Hacker Newsnew | past | comments | ask | show | jobs | submit | tmlag's commentslogin

And unlike land you can start BTC2, BTC3 and so forth if people are no longer content to pay the early adopters and want their own pyramid scheme.


People have created btc2, btc3, times a thousand. Look at all the altcoins out there. Yet all the clones of bitcoin are worthless because it's a direct copy of the protocol or with minor alterations (it's akin to trying to convince people to use a different protocol than TCP for the internet, and to use your version of it instead).

Those clones have almost no one mining with it, thus limited hashing power, thus no ability to secure transactions on the network. The amount of hashing power + number of nodes makes the protocol decentralized and secure, and thus far only Bitcoin has that and none of the clones.

There's a bunch of people that have little to no knowledge about the space coming in and buying new coins believing it will make them rich, but they're usually clueless about the underlying technology.


Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: