Quote from: dinofelis on March 27, 2017, 12:48:13 PM

Quote from: artik123 on March 27, 2017, 12:33:07 PM

You are right on target.

Why should I care of Bitcoin? I *really* want the best guy to win. atm as I see it Bitcoin is limiting the rest and open sky is much better for all of us.

though I did have Bitcoins in the past but now I don't. But as a general rule, I see no problem with other technologies breaking through. This is how we evolve.

--> Amen. The REAL REASON is that the bitcoiners are in it for the greater fool game, and want to become immensely rich because they are from an earlier layer of greater fools than the "rest of the world who needs to adopt bitcoin and only bitcoin". They are in it for the seigniorage, and so they don't want to share the rest of the supply of greater fools with other coins, even if that means that we are stuck with the oldest and most primitive crypto currency design.

If they were for the economic value of bitcoin, namely "enabling commerce where such was not possible/difficult/dangerous/expensive with fiat means", that is "an internet payment system", then they wouldn't mind having competing tech aiming for different niches. But they are not in it for the currency usage of bitcoin, they are here, sitting on their stash as early adopters, hoping it will go to the moon, and they will be able to retire early on the seigniorage, paid for by the rest of the world of greater fools.

That said, all of the alt coin scene is mostly also a greater-fool game where you hope to get in early, and others will pay much more later for the stuff you got cheap.

Essentially, crypto largely failed as of today. Its economic value is minuscule, and it is for 99% a greater fool casino. I'm not saying it is dead, but it is a laboratory that turned into a casino. In fact, one can mainly study it to see what doesn't work.

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That said, all of the alt coin scene is mostly also a greater-fool game where you hope to get in early, and others will pay much more later for the stuff you got cheap.

Essentially, crypto largely failed as of today. Its economic value is minuscule, and it is for 99% a greater fool casino. I'm not saying it is dead, but it is a laboratory that turned into a casino. In fact, one can mainly study it to see what doesn't work.

On this one we disagree.
Yes, there are tones of fools, but wise man can make a fortune. It is an experimental lab so many *will* fail.

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Its economic value is minuscule

I only see the upside of that.

Alts are like penny stocks, but with an enormous upward pressure. So so the odds are better than any other conventional stuff.
One can make a lot of mistakes and still survive.