Crypto Review - Cryptocurrency Analysis

[stereotype]

Sianote....https://bitcointalk.org/index.php?topic=591283.msg6486684#msg6486684

MGW.... https://nxtforum.org/nxtservices-releases/how-to-test-multigateway-with-nxtservices-a-test-user-guide/msg30994/#msg30994

[CoinHoarder]

Sianote....https://bitcointalk.org/index.php?topic=591283.msg6486684#msg6486684

MGW.... https://nxtforum.org/nxtservices-releases/how-to-test-multigateway-with-nxtservices-a-test-user-guide/msg30994/#msg30994

Thanks. I love the idea of Gateways making it easier to pay with alt coins.

Also, there are so many coins coming out that are focused on data storage that I need to comb through them and pick out the best of the best. It is getting to the point where that is no longer innovative IMO. If you see the list to be added, a large part of them have to do with decentralized data storage.

[stereotype]

Sianote....https://bitcointalk.org/index.php?topic=591283.msg6486684#msg6486684

MGW.... https://nxtforum.org/nxtservices-releases/how-to-test-multigateway-with-nxtservices-a-test-user-guide/msg30994/#msg30994

Thanks. I love the idea of Gateways making it easier to pay with alt coins.

Also, there are so many coins coming out that are focused on data storage that I need to comb through them and pick out the best of the best. It is getting to the point where that is no longer innovative IMO. If you see the list to be added, a large part of them have to do with decentralized data storage.

There are testers trying to break the soon to be released MGW, as i write. They welcome more testers, if anyone is interested.

I see what you mean re no longer innovative. I guess the innovation will be the subtle ways their own code works and gets implemented. 

[CoinHoarder]

Sianote....https://bitcointalk.org/index.php?topic=591283.msg6486684#msg6486684

MGW.... https://nxtforum.org/nxtservices-releases/how-to-test-multigateway-with-nxtservices-a-test-user-guide/msg30994/#msg30994

Thanks. I love the idea of Gateways making it easier to pay with alt coins.

Also, there are so many coins coming out that are focused on data storage that I need to comb through them and pick out the best of the best. It is getting to the point where that is no longer innovative IMO. If you see the list to be added, a large part of them have to do with decentralized data storage.

There are testers trying to break the soon to be released MGW, as i write. They welcome more testers, if anyone is interested.

I see what you mean re no longer innovative. I guess the innovation will be the subtle ways their own code works and gets implemented. 

There isn't really a working solution yet apart from MGW, so I guess I'd still consider it innovative.. but it is losing its edge. I think there are already enough projects focused on p2p data storage, and I hope new coins focus on other areas that are lacking.

[CoinHoarder]

All developers should take notes from this guy. Community feedback is essential to a crypto currency's success.

Also... he's doing it all without an IPO.

https://bitcointalk.org/index.php?topic=660544.0

[CoinHoarder]

Added the following on the coins to add list:

- Credits (decentralized crypto currency exchange)
- Cloak (decentralized crypto currency exchange)

I'd like to reiterate that this is not investment advice. I personally would not invest in probably 70%-90%+ of the coins on this list, I am not going to state which ones in an attempt to stay unbiased. This is meant as a resource for developers.

[CoinHoarder]

A few more interesting projects:

- Permacoin (PoW alternative- attempts to fix the waste of processing power in current PoW algorithms- distributed storage of archival data)
- Solarcoin (innovative distribution- 1 SolarCoin represents one MWh of solar energy generated. SolarCoin rewards solar electricity generators both large and small.)
- DNA.Bits (PoW alternative- attempts to fix the waste of processing power in current PoW algorithms- enables encoding and modeling medical and genetics data on digital wallets systems.)
- Syscoin (merge mined Scrypt coin- decentralized market place, data storage, asset exchange (stocks, bonds, etcetra)

[lovely89]

I love the incentive here but I think that CoinHoarder needs to stricken up his selection process. Seems a bit crowded and too many small 'innovations' here. I first came here because the coins were truly unique AND innovative and seemed as though they could serve a real purpose.

