BigBill
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November 20, 2014, 07:06:38 AM |
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In a case (I don't think that it is possible, unless a major flaw destroys it) where Bitcoin would fall, it is most likely that all cryptos would be proclaimed as unsafe and fall. The whole system would collapse.
Why? That was my question. Suppose it's not an encryption/algorithm failure. I think in BTC there is to many money invest, that is why all this system will not collapse so easy. |
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You get merit points when someone likes your post enough to give you some. And for every 2 merit points you receive, you can send 1 merit point to someone else!
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ReserviorHunt
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November 20, 2014, 07:28:06 AM |
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My opinion isn't popular. I think a crypto has a bright future. But it's not going to be bitcoin or any others that have a limited number of coins with inevitable extremely high transaction fees.
Not many (ethereum as far as I know is the only ... maybe doge?) That have this economic philosophy. Making a currency a pyramid scheme is as bad as the way things work in fiat. Rich get richer off the backs of new blood.
Just my 02
Agreed with the overall idea, disagree on ethereum and doge completely. Bitcoin won't be around forever or be as prominent. Things will change. |
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TaunSew
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November 20, 2014, 07:35:30 AM
Last edit: November 20, 2014, 07:51:33 AM by TaunSew |
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My opinion isn't popular. I think a crypto has a bright future. But it's not going to be bitcoin or any others that have a limited number of coins with inevitable extremely high transaction fees.
Not many (ethereum as far as I know is the only ... maybe doge?) That have this economic philosophy. Making a currency a pyramid scheme is as bad as the way things work in fiat. Rich get richer off the backs of new blood.
Just my 02
Agreed with the overall idea, disagree on ethereum and doge completely. Bitcoin won't be around forever or be as prominent. Things will change. I'm completely fair with this discussion. If Bitcoin had 100+ million users then I would say: "congratulations first mover advantage and can't be unseated" This is compared to the reality where many people have estimated Bitcoin's userbase to be a high of 2 million users and a low of 250,000 users (some people on this forum suggest even lower like 50,000). This is despite all the media attention, hype and government regulation. You don't see governments obsessing over Drop Box which has a bigger capitalization than Bitcoin or harassing Costco & Walmart club members. I thought bad publicity was still publicity? Well it doesn't seem to be working that way because Bitcoin is still smaller than the internet in the late 1980s. If Bitcoin "fails" it's because some alternate overtakes it and it won't take 6 years either. All you need is the one coin that goes viral and is palpable by mainstream. |
There ain't no Revolution like a NEMolution. The only solution is Bitcoin's dissolution! NEM!
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alwinlinzee
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November 20, 2014, 11:11:54 AM |
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The world have tested bitcoin and it has seen to be something unique and it ensures freedom, failure of bitcoin will easily give birth to something better than bitcoin because life must continue.
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ShroomsKit_Disgrace
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Yeah! I hate ShroomsKit!
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November 20, 2014, 11:14:04 AM |
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The world have tested bitcoin and it has seen to be something unique and it ensures freedom, failure of bitcoin will easily give birth to something better than bitcoin because life must continue.
Are you talking about NXT? Ethereum maybe? Bitshares? There you have 3 inmediate examples of "something better than bitcoin". |
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cryptogeeknext
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Bitcoin trolls back
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November 20, 2014, 12:26:42 PM |
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The world have tested bitcoin and it has seen to be something unique and it ensures freedom, failure of bitcoin will easily give birth to something better than bitcoin because life must continue.
Are you talking about NXT? Ethereum maybe? Bitshares? There you have 3 inmediate examples of "something better than bitcoin". I highly doubt these three are better, as a group of stakeholders with majority vote will at some point maintain total control over the network and can stay unchallenged in this position indefinitely at no cost. This is not possible with Bitcoin. If Bitcoin fails, it won't be because of the technical issues as those can always be corrected, but because people are not yet ready to understand the mechanics of control over money in the system and often blinded with just possibility for profit. They sell control(freedom) for profit(comfort). Happened before, happens again. Saying that other crypto might succeed if Bitcoin fails doesn't mean much, because as I already pointed out not all cryptos are in the same league. You can say that today's fiat is also crypto as banks use strong encryption, but that hardly makes any difference. |
there is an element of everything in every thing
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rocoro
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November 20, 2014, 01:53:00 PM |
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It's not clear to me what you mean by fail.
