Topic: Are the anonymity coins a 'fad' (pump of the month) like the country and animal (Read 1700 times)

QFT

Fad and i'll tell you why

Apart from the possibility of regulatory issues, if the blockchain/transaction record is hidden, then groups of pool owners of large pools could potentially collude to double spend, and if there is no transaction record, then this will not be detectable. Other such scenarios exist as well - remember that the blockchain is a public ledger designed to prevent or record fraud. Hiding this exposes the coin to serious risks.

People are too paranoid and those who implement it probably want to ride the hype. I'm actually glad some coins such as Bitcoin, Litecoin, Doge and Quark stayed out of this.

I agree, owning a business myself my concerns are

who is the developer and community behind the coin
how secure is the network
does it work and is it proven
does it provide opportunities for other types of capital investment e.g. shares

as I understand all this is provided by bitcoin and can be done on the bitcoin blockchain and are already in development

any other fancy features can be applied to bitcoin and the blockchain and are only for a marginal market not the mainstream

an example of another type of coin that would work is a decentralised google coin with a feature that would assist business with marketing opportunities and again it would have to be decentralised. This would have a great ongoing development team behind it who you know.

as for the community seeing other coins being attacked by other coin community's gives an impression of fraudulent activity even if what they are doing is exposing another coins fraudulent activity

an example is the current attacks against litecoin (it is a good coin, regardless of what they say it works and the network is secure)

this in itself is not a defining reason to dismiss a coin and its developers but it does bring into question the validity of the coin being a pump and dump (easy for a dev to make another account and attack another coins devs and community)

a recent example and tell me if I am wrong, darkota's attack on the other coins community and his support for Monero

I feel sorry for Monero as it does look good but am reluctant to support the coin as of yet due to the actions of this member and his support for the coin

it is good to expose fraudulent activity with proof but to harass, call people names and personally attack the dev and its community is wrong

yes i know the bitcoin community and litecoin community have done this as well but they are now proven coins and networks

once a coin gets above this type of behaviour and is proven it negates the reason for dismissing a coin

Perhaps coins backed by well-known investors, like Nautiluscoin?
A goldman-sach-coin could very well popup in the next few months

These would give a sense of security to investors, even if it costs them the trustless nature of cryptocurrencies and their decentralization.

I think it is a fad but it could be useful for some people. So maybe a couple of coins have an anonymous feature  as a way to succeed. Country coins and meme coins never serve any real purpose.

yes

I believe it's a fad.

The most important part of a currency is its community how it is actually used for commerce, and not some fancy feature.
Plus, there's the Dark Wallet in developpement for Bitcoin. When this will be released, it would make way more sense to use this and then use your Bitcoins in one of the hundreds of shops who accept it rather than convert them to a new an unstable currency like Darkcoin which has virtually no merchant acceptance.

Fad.

Wondering what the next fad will be..

Sorry but MastCoin has nothing to do with MasterCoin

Yes and no.

It is a bit fad-like but unlike country and animal coins, anonymous coins introduce a new feature to the market that is in demand. Animal coins faded away when the hype surrounding them died and every single country coin launched has turned out to be a major disappointment. But I think that there would always be the case for an anonymous cryptocurrency, although they will probably only appeal to a small niche once the current hype/craze/fad subsides.

It's a temporary FAD.
Maybe some will survive and be used in some kind of black market.
No way a totally anonymous coin will become accepted and legalized.

funny the more scammy it is the more it gets mentioned which helps with the pumps.

Most probably yes.

Bitcoin won't implement anonymity because:

Apart from the possibility of regulatory issues, if the blockchain/transaction record is hidden, then groups of pool owners of large pools could potentially collude to double spend, and if there is no transaction record, then this will not be detectable. Other such scenarios exist as well - remember that the blockchain is a public ledger designed to prevent or record fraud. Hiding this exposes the coin to serious risks.

People are too paranoid and those who implement it probably want to ride the hype. I'm actually glad some coins such as Bitcoin, Litecoin. Doge and Quark stayed out of this.

So you're saying if Bitcoin implemented anonymity tomorrow all the retailers who are accepting it now would stop accepting it?

lol

MasterCoin could be considered part of the 2nd gen epidemic - Ripples, Nxt, eMunie, XCP and etc.. which occurred more slowly then the following of Doge's epidemic.

2nd gen coins are typically coins that have been built from scratch, Recently we sought to Incorporate ByteCoin BCN in this category, but not Monero.

On Coins Source, we don't consider clones of 2nd gen currencies.. 2nd gen.

MastCoin - Rose to top 10 of all market capitalization - buy/sell without exchange and from wallet epidemic

Non-anonymous coins may be useful in some aspects, but people concerned with privacy will not use them in day to day transactions. Bitcoin is a privacy nightmare. I wouldn't use it for anything except as a store of value. If there are a significant number of people who want to use an anonymous currency, retailers will accept it.

Anonymity is one of the most important features that a cryptocurrency can have. It's not a fad anymore than fast transactions are a fad. Many currencies claim anonymity, which in a way makes it seem like a fad, but the few that get it right will have real value.

Anonymity is a niche, and I believe at least one anonymous coin will survive and be a black horse alternative to bitcoin, but what we're seeing right now is a fad yes.

I've hedged my bets on anoncoin comming out on top for over a year now, if ANC succeeds in getting zerocoin implemented I believe the rest will be left dead in it's wake.