Topic: What is the advantage of other cryptocurrencies? - page 2. (Read 2240 times)

D&T is entitled to his "dirt coin" outlook on things. Just don't know why he makes an effort to post here if he truly believes what he says.

That aside, the alt chains have given good insight into different ideas of block times and tested some interesting ideas.

Those religious bitcoin evangelists that think bitcoin should be the only cryptocurrency can think again.Tthat would be the equivalent of a 1 world currency.

One huge advantage that the alt-chains have over bitcoin is the amount of drama that isn't surrounding it as well as learning from the mistakes of hard-core bitcoin enthusiasts.

In my opinion, I see many of the same mistakes that were made over 1.5 years ago...still being made in the bitcoin community.

But hey we all make mistakes so who am I to judge.

Ultimately it's not what D&T or any other "elitist" bitcoiner says that matters. What does matter is what the FREE MARKET chooses as a medium of exchange. That is what is important.

Oh, I disagree with that. I don't think supporters of alt-coins are brain-sinks for bitcoin. Bitcoin at this point is largely becoming professionalized. You see this with the number of large players in the market and growing outside-of-the-community investment it is receiving. This argument might have still been accurate a year ago, but I don't think it's true now. Bitcoin is reaching critical mass  and it's largely now self propelling. What the alt-coin crowd is doing doesn't serve to hurt/hinder bitcoin in anyway.

The alt-coin community is more of a sandbox for newer cryptocommunity members. I would wager there is a large number of novice's here and that's quite fine.

The advantage of the alt-coins is that the rules are still not yet set in stone- nor is the pecking order of seniority. New ideas can flourish regardless of how crazy they may seem.

Do alt coins weaken Bitcoin? I would rephrase that and ask- does Iceland having it's own currency weaken the US Dollar? Wouldn't it be better if we just all used the Euro?

If your new here, welcome! By all means pick yourself up some bitcoin, but if you'd like to experiment and have fun and maybe build another currency from scratch, please enjoy yourself here in Alt-coins as well. I personally recommend checking out TRC- Its like "Baby Bitcoin". :-)

Except that the cryptocurrency microcosm at the moment is a finite relatively small number of people and generally when people choose an altchain they are doing it at the expense of supporting the bitcoin ecosystem (on whatever level you consider them "supporting" it).

They don't really "hurt" Bitcoin anymore than someone making dirt coins reduces the value of gold.

Of course! I was just curious about how other currencies may or not affect bitcoins.

There really isn't any advantage.  They all are of dubious value.

They don't really "hurt" Bitcoin anymore than someone making dirt coins reduces the value of gold.  You can't prevent others from producing alternatives so live and let live.

Hi,

I've still kind of new in this digital currency world. I just discovered Bitcoin and now I found many other cryptocurrencies.

My questions are....

      *. Is it worth it to mine in other currencies besides bitcoins?
      *. Wouldn't be better if we only use only 1 instead of 8?
      *. Does it (having other currencies) weaken bitcoins?

I do respect other currencies and their followers, it's just I don't understand this "new world" yet.  

May anybody tell me the advantage?

Thanks!!