Topic: Which Internet Currency will Prevail in the Years to Come? (Read 4214 times)

ASICs? A sick what?   j/k

Most people view LTC's ability staying out of ASIC arm race as a positive factor, not disadvantage.

I think LTC is a good contender for second space, just by hearing the perspectiv of others. The other could be ripple, but to be honest I am not so sure about the centralised control where a company hands out the initial coins and gets a lead on everyone else until they open the source. Maybe someone can educate me, but it seems against the spirit of what crypto currency is and should be about.

I think you will see a whole big range of 'meme-coins' develop, as JesusCoin, LibertyCoin, Americoin, AfroCoin, EnviroCoin, things like those, get produced and minted... people will tend to want to deal with their own kind... and then there will be metacurriencies:  Bundles of currencies to suit each individual.

At any rate, it is impossible that BTC will be successful and others not, though I would bet that BTC holds the lead.  But there will be a whole 'ecology' of coinage out there... each coin with its own niche.

My only guess is Ripple. If they make it more user-friendly it can (and will  ) be "Apple" of the crypto's
That doesnt mean that BTC or any other coin will be trash.

There is BTC, LTC, and then everything else far behind. Ripple is like worse than fiat currency.

I don't think there will just be one, since each currency addresses slightly different needs.

Bitcoin has far more name recognition and a lot more money behind it. That counts for a lot, and I don't think we'll see it go away anytime soon.

I like PPCoin a lot for its PoS system, though I admit I only found out about it today and haven't gotten a chance to delve into the technical details yet. But if it works the way it's supposed to, then it's a very novel, efficient approach that could result in a much more robust, scalable network than any of the other currencies enjoy. However, it looks like the developer hasn't done a very good job of getting other people on board, which puts it at risk. I also hate the name. It's hard enough asking people if they accept bitcoin. No way in hell am I ever saying, "Do you accept pee-pee coin?"

Seriously, I think I'd readily switch to a PPCoin knock-off if it meant I didn't have to use something called PPCoin. Call it PeerCoin, maybe, but PPCoin? Good god.

Anyway...

LiteCoin seems to be a crowd favorite, what with the faster deployment and faster transactions. I'm not particularly excited by it, but I keep seeing it called "the silver to Bitcoin's gold." That's pretty strong psychological ground to take. It'll probably be around for a while.

NameCoin will probably be around for a while too. It can be merge-mined, and it's the only decentralized DNS system I've seen. I'm pretty happy about that, and I really want to see it do well because of it. Of course, I do tend to think of it more as a DNS system than as a currency. I don't know if we'll ever see it used primarily as a currency, which is fine. That's not the problem it's trying to solve anyway.

[EDIT]
Derp. Reading more about NovaCoin. Am no longer 100% certain it's a scam. PPCoin without the PP...?

Ripple isn't even open source.

Ripple is based on central trust. It will fail eventually. Centralized supply creation...so fail.

I also like namecoin and devcoin. I do not know much about novacoin, but I think BTC and LTC are the ways to go. Also I need to learn more about ripple, I still do not quite understand it.

My two picks: BTC/LTC

Everything else is borderline pump & dump or dead/dying.

My four picks:

• Bitcoin
• Litecoin
• PPCoin
• Terracoin

Bitcoin, because it's stood the test of time and has too much money involved to easily die off. Litecoin, because it has a faster transaction time than Bitcoin and has a different encryption method, therefore suited to more day-to-day small transactions that occur more frequently than Bitcoin, and mining is more accessible to the average punter. PPcoin will pick up from those who are conscious about their energy use, and might be seen as a greener alternative to the first two in terms of reducing mining impact on greenhouse gas emissions, along with the proof-of-stake confirmation in conjunction with the established proof-of-work confirmation method. And Terracoin due to the faster difficulty adjustment for mining, and fast transaction time similar to Litecoin.

Have you heard about ASICs? They take about 1-2% of the power per MH/s of a GPU for mining Bitcoin.

really? how much more?

My gpus are maxed out no matter I mine btc or ltc anyway, makes no difference to me.

most likely? one yet to be invented that applies well the lessons learned from bitcoin and others (or maybe just makes a different set of design trade-offs/decisions)

but we might also have a situation similar to the bullion market where gold, silver and platinum group metals (mainly platinum and palladium) all have their own characteristics and complement each other nicely. We could end up with a bunch of different successful cryptocurrencies. IMO that situation where we have multiple (not just 1 or 2) viable cryptocurrencies that complement each other would be the best possible outcome.

Hell no. bitcoin is nowhere near being even remotely close to adequate enough to replace the global monetary system (and yes i know that could hardly be more broken). NONE of the cryptocurrencies are. And this comes from someone who was around before the times of the gox hack, the bitcoinica "hack", etc. i'm not anti-bitcoin. i was not really an early adopter of bitcoin but i've been active with bitcoin for a longer time. People seem to think of bitcoin as this already established thing....it's not. bitcoin is still heavily experimental, and i would never invest anything i could not afford to lose in any of the *coins, let alone the entire global monetary system ("noes, the blockchain has just forked *mass global panic/violence/turmoil/riots/disorder/meltdown ensues, the few remnant scant survivors of humanity get to tell the story*") <---this is pretty much how i imagine it would go down.

Litecoin requires too much energy per MH/s. Fewer miners will support the network. That makes it less secure.
Ripple may be decentralized in theory, but it is information based. That makes it centralized.
Bitcoin isn't perfect, but it's still in beta. Much has been developed to improve its performance. Bitcoin is more than adequate to replace the global monetary system.

Ripple is the Joker in the game. Potentially much more useful than *coins
but right now ripple is vulnerable in terms of regulatory risk and,
really, we don't know much about it, how does it scale, how does it
in practice deal with sybil attacks, ddos attempts, modded clients etc.

Litecoin already has pretty steep fees considering its current valuation. But honestly I like high fees. (Not paying them)
But I am willing to pay them if it keeps the network stable as intended. Rising fees would have a dampening effect on volatility and would act of quasi demurrage scheme if the transaction space is scarce enough.

I really doubt there will be only one mainstream cryptocurrency. Even if Bitcoin was flawless, which it's not, in almost every economic market you have competition. To people who think there's no need for something like Litecoin, what's the point in silver when we already have gold?

I honestly think out of all the alt currencies PPCoin has the most potential. Bitcoins transaction fees are only going to increase over time as more people use it... it's a problem which is ticking time bomb. PPCoin won't suffer that fate. People are pumping up and pumping up Bitcoin and when it finally becomes mainstream they are all going to look at each other and go 'damn, this new coin has transaction fees the same size as paypal'. They will look for an alternative and see PPCoin which by then should already be prospering somewhat. In fact, this should happen even before Bitcoins become truly massive, people will start looking towards the future and see what I am seeing. PPCoin has other unique benefits too but I'll leave that to another post.

That's looking longterm.

For the medium term I see Litecoin doing very well. It's gained just enough traction at the right time to be dragged up by the coat tails of Bitcoin's success.

I believe it is going to be a combination of alt currencies. Not one is going to dominate. This is a good thing in my opinion.

The more alts succeed the more Ripple will succeed, as a convenient way to exchange among them all...

-MarkM-