|2017/11/03 02:59, Kirby: || |
'I didn't previously understand that the proper BTC and those alternative currencies are somehow linked to each other - is that what you are saying?'
They are not linked. There have been numerous 'exchanges' over the years that will list sell/buy orders for both Bitcoin and other supposed 'altcoins' together, but in terms of the function of their respective protocols, no they are unrelated.
'Can't a guy run a Bitcoin node and node for some other currency side by side but completely separate? '
'Now I am only interested in the time when no more bitcoins can be mined, and the only way to acquire more bitcoins for yourself would be to trade something for it - for example your work hours, house, or potatos that you farm.
What stops people from launching a new currency, however weak in the beginning, just to create money out of thin air from and by people like Zepir here? '
Nothing stops them, of course. I am just saying that the nodes running the original Bitcoin codebase form the strongest network (and, in my and many smarter than I's opinion, the only -relevant- cryptocurrency network), on the basis of many factors. So you can create an infinite number of alternatives, sure, but they won't be Bitcoin no matter how hard they market themselves.
I do agree with Zephir that people DO make tons of *short-term* gains by arbitraging these different cryptocurrencies. I am merely trying to warn that this is a risk gambit. It is essentially gambling (and the games are rigged).
There's also two separate ways to look at this whole cryptocurreny thing:
1) Try and manipulate the hype to gain short-term gains by *betting* on the lifespan of the latest Not-Bitcoin (ether).
2) Just ignore the hype and hold your value in Bitcoin proper, understanding that the REAL value in Bitcoin is that it is a store of value that is not dependent on any particular Nation's currency to back that value. Really, Bitcoin is more of a country than a currency. That is what gets lost in mindset 1) above..