Galacon, it is time for Galacoins

jacky8

jacky8

New member
Mar 16, 2008
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Build your own.

Easier than shit

Coingen

Coingen Status

I found this a couple of days ago. Expect hundreds of new coins to be launched within 2 weeks. Expect massive dumpage of shitty cryptos on all sorts of exchanges.
 


MushroomCoins incoming...

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I'm pretty happy about Coingen. The flood of thousands of new altcoins is going to destroy the demand for alts entirely this year, and FINALLY some of you die-hards are going to learn what the real value of a bitcoin is.
 
lukep said:
I'm pretty happy about Coingen. The flood of thousands of new altcoins is going to destroy the demand for alts entirely this year, and FINALLY some of you die-hards are going to learn what the real value of a bitcoin is.
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What is your take on the alts that serve a secondary purpose like Namecoin or Protoshares?
 
Unarmed Gunman said:
What is your take on the alts that serve a secondary purpose like Namecoin or Protoshares?
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My 'take' on them is that they would be useful if they built their services on the bitcoin blockchain, where all the hashing is done.

5-10 years from now, we won't be calling it the "bitcoin blockchain." -There will just be one single blockchain on this planet and all of us will have our money on it, our legal contracts on it, our notarized documents, our DNS functionality, our IOUs, our credit reports, etc... It will be so useful because it is so much more powerful than all other forces that could attack it.

Altcoins will still be cute little toys and spare parts pools for bitcoin, but 100% of the value of a blockchain is in its' strength.

If you really want to try to estimate the 'true worth' of a bitcoin, think of it as a stock issued on a company that holds everyone's money, legal documents, credit reports, DNS, etc... Effectively.

How much would 1 share of a stock be worth if a company that did all of that, without the ability to be corrupted, and even had the power to tell regulators to go F themselves? And you knew there would never be more than 21 Million shares issued?

A hell of a lot more than $1000. Can Berkshire Hathaway do even half that? 1/10th of that?

If you really want to understand this stuff, listen to everything this man says:

[ame="http://www.youtube.com/watch?v=JP9-lAYngi4"]http://www.youtube.com/watch?v=JP9-lAYngi4[/ame]

Andreas has tons of YouTube vids on bitcoin, and they're all worth watching.
 
But in that video he does express some uncertainty as to whether Bitcoin will be the cryptocurrency that wins. ie. some unforeseen problem in Bitcoin could lead to the rise of another. And he does say that it is very far from being a safe investment.
 
Bombastic said:
But in that video he does express some uncertainty as to whether Bitcoin will be the cryptocurrency that wins. ie. some unforeseen problem in Bitcoin could lead to the rise of another. And he does say that it is very far from being a safe investment.
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He's a careful guy. Since he's not nearly as anonymous saying that as I am saying what I do, It's only prudent to put in all of those limited liability clauses.

At some point you have to stop listening to others and start deciding for yourself what it's capable of and what the future holds on your own... After much study and inflection, I'm quite convinced that nothing is going to take down the blockchain since the incentives are there to always keep it growing. -And that goes for both external and internal threats.

Besides, Bitcoin's biggest enemies are destroying themselves at the same time so really there isn't anything that is a threat anymore now that the hash rate is so difficult to match.
 
lukep said:
There will just be one single blockchain on this planet and all of us will have our money on it, our legal contracts on it, our notarized documents, our DNS functionality, our IOUs, our credit reports, etc... It will be so useful because it is so much more powerful than all other forces that could attack it.
Click to expand...

Oh, god... not only is the blockchain going to replace the global reserve currency, guys like Equifax and TransUnion are also going to switch their database storage over to it, plus it's going to handle DNS for us!

God damn, this whole blockchain thing is pretty good...
 
Kiopa_Matt said:
Oh, god... not only is the blockchain going to replace the global reserve currency, guys like Equifax and TransUnion are also going to switch their database storage over to it, plus it's going to handle DNS for us!

God damn, this whole blockchain thing is pretty good...
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Instead of dripping sarcasm out in posts like this, why don't you take the time to find out if what I say is possible?

And then once you know how possible it is, find out what incentives are driving these things to be adopted?

It saddens me that so many smart people here don't seem to look at the incentive structures in place for anything. The proper incentives make or break everything.
 
even the bible predicted this stuff.... dismissal of physical currency

people were saying the same thing when bitcoin was $12.....

if there's anything we know.. history has a way of repeating itself.

the internet just replicates real life

other coins will emerge... my guess, use of them will diversify in some way

none will reign supreme over Bitcoin for some time

bottom line...... and thing we should all be seeing though

PEOPLE ARE MAKING MONEY..... i think that's the point we should be focused on

How can we make money off these surges.. not 'if it will last'
 
lukep said:
Instead of dripping sarcasm out in posts like this, why don't you take the time to find out if what I say is possible?

And then once you know how possible it is, find out what incentives are driving these things to be adopted?
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Just because it's possible, doesn't mean it's realistic or the best solution.

For example, do you have any idea what would be required to transfer handling of DNS records over to the blockchain? I'm quite confident most ISPs and hosts will stick with bind and IPv6.
 
lukep said:
Instead of dripping sarcasm out in posts like this, why don't you take the time to find out if what I say is possible?

And then once you know how possible it is, find out what incentives are driving these things to be adopted?

It saddens me that so many smart people here don't seem to look at the incentive structures in place for anything. The proper incentives make or break everything.
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LukeP, you're telling me that a bunch of people are going to start using internet air to make purchases. Are you a moron? That will never happen. You're crazy.
 
You are one poor lunatic. And a very shitty missionary. If you aren't a bitcoin millionaire by now, that means you have initially invested less than 1k at the time when you've already preached it like it was the one and only thing to replace all other things. You've legitimately ascended. "Here's my god. Serve it or else"
 
Coingen points out the absurdity of all the tweak-two-variables-and-recompile altcoins.

People often throw around the "altcoins create cryptocurrency competition" platitude, but the sentiment falls flat when referring to a trivial fork of Bitcoin's source code.

It's like forking Ruby on Rails into Nuby on Nails, swapping BCrypt for PBKDF2, and announcing your new Nails framework as an "alternative approach to web development" while pouring the rest of your marketing effort into overselling the merits of PBKDF2 and confusing less technical people with claims that don't really matter.
 
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