What Is Happening to the Bitcoin Price – Follow Up – (Consensus Algorithm Discussion)



This is a follow up to this video

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The reddit conversation took place here

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  1. Hello there! Have you heard the talk about – Brians Bitcoin Big Bang (do a Google search)? For anyone who is intent on making money with Bitcoin, I have heard some decent things about it and my m8 got great benefits with it. 

  2. I think more is bad at the end of this boom because the market will be flooded with crypto's and not enough people using it! Unless bitcoin starts creating a massive demand for these coins there be no need for more mining. As a big miner i would be looking to invest on how to get the public using what i had created (coins) so i could make more of them! ( if i am a toy seller i need children to buy correct?) bitcoin has reached a stage now of a level out because of the volume of miners vs buyers. 1 nice fancy apple / m&s tv adverts of people looking cool paying with bitcoin. Would create shit loads more demand for the coins. So yes time is the answer. Best Regards David

  3. I agree 99%. Note that btsx also have designed inflation, "new" coins are not mined but are put into circulation over time, by company behind btsx who holds them from start. Also what do you think about BTSX vs NXT? it's basically the same design, don't you agree?

  4. Comment on competing currencies.

    It is better to have competing currencies because of nonlinearly scalability of blockchain networks. As the number of transactions rise in a system like bitcoin the resources required for any one node scales faster.  This will translate into higher fees on transactions imposed by the miners. To incentivise lowering costs on transactions having other competing networks will reduce the costs of processing. These smaller parallel coins are suitable for the smaller transactions that does not require a huge market cap or liquidity.

    Another reason for multiple network is to increase user anonymity by making cross chain transactions.

  5. points- :

    it's not about "fair" its about monetary distribution economics, BTC is flawed DPOS is about as bad.

    Compare the Quark protocol to the DPoS and the BTC monopoly.

    we can't "choose" to have one currency its not our choice the market will decide.

    The decentralized economics of DPOS are broken in a fundamental way.

    Myriad uses SHA256 though multiPoW look it up, it has solved the natural 51% problem along with Quark (Myriad is robust for long distro Crypto)

    Cheers good luck with everything. diversify friend, you are going to want to do that, you seem to be talking from "hope " and "emotion" don't take that the wrong way.