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Title: What exactly makes a 'good' Altcoin? Post by: MrThePlague on March 16, 2014, 08:52:41 AM People want to see innovative new coins, and not the same old rehashed ones. But what exactly (In Your Opinion) makes an Altcoin 'good or 'innovative'? I'm not too knowledged in the 'behind the scenes' of how Crypto Coins work, the only difference I see (granted it is with my untrained eye) between coin 1,293 and coin 1,294 are slight differences in the 'main' features (Premine, Block Size, Block Retarget, Coin Cap... etc).
Not being too in the know, I just never see anything of a major difference, yet some pretty respected members will voice their opinion and coin 1,293 for example will get a "yawn, just another pump and dump coin.." while 1,294 (with maybe a tweak here or there in the main features I mentioned) get a "Awesome! Very innovating! I cannot wait for this coin to release!" comment. What am I missing? Appreciate the time and responses in advance! Title: Re: What exactly makes a 'good' Altcoin? Post by: jambola2 on March 16, 2014, 11:28:10 AM I have a thread on a similar topic (https://bitcointalk.org/index.php?topic=515359.0) and here is a snippet on why I think some coins are good due to being innovative.
Notable Alt-Coins:- Faster coins: I'm not sure if they are an advantage or a disadvantage. This thread (https://bitcointalk.org/index.php?topic=515390) discusses it. Some disadvantages are more orphans and hence more energy usage , more inflation etc. The obvious advantage is the faster transactions. Litecoin : A stable coin with faster transactions and the one that started the trend of Scrypt. Primecoin : One of the original coins that started the process of not wasting resources just for the sake of maintenance of the coin and allows usage of energy for other processes. Gridcoin seems to be based on the same idea as Primecoin , but is newer and does not seem stable and more like a pump-n-dump Darkcoin and Anoncoin : These try to enhance privacy in different ways. Darkcoin with easier and more integrated coin mixing and Anoncoin attempting to prevent correlation of an address to a real identity to a further level. Post your coin and I will add it if it seems innovative. This thread aims to be a resource to showcase the better and more innovative coins over the pump-n-dumps. Title: Re: What exactly makes a 'good' Altcoin? Post by: reRaise on March 16, 2014, 11:35:24 AM I have a thread on a similar topic (https://bitcointalk.org/index.php?topic=515359.0) and here is a snippet on why I think some coins are good due to being innovative. Notable Alt-Coins:- Faster coins: I'm not sure if they are an advantage or a disadvantage. This thread (https://bitcointalk.org/index.php?topic=515390) discusses it. Some disadvantages are more orphans and hence more energy usage , more inflation etc. The obvious advantage is the faster transactions. Litecoin : A stable coin with faster transactions and the one that started the trend of Scrypt. Primecoin : One of the original coins that started the process of not wasting resources just for the sake of maintenance of the coin and allows usage of energy for other processes. Gridcoin seems to be based on the same idea as Primecoin , but is newer and does not seem stable and more like a pump-n-dump Darkcoin and Anoncoin : These try to enhance privacy in different ways. Darkcoin with easier and more integrated coin mixing and Anoncoin attempting to prevent correlation of an address to a real identity to a further level. Post your coin and I will add it if it seems innovative. This thread aims to be a resource to showcase the better and more innovative coins over the pump-n-dumps. Why dark? I don't see it's anonymity feature as an advantage, it will get to deal with regulators and for the rest it's just a quark clone and less secure too. Title: Re: What exactly makes a 'good' Altcoin? Post by: wallstreetcoiner on March 16, 2014, 01:12:20 PM People want to see innovative new coins, and not the same old rehashed ones. But what exactly (In Your Opinion) makes an Altcoin 'good or 'innovative'? I'm not too knowledged in the 'behind the scenes' of how Crypto Coins work, the only difference I see (granted it is with my untrained eye) between coin 1,293 and coin 1,294 are slight differences in the 'main' features (Premine, Block Size, Block Retarget, Coin Cap... etc). Not being too in the know, I just never see anything of a major difference, yet some pretty