Bitcoin will inevitably Fail as Altcoins suceed

[findftp]

The quality of the people involved with the sdiechain whitepaper shows that at least some prominent knowledgeable Bitcoiners recognize that altcoins technology is pretty interesting and even superior in many aspects to Bitcoin.
Just as no one knew where bitcoin would be a couple of years ago, no one knows where altcoins will be over the horizon. And the horizon is not that far away

I always think about ipv6 and ipv4 in this comparison.
ipv6 is vastly superior to ipv4 but few people really know anything about it or are using it.
Why should I go for ipv6 when ipv4 also works (I know there are benefits and more ip adresses)?

And to compare it with cryptocurrency makes altcoins even less interesting in my opinion because there is value involved with bitcoin.
People want their precious bitcoins to be valuable so there is even less incentive to move to alts, how brilliant they are.
ipv4 = bitcoin
ipv6 = brilliant mega super duper other unicorn coin

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[devphp]

I always think about ipv6 and ipv4 in this comparison.

I don't think this comparison is valid or interesting.
Bitcoin is more like a higher layer protocol over TCP/IP, I like comparing it to UUCP that had limited applications.

[cbeast]

I always think about ipv6 and ipv4 in this comparison.

I don't think this comparison is valid or interesting.
Bitcoin is more like a higher layer protocol over TCP/IP, I like comparing it to UUCP that had limited applications.

IIRC Gavin recently observed that a better analogy would be ethernet replacing token ring.

[devphp]

I always think about ipv6 and ipv4 in this comparison.

I don't think this comparison is valid or interesting.
Bitcoin is more like a higher layer protocol over TCP/IP, I like comparing it to UUCP that had limited applications.

IIRC Gavin recently observed that a better analogy would be ethernet replacing token ring.

That's physical level. Shouldn't we best search for software level analogies? Crypto currencies are software after all.

[cbeast]

I always think about ipv6 and ipv4 in this comparison.

I don't think this comparison is valid or interesting.
Bitcoin is more like a higher layer protocol over TCP/IP, I like comparing it to UUCP that had limited applications.

IIRC Gavin recently observed that a better analogy would be ethernet replacing token ring.

That's physical level. Shouldn't we best search for software level analogies? Crypto currencies are software after all.

Bitcoin is a protocol, not software.

[gtraah]

LOOOOOOL - @ alt coins, is your brain all mush or something W T F.. I like to call them Altcopies... they are all just copies off each other with some numbers changed in the code. And walla done!, Infact this is EXACTLY how the creator of that stupid doggy coin explained how he created his copy.

Do you realize how many big names are invested into bitcoin and banking on it to thrive not only survive- In fact, have you heard of Blockstream? I can see this destroying the need for altcoins or even ethereum, counterparty, colour coins.. We only need the power, network effect, publicity and scarcity of Bitcoin , this can support the entire planet no problem, once we have people developing on top and along side it we wont need a whole heap of copied BS inflating the world of cryptocurrency.

[devphp]

LOOOOOOL - @ alt coins, is your brain all mush or something W T F.. I like to call them Altcopies... they are all just copies off each other with a very nnumbers changed in the code.

Do you realize how many big names are invested into bitcoin and banking on it to thrive not only survive- In fact, have you heard of Blockstream? I can see this destroying the need for altcoins or even ethereum, counterparty, colour coins.. We only need the power, network effect, publicity and scarcity of Bitcoin , this can support the entire planet no problem, once we have people developing on top and along side it we wont need a whole heap of copied BS inflating the world of cryptocurrency.

Again, homework not done. Most altcoins are copies, but not all of them.

There are not so many big names actually investing in Bitcoin yet, and what they invest in is mostly payment platforms and businesses, not bitcoins? Do you know why? Because payment platforms and infrastructure is easily adaptable to any crypto currency, and it's up to users to decide which one will be the leader, or perhaps even several leaders. Smart money invests to take profits in whatever users decide to be the currency of choice, smart money will skim their cut in any case. They like to invest in businesses generating profits, a large share of that investing goes into mining bitcoins. But do they keep those bitcoins or sell for fiat? The price action should tell us.

[gtraah]

LOOOOOOL - @ alt coins, is your brain all mush or something W T F.. I like to call them Altcopies... they are all just copies off each other with a very nnumbers changed in the code.

Do you realize how many big names are invested into bitcoin and banking on it to thrive not only survive- In fact, have you heard of Blockstream? I can see this destroying the need for altcoins or even ethereum, counterparty, colour coins.. We only need the power, network effect, publicity and scarcity of Bitcoin , this can support the entire planet no problem, once we have people developing on top and along side it we wont need a whole heap of copied BS inflating the world of cryptocurrency.

Again, homework not done. Most altcoins are copies, but not all of them.

There are not so many big names actually investing in Bitcoin yet, and what they invest in is mostly payment platforms and businesses, not bitcoins? Do you know why? Because payment platforms and infrastructure is easily adaptable to any crypto currency, and it's up to users to decide which one will be the leader, or perhaps even several leaders. Smart money invests to take profits in whatever users decide to be the currency of choice, smart money will skim their cut in any case. They like to invest in businesses generating profits, a large share of that investing goes into mining bitcoins. But do they keep those bitcoins or sell for fiat? The price action should tell us.

