Bitcoin is Dead?
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[quote name=“ftcguy” post=“25434” timestamp=“1376390510”]
[quote author=Markus11 link=topic=3306.msg25399#msg25399 date=1376342103]
[quote author=ftcguy link=topic=3306.msg25328#msg25328 date=1376317835]
While I certainly don’t think Bitcoin is dead, I see FTC hitting $1 well before BTC approaches $1000.If FTC adopts Zerocoin, then I think $1 will just be a short pit stop on the rocket ship to the moon.
[/quote]Good point, what happened to the thoughts about adopting zerocoin??
[/quote]I believe the overwhelming consensus was “YES, please add Zerocoin!” and the devs are indeed looking into it with the hopes of integrating it into Feathercoin in the future.
[/quote]Even though we want zerocoin we also want Security first. Zerocoin addition will mean nothing without protection methods. it will just make us more of a target.
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[quote name=“zythen” post=“25387” timestamp=“1376339375”]
BTC will never hit $1k :P The only trend I really see (and perfectly willing to be proven wrong), is that BTC has plateaued in price for now but my thoughts and concerns are that it’ll see another significant drop in the coming 6-8 months by $25-50. That’s my speculative summary anyway. :P@Kevlar - People won’t want to mine if it costs them more in overhead than they are receiving in return. Even when they already own the equipment. Just saying.
[/quote]But they do now, and have in the past, knowing that the price of their coins will go up. And it has.
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Bitcoin’s not dead, but every cryptocurrency has a rough road ahead of it:
http://www.reddit.com/r/Bitcoin/comments/1kagoo/congress_starts_investigating_bitcoin/
I mean, bring it on, let’s roll, don’t taze me bro, etc. etc, but still.
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To clarify - and perhaps the topic could have been better worded - I don’t mean it’s CURRENTLY dead. It’s more a question of it getting there and when.
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[quote name=“Kevlar” post=“25513” timestamp=“1376422012”]
[quote author=zythen link=topic=3306.msg25387#msg25387 date=1376339375]
BTC will never hit $1k :P The only trend I really see (and perfectly willing to be proven wrong), is that BTC has plateaued in price for now but my thoughts and concerns are that it’ll see another significant drop in the coming 6-8 months by $25-50. That’s my speculative summary anyway. :P@Kevlar - People won’t want to mine if it costs them more in overhead than they are receiving in return. Even when they already own the equipment. Just saying.
[/quote]But they do now, and have in the past, knowing that the price of their coins will go up. And it has.
[/quote]It went up and then severely retracted. It’s been stable lately but has been known to be volatile. What does BitCoin have at this point that really warrants a gain? There’s already an argument that BitCoin is mainly controlled and held by the few. Once they decide it isn’t as profitable any longer will we then see $5 BTC again as they unload? Unless the Devs decide to hardfork or make some other change, what’s to keep the difficulty from becoming suddenly insanely too high when more ASICs are fired up all at once?
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Actually another point would be that there’s no banking infrastructure in this arena, that both pays interest on your deposits AND insures them.
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[url=http://rt.com/news/bitcoin-germany-recognize-currency-641/]Germany recognizes Bitcoin as ‘private money’[/url]
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Interesting, thanks
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A few things. If it has no value for miners wouldn’t that increase the scarcity of BTC, increasing the value and making it profitable to mine again? Also BTC is merge mined with several other SHA-256 coins. IXcoin and Devcoin may not be worth much but Namecoin is another story (and one could easily speculate about NMC and DVC soaring in value given they are among the few coins actually in use for real things other than just day trading). As long as it is profitable to mine any of these coins, BTC will still be mined too, I would think. BTC could go up in value by several orders of magnitude. BTC could also fall out of favor and something else take its place.
Any one of these scenarios works in Feathercoin’s favor, I think.
