Quote from: georgem on December 21, 2013, 05:23:49 PM

Quote from: pabloangello on December 21, 2013, 04:50:42 PM

Same audit he and many others can make for bitcoin, litecoin or whatever. In every coin existed right now you will find something that could be better, something that seems not right etc.
And another big fact to mention - this is all decentralized!! People (WE) decide what to buy for long term, what to pump, which to dump which to hold right now etc. We are the living organizm together that has its moods not necessarily consistent with the facts.

Yes, and although I think this community feeling is awesome and important.... if the underlying mathematics ARE FLAWED then community is pretty much useless.

Remember, the reason why cryptos exist in the first place is because the underlying mathematics are an incredible breakthru for humanity. No need for central authority or trust.

First priority is always sound mathematics.
Second priority (once first priority is established) is a good community.

You can't have the second without the first. But you can have the first without the second.

Let's imagine the bitcoin algorithm never appeared on the world stage... no amount of good-hearted community would have created this phenomena we see now. People created complementary currencies all the time in human history, but they ALWAYS faced problems like counterfeit and doublespend, and therefore never really were successful enough to challenge the status quo.

So good mathematics is the enabler of cryptocoins. It's what makes the dream a reality, so a community of awakened people can grow around it.
If you try and do that without mathematics, you are only creating a cult, a religion, based on wishful thinking.

Quote from: pabloangello on December 21, 2013, 04:50:42 PM

We have no ideal coin yet and without a monarchy or tyranny we will not have one coin that is "the best" in all.

Wait a minute. What will make a coin the best is free market competition and therefore a real tough evolution where only the best survives, and losers disappear.
It has nothing to do with a monarchy or tyranny. I don't understand how you can spin it this way.

not claiming "the best" mathematics just claiming as secure as Bitcoin - that's all -

people have personal differences about the SHA256 being designed by the NSA and registered with NIST - , but personally i don't find this a huge issue -

its a non issue for me -

i have always had a problem with the centralization - and distribution model =