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Author Topic: If an altcoin were to overtake Bitcoin, which would it be?  (Read 5405 times)
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February 20, 2014, 06:11:16 AM
 #41

Threads like this are both amusing and irritating after a while. Dogecoin, Earthcoin, Litecoin, Goldcoin, or 'whatever coin someone is invested in' is what people will reply with. There is no logic behind any of their answers. Maybe Beecoin, Fckcoin and Sexcoin will overtake Bitcoin too?  

A better thread, IF people could answer honestly, would be a discussion of what coin could surpass litecoin as the 2d most popular crypto? That is doable. Surpassing bitcoin at this stage seems unlikely by any existing coin.

If you are a noob, you should be reading this below:


Poor pointed out a good case. I've been arguing much of the same, and that's why i rarely listen to people's advice on "What coin is going to be 1 hundred trillion dollars in 2 days"
And soon the list follows of whatever is popular or hyped up at the moment. I remember the last time one of these threads was posted, it was VERTCOIN vertcoin, VeRRRTcoin. Now, vert as pumped and dumped and people are moving onto the next big thing.


In reality noone knows. But if your a noobie, you should not be listening to any of this hype unless you know how to turn hype into a profit. Do not invest in coins you know nothing about.

There are 50 new alt-coins this month, and only about 2 or 3 are actually worth spending time and looking at. I've seen them all, i'm unimpressed.
Darkcoin is a good start for this thread, but no one has taken the time to explain why.





Basic Critera for a decent coin:


1) Active Development Team
2) Active Marketing Team
3) Technical advancements (not just a clone)
4) Community Support
5) Does the coin have all the necessities to be considered a coin for the masses?
6) What does the coin do differently

And the list can go on and on.. you get the point





Several other criteria can be listed here also, but this is a basic off of the top of my head guideline.

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February 20, 2014, 06:14:28 AM
 #42

Most likely Litecoin

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February 20, 2014, 06:20:29 AM
 #43

overtake it in what? price? 42 coin is already passed it, at $116k/coin.

Market cap? Devcoin, eventually.
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February 20, 2014, 06:25:31 AM
 #44

it is NXT!
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February 20, 2014, 06:27:38 AM
 #45

Betacoin and you should unite under a common network.
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February 20, 2014, 06:44:26 AM
 #46

NXT Vs. Bitcoin

Brainwallet Accessability
Bitcoin requires storing a digital file (the “wallet”) for use on only one computer. NXT allows knowing a short, ultrastrong password (35+ truly random characters) to access NXT funds from anywhere on Earth.

Network Simplicity
The Bitcoin network requires competitive Proof-of Work (PoW) GHash/sec mining using hi-cost, hi-energy, custom ASIC nodes.  The NXT network uses cooperative Proof-of-Stake (PoS) transparent forging between $35, 4W commodity Raspberry Pi nodes.

Transaction Rapidity
Bitcoin takes 10+ minutes per block for a max throughput of 7 transactions per second (TPS), currently using a 16GB (and growing) blockchain.  NXT currently takes 1 minute per block, with improvements in block timing speedup and routine chain pruning expected to support an eventual 1000 TPS.

True Anonymity
Bitcoin transactions between wallets are recorded forever on its blockchain.  NXT  achieves true transaction anonymity via the no-trust-needed zerocoin (testing now) / zerocash (coming soon) protocol developed at John Hopkins University.

Active Community
5000+ NXTers from 50+ countries are united in a vibrant online community.  We don’t just talk, we act.  We’re growing. Come join us!

NXT First 100 Days – WOW!

NXT’s genesis block was cast Nov 28, 2013.  Only 100 days later, by early March 2014, NXT has shown it’s more than “just a coin”.  A 2nd generation cryptocurrency written from the ground up in new Java code, NXT has rolled out numerous financial service capabilities that will revolutionize the crypto world – and more are coming!  As an alternative to long, complex transfer addresses, NXT offers a text “alias” registration system on its blockchain with over 60,000 registered in its first 100 days.  NXT has demonstrated a push-button interface for new altcoin creation atop its blockchain that allows ANYONE to create their own new coins, not just a limited  programmer priesthood.  Most significantly, NXT has a parallel testnet CURRENTLY TESTING crypto-signed peer-to-peer asset transfer and blockchain streaming asset quotes.  This unique capability offers an alternative to existing exchanges.  Don’t wait on next year’s teenaged ethereal dreams - join us on NXT Exchange TODAY!
  
