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Question: Which cryptocurrency will become the gold standard of the future?  (Voting closed: July 08, 2017, 09:34:35 PM)
Bitcoin - 18 (40.9%)
Ethereum - 3 (6.8%)
Ripple - 0 (0%)
Litecoin - 7 (15.9%)
Ethereum Classic - 1 (2.3%)
NEM - 0 (0%)
IOTA - 0 (0%)
Dash - 0 (0%)
BitShares - 0 (0%)
Stratis - 4 (9.1%)
Monero - 5 (11.4%)
Zcash - 1 (2.3%)
Other - 5 (11.4%)
Total Voters: 44

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Author Topic: Which cryptocurrency will become the gold standard of the future?  (Read 1680 times)
BrianH
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June 24, 2017, 09:34:35 PM
 #1

Based on currently available technologies, which currency do you think will be the #1 currency of the future?

Bitcoin started it all. It has developer, exchange, market and even government support now. However, it has the same problem it has when I stopped trading Bitcoin in 2011 - scaling and transaction problems. 6 years later that still has not been resolved. Even the proposed Segwit2x changes may likely only be a temporary fix and a hard fork to a Bitcoin Classic is sounding more and more likely. I personally think Bitcoin's greatest strength (current gold standard) may doom it in the end, because there is so much money and so many different players involved that getting unanimous consent on changes is impossible.

My personal opinion is that the #1 cryptocurrency of the future needs at least 5 things:
1. Manageable blockchain / alternative that is small enough or capable of working on a smartphone. Any crypto that scales indefinitely will eventually run out of space or become centralized. (Interesting discussion here)
2. Transaction speed - <=1 min - You can't stand 1hr in line at the grocery store waiting for your purchase to confirm.
3. Transaction number - >10,000-100,000TPS. It basically has to be able to replace your credit card... on a global scale.
4. Secure - unhackable, non-DDOSable. You know... a cryptocurrency.
5. Anonymity - fungibility. Acts like cash. Cannot be traced. This may be very optional as companies may WANT traceability to deal with theft or the possibility of counterfeiting. There may be more than one "best" major cryptos - one that is totally anonymous and one that is traceable.

I know of no single crypto that includes all 5 of these features. Bitcoin has #4. NEM and IOTA may achieve 1, 2, 3 and 4. Cloakcoin can achieve 2, 4 and 5, but will have scalability issues in the future and is not open source, so 5 is in question. Monero achieves 4 and 5, but has major scalability issues.

So here is a list of the top 12 cryptos by market cap. Will Bitcoin prevail? What else do you think has potential? Is there anything out there that can achieve all 5?
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June 24, 2017, 09:48:42 PM
 #2

Bitcoin! It's like Gold - you have like Platin which is mabye more worth but the standard stays Gold no mater what you do.

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June 24, 2017, 09:52:19 PM
 #3

My bet goes for Litecoin... We will see this changing August 1st
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June 24, 2017, 09:56:45 PM
 #4

My bet goes for Litecoin... We will see this changing August 1st
Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin sure not back to 1,5$

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June 24, 2017, 10:09:47 PM
 #5

My bet goes for Litecoin... We will see this changing August 1st
Litecoin is still the best and it has been undervalued for many years. Hope that people will soon see the potential within this coin. You can see, litecoin has a good dev team and not like bitcoin, developers are doing their best for this coin

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June 25, 2017, 11:38:27 AM
 #6

If you mean gold standard as a value storage, I also see bitcoin as winning it the long term. It just has too much media coverage and popularity outside crypto world to be dethroned any time soon...unless something considerably damaging would happen (even then, I think it can bounce back with time and still keep a leading role).

Maybe we won't buy coffees with BTC, but I'm still using BTC on a weekly basis. There still is a huge usability when buying and selling goods and services that aren't minute-time-sensitive.

We shall live and see.

 
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June 25, 2017, 12:09:58 PM
 #7

Seeing the current growth and acceptance of various cryptocurrencies, i don't think that any altcoin out there can surpass Bitcoin simply because it is the most accepted cryptocurrency out there. It has shown good rates of growth and it can be gold standard of future.
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June 25, 2017, 12:19:46 PM
 #8

You can't look further than bitcoin. At the moment it is the coin with the best value, most people get into altcoins as a way to hedge  bitcoin.

A lot of altcoins have some technical difference compared to bitcoin and that is often the reason given for why people invest in them.

Bitcoin is proven as a store of value with proven security. Once it's network issues and transaction fees are sorted. It will become unbeatable.
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June 25, 2017, 12:26:51 PM
 #9

At the moment bitcoin will not stop to rise and still stay at the top

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June 25, 2017, 12:29:39 PM
 #10

Bitcoin will always be gold, even if shitcoin can pass it marketcap.

i scam no one and the scammers don't like me. trade with caution? i don't do trade on bitcointalk and don't ask about it. ark.io
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June 25, 2017, 01:08:11 PM
 #11

the answer is somewhat clear.
bitcoin may be that coin.
there is no way ethereum comes even close.
LTC has a better chance but the following 6 months will determine if LTC will become a real currency and mass adopted with a shooting price to the moon or will become a dead chikun.
Monero is the best anon coin but these coins will be under a lot of pressure and will face a lot of problems from governments if they gain any popularity.
the rest are mostly jokes to me.

2. Transaction speed - <=1 min - You can't stand 1hr in line at the grocery store waiting for your purchase to confirm.
bitcoin block time is 10 minute on average (1 confirmation) and in the past 8 years nobody waited more than 5 seconds then buying something from a physical shop. and there has been 0 reports of fraud from any of the physical shops who accepted bitcoin so far.

and remember if you want to truly be safe you have to wait for more confirmation in other words wait until the transaction is deep. for bitcoin it is 3 for other altcoins it is 10, 50, 100 confirmation. so the same time!

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June 25, 2017, 01:12:22 PM
 #12

I think None, but if any of these coins has a chance it will be Bitcoin, but I think the demerit of Bitcoin here is the 21 million unless we start to spend Satoshi unit  when 1satoshi equals $1
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June 25, 2017, 01:34:12 PM
 #13

For something to be a standard, it must first and formost be fair.
You could say:

Bitcoin = Gold
Litecoin = Silver
Monero = Nickel


Any Bitcoin address not starting with 1 is fraud and scam Full (20 coins) Cryptomarket History
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June 25, 2017, 01:51:31 PM
 #14

I voted for bitcoin. I think bitcoin is and will be number one cryptocurrency.
I don't think grocery stores will accept cryptocurrency in near future, and under 1 minute transaction is not possible with large number of transactions.

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June 25, 2017, 01:54:50 PM
 #15

The answer is pretty obvious,right now it's still Bitcoin and will always be Bitcoin if the current trend continuous, there will be big update on August 1 this is I believe to fix what current bitcoin holders are facing after Bitcoin will continue to hold the number one spot.

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xhienigat
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June 25, 2017, 03:47:25 PM
 #16

I think or I'm sure bitcoin would become the gold standard in the future. Look at its price now for goodness sake out of all the other coins, alternate coins that is.

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June 25, 2017, 05:17:18 PM
 #17


Litecoin
vincentekb
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June 25, 2017, 05:49:02 PM
 #18

ETH, cos this is going now: it giving life for new coins like a basic treasure.

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June 25, 2017, 05:55:36 PM
 #19

Viacoin is going to be much better then litecoin imo. Grin
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June 25, 2017, 08:13:40 PM
 #20

I don't think the "gold standard" exists yet.
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