Bitcoin Forum

Hey everyone, I am fairly new to this entire game. I have known about Bitcoins for the past couple years..i just recently dove deep into this world and now I  cant help but see the potential in Crypto Currency. I just wanted to share some of my outlooks on some Cryptos that I have a good feeling about and discuss some possibilities of what Crypto Currency may look like 10-20 years down the road....hey maybe even sooner? Here is a list of my top 4 in order of value.


1. MASTERCOIN:

Mastercoin enables holders of the coin to use the "master protocol". This protocol acts as a "layer" on top of the Bitcoin code itself. So it is NOT and ALT coin. This enables the holder to issue contracts, create company's with shares and create user generated tokens.  Mastercoin provides a set of features that only work with MSC or Mastercoin-based currencies, and there is a limited number of them. So, in order to enjoy these features, you have to own some mastercoins, giving them an independent value. The more real world usage Mastercoin sees, the higher the value of each mastercoin. In addition, as always, a lot of its value is currently driven by speculators executing a price discovery process.

Specifically, mastercoin tokens are used for:

Creating derived currencies and smart property are used to create and/or promote smart property tokens as an anti-spam measure.

Mastercoins will essentially act as "keys" for business's to create virtual shares and contracts that they can tie to things like companies or property.  There are a limited number of Mastercoins (600k) this is what will drive the price high. Mostly large company's will hold Mastercoins (fortune 500 level)


2. Bitcoin

The "gold" of crypto currency. Bitcoin has a fixed limit of 21 million coins. Therfore this will increase the value of the bitcoin. Bitcoins are currently the most widely traded and accepted crypto and i believe that in the future it will be viewed as a store of value.

3. Litecoin

The "silver" of crypto currency. Similar to Bitcoin with a fairly small fixed limit compared to other cyrptos. This is the second most established crypto around right now and i believe it is hear to stay. It is not going anywhere.

4.  Ripple 
I believe Ripple will change the world. Ripple is doing what everyone else is doing wrong, (coinbase, bitstamp ect).
They have the potential of being so much more and Ripple is capitalizing on it. Ripple’s market cap is overstated in many places. For example, when calculating the market cap of ripple, you can’t multiply the market price by 100 billion because not all of ripple in the world are actually on the market. In fact, there are only about 7.4 billion ripple on the market (source) with Ripple Labs giving away an additional 1.25 million ripple every day.

If we take the current market price for ripple ($0.016) and multiply it by the actual supply (7.4 billion), we’d see ripple’s market cap is actually around $118 million. That would make it about a third the size of the $389 million litecoin market.

What’s interesting about this, though, is the fact that a sudden influx of cash into the ripple market could spike prices much higher than it might otherwise (if the full circulation of ripple were already in the wild). For example, CoinMarketCap.com estimates ripple’s market cap at $2 billion. If indeed ripple’s market cap hit $2 billion and there were only 7.4 billion ripple on the market, we’d be looking at ripple prices around $0.27.

If ripple’s market cap surged to $10 billion (a number bitcoin hit back in December), we’d be looking at ripple prices of $1.35. A market cap around $15 billion would push ripple up to $2. Not bad!

I've studied Ripple for a while and asked many questions. It is backed by some very big names and companies such as Google ventures. It is much more complex than Bitcoin, that is certain. But also holds the promise of doing much more. Ripple doesn't replace Bitcoin but rather, complements it. A lot simply don't understand Ripple and haven't thought long enough about it to see the implications.

One of Ripple's prime advantages over Bitcoin is that the development of the software and promotion of the related gateway services is run by a for-profit company instead of a non profit.. You might think this is a bad thing but actually, it aligns the financial interests with the interests of the users. There's a financial incentive to write clean software, document it extensively, and work on the features that users actually want.

The OpenCoin team is already up to 20 people I think. They are all getting a salary, and there is a level of management which guides the development. They have actual deadlines, and investors to be held accountable to.

OpenCoin's primary stated means of generating revenue is to "hold XRPs (ripples) and hope they go up in value." That means they have a financial interest in making XRPs useful, and keeping their value stable (to the extent that they are able to do so, which will be very limited once they are all given away and sold).