Speaking of exchanges: almost a billion NXT has changed hands on numerous exchanges such as Dgex.com or Bter.com.  And Cryptsy is coming!  On Feb 8 Let’s Talk Bitcoin #82 at 13:30, “Big Vern” of Cryptsy commented: "[NXT] is not a cookie cutter coin…technical implementation [at Crypsy] is going to take a little more time...it's popular…it’s fair…I feel comfortable with [NXT].”

The NXT Bottom Line

1,000,000,000 genesis block NXT were  distributed to 73 founders who responded with a Bitcoin or less to a Bitcointalk [ANN] investment thread that was public and open for six weeks.  You could have been founder 74.  Now, with NXT only 100 days old, early mass distribution of “coins” from founders to users is still underway at exchanges like Dgex and Bter.  At this writing, NXT costs under 0.1 mBTC each.  Upcoming events which may drive that price higher include release of full open source code on April 4, inclusion of NXT on Cryptsy, announcement of new features, and an ongoing major advertising push by our Chinese members.

NXT doesn’t mine new coins – it forges (recycles) old ones.  NXT node operators (forgers, in the blacksmith sense of the term) use cheap CPU computers to receive transaction fees imbedded in any blocks they create and add to the NXT blockchain.    As a 100% Proof of Stake coin, forgers are selected to forge new blocks in proportion to the total NXT “coins” (or “stake”) they already own.  This results in a small return on investment proportional to your current holdings– like bank savings account interest.

NXT is not a mined, Bitcoin-based price-pop altcoin of the week.  NXT is creating a new financial ecosystem for use in coming years, based on cheap nodes for the common good.

NXT Is Green

Ecological?  Financial?  BOTH !!!

Bitcoin depends on a small mining node network fighting for their cut of  3600 newly minted Bitcoins per day.  The available daily operating budget to keep Bitcoin from freezing up is thus $3.6M or less (at $1K/BTC or under) to  generate the current 25 million GHash/s needed daily.  A representative miner “pickaxe” is a Butterfly Labs Monarch costing $2000 and using 350W of power to produce 600 GHash/sec. The current Bitcoin mining network has sunk unit infrastructure costs of at least $83 million and (at $0.10/KwH) ongoing electricity costs of at least $35,000 per day.  

Both costs are rising faster and faster. Exponential growth of Bitcoin’s hashrate (see blockchain.info/charts/hashrate) means mining rigs and energy use will skyrocket out of control, sooner rather than later.  Bitcoin and clones like Doge are by their very nature destined to fail.

NXT solves this problem sustainably.  By using cooperative transparent forging, not competitive gigahash mining, NXT does not have an exponential forcing function at its core that drives its costs and energy consumption ever higher.  A NXT blockchain support network of 1000 Odroid U3 nodes has a one-time unit infrastructure cost of only $60 thousand and uses only $48 per day in electricity – forever.  
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February 20, 2014, 06:48:37 AM
 #47

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Bitcoin depends on a small network of mining nodes who support their operations by generating a fixed profit of 3600 bitcoins per day.  The available daily operating budget to keep Bitcoin from freezing up is thus $3.6M or less (at $1K/BTC or under) to  generate the current 25 million GHash/s needed daily.  A representative miner “pickaxe” is a Butterfly Labs Monarch costing $2000 and using 350W of power to produce 600 GHash/sec. Thus the current Bitcoin mining network has sunk unit infrastructure costs of at least $83 million and (at $0.10/KwH) ongoing electricity costs of at least $35,000 per day.  

Both costs are rising faster and faster. Exponential growth of Bitcoin’s hashrate (see blockchain.info/charts/hashrate) means mining rigs and energy use will skyrocket out of control, sooner rather than later.  Bitcoin, and clones like Doge, are thus by their very nature destined to fail.

