Author Topic: BTS is Not an Alt Coin  (Read 3664 times)

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Offline Mysto

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Its an altcoin until it unseats bitcoin.
Yea I think that's how people out side this community see it (and apparently some inside the community do as well :P)

Offline Method-X

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 +5% great post. I like to explain BitShares as a p2p company, like how Bitcoin is described as p2p money; a company built on a blockchain. I've had lots of success convincing people this way. They all seem to have an "aha" moment and realize BitShares is trying to do something very different.

Offline monsterer

Here's something to turn this on its head: alt-coins are DACs.
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Offline cn-members

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 :o  Bitcoin is alt-Bitshares  :P :P
BTS中文区发言人公共账号,帮助社区有效沟通与交流。
Chinese Community Spokesman Account,to help the effective communication between Chinese and other members of the community.We're not translators to do regular translations , but will help with vital ones as we see fit and available at that time.

Offline Riverhead

I like that Tonyk2.

Also like alt-share 8)

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zerosum

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Yee one of those times in history....

BTC is a 'carriage'/'coin'.

For a while people will refer to BTS as 'horseless carriage'/'alternative carriage'/'alt coin'.

Then they will chose automobile or a car as a better term..

...no biggie Riverhead...

Offline donkeypong

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We all struggle with the proper terminology (crypto, bank, etc.) to describe just what we have here.

Offline Markus

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Its an altcoin until it unseats bitcoin.
… and bitcoin becomes just one altshare.

clout

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Its an altcoin until it unseats bitcoin.

Offline Ander

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I understand the pain.

We want people to realize that bitshares is something new, a new usage of the blockchain technology.
In that sense, Bitshares is not an alt coin, and neither is Ripple, NXT, Etherum, and some of the other '2.0 coins'.


In most people's mind, the blockchain tech withthe highest market cap is the real deal, and every other blockchain is 'an altcoin'.   In that sense, we are still 'an altcoin'. 


Its all about arguing terminology. :)
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Offline House

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Must admit, I am guilty as charged Sir.
Not that I think of bitshares as an alt-coin but just lazy vernacular.

It pisses me off when people refer to indigenous peoples (the native population of any land) as Aboriginals when they are in fact ORIGINALS... Ab nothing M.F.ers  >:(

So... I feel your pain Riverhead

Offline starspirit

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Its a stake.
Whether they are more like currency, shares, bonds, donation receipts, etc etc, they all are stakes in something. The trouble is many of these things sit on a spectrum and there are hybrids. For example, are convertibles equity or bond? Are bank deposits currency or bond? Is non-redeemable currency money or confetti?

julian1

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BTS is a store of value, a medium of exchange and is highly liquid. It fits the definition of money, but is not limited to the money analogy.

Offline Riverhead

While Bitcoin was the first crypto currency and currently has the largest network effect and market capitalization it doesn't mean that every other technology that uses a blockchain is an alt coin.

First and foremost BTS is not even a coin. It is not designed or marketed to be a currency. Secondly BTS shares very little with Bitcoin in terms of actual functionality.

BTS is not just a better mousetrap. It's like referring to a 747 as an alt-car.

For these reasons, and more, I cringe when I hear BTS referred to as an alt-coin.

Discuss.