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December 30, 2013, 07:09:17 AM |
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From the little I've read about Velocity coin, it does appear to be yet another "me too" clone, but contrary to what a couple folks have said, that does not mean there is not still plenty of space for new altcoins, IMO.
But, they must bring a new innovation to the table. Litecoin brought a mining system more resistant to monopolization by ASICS. Peercoin brought proof of stake as an alternate way to keep enough clients online to ensure the integrity of the system once it has been mined out.
As the most well known with the biggest network effect behind it, Bitcoin is likely to remain number one for the forseeable future (Again, IMO), but it is not a bad thing to see other coins being introduced.
Sure, some will be scams, some will be get rich quick schemes, some will be well intentioned bad ideas, and some will just be unnecessary clutter. At some point, however, one will offer enough compelling improvements to cause a groundswell of change. It is the nature of innovation.
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