Why so many - page 2. | Bitcointalksearch.org

honky1492

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Quote from: TheTribesman on November 24, 2013, 08:15:55 AM

I've been reading a lot about cryptocurrencies recently (and researching them). I was wondering why there are so many? Do they all have individual uses? Are they all geographic in nature? There seems to be more than is required for a cybereconomy.
Huh

There are so many alternative cryptocurrencies because it is easy to create new one from open source.
The only useable is Bitcoin, with possibility of Namecoin in future. Other coins including Litecoin are just huge speculative bet on Bitcoin success and take some small share out of Bitcoin success

RodeoX

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The revolution will be monetized!

90-99% of alt-coins are worthless. Anyone can create one. Most were created by people experimenting and playing with the bitcoin code. Kinda neat, but not going anywhere.

TheTribesman

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Kobocoin - Mobile Money for Africa

Quote from: andreja1982 on November 26, 2013, 09:30:56 AM

What about 3rd place? Primecoin, Anoncoin, Feathercoin?

3rd place appears to be up for grabs. I've heard good and bad things about each of those mentioned. I think BTC/LTC is too far ahead to lose at this point in time.

At the moment Peercoin appears to have a slight lead over the others IMO (due to market cap of 10x the next competitor - Namecoin - http://en.wikipedia.org/wiki/List_of_cryptocurrencies).

I must admit that Anoncoin seems interesting and could be a dark horse if it's claims hold up in the long term (it could end up being a subversive black market currency). Using the anonymous icon for marketing is a bit much though, and it could find itself under attack for that!

If too many survive then we could end up with a FOREX type scramble based on pure speculation creating a massive bubble followed by an almighty crash where only 2-3 survivors emerge unscathed.

But anyways, even this post is just pure speculation!

Exciting times indeed!

niothor

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in defi we trust

Quote from: andreja1982 on November 26, 2013, 09:30:56 AM

What about 3rd place? Primecoin, Anoncoin, Feathercoin?

That would be namecoin.
One of the few to actually have something different about it than other copycats.

andreja1982

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What about 3rd place? Primecoin, Anoncoin, Feathercoin?

issaxde

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Which currencies will prevail depends on which alt currencies are abled to attract a big enough user base. The value and stability of currencies is defined by the amount of people accepting it as payment. Bitcoin therefore definitely has a big advantage towards the other digital currencies.

Vezalke

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My opinion is there will be couple of currencies (3, 4 or 5 max), others will die eventually. So 1st is Bitcoin, 2nd is Litecoin, other places are less known...time will show.

rammy2k2

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Quote from: TheTribesman on November 24, 2013, 08:15:55 AM

First post. Looking forward to the new digital economy!

I've been reading a lot about cryptocurrencies recently (and researching them). I was wondering why there are so many? Do they all have individual uses? Are they all geographic in nature? There seems to be more than is required for a cybereconomy.
Huh

its like USD / EUR / GBP Tongue

Creative83

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Quote from: Alice_C on November 26, 2013, 03:59:20 AM

What characteristics should the alt coin have to be widely accepted and successful (or at least number 3 after bitcoin and litecoin)?

If you have any ideas, please, share them here: https://bitcointalksearch.org/topic/m.3709017

I'm doing my master thesis resaerch on this theme, so I will be very thankful for your opinions and help.

This list will be a real long one I think, But I also would like to know which altcoins could be the next right after BTC and LTC.

niothor

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in defi we trust

Clones always pop-up when something gets to the public.
Ebay copycats , Facebook copycats.
Also creating a crypto is quite easy and many think they are going to be rich with it by pre-mining it.

N4D3B337Z

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Quote from: bitcoinlovesme on November 26, 2013, 03:13:54 AM

Its just competition, everyone wants to be in. But some are genuine improvement. And havn't you heard competition is good!!

I whole-heartedly agree w/ you on that. Competition is great.
However I have an inkling that maybe one of the "Copycat Coins" or "CloneCoin" will make a substantial improvement to the Crypto currency infrastructure and render BTC "semi" obsolete but not completely. like DSL did 56k or cable did DSL. Maybe Altcoins will further enhance the anonymity aspects of Cryptocurrency as a whole being that most if not all of them have some sort of an exchange that lets you convert coin to other coin formats and fiats. This essentially extends bitcoin functionality, thus rendering competition as GREAT.

Alice_C

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What characteristics should the alt coin have to be widely accepted and successful (or at least number 3 after bitcoin and litecoin)?

If you have any ideas, please, share them here: https://bitcointalksearch.org/topic/m.3709017

I'm doing my master thesis resaerch on this theme, so I will be very thankful for your opinions and help.

Creative83

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I agree with statement, It's always good to have many choices, for now I think BTC and LTC are the most solid ones and also I think there are many good altcoins around, just days will prove which one will be able to survive.

bitcoinlovesme

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Its just competition, everyone wants to be in. But some are genuine improvement. And havn't you heard competition is good!!

DeathAndTaxes

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Gerald Davis

Quote from: Morbo on November 26, 2013, 02:25:30 AM

Quote from: SSL1978 on November 26, 2013, 02:23:21 AM

99% of alt-coins are created because some guys had a great dream of getting rich and becoming billionaires (just like Satoshi).

how much bitcoin was already mined when Satoshi released the bitcoin client to the public?

0 (well technically the 50 BTC in the genesis block but due to a client bug they are unspendable)

Creative83

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I don't see having many alt coins as a negative things, or?

sharpiedeluxe

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I like PPC as my favorite altcoin.

Morbo

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Quote from: SSL1978 on November 26, 2013, 02:23:21 AM

99% of alt-coins are created because some guys had a great dream of getting rich and becoming billionaires (just like Satoshi).

how much bitcoin was already mined when Satoshi released the bitcoin client to the public?

SSL1978

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Quote from: TheTribesman on November 24, 2013, 08:15:55 AM

First post. Looking forward to the new digital economy!

I've been reading a lot about cryptocurrencies recently (and researching them). I was wondering why there are so many? Do they all have individual uses? Are they all geographic in nature? There seems to be more than is required for a cybereconomy.
Huh

A number of alt-coins (such as LTC, NMC) are created because some developers wanted to add more feature to the world of cryptocurrency.
99% of alt-coins are created because some guys had a great dream of getting rich and becoming billionaires (just like Satoshi).

TheTribesman

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Kobocoin - Mobile Money for Africa

Personally I think 2 is enough. A main currency (possibly BTC) and a tracker (possibly LTC) to keep it honest.

It could even be the other way round, where LTC is the main currency, and BTC (though first to emerge) is the tracker keeping LTC honest. LTC seems to be more suited for use as a digital currency (from what I've read). BTC seems more speculative than LTC.

I think that if there are too many that survive then all we've done is transferred the old banking systems (where every country has it's own currency that can fluctuate against the others) into the digital realm.

And what would be the point of that??

Topic: Why so many - page 2. (Read 1999 times)