Viewing a response to: @luigi-tecnologo/re-heiditravels-crypto-tribalism-which-side-are-you-on-20180721t154600788z
That kind of minimalist competitive view will become outdated by cryptocurrency. This is an open source cooperative movement. There will be thousands of coins, none of which can go under because they are supported by an unwavering community. These coins have little overhead. There's no way they can go bankrupt. Some of them already have enough funding to be developed for the next 40 years. What happens when one of your three coins gets hacked? Catastrophic collapse of the system. What happens when one of 1000 cryptos gets hacked? Blip on the proverbial radar. Redundancy is 1000% necessary.
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| author | edicted |
| permlink | re-luigi-tecnologo-re-heiditravels-crypto-tribalism-which-side-are-you-on-20180721t194439974z |
| category | cryptocurrency |
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I don't get the point.. if Bitcoin is hacked also Litecoin, Dogecoin and 90% of the other cryptocurrencies are hacked too because "90% of cryptocurrencies are Bitcoin clones". The point is which coin(s) people will seriously consider "reserve of value"? Because the tech is the most important thing but people wants adoption and stability.. not a new "Bitcoin killer" every year
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| author | luigi-tecnologo |
| permlink | re-edicted-re-luigi-tecnologo-re-heiditravels-crypto-tribalism-which-side-are-you-on-20180721t221721660z |
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No, a hack on Bitcoin does not mean that Litecoin gets hacked. The technology is forked enough to keep all coins separated. The mining pools are separated. These two coins don't even use the same hashing algorithm. There's proof of work, proof of stake, delegated proof of stake, and more to come. There's Smart contracts and there are blockchains and there are directed acyclic graphs. There are ERC-20 protocols and SMT and lightning network and casper and plasma and segwit and sharding. On and on it goes. The technology is accelerating out of control because the technology funds itself and everyone is helping everyone in an open source environment. You are thinking about this topic in terms of corporate scarcity and this is a space of cooperative abundance. Bitcoin is not Google, Amazon, Ebay, or Facebook. The big fish doesn't eat the small fish. Bitcoin is Linux, and there are hundreds of Linux operating systems. None of them compete with each other. That compliment one another. This is the nature of open source collaboration.
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please upvote me i will upvote you back https://steemit.com/mgsc/@vishal845/top-10-most-beautiful-girls-in-the-world-you-will-fall-in-love
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