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Exactly... Even if you take the assumption that bitcoin will fail, the problems/issues the protocol or something similar solves are far too beneficial to ignor

Exactly... Even if you take the assumption that bitcoin will fail, the problems/issues the protocol or something similar solves are far too beneficial to ignore. So basically if bitcoin fails, some other similar form of digital currency will rise up in its place. I feel as though its a 'cat is out of the bag' scenario.

waps 13y ago
Yes it does seem like bitcoin is lacking in a few places. You could (try to) add things like * disconnected operation (solve the double spend problem in a disconnected setting) (this would really make something gold-equivalent) * a provably correct, but cryptographically secure ledger (meaning real anonymity) * proof of work based on a single crypto standard seems risky. Use 5 of them. * provably no way to compromise the network even with overwhelming computational power
- eru 13y ago
  Zerocoin is trying to solve the second problem. Combining 5 proof of work standards just gives you 1 new one. (There might be some robustness to be gained, though.)
  - waps 13y ago
    Cool, I didn't know about zerocoin. There goes my afternoon.