Quote from: drawingthesun on September 04, 2014, 07:29:16 PM

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

Perpetual debasement Whac-A-Mole.

Quote from: drawingthesun on September 04, 2014, 07:29:16 PM

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)

It is clearly possible to design a crypto-currency that can scale way beyond VISA/MC/PayPal and remain decentralized for mining. Don't expect it from Bitcoin though.

But that is not what will prevent offchain from proliferating, although it is a first requirement. Offchain is used because it is more attractive, convenient, and easy for the user.

I believe there is a solution. But it is currently one of my secrets that I am not yet willing to share publicly.

Quote from: drawingthesun on September 04, 2014, 07:29:16 PM

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.

Yup. And if I was Risto, I would have invested in at least a dozen startup altcoins, trying to find the one that could innovate and hit a homerun. Letting your capital sit in Bitcoin is such a waste of scarce time. But I don't fault him, because venture investment doesn't appear to be his forte.

At least he started this thread, and he did bring in more serious interest into altcoins. So I shouldn't downplay his role too much.

Risto you are not just laying down. You are also actively trying to find better solutions.

Risto trying to pick the winner reminds me of the government agencies trying to pick the winning technologies, e.g. China provided incentives to push into solar and now solar didn't pan out and going bankrupt.

Quote from: drawingthesun on September 04, 2014, 07:29:16 PM

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.

They might.