Because OpenCoin needs Ripple to be successful in order for them to make money, they can do things that Bitcoin can't realistically do. Like hire a PR firm to brand the Ripple product and promote it to the masses in a commercialized way. Compare this with Bitcoin, which only recently underwent a revision to the main website. The attitude of the Bitcoin developers and principals is that they don't want Bitcoin to grow too fast, and that it is still experimental beta software. OpenCoin, on the other hand, is aggressively courting partners to make Ripple provide as much utility as possible in a short time. OpenCoin has a lot of momentum, plenty of smart people, and a bulging war-chest of investment capital.

Ripple is already an impressive piece of working software. You can go into your Ripple wallet right now and trade Bitcoins for US dollars, Euros, and XRPs, in the distributed order book. You can deposit and withdraw money at both Bitstamp and WeExchange. The Ripple beta solves the problem we recently experienced with the denial of service and MtGox lag. When Ripple opens its doors to the public, the first thing it will do is provide profoundly deep liquidity for Bitcoin. It will make the process of depositing money at an exchange a distributed process, since deposited funds can be used to purchase bitcoins in ANY order book not just one. Withdrawal of funds will be similarly distributed. If an exchange has a $10,000 monthly withdrawal limit you could just open an account at another exchange and withdraw from there as well.

 Going beyond Bitcoin, Ripple will easily integrate into traditional payment networks like debit cards or checking accounts, allowing vendors to unknowingly accept Ripple payments through their already existing systems. Since Ripple IOUs correspond naturally to fiat currencies, these integrations will be far more convenient and functional than their Bitcoin counterparts.

Ripple dollars will be the most commonly traded crypto currency. With a hard limit of 99 billion to be released in circulation. No more can be created...This protects against inflation down the road...

Ripple is poised to be the next big thing during the crypto-currency revolution.

In the long term, there must be one or several of the best digital encryption currency is widely accepted by the market.

death to ripple

Ripple is ridiculously complicated (i.e my balance is not actually BTC but "Bitstamp btc" // that is only one example of serious issues with Ripple), and in it's current form has almost no chance of real success. Sorry, but I strongly believe that to be accurate.

Maybe, the Ripple creators are "too smart" and cannot create something suitable for the masses?

In moving into the future, we all must consider the effects to the environment and issues of sustainability. The only coin that moves towards this is Mintcoin. Mintcoin has an excellent development team and a huge and growing community. It has switched to Proof of Stake minting which takes a lot less electricity than coins like Bitcoin or Litecoin. With Mintcoin, you get more coins by holding them. It pays out at 20% in the first year, then 15%, then 10%, then 5% for each subsequent year. The community is strong and more and more merchants keep adding Mintcoin. As well, Vault of Satoshi is adding Mintcoin next month which is fantastic. This is definitely gonna be one of the long-term players.

http://i59.tinypic.com/1zzro12.png

I had a revelation about Ripple and saw its potential about a month ago when a few Ripple based alt coins (BIG coin and LOLcoin) were released and the coins were given away like XRP was originally on bitcointalk.

I was determined to exchange the free coins for btc and after a few frustrating but enlightening hours I was successful in exchanging my 50,000 BIG coin and 2,000,000 LOLcoin for .008 btc.

If you really want to understand ripple, I found hands on experience to be the best teacher.

somehow I ended up with an account negative 999,000 LOLcoins...I don't know how this happened can anyone explain?

https://i.imgur.com/oJFNG9r.png

I'm a strong supporter of two you named and I'll let you guess witch two I'm talking about.  ::)  I don't know a long about Mastercoin so I won't say much about that.. End comment hehe.

POS Android minting is the future

more Distributed and not dependant in big hardware to process transactions.

Less energy consumption, and really really fast confirmation speed.

That gives you three options: Mint (since early feb) BC sin late feb/march and ECC

Mint have better name and the comunity is not focused on price pumping, but in developing services
in the other hand, BC is more focused on price pumping trough multipool (ASIC will kill this)

ECC sounds like w0long, i bought a few at 6 an alredy put it on sale at 48, trying to get lucky

Mint is clearly the future.

Thanks for the info.   So the app is called Mint?  

I want to like Ripple.... "a few frustrating but enlightening hours" just doesn't cut it these days.


Careful if the value goes way up you will have a debt you can never repay...........LOL?

It's one of the altcoins called Mintcoin or MINT. It is now using Proof of Stake (PoS) minting which means if you have Mintcoins and just hold them, you get 20% more coins after one year. It's kinda like mining except you don't have to send BTC to some bogus website in hopes that they will send you an ASIC to mine SHA or scrypt coins with and not rip you off. You can mint with a laptop and so long as you don't move the coins and they just sit there, you get 20%.

http://i61.tinypic.com/zkftc9.png

Awesome will check it out

The Coin, Mint coin.

