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I think the contents of that bubble will fill another, more technically useful crypto. Something with 0 cost transaction fees.

Vadoff 9y ago
It's not currently possible to have a crypto with 0 fees that's both distributed/non-centralized as well as very secure against attacks. If there is, Bitcoin can easily incorporate the technology.
- Jsarokin 9y ago
  I'd say IOTA might fit your criteria, although it's still early stage. I don't think bitcoin could integrate their tech since it's not a blockchain, but a DAG (what they call a tangle). Interesting stuff.
  - gonzoflip 9y ago
    I have been following IOTA for a while now and while concept of IOTA is very neat, it appears that the community/leadership surrounding it are in shambles. The network is not really working unless you run a full node, and even then if you send your IOTA to an address you have transferred IOTA out of you can lose them forever. These issues make me very nervous about the whole project.
- wyldfire 9y ago
  Proof-of-stake is "very secure against attacks" but is less decentralized than proof-of-work. See Peercoin, Raiblocks.
wyldfire 9y ago
Raiblocks [1] offers zero fee transactions. It will be interesting to see if node operators can be motivated by the same decentralization/benevolence that causes people to run bitcoin nodes today. [1] https://raiblocks.net/media/RaiBlocks_Whitepaper__English.pdf https://raiblocks.net/media/RaiBlocks_Whitepaper__English.pd...
- Geee 9y ago
  RaiBlocks has PoS consensus so node operators are incentivized. It also has PoW as a spam prevention mechanism (transactions are not completely free (few seconds on commodity CPU), and you can also "cache" PoW). I think it makes sense, unlike IOTA for example.
  - Geee 9y ago
    I have to correct that actually PoS is voluntarist. Node operators don't collect fees in RaiBlocks. They operate just to secure the network and their own investment.

Vadoff 9y ago

It's not currently possible to have a crypto with 0 fees that's both distributed/non-centralized as well as very secure against attacks. If there is, Bitcoin can easily incorporate the technology.

Jsarokin 9y ago
I'd say IOTA might fit your criteria, although it's still early stage. I don't think bitcoin could integrate their tech since it's not a blockchain, but a DAG (what they call a tangle). Interesting stuff.
- gonzoflip 9y ago
  I have been following IOTA for a while now and while concept of IOTA is very neat, it appears that the community/leadership surrounding it are in shambles. The network is not really working unless you run a full node, and even then if you send your IOTA to an address you have transferred IOTA out of you can lose them forever. These issues make me very nervous about the whole project.
wyldfire 9y ago
Proof-of-stake is "very secure against attacks" but is less decentralized than proof-of-work. See Peercoin, Raiblocks.

wyldfire 9y ago

Raiblocks [1] offers zero fee transactions. It will be interesting to see if node operators can be motivated by the same decentralization/benevolence that causes people to run bitcoin nodes today. [1] https://raiblocks.net/media/RaiBlocks_Whitepaper__English.pdf https://raiblocks.net/media/RaiBlocks_Whitepaper__English.pd...

Geee 9y ago
RaiBlocks has PoS consensus so node operators are incentivized. It also has PoW as a spam prevention mechanism (transactions are not completely free (few seconds on commodity CPU), and you can also "cache" PoW). I think it makes sense, unlike IOTA for example.
- Geee 9y ago
  I have to correct that actually PoS is voluntarist. Node operators don't collect fees in RaiBlocks. They operate just to secure the network and their own investment.