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IMHO his thoughts on bitcoin apply more fully to all the other alt-coins, including (especially?) ethereum. Bitcoin has value because of its popularity and has

IMHO his thoughts on bitcoin apply more fully to all the other alt-coins, including (especially?) ethereum. Bitcoin has value because of its popularity and has been used successfully for years on dark web markets and legitimate markets like the Microsoft store. Its value may fluctuate, but it is surely valuable to many people in the world. On the other hand, most alt-coins (Monero is an exception) are the products of people who want to get rich via scamming.

frgtpsswrdlame 9y ago
Why the exceptions? Ethereum is a scam but Monero isn't? They're all the same.
- free_everybody 9y ago
  The most important metric when comparing cryptocurrency is "real world" usefulness. Bitcoin is obviously useful because it's popular and widely accepted. Monero is useful because it the most traded highly secretive coin. The development team only wants to provide untraceable currency, no more and no less. They even have actively tried(https://bitsonline.com/fluffypony-speaks-troll-monero-market/ https://bitsonline.com/fluffypony-speaks-troll-monero-market...) to keep Monero's price low while other alt-coins were spiking because they hate the direction that the Ethereum ecosystem is taking and spreading to all of cryptocurrency. (i.e. the get-rich-quick mentality) I don't think Ethereum is a complete scam. Vitalek is very smart and wants to change the world. The problem is, he created a nest for scammers with his smart contracts. Theoretically, smart contracts create trustless transactions. In reality, this becomes a wild west for anyone with an ounce of swindling talent to con people out of money, or just lose it because of poor coding practices. I would link some articles but there are SO MANY that its common knowledge by now. Check out Monero community member Riccardo Spagni's comments(https://www.youtube.com/watch?v=zJbxaFHGk2M https://www.youtube.com/watch?v=zJbxaFHGk2M) about Consensus 2017, a crypto conference during which he was bombarded by talks of ethereum ICO's that had no actual products to show for.

frgtpsswrdlame 9y ago

Why the exceptions? Ethereum is a scam but Monero isn't? They're all the same.

free_everybody 9y ago
The most important metric when comparing cryptocurrency is "real world" usefulness. Bitcoin is obviously useful because it's popular and widely accepted. Monero is useful because it the most traded highly secretive coin. The development team only wants to provide untraceable currency, no more and no less. They even have actively tried(https://bitsonline.com/fluffypony-speaks-troll-monero-market/ https://bitsonline.com/fluffypony-speaks-troll-monero-market...) to keep Monero's price low while other alt-coins were spiking because they hate the direction that the Ethereum ecosystem is taking and spreading to all of cryptocurrency. (i.e. the get-rich-quick mentality) I don't think Ethereum is a complete scam. Vitalek is very smart and wants to change the world. The problem is, he created a nest for scammers with his smart contracts. Theoretically, smart contracts create trustless transactions. In reality, this becomes a wild west for anyone with an ounce of swindling talent to con people out of money, or just lose it because of poor coding practices. I would link some articles but there are SO MANY that its common knowledge by now. Check out Monero community member Riccardo Spagni's comments(https://www.youtube.com/watch?v=zJbxaFHGk2M https://www.youtube.com/watch?v=zJbxaFHGk2M) about Consensus 2017, a crypto conference during which he was bombarded by talks of ethereum ICO's that had no actual products to show for.