VC Vision for Cryptos from coinsummit

Andressen gave a very interesting and compelling talk at coinsummit this week.

Minute 20:15-23:30 is esp important

minute 34 covers things like peershares

Just making a speculation, but I believe the “Big Boys” are just going to keep shaking the Bitcoin tree until all the monkies fall out. IRS added taxes, Wall Street wants to trade. (Transparency returns to Wall Street? WTF?!) Ultimately a bunch of rich boys will scare enough people away from Bitcoin, because they are just that, scared - or too damn lazy to figure out their taxes - which, IMO should have been tracked to begin with. As much as we all hate paying taxes can anyone’s country run on good will? Hell no, people are too lazy for that too.

If the Crypto community would just suck it up and deal with their taxes and let the market stabilize and these miners retain control in a decentralized fashion I figure it could be ‘fine’, but with all these miners and people packing up and dumping Bitcoins it will not take much for these big guys to sweep in with their literal millions of dollars, buy up Bitcoins buy the 100’s of thousands, fire up start up services and start to literally centralize bitcoin, between their own uber mining rigs from their own Corporations, and the coins they are going to own and the people running scared from Bitcoin, it is going to shudder, it may even fail now.

And the reason? Bitcoins community just might not back it strongly enough - and bitching on forums is not fighting, action is fighting.

Tangent… I’ve only truly seen one Crypto do what it says, Peercoin. Long term savings, simple, short, sweet. Bitcoin was always jealous of the US Dollar(fiat in general) and it aspired to be like it. It wont be. BUT if it becomes centralized by the big heads over in Corporation land, guess what… they could end up controlling it and doing whatever the heck they wanted - they might even get it stable enough…who knows.

Tangent 2… Make a coin that has a check and balance directly against the rising/lowering cost. A coin that remains relative to 1unit to 1USD (for example) If the Unit starts to rise above 1USD mining and PoS difficulty decrease and more coins enter the market at a faster pace, if the coin value starts to drop create a steep increase in the difficulty to lower the total coins entering the market. Here is a good example of something where would be useful in that you could have a monitor showing the direct value multiplied out of the total coins in circulation, wouldn’t need anything too fancy. This wouldn’t be a premine coin or anything like that (could use an existing coin?). If everyone wants something so much like Fiat, then make the coin more like it, stable (in a sense of the word)

I could go on, but It’d just become a rant.


PS. I’m obviously no economist, I am just a dreamer - so don’t hit too hard if these ideas would never work :slight_smile:

[quote=“Ken”]What I don’t get is, why do all these VC guys and tech companies invest so much hopes, time and capital in Bitcoin, when Bitcoin is so vulnerable to being destroyed… possibly relatively soon?

You would think they would be more interested in Peercoin if they did their due diligence. It tickles me the ‘network effect’ and brand of BTC is paramount to them over its inherent (highly dangerous) insecurities.[/quote]
I think the answer to that question. Don’t want to be too negative, but we are invisible for them and we don’t have our marketing pitch in order. The better product is not always chosen, if it is not clear it is the better product. Sad but true. So we have to really work on that.

Just my 0,02 PPC

[quote=“Ken”]Here’s an idea:

We send out a mass mailing (paper with letterhead with Peercoin logo) to all the silicon valley/alley/wherever VC’s and captains of tech industry telling them in a brilliantly-written letter why 1) BTC may fail spectacular for legit reasons 2) How Peercoin is brilliantly designed and underpriced 3) How first-mover opportunities are far greater in Peercoin.

Cost: stamps, envelopes and paper.[/quote]

Something tells me that won’t work. If you look at the wave of clean energy investments that some big name VCs made a few years ago, some of them were clearly sketchy but they tossed away their millions anyways, and it’s not like they aren’t going to try to diversify with cryptos either. Marc Andreesen mentions investing in bitcoin payment companies and such, which at this stage could feasibly adapt to use all the crypto networks and give Visa some real competition.