Quote from: phantastisch on June 22, 2014, 12:27:41 PM

Quote from: Totem22 on June 22, 2014, 12:17:34 PM

Quote from: phantastisch on June 22, 2014, 11:53:20 AM

There is one thing that i'm asking myself.

Why would we need NEM ?

It is absolutely blowing my mind , that there are people who think NEM will be their Bitcoin Rocketstart into wealth.

Why ? Because this time there a new people as Stakeholders ? Because the System is new , developed from the ground up and with another chance for catastrophic bugs or failures ? Is there really a need for another POS Coin ?

Baffles me and makes absolutely no sense in my mind...

(I'm also asking myself why we need NXT, but that is another story for another day.)

http://marginalrevolution.com/marginalrevolution/2013/12/how-and-why-bitcoin-will-plummet-in-price.html

I disagree with this article , two points :

- Network strength , keeping the network secure is expensive , this is priced in.
- There are thousands of competitors now with better features, even trying to be fully anonymous. Do these free markets only work under the network effect or where are my cheap bitcoins ?

New algorithms like POS, POI could be promising in cutting down the cost for security. I am not a tech expert, but imo at this early stage it is biased to declare that only POW will work.

The key point is that "supply-side arbitrage has not worked its way through the value of Bitcoin". Bitcoin organizational model is a puzzle to solve well and it takes times for people to figure out the new decentralized organizational model.

Bitcoin will keep its hold on crypto world for a foreseeable future due to the network effect, specifically efforts from ecosystem players such as Coinbase, Bitpay, Gift etc. but I don't think it is impenetrable, even though it take a lot of efforts and creativity though.