One I have been following for about 7 months, is Skycoin. It is written from scratch, addresses every problem bitcoin has, in detail. Introduces sidechains (for applications), has a scripting language and a new Obliesk proof of stake 'forging' algorithm. It also aims to construct a global meshnet/darknet by allowing people to share their resources for these coins.
https://bitcointalk.org/index.php?topic=380441.0

Another one that looks interesting, but time will tell, is nTx. It's a NXT clone but working on a concept call 'recasting', where all old blocks and their coins/assets etc are deleted after a certain amount of transactions. The coins can be kept if they are acknowledged and aliases are kept if a very small fee is paid. The whitepaper was poorly written and the code is still being worked on so that's all I could gather, but definitely innovate. Looks to solve the blockchain 'bloat' problem, which I think could be huge in, lets say 10 years, if micro transactions become huge.
https://bitcointalk.org/index.php?topic=625668

I think the selection process should be based on quality not quantity. It's your thread though and it's great so far, so keep it up!

[CoinHoarder]

I love the incentive here but I think that CoinHoarder needs to stricken up his selection process. Seems a bit crowded and too many small 'innovations' here. I first came here because the coins were truly unique AND innovative and seemed as though they could serve a real purpose.

One I have been following for about 7 months, is Skycoin. It is written from scratch, addresses every problem bitcoin has, in detail. Introduces sidechains (for applications), has a scripting language and a new Obliesk proof of stake 'forging' algorithm. It also aims to construct a global meshnet/darknet by allowing people to share their resources for these coins.
https://bitcointalk.org/index.php?topic=380441.0

Another one that looks interesting, but time will tell, is nTx. It's a NXT clone but working on a concept call 'recasting', where all old blocks and their coins/assets etc are deleted after a certain amount of transactions. The coins can be kept if they are acknowledged and aliases are kept if a very small fee is paid. The whitepaper was poorly written and the code is still being worked on so that's all I could gather, but definitely innovate. Looks to solve the blockchain 'bloat' problem, which I think could be huge in, lets say 10 years, if micro transactions become huge.
https://bitcointalk.org/index.php?topic=625668

I think the selection process should be based on quality not quantity. It's your thread though and it's great so far, so keep it up!

Thanks for the feedback.

I think the reason for that was when I started this thread it was investment advice at first. I then decided that I didn't really want to put myself out there like that and perhaps promote a scam or coin that may fail. I decided that this would just be a list of innovative coins for developers researching what has been done before and how they did it. I think still it is a good starting point for ALT coin investing though, as I think it will take an innovative coin to compete with the big boys.

Even the small innovations have their place I think. Small innovations can be combined with other innovations to create something great. If you see the link in my signature about a fairly released PoS coin.. this is what I mean.. I basically combined several innovations from different cryptos to create something that in my opinion would be the most fair PoS crypto release to date.

That being said.. I will try to trim the list a little bit. There are some projects (like eMunie) that are dead and those could definitely go. The problem is some coins are trying to do the same or similar things, but they are still new concepts and not fully developed yet. It is hard to tell which ones I should list and which ones I should not, so I have been listing them all... IE. I have no idea out of the 3-4 decentralized data storage projects will be the most easy to use/have the most utility/be the most successful/etc.

The same could be said for all the "ASIC resistant", PoS variations, anonymous transaction coins, PoW coins to solve wasted processing power, etcetra.

Any suggestions as to that?

Thanks for suggesting those cryptos, I'll take a look.

[reRaise]

quark implemented random hashing as well as the first, any other cryptos with random hashing?

[CoinHoarder]

quark implemented random hashing as well as the first, any other cryptos with random hashing?

There are probably others.. I can't keep up. 

[CoinHoarder]

Updates:
- Deleted the "News" sections for each coin, as I don't have the time to update it.
- Changed Zerocoin to Zerocash, updated links and description
- Updated YACoin links and description

More updates to come today. Planning on fixing/updating all links and descriptions & adding some of the crypto currencies on the "to be added at a later date" list.

For now, it is coffee/breakfast time.