Its a currency, a tool.
The only way it can "fail" completely is if there was some catastrophic flaw or "hack" that would deem it not viable to be used as the tool it is.
If you mean by market cap and price alone, then also no, aside from any unseen catastrophic flaws; there will always be some type of value.
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devphp (OP)
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November 20, 2014, 01:56:31 PM |
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It's not clear to me what you mean by fail.
Its a currency, a tool.
The only way it can "fail" completely is if there was some catastrophic flaw or "hack" that would deem it not viable to be used as the tool it is.
If you mean by market cap and price alone, then also no, aside from any unseen catastrophic flaws; there will always be some type of value.
That's actually a question in the OP. Different people define 'Bitcoin failed' in different ways, you need to post your definition, as well as your thoughts on if that happens would it have other cryptos fail too. No, I don't mean a catastrophic encryption flaw. |
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TaunSew
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November 20, 2014, 02:05:04 PM |
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It's not clear to me what you mean by fail.
Its a currency, a tool.
The only way it can "fail" completely is if there was some catastrophic flaw or "hack" that would deem it not viable to be used as the tool it is.
If you mean by market cap and price alone, then also no, aside from any unseen catastrophic flaws; there will always be some type of value.
That's actually a question in the OP. Different people define 'Bitcoin failed' in different ways, you need to post your definition, as well as your thoughts on if that happens would it have other cryptos fail too. No, I don't mean a catastrophic encryption flaw. Failed concept = digital currencies revert to being worth less than $50 million Failed execution = Bitcoin is surpassed by another coin Seems simple enough |
There ain't no Revolution like a NEMolution. The only solution is Bitcoin's dissolution! NEM!
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God27
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The 4th industrial revolution!
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November 20, 2014, 02:23:38 PM |
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There is too many XRP to sustain such prices... it has 7100x more supply than bitcoin so at bitcoin $300 its worth less than $0.04/xrp... with bitcoin volume.. so I'd say its too high, maybe $0.0004 I would buy.
The price ATM is only $ 0.0056 not $0.04/xrp. The price is somewhere in between what you regard as too high and $0.0004 where you would buy. Oops true.. but id wait for one more drop in decimal place to be safe  It's like bitcoin @ $30. But XRP userbase is nowhere near BTC. You have to include the dumb speculation when buying. You won't get the price your trying to get. When xrp userbase should be near a penny it will be 2 and so on..... |
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cryptogeeknext
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November 20, 2014, 02:46:35 PM |
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I think more accurate question is what model of control over money would prevail in the future.
If Bitcoin demonstrates that hard fork is possible at this stage (for block size increase), then it opens up possibilities to change other aspects of the system including distribution model, hard limit on coins as well as control over transactions with PoW mining.
If that changed, would we consider Bitcoin failed or just evolved?
The real battle in crypto-space is waged for minds of the people.
Ideas have more weight than just code.
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there is an element of everything in every thing
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sidhujag
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November 23, 2014, 08:36:02 AM |
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There is too many XRP to sustain such prices... it has 7100x more supply than bitcoin so at bitcoin $300 its worth less than $0.04/xrp... with bitcoin volume.. so I'd say its too high, maybe $0.0004 I would buy.
The price ATM is only $ 0.0056 not $0.04/xrp. The price is somewhere in between what you regard as too high and $0.0004 where you would buy. Oops true.. but id wait for one more drop in decimal place to be safe It's like bitcoin @ $30. But XRP userbase is nowhere near BTC. You have to include the dumb speculation when buying. You won't get the price your trying to get. When xrp userbase should be near a penny it will be 2 and so on..... Wrong u fail at investing., learn math. U will mostly be able to buy at a cheaper price than u bought unless its a special case.. But depends wat pct u give it.. Id say btc has that not any alt |
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