Bitcoin Forum
November 24, 2017, 01:51:08 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Projected Outcome of Different Virtual Currencies  (Read 496 times)
george357
Jr. Member
*
Offline Offline

Activity: 31


View Profile
March 22, 2013, 08:20:25 PM
 #1

As I stated in my introduction I come across BTC a few years ago originally and never thought nothing of it until I rediscovered it a few days ago. I am really excited about BTC but in my research on it I've seen other virtual crypto-currencies such as LiteCoin and Terracoin plus others I cannot remember the name of currently. I have already taken steps toward TerraCoin acquisition and am planning the same for LiteCoin. I would be curious to see discussion on these two plus any other possibly viable virtual crypto-currencies. Anyone and everyone feel free to chime in with thoughts and input, especially information from individuals with a strong background in these types of currencies and/or factual information.

George
1511531468
Hero Member
*
Offline Offline

Posts: 1511531468

View Profile Personal Message (Offline)

Ignore
1511531468
Reply with quote  #2

1511531468
Report to moderator
Join ICO Now A blockchain platform for effective freelancing
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511531468
Hero Member
*
Offline Offline

Posts: 1511531468

View Profile Personal Message (Offline)

Ignore
1511531468
Reply with quote  #2

1511531468
Report to moderator
1511531468
Hero Member
*
Offline Offline

Posts: 1511531468

View Profile Personal Message (Offline)

Ignore
1511531468
Reply with quote  #2

1511531468
Report to moderator
1511531468
Hero Member
*
Offline Offline

Posts: 1511531468

View Profile Personal Message (Offline)

Ignore
1511531468
Reply with quote  #2

1511531468
Report to moderator
wormbog
Hero Member
*****
Offline Offline

Activity: 561



View Profile
March 22, 2013, 08:31:38 PM
 #2

I've mined most of the alt-coins, and while they're fun from the technical standpoint, I don't see them being useful for anything other than a means for experimentation and currency exchange speculation.

If bitcoin proves to have some yet-undiscovered major flaw, I suspect a new fork would be created rather than anyone flocking to an existing alt-coin.

 
dendory
Newbie
*
Offline Offline

Activity: 14



View Profile
March 22, 2013, 08:35:43 PM
 #3

I doubt any other virtual currency has a better chance at taking off than Bitcoin right now.

Freelance Content Creator - Rate Chart (http://dendory.net/screenshots/rate_chart_btc.pdf)
I create blog posts, copywriting, marketing campaigns, SEO articles, logos, banners, ebook covers, and web sites for Bitcoins
george357
Jr. Member
*
Offline Offline

Activity: 31


View Profile
March 22, 2013, 08:58:46 PM
 #4

I've mined most of the alt-coins, and while they're fun from the technical standpoint, I don't see them being useful for anything other than a means for experimentation and currency exchange speculation.

If bitcoin proves to have some yet-undiscovered major flaw, I suspect a new fork would be created rather than anyone flocking to an existing alt-coin.

 

The currency exchange speculation is my primary interest in other alt-coins. This is from the perspective of easier mining which may make it more conducive to garner a higher number of alt-coin to then trade for BTC.


I doubt any other virtual currency has a better chance at taking off than Bitcoin right now.

I agree that BTC has the highest chance of success currently but I also think that the possibility for up to three major players in this space exists. That is not based on anything more than a "feeling" but I see it as possible, especially if the confirmation times of other alt-coins cause them to become more attractive to retailers.
pelleb
Newbie
*
Offline Offline

Activity: 8


View Profile
March 22, 2013, 10:47:41 PM
 #5

Of course bitcoin is the most anti-fragile currency out there.

That said it would be even less fragile and in the general interest of Bitcoin users if there were at least a couple of alternatives around.

Ideally they would not be straight clones of BTC and have different properties and algorithms. For example just the fact that LTC uses SCRYPT over SHA256 makes it different enough to make the ecosystem less fragile as a whole.

Some of these may be more widespread in use in certain geographical areas or verticals just like in the world of social networks.
george357
Jr. Member
*
Offline Offline

Activity: 31


View Profile
March 22, 2013, 11:07:44 PM
 #6

Of course bitcoin is the most anti-fragile currency out there.

That said it would be even less fragile and in the general interest of Bitcoin users if there were at least a couple of alternatives around.

Ideally they would not be straight clones of BTC and have different properties and algorithms. For example just the fact that LTC uses SCRYPT over SHA256 makes it different enough to make the ecosystem less fragile as a whole.

Some of these may be more widespread in use in certain geographical areas or verticals just like in the world of social networks.

Those are my thoughts as well, at this time I am looking at LiteCoin and TerraCoin personally. If one looks at BitCoin as a representation of gold for the current US market, then another variation could fill the role of the Dollar. If that makes any sense. I am new to this so I may just be rambling, lol.  Grin
zhu_lianbing
Jr. Member
*
Offline Offline

Activity: 32


View Profile
March 23, 2013, 05:18:57 AM
 #7

Perhaps there will be many other virtual coin in internet.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!