What will happen to your favorite alt-coin?

[rampalija]

The wealth is not in the "printed money" you are missing the point. The wealth is in the company that invests its time in the coin, and the people that will work for the coin.

Mmm.  Maybe.

That sounds a lot like the alternative local currency movement-- create a local currency that somehow expresses the local community's values.

I'm probably just a too-logical, cold-hearted geek, but building community around a currency doesn't strike a chord with me. To me, community is about people, and a currency is just a tool for transactions. I guess an analogy would be a bunch of carpenters who build a community around some Extra Special brand of nails that they create and trade amongst themselves.

How that can be alternactive when BTC price is fluctuating crazy, now 150 nex day 220 then again 170

[haightst]

The wealth is not in the "printed money" you are missing the point. The wealth is in the company that invests its time in the coin, and the people that will work for the coin.

Mmm.  Maybe.

That sounds a lot like the alternative local currency movement-- create a local currency that somehow expresses the local community's values.

I'm probably just a too-logical, cold-hearted geek, but building community around a currency doesn't strike a chord with me. To me, community is about people, and a currency is just a tool for transactions. I guess an analogy would be a bunch of carpenters who build a community around some Extra Special brand of nails that they create and trade amongst themselves.

~and they build crosses to go with the nails? 

[ANiceJewishBoy]

The wealth is not in the "printed money" you are missing the point. The wealth is in the company that invests its time in the coin, and the people that will work for the coin.

Mmm.  Maybe.

That sounds a lot like the alternative local currency movement-- create a local currency that somehow expresses the local community's values.

I'm probably just a too-logical, cold-hearted geek, but building community around a currency doesn't strike a chord with me. To me, community is about people, and a currency is just a tool for transactions. I guess an analogy would be a bunch of carpenters who build a community around some Extra Special brand of nails that they create and trade amongst themselves.

There is still a point you are missing. The plan is not to have communities to pop up around coins, but coins to pop up in existing communities (groups, charities, companies, etc)

[tagbond]

And you know I am hoping to let people build those communities and use whatever coin they want.

[ANiceJewishBoy]

Basically, this will eventually replace:
Coupons
Gift Cards
Pay Checks or at least bonuses
Barter Point
Rewards Programs
Etc

[ANiceJewishBoy]

And when like 1/10 companies have their own coin, bitcoin will basically be used to buy anything you want. You just have to buy the coin that you can spend at the place you want to buy things.

And using wallet apps, people could buy things in person.

It's like when people lived in corporate town s and got paid money that only worked at corporate shops. Except we have the Internet, so we can all trade for what coins we want.

[ANiceJewishBoy]

If anyone would like to get paid for making coins, I suggest posting your email and price of development in this thread. But before you do that, look up the Devcoin code just so you can see the difference between it and a normal coin. It creates payment within a community, outside of mining.

[tagbond]

I have another idea for our TagCoin, or any crypto that is integrated with tagbond rewards. Because it is a digital representation on our wallet system, backed by the crypto that was deposited, anyway can give tips in the same way as Flatter, using buttons on a site to ask for instant donations. Faster than crypto wallets...I button press, enter the amount and it is done...it just shows up instantly in the other users wallet, and if he doesn't have one, one will be created automatically for them. Great for donations, anonymous or otherwise...

Any other ideas on this topic?..

[Tranz]

I'm still stuck on how y'all think altcoins create wealth. I don't see any of them being any easier to transact than Bitcoin.

I'll try to keep this short. 

I believe BTC protocol creates wealth because of the value it adds to the system. It allows for fast and cheap transfers world wide. It prevents a central authority from destroying the currency at it own whims.  It is a store of wealth.  Any of these things can be done with other services or instruments; PayPal, Gold, fiat. BTC just does it better.

Now enter Alts. If the alt adds nothing new to BTC it adds very little value. It does add some value, as it allows for the acquisition of BTC, from some other means, other then buying or mining BTC directly. Both of which can be difficult and expensive.

Alt Coins that add new features to BTC, add true wealth. Example Proof of Stake, which now allows for much higher energy efficiency of inflating a crypto. A big issue for BTC.   

Obviously some of these features could be added BTC, some maybe can not.

In short I think alt coins are a mixed bag. Creating one simply to pump and dump, is damaging to the system, but hey it is a free market. Creating ones to improve and enhance BTC is a good thing! IMHO...

[ANiceJewishBoy]

I'm still stuck on how y'all think altcoins create wealth. I don't see any of them being any easier to transact than Bitcoin.

I'll try to keep this short.  

I believe BTC protocol creates wealth because of the value it adds to the system. It allows for fast and cheap transfers world wide. It prevents a central authority from destroying the currency at it own whims.  It is a store of wealth.  Any of these things can be done with other services or instruments; PayPal, Gold, fiat. BTC just does it better.

Now enter Alts. If the alt adds nothing new to BTC it adds very little value. It does add some value, as it allows for the acquisition of BTC, from some other means, other then buying or mining BTC directly. Both of which can be difficult and expensive.

