Topic: Alternative Cryptocurrency Research (Read 1576 times)

1. The creator of a new coin can just instamine from the beginning like everyone else does
2. If the coin is really new and contributing to the community there are a lot of people donating even small amounts to support ongoing development by the dev

Imo this is the point of open source, you are paid either by donations or special services on top of this (company support, special services like gambling and so on)

As I see nobody likes the premine and this has a significant effect on any of alt coin acceptance.
Ok, no one likes somebody having the biggest chunk of common wealth. But why are you, guys, so agressive against those who just takes a little as a fee for new currency developing? Of course when this currency is not "yet another clone"

Dear Alice! Please note that NVC (Novacoin) is a premined scam. It's high price is a result of heavy pumping. It will go up to $0.01 in December.

I recommend having a look at Curecoin:

https://bitcointalksearch.org/topic/pre-ann-curecoin-development-continues-330685

I love WDC alot, with that being said FRK and WDC have the same estimated transaction speed.

but Franko is more fair, and way more scarce.

Franko subsidy halves every 22 years giving everyone in the world an equal opportunity to adopt the new technology and not just the early adopters. Franko will mint only 11.2 million FRK and take 5x as long to produce as BTC, making frk more sustainable long term.

Alice, novacoin's website has been down for the past few days. If it goes on like that, people would be really concerned and may start to dump, which will negatively impact market cap. New users certainly cannot download novacoin wallet, or even read about novacoin. I tried to do that in the past few days and couldn't. This website downtime could be a one-time event or not, we'll have to wait and see to make any balanced judgement, but it certainly doesn't add to novacoin's credibility at this point.

Stability of the network and active developers maitaining their software and fixing it promptly should any bugs happen to the software or the network are two most important factors. If the website is down, who is maintaining it? It can go by itself for some time, but if devs don't invest time in it, it would be a slowly dying enterprise. I am not saying NVC is dying at the moment, just it doesn't look good from the marketing perspective right now.

Well in order for an alt coin to move into mainstream adoption, it needs to have an unique factor. For example, Bitcoin currently is so big because it is the first, Litecoin is doing so well because it was the first with an alternative hashing algorithm, PPCoin or Peercoin as they now prefer, is doing so well due to the Proof of Stake rather than the Proof of work that bitcoin is using.

When you understand these coins, you can start digging in a bunch of others, the one thing to always remember, is that they need a unique factor, something that makes them better/different than others. (Just shuffling block times and coin volume doesn't make a successful coin)

There are many possible factors that could make an alt coin succeed, some problems are known, if you can fix one or multiple of those it would create a strong alt coin. However some problems are not yet known, due to the fact that this technology is so new. The reference to the internet gets drawn here a lot, due to the fact that a crypto currency is a multiple of things. It's a protocol (like tcp/ip which connects everything on the internet), its a payment network (like paypal), and it is a currency (like the US dollar)

An alt coin can succeed by significantly improving one out of these three, however it has a lot more chance of success when there are significant improvements in all three.

For example, some people worry that the mining of coins, costs to much electricity. If you could solve that problem, without negating any of the positive aspects of the coin it would definitely be a reliable coin. (imo any crypto currency is way more efficient in power than any fiat, just by looking at transaction fees, but ofc that doesn't mean we could improve more)


Any coin could take off, but I haven't seen one yet that has such a major advantage over Bitcoin or Litecoin, that would allow ignoring the network effect of both of those coins. (the more pc's running, the harder the coin is to manipulate, the safer your money is.)


Personally... What I've learned here (never had to much economics at school)
Market Cap is a designator for how many people are interested. (money = interest, more money = more interest)
Coin value is market cap divided by amount of coins available minus exchange hassle to get money in and out. (we are seeing this more clearly with bitcoin than any of the alt coins, the effort of getting money in and out of an exchange, influences the price)
The next one you want to be interested in is trading volume, the more that gets traded every day, the more popular the coin is and becomes.

The only reference for studies like this I can think of, is market analysis for Visa/Mastercard/Amex/Paypal on how to grow in markets. I would assume similar rules would apply to any crypto currency in getting lift off quickly. The big difference though is, that this is an open source community, rather than a company. So you'll most likely also need to get some papers on open source community behavior.

To be honest, its a challenging study, the complexity of crypto currencies is big. I don't even pretend all things tried out with alt coins, some failed horribly others might succeed gigantically. Either way I wish you a lot of success, and am happy to hear that there are already studies being towards these new crypto currencies.

