This bitcoin breakdown is going to be ugly I saw NXT was rallying...what is that? And what the hell happened to this paycoin thing? Total crash there lately.
theres gonna be good support around 275 as last time.. the NY bitlicense regulations are due out this month anytime as for peercoin, why hasn't there been any VC support for it? Their bets are placed with long time horizons so they would recognize a better coin if they saw one
paycoin is some bull**** that no one should care about.. there are many of these centralized pump n dump coins that come and go.
good alt coins with potential will coexist with bitcoin.. its not one or the other. different coins with different attributes will end up with different use cases. crypto is the future
Bitcoin definitely isn't going away. There are already bitcoin ATMs out there. It just needs to become easier to use for everybody and it will become even more popular.
Paycoin is a big mess. Here is the inside scoop on that drama. LINK In terms of technology, Peercoin is better than Bitcoin in multiple ways. In comparison to other alt coins, it is one of the best, if not the best cryptocurrency currently out. PayCoin and NXT are forks from the source code of PeerCoin. The reason it is lacking in terms of market cap is because the main developer of PeerCoin, Sunny King, focuses only on the development of the technology. While forgetting about the business side of the game.
*Another correction. Well, PayCoin is a fork of PeerCoin. However, Nxt is not. They just took the key differentiation of PeerCoin to a whole new level.
On an curious note my buddy works for a firm on Canary Wharf and he was put in charge of setting up a BTC desk, because his trading duties on the base metals had slowed down. I asked him how he would find people to man the desk and he said he was just messaging folks on BTC forums. 75% of the people don't even reply back to him. All in all, my friend thinks he is being punished with this assignment.
then mining power leaves the network, and then it becomes easier to mine, until an equilibrium is reached
Different possibilities, one of them being is the 51% attack. When mining becomes unprofitable, other miners will leave. There's already a good amount of small miners who left because they can't compete with the big boys. Once less people mine only a handful of miners will control mining, mostly the big boys who has mining factories. Which loses its "decentralize" preposition. Hence, leading to the theoretical 51% attack. That's why I go with Peercoin, the scalable and sustainable cryptocurrency. Currently an undervalued technology that has a good community backing it up. But has enough differentiation to separate itself from the crowd.
Interesting.... That would seem to be a major flaw with bitcoin. All of these cryptocurrencies seem dangerous to own right now.
Pretty interesting framework, taking the best aspects of btc and mixing forex with its own currency as arbitrage for (ideally) small scale long distance transactions. https://www.stellar.org/
