Guys guys guys! Please stop using them coins as trade commodities.
Speaking theoretically, Let me list why certain famous coins are not sustainable or needed or flawed.
+ Novacoin is simply a mix of ltc and ppc. It was premined and that was such a disadvantage that btc-e destroyed the nvc it got as donation when nvc was launched. NVC's demand exceeded that of LTC after 1 week of its launch, while LTC was an year old. Somebody was pumping really hard on btc-e. Scam all over.
+ Terracoin is simply a copy of BTC. It had flaws when it started which were later corrected though. Since it offers no advantage over btc it is useless in my opinion. Infact, if they allow merged mining you will see that mining for TRC will stop all together. If you are going for BTC copies guys why not create your own? afterall, BTC is open source.
+ Freicoin is joke with 80% going to the foundation for first 3 years.
The only usefull currencies are :
+ LTC , it is faster. If you look closely it requires local memory. GPUs have high local memory so now people are mining LTC with GPUs. Infact this fast memory requirement is why it is called ASIC and FPGA proof. It is not actually ASIC/FPGA proof but building fast memory into them is expensive and not worth it. Also it will give very less advantage so wont likely be implemented soon.
+ PPC is actually a technological improvement. Reading the paper, you see that proof-of-work is replaced by proof-of-stake, except for initial minting. This makes it both energy efficient and more resistant to 51% attack. The current problem is that is not decentralized due to 'central checkpointing' but this is going to be faded away slowly. Once it is fully decentralized, it should be a true competitor to btc. theoretically.
+ Namecoins is most useful of coins practically. Essentially it binds a key-value pair into the coins. This property can be used to develop various exciting systems such as p2p DNS system that cannot be banned!, alias for a user, building a 'WebOfTrust', broadcasting messages, tracker for torrents etc. It is really silly why any would even sell their namecoins! You can confirm their silliness by asking them if they know about '.bit' domains, then watch there clueless faces, laugh internally and grab their namecoins. Say Thank you.
But but but, I could be wrong in saying this , but there simply not enough volume in India for PPC,NMC or even LTC. Hell, at the time of writing I have not been able to purchase even BTC at the prevelant rates for past 1 month!!! If anything is to be included in the exchange, I highly recommend analysing the volume of it first.
+2
Good summary of current alt coins.
