Predictions for 2014

[bhldev]

[quote=“Cybnate, post:20, topic:1436”]As long as we’re being paid in fiat and have to pay most bills in fiat, cryptos will reflect the value of fiat

Once that changes, cryptos will more directly reflect the work and economic output of the world and compete with fiat as a currency.

If everyone suddenly wants gold instead of Euro or US$ then most will end up very disappointed. Therefore fiat only reflects the amount of confidence we have in it and its central bankers.[/quote]

It is far more than that. You must pay taxes in fiat, which means everyone must deal with fiat or face prison. Even if you only convert to fiat to pay taxes. And taxes most accurately reflect the economy (when the economy is bad tax revenue goes down when the economy is good tax revenues go up all others equal).

As for gold, won’t happen. Not liquid enough.

If crypto really gets so popular everyone accepts it and uses it as the common man, governments or large Silicon Valley startups funded by billions if not trillions of dollars will take the main advantages of crypto (near instant transmission, no chargebacks) with the full backing and faith of the government. Ripple is only the start there will be many more second gen currencies like Ripple whether or not Bitcoin aficionados like it. Nothing stops fiat from being crypto as well. That is why I see promise in Peercoin because it is a store of value. Fast transactions, no chargebacks, anonymity, and whatever else can and will be co-opted by tech savvy governments. Will the common man use Bitcoin or a Bitcoin clone backed by the full trust and faith of the US government? Pour enough money and you will win. The government will win that fight.

[Cybnate]

Interesting post. Not sure about The Government. There are many governments in this world. Even in the unlikely event that US government starts to issue American ripples or something backed by the US dollar and accept tax payments by it, that wouldn’t mean any other country would accept that. So we will still have a competition of currencies worldwide in someway or the other.
Only the ones with the most confidence (read most solid backing) will survive, but that might not be American ripples on a worldwide scale. They might survive on their internal market for a while with enforcing a monopoly though. But the world becomes a global economy more and more and major companies may choose to deal with more solid currencies in the future. They will eventually ‘stimulate’ governments to accept other means of payment (if there is real value/profit in it for them) or leave the jurisdiction. The real power is with the multinationals, any government is just a puppet on the world podium.

But I agree that we’re talking about a more distant future here than just 2014

[bhldev]

[quote=“digitalpro”]Also @caribou,

I would have said the same if not had more and complete details about XNF-NoFiatCoin.

It seems you are under the impression that XNF compulsorily have to redeemed for bullion (Gold and Silver) to cash it, which is incorrect!. XNF can be exchanged to XRP to BTC to USD.

Secondly, A crypto currency need not be exactly same as bitcoin, It can have any feature to make it work.

Lastly, buying crypto currency is not equal to buying physical bullion, both are way different. You cannot move to with your bulion, You cannot instantly transfer bullion international, Value of gold may not increase as swiftly as digital currencies etc.[/quote]

I could continue, but I find talking down coins (other than publicly known scamcoins) on altforums to be a distasteful tactic at best so I will cease discussion. I probably shouldn’t have made my original post. Perhaps we can continue the discussion if some official from NoFiatCoin were to post in altcoin forum to defend it. I am quite possibly wrong about XNF. I wish you luck on buying XNF I on the other hand will be loading up and buying more peercoin.

[bl1nx]

$25 ;D

[jubalix]

[quote=“Cybnate, post:5, topic:1436”]Nice catch. This is promising. Just bought a few more PPC. Would also help to mint blocks.

Predictions may only become true because they were predicted :o

The ‘browser’ for cryptos, interesting. The killer-app I would say. Tokens, IPOs, DACs call them all out. The concepts are already out there what is going to break through in 2014? Mobile wallets with NFC? Distributed messaging/news? Distributed AI entities?

So maybe the cryptos are not real game changers, just the protocol and the predecessor to something even bigger.

For Peercoin it would be great to get the ability to add metadata to the blockchain with 0.4, this would enable further innovation. I expect not much less from Sunny 8)[/quote]

I like how thin and fast the blockchain for Peercoin is and that it aims at backbone market which is where the real value is, big $, trillions, not the 10’s million of craptastic on ebay/amazon/newegg/ retail space.

So stuffing the blockchain full of data may dilute what PeerCoin aims for.

