Quote from: smooth on July 19, 2014, 08:18:29 PM

Quote from: werrindor on July 12, 2014, 06:32:59 PM

Quote from: David1978 on July 12, 2014, 06:16:57 PM

Quote from: giveBTCpls on July 12, 2014, 01:09:24 PM

Monero and Fantomcoin, the rest of cryptonote coins are legit jokes.

Oh, you gotta be joking then.

Thats an interesting logic there. We all know that Fantomcoin and Monero are Bytecoin's forks. So if we call Bytecoin a joke, Monero and Fantomcoin become forks of a joke which sounds absolutely unpresentable. Grin

There is this popular myth in the altcoin space that "forks" are inherently bad, which follows from the (correct) observation that most if not all bitcoin "forks" have been done as pump-and-dump scams.

But the underlying premise is false. If you understand the history of open source software, forks are both intended and desirable, and even necessary to maintain a balance of power between developers and the wider community. Specifically when the original developer goes in a direction the wider community does not support, then other developers are able to fork, and the community is able to move its support from the original to the fork.

This is exactly what happened with Bytecoin and the premine/ninjamine/whatever, trolling, sock puppet accounts, non-transparent history and developers, etc.

This kind of shady behavior was not supported or accepted by the community which is why nearly all support (as measured by hash rate, trading volume, thread views, or any other sensible metric) has shifted to Monero.

Bytecoin could have capitalized on its position as the first cryptonote coin and maintained a leadership position, but they blew it. They have no one to blame but themselves.

The difference between most open source software and altcoins is that when open source software is forked, the fork retains everything that the original had. Take OpenOffice and LibreOffice for example. An OpenOffice user had nothing to lose by switching to LibreOffice. Therefore the community benefits and everyone wins. When a coin is forked, everything is retained EXCEPT the original blockchain. When this blockchain dies, so do the investments of an entire community who believed in the old coin's success. If I were a Bytecoin investor, it would be in my best interests to see Monero die. If I were a Monero investor, the opposite would be true. If either coin becomes dominant over the other, the community wouldn't win. Rather, one community would win at the expense of the other.