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The bigger it grows the harder it will fall. The design/implementation of bitcoin as a currency is severely flawed. Projects like Ethereum, Hyperledger, and IO

The bigger it grows the harder it will fall. The design/implementation of bitcoin as a currency is severely flawed. Projects like Ethereum, Hyperledger, and IOTA have a more long term focus. Full Disclosure: I have no positions in any crypto but have been reading a lot. Also, in the midst of two courses that go that cover crytpocurrencies and blockchain tech. 1. https://www.coursera.org/learn/cryptocurrency https://www.coursera.org/learn/cryptocurrency 2. https://www.edx.org/course/blockchain-business-introduction-linuxfoundationx-lfs171x https://www.edx.org/course/blockchain-business-introduction-... #1 gives a very good history of what a blockchain is, and how is implemented by bitcoin. This is enough to keep me away since I have learned about all the technical flaws: #2 discusses blockchains, and consensus algorithms. This project shows lots of promise. They just added code that allows the consensus algorithm to actually be changed via a transaction, without a hard fork. Bitcoin gets all the credit for introducing the world to the blockchain concept, but its far from a sound solution as a cryptocurrency.

sp821543 9y ago
You should take a look at IOTA's github repo.
- baldgeek 9y ago
  I plan to. The blockchain is here to stay no doubt. and I skimmed over the IOTA whitepaper, definitely very interesting
CryptoPunk 9y ago
I agree that Bitcoin is extremely risky, but I've looked at IOTA, and it's an utter nonsense project. It's centralized, because the tangle security model it purports to use doesn't work, and its developers have pulled antics like explaining away a flaw in the client code by claiming it was put there intentionally to thwart copycats, and claiming a "partnership" with a company after IOTA used that company's software. Hyperledger meanwhile is not a distributed cryptocurrency project. It's software for building consortium blockchains, meaning blockchains run by trusted third parties. I agree with you on Ethereum. It's now processing more transactions than all other decentralized blockchains combined, including Bitcoin.

sp821543 9y ago

You should take a look at IOTA's github repo.

baldgeek 9y ago
I plan to. The blockchain is here to stay no doubt. and I skimmed over the IOTA whitepaper, definitely very interesting

CryptoPunk 9y ago

I agree that Bitcoin is extremely risky, but I've looked at IOTA, and it's an utter nonsense project. It's centralized, because the tangle security model it purports to use doesn't work, and its developers have pulled antics like explaining away a flaw in the client code by claiming it was put there intentionally to thwart copycats, and claiming a "partnership" with a company after IOTA used that company's software. Hyperledger meanwhile is not a distributed cryptocurrency project. It's software for building consortium blockchains, meaning blockchains run by trusted third parties. I agree with you on Ethereum. It's now processing more transactions than all other decentralized blockchains combined, including Bitcoin.