The Impact of Alternate Cryptocurrencies

[wobber]

We had ixcoin and i0coin that are dead now. Many people lost money after they bought this coins with Bitcoin.  How this impacted bitcoin's price, if it did?

Also we now have Tenebrix and Solidcoin 2.0 in a few days. Will people move their assets to a better coin, like SC2 claims to be, or they'll generate the CPU-friendly one?

[Bigpiggy01]

SC might or might not be a better coin, if it gains more acceptance that's just good for everyone as both it and btc have pluses and minuses. As a payment tool it's rapid confirmations are more attractive but it's forever going to be seen as "the clone/ cheap knock off" (essentially a problem for all new blockchain coins.

Tenebrix is more or less meant as a "laundry" at least from the way I read everything on it, If it does end up with a fair amount of value from providing this service then mining rigs might start getting built with massive CPUs as well as a ton of gpus. Furthermore it's extremely botnet friendly which might make a few nerfherders switch from mining bitcoins giving us less bad press on that count or it could just mean that a few peeps get greedy and try to feed from both teats at once.

Overall I think they might actually be good for bitcoin. If something is so good that others copy it, it can't be all bad.

[grod]

SC is dead before it launched.  It has too many drawbacks.

Now, the first alt currency I like and will probably speculate long on is "litecoin."  It's like bitcoin, but using a CPU friendly algorithm.  And without a ridiculous premine amount.  It's intended to be the silver to bitcoin's gold and IMO it's the first alt chain with a shot of making it.

As far as impact?  Short term positive, long term neutral.  To speculate on the various shitcoins people need to buy up bitcoins.  Those 2000 bitcoins up on the bid on btce are not in circulation, so every alt chain to come along is a slight, imperceptible boost to bitcoin price.

At least until that chain collapses.

[bulanula]

SC is dead before it launched.  It has too many drawbacks.

Now, the first alt currency I like and will probably speculate long on is "litecoin."  It's like bitcoin, but using a CPU friendly algorithm.  And without a ridiculous premine amount.  It's intended to be the silver to bitcoin's gold and IMO it's the first alt chain with a shot of making it.

As far as impact?  Short term positive, long term neutral.  To speculate on the various shitcoins people need to buy up bitcoins.  Those 2000 bitcoins up on the bid on btce are not in circulation, so every alt chain to come along is a slight, imperceptible boost to bitcoin price.

At least until that chain collapses.

Care to backup your points ? I think SC2 is great and Litecoin is crap.

[grod]

You also think Belarus is part of Japan, you're barely literate, and think an i7 performing differently on a computing workload than six core phenom is some sort of conspiracy. 

You're welcome to your opinion.  I'll stick with mine.

[eldentyrell]

or they'll generate the CPU-friendly one?

There are no "CPU-friendly" cryptocurrencies; this is a dangerous misunderstanding.

[panerai]

im mining TBX. have mined 36 coins in 2 days with a few PC