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So, do people not realize that none of these altcoins are useful? Even YACoin isn't exactly innovative. Anyone who reads through the source could would agree ... not to mention all he did was pluck out regular scrypt and pop in scrypt w/keccak512 and ChaCha20/8. For one, writing an OpenCL kernel for it is not difficult and second using a starting N value of 32 makes it extremely FPGA friendly (which is why the hashrate exploded).
And also do people not understand that almost none of these cryptocoins can be considered actual currency? Until a cryptocoin is used widely enough to exhange for goods and services, it's just a digital commodity not a currency. Bitcoin can be considered a currency and Litecoin seems to be making its way there. But pretty much every other coin cannot be used to buy a good or service other than to be exchanged with other cryptocurrencies.
All of these altcoins are *worthless* until they are widely accepted enough to actually be used to buy things with.
With that said, I'll gladly mine them and exchange them for BTC and LTC
And also do people not understand that almost none of these cryptocoins can be considered actual currency? Until a cryptocoin is used widely enough to exhange for goods and services, it's just a digital commodity not a currency. Bitcoin can be considered a currency and Litecoin seems to be making its way there. But pretty much every other coin cannot be used to buy a good or service other than to be exchanged with other cryptocurrencies.
All of these altcoins are *worthless* until they are widely accepted enough to actually be used to buy things with.
With that said, I'll gladly mine them and exchange them for BTC and LTC
I am just curious what you think about ripple? Also how do you feel about the same blockchain technology being implemented for something other than currency like voting, stock shares, or virtual game currency. It seems like there may be applications for alt "coins" or alt-chains than can extend well beyond what this discussion has been limited to. If we are talking about making another PnD scam coin I am kind of over that though. I see that part of your point.
