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252

Top 10 on @CoinMarketCap 5 years later expressed in BITCOIN.

144 comments
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level 1

dont mess with shitcoins boys

level 2

Get burnt like a muh fuh!

level 2
-12 points · 4 months ago(6 children)
level 3
redditor for 3 months
14 points · 4 months ago

I know altcoiners like this Myspace analogy but it isn't correct for Bitcoin. An analogy which is more correct would be to compare Bitcoin to the internet IP protocol or even to the Linux kernel.

In the best possible way I encourage you to keep reading and learning. A good place to start is to read "The Internet of Money" by Andreas M. Antonopoulos. You won't regret it.

level 4
Comment deleted4 months ago
level 5
redditor for 3 months
6 points · 4 months ago

I haven't heard the point expressed that way before, thanks.

level 5

Of course MySpace and Facebook have network effect... Why do you think I still use Facebook?! All my friends are there, there is no point in stop using it, I can use lets say, discord... But if I want to communicate with my friends I still need Facebook, the same thing happens with coins.... 1btc or 1 whatever cost you x dollars, but if you want to spend it you need someone to accept it... If everyone accept whatever you dont need bitcoin anymore, just like, if my all my friends use discord I don't need Facebook anymore...

level 4

Yes, and you see what mess we are now with ipv4.... With ipv6 lagging to became the new standard..... I don't think bitcoin can became a currency before it became fungible.... Until now, for me, bitcoin is just a GOOD store of value... Don't get me wrong, but I believe this should be number one priority, or something will eventually overthrone bitcoin

level 5
redditor for 3 months
1 point · 4 months ago

IP wasn't perfect but it was sufficient for mass adoption. Other applications and features were added by larering on top of it. I think Bitcoin will succeed because it is the first technology that is good enough.

level 1

Can’t wait to dump a heap of shit coins I’ve collected over the last 18 months 😒

level 1
redditor for 3 months
20 points · 4 months ago

They all have COIN IN the name... Naming has certainly changed...

level 2

They still do. Shitcoins.

level 2

Wait for next wave: they will all be named Bitcoin something

level 3

Alright happing. Bitcoin gold Bitcoin diamond?

level 1
16 points · 4 months ago · edited 4 months ago

5 years ago bitcoin was the only coin that had a value proposition, everything else was nonsense. There were no platform tokens, no security tokens, no utility tokens, just a lot of bullshit that was trying to be bitcoin, and almost all of them did poorly.

Now, altcoins are legitimate coins, with legitimate value propositions. It's why last year was the first year that bitcoin experienced a large drop in dominance.

Saying all of this, is not to suggest that 5 years from now the top 10 is going to look anything like it looks now, tech moves fast. My point is simply that this data is from a time when no coin offered actual innovation, and now we're seeing tons of coins that do important things that bitcoin cannot currently do.

I love BTC, I hope and expect it to do very, very well, but let's not be disingenuous.

level 2

5 years ago bitcoin was the only coin that had a value proposition, everything else was nonsense.

Litecoin is ASIC-resistant with faster block times. Namecoin provides a more censorship-resistant alternative to traditional DNS.

Obviously by most measures these coins weren't successful, but to say they had no value proposition isn't fair.

level 3

I thought LTC still has ASICs mining?

level 4

Resistance does not mean immunity, all it means that it's less cost effective to implement and offers less advantage over "general purpose hardware".

Bitcoin is almost as good as it gets with a easy to implement straightforward hashing function, you get immense speedup from building custom hardware solely dedicated to only perform that job.

level 5

Sure, I guess its all about levels, I didnt think ASIC-resistance was a core design principle of LTC, unlike Vertcoin for example. Or Monero which switched to CNv7.

level 6

It was one of the selling points of LTC early on, it's just that most people weren't around to remember those days.

level 7

It was actually designed to be GPU-resistant, which also didn’t work out

level 8

Ye it might have been actually, from what I remember it was GPU minable fairly quickly after it left the fringe (great success on that one).

