Post
Topic
Board Altcoin Discussion
Re: rpietila Altcoin Observer
by
drawingthesun
on 04/09/2014, 19:29:16 UTC
Crypto currencies function by no decree. They are decentrally produced.

Bitcoin is centrally produced for mining (Ghash.io + any other pool have > 50% of hashrate) and protocol development.

With the coming ETFs and other offchain entities, it will soon by top-controlled for investment and transactions too.

Raise your hindquarters in the air for some Butthurt.

The ETF doesn't really matter though, financial instruments will be constructed of any worthwhile asset, you can never stop that.

Offchain solutions are the real problem, if Gavin and Co are incorrect in their analysis that technological progress will eventually lead to a network that is as fast as VISA/MASTERCARD/PayPal, then offchain payment processors will become the only way Bitcoin hits the masses. If this happens it will make room for a competitor that is natively as fast as VISA without needing to sell its soul to the devil. (payment processors)

This comes down to your confidence in the words of the Bitcoin core team. I see that you believe that they will be proven wrong and Bitcoin will not scale.

I agree and disagree. I believed in a concept I call the greed incentive, that a software will become extremely well designed and capable if all the participants of that software are going to be rewarded beyond their wildest expectations with the continued success of that software.

I still believe in that concept, but I think that a more agile team willing to take risks has more chance of succeeding by implementing the changes needed. For some reason bitcoin has not been changing, it's too afraid.

I am hoping the Monero team realize that ideal of mine, that they will continue to push the technology.

I have faith that monero could be the beginnings of this perfect coin.