What can your coin do that LTC/BTC can't?

[CoinHoarder]

you sound like a butthurt little girl who got left holding a bag of worthless coins? Am I right lol?

Bitcoiner's main crypto currency investments seem to be Bitcoin and Litecoin from what I can tell. Litecoin has gone from $0.04 to $2.65 in a year, and Bitcoin has gone from $5.00 to $120 in a year. So I'd say the last thing he's doing is holding a worthless bag of coins.

He might be a bit trollish about his antics proving other coins are just copy cats and get rich quick schemes/pump and dumps, but he does have a point. Copy cat coins don't provide the cryptocoin ecosystem with any extra advantages that crypto users can't already do.

In fact, the copy cat cryptocoins weaken the entire cryptocoin community by diverting developers and community support. Imagine if all the developers that are working on things for ALTs were all developing things for Bitcoin and Litecoin. There would be so many new services and exciting things that everyone could benefit from and wouldnt have to own X coin or Y coin or Z coin.

In summary, a new ALT coin is only useful and only benefits the community if it is innovative. As far as just changing a few parameters, that's not innovative. People have been doing it for years.

[defaced]

Competition makes for better innovation. Implying there should only be one or two cryptos that everyone supports is like saying only one type of tree should have evolved in the world because their is only one type of soil. We all know that neither of those statements return true.

As for LTC being innovative, give me a break, TENEBRIX

What can the coins I support do better then LTC/BTC?
Create a better community.

And that in my opinion is worth its weight in gold.

[CoinHoarder]

Tenebrix was premined, also the developer abandoned it along with the community.

Litecoin developers are still very much active- they are about to update the code to include all improvements up to Bitcoin v0.8.x

All the ALTs that copied off of Litecoin at its current state will be running Bitcoin v0.6.3 code. I hope these pump and dump developers are savvy enough to upgrade their coins like Litecoin is doing, otherwise eventually they will be left behind and forgotten (most of them are headed this way anyways.)

Also... create a better community? Bitcoin/Litecoin has a huge community, good luck trying to surpass all their development and services, etc. They are already ahead and have a bigger community to develop sites/services/updates to stay ahead in well into the future. There are also many more people invested into Bitcoin/Litecoin than any other crypto currency, so more people have incentive to make things and start projects because it increases value.

[markm]

If by Tenebrix developer you mean Artforz, yes he is a bit of a recluse it seems, but Lolcust is still in touch with him and Lolcust is still active on Freenode in #Tenebrix channel.

SInce people apparently do not want the super huge coin-mixer anonymity system the pre-mine was intended to enable he has been suggesting he might as well just destroy those pre-mined coins. Sheesh does he have to? Isn't there anything better they could be used for?

-MarkM-

[CoinHoarder]

Well.. I didn't mean the developer abandoned the community, but that the community abandoned Tenebrix and then the developer stopped developing things for it.

I think if the premine was destroyedp for or put up for bounties, perhaps Tenebrix could become popular again... like a BBQ coin type of thing, but it is based on an ancient version of Bitcoin.  

[digitalindustry]

I'm waiting to hear the answer to this.  There isn't anything that any of these new alt coins offer that LTC/BTC can't copy if they work.  Please tell me how any of these alt coins are anything but an experiment for new ideas for LTC/BTC to take from if they work?  Anyone?

I have a new word for everyone here.

You aren't altcoiners you are "Lab rats"

Thanks for trying out new things for us.

Cheers!

hey just one question :

do you own a Cat ?

[Lastro]

Tenebrix was premined, also the developer abandoned it along with the community.

Litecoin developers are still very much active- they are about to update the code to include all improvements up to Bitcoin v0.8.x

All the ALTs that copied off of Litecoin at its current state will be running Bitcoin v0.6.3 code. I hope these pump and dump developers are savvy enough to upgrade their coins like Litecoin is doing, otherwise eventually they will be left behind and forgotten (most of them are headed this way anyways.)

Also... create a better community? Bitcoin/Litecoin has a huge community, good luck trying to surpass all their development and services, etc. They are already ahead and have a bigger community to develop sites/services/updates to stay ahead in well into the future. There are also many more people invested into Bitcoin/Litecoin than any other crypto currency, so more people have incentive to make things and start projects because it increases value.

Why update the code? What purpose does it serve to "upgrade your coins"? Mind explaining for us newcomers to the community?

Before someone spouts off something about newbies - we are buyers too and compete for value.

[mobodick]

Tenebrix was premined, also the developer abandoned it along with the community.

Litecoin developers are still very much active- they are about to update the code to include all improvements up to Bitcoin v0.8.x

All the ALTs that copied off of Litecoin at its current state will be running Bitcoin v0.6.3 code. I hope these pump and dump developers are savvy enough to upgrade their coins like Litecoin is doing, otherwise eventually they will be left behind and forgotten (most of them are headed this way anyways.)

Also... create a better community? Bitcoin/Litecoin has a huge community, good luck trying to surpass all their development and services, etc. They are already ahead and have a bigger community to develop sites/services/updates to stay ahead in well into the future. There are also many more people invested into Bitcoin/Litecoin than any other crypto currency, so more people have incentive to make things and start projects because it increases value.

