Decentralized Blockchain-Based Electronic Marketplaces

Re:Decentralized Blockchain-Based Electronic Marketplaces by empath75 on Sunday January 14, 2018 @03:21PM (#16146152)

Scarcity doesn’t exist because anyone can start their own blockchain and pretty much anyone who can has. There’s nothing preventing anyone from relaunching an exact duplicate of bitcoin with all of its strengths and weaknesses at any time other than inertia.

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Re:Decentralized Blockchain-Based Electronic Marketplaces by ThomPete on Sunday January 14, 2018 @03:24PM (#16146165)

You are missing the point here. It's about the history of the individual coin not about the technical properties of coin in itself.

You can build as many cryptocurrencies as you want to. They aren't bitcoin as they don't have the history of bitcoin which means that they aren't the same.

Only bitcoin is bitcoin, because only bitcoins has the history they have.

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Re:Decentralized Blockchain-Based Electronic Marketplaces by ufo on Sunday January 14, 2018 @07:08PM (#16147420)

Bitcoin forks like Bitcoin Cash and Bitcoin Gold use the same block chain history as Bitcoin.

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Re:Decentralized Blockchain-Based Electronic Marketplaces by ThomPete on Monday January 15, 2018 @05:54AM (#16149789)

You are also missing the point here. You can't get the same for bitcoin cash as you can for a bitcoin. So no they don't use or have the same history after the fork and they aren't the same which is why one is 4 times more worth than the other.

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Re:Decentralized Blockchain-Based Electronic Marketplaces by ufo on Monday January 15, 2018 @10:55AM (#16151219)

Of course you cant get the same for them! It is expected that a fork that creates new coins out of thin air will lead to cheaper coins.

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Re:Decentralized Blockchain-Based Electronic Marketplaces by ThomPete on Monday January 15, 2018 @11:06AM (#16151299)

And so scarcity still exists which was the original point I made and which was being challenged.

Each coin has a unique history. You can create as many forks of bitcoin as you want it doesn't change the fact that there is only one bitcoin.

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Re:Decentralized Blockchain-Based Electronic Marketplaces by oculusthrift on Sunday January 14, 2018 @05:00PM (#16146746)

right and anyone can start their own twitter too

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Re:Decentralized Blockchain-Based Electronic Marketplaces by stale2002 on Sunday January 14, 2018 @03:47PM (#16146312)

I can go get a printer, and start printing stale2002 dollars, right now, perfectly legally.

Does that mean that paper money isn't scarce?

Dollar bills, of course, are protected from counterfeiting, in the same way that bitcoins are.

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Re:Decentralized Blockchain-Based Electronic Marketplaces by QAPereo on Sunday January 14, 2018 @03:56PM (#16146367)

That would be legal, but critically attempting to redeem them for current USD would be a crime.

So no... not the same.

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Re:Decentralized Blockchain-Based Electronic Marketplaces by stale2002 on Sunday January 14, 2018 @04:40PM (#16146647)

It is exactly the same.

First of all, I COULD sell my stale2002 dollars for real dollars, at market price, as long as I am not lying about what I am selling.

The price of my sale2002 dollars would probably be ~0, but I am still not breaking the law.

If you fork Bitcoin, you can't redeemed your forked coins for real Bitcoin, either.

It would be a completely new and different currency.

The same exact thing is the case with my new paper bills.

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