NXT is the sustainable solution to this problem.  By using cooperative transparent forging, not competitive gigahash mining, NXT does not have an exponential forcing function at its core that drives its costs and energy consumption ever higher.  A NXT blockchain support network of 1000 Odroid U3 nodes has a one-time unit infrastructure cost of only $60 thousand and uses only $48 per day in electricity – forever.


You should look into Quark. What you describe is exactly what Quark tried to solve and is pretty successful so far in their economic model and still keep it decentralized.

Quark stability has been pretty incredible.

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February 20, 2014, 06:52:09 AM
 #48

Its going to be Tittiecoin
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February 20, 2014, 07:20:01 AM
 #49

of course Nxt,but Nxt is not just a coin as we know but an ecosystem.
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February 20, 2014, 07:20:45 AM
 #50

Hasn't been released yet.

ShareCoin!  SfavKJ85onHh5vcHMagNHHMKMF25w9tpmp
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February 20, 2014, 07:38:25 AM
 #51

None. Some alt may get "close" to Bitcoin if it is collapsing. All alts will come down too.


 
 
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February 20, 2014, 07:47:31 AM
 #52

First Bitcoin must collapse, second a coin comes along with serious backing. Like US government coin if they were smart.

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February 20, 2014, 07:54:41 AM
 #53

Quote
Basic Critera for a decent coin:

1) Active Development Team
2) Active Marketing Team
3) Technical advancements (not just a clone)
4) Community Support
5) Does the coin have all the necessities to be considered a coin for the masses?
6) What does the coin do differently

And the list can go on and on.. you get the point

This is true without good support there is no dissent coin. Yes there are several altcoin that can someday only someday maybe suppress BTC but that is only maybe someday.

In this i mean litecoin, unobtanium, dogecoin, nxtcoin.



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February 20, 2014, 08:55:22 AM
 #54

Etherium is in the same park as NXT and Ripple. Average Joe will just not understand it. The only people who are really getting excited about these are the techies and investors. I can just about explain BTC to Joe Bloggs, but they wouldn't get these types of currencies at all. They fail because not because they aren't clever or unique or innovative, but because you have to be in the industry to understand them. Your average person on the street has no clue how fiat currency works. How can you expect them to understand Ether?

Dogecoin on the other hand, as ridiculous as it may be, has brought cryptocurrency to the masses. People get it. It doesn't matter how clever your platform is if you can't appeal to the lowest common denominator.

Bingo! You win. "Best post today" award if there were awards.



This is the exact problems I have had so far with Etherium, NXT and Ripple just too much trouble to use.

The general consumer just wants to go hey i get it and use it, maybe they are targeting different types of users.

This is the problem that all people will face, it is to demanding to understand how it works and how is different. But next and ripple are just scams, at least dogecoin who is also an inflationary coin doesn't promote devaluation and centralization as these 2 + they reach to the masses with a correct attitude. If you would understand that because of inflation and centralization of fiat the world economy is going down, would you buy into a altcoin that follows the same basic principles but has all sort of cool features? plus there is always the possibility of human error in the code, where as fiat is a piece of paper, it is or it isn't, very easy to evaluate if it is damaged, fake etc.

If you want people to use a altcoins as a base for money transactions, an altcoin must have enough of coins for everyone, must be super simple to understand, implement, trade, must be very transparent so that people can trust the developers and etc., must be catchy and not to be be considered as a commodity like precious metals etc.

The question is, how many coins fill these criteria?
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February 20, 2014, 08:59:49 AM
 #55

Etherium is in the same park as NXT and Ripple. Average Joe will just not understand it. The only people who are really getting excited about these are the techies and investors. I can just about explain BTC to Joe Bloggs, but they wouldn't get these types of currencies at all. They fail because not because they aren't clever or unique or innovative, but because you have to be in the industry to understand them. Your average person on the street has no clue how fiat currency works. How can you expect them to understand Ether?

Dogecoin on the other hand, as ridiculous as it may be, has brought cryptocurrency to the masses. People get it. It doesn't matter how clever your platform is if you can't appeal to the lowest common denominator.

Bingo! You win. "Best post today" award if there were awards.



This is the exact problems I have had so far with Etherium, NXT and Ripple just too much trouble to use.