The app is gonna be released soon, revolutionary.

@Bit Happy…Ripple may seem difficult to understand to some, it depends on your knowledge of finance. For you to get a better grasp about how there can be BTC:Bitstamp, take a quick jog over to wikipedia and read about the Free Banking Era of the 1800s (before the Fed).

@Str4m4n…yes, I can explain what happened. Ripple allows anyone to become a ‘bank’ or 'gateway' and issue anything of value. One man, for example, issued DYM which he backed with real silver dimes that he would redeem upon demand. You apparently issued about a million LOL, and someone trusted you and accepted them from you. (As a general rule for newbies, you probably shouldn’t trust anyone other than the gateway where you deposited cash, crypto or commodity).

I think the lol after -999,000 is apt here.

I also don't like ripple.
 I think litecoin will be in the future will have great development, because now it still has very large development space
I bought some at a high price, while the present price halved! Damned!

You have my vote.

I find animosity toward Ripple to be perplexing.

The Ripple protocol enables a 1000 Bitcoin transactions per second (and is easily scaleable) ... whereas the bitcoin protocol can only handle what?...7?

The RTXP protocol enables bitcoin transaction to clear instantly ... whereas the BTC protocol takes a minimum of 10 minutes.

The consensus system is not subject to malleability or 51% attack....

The network is distributed, so accounts can't be frozen and it doesn't rely on centralized exchanges (i.e. Mt Gox).

Every aspect of it is open source so you can do whatever you want with it.


I can understand a preference for a particular currency (like gold or LTC)...and a revulsion from others (like fiat). With Ripple you can keep your wealth in any currency you want....and have it easily interchangeable with everyone else. (I wouldn't recommend XRP though as it is primarily for anti spam....)


There is no doubt the Ripple ecosystem is the most inclusive, thoroughly designed payment system, exchange and protocol.... and it's closest competitor is still in a primordial soup....

Wait, wouldn't that be terrible for any Mintcoin-based economy? Since it is the MOVEMENT / fluidity of currency that grows an economy??

Essentially, the internet is saying to you, "hey, your LOL coins are actually worth less than nothing! You shouldn't use this crypto... Stick to BTC"

I dont want to be hearing about new Coins. Not when Half of my wealth is tied up in Bitcoins and Litecoins.

Alot of other people are in the same boat as me. Bitcoin cant fail because there are to many of us who wont give up on it.
Or cant give up on it lol.

In my view the best shot at crypto dominance is a easy to use coin that is fast and secure. It will need to be a PoW/PoS hybrid with an Android app that can mint new coins and has large community devoted to it's development.

The only alt I know about that is anywhere near being that is MINT. And at under 20 satosh right now it's a hell of a bargain. There's no completed android app as of yet but there will be soon enough. It's being developed now.

Get in while it's hot!!! Once android minting comes out this coin is going to explode in price.

Thanks, I do understand it.
Almost no one who lives within 20 miles of me would be interested in Ripple (only exaggerating slightly), and I live in an area that is (on average) "well educated".

Umm... just no. If those transactions aren't on the blockchain, they're not Bitcoin transactions.

Further, these 'not-Bitcoin transactions' are not only not Bitcoin-transactions, they're not even bitcoin transactions. by this, I mean that they don't involve bitcoins. They involve bitcoin-IOUs, which are demonstrably different things from bitcoins.

The future of crypto is defintely PoS. I also like MINT. When the android app comes out it's going to be a significant technical development and the first PoS android app.

I think it's really going places.

It's analogous to mining. Just without the energy waste.

I do really like the whole Proof-of-stake concept. Environmentally speaking, if bitcoin is a nightmare, mintcoin is a dream.

bitcoin is so rooted into the community and so widely adopted, it will be hard to compete with and too much is at stake to let it fail. it will evolve in a 2.0 eventually.

interesting is that no-one names doge.

which has a far wider adoption then mint ( currently ).

now with asics coming out doge can be harvested cheap.

hash per watt increases dramatically.

350khash/s 7 watts. vs 100-120 previously

i believe bitcoin, litecoin, peercoin and perhaps ripple is here to stay

litecoin will see dramatic increases in hashrates.