Why update the code? What purpose does it serve to "upgrade your coins"? Mind explaining for us newcomers to the community?

Before someone spouts off something about newbies - we are buyers too and compete for value.

Because the code on which all the cryptos are based is not bug free. And since most of the coins are a copy of either bitcoin or litecoin they will most likely contain the same bugs as found in bitcoin and litecoin.

Most of the devs of the 'new' coins have no clue how the whole of the system functions so they will need to follow the bug fixes from the coins with larger dev communities so their coin does not get destroyed by known vulnerabilities.

[baritus]

you sound like a butthurt little girl who got left holding a bag of worthless coins? Am I right lol?

Bitcoiner's main crypto currency investments seem to be Bitcoin and Litecoin from what I can tell. Litecoin has gone from $0.04 to $2.65 in a year, and Bitcoin has gone from $5.00 to $120 in a year. So I'd say the last thing he's doing is holding a worthless bag of coins.

He might be a bit trollish about his antics proving other coins are just copy cats and get rich quick schemes/pump and dumps, but he does have a point. Copy cat coins don't provide the cryptocoin ecosystem with any extra advantages that crypto users can't already do.

In fact, the copy cat cryptocoins weaken the entire cryptocoin community by diverting developers and community support. Imagine if all the developers that are working on things for ALTs were all developing things for Bitcoin and Litecoin. There would be so many new services and exciting things that everyone could benefit from and wouldnt have to own X coin or Y coin or Z coin.

In summary, a new ALT coin is only useful and only benefits the community if it is innovative. As far as just changing a few parameters, that's not innovative. People have been doing it for years.

Oh really, why not improve the whole world using this amazing discovery?

All governments perform pretty much the same function, so why don't we just have one government?

Actually, all people are pretty similar, and wouldn't it be better if we just had the first one that proves he can be a leader as our leader forever. It would be so much better if everyone just backed one guy with all their taxes and lives.

While we're at it, why don't we optimize our health care system too according to this amazing theory? If we find a drug that cures a disease after a month, why don't we all just back the usage of that drug? Why waist all the money to develop new drugs if all that's better is a speed difference? Why bother to push the limits when it works just fine? Or maybe we'll develop one that's just a tiny bit faster, and stick to two. Yes, two sound like the perfect number. No more improvement needed.

Why do we even have brands that sell similar stuff? Let us get rid of them all and just have one big brand that we can all support and it would be able to provide us all with such amazing benefits. Everyone knows monopolies are the best thing for everyone.



P.S. Some people on this forum are a disgrace to decentralization.

[mat5x]

I dont quite get why we're splitting religions here so harshly. Can we start a civil war over it?

Anyway, I think external not internal factors will decide which coin wins. What those factors are are up in the air, but two big factors that will likely play a part are Wall St, and the US Govt. It's already started.

Stay tuned.

[BitshireHashaway]

This forum is for alt-coins... if you don't like them why do you come here and post?

[CoinHoarder]

Oh really, why not improve the whole world using this amazing discovery?

All governments perform pretty much the same function, so why don't we just have one government?

Actually, all people are pretty similar, and wouldn't it be better if we just had the first one that proves he can be a leader as our leader forever. It would be so much better if everyone just backed one guy with all their taxes and lives.

While we're at it, why don't we optimize our health care system too according to this amazing theory? If we find a drug that cures a disease after a month, why don't we all just back the usage of that drug? Why waist all the money to develop new drugs if all that's better is a speed difference? Why bother to push the limits when it works just fine? Or maybe we'll develop one that's just a tiny bit faster, and stick to two. Yes, two sound like the perfect number. No more improvement needed.

Why do we even have brands that sell similar stuff? Let us get rid of them all and just have one big brand that we can all support and it would be able to provide us all with such amazing benefits. Everyone knows monopolies are the best thing for everyone.

I get your point. However, you are relating real world problems/situations that have nothing to do with decentralized currencies. I do agree there is room for more than one or a few crypto currencies. However most of the new ALT coins, like your coin Digicoin, people only changed a few variables from Litecoin and called it a day. We already have a bunch of copy cat coins, we don't need anymore. I even consider Litecoin for the most part a copy cat coin, however at the time it was created there wasn't 50 ALT coins being released a month, allowing a large community to grow around it and adopt it. I support Litecoin because of this community.

I prefer to see more innovation than what the new coins provide to support an ALT coin, and I know most people that have been around the forums for a while feel the same way. Most of these coins will die a slow death because innovative coins will come along and people will forget about most of the new ALT coins. Bitcoin and Litecoin will stay around for a long time even if better coins are released because of their time on the market and the huge communities that support, develop, and improve them. Also, many more people are invested into both Bitcoin and Litecoin, so there is incentive for that improvement to continue.

These new coins all have many different factions of small communities of enthusiasts that improve their coins, which pale in comparison to the Bitcoin/Litecoin communities. This will ultimately work against each other, as many small groups of people can only accomplish so much, compared to a much larger group of people striving for the same goals.