[CoinHoarder]

Updates:
- This thread has mostly been me talking to myself.... in an attempt to incite debate, I decided to get off the fence and spice things up a bit.
- At the end of each coin's description I will give my honest opinion on whether I would buy or sell the coin, and why the innovation that makes the coin special is important or innovative. Remember this is still not investment advice, I added this merely to incite debate.
- eMunie has been removed from the list.. the project seems dead and/or like it was a scam.
- Updated links and description for USC.. it seems like the developer is MIA and the coin is somewhat dead. There are now other merge mined Scrypt coins if you are interested, but I will keep USC on the list as it was the first one to do so and earned its spot in crypto currency history.
- Updated links and the descriptions for Primecoin and Peercoin, added my opinion
- Updated the links and description for Nxt, added my opinion

I still am in the process of updating coins A-N, as well as adding some new ones today.

[digitalindustry]

Good list:

who invented "Coin control"  ?

that is a significant innovation also -

Please add :

EQ reward or " trickle inflation" if you like .

for SIF and QUARK.

SIF did it in a crude way and Quark refined it.  

[CoinHoarder]

Good list:

who invented "Coin control"  ?

that is a significant innovation also -

Please add :

EQ reward or " trickle inflation" if you like .

for SIF and QUARK.

SIF did it in a crude way and Quark refined it.  

Thanks.. I am trying to get everything updated today.

Coin Control was a Bitcoin innovation. I guess I need to add Bitcoin to the list, but I guess I assumed that one is obvious since we are all on a Bitcoin forum!!!

Quark was already on my list to be added, but for other reasons. I will look into trickle inflation.

[digitalindustry]

Good list:

who invented "Coin control"  ?

that is a significant innovation also -

Please add :

EQ reward or " trickle inflation" if you like .

for SIF and QUARK.

SIF did it in a crude way and Quark refined it.  

Thanks.. I am trying to get everything updated today.

Coin Control was a Bitcoin innovation. I guess I need to add Bitcoin to the list, but I guess I assumed that one is obvious since we are all on a Bitcoin forum!!!

Quark was already on my list to be added, but for other reasons. I will look into trickle inflation.

so "coin control" common in PoS crypto was a Bitcoin innovation?

oh i see it was designed for "dust" right?

[CoinHoarder]

Good list:

who invented "Coin control"  ?

that is a significant innovation also -

Please add :

EQ reward or " trickle inflation" if you like .

for SIF and QUARK.

SIF did it in a crude way and Quark refined it.  

Thanks.. I am trying to get everything updated today.

Coin Control was a Bitcoin innovation. I guess I need to add Bitcoin to the list, but I guess I assumed that one is obvious since we are all on a Bitcoin forum!!!

Quark was already on my list to be added, but for other reasons. I will look into trickle inflation.

so "coin control" common in PoS crypto was a Bitcoin innovation?

oh i see it was designed for "dust" right?

I don't think it helps with dust, but the mini block chain project helps with dust. I actually just noticed they released their first implementation of it.. Cryptonite. It looks pretty neat, they added several other innovative features as well.. check it out: http://cryptonite.info/

I just added Cryptonite to the list in the OP and removed the mini block chain project.

Before Coin Control, when you sent bitcoins to someone else, the bitcoin client chose kind of randomly which of your addresses will send the coins. With coin control you can choose exactly which of your addresses will be the sending addresses, and even more specific which of your unspent outputs will be the sending inputs.

It just gives users more control over their Bitcoins. I believe the first implementation of it was in the alternative Bitcoin client "Bitcoin OMG" developed by Warren Togami here: https://bitcointalk.org/index.php?topic=320695.0 and possibly in the Litecoin beta release around that time as well. But, the idea was first thought of here on the Bitcoin forums: https://bitcointalk.org/index.php?topic=144331.0

[digitalindustry]

thanks for all the info !

great!

[CoinHoarder]

thanks for all the info !

great!