The general consumer just wants to go hey i get it and use it, maybe they are targeting different types of users.

This is the problem that all people will face, it is to demanding to understand how it works and how is different. But next and ripple are just scams, at least dogecoin who is also an inflationary coin doesn't promote devaluation and centralization as these 2 + they reach to the masses with a correct attitude. If you would understand that because of inflation and centralization of fiat the world economy is going down, would you buy into a altcoin that follows the same basic principles but has all sort of cool features? plus there is always the possibility of human error in the code, where as fiat is a piece of paper, it is or it isn't, very easy to evaluate if it is damaged, fake etc.

If you want people to use a altcoins as a base for money transactions, an altcoin must have enough of coins for everyone, must be super simple to understand, implement, trade, must be very transparent so that people can trust the developers and etc., must be catchy and not to be be considered as a commodity like precious metals etc.

The question is, how many coins fill these criteria?


"at least dogecoin who is also an inflationary coin doesn't promote devaluation and centralization"

Really?  It doesn't lead to centralization?  lol

Do you know how PoW chains are secured?

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February 20, 2014, 09:27:53 AM
 #56

Etherium is in the same park as NXT and Ripple. Average Joe will just not understand it. The only people who are really getting excited about these are the techies and investors. I can just about explain BTC to Joe Bloggs, but they wouldn't get these types of currencies at all. They fail because not because they aren't clever or unique or innovative, but because you have to be in the industry to understand them. Your average person on the street has no clue how fiat currency works. How can you expect them to understand Ether?

Dogecoin on the other hand, as ridiculous as it may be, has brought cryptocurrency to the masses. People get it. It doesn't matter how clever your platform is if you can't appeal to the lowest common denominator.

Bingo! You win. "Best post today" award if there were awards.



This is the exact problems I have had so far with Etherium, NXT and Ripple just too much trouble to use.

The general consumer just wants to go hey i get it and use it, maybe they are targeting different types of users.

This is the problem that all people will face, it is to demanding to understand how it works and how is different. But next and ripple are just scams, at least dogecoin who is also an inflationary coin doesn't promote devaluation and centralization as these 2 + they reach to the masses with a correct attitude. If you would understand that because of inflation and centralization of fiat the world economy is going down, would you buy into a altcoin that follows the same basic principles but has all sort of cool features? plus there is always the possibility of human error in the code, where as fiat is a piece of paper, it is or it isn't, very easy to evaluate if it is damaged, fake etc.

If you want people to use a altcoins as a base for money transactions, an altcoin must have enough of coins for everyone, must be super simple to understand, implement, trade, must be very transparent so that people can trust the developers and etc., must be catchy and not to be be considered as a commodity like precious metals etc.

The question is, how many coins fill these criteria?


"at least dogecoin who is also an inflationary coin doesn't promote devaluation and centralization"

Really?  It doesn't lead to centralization?  lol

Do you know how PoW chains are secured?

I've talked bullshit, I know. I'm researching to find a better way of coin distribution. I don't like NXT because of this. What do you propose?
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February 20, 2014, 09:44:34 AM
 #57

Etherium is in the same park as NXT and Ripple. Average Joe will just not understand it. The only people who are really getting excited about these are the techies and investors. I can just about explain BTC to Joe Bloggs, but they wouldn't get these types of currencies at all. They fail because not because they aren't clever or unique or innovative, but because you have to be in the industry to understand them. Your average person on the street has no clue how fiat currency works. How can you expect them to understand Ether?

Dogecoin on the other hand, as ridiculous as it may be, has brought cryptocurrency to the masses. People get it. It doesn't matter how clever your platform is if you can't appeal to the lowest common denominator.

Bingo! You win. "Best post today" award if there were awards.



This is the exact problems I have had so far with Etherium, NXT and Ripple just too much trouble to use.

The general consumer just wants to go hey i get it and use it, maybe they are targeting different types of users.