I actually liked doge too but discovered MINT right about the same time and decided I prefer the PoS route. I had btc and ltc holdings for a while but sold off and just took a much smaller position with an alt.

I'm not currenly much interested in ltc but I will use it to trade if I think I can get an arb or whatever. Btc I probably wouldn't take a position in unless it got to about $100. Then I would probably only buy 5 to see what happens. I wouldn't risk any more than that on it. It certainly won't be going back to $1000 imho.

BTC 2.0 maybe an different kettle of fish. I would likely be interested in something like that. Or a "btc-killer" (so-called) coin that featured true anonymity and secure encryption would be extremely interesting.

doge is toast! = dilution machine on steroids ! =\

i think its holding price quite strongly atm.

if you look at how much other alts have been hit.

even with the dilution

Bitcoin has the first-mover advantage that other alts don't have. It would be very difficult for other alts to achieve such a network effect that Bitcoin has already established.

Check out mintcoin

In my view the best shot at crypto dominance is a easy to use coin that is fast and secure. It will need to be a PoW/PoS hybrid with an Android app that can mint new coins and has large community devoted to it's development.

The only alt I know about that is anywhere near being that is MINT. And at under 20 satosh right now it's a hell of a bargain. There's no completed android app as of yet but there will be soon enough. It's being developed now.

Even if Bitcoin currency is not to become in the future it will be seen as a store of value like gold.

So you had a revelation about a coin that creates other coins that puts you in debt of that coin?

What is your revelation?

That it's a good coin because you have negative 999,000 LOLcoins???

I also think that litecoin will be in the future will have great development, change to now on the basis of strong point.
In my view the best shot at crypto dominance is a easy to use coin that is fast and secure. It will need to be a PoW/PoS hybrid with an Android app that can mint new coins and has large community devoted to it's development.

The only alt I know about that is anywhere near being that is MINT. And at under 20 satosh right now it's a hell of a bargain. There's no completed android app as of yet but there will be soon enough. It's being developed now.

Get in while it's hot!!! Once android minting comes out this coin is going to explode in price.

You don't want to hear, but more people will hear. Lots of people are in the BTC or LTC boats, but more people will jump to mintcoin boat.

+42,42424242

Yahoo! and MySpace had first-mover advantage.
I love BTC, and some of the alts are also worthy.

Yeah in the same your stock broker is " too smart".

Ripple is poised to be the next big thing during the crypto-currency revolution.
ripple is not the same as other coins. it depends on the company. How the team run it.

i think Ripple has a ton of potential

meh I found ripple to be a confusing mess

In my view the best shot at crypto dominance is a easy to use coin that is fast and secure. It will need to be a PoW/PoS hybrid with an Android app that can mint new coins and has large community devoted to it's development.

The only alt I know about that is anywhere near being that is MINT. And at under 20 satosh right now it's a hell of a bargain. There's no completed android app as of yet but there will be soon enough. It's being developed now.

Get in while it's hot!!! Once android minting comes out this coin is going to explode in price.

Why should an android app mint coins? Simply an android app that gives away coins that have already been minted should suffice, shouldn't it?

-MarkM-

Why would "the masses" even ever see the current Ripple client?

Surely they would simply have bank accounts and credit cards, just like now, and maybe not even realise that their bank and their credit card network happen to run on the Ripple network?

Even with bitcoin-derived coins we already see "the masses" not running "full clients", and see developers and those who advise / forum-troll developers posting that the whole way the clients work, how one secures one's wallet and so on all need a whole lot of dumbing-down in order to appeal to "the masses".

-MarkM-

Well, where would these MINT come from? if the app simply gives away coins that have already been minted it's going to mean that whoever minted those coins is just giving them away. Why would someone be incentivized to do this? 

The point of minting on an android device is the same as the point of  any other mining just at far less electrical usage and on a miniature potable device instead of expensive specialized equipment.

The benefits seems obvious

I have a slightly different point of view. Now BTC is a clear and undisputed leader because it was pioneer in industry. Therefore it’s attracting so mush attention. It is important to bare in mind BTC was based on a strong theoretical ground and did not appear in a single day. This is the first “real” product made after years of researches at the intersection of around cryptography, p2p-networks and financial science.

