Re: Altcoins are a prisoner's dilemma and not possible to beat uᴉoɔʇᴉq
Unless you were an early uᴉoɔʇᴉq miner, everyone could be far better off and more wealthy by abandoning BTC and switching to some random turdcoin. The problem here is, so many altcoins exist, either with invalid security models or negligible feature differences from uᴉoɔʇᴉq, that there can never be convergence on which turdcoin the crowd should abandon BTC for and switch to.
The next problem is, even if by some miracle of gawd this actually did happen, you would be degrading all credibility of your own crypto as a store of value at the same time. If a random turdcoin could pass or even get close to uᴉoɔʇᴉq, it would mean that at any time your new coin could just as easily be overthrown and go to zero. This means the only logical move is likely to go with BTC or just stay out of the game period.
The next problem is, even if by some miracle of gawd this actually did happen, you would be degrading all credibility of your own crypto as a store of value at the same time. If a random turdcoin could pass or even get close to uᴉoɔʇᴉq, it would mean that at any time your new coin could just as easily be overthrown and go to zero. This means the only logical move is likely to go with BTC or just stay out of the game period.
Came to that same conclusion about BTC, because trying to mine it only cost me FIAT.
IMO,
here are the feature difference that will define the Last Coin Standing.
1. It will be Proof of Stake, where the coin has it own intrinsic value because of its ability to reproduce more.
reason : Proof of Work is a failed ecosystem as it will always end up in the hands of the elite (that can afford to keep upgrading asics)
2. Plus it has to have a minimum of 15 days before 1st stake and a minimum block time speed 1½ minutes or lower.
reason : Coins that allow blocks to stake in 9 days and less , give an unfair staking advantage to the rich as they can actually block the poor from being able to stake.
3. Coin has to have a use outside of the Crypto World as a direct form of Barter for materials & services in the real & virtual worlds.
4. Coin has to have an interest rate at least 5% but less than 11% per year.
reason : 5% makes it a competitor to stock dividends , over 11% and it will have trouble adding value to keep the price was falling.
That is my opinion, and I will even go so far as telling you the coin that in the end will succeed over BTC and any that follow.
ZEIT will be the Major coin over all.
reason : ZEIT is not a get rich quick scheme, it is an undertaking to give everyone a virtual resource for direct barter Free from the Shenanigans of the Corrupt that Pretend to Govern but in reality merely exploit the entire Human Race.
Here is the main difference, ZEIT has a Growing Force , know as The ZEIT Knights , whose very act of coming together to make a difference , will in fact change the fabric of monetary reality as we know it.
As a ZEIT Knight , I care nothing for FIAT, nothing for BTC , and nothing for LTC, all are only an ends to a means to make ZEIT Strong enough to repair this damaged world.
As far as the concern ( coin value going to zero ) , the Knights will Never Allow that to Happen!
Example:
Right Now All of the Coins are like kids playing a game of chicken by swimming out as far as possible, and the last kid that is farthest out wins as the others lose strength and faith in their chances of winning and give up and return to shore.
@ZEIT we understand that this is our Last Chance to Stop the already underway Dystopian reality before it engulfs us.
So we're not competing like the others saving our strength to swim back to shore if we fail like the others,
We are marshalling everything we are and we're are going to make it to the other side no matter what the others do including BTC, too much depends on us , failure is not an option.
Time will show you , if I speak the Truth or just the ramblings of an ancient mind.