respected members will voice their opinion and coin 1,293 for example will get a "yawn, just another pump and dump coin.." while 1,294 (with maybe a tweak here or there in the main features I mentioned) get a "Awesome! Very innovating! I cannot wait for this coin to release!" comment. What am I missing? Appreciate the time and responses in advance! Consumers are not sensitive to the technical workings of a coin. When it comes to money, they simply want something reliable, decentralized, easy to use, and widely accepted. In our view, bitcoin, goldcoin, and litecoin, will probably end up being the top three digital currencies. Bitcoin and litecoin due to their head start in market penetration and goldcoin because of its superior name that tests #1 with consumers. Title: Re: What exactly makes a 'good' Altcoin? Post by: tokyoghetto on March 16, 2014, 01:15:48 PM People want to see innovative new coins, and not the same old rehashed ones. But what exactly (In Your Opinion) makes an Altcoin 'good or 'innovative'? I'm not too knowledged in the 'behind the scenes' of how Crypto Coins work, the only difference I see (granted it is with my untrained eye) between coin 1,293 and coin 1,294 are slight differences in the 'main' features (Premine, Block Size, Block Retarget, Coin Cap... etc). Not being too in the know, I just never see anything of a major difference, yet some pretty respected members will voice their opinion and coin 1,293 for example will get a "yawn, just another pump and dump coin.." while 1,294 (with maybe a tweak here or there in the main features I mentioned) get a "Awesome! Very innovating! I cannot wait for this coin to release!" comment. What am I missing? Appreciate the time and responses in advance! Consumers are not sensitive to the technical workings of a coin. When it comes to money, they simply want something reliable, decentralized, easy to use, and widely accepted. In our view, bitcoin, goldcoin, and litecoin, will probably end up being the top three digital currencies. Bitcoin and litecoin due to their head start in market penetration and goldcoin because of its superior name that tests #1 with consumers. Subliminal pumping of goldcoin. I see what you did there. Title: Re: What exactly makes a 'good' Altcoin? Post by: bl0ckchain on March 16, 2014, 01:37:54 PM Consumers are not sensitive to the technical workings of a coin. When it comes to money, they simply want something reliable, decentralized, easy to use, and widely accepted. In our view, bitcoin, goldcoin, and litecoin, will probably end up being the top three digital currencies. Bitcoin and litecoin due to their head start in market penetration and goldcoin because of its superior name that tests #1 with consumers. +1 :) Title: Re: What exactly makes a 'good' Altcoin? Post by: jambola2 on March 18, 2014, 06:29:10 PM I have a thread on a similar topic (https://bitcointalk.org/index.php?topic=515359.0) and here is a snippet on why I think some coins are good due to being innovative. Notable Alt-Coins:- Faster coins: I'm not sure if they are an advantage or a disadvantage. This thread (https://bitcointalk.org/index.php?topic=515390) discusses it. Some disadvantages are more orphans and hence more energy usage , more inflation etc. The obvious advantage is the faster transactions. Litecoin : A stable coin with faster transactions and the one that started the trend of Scrypt. Primecoin : One of the original coins that started the process of not wasting resources just for the sake of maintenance of the coin and allows usage of energy for other processes. Gridcoin seems to be based on the same idea as Primecoin , but is newer and does not seem stable and more like a pump-n-dump Darkcoin and Anoncoin : These try to enhance privacy in different ways. Darkcoin with easier and more integrated coin mixing and Anoncoin attempting to prevent correlation of an address to a real identity to a further level. Post your coin and I will add it if it seems innovative. This thread aims to be a resource to showcase the better and more innovative coins over the pump-n-dumps. Why dark? I don't see it's anonymity feature as an advantage, it will get to deal with regulators and for the rest it's just a quark clone and less secure too. It is basically an alt-coin which has the idea of mixing coins built into the system. I feel that that is a great idea :P Title: Re: What exactly makes a 'good' Altcoin? Post by: jonnysomething on March 18, 2014, 06:31:37 PM People want to see innovative