No problem

---------------------

Well, I am done updating links and descriptions to all crypto currencies that were on the list. Here's an overview in case you haven't read today's posts:

- I changed the mini block chain project to Cryptonite. I am excited where that project is headed and with their original innovations.. I think it is definitely a coin to keep an eye on.
- I removed eMunie from the list.. it seems rather dead and/or like it was a scam. If anything changes I can easily just add it back on the list, but for now it seems dead.
- I changed Zerocoin to Zerocash
- I updated all links and descriptions
- I also added my opinion if I would buy/hold or sell each crypto currency. I am interested in your opinions if I got these right or wrong. I feel like I may have said "buy/hold" too often. Please please please give me your opinion if you think I should reconsider my opinion.

What do you guys think?

I'm going to try to add one or two on the "coins to add" list from here on out until I can get caught up. I may add a few as early as tonight.

Cheers!

[CoinHoarder]

Why Innovation Is Equally As Important As Marketing And Why I Became A Litecoin Bear

The Litecoin community and I largely disagreed on the importance of innovation as they mainly want to focus on marketing, rather than improving crypto currencies on a developmental level and in an innovative manner. Basically, they are content blindly following anything that Bitcoin implements with the few developers they have, and the rest of the community is dead set on marketing and merchant adoption as the path to success for Litecoin. I think there are several problems with this line of thinking, and I will try to explain why. Alternative crypto currencies are supposed to be the testing grounds for improvements upon existing crypto currencies and new features. If they are not doing either of these things, then I do not see the point of their existence and it screams of a get rich quick scheme. Any crypto currency that does neither of these things I consider to be a "pump and dump" and/or "scam coin."

Marketing and merchant adoption are important, but marketing and merchant adoption coupled with no innovation and development is akin to betting that people are sheeple. In Litecoin's case, they are betting that people will look past the lack of innovation and the fact it is pretty much a copy and paste coin. While I do not disagree that the vast majority of people in the world are sheeple in regards to problems with trusted third parties and FIAT, it is not these people that are adopting crypto currencies at this point in time. The sheeple are somewhat ignorant to the extreme need of crypto currencies and decentralized technologies. These people will come eventually when crypto currencies have already blown up, and are a vast improvement over the current financial system. It will happen naturally, not by some marketing scheme with an underlying code base that was copied off of some other crypto currency.

It is the free-thinkers (skeptics/non sheeple) that are in the process of adopting crypto currencies and decentralized technologies. These are the same people that will be doing the marketing and pushing merchant adoption. If the free-thinkers can look past your crypto currency’s marketing strategies and see that the underlying crypto currency is mainly a “pump and dump” and/or “scam coin” with no innovation or improvements over another larger already existing crypto currency, then how can they be expected to support it? How can they be expected to help with marketing and pushing merchant adoption, when they don’t believe in the underlying technology themselves?

I believe there are only two answers to that question in regards to alternative crypto currencies. The first being that the supporters of the alternative crypto currency are sheeple themselves, and the second being that the supporters of that crypto currency are only focused on one thing and that is making a profit by "pumping and dumping" at the expense of sheeple. Both answers to this question make me completely and utterly sick, and I do not think that Satoshi would approve either.

After much analysis and reading user’s opinions and thoughts in such crypto currency communities over the years, I have come to the conclusion that most of their community at this point in time falls under the latter answer to that question, which makes me even sicker when thinking about it. Crypto currencies are still in the early adopter phase. As I said earlier, it is mostly the free-thinkers that are adopting crypto currencies and decentralized technologies at this point in time, and I find it highly unlikely that the majority of these early adopters are sheeple. It is utterly shameful people are praying on sheeple for their own financial gain, and relying on “the greater fool theory” to fatten their wallets.

Again, this is why I left the Litecoin community. I realized that it is an either/or situation, and I was completely disgusted by it. Either I was surrounded by sheeple, or I was surrounded by cut throat free-thinkers preying on sheeple by the use of the “greater fool theory,” and either way I decided I wanted no part in it. There was an “ah ha” moment in which I decided Litecoin needed to be innovative and really focus on improving crypto currencies on a technical and developmental level, or the sad reality is that's just how it’s going to be and how it will always be as long as they continue down the same path.