The same could be said about monero, iirc the goal was to even the playing field between GPUs and CPUs initially, then Vega came along.

level 2

what if i told you that BTC dominance goes down because alts are a pump-dump-festival to make a lot of money?

go through the alts and realize that not even a handful coins are NOT close to 100% correlated with bitcoins price. (ETH, ZCASH, DCR ...).

taking this correlation into account BTC dominance is more like 80%

level 3

Also the fact that no alt coin ever truly goes to zero, as long as they retain any value at all and BTC doesn't go up in value indefinitely the BTC dominance will always go down. I mean Bitconnect still has a market cap of millions ffs.

Market cap is just a very poor metric when there are coins valued in the millions with almost no market depth and volume.

level 3

I'd tell you that you're not entirely wrong, and are in fact largely right, except on that last line, because other coins with legitimate value propositions will absorb some, if not most of the pump and dump money over time.

level 2
redditor for 3 months
1 point · 4 months ago

"now we're seeing tons of coins that do important things that bitcoin cannot currently do" ... like what for example?

level 3
1 point · 4 months ago · edited 4 months ago

VeChain/Walton are end to end supply chain/logistics coins. Basically you can track products between companies, or track products put out for sale, having an active and constantly updated record of how quickly something is selling, how many you have in stock, etc. Lots of useful applications here, that will only grow with time.

Populous allows for a decentralized invoice marketplace for SMEs, while there are other markets for SMEs to sell invoices, by automating everything Populous can do it cheaper.

Decentralized prediction markets allow for a less trust based, cheaper, and eventually more efficient prediction market. Augur, Delphy, lots of other coins offer this.

All the attempts at a decentralized twitter/facebook/wechat/whatever, will allow for people to eventually have their data in the hands of software rather than untrustworthy companies that will sell it behind your back.

Syscoin is basically a decentralized Ebay competitor, currently everything is done in a kinda shitty app called blockmarket, but this year they should go live with "Blockmarket web", a website which will be a more viable competitor to ebay with lower fees.

Obviously Dex's are useful though only specifically to the token economy. Same goes for exchange tokens.

There are obviously a lot of other useful tokens as well, platform tokens, anonymous tokens, cloud/fog computing, cloud data storage, etc, but that covers most of the coins that offer value propositions different from BTC that I'm aware of, which have sufficiently working technology to prove their viability. I'm not saying any of these tokens will be the one token that wins their respective market, nor am I suggesting that all of this tech is at a level where it can compete with existing technologies today (though some are very close), I'm simply saying that we're a lot farther along now than we were 5 years ago.

level 2

Perhaps you're being disingenuous. "Actual innovation" is not enough to survive long term.

level 3

That's your assertion, not fact. The value proposition of bitcoin is in a few different things, but I'd say primarily it's the following. Money with a defined emission rate that is deflationary, and the automation of work that was historically handled by several employees at banking establishments.

Those key points can apply to other cryptocurrencies. When it comes to a store of value, bitcoin is #1. Eventually, I think when it comes to payments, bitcoin will be #1, though this is less certain. Those are two of the most important functions a cryptocurrency can offer, which is why I expect bitcoin to remain #1.

That said, a defined emission rate that is deflationary in nature, along with automating work that was formerly done by several individuals, is something that many cryptocurrencies can offer, which allows for cheaper prices. Not only that, but decentralization is incredibly important as well, and if you can decentralize institutions that typically hold way too much power, then you've achieved something great for humanity.

Bitcoin did that with banking. It can be done to facebook, twitter, google, and various other networks where your data is theirs to sell. I've already listed tons of different cryptos (in reply to another dude in this comment chain), doing things differently from bitcoin, that have legitimate value propositions. So you may disagree with my arguments, you may disagree that these things are enough to survive long term, that's fine, we're speculating. But I am not being disingenuous, my arguments are founded on reason and my own assumptions, just like everyone else's arguments.

