Eamorr (OP)
|
|
January 13, 2015, 08:22:43 PM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
|
|
|
|
r0ach
Legendary
Offline
Activity: 1260
Merit: 1000
|
|
January 13, 2015, 08:25:53 PM |
|
|
|
|
|
dsattler
Legendary
Offline
Activity: 924
Merit: 1000
|
|
January 13, 2015, 08:28:06 PM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
The only one I have heard of is NuBits: https://nubits.comThis crypto currency is pegged to USD, so 1 NuBit (NBT) is 1 dollar.
|
Bitcointalk member since 2013!
|
|
|
Brilliantrocket
|
|
January 13, 2015, 09:06:20 PM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
The only one I have heard of is NuBits: https://nubits.comThis crypto currency is pegged to USD, so 1 NuBit (NBT) is 1 dollar. My new cryptocurrency Shitbits is also pegged 1:1 to the USD. How many can I put you down for?
|
|
|
|
Eamorr (OP)
|
|
January 13, 2015, 09:08:30 PM |
|
Disgusting. Especially for a Snr member of this site.
|
|
|
|
FandangledGizmo
Legendary
Offline
Activity: 1138
Merit: 1001
|
|
January 13, 2015, 09:38:23 PM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
The only one I have heard of is NuBits: https://nubits.comThis crypto currency is pegged to USD, so 1 NuBit (NBT) is 1 dollar. NuBits is quite a risky way to store the value of a dollar on a blockchain. I would suggest you read this post - http://bytemaster.bitshares.org/article/2015/01/13/NuBits-is-a-Ponzi-Scheme/(Bytemaster is a founder of BitShares which has a dollar stable asset of it's own BitUSD, so you could argue he is biased but I think his explanation is sound.) If you want to understand how BitUSD works check this out http://bitshares.org/the-value-proposition-of-bitshares-part-ii-bitassets/In response to OP about decoupling, hopefully some will soon. I believe POW has been proved inefficient by the market. Once LiteCoin drops out, Bitcoin may be the only POW in the top 8. No/Low inflation D/POS systems are better. However all unstable crypto is in trouble because when you spend it businesses have to sell it for fiat. https://bitcointalk.org/index.php?topic=922252.msg10128457#msg10128457Only BitShares with BitUSD, BitCNY & BitEUR has anticipated this problem and is able to offer businesses a secure, stable decentralized currency asset which increases demand for the backing crypto BitShares. That's a lot of info, but yes I think there is a decoupling happening soon.
|
|
|
|
r0ach
Legendary
Offline
Activity: 1260
Merit: 1000
|
|
January 14, 2015, 01:22:12 AM |
|
Disgusting. Especially for a Snr member of this site. Hey, I didn't create the coin, but it is one of the altcoins your topic refers to overthrowing Bitcoin! Maybe Borgcoin will beat the Cryptoshekel instead? http://bitcointalk.org/index.php?topic=574236.0
|
|
|
|
tokeweed
Legendary
Offline
Activity: 4172
Merit: 1464
Life, Love and Laughter...
|
|
January 14, 2015, 01:49:44 AM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
i think we need new bit.FIAT implementations. bitshares and nubits are probably steps in the right direction.
|
|
|
|
R |
▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
| | | | | | .
| | | ▄▄████▄▄ ▀█▀▄▀▀▄▀█▀ ▄▄░░▄█░██░█▄░░▄▄ ▄▄█░▄▀█░▀█▄▄█▀░█▀▄░█▄▄ ▀▄█░███▄█▄▄█▄███░█▄▀ ▀▀█░░░▄▄▄▄░░░█▀▀ █░░██████░░█ █░░░░▀▀░░░░█ █▀▄▀▄▀▄▀▄▀▄█ ▄░█████▀▀█████░▄ ▄███████░██░███████▄ ▀▀██████▄▄██████▀▀ ▀▀████████▀▀ | . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀ ███▀▄▀█████████████████▀▄▀ █████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀ ███████▀▄▀██████░█▄▄▄▄▄▄▄▄ █████████▀▄▄░███▄▄▄▄▄▄░▄▀ ████████████░███████▀▄▀ ████████████░██▀▄▄▄▄▀ ████████████░▀▄▀ ████████████▄▀ ███████████▀ | ▄▄███████▄▄ ▄████▀▀▀▀▀▀▀████▄ ▄███▀▄▄███████▄▄▀███▄ ▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄ ▄██▀▄███░░░▀████░███▄▀██▄ ███░████░░░░░▀██░████░███ ███░████░█▄░░░░▀░████░███ ███░████░███▄░░░░████░███ ▀██▄▀███░█████▄░░███▀▄██▀ ▀██▄▀█▄▄▄██████▄██▀▄██▀ ▀███▄▀▀███████▀▀▄███▀ ▀████▄▄▄▄▄▄▄████▀ ▀▀███████▀▀ | | OFFICIAL PARTNERSHIP SOUTHAMPTON FC FAZE CLAN SSC NAPOLI |
|
|
|
dsattler
Legendary
Offline
Activity: 924
Merit: 1000
|
|
January 14, 2015, 07:15:35 AM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
The only one I have heard of is NuBits: https://nubits.comThis crypto currency is pegged to USD, so 1 NuBit (NBT) is 1 dollar. NuBits is quite a risky way to store the value of a dollar on a blockchain. I would suggest you read this post - http://bytemaster.bitshares.org/article/2015/01/13/NuBits-is-a-Ponzi-Scheme/(Bytemaster is a founder of BitShares which has a dollar stable asset of it's own BitUSD, so you could argue he is biased but I think his explanation is sound.) If you want to understand how BitUSD works check this out http://bitshares.org/the-value-proposition-of-bitshares-part-ii-bitassets/In response to OP about decoupling, hopefully some will soon. I believe POW has been proved inefficient by the market. Once LiteCoin drops out, Bitcoin may be the only POW in the top 8. No/Low inflation D/POS systems are better. However all unstable crypto is in trouble because when you spend it businesses have to sell it for fiat. https://bitcointalk.org/index.php?topic=922252.msg10128457#msg10128457Only BitShares with BitUSD, BitCNY & BitEUR has anticipated this problem and is able to offer businesses a secure, stable decentralized currency asset which increases demand for the backing crypto BitShares. That's a lot of info, but yes I think there is a decoupling happening soon. So what? It's a crypto currency after all, nothing gold-backed... Only time will tell if it's sustainable, though it's working for me since 3 months. NuBits are still 1 USD each.
