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General Discussion / Re: Why is Litecoin going insane?
« on: July 10, 2015, 05:04:27 pm »
Why is Litecoin insane?
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Good. Now they won't bitch about our referral program, as they'll be too busy insisting on how awesome this is for the Bitcoin glory.
i am sorry
metaexchange only deals with real BitGold
what would be truly interesting is for a DAC to figure out a decentralized way of introducing metal backing.
Wouldnt there still be an issue because you are allowing for the international trade of theses shares/tokens/depository recipes.
Therefore while you may not be conducting illegal activity in that jurisdiction, does it not put you in regulatory hot water on an international level.
Eg. You find a jurisdiction that is happy with everything. You issue shares as crypto currency. They are traded internationally. The US throws a tantrum because the NSA says people are now using the shares to fund terrorism. The next time you go to the US they not so friendly.
Right now, it's possible to DDOS the network in exactly the same way as bitcoin is suffering.
All you need do is create an MPA with very low value, get it voted in (admittedly, the hard part), then create millions of transactions for it - the fee is paid only in MPA units, so it will be a very low cost attack.
there is no way to know the actual supply of silver, it's the same premine and unknown total amount and distribution problem as we have with gold. Seriously the whole idea of gold and silver being "immutable" seems to be more wishful thinking than anything. People have been mining the shit for a long time, the catholic church for one had quite a bit of time collecting the stuff, but where is the omniscient, transparent and irrefutable account of it all?
The death of the bitcoin clones has proven that you don't need many different blockchains in crypto, only as many as you have the basic political faction:
1. Bitcoin - a simple streamlined store of value for the masses
2. Ripple - the private sector's next generation crypto solution proposed by the villians
3. Dopecoin - a simple streamlined store of value for the youth
4. Darkcoin - a simple streamlined store of value for the heroes
5. BitShares - the public sector's next generation crypto solution proposed by the scientists & philosophers
and from there, you have your smaller factions. Crypto is art imitating human political life.
I like your assessment. Now tell me. Where is Ethereum, MaidSAFE, and Shadowcoin in all of this mess?