Alt Coins that add new features to BTC, add true wealth. Example Proof of Stake, which now allows for much higher energy efficiency of inflating a crypto. A big issue for BTC.  

Obviously some of these features could be added BTC, some maybe can not.

In short I think alt coins are a mixed bag. Creating one simply to pump and dump, is damaging to the system, but hey it is a free market. Creating ones to improve and enhance BTC is a good thing! IMHO...

Exactly. The current philosophy of "create coins for fun" but "mining is what we consider fun" can not last forever. Eventually people are going to realize that many of these coins have nothing supporting then except an [ANN] thread.

Coins should not be made to trade for bitcoin. Coins should be made to bridge the gap between bitcoin and the public.

[haightst]

If anyone would like to get paid for making coins, I suggest posting your email and price of development in this thread. But before you do that, look up the Devcoin code just so you can see the difference between it and a normal coin. It creates payment within a community, outside of mining.

Devcoin is a shoddy pos coin! lol

[haightst]

I have another idea for our TagCoin, or any crypto that is integrated with tagbond rewards. Because it is a digital representation on our wallet system, backed by the crypto that was deposited, anyway can give tips in the same way as Flatter, using buttons on a site to ask for instant donations. Faster than crypto wallets...I button press, enter the amount and it is done...it just shows up instantly in the other users wallet, and if he doesn't have one, one will be created automatically for them. Great for donations, anonymous or otherwise...

Any other ideas on this topic?..

I'm working on a forthcoming exchange type coin based in California ~New York ...spring 2014 full rollout! =)

[jdbtracker]

I write in a way that I can express my train of thoughts more precisely, and yeah I have read a lot of books.

I know there is a limited amount of true wealth in the world and that gets diluted by the number of active investments in the world.

Bitcoin has gained it's value by being magnitudes more efficient, and soon much better designed than the banking system that it will replace; This is why it is appreciating in value, the people see what it is worth and are rallying their economic power around it, they know it is better, too long has the technological potential of our minds been held back by ancient obsolete systems.

This is where Bitcoin is  getting it's wealth from, it's simply a better way of exchaning wealth.

The Alt-coins have limited potential simply because they are the same as Bitcoin, only small improvements or worse. The time and effort required to move to them would require another advantage that will have to be determined for that particular coin. It will gain a little wealth, but it must start at zero to assess it's value properly.

so I as well cannot determine where the wealth of these coins is coming from, A POW advantage can attract a specific type of person to complete the human challenges.

Devcoin is a great start, but it is definitely very badly executed, bad interface, limited scope for it's mission, not diverse enough, no place for it's members to congregate and exchange ideas more effectively, but someone will figure it out.

 

[haightst]

I'm still stuck on how y'all think altcoins create wealth. I don't see any of them being any easier to transact than Bitcoin.

I'll try to keep this short.  

I believe BTC protocol creates wealth because of the value it adds to the system. It allows for fast and cheap transfers world wide. It prevents a central authority from destroying the currency at it own whims.  It is a store of wealth.  Any of these things can be done with other services or instruments; PayPal, Gold, fiat. BTC just does it better.

Now enter Alts. If the alt adds nothing new to BTC it adds very little value. It does add some value, as it allows for the acquisition of BTC, from some other means, other then buying or mining BTC directly. Both of which can be difficult and expensive.

Alt Coins that add new features to BTC, add true wealth. Example Proof of Stake, which now allows for much higher energy efficiency of inflating a crypto. A big issue for BTC.  

Obviously some of these features could be added BTC, some maybe can not.

In short I think alt coins are a mixed bag. Creating one simply to pump and dump, is damaging to the system, but hey it is a free market. Creating ones to improve and enhance BTC is a good thing! IMHO...

Exactly. The current philosophy of "create coins for fun" but "mining is what we consider fun" can not last forever. Eventually people are going to realize that many of these coins have nothing supporting then except an [ANN] thread.

Coins should not be made to trade for bitcoin. Coins should be made to bridge the gap between bitcoin and the public.

it's called cryptsy my dude,,, use it wisely! 

[haightst]

I write in a way that I can express my train of thoughts more precisely, and yeah I have read a lot of books.

I know there is a limited amount of true wealth in the world and that gets diluted by the number of active investments in the world.

Bitcoin has gained it's value by being magnitudes more efficient, and soon much better designed than the banking system that it will replace; This is why it is appreciating in value, the people see what it is worth and are rallying their economic power around it, they know it is better, too long has the technological potential of our minds been held back by ancient obsolete systems.

This is where Bitcoin is  getting it's wealth from, it's simply a better way of exchaning wealth.

The Alt-coins have limited potential simply because they are the same as Bitcoin, only small improvements or worse. The time and effort required to move to them would require another advantage that will have to be determined for that particular coin. It will gain a little wealth, but it must start at zero to assess it's value properly.

so I as well cannot determine where the wealth of these coins is coming from, A POW advantage can attract a specific type of person to complete the human challenges.

Devcoin is a great start, but it is definitely very badly executed, bad interface, limited scope for it's mission, not diverse enough, no place for it's members to congregate and exchange ideas more effectively, but someone will figure it out.

