Third major crypto currency for India?

[Fifth_ID]

With bitcoin being the primary crypto and the possible support of litecoin on bitocean, what would be the next major crypto currency in India?

I personally prefer Novacoin although it's 2.2 billion cap seems to be very high (I know about the pre-mine allegations but somehow that doesn't really bother me.) The 2.2 billion cap may even make the coin seem cheaper to purchase than btc and ltc when crypto markets reach full maturity.

I'm biased towards Scrypt because I can mine at 268 Kh/s on scrypt but only 189 Mh/s on SHA 256.

PPCoin is listed as a major currency (in this thread https://bitcointalk.org/index.php?topic=134179.0) but I gather that Novacoin may ultimately replace it. I can't even download the blockchain of PPC in its client (something about the checkpoint being too old.)

[1714867689]

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[1714867689]

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[1714867689]

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[spndr7]

With bitcoin being the primary crypto and the possible support of litecoin on bitocean, what would be the next major crypto currency in India?

I personally prefer Novacoin although it's 2.2 billion cap seems to be very high (I know about the pre-mine allegations but somehow that doesn't really bother me.) The 2.2 billion cap may even make the coin seem cheaper to purchase than btc and ltc when crypto markets reach full maturity.

I'm biased towards Scrypt because I can mine at 268 Kh/s on scrypt but only 189 Mh/s on SHA 256.

PPCoin is listed as a major currency (in this thread https://bitcointalk.org/index.php?topic=134179.0) but I gather that Novacoin may ultimately replace it. I can't even download the blockchain of PPC in its client (something about the checkpoint being too old.)

But it bothers others,some the creator may dump the premine and the market collapses.This happened with many alt coins earlier,like TBX.
From my point of view for the third position the contenders are PPC and TRC.

[legendster]

I m betting my Money on TRC and NMC

[spndr7]

I m betting my Money on TRC and NMC

NMC is evergreen,not much affected 

[skang]

Guys guys guys! Please stop using them coins as trade commodities.

Speaking theoretically, Let me list why certain famous coins are not sustainable or needed or flawed.
+ Novacoin is simply a mix of ltc and ppc. It was premined and that was such a disadvantage that btc-e destroyed the nvc it got as donation when nvc was launched. NVC's demand exceeded that of LTC after 1 week of its launch, while LTC was an year old. Somebody was pumping really hard on btc-e. Scam all over.
+ Terracoin is simply a copy of BTC. It had flaws when it started which were later corrected though. Since it offers no advantage over btc it is useless in my opinion. Infact, if they allow merged mining you will see that mining for TRC will stop all together. If you are going for BTC copies guys why not create your own? afterall, BTC is open source.
+ Freicoin is joke with 80% going to the foundation for first 3 years.

The only usefull currencies are :
+ LTC , it is faster. If you look closely it requires local memory. GPUs have high local memory so now people are mining LTC with GPUs. Infact this fast memory requirement is why it is called ASIC and FPGA proof. It is not actually ASIC/FPGA proof but building fast memory into them is expensive and not worth it. Also it will give very less advantage so wont likely be implemented soon.
+ PPC is actually a technological improvement. Reading the paper, you see that proof-of-work is replaced by proof-of-stake, except for initial minting. This makes it both energy efficient and more resistant to 51% attack. The current problem is that is not decentralized due to 'central checkpointing' but this is going to be faded away slowly. Once it is fully decentralized, it should be a true competitor to btc. theoretically.
+ Namecoins is most useful of coins practically. Essentially it binds a key-value pair into the coins. This property can be used to develop various exciting systems such as p2p DNS system that cannot be banned!, alias for a user, building a 'WebOfTrust', broadcasting messages, tracker for torrents etc. It is really silly why any would even sell their namecoins! You can confirm their silliness by asking them if they know about '.bit' domains, then watch there clueless faces, laugh internally and grab their namecoins. Say Thank you.

But but but, I could be wrong in saying this , but there simply not enough volume in India for PPC,NMC or even LTC. Hell, at the time of writing I have not been able to purchase even BTC at the prevelant rates for past 1 month!!! If anything is to be included in the exchange, I highly recommend analysing the volume of it first.

