So Ive seen many people comment on there being "trash coin' put into the market.
I dont think people understand the beauty of what this could do. I created a coin (and paid for the full version) for the followign purpose:
I own a RP Sim on Second LIfe. The biggest issue is to being able to reward active roleplayers without openong myself to the "linden miners" who use repeating gestures to try to cheat the system.
Creating a virtual currency is one solution, though I could just "create" it on paper.. but then it holds no intricate value. So I create a bitcoin clone using this service, which means my "virtual currency" now has a limit to how much can exist. (a good way to keep inflation from taking effect)
Since I then can set everything on the sim to require this new coin for rentals and such, i can set the value of 1 coin to SL Lindens. Immediately my coins have a value, even if it is one ive set myself, and used in a limited circumstance. Now, those who rp on the sim have an incentive to use the coin, and to mine more of their own, as mining it woudl equal free rentals for them. I could also take bitcoin in payment flor some of this currency to be used on the sim.
So now, you got a created coin, with a created market for that coin, with a value set.
So, what happens if my sim becomes very large and popular? Enough users of the coin means it would be listed on the exchange, meaning then the value of the coin will be floated
If it doesn't become popular? I still have an internal currency system that doesn't affect the greater alt-coin network.
Now, for you ingenious people.. extend that to apps for phone, or face book.
Imagine creating a game where the "premium" currency used to get items (you know, the stuff you normally have to pay real cash for) is this alt-coin YOU created, that people can spend bit coin or cash to purchase. Imagine if your game becomes so popular, that people wanted to trade that on the markets.
Just how much you think a company like zynga could make if they created their own alt-coin that people could mine and use, that could be used to purchase premium items in their games, JUSt on the trading market?
Some things to think about before you talk about this service only able to create trash coins
