a world currency.

The big question is if we would still need such a team of people to be able to get more adoption. I remember that when I came here first to the forum in 2012 you could get coins for free at any corner. This made people download wallets, sign up at exchanges und trade coins. Because of that the whole ecosystem started to grow. This is somehow missing in my opinion. And don't get me wrong the coins you would recive then would be maybe worth 1-5 USD but still it was better to download a wallet etc. than to not recive that small amount.

[Master of Shitcoins]

In my opinion, Avalanche can be a very good predecessor of Bitcoin. It's requiring a good tech to be a predecessor of Bitcoin and of course it also requires scarcity of a coin to predecess Bitcoin. We know why Bitcoin is appreciated as a store of value and a competitor needs to be at least similar to Bitcoin's storing of value.

Also, ETH is a good quality coin where a lot promising innovation is built.

We will see which one will be predecessor of Bitcoin.

[SistaFista]

It is very interesting that R C Merkle already have an idea about public key of crypto system in 1980.
Maybe the name 'Merkle root' came from him ? Any digital form of money back then was very innovative idea.
Now, bitcoin has become the predecessors of many altcoins in cryptocurrency world.

[Anonymous100]

Since all this discussion here is only about coins that were created after bitcoin, I wanted to start this discussion about the predecessors of bitcoin. Has anyone experience with these?

Of course all the discussion here is about altcoins, that's right based on the thread from the forum. It's not that people don't want to talk about Bitcoin here, but the admin has provided a special Bitcoin thread, and it's at the top of this forum. It's okay to talk about Bitcoin in the Alt thread, but the experts are in the Bitcoin specific thread.

[Samurai trieng]

Bitcoin became popular because it had a team of people who actively promoted it. Another opinion says that Silk Road helped Bitcoin become famous. And then most of these people were expelled from the team and bitcoin became not a means of payment for cypherpunks, but a world currency.

maybe you are right the development team also contributed to the success of bitcoin being a digital currency that is very interested in crypto users, but the limited supply of BTC in the market greatly affects the price increase, besides that BTC is a coin that has strong fundamentals so it greatly affects the rise the decrease in the price of other coins in crypto.

[vv181]

Bitcoin became popular because it had a team of people who actively promoted it. Another opinion says that Silk Road helped Bitcoin become famous. And then most of these people were expelled from the team and bitcoin became not a means of payment for cypherpunks, but a world currency.

The big question is if we would still need such a team of people to be able to get more adoption. I remember that when I came here first to the forum in 2012 you could get coins for free at any corner. This made people download wallets, sign up at exchanges und trade coins. Because of that the whole ecosystem started to grow. This is somehow missing in my opinion. And don't get me wrong the coins you would recive then would be maybe worth 1-5 USD but still it was better to download a wallet etc. than to not recive that small amount.

A community seems like a more suitable term for me instead of a team. But besides Silk Road, there is also Wikileaks which adopt bitcoin too.

Anyway, within Bitcoin, there are still projects which give a minuscule amount of bitcoin. A project like Carrot Course is one example of a project that encourages adoption by incentivizing people to learn about bitcoin. Currently, there is also some exchange that gives coins for free in order to complete KYC, but that is the problem. Some people are discouraged by the requirement of the verification.

[BIT-BENDER]

I used to think that Bitcoin was the first every created Crypto-currency I even wrote a post about it in my beginning days on the forum, but I was latter corrected, although it’s true that Bitcoin wasn’t the first coin to be created it was definitely the first Crypto-currency to achieve the mainstream/adoption success as it has achieved infact many of the coins that came before Bitcoin aren’t anymore relevant as Ethereum for example, so I personally don’t think their is a need to reference them expect for history sake.