I wish we could stop posting articles under a paywall
Why?
Bitcoin is no long the only game in crypto-currency town
21–30 of 96 posts
Re: Bitcoin is no long the only game in crypto-currency town
#22I recommend you check out https://raiblocks.net if you're looking for a currency that could compete with Bitcoin as a means of payment. The tech is smart as hell.
Re: Bitcoin is no long the only game in crypto-currency town
#23Erm... it hasn't been the only crypto in town for a long time now. But I guess these kind of publications have only relatively recently caught up with the fact Bitcoin exists at all.
Re: Bitcoin is no long the only game in crypto-currency town
#24I wish people would stop using market cap as if it was meaningful for cryptocurrencies. A lot of these coins are traded at low volumes on unregulated exchanges that allow wash trading and other means of manipulating prices. Even were that not the case and they had meaningful price discovery mechanisms 'market cap' would be a meaningless metric because if someone were to buy all the coins, they'd have destroyed the va…
I recently created my own cryptocurrency, UCaetanoCoin (UCC), with a supply of 100 trillion and one coins, all owned by me.
I sold one to a friend of mine for $0.01 yesterday, which made me not only the richest person in the world, but also the first trillionaire, as the coins I own are valued in $1T USD.
And my UCC has a market cap of $1T USD (and one cent).
Then I exchanged a single coin with myself for $0.01. As my coin has zero transaction cost and instant transactions, I traded it back and forth with myself 100 quadrillion times.
This generated a total traded value UCC-USD of 1 Quadrillion Dollars yesterday.
Anyone wants to invest on my UCC?
Re: Bitcoin is no long the only game in crypto-currency town
#25"Even Facebook has reportedly started looking into creating a token. Should the world’s biggest social network ever make that move, bitcoin’s days as the leading crypto-currency would almost certainly be numbered"
> this is a paradox, blockchain technology's best use case is decentralization of data (and power from companies like facebook). And if Facebook issues crypto coin and it starts dominating the market (not necessarily) then we are back at square one.
Re: Bitcoin is no long the only game in crypto-currency town
#26Bitcoin 10 minute block generation times is an inherent problem that unless changed, will doom the protocol to its eventual death. It's like trying to make a 56k modem work, when broadband is available. When litecoin came around a few years ago these were abstract problems, but now that transactions with $10 fees take 36 hours to confirm... the issues are real and a switch needs to happen. Lightning network or not, t…
10 minute block generation time is not a problem at all. What's a problem is every block being full.
Re: Bitcoin is no long the only game in crypto-currency town
#27"Even Facebook has reportedly started looking into creating a token. Should the world’s biggest social network ever make that move, bitcoin’s days as the leading crypto-currency would almost certainly be numbered" > this is a paradox, blockchain technology's best use case is decentralization of data (and power from companies like facebook). And if Facebook issues crypto coin and it starts dominating the market (not n…
I agree with you, but that's idealistic. See: Ripple (https://ripple.com/)
Re: Bitcoin is no long the only game in crypto-currency town
#28I recommend you check out https://raiblocks.net if you're looking for a currency that could compete with Bitcoin as a means of payment. The tech is smart as hell.
And who cares? Nobody is accepting raiblocks as a payment. There are more engineers working on Bitcoin and far more infrastructure around Bitcoin. All these altcoins are pump and dump schemes.
Re: Bitcoin is no long the only game in crypto-currency town
#29I recommend you check out https://raiblocks.net if you're looking for a currency that could compete with Bitcoin as a means of payment. The tech is smart as hell.
The surrounding developer community is getting more and more active. I recently joined the #development chatter on Discord(https://chat.raiblocks.net)
Feeless, near-instant transactions could displace a lot of the coins out there, if they can solve all attack vectors.
Re: Bitcoin is no long the only game in crypto-currency town
#30Earlier quoted context omitted.
That problem isn't a result of the 10 minute blocks. A 0-confirmation transaction normally is just fine. These are available on Bitcoin Cash.
A 0-confirmation transaction normally is just fine. It's really not fine at all. The competition is full confirmation transactions on a debit card or bank account in seconds with much lower or zero fees.
>seconds
At PoS systems in the US, it's typical to have to wait 30+ seconds for chip cards to go through. I'm guessing that this has more to do with the PoS system / slow internet connection for the store / slow network on the back-end card network, but cryptocurrencies would need to be sub-minute to be ~acceptable for in-person retail transactions.
Until that is solved, until cryptocoins are more than speculative securities where the value is only the current market price on a handful of exchanges, and until you can use them to realistically buy and sell things instead of using cash or a credit card, I don't consider them a "real" currency (by my own definition). I DO hope that it gets there some day, but I don't see that happening for at least another 5 years, likely with quite a few people who put a significant amount of money into it getting burned quite badly.