Comparisions between BitCoin, LindenDollars and QCoin

[zebigfoot]

Folks,

I`ve been lurking on the forums on here and just soaking in all the BitCoin goodness. One thing which did strike me was how different is BitCoin from the concept of Linden Dollars and QCoins...these were also virtual currencies albeit controlled by a corporation. I`m more interested in your views on how BitCoin will evolve differently from these currencies ? QCoin is banned as of date in China, which as per the latest updates has gone big on BitCoin.

[mjc]

Lindens are created initially issued by the company that runs Second Life.  There are always large blocks of buy and sell orders to maintain a relatively fixed price.  Then the Lindens can by used for in store purchases.  I know you can sell services in Second life to make money then exchange it to real cash, but SLL not a real currency.

Bitcoin, is a real currency that can be used to store and transfer value.  The legality of it around the world is being set now.  With the Senate hearing this week the US is learning where the US Government sits.  If you were looking for a detailed review of Bitcoin, I 'm sorry.  The main difference is that now one creates and distributes Bitcoin.  New ones are found based on an algorithm built into the network, currently its 25 BTC every 10 minutes.  Bitcoin have value as a result of supply and demand.   

SLL have value because Linden company says they do.

QCoin, I'm not sure.  I did find it interesting that your request came up in the top five of the google response.  :-)

[stuffcoins]

Bitcoins to me are just super cool in the concept that no one can really seize them from you. SLL and QCoins could be yoinked for violating Terms of Services with their respective owners.

[zebigfoot]

Lindens are created initially issued by the company that runs Second Life.  There are always large blocks of buy and sell orders to maintain a relatively fixed price.  Then the Lindens can by used for in store purchases.  I know you can sell services in Second life to make money then exchange it to real cash, but SLL not a real currency.

Bitcoin, is a real currency that can be used to store and transfer value.  The legality of it around the world is being set now.  With the Senate hearing this week the US is learning where the US Government sits.  If you were looking for a detailed review of Bitcoin, I 'm sorry.  The main difference is that now one creates and distributes Bitcoin.  New ones are found based on an algorithm built into the network, currently its 25 BTC every 10 minutes.  Bitcoin have value as a result of supply and demand.   

SLL have value because Linden company says they do.

QCoin, I'm not sure.  I did find it interesting that your request came up in the top five of the google response.  :-)

thanks for your reply, MJC - its clear that bitcoin is qualitatively a different breed from SLL & QCoin. And this is a first for me to come into a google top 5 response - more power to bitcoin