Again, I don't mind new coins but I want innovative coins. There are so many projects of truly unique coins and great ideas that are being developed. Why should I support all these new copy and past coins when there are much more innovative coins being developed/about to be released. Coins that will truly change the crypto currency ecosystem, not just a few variables changed.

P.S. Some people on this forum are a disgrace to decentralization.

This is silly, Bitcoin/Litecoin are as decentralized as crypto currencies get. Creating a new ALT coin doesn't make anything more or less decentralized. They are all decentralized inherently in each coin's code.

And you have to admit that creating more and more ALT coins with hardly any differences splits the developers and communities time spent working on useless ALTs, when they could be improving/creating something for the rest of the 98% of the cryptocoin community that don't use <insert random ALT coin here>. Everything that is developed for most of these new ALT coins I and most of the cryptocoin community will never use. Most of the cryptocoin community doesn't even use Litecoin.. only Bitcoin, so anything developed for a chain smaller than Litecoin is going to get a lot less use inherently because of the sizes of the communities.

[BlazinBeaches]

I'm waiting to hear the answer to this.  There isn't anything that any of these new alt coins offer that LTC/BTC can't copy if they work.  Please tell me how any of these alt coins are anything but an experiment for new ideas for LTC/BTC to take from if they work?  Anyone?

I have a new word for everyone here.

You aren't altcoiners you are "Lab rats"

Thanks for trying out new things for us.

Cheers!

It's hilarious some of you guys that come in here and trash alt coins.  That's idiotic because altcoins are more profitable to mine.  Who gives a damn if they are worth anything long term.  We're all here to make money and I'm making more money mining alts than I did with bitcoin.  And they are also ASIC resistant, at least for a while.  Don't get me wrong, we love bitcoin and we want the value of bitcoin to stay strong.  

If you're one of those guys that has 50Gh+ ASIC machines then I applaud you, if though you are mining bitcoin with video cards, that's just plain stupid.

[markm]

Well.. I didn't mean the developer abandoned the community, but that the community abandoned Tenebrix and then the developer stopped developing things for it.

I think if the premine was destroyedp for or put up for bounties, perhaps Tenebrix could become popular again... like a BBQ coin type of thing, but it is based on an ancient version of Bitcoin.  

It can be upgraded pretty darn easily to be based on a new version of Litecoin, based in turn on a recent version of bitcoin, once litecoin is updated.

Same for Fairbrix, which right now doesn't even have a daemon version.

-MarkM-

[fenican]

What can Firefox, Chrome, and IE do that Netscape could not?

The winner is not necessarily the product that came first but, rather, the one that the market, possibly irrationally, adopts

See VHS v/ Betamax.  VHS was actually inferior in many ways

[smilez]

Yacoin doesn't divert hashing power from bitcoin either.

[moody123]

okay here's the test. Totally remove yourself from being invested or having your feeling about different crypto coins. Pretend none of them are established yet, 2 will have high value, they all start at $1 in value, and you have no idea what anyone else would pick. What 2 coins would you invest in?

[anderl]

OP makes a weak argument.  What do any alt coins bring that BTC or LTC can't replicate.  

This is a weak argument because BTC and or LTC will not implement the changes, it would be too disruptive to the existing value of the respective currencies.  Many of the developers are financially invested in the coins themselves and would not implement a feature that would risk the loss of value.  As a result BTC and LTC will not implement any changes and even if the decision was made to do so it would be a slow and gradual implementation over several years.  The goose is laying golden eggs.

[markm]

okay here's the test. Totally remove yourself from being invested or having your feeling about different crypto coins. Pretend none of them are established yet, 2 will have high value, they all start at $1 in value, and you have no idea what anyone else would pick. What 2 coins would you invest in?

Heh, coins that started at $1 per coin in value include CDN, GMC, GRF and UNS; UKB started at about $1.5 or $1.4 or whatever, the dollars versus pounds ratio. MBC started at $5 or so, less than bitcoins were back then but more than the other national/corporate coins. Look at them now:

http://galaxies.mygamesonline.org/digitalisassets.html

The big problem of UKB and CDN was they kept trying to stay on par with GBP or CAD, respectively, by selling off coins cheap (so as not to go too high in value, that is, higher in value than GBP or CAD). The MBC folk tended to buy up those cheap UKB and CDN.

So maybe the coin to bet on is the one that buys up all the others whenever they are dirt cheap, because it will have huge amounts of all the others with which to keep its own price/value high...

(Hmm, so, does that maybe mean bet on bitcoin and litecoin? Or is there some other coin for which holders of the others habitually dump at dirt cheap prices?)

-MarkM-

[bitcoiners]

I'm waiting to hear the answer to this.  There isn't anything that any of these new alt coins offer that LTC/BTC can't copy if they work.  Please tell me how any of these alt coins are anything but an experiment for new ideas for LTC/BTC to take from if they work?  Anyone?

I have a new word for everyone here.

You aren't altcoiners you are "Lab rats"

Thanks for trying out new things for us.

Cheers!

hey just one question :

do you own a Cat ?

I am the cat.  I am eating all you lab rats one by one.