/biz/ - Business & Finance

>>15035709
>No. The fundamental reason is the inability of bitcoin (or another chain with a two way peg) to act as an ETH SPV client. If that were to change then two way pegs between BTC and ETH are possible.

this is obviously true. odds don't seem good, but it's not impossible.

>What you described is just a long winded "it's an erc20 with pow, bitcoin in the name, and 21M supply". If 0xbitcoin can leech off of the BTC brand successfully, then the entire selling point of being bitcoin is already gone as it's not scarce when there's other projects also considered "Bitcoin".

you say it's leeching off the name, but what else would you call a faithful port of the value mechanics and emission properties of Bitcoin to Ethereum? it was the first to do that and has first-mover advantage.

0xBTC has maintained probably ~99.9% of all the hashpower of PoW mineables running on ethereum, amounting to 5-10 TH/s currently, so obviously miners believe it is worth mining.

people have tried to duplicate 0xBitcoin many times in the past 1.5 years, but none of the clones have taken off, just like people tried to clone or fork Bitcoin onto separate chains and almost all of the clones failed, though a few have decent purpose and gained some value. so far all the clones of 0xBitcoin lack a compelling differentiation.

but obviously a growing number of people see a compelling reason for 0xBitcoin to exist in addition to Bitcoin, for the reasons i mentioned.

saying "if someone can copy Bitcoin and the copy comes to have value, then Bitcoin is worthless" is not at all accurate. that's like saying that the USD and GBP can't exist simultaneously, or that gold and silver can't both be money at the same time.

yes, any port or copy of Bitcoin competes somewhat with Bitcoin, but we are still in a growing market, so competition doesn't necessarily decrease the existing market cap of Bitcoin anyway.

0xBitcoin definitely isn't trying to replace Bitcoin and certainly can't obviate it.

>>14989845
>The pump was over a year ago....

99.9% of biztards are pumping. 1 in 1000 are actually doing something in their project of choice. the former will get a clue or die poor. the latter will keep bulding until they are successful.