Cryptos: to unify or not with Bitcoin


#1

This is an ongoing public conversation on facebook around the theme of unification of cryptos.
Bitcoiners have invented and support the term of “alt” to separate themselves from others and create a societal elitism.
Corollary: they are not for the cryptocurrency movement, are they?


#2

Maximo has a few good criticisms of altcoin. The biggest one in my eyes is that bitcoin will absorb all altcoin technology into itself. My argument against this is:

While bitcoin may be able to absorb altcoins in the future, it cannot do it right now. Which means altcoins have value right now. By the time bitcoin starts to absorb altcoins, those coins will have huge network effects and bitcoin will have to fight it. Much like how altcoins had to fight bitcoins network effect on the way up.


#3

How do you see bitcoin absorb altcoins?


#4

Through sidechains or smart contracts is the most likely way. But that these are a quite far from being feasible yet.