What I've labeled as disingenuous is that picture of 5 years ago from CMC, because cryptocurrency has moved forward ridiculously over the last 5 years, and over that time bitcoin went from high 90's in terms of dominance to high 30's, which suggests that the market recognizes the same things I've outlined here.

level 4

Bitcoin's lost dominance because there are so many coins now. But the chance of them holding value of another 5 years is slim against Bitcoin due to the network effect, Bitcoin acquiring a lot of their functionality and the novelty factor for most of them wearing off.

level 5

If you think that coins today are not significantly better, and more specialized/useful than coins 5 years ago, then we're just going to have to agree to disagree.

level 6

I didn't say that but it still may not be enough. They still have so many hurdles.

level 7
1 point · 4 months ago · edited 4 months ago

You replied to my post, which was making specifically that point, saying the lost dominance is because there are so many coins now. My point has always been that altcoins 5 years ago and altcoins today are vastly different in terms of their value propositions, it's the crux of this entire chain of comments. That point is the reason why bitcoins dominance has fallen, not just because there are a bajillion tokens (though that is part of it). That said, I don't disagree that the space is crowded by a ridiculous amount of useless or redundant tokens, but at this point (unlike 5 years ago) there are some legitimate tokens with actual value propositions other than bitcoin.

level 8

Like smart contracts which can be rolled back if used incorrectly (ETH and theDAO)? Rendering them pointless. Or even more pointless. Or anonymity (Monero, Zcash) which can be built into Bitcoin?

The real killer app or USPs are decentralization and censorship resistance - of which Bitcoin still is the king

level 9

You can say shit is pointless, it doesn't make it so. You can also act like bitcoin can easily bring in new features, but you're absolutely wrong on that as well. You don't know what you're talking about, and the framing of your question suggests a closed mind not worth the engagement.

level 10

I made a good point about why smart contracts are pointless and gave me a lame answer about shit. Let's drop it.

level 1
8 points · 4 months ago · edited 4 months ago

Never get too attached to alts. One moment you could have a fortune and next moment you could be left with a few dollars.

level 1
redditor for 3 weeks
40 points · 4 months ago

Same will happen with 99% of today's top 50

level 2
85 points · 4 months ago

Surely you mean 98%.

level 3
redditor for 3 days
17 points · 4 months ago

well played

level 3
-9 points · 4 months ago(8 children)
level 4
15 points · 4 months ago

99% of 50 is all, as one represents 2%. So 99% of 50 is all and the same as 100%. 98% would exclude one.

level 5

but "the same thing happening" would imply that 1 of those top 50 maintains 0% change over the next 5 years. :)

level 6
8 points · 4 months ago

1 BTC = 1 BTC 0% change.

level 7

The only math that matters for some of us.

level 7

The aspergers on this thread is strong

level 7
0 points · 4 months ago

Ackchyually, since we are still seeing inflation in the bitcoin supply, you could argue that 1BTC "tomorrow" is equivalent to less than 1BTC in the "now".

level 5
1 point · 4 months ago

0.5 could be a fork that hasn't happened yet.

level 6
0 points · 4 months ago

If you have a certain number you look at, you will have that certain number to look at, no matter how many other things there are.

level 1

"Bitcoin is too expensive...just buy the top 10 coins and hodl."

level 2
redditor for 3 months
3 points · 4 months ago

How to get rekt?

level 1

That’s why in 2017 a new kind of coin was invented: The Imposter. The people behind this (still) shitty altcoin actually denie that it is an alt, even try to denie that it is a fork, they just try to convince everybody that their coin is "the real Bitcoin". And it‘s really unbelievable: a lot of people fall for it.

level 1

Namecoin was sorta kinda interesting.

Too bad it never really took off.

level 1
redditor for 3 months
20 points · 4 months ago

Bcash spoiler alert

level 2

I think you forgot the r after the c

level 1

So basically buying and holding altcoins has an 80% chance of failure. Of all the altcoins on that list only one of them is still improving today

level 2

Which one exactly do you see as improving today? I only see negative values.