|
Bitcointalk member since 2013!
|
|
|
Eamorr (OP)
|
|
January 14, 2015, 07:37:26 AM |
|
S'e's coming up!!! While everyone watches Bitcoin implode on itself, the decoupling is beginning. We're currently testing how deep XRP can go. In about a year, it will be:
|
|
|
|
unusualfacts30
|
|
January 14, 2015, 08:01:37 AM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
I agree. People get glued to BTC but it was only given as an "idea" and that's what people need to understand. You shouldn't get glued to an idea..you should learn something from it and make it better.
|
|
|
|
Eamorr (OP)
|
|
January 14, 2015, 08:05:16 AM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
I agree. People get glued to BTC but it was only given as an "idea" and that's what people need to understand. You shouldn't get glued to an idea..you should learn something from it and make it better. A large % of transactions in/out of XRP are in BTC, so it's understandable. There's a lot of work to do before Ripple can become independent in its own right. All the tools, people, infrastructure (and money) is there.
|
|
|
|
unusualfacts30
|
|
January 14, 2015, 08:08:46 AM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
I agree. People get glued to BTC but it was only given as an "idea" and that's what people need to understand. You shouldn't get glued to an idea..you should learn something from it and make it better. A large % of transactions in/out of XRP are in BTC, so it's understandable. There's a lot of work to do before Ripple can become independent in its own right. All the tools, people, infrastructure (and money) is there. I don't think Ripple can even walk straight without BTC supporting it. lol It's going to be XPY, bro. It's the next big thing and timing of it couldn't be better. Josh announced that $20 buy back and next thing you know BTC price starts dropping like a bomb. Even old BTC holders are moving towards XPY because of profit they can make. I have a feeling it's going to have biggest market cap we've known in history of crypto. I'm not talking about small marketcap. I'm talking about 500000 trillions of dollars moving to XPY. I"m talking about people selling their kids and house for XPY. Chaos on street and people killing each other just to get hold of some XPY. I'm talking about World War 4! I'm talking about Nuclear bombs getting dropped to get hold of some XPY. This is history in the making.
|
|
|
|
Eamorr (OP)
|
|
January 14, 2015, 08:15:27 AM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
I agree. People get glued to BTC but it was only given as an "idea" and that's what people need to understand. You shouldn't get glued to an idea..you should learn something from it and make it better. A large % of transactions in/out of XRP are in BTC, so it's understandable. There's a lot of work to do before Ripple can become independent in its own right. All the tools, people, infrastructure (and money) is there. I don't think Ripple can even walk straight without BTC supporting it. lol It's going to be XPY, bro. It's the next big thing and timing of it couldn't be better. Josh announced that $20 buy back and next thing you know BTC price starts dropping like a bomb. Even old BTC holders are moving towards XPY because of profit they can make. I have a feeling it's going to have biggest market cap we've known in history of crypto. That's right, XPY walks straight. Of course XRP relies on BTC. You seem to believe people here are denying this? All I'm saying is that decoupling from old tech BTC is a good thing (and inevitable). I hope XPY succeeds in helping you make a profit. XRP wants to be the lingua Franca of currency - it wants to help ordinary people sell their goods/services more efficiently, and help them to make a better profit along the way.