This is the problem that all people will face, it is to demanding to understand how it works and how is different. But next and ripple are just scams, at least dogecoin who is also an inflationary coin doesn't promote devaluation and centralization as these 2 + they reach to the masses with a correct attitude. If you would understand that because of inflation and centralization of fiat the world economy is going down, would you buy into a altcoin that follows the same basic principles but has all sort of cool features? plus there is always the possibility of human error in the code, where as fiat is a piece of paper, it is or it isn't, very easy to evaluate if it is damaged, fake etc.

If you want people to use a altcoins as a base for money transactions, an altcoin must have enough of coins for everyone, must be super simple to understand, implement, trade, must be very transparent so that people can trust the developers and etc., must be catchy and not to be be considered as a commodity like precious metals etc.

The question is, how many coins fill these criteria?


"at least dogecoin who is also an inflationary coin doesn't promote devaluation and centralization"

Really?  It doesn't lead to centralization?  lol

Do you know how PoW chains are secured?

I've talked bullshit, I know. I'm researching to find a better way of coin distribution. I don't like NXT because of this. What do you propose?

Have you ever looked at how well bitcoin or LiteCoin are distributed currently? NXT currently has better distribution than both of them.
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February 20, 2014, 09:50:16 AM
 #58

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February 20, 2014, 09:51:58 AM
 #59

darkcoin is nothing

Darkcoin is one of the best coins there is from a technical standpoint.  It's only problem is that it's name and function may prohibit it to a small market cap labeled as a drug dealer coin or something.

That same quality might also elevate it to high market cap by the same users.  After all, Satoshi didn't invent Bitcoin.  Bitcoin was useless.  Ross Ulbricht invented Bitcoin.

Also, I'm not sure if people have rocks for brains in these threads because I rarely see anyone ever talking about economic models.  Many coins have identical models, some are a lot different.  Cashcoin probably has the best economic model I've seen on a coin so far.  If anyone thinks there's a better one, name it, because I haven't seen it.  

No, I don't consider Freicoin viable, because people have the freedom to choose something that will give them more profit, so why bother with that?

NXT Vs. Bitcoin

Quark and NXT shills get the fuck out.  Everyone is tired of reading your forum spam.  You will rarely see someone with high post count shilling for these coins.  It's always some 1 star poster paid to type this crap from Nigeria.

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February 20, 2014, 10:05:08 AM
 #60

Etherium is in the same park as NXT and Ripple. Average Joe will just not understand it. The only people who are really getting excited about these are the techies and investors. I can just about explain BTC to Joe Bloggs, but they wouldn't get these types of currencies at all. They fail because not because they aren't clever or unique or innovative, but because you have to be in the industry to understand them. Your average person on the street has no clue how fiat currency works. How can you expect them to understand Ether?

Dogecoin on the other hand, as ridiculous as it may be, has brought cryptocurrency to the masses. People get it. It doesn't matter how clever your platform is if you can't appeal to the lowest common denominator.

Bingo! You win. "Best post today" award if there were awards.



This is the exact problems I have had so far with Etherium, NXT and Ripple just too much trouble to use.

The general consumer just wants to go hey i get it and use it, maybe they are targeting different types of users.

This is the problem that all people will face, it is to demanding to understand how it works and how is different. But next and ripple are just scams, at least dogecoin who is also an inflationary coin doesn't promote devaluation and centralization as these 2 + they reach to the masses with a correct attitude. If you would understand that because of inflation and centralization of fiat the world economy is going down, would you buy into a altcoin that follows the same basic principles but has all sort of cool features? plus there is always the possibility of human error in the code, where as fiat is a piece of paper, it is or it isn't, very easy to evaluate if it is damaged, fake etc.

If you want people to use a altcoins as a base for money transactions, an altcoin must have enough of coins for everyone, must be super simple to understand, implement, trade, must be very transparent so that people can trust the developers and etc., must be catchy and not to be be considered as a commodity like precious metals etc.

The question is, how many coins fill these criteria?


"at least dogecoin who is also an inflationary coin doesn't promote devaluation and centralization"

Really?  It doesn't lead to centralization?  lol

Do you know how PoW chains are secured?

I've talked bullshit, I know. I'm researching to find a better way of coin distribution. I don't like NXT because of this. What do you propose?

I'm referring to the centralization that is occurring with PoW chain security due to the centralization of mining power.  I'm not talking about the currency distribution.

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