Quote from: CryptoTramp on December 11, 2013, 09:13:13 AM

Quote from: thijzen on December 10, 2013, 02:12:35 PM

Quote from: bitbox on December 10, 2013, 01:08:15 PM

I wouldn't spend too much time on new cryptos, but don't mind to give them a go and mine a few.

Actually I think most growth is in alt-coins although they are even more volatile I think only a few good ones will survive and potentially even replace bitcoin as they offer some important improvements (bloated blockchain, transaction confirmation time, scrypt etcetera). I mean, there were social networks before facebook...

I personally believe that it I physically and economically unfeasible without alt currencies because there are only 21 mill BTC even with 10 decimals we can do even smaller transactions in alt currencies because not everyone has dollars/ euros/ pounds to invest. Some a re investing Baht, Tanzanian Schillings and even Indonesian or Vietnamese currencies, etc. How can you want to make a transaction so close to actual high valued fiat currencies and not want to save your fractions of pennies/ eurocents/ pence when they are valuable in otherparts of the world. BTC will be the Virtual unofficial Digital US Dollar (currencies of international trade) nd Alt currencies will become the future of microtransactions (i.e. the rest of the worlds transactions)...... Food for thought... thought I would try to improve level of talk to bump up some seniority levels.... Let me know what y'all think.

Good point CryptoTramp, I completely forgot about max amount of BTC coins. According to http://en.wikipedia.org/wiki/Gross_world_product Gross World Product was over 70 trillion US dollars back in 2012. If the whole world was going to switch over to BTC one day, then each Bitcoin would cost more than $3,000,000. This sounds insane

And as you mentioned - every penny counts in fiat money. So it seems that BTC cannot survive without alt-coins. I have to look at some of them closer Wink