But as all first things BTC has evident downsides which are unlikely to let him take the world domination in the future. I won’t stay in details, a lot has been said before me. BTC problems: possibility ASIC-mining, the threat 51%, high concentration of funds in large exchange (hi, Mt.Gox!) etc. Idea is great but implementation needs additional set up imo.

The History remembers many companies, which were the first in their field but then found themselves well behind others. Last case is Facebook. Nobody knew what these guys were counting on because we had MySpace. Once upon a time Yahoo shares devaluated by several times and reanimation didn’t save our patient. And Facebook got on IPO in 2013 and its estimate was multimillions.

The trend remained and now all the processes go even faster so in the long-term I certainly won’t count on BTC.

In this regards LTC seems much more interesting. I think there is well present – www.mapofcoins.com. LTC improved technology and it’s a main reason why it has so many forks. Unfortunately  this map hasn’t cryptocurrencies created on another protocol than BTC. Ripple, Mastercoin, Mint, NXT can serve as good examples.

Otherwise I’m not sure that Ripple and Mastercoin are cryptocurrencies. I think rather they are technologies which will work to promo of cryptocurrencies and to increase possibilities. I mean they could increase the coverage and help cryptocurrencies to find one’s way to the business sphere including transnational corporations. Awesome! I like investors trusts in such projects and scouting the professional. This gives us hope that we won’t wait for a half century for “great leap for mankind”.

Now cryprocurrencies are toy for overqualified users and gambles because cryprocurrencies don’t provide the real sector. Future mostly depends on what products or services you may actually buy with them. Square opened the door for BTC recently, which is a very positive tendency. I think the other “advanced” IT-companies are also moving in this direction. Surely tomorrow Google won’t begin to accept BTC as payment for Adwords. But this will happen and it will have a wow-effect!



I agree! We might wait a first “light” app to mobile It’s important. I’m not just talking about wallets and exchanges, but also about mining possibility. Smartphones has very actual hardware and I believe technologies uses smartphones for mining will be created soon. And they won’t discharge in half an hour :-)

Next trend is protection privacy.


Nowadays there have been a lot of fuss about governmental surveillance on regular people’s lives: later scandals on NSA and Snowden, Microsoft selling information about their users for special services, Google data-mining Gmail post-account… We also have annoying commercials and SMS-spam. The Big Brother knows which toothpaste you should use in the morning, where you should eat and whom you should sleep with. And he definitely knows it better than you. In modern world privacy is extremely expensive but that can be changed.

Globalization knocking on the door and I see great opportunities for the development of cryptocurrency. Yes, now it is firmly attached to fiat but they might rise above the national currencies in time. Then we’ll live in a world with no borders. That sounds like a utopia but the first electric cars and solar batteries also were a huge source of laughter. But at the moment we have Tesla and Israeli cities with no central heating.
I think all of the currencies mentioned above are good for short-term investments. However it is important to remember that now cryptocurrencies (BTC, LTC, doge etc) are just the first signs.

fuck ripple!

is there any good historical ripple/btc price chart? not in dollars.

The MINT community is sponsoring a bounty for this development and it is being worked on as we speak.

ripplecharts.com

The whole point of giving them away, whether you give them away to people who use phones to get the "free" coins or people who fill out captchas or people who happen to live in Iceland or people who happen to be Native Americans or whatever, is to get them into the hands of lots of people so that maybe some of the people who are given some might actually do something useful with them to build an economy instead of just dumping them like miners tend to do.

-MarkM-

+1

i love mintcoin and eccoin

You're thinking is wrong.

I don't believe in MINT. MINT was launched February 2014 but many coins are mined. The ones who start first are profitable. Coin is the most consolidated so far imo.
+ Eco-thematic is a good PR but MINT is just the fork (the same problems with security etc).

If we want to upgrade cryptocurrencies we must evolve this sphere. We must support really new cryptocurrencies but not speculative.
I'm sure new trend is data/privacy protection. Pay attention to zerocoin or bytecoin (BCN not BTE, here (https://bitcointalk.org/index.php?topic=512747)), etc. We discuss them in the next thread, this technologies look rather promising.

I agree that true anonymity is an essential development. Also decentralized cpu mining.

I think this will be the next evolution.

Does decentralized cpu mining eliminate both botnets and pools, or still allow pools without botnets?

Aren't pools still somewhat a centralized way of mining?

another ripple Advertisement  ::)

Discussing that subject here:
https://bitcointalk.org/index.php?topic=557732.msg6107904#msg6107904