Bitcoin Forum

There are SO MANY altcoins being created right now, it's amazing. It's almost as if we need a website to create a new coin!
Seriously though, there isn't really much point in making Litecoin forks just to get the happy warm and fuzzy of seeing 50 WhateverCoins in your wallet. Go to skude.se/BTC, the Coin Love Chest or some other free bitcoin site and maybe you'll actually earn something instead of getting worthless amounts of your new altcoin. And if that doesn't please you? Change the bitcoin source code to show BTC in mBTC and change "BTC" to "Whiskcoin" or whatever. Now you can get that warm 'n' fuzzy and still have something of value, without tiring out your poor processor. :)

(Side note: If you haven't already, post your bitcoin address in your signature, maybe you'll get something from a kind forum member!)

I think its good to have multiple altcoins. By implementing those at least there is an increasing amount of users who understand the network internals and promote an algorithm versus the others.

For novice users it's hard to choose, but its the same everywhere else selecting the brands of juice you wanna drink, chips you wanna eat and so on.

Diversity helps!

then we should create USDollar v2.0 , unclesamDollar. etc

What we need are opensource services like

exchanges
casinos
shopping carts
etc.

that can be plug and play with any new currency

Some imagination _is_ required, at least in selecting the names. hdclover, you can start with Monopoly money tho'.

The whole world is going towards asking "which degree you hold?" instead of "do you have a degree?".
That does not make a degree less useful, it only increases the number of options available.

What makes a currency better than the others is in the end its purchasing power (http://en.wikipedia.org/wiki/Purchasing_power) not the extinction vortex (http://en.wikipedia.org/wiki/Extinction_vortex) being modeled for it.

CNC: ChuckNorrisCoin

Is not very wrong, i think in the moment, the first banks where the same and later only a few survive

In my own humble opinion, the only valid reason to start a new CryptoCurrency is when you are really starting something new.

Of all the alternative cryptocurrencies there are this far, only a few manage to have some originality. Litecoin of course because of its different hashing algorythm which turned out now to be a good way to keep 'hashing machines' like ASICs away, and PPcoin, with it's Proof-of-Stake implementation which might prove to be a way to run a network without using computing power to support it.

And then of course there is Ripple, which isn't based on the original Bitcoin source at all.


Each 'new' cryptocoin that is made will shift some of the computing power away from Bitcoin, and thus making the network less safe. The 'diversity means stability' argument is nonsense since these coins never have enough backing computing power to make the coin actually become stable.

So either create a new coin that actually is something really original or don't do it at all.

my two cents.

~W-M

As time goes on, it will show what currencies will be successful and what ones will not. I believe only BTC and LTC will survive.

Just dont buy with bitcoins any coin with nothing new.

I think what you really mean is stop making scamcoins..
There is an intrinsic value to creating altcoins and that is... wait for it... to ACTUALLY IMPROVE the coin!

Why LTC? Coz its faster? In that case some new coin which is significantly faster may well usurp it.

Because it's the one with the biggest userbase after BTC, and it also complements it having different features...  ::)

No, I think because litecoin gets the support of many community members and those gpu miners need to mine something which litecoin makes possible thanks to its scrypt hashing. It's a pretty safe bet to say that litecoin will stay. Most people see it as the silver cryptocurrency, I don't really see it going away in the future either.

PPC also makes a good chance to survive with its proof of stake, they only should change the name tho, PPC may have a good developer behind it, he surely isn't a marketing guru.  :P

All others seem to me like gamble coins, people know they will become worthless because they actually don't have many differences with btc, ltc or ppc, they only buy them in the hopes they go up and can sell them before they collapse again. And this greed is also the reason they get made, it doesn't really bother me. Maybe one of those actually gives someone a great idea that could become Bitcoin 2.0.

I only would appreciate if bitcointalk divides the alt section a little bit more and gives the major ones a separate section, I like to follow the ltc and ppc topics but I really don't care much about the other ones besides the initial topic to see if it actually brings something new.

I've been suggesting niche specific altcoins for quite some time.

You could have an altcoin designed to verify someone's identity via gpg or some other avenue, like a human namecoin.

You could have an altcoin that is used to validate other electronic communication mediums, like spamcoin.

I'm all for more altcoins, just not the lazy 'get rick quick' ones where someone changes a few variables and releases it. They serve no purpose.

Niche industries will be the key for altcoins in the future.

I'll happily mine CNC so long as when i find a block the code says

Fist punch from beard successful!

Yes BTC is so SLLLOOOWWW and another drawback to it being used as a currency.  It takes an hour or two to confirm sometimes and that is just way too long.  It needs to be near instantaneous like visa and mc are.

It's not just that Litecoin has faster confirmations, which is nice, but the real advantage is that it's not as vulnerable to ASICs at the moment.  Right now Bitcoin is pretty much pointless to mine on a normal computer, Litecoin with a decent video card is still very competitive.

Don't underestimate the power of the warm, fuzzy feeling. Joined the party late (my own fault) and have single digit LTc & BTC. Having 50+ Feather Coins have given me new hope :)

@skull88 - I think everybody is worried about missing BitCoin 2.0 - I certainly don't want to be the guy who spent a ton buying shares for MySpace while ignoring the new kid on the block.

Of course, it has to give significant advantages - considerably faster confirmations, for a start.

Feathercoin has very fast confirmations and a decent profitability selling/buying trough the forum. There was no premine and you dont need huge rigs to get some coins.
I can suggest these pools, prompt and precise payments : http://mine.altpool.com/ and http://fc.dontmine.me/index.

I'll get that done sometime this week.  You want it SHA256 or Scrypt based?  :-p

SHA256, he need all the trouble he can get

Going off topic; but how much faster? Someone replied its 4 times; but then confirmed its not. In anycase IMO; unless we have a coin which confirms in less than a minute, its not much of a difference (or maybe it is - I get excited when my PC boot up time reduced by 15s when switching to Windows 7)

And yeah, I have been using altpool with my trusty CPU. May cross the 60 coins barrier tomorrow  :)

Hrm.  This'll be a great time to test out a couple nightmarishly terrible ideas I had over the last couple weeks.  CNC, here we come.  It'll be a Weekend coin though, so don't get your hopes up.  :-p

I think the only victims of all these get-rich-quick-alt-coins are the idiots that are trading their BTC and LTC for crapcoins.