"Why VC Tim Draper bought all those bitcoins"
http://www.cnbc.com/id/101816404#.
"But the money does not lie in mining the currency, which is done with powerful computers which crack code problems to free up bitcoins. That space is competitive, and most of the people mining bitcoins are probably doing it for fun, Draper said.
Instead, it is the currency's usefulness that will fuel its ascent."
Reading that article, it sounds like Tim Draper needs to buy himself a few VeriCoins!
This it the next step in crypto evolution. Taking it out of the niche groups that control 30-50% of mining production and finding a crypto that begs everyday people to spend it.
Will it be VeriCoin or another I do not know. Usually first to market means something in crypto. The team that shows the vision usually leads, while the others catch up.
People who need money transfer want ease of use. Mining complicates the whole bitcoin equation. To go mainstream you need to put it in normal peoples hands and have them benefit from the service. The whole it doesn't have value because its pulled out of thin air is nonsense. The services being created around the coin are what give it value. The more innovation / things you can do with a coin, the more value it naturally has.
Wasting power does not equal value. The technology is here. While most coins focus on making a anon feature more anon, or trash talking other coins success. These guys show that they see a market out there much larger than crypto is currently. VeriCoin wants to take new people into the crypto world. Not take others share. The hardcore crypto nerds probably don't need a service like veri-bit, so people come here to troll its value.
When the fact of the matter is. If grandma wants to send lil Timmy some money for his birthday last minute because she forgot. What is the fastest way to get money from 1 part of the world to the next, while also being the most convenient for a new user? The only option right now for most people it Bitcoin.
VeriCoin with its integrated wallet features has the potential to be the first coin where you can say. Well, there just might be a better alternative for you grandma than Bitcoin!
Its actually more useful than a bitcoin. Being the first coin to leverage Bitcoins full ecosystem from within the wallet, plus access VeriCoin payments. That effectively makes VeriCoin the worlds largest crypto payment portal. A great start for the PR team to work with in the months and years ahead.