|
|
|
|
toknormal
Legendary
Offline
Activity: 3066
Merit: 1188
|
|
January 14, 2015, 09:48:37 AM |
|
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time Bitcoin's "tech" has nothing to do with its role as the cryptocurrency "reserve" (i.e. the one thats used to price everything else). Over the last year there's been an army of alts that have way more advanced tech than bitcoin but they've not even made a dent in its marketcap - not even with the current crash. It's still 60 times the cap of its nearest competitor. XPY is an interesting project but thats about it. You don't get the kind of track record bitcoin has overnight - whatever it's disadvantages it's becoming an increasingly known quantity. Hacks, market crashes, wallet proliferation, ETFs, died 50 times in the media, senate hearings, legistlation, Virgin Galactic, Dell, Dish, Microsoft.....all that stuff takes years and the they're not pretty. If XPY or any other contender wants to be the new number one then it's going to have to go through all that as well, so expect at least a 5 year rights-of-passage phase. Meanwhile, Spain has just made Bitcoin available at 10,000 ATMs throughout the country, Australia, Switzerland and the US are spreading BTM's, POS payment terminals are being rolled out in Germany....it doesn't stop. Bitcoin ain't going anywhere. It has to die in this crash for it not to - I wouldn't hold my breath. Bitcoin's "tech" is perfect for the role it has to play. For everything else there are alts in specific market sectors. Confirmation times are good - slow and reliable but a 100 times faster than a bank which takes a day or two.
|
|
|
|
Eamorr (OP)
|
|
January 14, 2015, 10:11:43 AM |
|
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time Bitcoin's "tech" has nothing to do with its role as the cryptocurrency "reserve" (i.e. the one thats used to price everything else). Bitcoin is not a "reserve". Sure, it's sort of a crypto reserve, but it's iron grip is loosening. Fast. Over the last year there's been an army of alts that have way more advanced tech than bitcoin but they've not even made a dent in its marketcap - not even with the current crash. It's still 60 times the cap of its nearest competitor.
Factually incorrect. One is left wondering what else you're factually incorrect on. XPY is an interesting project but thats about it. You don't get the kind of track record bitcoin has overnight - whatever it's disadvantages it's becoming an increasingly known quantity. Hacks, market crashes, wallet proliferation, ETFs, died 50 times in the media, senate hearings, legistlation, Virgin Galactic, Dell, Dish, Microsoft.....all that stuff takes years and the they're not pretty.
Of course. As for XPY, I don't really have much of an opinion on it. Doesn't look like it's particularly active or has much backing. As for Dell, Microsoft... Desperate companies. If XPY or any other contender wants to be the new number one then it's going to have to go through all that as well, so expect at least a 5 year rights-of-passage phase. Meanwhile, Spain has just made Bitcoin available at 10,000 ATMs throughout the country, Australia, Switzerland and the US are spreading BTM's, POS payment terminals are being rolled out in Germany....it doesn't stop.
You quote a list of countries. None of these countries have an official policy on crypto (never mind Bitcoin). Whatever about laws, at best, they would have a tenuous set of "rules" for cryptocurrency users and businesses. Bitcoin ain't going anywhere. It has to die in this crash for it not to - I wouldn't hold my breath. Bitcoin's "tech" is perfect for the role it has to play. For everything else there are alts in specific market sectors. Confirmation times are good - slow and reliable but a 100 times faster than a bank which takes a day or two.
Bitcoin will be around for a long time. I agree. But like the steam engine, it's use will be for nostalgic reasons. Not because it is capable of being the world's currency. It isn't.
|
|
|
|
BaselessBitcoin
Newbie
Offline
Activity: 14
Merit: 0
|
|
January 14, 2015, 10:46:19 AM |
|
I still think BTC is the only thing that will stick for the long term. Real money is not going in any other crypto.
|
|
|
|
nextgencoin
Legendary
Offline
Activity: 1106
Merit: 1000
|
|
January 14, 2015, 10:47:21 AM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
The only one I have heard of is NuBits: https://nubits.comThis crypto currency is pegged to USD, so 1 NuBit (NBT) is 1 dollar. My new cryptocurrency Shitbits is also pegged 1:1 to the USD. How many can I put you down for? A coin that is designed to lose value along with the dollar. brilliant!
|
|
|
|
Eamorr (OP)
|
|
January 14, 2015, 11:46:10 PM |
|
Bitcoin's market cap now $2.4bn (x5 the nearest alt-coin)
Just last week, the multiple was x7
How do I calculate the multiples for the last 18 months? There you could see some very interesting results.
|
|
|
|
insidertradingeverywhere
Full Member
Offline
Activity: 468
Merit: 100
The world’s first Play, Learn and Earn
|
|
January 15, 2015, 12:59:31 AM |
|
Bitcoin has dominated all other cryptos. Without Bitcoin, we'd never be where we are today.
But Bitcoin is now old tech (that's my view). Bitcoin is incapable of being a global currency (either today or in 100 years' time).
And as Bitcoin becomes less and less dominant, can other cryptocurrencies now diverge independently from BTC?
Pretty much every cryptocurrency of significant market cap has danced in step with Bitcoin. Until now.
From the market over the last week, we can see the beginnings of alt-coins decoupling from the Bitcoin monster. It's sad to see Bitcoin dwindle away and so many people lose their money, but it has to happen this way. Bitcoin cannot do what we need it to do.
we need demand more other basecurrency on exchanges - bitcoin and litecoin are not cutting it. More altcoins to fiat exchange directly!!!! Bitcoin holds all coins down!!!
|
|
|
|
|