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Title: Whats the deal with all these Cryptocurrencies and Themed-Coins? Post by: Byteme on September 22, 2013, 11:02:55 PM I am extremely new to the bitcoin market and financial markets in general. So it should come as no surprise that I have no idea why SO MANY cryptocurrencies (LTC, FTC, BTC, NMC, NVC) exist. Is this comparable to how many FIATs exist? (USD/EUR)
Is anyone able to explain the concept of why so many exist and seems like every day I am learning about a new one. Just today I read about the Star Trek themed coins - DafuQ? Are these just a gimmick or an actual cryptocurrency trying to get it's start? Many thanks for your time and understanding as well as the answers/advice you are able to provide! Title: Re: Whats the deal with all these Cryptocurrencies and Themed-Coins? Post by: sublime5447 on September 22, 2013, 11:06:18 PM just BS except LTC maybe NVC for now
Title: Re: Whats the deal with all these Cryptocurrencies and Themed-Coins? Post by: hermann1983 on September 22, 2013, 11:16:16 PM Bitcoin is open source software, meaning everyone can use it and modify few lines to make his own alternative coin without much effort. Thats why so many different alternative coins are there.
Title: Re: Whats the deal with all these Cryptocurrencies and Themed-Coins? Post by: Foxpup on September 22, 2013, 11:23:10 PM The deal is very simple, really:
Step 1: Realise how "unfair" it is that early adopters of Bitcoin made more money than you. Step 2: Forget that Bitcoin's rise in value is due to the fact that it's an amazing innovation the likes of which the world has never seen, and create a clone of it that doesn't innovate in any way and everyone's seen a million times before. Step 3: Convince suckers to buy your clonecoin. Profit! Title: Re: Whats the deal with all these Cryptocurrencies and Themed-Coins? Post by: 01BTC10 on September 22, 2013, 11:44:46 PM The only interesting coin in my opinion:
NMC = Decentralised DNS system based on Bitcoin XPM = Proof-of-work based on prime number calculation LTC = Copy of Bitcoin with a different algorithm for proof-of-work, more total coin and shorter interval between blocks. PPC = Proof-of-work + proof-of-stake All they rest is mostly pre-mined pump and dump scheme copy of LTC. https://en.bitcoin.it/wiki/List_of_alternative_cryptocurrencies Title: Re: Whats the deal with all these Cryptocurrencies and Themed-Coins? Post by: Byteme on September 23, 2013, 12:15:26 AM Thanks very much for all the replies! Your very insightful posts are much appreciated! Thank you thank you!
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