Coins of the second generation

[utopianfuture]

Bitcoin is the first cryptocoin. Many followers using the codes from Bitcoin with some modifications. They don't have enough diiferentiation from Bitcoin. But I think at this point it is apt to talk about the second generation of coins with additional features which are substantial enough to be considered the " second generation".

What do you think ? In my opinion:

first generation coins include:

Bitcoin, Litecoin, Peercoin, Primecoin, many more, even newly created ones belong to this group

second generation coins could include:

Mastercoin, NXT, Protoshares, Emunie

This should be debatable and I looking forward to hear your suggestions.

[raspcoin]

If by first generation you mean trusted and more or less accepted by the community, then your classification makes sense. You probably want to add Namecoin to that group, and possibly also Feathercoin.

[utopianfuture]

If by first generation you mean trusted and more or less accepted in the community, then your classification makes sense. You probably want to add Namecoin to that group, and possibly also Feathercoin.

I think the generation gap is mainly separated by technology, features and purposes. First generation coins do more and less the same thing. A coin can be considered "second generation" should be able to do more and and differentiated enough from the first generation coin. I would say all first generation coins such as litecoin, peercoin, feather coins etc., are more and less bitcoin clones. They all function and serve similar purpose and I don't think they would succeed in the long-term. 

But I don't think bitcoin is the end of the internet "commodity-currency" concepts. You should be able to send messages, vote and program your coin. Second generation coins should be able to do some of these. The future belongs to "smart" money.
 

[fruitbat]

I'm looking forward to the second generation, in fact I've registered here because I'm mostly interested in these new coins, although I'm finding that the straightforward means of investment in them is to get some BTC first.

Bitcoin and derivatives are basically similar to asset-backed currency(gold, etc.) with the big innovation being that it's both computerized and decentralized; this is a pretty good starting point, but it means bitcoin will only be "as good as" gold, not better. At the core what I think really matters in any future crypto is whether it is producing fair and sustainable economic outcomes for its users. To make changes in that, you have to reevaluate how wealth redistributes over time within a currency, which in turn means that the philosophies behind cryptocurrency will start changing to encompass a much broader range of economic thought than the extant anarcho-capitalist/goldbug types.

And the 2G coins are taking little steps away from the Bitcoin model; Mastercoin is all about derivatives trading, eMunie automatically manages a target inflation rate, and Nxt has no mining. The additional features baked on top of them sweeten the deal. There are reasons to believe that all of these different approaches could have success, and I plan to back up my statement with some speculative investment among them. Personally I see there being a reason to have different currencies for different purposes, rather than "one to rule them all."

[MicroGuy]

What do you think ?

In Satoshi's last and final post before abandoning Bitcoin and running off with well over 1 million Bitcoins, he said "there are still more ways to attack us than I can count". Bye, LOL.

Well our development team has been working feverishly to solve the riddle that drove Satoshi underground. This announcement was just made privately on our forum a few hours ago: https://www.gldtalk.org/index.php?topic=1748.0

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[pand70]

What do you think ?

In Satoshi's last and final post before abandoning Bitcoin and running off with well over 1 million Bitcoins, he said "there are still more ways to attack us that I can count". Bye, LOL.

Seriously? Your way to promote your altcoin is to talk shit about satoshi? Good luck with that 

[MicroGuy]

What do you think ?

In Satoshi's last and final post before abandoning Bitcoin and running off with well over 1 million Bitcoins, he said "there are still more ways to attack us that I can count". Bye, LOL.

Seriously? Your way to promote your altcoin is to talk shit about satoshi? Good luck with that  

How is speaking truth talking shit?  

https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts;start=0

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(BTW: If you had watched the video, you would have known that I'm Satoshi's drunk uncle.)  

[pand70]

What do you mean by running off with over 1m bitcoins. His bitcoins are intact for years.

[cycoinminer]

I'm personally just getting into mining (got my G9 290 setup arriving next week!)
However I've done a bit of reading on NXT these last few hours and it's certainly something I'd like to invest in once I get some coin under my belt (you can't mine these puppies!)
The only major issue I see, is that your "wallet" cab be brute force hacked - with no way of changing the password. So, if like me, you made your account with a limited digit password it's easily hackable, and the fact that you can't change the account password afterwards, to me, seems an obvious design oversight.
Yes, there's nothing to stop you opening a 2nd account, using a much better password and transferring the balance from the weak account to the strong account, but I would have thought this was an unnecessary extra step?