level 3
18 points · 4 months ago · edited 4 months ago

The only one on that list that didn't crash is Litecoin. Also keep in mind a lot of the benefits to Litecoin didn't matter back then. There was a lot less traffic on the Bitcoin Network. Now you have Litecoin developing integration into the consumer Market. They have debit card deals with all kinds of people in the works right now. It's cheaper to send. It's also faster. It's also less encrypted but apparently that doesn't really seem to be an issue Quantum Computing aside and even on that level it's guessing. Litecoin has had more development in the past 18 months than it had in its entire life. If you're talking about price I guess the thing to do would be watch and see if it can break out of its link to bitcoin because right now they move lock step

level 4

100% agreed

level 3
Comment deleted4 months ago(1 child)
level 4

I can't quite make it out on that list, mind if you highlight it?

level 2

only one of them is still improving today

But still depreciating v Bitcoin.

level 1

So is the fate of all alts.

level 2
redditor for 3 months
3 points · 4 months ago

Times have changed.

level 3

True. This will happen a lot faster now.

level 4
-7 points · 4 months ago(1 child)
level 5

Why dont you remind us of this thread in 5 years. Include the current trade value in btc of the alts you like better than bitcoin.

We shall see indeed

level 3

The times will change again.

level 1

Oh man this takes me back..

level 1

Guess which altfork is going to join that list :)

level 1
redditor for 2 months
3 points · 4 months ago

Bitcoin truly is king!

level 1
redditor for 3 months
5 points · 4 months ago

1Đ = 1Đ even after 20 years!

level 2

U bunch of memers are gonna get slapped by reality

level 3
redditor for 3 months
1 point · 4 months ago

Jealous? I can gift you some doge if you like...

level 4

Go back to posting memes on r/dogecoin , because apparently that's what gives it value

level 5
redditor for 3 months
1 point · 4 months ago

It's not a meme. You think to much in fiat. 1BTC will always be 1BTC. No1 can ever steal that from you. The same is with doge. 1Đ will always be 1Đ. And btw, I'm a bitcoin hodler, but at the same time I'm a happy doge hodler. Perfect combination if you ask me.

level 1
2 points · 4 months ago · edited 4 months ago

[ignore me, I dun goofed]

level 2
Original Poster3 points · 4 months ago

5 years ago.

level 1

genius

level 1

Past results....

level 2
redditor for 2 weeks
1 point · 4 months ago

Are not indicative....

level 2

Isn't that more a legal requirement to state that?

level 1

nuff said

level 1
redditor for 3 months
2 points · 4 months ago

How can you filter coins by performance over 5 years? I can only manage to filter by change over the last 7 days on coinmarketcap

level 2

AFAIK you can't. I edited coinmarketcap's html to create this table. I made a mistaske for devcoin, today's price is 2.805e-9 BTC ... Link to original tweet

level 3

@cryptocratie

2018-05-19 13:50 +00:00

@giacomozucco @FedericoTenga Top 10 on @CoinMarketCap 5 years later expressed in btc. #bitcoin

[Attached pic] [Imgur rehost]


This message was created by a bot

^[Contact creator]^[Source code]^[Donate to keep this bot going]^[Read more about donation]

level 1

you guys are really cherry picking for positive data at this point

level 2
3 points · 4 months ago

A five year span is cherry picking?

level 1
redditor for 3 months
2 points · 4 months ago

What about the past performance does not predict future returns ;) ?

level 2
2 points · 4 months ago

A legal thing requirement to state that isn't?

level 1

Great graphic to show to newcomers that dont want to buy Bitcoin "because it is too expensive" or similar poor reasons.

Bitcoin is more that just a leader in acceptance, liquidity, hash rate and price. It has more development and rigorous testing standards for new features that any other project. Most blockchain face a significant risk of failure if one or two key developers leave or a new feature (with little peer review) is introduced

level 1
redditor for a day
2 points · 4 months ago

This is a very interesting chart. But, keep in mind that this will not be the same in the future. This is when bitcoin was not worth very much, so of course the alt coins would be nowhere near the gains seen in bitcoin. Today, very good projects are coming out against bitcoins current price. So let’s say bitcoin is even only $5k (just to lowball it for stronger point), and a project comes out that is a 10x (like cardano for example since it’s still higher than 10x right now and its ATH was much higher than that), bitcoin would have to be worth $50k to be 0% profit/loss, while cardano holds that same satoshi value the entire time, which isn’t likely to happen at all. I’m not saying that bitcoin won’t be better to hold than many coins, because it will be. But at this point in time, you can gain much higher multipliers against bitcoin, by picking a strong project with a great team, advisors, and roadmap. And it doesn’t hurt if it’s super hyped : ) But again, this was cool to see the original post, to see how far bitcoin has come.

