Why can't altcoins merge?

[minairia3]

The growth of altcoins is very similar to the explosive growth of dotcoms 10 years ago.  At that time, promising dotcoms that complimented each other would merge.  As an example of how this could happen, let's take XC and Silkcoin.  XC has a promising anon feature along with an average wallet while Silkcoin has a beautiful high tech wallet but no anon feature.  A "Silkxc" would be very competitive if it could be done.  The holders of the coin with the least value with receive an equivalent of the coin of the higher value at the time of the merger.  Any reason why this kind of thing can't work?  And there's no reason why Silkxc could not merge with Razor to add tor to the anon feature and with Dogecoin for meme power.  "Razordoge-X" anyone?

[bitcoinreactor]

The holders of the coin with the least value with receive an equivalent of the coin of the higher value at the time of the merger.

how would you achieve that in a "trusted", fair way ?

[Willisius]

The growth of altcoins is very similar to the explosive growth of dotcoms 10 years ago.  At that time, promising dotcoms that complimented each other would merge.  As an example of how this could happen, let's take XC and Silkcoin.  XC has a promising anon feature along with an average wallet while Silkcoin has a beautiful high tech wallet but no anon feature.  A "Silkxc" would be very competitive if it could be done.  The holders of the coin with the least value with receive an equivalent of the coin of the higher value at the time of the merger.  Any reason why this kind of thing can't work?  And there's no reason why Silkxc could not merge with Razor to add tor to the anon feature and with Dogecoin for meme power.  "Razordoge-X" anyone?

You can't merge coins like that. Each coin is a blockchain, and you can't merge two of them, it's not designed for that. Now, you could fork both and implement their individual features into a totally new coin. You could even use a snapshot of the blockchain to award people on the old chain with their new chain coins. But you can only do that for one blockchain.

[tk808]

The holders of the coin with the least value with receive an equivalent of the coin of the higher value at the time of the merger.

how would you achieve that in a "trusted", fair way ?

Make a system which burns ANY alt-coin, and gives an appropriate amount of X coin to the user, according to burned coins current market value.





That's how you dominate markets and unite all currencies into one currency.






This idea is free to use, just let me know if you do it so i can watch the progress ^^

[ebliever]

Piggycoin did something similar to the above suggestion(s) recently. They shifted from a Scrypt blockchain to X11, and it involved setting up a link where you sent your old coins to be burned. A premine on the X11 chain provided the necessary coin supplies to reimburse everyone who sent their old Scrypt piggies in to be burned. In principle you could do this with multiple coins at once, handing out a single new coin for the old ones being sent in. (Kind of like counterparty as well, come to think of it.)

[tk808]

Piggycoin did something similar to the above suggestion(s) recently. They shifted from a Scrypt blockchain to X11, and it involved setting up a link where you sent your old coins to be burned. A premine on the X11 chain provided the necessary coin supplies to reimburse everyone who sent their old Scrypt piggies in to be burned. In principle you could do this with multiple coins at once, handing out a single new coin for the old ones being sent in. (Kind of like counterparty as well, come to think of it.)

It's not decentralized system if someone handles the transactions being sent out.

There are two tricky parts to the system, as you mentioned XCP-like distribution system

and Market value/supply and etc of this brand new coin.


The most tedious part would be compiling over 500-1000+ Alt-coin wallets so the coin is truly universal

[Ibistru]

Because else the shitcoins 'developers' would have to stop scamming people

[minairia3]

Officially via a law firm, a big accounting firm, etc. Everything real world and official.

The holders of the coin with the least value with receive an equivalent of the coin of the higher value at the time of the merger.

how would you achieve that in a "trusted", fair way ?

[minairia3]

It wouldn't require 100s of wallets, only those of the two coins merging ...

Piggycoin did something similar to the above suggestion(s) recently. They shifted from a Scrypt blockchain to X11, and it involved setting up a link where you sent your old coins to be burned. A premine on the X11 chain provided the necessary coin supplies to reimburse everyone who sent their old Scrypt piggies in to be burned. In principle you could do this with multiple coins at once, handing out a single new coin for the old ones being sent in. (Kind of like counterparty as well, come to think of it.)

It's not decentralized system if someone handles the transactions being sent out.

There are two tricky parts to the system, as you mentioned XCP-like distribution system

and Market value/supply and etc of this brand new coin.


The most tedious part would be compiling over 500-1000+ Alt-coin wallets so the coin is truly universal

[minairia3]

Only "legit" coins like Dogecoin, XC etc. with some kind of existence as a legal entity would be able to do this.  I imagine VC firms might get involved as once it becomes possible to merge the best features of the best altcoins in a legal scam free regulated environment real money will flow in.

Because else the shitcoins 'developers' would have to stop scamming people

[PolarPoint]

Because it would be easier to create a new coin with the combined features by merging the source code, and they can pump and dump once again.

[Este Nuno]

Piggycoin did something similar to the above suggestion(s) recently. They shifted from a Scrypt blockchain to X11, and it involved setting up a link where you sent your old coins to be burned. A premine on the X11 chain provided the necessary coin supplies to reimburse everyone who sent their old Scrypt piggies in to be burned. In principle you could do this with multiple coins at once, handing out a single new coin for the old ones being sent in. (Kind of like counterparty as well, come to think of it.)

It's not decentralized system if someone handles the transactions being sent out.

There are two tricky parts to the system, as you mentioned XCP-like distribution system

and Market value/supply and etc of this brand new coin.


The most tedious part would be compiling over 500-1000+ Alt-coin wallets so the coin is truly universal

Well the merge itself isn't decentralised. But the result still is.

I don't think we're going to see a decentralised method to merge coins that that for a very long time. If ever. But it would be interesting to see for sure.

[KlondikeBear]

I have a similar question: why BTC, or LTC, or DOGE developers don't add some new innovative features to their codes, to combine innovations with existing infrastructure?

[Este Nuno]

I have a similar question: why BTC, or LTC, or DOGE developers don't add some new innovative features to their codes, to combine innovations with existing infrastructure?

Well BTC I understand. It's too risky for the devs and they already have a massive amount of 3rd parties building on top of the protocol anyway.

But I can't for the life of me figure out why a coin like LTC insists on staying in the dark ages. With all that money behind it and all this new competition you would think that the community would be stepping up to take it to the next level.

And doge, well, that's not such a serious coin so I can understand why they aren't too serious about upgrades.

[riecoiner1]

Burning coins and having the new coin recognize them is the fair trustless way. But it has to be done watching the new and old chains so it would require  some space. Doing it with a premine is scammy.

[Spoetnik]

naive much or just the classic Bitcointalk fake post so you can name drop a coin ?

hey why can't everyone around the world hold hands and get along
and Trade Fast coin ? (FST) ....

hey look i joined in "the debate" and inadvertently bumped your topic giving your bag you want pumped advertising and attention.

lol