Topic: alternative cryptocurrency (Read 940 times)

I like marijuana so I like all of the marijuana coins.

I think the most important thing is "more publicity".
I meet bitcoin with an altcoin (which is quite dead now).

But Dogecoin is still kicking alive and bringing lots of new people into bitcoin/crypto currency ecosystem.

If an altcoin is being pumped it can also be quite high up on that list. Careful research is important.

Some altcoin are good, the few that survive do so (usually new and fresh) thanks to the idea that makes them last over time, others however are not based on great ideas but they have a great community that supports them. Nothing can compete with Bitcoin, and that was the first (fast) means a lot in this world.

1. Alternative cryptocurrencies exists because there are some people who want to make a good profit on them, but other times, they are created so as to introduce a new feature that might be lacking in bitcoin.
2. Yup, most of them do. But there are other coins that do not follow the Proof Of Work method in order to generate more coins. There are also Proof of Stake coins among others.
3. So far, there weren't any coins created that can contest the technology there is in bitcoins. Some of them is promising (Darkcoin, Monero, etc.) while most of them are just created to get some nice profit.

Thanks your answers are very complete and useful for me!!!

To be honest, the majority of the Altcoins exist because the inventors think that they can make quick money (just as the Bitcoin rush).

all the crypto currency are not crap...because there are still some coin which are a good compitator against bitcoin

Hi.

Your questions are very debatable and this can simply start a flame war.
Best alt-coin? Hard to tell. Some are old, some have big fan base, some are anonymous. Some are bitcoin clones (with few or with big changes), some are built from scratch.
Some have big advertising (cough Dark/Dash cough..), some ... need more checking to be discovered. You'll have to do your own detective work and see which altcoins deserve your attention.

About problems: some claim anonymity and it's not sure that they actually provide it. Some can be mined by ASICs, some with GPU, some only CPU. Some are PoS (you only keep wallet open, no big resources for mining). Some are cheap IPO/ICO scame.

Afaik have blockchain, but for some you will not see that much info like for Bitcoin (like top100 richest wallets and the amounts in them). Mining can be done with hard work (PoW), only wallet open (PoS), by providing HDD space, ... maybe some others I don't know.

Some anonymous coins have a tough fight trying to be the anon alternative to bitcoin. Some just use TOR, some are college clones, some are just scam. Some are dead coins.


I will just tell the altcoins I like, for various reasons: XMR, DOGE, FIBRE, XMG. I will not tell that they are best. Time will tell if my choices were any good.


Good luck in your search!

Hi! Welcome to the forum!


There isn't "important" altcoin but there are "most used" altcoins. Litecoin, Dogecoin, NXT are some of them.


Some coins came with a few features which Bitcoin doesn't have. But most coins came into existence to scam people.


As They are coins made cryptographically, they work almost same. However, there are different algorithms for different coins. Private key and public key works similarly but coins using different algorithms, private keys and public keys will be(look) different. They are various way how a coin is minted. Bitcoin uses POW for it but other coins uses POW, POS etc...


Altcoins aren't a "challenge" to Bitcoin at any means.


Anytime.

Answering something not answered yet, the mining process got very different in various ways and coins.
There were some tries to make mining CPU only using diffrent cryptography, other coins tried making a new way of maintening the network as PoS(Proof of Stake). There were some tries making a game where you play a game to mine new blocks. There was even a coin that made you lose money for just holding it(Freicoin)!

And Dogecoin is far from important. It's the true pump and dump coin.
Litecoin at least was the very first try with Scrypt and blocks generated faster than 10 minutes.

The most important are Litecoin, Dogecoin, and of course NLG

You need to do a lot of reading my friend. Asking these king of stupid questions show your lack of interest to read stuff.

However, here s a couple of info for you:

IMHO, the most important alts would be Litecoin, Dash, Dogecoin, Feathercoin, Vertcoin, etc.

Most of these altcoin re based on BTC by design but also offer some other interesting traits, faster transactions, total anonymity, some cannot be mined by ASIC, some can be mined and staked, they have different quantities etc. Why do we need them? Well why do you need Coke, Pepsi, Fanta, Sprite, etc. They are all in essence the same, non-alcoholic beverages. People like diversity and more importantly, more coins generated more competition which makes dev teams to continue improving crypto economy. If you do not modernize, you go down.

No, you have to careful, some coins like Dash have 50% of supply locked in third party masternodes causing artificial scarcity and artificial marketcap

You have to be very careful and smart to avoid getting burned

Like theymos said, most are crap, but a few of them are actually useful.

Most of them are just copies of the bitcoin code.

1. Some coins like DRK/DASH are designed to have anonymity which currently bitcoin cannot guarantee.
2. Yes, they have similar blockchains like bitcoin
3. Well they are experimental, and are only better in one respect or the other, But bitcoin will always be the main cryptocoin.

some of them are a good testing coins for experimenting with new technology(like monero and cryptonite, the latter use mini-blockchain), other brought  many more people to the crypto scene(like doge), there is also burstcoin, that can be mined with hd only

in the end not all are useless and shit coin

99.9% of them are CRAP, here is what the admin has to say

Hi,

i would to know, what are the main importatnt alternative cryptocurrency to bitcoin??? example: litecoin, megacoin.....

- Why these kind of coin have need to exist? because bitcoin have some problem, or issue, and this type of coin are born to resolve this issue, or for another mission?

- this other coin can work with the same process of bitcoin (blockchain, private and pubblic key, process of mining??)

- the alternative cryptocurrecy can be considered a true alternative of bitcoin or these are weak to challege bitcoin??

Thanks