KING OF FUD! DISCLAIMER: I own .05 bitcoins.


  1. David Wendt
    May 6, 2013 @ 3:28 pm

    The common explanation of “Litecoin is silver to Bitcoin’s gold” doesn’t make sense, because Bitcoin can be divided down to tiny amounts already. The only impediment to Bitcoin micro-transactions is the recently added ban on dust outputs in 0.8.2, which is currently at half a penny. Unless Bitcoin blows up to something insanely stupidly valuable, we will never need a second cryptocurrency for small transactions.

    On the technical end, Bitcoin sorta got it right the first time around and every new altcoin, at BEST, can be a marginal technical improvement. There seriously isn’t a marginal improvement on the original idea good enough to justify keeping a “Bitcoin but also X” currency around, and most of the altcoins are actually -worse- than Bitcoin.

    It doesn’t matter anyway. The biggest problem with Bitcoin’s design isn’t the design. It’s the surrounding social order and community.

    Full disclosure: I mine litecoins. Very slowly.


    • kfreed
      April 9, 2014 @ 11:11 pm

      I’m thinking the only impediment here is not so much the social order as it is bitcoin bears of very little brain/scruples.


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