I am a big believer in an altered quote from a corny 90s movie named “The Field of Dreams” in regards to crypto currency adoption, “if you build it they will come.” If you stop and think about it for a second, this is exactly what Satoshi did with Bitcoin, and look at how far Bitcoin has come today. If a crypto currency is innovative enough and a vast improvement over prior crypto currencies, the users and merchants will come eventually. Now and in the near term future, as a crypto currency community… the free-thinkers and early adopters… we should mostly focus on improving crypto currencies the best way possible through innovation and development.

Sadly, I think Bitcoin and Litecoin have mainly gotten off the path that Satoshi paved which was focused on innovation and development, and adoption happening naturally instead of forced upon people. A large part of their community has trouble seeing that both of these crypto currencies are not perfect and have flaws. Try bringing up the flaws of Bitcoin in the General Discussion sub forum and see the kind of hostility and ignorance you are met with. This kind of group think is poison, and it affects the improvement of crypto currencies on an innovative and developmental level, and will only slow down the improvement of crypto currencies. They are not in a large way focusing on implementing new features, improving existing features, and openly talking about flaws of their respective crypto currency.

Doubly sadly, I think most of this group thinking stems from greed. They do not want to talk about the flaws of Bitcoin/Litecoin, and they brush everything off as FUD or “scam coins gonna scam coin.” When in reality they are the ones that are doing the scamming, as they are so worried about fattening their pockets, that they stifle innovation and development. In general, they are so worried that if someone reads a genuine concern about a flaw or short coming about Bitcoin/Litecoin and believes it, that that someone will not invest in the crypto currency they have invested in. This affects the size to which their pockets can fatten, they do not like this one bit, and they make every attempt to shut it down and label it as FUD.

Bitcoin already has a major focus on both merchant and new user adoption. This goes along with my "if you build it they will come theory," but I believe that there is a trickle down effect in Bitcoin's adoption that other alternative crypto currencies are rewarded from. After learning about Bitcoin, I think they will mostly realize that it is not perfect and how the community largely stifles innovation on the basis that there is nothing that needs to be changed. Once they come to this realization, the innovative alternative crypto currencies will benefit largely from this realization. I just think adoption will come naturally if your crypto currency is a vast improvement over Bitcoin and/or the current financial system, and it is not something that needs to be forced down people's throats as it will be met with skepticism and reluctance if done this way. I believe this kind of promotion is stifling the adoption of Bitcoin itself. The way people talk about it and try to force adoption onto people, it does kind of sound like a scam of some sort until people actually learn what Bitcoin is and how it works.

In summary, marketing and pushing for merchant adoption is important, but it is equally important to not succumb to greed and ignorance and to push the crypto currency and/or decentralized technology movement forward through innovation and development. I think all "copy cat" or "copy and paste" coins are destined to fail eventually. Even the innovative ones, if they don't stay vigilant in innovating and improving their original innovation will fall by the wayside. It is a very competitive market and those that aren't focused on innovating and improving their crypto currency will die a slow death. I applaud innovative crypto currencies for paving the path to the future of crypto currencies, a path that Satoshi started and a path that the larger crypto currency community seems to be wandering off of. Once that path is filled with great new useful features and vast improvements over old crypto currency features, the general public will flock to that path once they realize it is so much better than the government built overgrown bumpy pebble path they have been travelling down their entire lives.

After Thoughts:

I may of come across as very anti-marketing in this post, but I didn't necessarily mean it that way. Mainly my problem is not with the marketing of crypto currencies, my problem is with the marketing of crypto currencies that are not innovating and improving upon Bitcoin. I liken the marketing of "copy and paste" coins to scamming via the greater fool theory. As long as a crypto currency is innovative and is in the process of innovating and as long as you continue to do this, then I don't really see any problem with marketing yourselves. Just don't try to shove it down people's throats, as then it is met with skepticism and reluctance, as it will seem like some sort of scam at first glance until they make the effort to learn what your crypto currency is all about.