Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
justusranvier
on 04/11/2014, 07:12:38 UTC
how are those cheep coins working for you  Smiley OT can be as decentralized as using a BitTorrent client to assess the BitTorrent network, 100%  decentralized, and available without a prototypical change why so insistent SC are better?  

FYI inflation in value on a SC is what prevents one converting back into BTC, one want to use the value enabled by the SC, and if it isn't there you want to convert back the BTC.

I will be honest I haven't looked into OT in much details but if I understand it right, can the same concern you guys parade around not be applied to OT as well?

If OT gains traction and develops innovative utilities then is it not right that most txs would occur on their network and would be even more dangerous for the miners than SCs?
OT is a contract processing system. It's used for managing financial instruments (liabilities).

This is fundamentally different than Bitcoin, and most likely will not be used for the same things.

Sure, you can use something like it to pay for you groceries in a store. But anyone who added OT to their cash registers could just as easily add direct Bitcoin payments.

You'd be more likely to use OT to create, securitize, and repay a loan on a periodic schedule.

This is something completely disjoint than what you'd do with Bitcoin.