thorax11's posterous

Everyone is wary of something new, for good reason. Trust takes time to build, and knowing some good reasons for adopting something new is important, here are the top 5 reasons we think you should switch from Bitcoins to SolidCoins.

Reason 1 - Speed

SolidCoin transactions happen faster and more reliably than Bitcoin. If you've ever used Bitcoin you know sometimes it can take many hours before you can do something with them. It is 2011, businesses and users expect things to happen much faster than this. They don't want to tell their customers "it could be one to 12 hours before that goes through".

Reason 2 - Security

Most people are unaware that Bitcoin is vulnerable to a drop off in mining power, the recent failure of Ixcoins proved this perfectly. People holding IXCoins could barely transfer them or do anything with them. Bitcoin is vulnerable to the exact same thing, if too many miners drop off (for instance to mine SolidCoins) the entire network could collapse leaving people with no way to get their Bitcoins out or do anything with them.

SolidCoin's new and intelligent algorithm ensures that even if miners drop off, the network continues to function smoothly. This is something businesses and users demand, utmost reliability they can move their coins around. Tomorrow you could wake up and not be able to do anything with your Bitcoins, leaving you at high risk of losing most of your investment.

Reason 3 - We make it easy

Unlike most of the Bitcoin developers we have developed commercial sites which have used Bitcoin as a currency for our users. There are massive gaps in the developer environment that make failures like MyBitcoin likely to occur again. The reputation of an online currency is utmost, if every second day there is a new successful hack attempt against sites which use Bitcoins how is it going to gain general use?

Why should you need to be a 20 year programming veteran to use Bitcoin properly and securely? SolidCoin has already improved the API to be more like that of a proper banking system, and with the coming updates will make it even easier for the average business owner to adopt SolidCoins.

Reason 4 - Fairer

Over the first 48 hours of SolidCoin's existence over 2000 people became owners of the currency. A week later it was 10000. Unlike Bitcoin's startup which ensured nearly all the currency ended up with only a handful of people. These people have since vanished and cashed out, to leave the project to stagnate with little support from early adopters.

SolidCoin on the other hand have early adopters that want an internet currency to succeed, and it has thousands of them, many of which have donated to the cause. We have learnt from the mistakes of Bitcoin and made a better and more equal system for the world, combined with a faster and more intelligent network.

Reason 5 - A plan for the future

Bitcoin's developers appear to have no clear direction to take Bitcoin. It has stagnated for some time and is being pulled in many conflicting directions. Recently one of the main developers stated the possibility of Bank of America running the Bitcoin network. One of the worst banks in the Financial Crisis to take the reigns of a decentralized internet currency? Does that sound like something you want to support?

We know that people want an easy to use internet currency that is decentralized from the existing banking system. We know people want to pay low fees. We know people want near instant transactions. We know how to scale the network securely when SolidCoin becomes bigger than the Visa/Mastercard networks. If you agree with all of this you know the future for SolidCoin is bright, we're not afraid to put our intentions in the light where you can see them.

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