[Fifth_ID]

I agree on PPC's benefit of having a proof of stake model. I'm not that technically oriented to really grok the benefits of namecoins.

The only immediate use that I have for cryptos is sending tips for posts that I find useful. I don't have to enter my paypal or bank account details so I can remain anonymous.

The checkpoint error went away once the whole ppc blockchain downloaded for the client.

[spndr7]

Guys guys guys! Please stop using them coins as trade commodities.

Speaking theoretically, Let me list why certain famous coins are not sustainable or needed or flawed.
+ Novacoin is simply a mix of ltc and ppc. It was premined and that was such a disadvantage that btc-e destroyed the nvc it got as donation when nvc was launched. NVC's demand exceeded that of LTC after 1 week of its launch, while LTC was an year old. Somebody was pumping really hard on btc-e. Scam all over.
+ Terracoin is simply a copy of BTC. It had flaws when it started which were later corrected though. Since it offers no advantage over btc it is useless in my opinion. Infact, if they allow merged mining you will see that mining for TRC will stop all together. If you are going for BTC copies guys why not create your own? afterall, BTC is open source.
+ Freicoin is joke with 80% going to the foundation for first 3 years.

The only usefull currencies are :
+ LTC , it is faster. If you look closely it requires local memory. GPUs have high local memory so now people are mining LTC with GPUs. Infact this fast memory requirement is why it is called ASIC and FPGA proof. It is not actually ASIC/FPGA proof but building fast memory into them is expensive and not worth it. Also it will give very less advantage so wont likely be implemented soon.
+ PPC is actually a technological improvement. Reading the paper, you see that proof-of-work is replaced by proof-of-stake, except for initial minting. This makes it both energy efficient and more resistant to 51% attack. The current problem is that is not decentralized due to 'central checkpointing' but this is going to be faded away slowly. Once it is fully decentralized, it should be a true competitor to btc. theoretically.
+ Namecoins is most useful of coins practically. Essentially it binds a key-value pair into the coins. This property can be used to develop various exciting systems such as p2p DNS system that cannot be banned!, alias for a user, building a 'WebOfTrust', broadcasting messages, tracker for torrents etc. It is really silly why any would even sell their namecoins! You can confirm their silliness by asking them if they know about '.bit' domains, then watch there clueless faces, laugh internally and grab their namecoins. Say Thank you.

But but but, I could be wrong in saying this , but there simply not enough volume in India for PPC,NMC or even LTC. Hell, at the time of writing I have not been able to purchase even BTC at the prevelant rates for past 1 month!!! If anything is to be included in the exchange, I highly recommend analysing the volume of it first.

+2
Good summary of current alt coins.

[Benson Samuel]

India has a distinct disadvantage when it comes to getting cutting edge technology at the same time as the rest of the world.

Something needs to bridge that gap, so that based on technology delivery times, the currency needs to be mineable in that part of the world.

Sounds like a plan for Indiacoin to me

Upcoming altcoins with CPU/ Low GPU mining requirements may be the path ahead for India's CPU heavy infrastructure.

[Fifth_ID]

India has a distinct disadvantage when it comes to getting cutting edge technology at the same time as the rest of the world.

Something needs to bridge that gap, so that based on technology delivery times, the currency needs to be mineable in that part of the world.

Sounds like a plan for Indiacoin to me

Upcoming altcoins with CPU/ Low GPU mining requirements may be the path ahead for India's CPU heavy infrastructure.

+1 for scrypt
+1 for proof of stake

[Benson Samuel]

India has a distinct disadvantage when it comes to getting cutting edge technology at the same time as the rest of the world.

Something needs to bridge that gap, so that based on technology delivery times, the currency needs to be mineable in that part of the world.

Sounds like a plan for Indiacoin to me

Upcoming altcoins with CPU/ Low GPU mining requirements may be the path ahead for India's CPU heavy infrastructure.

+1 for scrypt
+1 for proof of stake

Yes proof of stake vs proof of work sounds very attractive as it also solves the problem of the fixed transaction fee.