Bitcoin Forum
October 28, 2020, 03:35:14 AM *
News: Latest Bitcoin Core release: 0.20.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Speculation aside, is there any reason for anyone to adopt an alt-coin?  (Read 599 times)
Stampbit
Full Member
***
Offline Offline

Activity: 182
Merit: 100



View Profile
April 26, 2013, 02:23:16 AM
 #1

Considering the overhead of exchanges, wallets, passwords, clients, miners, payment processors etc.. that must accompany a cryptocurrency, is there any real advantage to current alt-coins that warrants the cost of its adoption?
1603856114
Hero Member
*
Offline Offline

Posts: 1603856114

View Profile Personal Message (Offline)

Ignore
1603856114
Reply with quote  #2

1603856114
Report to moderator
1603856114
Hero Member
*
Offline Offline

Posts: 1603856114

View Profile Personal Message (Offline)

Ignore
1603856114
Reply with quote  #2

1603856114
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1603856114
Hero Member
*
Offline Offline

Posts: 1603856114

View Profile Personal Message (Offline)

Ignore
1603856114
Reply with quote  #2

1603856114
Report to moderator
1603856114
Hero Member
*
Offline Offline

Posts: 1603856114

View Profile Personal Message (Offline)

Ignore
1603856114
Reply with quote  #2

1603856114
Report to moderator
1603856114
Hero Member
*
Offline Offline

Posts: 1603856114

View Profile Personal Message (Offline)

Ignore
1603856114
Reply with quote  #2

1603856114
Report to moderator
Nolo
Hero Member
*****
Offline Offline

Activity: 686
Merit: 500


Whoa, there are a lot of cats in this wall.


View Profile
April 26, 2013, 02:27:02 AM
 #2

Considering the overhead of exchanges, wallets, passwords, clients, miners, payment processors etc.. that must accompany a cryptocurrency, is there any real advantage to current alt-coins that warrants the cost of its adoption?

Why do businesses accept Mastercard if they already accept VISA?  The more payment options the customer has, the more likely they are to frequent your business. 

Charlie Kelly: I'm pleading the 5th.  The Attorney: I would advise you do that.  Charlie Kelly: I'll take that advice under cooperation, alright? Now, let's say you and I go toe-to-toe on bird law and see who comes out the victor?  The Attorney: You know, I don't think I'm going to do anything close to that and I can clearly see you know nothing about the law.
19GpqFsNGP8jS941YYZZjmCSrHwvX3QjiC
Stampbit
Full Member
***
Offline Offline

Activity: 182
Merit: 100



View Profile
April 26, 2013, 02:45:13 AM
 #3

Considering the overhead of exchanges, wallets, passwords, clients, miners, payment processors etc.. that must accompany a cryptocurrency, is there any real advantage to current alt-coins that warrants the cost of its adoption?

Why do businesses accept Mastercard if they already accept VISA?  The more payment options the customer has, the more likely they are to frequent your business. 

So the real advantage to adopting current alt-coins is that their alt-coins. Anyone else?
markm
Legendary
*
Offline Offline

Activity: 2632
Merit: 1038



View Profile WWW
April 26, 2013, 02:51:36 AM
 #4

Ease of interchange. They are eaisier to flip between than trying to flip between bitcoin and various forms of fiat.

Also unlike things like EVE Online currency, Lindens, World of Warcraft gold and such you can flip without worrying that some central authority is going to decide they don't like what you did with their currency thus confiscate it or reverse a transaction etc.

You gain some privacy for example by flipping between bitcoin and litecoin, but the more alternatives you have the more paths you have for such privacy and compounding such privacy.

Plus maybe if there are enough of them you could end up with only a few famous ones being checked looking for your wealth instead of a fully exhaustive check of all possible hiding places or transit routes for value being investigated.

-MarkM-

Browser-launched Crossfire client now online (select CrossCiv server for Galactic  Milieu)
Free website hosting with PHP, MySQL etc: http://hosting.knotwork.com/
Yurizhai
Hero Member
*****
Offline Offline

Activity: 727
Merit: 500



View Profile
April 26, 2013, 03:02:56 AM
 #5

Potentially different people involved, communities, experience. Almost like a different team maybe? I don't watch sports and always wondered how so many people can love X team over another when there's like 20 people per team, hundreds in the country, it all seems arbitrary right? Yet people get INTENSE about that. Same with coins, you have options to have a new one and different experience. You might like the name better, the features better, and thus the experience better. Some coin called AnalCoin might come out tomorrow with a picture of a butthole and people who adopt it just think that's funny. Maybe there's a coin called ShadyCoin and people use it for shady shit only.

I don't know man.
Vorksholk
Legendary
*
Offline Offline

Activity: 1713
Merit: 1001



View Profile WWW
April 26, 2013, 03:13:25 AM
 #6

If an altcoin brings something new to the table, its adoption is easily-explained. For example, if a coin was released that combatted extreme gains by early adopters, the coin would server a niche, or a particular purpose.

Adoption of the "scam-coins" as some people like to call them (coins that just have a few variables changed) in my mind is simply market diversity. Just because Hershey's makes chocolate doesn't mean we don't like Nestle. Same with coins, All alternate currencies today are viable for just the simple reason that they split up a market further, which can be looked at as both good and bad. There's nothing wrong with these coins, and they are based on tried-and-true code. Smiley

VeriBlock: Securing The World's Blockchains Using Bitcoin
https://veriblock.org
Walter Rothbard
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250


Bytecoin: 8VofSsbQvTd8YwAcxiCcxrqZ9MnGPjaAQm


View Profile WWW
April 26, 2013, 03:25:17 AM
 #7

Quote
is there any reason for anyone to adopt an alt-coin?

Yes there is, and it's been posted on a bunch of threads.

Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!