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Author Topic: What's the purpose for other alternate cryptocurrecies?  (Read 1450 times)
localhost
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July 19, 2012, 09:58:43 PM
 #21

yea just like google was for people who missed the yahoo early investment window and wanted to try to get rich becoming an early investor of a useless search engine..
Google provided better results and an enjoyable place for people who like being spied on by Big Brother. LTC doesn't provide such kinds of improvement over BTC: all that can be done with LTC can be done with BTC too... apart for pumping and dumping, of course... All I see is those who mined a big stash during the few first days trying to boost the value of their investment... A bit like SolidCoin, actually (and we see where it is now).

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July 19, 2012, 10:04:56 PM
 #22

Bitcoins will likely be the first of the blockchains to get hit with all kinds of rules and regulations, because it keeps trying to be "real money" and if it succeeds in becoming that, it will suddenly suffer all kinds of horrible disadvantages due to various rules and regulations applying in various jurisdictions.

Blockchain based tokens that are NOT "real money" have real usefulness because people can play all kinds of fun games with them without having entire in-game economies attacked by and possibly crippled by rules and regulations from the planet known as Earth, a planet which all or most of the population of the game considers to be a totally fictional planet and even if by some weird quirk of fate it did turn out not to be fictional certainly to have no jurisdiction over them.

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July 20, 2012, 05:26:08 AM
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Bitcoins will likely be the first of the blockchains to get hit with all kinds of rules and regulations, because it keeps trying to be "real money" and if it succeeds in becoming that, it will suddenly suffer all kinds of horrible disadvantages due to various rules and regulations applying in various jurisdictions.
If they start regulating one cryptocurrency, there's no reason why they wouldn't regulate all of them in the process... the only way to go is to make sure cryptocurrencies remain unregulatable...

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July 20, 2012, 05:34:36 AM
 #24

If they start regulating one cryptocurrency, there's no reason why they wouldn't regulate all of them in the process... the only way to go is to make sure cryptocurrencies remain unregulatable...

Regulating cryptocurrency will have inverse effect, just like on drugs.
Price will start skyrocketing and people can still get drugs now by whatever means necessary.

BTC : 1GN81dxzxyFPQsyAtdocXr5S9Mcg4wcfFG
LTC : LgmYvXsYXc4xdjsMKXJWqtagxVvioK6iaw
FC : 6dpSnKMtttUUYzaRu1EB7Lu18PBRVHU3V7
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July 20, 2012, 10:50:35 AM
 #25

yea just like google was for people who missed the yahoo early investment window and wanted to try to get rich becoming an early investor of a useless search engine..
Google provided better results and an enjoyable place for people who like being spied on by Big Brother. LTC doesn't provide such kinds of improvement over BTC: all that can be done with LTC can be done with BTC too... apart for pumping and dumping, of course... All I see is those who mined a big stash during the few first days trying to boost the value of their investment... A bit like SolidCoin, actually (and we see where it is now).

well obviously the analogy isn't perfect, but I am just using it to refute those who claim ltc is redundant or worthless due to bitcoin already existing.

true story: back many years ago now (sometime around 1996-1997 maybe, i dont know exactly) I walked into my school computer room, sat at a computer and saw a minimalistic white page with only a search bar on it that someone had left on IE. I thought wtf is this? Rather than going to yahoo like normal I typed something in and used it. Immediately I thought 'wow this is easier to use than yahoo'. From then on I only ever used google.

Looking back with 20/20 vision google is now a giant, however at that time in 1996 anyone could have said to google investors: hey you are wasting your time with this nonsense, google is redundant. There are already services that do the same thing (yahoo etc). I don't care if its a bit faster (ltc parallel: faster confirms), cleaner webpage, different search algorithm (ltc parallel: scrypt instead of sha) those are not 'significant' enough differences from yahoo. GTFO this will just be a pump and dump.

When I first used ltc I got the same feeling.. its just easier and more comfortable to use. Now I don't know if ltc will ever take off- its a real punt lets face it, but the potential is there and there is a long shot none zero chance of extreme success. It should not be ignored just because it is 'too similar' to bitcoin.

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