Just seeing this now, you got a colleague working on bitcoin, you wanna see in how far you can combine both studies, as they have a lot of similarities. For example without Bitcoin there were no alt coins, without alt coins, some of the features in Bitcoin today wouldn't exist.

stick with Litecoin.

Okey.
So, according to laowai80 advice I have opened http://coinmarketcap.com/ and that's what I have seen:

Novacoin has the highest price ($21.26).
But
PPcoin is on the third place. It's market cap is rather high ($ 56,407,676).

So what is more important for market NVC or PPC?

I like NVC more, am I right?

- the most important thing about altcoins (as well as bitcoin): cryptocoin is unique decentralised indissoluble mix of money and payment system.

Hello, Alice.

Basically, everything depends on how popular bitcoin becomes among online and offline stores. Currently bitcoin network handles about ~1 transaction per second. It can't scale to more than ~7 transactions per second with the current block size. Major credit card companies handle thousands of transactions per second around the globe. So, the main factor of alt-coins' more wide-spread usage will be limitations of bitcoin to handle many transactions. If people have to wait a long time for their transaction to go through the bitcoin network, they would naturally switch over to alternative coins. Litecoin is the first in line, but then you should check out the first 10 coins in the http://coinmarketcap.com/ list. Two or three of those ten coins are pretty vague or special purpose coins (Namecoin, Photoshares), but the others are pretty good next candidates to handle part of the transactions burden, once bitcoin and litecoin networks are fully loaded.

1 transaction per second, and even 7 transactions per second for the whole world really means nobody is really using bitcoin yet, not to mention other coins. To give a perspective, Visa can handle 10 000 transactions per second.

WorldCoin

*WorldCoin is faster than any other crypto currency at this time with a confirmation time of under 30 seconds. Allowing for mainstream credit card competition.

*There is a massive amount of power going into WorldCoins development and the team consists of businessmen, lawyers and entrepreneurs(http://www.worldcoinfoundation.org/board-members).

*Financial services are being integrated in December along with merchant services for Scharmbeck. This means there will be payment protocols allowed for web services much like PayPal. Also users will have the option of USD to WorldCoin conversion and WorldCoin to USD conversion instantly into their bank accounts (https://scharmbeck.com/).

*Scharmbeck also has FinCen approval this means it is well within the regulatory statures of the U.S. Government (http://www.fincen.gov/financial_institutions/msb/msb.registration.letter.html?ID=5033370). Shares are also now available for this service as well as a excellent mining pool.

*The WorldCoin Development Team are creating a service which will stop 51% attacks. Bitcoin has this fault, this is already being implemented and can be a breaking bug for Bitcoin.

*WorldCoin has an extremely marketable name and shows users exactly what they are getting within the currencies infrastructure a complete World payment system.

thanks. i will.
According to MicroGuy oppinion I  should start with Litecoin. What's next? There's lot of currencies names, but what of them is number 3 in alt coins world?

Thanks for advice.

I should admit that my research is not about story of cryptocurrencies and not about technology aspects.
It's about factors that may move alt coins from innovators and early adopters zone to early majority sector on the Tech Adoption curve and futher.

What alt currency have a chance to be accepted everywhere? When this will happen? Why do you think so?

Basically, look at innovations brought to market and support and there should be some sort of growth trend

Many alternative coins (not all) have picked up with the innovation that stalled in 2011 with the disappearance of Satoshi and his abandonment of the Bitcoin project. My view is that like the early search engines of the internet, a few competitive altcoins will emerge into the mainstream and eventually win out in terms of consumer adoption, marketplace acceptance, and means of value store. Your research should begin with the work of Satoshi then proceed to the creation of Litecoin followed by an exploration of current innovators like the 51% attack defense being developed by Goldcoin. IMO.

I’m Alice Chittenden (not that wonderful artist, sorry). I study Economics Science in my University and I’m about to start my master thesis.

Me and my professor are very interested in Future of Money, so we’ve decided that my work will be devoted to cryptocurrencies.  As one of my colleagues has already started bitcoin research I gained the work on alternative coins.

The theme of my research  is: “Fundamental factors affecting alternative cryptocurrencies prevalence”

I really have googled and read a lot.  For example here (https://bitcointalksearch.org/topic/list-of-all-cryptocoins-134179) and on cryptocointalk , on TED and everywhere else.

But I’m still need some help.
How do you think what is the most important thing about alternative coins and their performance?
From what point should I start my research?

Thanks in advance for your answers!