Big end banks, buying houses, settling the nightly, currency swaps etc, they want/require a clean, no mess, clear system. PeerCoin becomes the merchant bank space, the rest squabble in the retail space. You can almost hear your footsteps echo down our minted marble floors when you come into the PeerCoin forum/world.

[NewMoneyEra]

@jubalix

Big end banks, buying houses, settling the nightly, currency swaps etc, they want/require a clean, no mess, clear system. PeerCoin becomes the merchant bank space, the rest squabble in the retail space. You can almost hear your footsteps echo down our minted marble floors when you come into the PeerCoin forum/world.

Jubalix,
I applaud your ability to think big! Although, I’m not sure if computers are capable of creating enough decimal places to divide down the gigantic value of a future Peercoin enough to buy mere single houses. And, surely, you must admit you neglected to mention Peercoin’s future value (divided way down of course) for purchasing the upper crust of the private jets and mega yachts! Being inherently modest as we are - not that we would want those things. Billy Gates, Buffet and Donny Trump will pine away to be our doormen! Eventually, I’m sure Peercoin will become the unit of account among the Gods… Be sure to get all you can here in early 2014 while the price is still within reach of us mere mortals - for we won’t stay this way for long… Hahahaha!
Happy 2014 !!!
And, the Best to Everyone !!!

NewMoneyEra

Remember… Sunny is really smart,
and he often reminds us to have FUN!!!

[Cybnate]

[quote=“jubalix, post:25, topic:1436”][quote=“Cybnate, post:5, topic:1436”]Nice catch. This is promising. Just bought a few more PPC. Would also help to mint blocks.

Predictions may only become true because they were predicted :o

The ‘browser’ for cryptos, interesting. The killer-app I would say. Tokens, IPOs, DACs call them all out. The concepts are already out there what is going to break through in 2014? Mobile wallets with NFC? Distributed messaging/news? Distributed AI entities?

So maybe the cryptos are not real game changers, just the protocol and the predecessor to something even bigger.

For Peercoin it would be great to get the ability to add metadata to the blockchain with 0.4, this would enable further innovation. I expect not much less from Sunny 8)[/quote]

I like how thin and fast the blockchain for Peercoin is and that it aims at backbone market which is where the real value is, big $, trillions, not the 10’s million of craptastic on ebay/amazon/newegg/ retail space.

So stuffing the blockchain full of data may dilute what PeerCoin aims for.

Big end banks, buying houses, settling the nightly, currency swaps etc, they want/require a clean, no mess, clear system. PeerCoin becomes the merchant bank space, the rest squabble in the retail space. You can almost hear your footsteps echo down our minted marble floors when you come into the PeerCoin forum/world.[/quote]
It’s is great to have a lean blockchain and I agree we need to keep it as lean as possible. However we need to compete with the world around us and provide some additional attractive services to increase value and acceptance. When implemented smartly the amount of metadata required in the main blockchain can be minimal e.g. with separate optional blockchains with detailed information which directly link to the master Peercoin blockchain which can be sold at a premium transaction cost. How those nested blockchains would work in more detail is probably a topic for another thread.

With nested blockchains people who only need the core services still enjoy a lean core blockchain while we still can serve more demanding customers who want extended services in separate blockchains and are willing to pay for that. They would be the only ones who need to download the nested, but potentially more bloated blockchains. To ensure distribution you probably need to have a separate fee in that blockchain which can be used to ensure additional security and distribution of those additional blockchains. E.g. you can add an additional 1% PoS on top of the 1% PoS in the core blockchain specifically for securing those ‘bloated’ blockchains. Interesting is that this would basically exploit a weakness in the PoS system by enabling people to PoS on multiple in this case nested (potentially bloated) blockchains with the same coins in a way that it adds value to the network. I think Peershare could also profit from this type of integration achieving a win-win.

Just a thought: People on minted marble floors usually have more demands than average, but are also able to pay for it. I think we should not leave that market to someone else (e.g. ethereum) and therefore prepare the network for those smart solutions which can possibly sold at a premium.

Hope this is a self-fulfulling prohecy

[jubalix]

[quote=“Cybnate, post:27, topic:1436”][quote=“jubalix, post:25, topic:1436”][quote=“Cybnate, post:5, topic:1436”]Nice catch. This is promising. Just bought a few more PPC. Would also help to mint blocks.

