JayJuanGee
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How much alt coin diversification is needed? 0%?


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April 03, 2014, 12:28:47 AM


Hello, good to see your in it for the right reasons Smiley

Its for everyone and that includes assholes, the systems strong enough to face off any realistic attack but its still vulnerable to the rich getting richer and poor getting poorer problem. That's where the features and alts are interesting, one possible function of Bitcoin is contracts for the transfer of real world assets which sidesteps its value altogether and if bitcoin as a currency becomes too centralised in the hands of a small number of people its credibility suffers and therefore so does its value and that value will be transferred to whatever alts gain trust. Anyway, off topic and there's a lot of different views on it. Long live Bitcoin indeed Smiley


Personally, at the moment, I see this as an over-played problem of the poor getting poorer... b/c anyone can generate some savings into BTC.. and if they can hold onto their savings.. then there is decent potential for BTC holding the value... at this moment, we cannot be sure about BTC's value in 20 years... for example putting $5000 into a kids college fund... and then waiting to see what the value is in 20 years
True, its a classic problem with fixed supply currencies though, some of the stories from the industrial revolution are horrifying. It's probably a long way away but still worth considering, imho by the time it would be a major issue the importance of money in lives will be significantly reduced but there's no guarantee of that.

I don't mean to be argumentative, but I am having trouble understanding the point exactly... ... I mean compared with the current system in which the bankers get free money.... ...

Does it really matter if there is a small number of people with BTC who are distributing BTC to others who want it... b/c once a person has bitcoin or earns bitcoin or saves bitcoin, then the question will be if the person can allocate a percentage of that for savings and then whether that BTC that is saved is going to hold its value.  I believe a lot has to happen between now and such a future, but I continue to believe that the less important question regards the early adopters as compared with the ability to save and then to have a savings appreciate.