Let's face it, the protocol has major flaws

Pekelo · Jan 16, 2014

Quote from ElCubano:

I think all pekelo's concerns which have great reasoning would be priced Into bitcoin

I didn't care about the price, I brought up the protocol, because the Bitcoiners think that this is the best and most perfect thing created since Jesus.

When in reality, there are much better alt coins, if we believe in digital currencies...

ElCubano · Jan 16, 2014

Quote from Pekelo:

I didn't care about the price, I brought up the protocol, because the Bitcoiners think that this is the best and most perfect thing created since Jesus.

When in reality, there are much better alt coins, if we believe in digital currencies...

oh ok it must be another pekelo. The one that's always talking about yet another crash.

peilthetraveler · Jan 16, 2014

Quote from Pekelo:

I didn't care about the price, I brought up the protocol, because the Bitcoiners think that this is the best and most perfect thing created since Jesus.

When in reality, there are much better alt coins, if we believe in digital currencies...

This is true. Much better alt coins, but bitcoin has the biggest following and will likely always be the "reserve" currency of all the other alt coins.

If you really want to see people get excited about an alt coin though, check out dogecoin. Only a month old and already almost 30,000 reddit subscribers for that coin! Usually trades in the $300k to $1.2 million in volume per day. I decided to skip playing my lottery tickets this month and pick up a few hundred thousand coins, just based on their enthusiasm.

Pekelo · Jan 17, 2014

Quote from peilthetraveler:

This is true. Much better alt coins, but bitcoin has the biggest following and will likely always be the "reserve" currency of all the other alt coins.

This is a rather false assumption. First, you just proved with the dogecoin example that adoption can be really fast, when the masses get excited. Second, if one coin has a faulty protocol that gets missused, and the other doesn't the choice is rather obvious.

Third, Myspace vs. Facebook.

newguy05 · Jan 17, 2014

Quote from Pekelo:

This is a rather false assumption. First, you just proved with the dogecoin example that adoption can be really fast, when the masses get excited. Second, if one coin has a faulty protocol that gets missused, and the other doesn't the choice is rather obvious.

Third, Myspace vs. Facebook.

you have no idea what you are talking about...

not a single clue...

nope...

again for the 100th time

1) bitcoin does not have a faulty protocol
2) adoption is one of the most difficult challenges for a virtual currency, what bitcoin did was a lot of luck and nothing short of a miracle.
3) go load up on the other alt coins then...

Pekelo · Jan 18, 2014

You know, repeating yourself doesn't make you right...

Quote from newguy05:

1) bitcoin does not have a faulty protocol
2) adoption is one of the most difficult challenges for a virtual currency, what bitcoin did was a lot of luck and nothing short of a miracle.
3) go load up on the other alt coins then...

1. You really have to familiarize yourself with bitcoin if you plan on putting money into it. The 51% attack makes it a faulty protocol, period.
2. Actually Litecoin's adoption rate is much faster than BTC's was, and what kind of genius invention is BTC, if it has to depend on LUCK???
3. Irrelevant to the discussion, which is the faultiness of the BTC's protocol.

But I will be nice to you and put you on Ignore so I don't have to read your drivel...

newguy05 · Jan 18, 2014

Quote from Pekelo:

You know, repeating yourself doesn't make you right...

1. You really have to familiarize yourself with bitcoin if you plan on putting money into it. The 51% attack makes it a faulty protocol, period.
2. Actually Litecoin's adoption rate is much faster than BTC's was, and what kind of genius invention is BTC, if it has to depend on LUCK???
3. Irrelevant to the discussion, which is the faultiness of the BTC's protocol.

But I will be nice to you and put you on Ignore so I don't have to read your drivel...

you are a fucking moron, yes please put me on ignore.