Predictions may only become true because they were predicted :o

The ‘browser’ for cryptos, interesting. The killer-app I would say. Tokens, IPOs, DACs call them all out. The concepts are already out there what is going to break through in 2014? Mobile wallets with NFC? Distributed messaging/news? Distributed AI entities?

So maybe the cryptos are not real game changers, just the protocol and the predecessor to something even bigger.

For Peercoin it would be great to get the ability to add metadata to the blockchain with 0.4, this would enable further innovation. I expect not much less from Sunny 8)[/quote]

I like how thin and fast the blockchain for Peercoin is and that it aims at backbone market which is where the real value is, big $, trillions, not the 10’s million of craptastic on ebay/amazon/newegg/ retail space.

So stuffing the blockchain full of data may dilute what PeerCoin aims for.

Big end banks, buying houses, settling the nightly, currency swaps etc, they want/require a clean, no mess, clear system. PeerCoin becomes the merchant bank space, the rest squabble in the retail space. You can almost hear your footsteps echo down our minted marble floors when you come into the PeerCoin forum/world.[/quote]
It’s is great to have a lean blockchain and I agree we need to keep it as lean as possible. However we need to compete with the world around us and provide some additional attractive services to increase value and acceptance. When implemented smartly the amount of metadata required in the main blockchain can be minimal e.g. with separate optional blockchains with detailed information which directly link to the master Peercoin blockchain which can be sold at a premium transaction cost. How those nested blockchains would work in more detail is probably a topic for another thread.

With nested blockchains people who only need the core services still enjoy a lean core blockchain while we still can serve more demanding customers who want extended services in separate blockchains and are willing to pay for that. They would be the only ones who need to download the nested, but potentially more bloated blockchains. To ensure distribution you probably need to have a separate fee in that blockchain which can be used to ensure additional security and distribution of those additional blockchains. E.g. you can add an additional 1% PoS on top of the 1% PoS in the core blockchain specifically for securing those ‘bloated’ blockchains. Interesting is that this would basically exploit a weakness in the PoS system by enabling people to PoS on multiple in this case nested (potentially bloated) blockchains with the same coins in a way that it adds value to the network. I think Peershare could also profit from this type of integration achieving a win-win.

Just a thought: People on minted marble floors usually have more demands than average, but are also able to pay for it. I think we should not leave that market to someone else (e.g. ethereum) and therefore prepare the network for those smart solutions which can possibly sold at a premium.

Hope this is a self-fulfulling prohecy[/quote]

I have to agree with you, there is some need for good add ons to a blockchain, and this can likely be done in a thin high value add for PeerCoin. PeerShare for example looks to be doing this and has attracted some serious capital.

It is win, win.

PeerCoin is the long, long game. for those that can see beyond the short buzz of getting a new plasticy thing and waveing it around feeling good until the next one comes out 10 seconds later.

PeerCoin is about those who value the inculcation of deep learning to the next generation and themselves about matters of worth. Their frivolity would be to spend on a library of quality books, when you can get it digitally.

[jubalix]

@NewMoneyEra

[quote=“jubalix, post:25, topic:1436”]Big end banks, buying houses, settling the nightly, currency swaps etc, they want/require a clean, no mess, clear system. PeerCoin becomes the merchant bank space, the rest squabble in the retail space. You can almost hear your footsteps echo down our minted marble floors when you come into the PeerCoin forum/world.

Jubalix,
I applaud your ability to think big! Although, I’m not sure if computers are capable of creating enough decimal places to divide down the gigantic value of a future Peercoin enough to buy mere single houses. And, surely, you must admit you neglected to mention Peercoin’s future value (divided way down of course) for purchasing the upper crust of the private jets and mega yachts! Being inherently modest as we are - not that we would want those things. Billy Gates, Buffet and Donny Trump will pine away to be our doormen! Eventually, I’m sure Peercoin will become the unit of account among the Gods… Be sure to get all you can here in early 2014 while the price is still within reach of us mere mortals - for we won’t stay this way for long… Hahahaha!
Happy 2014 !!!
And, the Best to Everyone !!!

NewMoneyEra

Remember… Sunny is really smart,
and he often reminds us to have FUN!!! :)[/quote]

Being inherently modest as we are - not that we would want those things. Exactly…also PeerCoin would look to a future where people would not have to be doormen if they so desired.