new coins, and not the same old rehashed ones. But what exactly (In Your Opinion) makes an Altcoin 'good or 'innovative'? I'm not too knowledged in the 'behind the scenes' of how Crypto Coins work, the only difference I see (granted it is with my untrained eye) between coin 1,293 and coin 1,294 are slight differences in the 'main' features (Premine, Block Size, Block Retarget, Coin Cap... etc). Not being too in the know, I just never see anything of a major difference, yet some pretty respected members will voice their opinion and coin 1,293 for example will get a "yawn, just another pump and dump coin.." while 1,294 (with maybe a tweak here or there in the main features I mentioned) get a "Awesome! Very innovating! I cannot wait for this coin to release!" comment. What am I missing? Appreciate the time and responses in advance! Consumers are not sensitive to the technical workings of a coin. When it comes to money, they simply want something reliable, decentralized, easy to use, and widely accepted. In our view, bitcoin, goldcoin, and litecoin, will probably end up being the top three digital currencies. Bitcoin and litecoin due to their head start in market penetration and goldcoin because of its superior name that tests #1 with consumers. Subliminal pumping of goldcoin. I see what you did there. I don't disagree with him. Coins need to have a purpose and a marketable name. Most only have the latter.\ GoldCoin is a name I liked, it could stand a chance. I believe more in something like GlobalCoin because it could be considered a worldwide currency pretty easily.` Title: Re: What exactly makes a 'good' Altcoin? Post by: activecoin on March 18, 2014, 07:35:29 PM All the same users making the comments, after spending a year on the forum they follow users they know around IMO, usually they do not oppose each other on if a coin is good or not.
Title: Re: What exactly makes a 'good' Altcoin? Post by: FreedomCoin on March 18, 2014, 08:09:28 PM People want to see innovative new coins, and not the same old rehashed ones. But what exactly (In Your Opinion) makes an Altcoin 'good or 'innovative'? I'm not too knowledged in the 'behind the scenes' of how Crypto Coins work, the only difference I see (granted it is with my untrained eye) between coin 1,293 and coin 1,294 are slight differences in the 'main' features (Premine, Block Size, Block Retarget, Coin Cap... etc). Not being too in the know, I just never see anything of a major difference, yet some pretty respected members will voice their opinion and coin 1,293 for example will get a "yawn, just another pump and dump coin.." while 1,294 (with maybe a tweak here or there in the main features I mentioned) get a "Awesome! Very innovating! I cannot wait for this coin to release!" comment. What am I missing? Appreciate the time and responses in advance! Consumers are not sensitive to the technical workings of a coin. When it comes to money, they simply want something reliable, decentralized, easy to use, and widely accepted. In our view, bitcoin, goldcoin, and litecoin, will probably end up being the top three digital currencies. Bitcoin and litecoin due to their head start in market penetration and goldcoin because of its superior name that tests #1 with consumers. Subliminal pumping of goldcoin. I see what you did there. Just look at their sigs, both people that are pushing goldcoins are bagholders of GLD. As said before, fast confirm times, strong hash rate, and coins that are more immune to multipools such as n-scrypt and using the gravity well. Title: Re: What exactly makes a 'good' Altcoin? Post by: stevegreer on March 18, 2014, 08:19:03 PM A strong community of supporters and an active development team are good indicators as well. A sense of purpose, other than pump and dump, get rich quick scams is also a good thing to have for an Altcoin. Yes, I am shamelessly plugging for Zeitcoin. But it's because it has what I listed, and I believe in it's long-term potential.
Title: Re: What exactly makes a 'good' Altcoin? Post by: foodies123 on March 18, 2014, 08:22:29 PM short term - hype and name
long term - inovation (see https://bitcointalk.org/index.php?topic=483515) won't boast it here so as not to be accused of coin hyping, just read if you're question is legitimate. Title: Re: What exactly makes a 'good' Altcoin? Post by: maranello1561 on March 18, 2014, 08:31:51 PM Altcoins are dying left and right ... in case you didn't notice already
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