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Totally agree, as a Bitcoin fan who also sees Dogecoin as a positive sign. Some Bitcoin boosters believe "there can be only one" winning digital currency, and
by gojomo 13y ago
Totally agree, as a Bitcoin fan who also sees Dogecoin as a positive sign.
Some Bitcoin boosters believe "there can be only one" winning digital currency, and hope/predict it will be Bitcoin.
I instead expect many to be tried, most to fail, but a wide variety to survive and live in strange, ever-changing symbiosis. They're just so easy to bootstrap, now, and the possibility/exploration space is so large. Bitcoin might always hold a special position, as the first, most-capitalized, hard-money option (and as Klabnik notes, gateway)... but many of its assumptions may not fit other niches. All sorts of subcommunities, including pranksters, can assign moneyness/value to whatever they'd like easier than ever before.
I'd especially expect regional movements and cross-cutting projects to mint new tokens as a tool of common-purpose and incentive-coordination: something straddling the worlds of equity and currency.
Crazy times ahead. Dogecoin may eventually seem obvious and mundane in retrospect.
- steveklabnik 13y agoYup. The lighthearted nature of both the coin and the community is drawing a lot of attention from people who haven't cared about cryptocurrency before, including myself. It shouldn't be that surprising to anyone on Hacker News: marketing is important. Bitcoin was all "we're going to destroy fiat currency, fuck the government." Dogecoin is "hey lol isn't this silly? Have some coins." It's no wonder that people are reacting to it in a completely different way, even though they're (basically) the same thing. > They're just so easy to bootstrap, now, and the possibility/exploration space is so large. I saw a tweet that said "Hottest Christmas gift 2013: build your own cryptocurrency kit." Since all of this is open source, it should be really interesting to see what happens once you can basically alter a configuration file and get your own currency, wallet (online and off), exchange, HFT bot, faucet, poker site... Not to mention the more 'serious' altcoins, like Sexcoin. I haven't investigated that coin in serious detail, but coins trying to take on a specific vertical are _very_ interesting. And that's not even getting into things like Namecoin, which build legitimately new tech on top of the blockchain. It's all terribly interesting.
- skinnycow 13y agoI really, really like you and really respect you, but a lot of this is projection: >Bitcoin was all "we're going to destroy fiat currency, fuck the government." Dogecoin is "hey lol isn't this silly? Have some coins."