level 1

300B of that shit has to unwind from here

The bear market has only just begun for most

Don't tell /r/cryptocurrency. Their motto will soon be "...but it had so much potential!"

level 2

Why does it have to unwind? I mean the gold market is 7.8 trillion.

What's the fundamental reason it has to unwind?

level 3

Because the vast majority of them offer no utility compared to Bitcoin.

I suppose they're more volatile which could keep some of them alive as pure gambling mechanisms (which is 99% of the value of most alts), but the problem is that they all trend to zero like so many penny stocks.

We have just arrived out of a big bubble, and at some point there will be price divergence between Bitcoin and the mess of shitcoins. That hasn't happened yet which tells me that they're still over valued.

level 4

I don't really understand where you come up with a bubble? We had a 2000 % run in 2017 which was less than half the bubble run of 2013. In 2014 the maximum drawdown was 80%. We have already hit 70% on this one and it was a smaller run up than the last one. While I definitely agree there are a lot of crap coins it doesn't mean the market itself is overvalued it just means the money might be in the wrong places

level 4

Ironically Litecoin is the only one in that list that survived which has exactly the same utility as bitcoin. Alts today have far more different utilities than back in those days. Platformers, DAGS, Privacy coins, Dapp tokens.. something tells me this time is different, but sure many will still die.

level 1

It's nice to see values expressed in bitcoin.

Has anyone seen a site that tracks fiat currency prices in Satoshi?

level 1

What it boils down to is utility and Bitcoin is the utility for all shit coins, simmer on that and ask yourself this, whos utility is growing and has purpose. Things that make you say hmmm.

level 1

Isnt the Devcoin price showing a positive return vs bitcoin?

level 2
level 2
Original Poster1 point · 4 months ago

The guy who made it screw up the numbers.

Btw Devcoin is dead.

level 1

Lol I mined terracoin back then. Still have then in a wallet somewhere

level 1
redditor for 3 months
1 point · 4 months ago

They will disappear eventually. It's like if bitcoin is a Trojan horse, many get attracted by quick money and then they stay for the sound money. Altcoin offer quick money (speculation) buy not sound money.

level 1

Ha ha ha, very funny actually...

level 1

much innovation in those coins.totally the same as today, comparable is obvious

level 1
redditor for 3 months
1 point · 4 months ago

Nice list, thank you very much. All of them have been just copy cats. Next 5y might look different.

level 1
-2 points · 4 months ago

Can't wait for Ethereum to go the way of other alts.

level 2

why?

level 3
redditor for 3 months
3 points · 4 months ago

It causes unnecessary token inflation. BTC will get the same functionality via rootstock.

level 2

You know if it does it's going to bring down the market. So many projects have been linked to ethereum and built off of it. That's something I don't see any historical precedent to in the past. Ethereum and Litecoin are the two I hope stick around

level 3

It won't bring down BTC.

level 4

Buy bring down I mean create a bear market, have falling values. It will scare people and a lot of selling will take place

level 3
Comment deleted4 months ago
level 4
1 point · 4 months ago · edited 4 months ago

Agree there and you could even argue etherium is kind of like WordPress. It's allowed the development of other projects and other coins. Token based coins like icon which have now moved on to their own main net. Correct me if I'm wrong here but were originally designed on the ethereum network. Eos is another example right in our face today

level 5

That's an interesting comparison!

