Quote from: toknormal on February 07, 2015, 04:04:42 AM

Quote from: solex on February 07, 2015, 03:31:00 AM

If Bitcoin were to hit some limit, I dunno what, just maybe there is a limit in the code which people might start writing threads about on bct, but anyway, if Bitcoin hit some limit and couldn't scale anymore, then the network effect is arrested. Bitcoin, just being software that can be copied does not have the privilege of gold which is a rare physical element.

In fact it does have the "privilege of gold".

There are plenty of other metals that are as scarce as gold (such as platinum). There are also plenty other earthly materials which are as scarce.

Scarcity is essential but it isn't everything. "Everything" is network effect. Network effect is far harder to attain than anything else. For evidence of that check http://www.coinwarz.com/cryptocurrency

The network hashrate (in other words, "interest in mining the coin" of bitcoin is 364 Peta hashes). The nearest altcoin in terms of hashrate is Mazacoin at 80 Terra hashes.

So, for the purposes of this example, lets use hashrate to test your theory that

Ergo, your "theory"is complete B.S. because Bitcoin hit all sorts of limits ages ago - not anonymous, not fast enough, slow confirmations, huge blockchain - and yet, still no altcoin can get near it in terms of market cap or hashpower.

Meanwhile the only reason Bitcoin still "has" that value is because it is the cryptocurrency reserve and there are altcoins "out there" which solve all Bitcoin's technical problems.

You're an altcoin fanboy. What are you doing in this section?
You probably favorize due to wanting to find a 'get rich' opportunity just like Bitcoin was.
10min confirmation times are excellent. The more you lower it, the worse the currency is.
Good luck getting a government to accept an altcoin that is completely untraceable. You would probably get sued for using it if they found out. The fact that the governments even ignore them means that they negligible.

By the way, the thread is going way too off-topic. It was concluded in another thread that a fork is the right move.