Yes not all but the concept all came from bitcoin if it wasn't for bitcoin these coins will not be here. We don't need altcoins, the only reason why ppl invest in altcoins is because they are cheap and they think its going to take off like bitcoin and they are going to become rich with fiat. Its all BS in my eyes.

 And usually people who have invested in bitcoin companies  - 90% of them have some bitcoins which means they are invested in it they'd be silly not to, anyway all this stuff takes time. Your right but at the moment the sell pressure is greater than the buy pressure but this will change over time especially when the block rewards drop and bitcoin becomes more popular there are still heap of people who haven't heard about bitcoin. I believe investing in companies around bitcoin is investing in bitcoin in a way, its called innovation. Similar like how people cannot invest in the internet they have to invest in things built around it.

Please check out blockstream this is potentially one of the greatest things that is going to take off in BITCOIN ecosystem, not altcoin

[Mickeyb]

Blockchain technology is the future of financial systems. In my opinion, when all of this becomes mainstream, there will be several cryptos that will get their piece of the market. Bitcoin will be one of them, but not the only one! Nobody should bet against the innovation, never!! 

[MaxDZ8]

Altcoins.
Succeeding.

I'm not quite on it.

A trader I'm in contact with does not seem very worried from BTC centralization. It's just a faster, more efficient SWIFT to him. I wonder if BTC will "fail" in the future but I see it in use for a long time for now.

[adhitthana]

If an altcoin has a serious advantage over bitcoin, we can most likely implement that feature into bitcoin and just fork it.

Can you imagine the politics  

[gtraah]

Blockchain technology is the future of financial systems. In my opinion, when all of this becomes mainstream, there will be several cryptos that will get their piece of the market. Bitcoin will be one of them, but not the only one! Nobody should bet against the innovation, never!! 

Offcourse innovation is the only way but the whole point of scarcity is scarcity, we don't need a whole new coin just because it has 1-3 extra features that people want, again this is why blockstream has gotten the ball rolling, they understand exactly this. Everything can be added to Bitcoin itself. And Innovation is the KEY, just wait and see. People have even nicknamed blockstream the altcoin killer lol

[gtraah]

If an altcoin has a serious advantage over bitcoin, we can most likely implement that feature into bitcoin and just fork it.

Can you imagine the politics  

Exactly, check above comments. This is why blockstream is coming together

[devphp]

Yes not all but the concept all came from bitcoin if it wasn't for bitcoin these coins will not be here. We don't need altcoins, the only reason why ppl invest in altcoins is because they are cheap and they think its going to take off like bitcoin and they are going to become rich with fiat. Its all BS in my eyes.

Well, that's only your opinion, thank you for sharing it )

[Mickeyb]

Blockchain technology is the future of financial systems. In my opinion, when all of this becomes mainstream, there will be several cryptos that will get their piece of the market. Bitcoin will be one of them, but not the only one! Nobody should bet against the innovation, never!! 

Offcourse innovation is the only way but the whole point of scarcity is scarcity, we don't need a whole new coin just because it has 1-3 extra features that people want, again this is why blockstream has gotten the ball rolling, they understand exactly this. Everything can be added to Bitcoin itself. And Innovation is the KEY, just wait and see. People have even nicknamed blockstream the altcoin killer lol

Well in all honesty, Bitcoin DEVs are not that famous for innovation, adding features and forking network in order to roll out new features out. Keep in mind that this adding of the features might be much harder to do than you are assuming.

[TR8888]

Proof/Source that Satoshi has 1mill coins pls..

[Soros Shorts]

I always think about ipv6 and ipv4 in this comparison.

I don't think this comparison is valid or interesting.
Bitcoin is more like a higher layer protocol over TCP/IP, I like comparing it to UUCP that had limited applications.

UUCP can and has been implemented over TCP/IP (transparently, I might add). So using your analogy Bitcoin can be implemented over some super duper Altcoin protocol. I don't think the analogy is a good one. For one, there was little vested interest for UUCP users to not migrate over to some better file transfer mechanism when that became available. On the other hand, there is a very big incentive for existing Bitcoin users to keep Bitcoin competitive by making incremental forks to the protocol/blockchain in a manner that would ensure that current holders do not get screwed over.

[huoiuu]

altcoin will fail inevitably

[BRE]

Its too early to judge that , no machine or human can predict 100% about that.
Only super big whale can control bitcoin price , but i think untill now some super rich guys still not interested about bitcoin.
Imagine if some rich guys from saudi began to buy bitcoin and they accept bitcoin for oil payment.
i believe bitcoin will hit more than $ 1000 with that.
That was just only 1 simple theory , and still much another reason for bitcoin can hit more high than $ 1000 in the future.

[2dogs]

Don't know what you guys are talking about, but
OP hasn't been back since he started this thread on Oct 22.