level 6
2 points · 4 months ago · edited 4 months ago

And it's one that I find has a little weight to it period in the early days of web design everything was HTML and then we had HTML 2 and 3 and now 5 and so on. WordPress came along and gave people who did not want to learn coding the ability to create a decent website that was still more technical than a cut and paste but not quite as technical as writing everything from code. You can still edit CSS and you can still run apps on top of Wordpress and do a lot of what you can in HTML. That mirrors what etherium is doing right now with token design. The one that really stands out to me is icon or icx. If you don't live in South Korea which I definitely don't you don't see it in action but if you do some research look at what that silly little token is doing. It's taking development in pretty cool direction that actually has real world use. If eth is responsible for projects like this and many others it literally is the WordPress equivalent. Personally speaking I like this kind of development and think it's healthy for the market. The coin I would be critical of is Bitcoin cash. It feels like they are trying to Rebrand the Bitcoin name on to their coin. Technically it's very similar to Litecoin which oddly enough the founders of Bitcoin cash did not back. I'm not quite as bearish on bitcoin cash as some of you but the only reason why is because I would encourage them to develop the coin into itself . to make it stand on its own two feet. If their entire goal is simply trying to take over the Bitcoin name I don't see how they plan to ever succeed. They did not receive a majority vote which is why they forked in the first place. In fact the only real shot seems to be drying up the supply and then betting big with a pump to run the price and hope people fomo and jump on board. If the management at Bitcoin cash simply said hey look we disagree with where Bitcoin was going and we decided to make our own coin based on what we feel are the merits of Bitcoin. I would totally cheer them on. I might question why they didn't just support Litecoin but that's another argument. However it would be honest and transparent. When I read a lot of the current marketing about Bitcoin cash however it's very angry. They are crying about censorship and how they are the oppressed little person. Yet they are trying for a hostile takeover of Bitcoin. I mean what do they really expect

level 4

It’s not a true blockchain though, IMO. Their foundation literally censored the ETH blockchain and hard forked to prevent the losses during the DAO incident in summer 2016. The above comments are accurate and this just goes to show the real state of “blockchain” in 2018. Everyone likes to forget that this happened. It was really controversial back in the day.

level 3

A house of cards falling should surprise nobody since it is a house of cards.

A gross malinvestment being corrected should surprise nobody since it is a gross malinvestment.

You don't build a fortress on quicksand if you want your fortress to stand. ETH, and everything that touches it, is built on top of quicksand.

level 4

What you typed was an opinion but you left out everything that led to it or an actual argument

level 5
2 points · 4 months ago

I think his argument is a lot is dependent on ETH itself being strong enough to support such a potentially massive infrastructure.

level 5

Thanks. I'll have to work on that.

For now if you are interested in reading some criticism I would recommend you read the sticky in /r/ethereumfraud/.

level 1

In the next years real state issued cryptos will appear - with a huge marketcap, surely. Maybe bitcoin will lose it's 1st place if cmc lists them as well...

level 2
Original Poster4 points · 4 months ago

Why a libertarian want a state coin? The majority in cryptomarket are libertarians.

Btw, statist don't like internet money, too hard for them.

level 3

You answered it yourself, libertarians won't want a state coin. But libertarians are the minority.

If a state coin can adequately capture the majority (non libertarians) they will have the Lions share of the market.

level 3

I think the majority in the crypto market are what I would call selective Libertarians. Anti bank or anti-establishment might be a better term. A true libertarian wants deregulation and an open economy which would collapse the lives of many of the people wishing for such a thing. Are you a union worker? Yep your wages will go down. Do you get any kind of subsidized Health Care? Don't even have to explain what will happen here. What about social security what about the police department what about the fire department. So what I'm getting at if you haven't figured it out by now is most people who claim to be Libertarians are just disenfranchised with the two main political parties and I really can't blame them there. The Democrat Party which should be the working party has a lot of special interest influence. The Republican party which should be the big business pro growth party has been taken over by a lot of vile fear mongers. I really can't blame somebody for being disenfranchised with our current climate

level 4
Original Poster2 points · 4 months ago

Do you get any kind of subsidized Health Care?

