Some people argue that Bitcoin is unfair because:
- it dramatically favored early adopters with ~ 10000x returns.
- the coin distribution policy (halving every ~ 4 years) could make it unsustainable to mine in the long-term or drive the prices/fees even higher
- the hash algorithm has been taken over by ASIC industry (still it created a monster network with tremendous hashing power making it near impossible to break)

Altcoins can alleviate this problem by different approach to all above issues.

In my opinion, they are welcome to the crypto - ecosystem. Sure, some have weaker network hash rate which might make them less secure than bitcoin and other disadvantages due to reduced block time (orphan blocks) but still very very welcome.

I reccomend highly coincheckup.com for a lot of information on altcoins.

Dear all,

There are a lot of different algo's for the altcoins nowadays with pros and cons : gpu friendly, asic resistant, etc.

Is it possible to conceive a new algorithm that is a combination of others (like x11, sha256, scrypt) which can be referred to as methods. Then the algorithm which involves running several iterations methods depending on the result of the hash itself. Finally, after a number of iterations, it can settle on the first hash result which is lower than the network difficulty.

To my mind, this would be a major hurdle in developing ASICs.

Opinions?

Interesting idea. Why exactly would you want to do that though? For extra security on your wallet there are many things to do like encrypting wallet, creating new wallet instance and taking the private keys completely off Internet, etc. I don't think the node #2 (inside the secure net) will be able to transfer/receive anything from the main network without being synced in the first place. True it is getting sync only from node #1 but node #1 does not have any control over what goes on the main network.

Also as a suggestion you might try to see if second node 192.168.1.15 can communicate over the Bitcoin ports to the first node (maybe that is the reason it doesn't connect).

Regards

I don't think it is in a bubble. It is an immense topic that has generated a wealth of knowledge and attracted many semi-technical enthusiasts who get in the depths of the underlying blockchain technology. More and more as I am just walking I hear random people talking about bitcoin.