Quote from: Peter R on May 28, 2014, 07:15:24 PM

Quote from: r0ach on May 28, 2014, 06:55:41 PM

Quote from: Peter R on May 28, 2014, 06:27:07 PM

Personally, I support the spin-off mechanism for launching new experimental alt-coins. Bootstrapping the coin with a Blockchain-based initial coin distribution

Your one world currency, Bitcoin dictatorship model is not in the best interests of the public, traders, or virtually anyone except a small percent of Bitcoin holders, so there's little reason for anyone to support it. All it does is reward dumb money investors.

The beauty of spin-offs is that they hardly require active support. To kill a spin-off, bitcoin holders need to actively vote against it. If they are impartial, they have no effect on the price. Alt-coin are the opposite: they require people to actively vote for it. I am looking forward to the launch of the first spin-off clone of an interesting alt. It will be fascinating to watch the market caps of the clone vs the original.

It is also important to note that the economic majority within the cryptocurrency community will naturally be impartial to spin-offs, since these individuals preserve their wealth whether the spin-off sinks or swims.

The only argument I can see against spin-offs is that the distribution of wealth in bitcoin is somehow "unfair." I don't think this view will garner much sympathy, however.

It doesn't have that big of a future. If a developer wants fame or recognition, they will start their own coin rather than stay in BTC's shadow. If a developer wants profit, they will start a coin, buy while it's low or have some kind of IPO or something, then build features to increase their worth. It's not really something that interests traders as much either compared to the altcoin penny stock lotto.