 

re:

" I as well cannot determine where the wealth of these coins is coming from, "


what name is supporting it? MST i'm buying all basing on a legal issue with MSC devs , two coins with the same name!  wwhattt?

[ANiceJewishBoy]

I'm still stuck on how y'all think altcoins create wealth. I don't see any of them being any easier to transact than Bitcoin.

I'll try to keep this short.  

I believe BTC protocol creates wealth because of the value it adds to the system. It allows for fast and cheap transfers world wide. It prevents a central authority from destroying the currency at it own whims.  It is a store of wealth.  Any of these things can be done with other services or instruments; PayPal, Gold, fiat. BTC just does it better.

Now enter Alts. If the alt adds nothing new to BTC it adds very little value. It does add some value, as it allows for the acquisition of BTC, from some other means, other then buying or mining BTC directly. Both of which can be difficult and expensive.

Alt Coins that add new features to BTC, add true wealth. Example Proof of Stake, which now allows for much higher energy efficiency of inflating a crypto. A big issue for BTC.  

Obviously some of these features could be added BTC, some maybe can not.

In short I think alt coins are a mixed bag. Creating one simply to pump and dump, is damaging to the system, but hey it is a free market. Creating ones to improve and enhance BTC is a good thing! IMHO...

Exactly. The current philosophy of "create coins for fun" but "mining is what we consider fun" can not last forever. Eventually people are going to realize that many of these coins have nothing supporting then except an [ANN] thread.

Coins should not be made to trade for bitcoin. Coins should be made to bridge the gap between bitcoin and the public.

it's called cryptsy my dude,,, use it wisely! 

How do you earn coins with crypsty, without already having coins?

[ANiceJewishBoy]

I write in a way that I can express my train of thoughts more precisely, and yeah I have read a lot of books.

I know there is a limited amount of true wealth in the world and that gets diluted by the number of active investments in the world.

Bitcoin has gained it's value by being magnitudes more efficient, and soon much better designed than the banking system that it will replace; This is why it is appreciating in value, the people see what it is worth and are rallying their economic power around it, they know it is better, too long has the technological potential of our minds been held back by ancient obsolete systems.

This is where Bitcoin is  getting it's wealth from, it's simply a better way of exchaning wealth.

The Alt-coins have limited potential simply because they are the same as Bitcoin, only small improvements or worse. The time and effort required to move to them would require another advantage that will have to be determined for that particular coin. It will gain a little wealth, but it must start at zero to assess it's value properly.

so I as well cannot determine where the wealth of these coins is coming from, A POW advantage can attract a specific type of person to complete the human challenges.

Devcoin is a great start, but it is definitely very badly executed, bad interface, limited scope for it's mission, not diverse enough, no place for it's members to congregate and exchange ideas more effectively, but someone will figure it out.

 

I tried to talk the Devcoin community into doing some of these things when I first started writing for devtome, they told me they don't have the money to solve those problems though. And they won't until people see the good it can do.

[jdbtracker]

OP

Devcoin is a very decentralized system, I have been observing it for a while now.

I have noticed that for things to move forward there are different people in charge in different places.
The website is managed by one person, the registration by another, etc. It promotes diversity by asking for others to show some initiative in creating something better, but even getting added to the list of Devcoins recipients needs to be changed.

If someone cannot create a website or a system for rating, promoting, more content to distribute Devcoins to, it will die without a doubt. There must be an easier way to get signed up to the Devcoin distribution list if one is not a writer. Someone may have to create a Micro-coin to be able to distribute coins to musicians and painters, with the accompanying website or app for sharing their creations easily to be added to their running tally.

[ANiceJewishBoy]

OP

Devcoin is a very decentralized system, I have been observing it for a while now.

I have noticed that for things to move forward there are different people in charge in different places.
The website is managed by one person, the registration by another, etc. It promotes diversity by asking for others to show some initiative in creating something better, but even getting added to the list of Devcoins recipients needs to be changed.

If someone cannot create a website or a system for rating, promoting, more content to distribute Devcoins to, it will die without a doubt. There must be an easier way to get signed up to the Devcoin distribution list if one is not a writer. Someone may have to create a Micro-coin to be able to distribute coins to musicians and painters, with the accompanying website or app for sharing their creations easily to be added to their running tally.

This is exactly what I am saying. I suggested they accept other languages, and pay people to be translators and they said they just don't have the staff for that. And I suggesting adding systems to pay people for movie, book and game reviews as well as videos and art, and they said they just don't have the support.

Devtome needs MORE writers doing MORE things, so people can see the use of the system.

[jdbtracker]

But will they be able to pull together in time? I have noticed several mentions to limiting the number of writers because of the shares, but that diversification is necessary for upward movement at this point in time; They have hit rock bottom, almost, just 25 satoshi's to go.

other factors I've noticed is the lack of instructions to be a recipient of devcoins, they should be able to make affiliate websites for different developer communities. Knowing who to talk to, to link the community to Devcoin could save it... I am sure there are many communities out there who would like a creative incentive system. But of course we suffer from, not I, we will wait till someone does.