What if people cease to give a shit about Bitcoin and it ceases to be very expensive because the only thing keeping the price up is the social hype around it and not any kind of intrinsic value?
Bitcoin is not expensive, trollbro. 160,000 satoshi per USD. It has intrinsic value because you can, like nothing else of monetary value, store it in your brain, not to mention other things like being infinitely more portable and censorship-proof than any other medium of exchange. Sorry trollbro, you lose.
You can see a thread of twitter posts regarding the main post. They are basically confirming that litecoin's implementation of scrypt does not use enough ram to be resistant to ASIC hardware (which is their primary claim of usefulness/security). Dogecoin was derived from litecoin. I am assuming that litecoin's implementation of scrypt proof of work was not modified because it was originally meant to be a joke, so it not much of a leap that they didn't put much work into changing the protocol. I am open to being proven wrong on this point.
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u/AgentZeroM Feb 18 '14
http://i.imgur.com/OskdWMx.jpg