Yes, take a look of our government hospital.

https://i1.wp.com/www.pstu.org.br/wp-content/uploads/75573.jpg?fit=750%2C500&ssl=1

level 5

You know what's sad about that picture. It's still better than if it wasn't there because if it wasn't there those people would be on the street. They are there because they have very little. In America the biggest Healthcare problem we have are the corporations. It's for profit and for-profit I mean a lot of profit. People like to blame the politicians but there's really only so much they can do

level 6
Original Poster2 points · 4 months ago

I have a special video for you, my friend.

How Government Solved the Health Care Crisis!

https://www.youtube.com/watch?v=IBFoC1gkExI

level 7

It's also something that went away and can't really come back until you address things like. Hospital costs. Malpractice insurance. Pharmaceutical companies making hundreds of thousands of percent profit. The fact you can buy certain drugs in India for $50 that are thousands of dollars here. These companies exploit America because they can. If you simply legislate against them you give them incentive to move somewhere else. That's been the entire problem we have faced in the past 20 years and it's only getting worse. So far the best modern world example has been in Australia. It's a mix of socialized and private medicine that is better than what we currently have in America. If you're well off you can still buy the best Healthcare and if you're poor you still have something. This is all done at a lesser cost than what is currently happening in America and for better performance

level 8
Original Poster2 points · 4 months ago

Do you know something called Intelectual Property? This wouldn't exist in a anarcho-capitalist sociaty.

You can copy any medicine and sell for a lower price.

level 9
1 point · 4 months ago · edited 4 months ago

That would be a lovely idea if we did not have to innovate. Incentive has to be given somehow. Right now it's financially. There are however other ways to incentivize. Perhaps Explore those. One example right off the top of my head is a drug called sovaldi. Gilead made this probably with a lot of government backing. It's a drug that kills the hepatitis C virus which until recently killed people over a period of time. It's effective on pretty much everyone unless your liver is completely destroyed. I can't remember the exact cost but in the United States insurance pays something like 50 to $80,000 for this drug. Now if you're uninsured and poor they will sell it to you for something like $5,000 which is about what it would cost you to fly to India by the drug and stay in a hotel for a month to get treated. I should also mention the drug in India is like $1,000. It's the exact same drug.

level 10
Original Poster1 point · 4 months ago

You know why this? Because of taxes and regulations.

Btw, you still taking about dollar. Dollar wouldn't exist.

level 4

Someone doesn't understand economics...

level 2

so, if I bought the stolen/hacked token for an NYC apartment building, that building is mine without contention or will there be an arbitration body/gov't who will say, "wait, no, that token is stolen so it's void".

Then why use blockchain? The point of blockchain is for trustless, uncensorable transactions that can only be realised in digital assets, not real world which is subject to 3rd party interference.

level 1

iota

level 2

The one and only

level 1
redditor for 3 months
0 points · 4 months ago

Good old Feathercoin. Made a lot of profit with it. Good old times!!!! Gettin old

level 1

BTCP will be the only coin which will compete to BTCP http://cointigo.io/

level 1
redditor for 3 months
0 points · 4 months ago

Governments will only allow 1 proof of work coin. It’s too damaging on the environment and pointless to have more. That can be a bargaining chip with regulators.

level 1

Well, this time is much different. We can't expect today's market leaders go to zero, but it might still happen. I still think that 95%+ out of 1600+ cryptos will fail, and putting money in BTC is much safer than altcoins, but look at BTC dominance chart. BTC lost a lot of market share, down from 75-95% to X-50%, and X has chances to dip below 30 for the first time in history. ETH Flippenning might not occur, since it's competitors will eat away some of it's market cap, but it did get very close in summer 2017, and there was no Bcash back then. Bitcoin will still be one of the biggest (or the biggest) currency, maybe even forever, but alts are now much scarier than they were in 2013. The problem is - you don't know which alts will die, maybe EOS kills ETH, or other way around, or ADA/NEO will destroy everyone, or something new entirely will blow everything away. I'm not bearish on Bitcoin, but I'm on it's dominance. Buy hey, maybe 1 very rough multiyear bear market with 1300 USD/BTC sale will shake all alts away, who knows.

level 2

BTC is still the only leaderless one.

It's why people worldwide trust it, where they have learned not to trust ANY kind of centralized leadership.

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