My view on the future of Crypto Currencies

[Blazin604]

Hey everyone, I am fairly new to this entire game. I have known about Bitcoins for the past couple years..i just recently dove deep into this world and now I  cant help but see the potential in Crypto Currency. I just wanted to share some of my outlooks on some Cryptos that I have a good feeling about and discuss some possibilities of what Crypto Currency may look like 10-20 years down the road....hey maybe even sooner? Here is a list of my top 4 in order of value.


1. MASTERCOIN:

Mastercoin enables holders of the coin to use the "master protocol". This protocol acts as a "layer" on top of the Bitcoin code itself. So it is NOT and ALT coin. This enables the holder to issue contracts, create company's with shares and create user generated tokens.  Mastercoin provides a set of features that only work with MSC or Mastercoin-based currencies, and there is a limited number of them. So, in order to enjoy these features, you have to own some mastercoins, giving them an independent value. The more real world usage Mastercoin sees, the higher the value of each mastercoin. In addition, as always, a lot of its value is currently driven by speculators executing a price discovery process.

Specifically, mastercoin tokens are used for:

Creating derived currencies and smart property are used to create and/or promote smart property tokens as an anti-spam measure.

Mastercoins will essentially act as "keys" for business's to create virtual shares and contracts that they can tie to things like companies or property.  There are a limited number of Mastercoins (600k) this is what will drive the price high. Mostly large company's will hold Mastercoins (fortune 500 level)


2. Bitcoin

The "gold" of crypto currency. Bitcoin has a fixed limit of 21 million coins. Therfore this will increase the value of the bitcoin. Bitcoins are currently the most widely traded and accepted crypto and i believe that in the future it will be viewed as a store of value.

3. Litecoin

The "silver" of crypto currency. Similar to Bitcoin with a fairly small fixed limit compared to other cyrptos. This is the second most established crypto around right now and i believe it is hear to stay. It is not going anywhere.

4.  Ripple 
I believe Ripple will change the world. Ripple is doing what everyone else is doing wrong, (coinbase, bitstamp ect).
They have the potential of being so much more and Ripple is capitalizing on it. Ripple’s market cap is overstated in many places. For example, when calculating the market cap of ripple, you can’t multiply the market price by 100 billion because not all of ripple in the world are actually on the market. In fact, there are only about 7.4 billion ripple on the market (source) with Ripple Labs giving away an additional 1.25 million ripple every day.

If we take the current market price for ripple ($0.016) and multiply it by the actual supply (7.4 billion), we’d see ripple’s market cap is actually around $118 million. That would make it about a third the size of the $389 million litecoin market.

What’s interesting about this, though, is the fact that a sudden influx of cash into the ripple market could spike prices much higher than it might otherwise (if the full circulation of ripple were already in the wild). For example, CoinMarketCap.com estimates ripple’s market cap at $2 billion. If indeed ripple’s market cap hit $2 billion and there were only 7.4 billion ripple on the market, we’d be looking at ripple prices around $0.27.

If ripple’s market cap surged to $10 billion (a number bitcoin hit back in December), we’d be looking at ripple prices of $1.35. A market cap around $15 billion would push ripple up to $2. Not bad!

I've studied Ripple for a while and asked many questions. It is backed by some very big names and companies such as Google ventures. It is much more complex than Bitcoin, that is certain. But also holds the promise of doing much more. Ripple doesn't replace Bitcoin but rather, complements it. A lot simply don't understand Ripple and haven't thought long enough about it to see the implications.

One of Ripple's prime advantages over Bitcoin is that the development of the software and promotion of the related gateway services is run by a for-profit company instead of a non profit.. You might think this is a bad thing but actually, it aligns the financial interests with the interests of the users. There's a financial incentive to write clean software, document it extensively, and work on the features that users actually want.

The OpenCoin team is already up to 20 people I think. They are all getting a salary, and there is a level of management which guides the development. They have actual deadlines, and investors to be held accountable to.

OpenCoin's primary stated means of generating revenue is to "hold XRPs (ripples) and hope they go up in value." That means they have a financial interest in making XRPs useful, and keeping their value stable (to the extent that they are able to do so, which will be very limited once they are all given away and sold).

Because OpenCoin needs Ripple to be successful in order for them to make money, they can do things that Bitcoin can't realistically do. Like hire a PR firm to brand the Ripple product and promote it to the masses in a commercialized way. Compare this with Bitcoin, which only recently underwent a revision to the main website. The attitude of the Bitcoin developers and principals is that they don't want Bitcoin to grow too fast, and that it is still experimental beta software. OpenCoin, on the other hand, is aggressively courting partners to make Ripple provide as much utility as possible in a short time. OpenCoin has a lot of momentum, plenty of smart people, and a bulging war-chest of investment capital.

Ripple is already an impressive piece of working software. You can go into your Ripple wallet right now and trade Bitcoins for US dollars, Euros, and XRPs, in the distributed order book. You can deposit and withdraw money at both Bitstamp and WeExchange. The Ripple beta solves the problem we recently experienced with the denial of service and MtGox lag. When Ripple opens its doors to the public, the first thing it will do is provide profoundly deep liquidity for Bitcoin. It will make the process of depositing money at an exchange a distributed process, since deposited funds can be used to purchase bitcoins in ANY order book not just one. Withdrawal of funds will be similarly distributed. If an exchange has a $10,000 monthly withdrawal limit you could just open an account at another exchange and withdraw from there as well.

 Going beyond Bitcoin, Ripple will easily integrate into traditional payment networks like debit cards or checking accounts, allowing vendors to unknowingly accept Ripple payments through their already existing systems. Since Ripple IOUs correspond naturally to fiat currencies, these integrations will be far more convenient and functional than their Bitcoin counterparts.

Ripple dollars will be the most commonly traded crypto currency. With a hard limit of 99 billion to be released in circulation. No more can be created...This protects against inflation down the road...

Ripple is poised to be the next big thing during the crypto-currency revolution.

[1714281566]

1714281566

[1714281566]

1714281566

[1714281566]

1714281566

[Jamestty]

In the long term, there must be one or several of the best digital encryption currency is widely accepted by the market.

[jojo69]

death to ripple

[Bit_Happy]

....
Ripple is poised to be the next big thing during the crypto-currency revolution.

Ripple is ridiculously complicated (i.e my balance is not actually BTC but "Bitstamp btc" // that is only one example of serious issues with Ripple), and in it's current form has almost no chance of real success. Sorry, but I strongly believe that to be accurate.

Maybe, the Ripple creators are "too smart" and cannot create something suitable for the masses?

[Crindon]

In moving into the future, we all must consider the effects to the environment and issues of sustainability. The only coin that moves towards this is Mintcoin. Mintcoin has an excellent development team and a huge and growing community. It has switched to Proof of Stake minting which takes a lot less electricity than coins like Bitcoin or Litecoin. With Mintcoin, you get more coins by holding them. It pays out at 20% in the first year, then 15%, then 10%, then 5% for each subsequent year. The community is strong and more and more merchants keep adding Mintcoin. As well, Vault of Satoshi is adding Mintcoin next month which is fantastic. This is definitely gonna be one of the long-term players.

[str4wm4n]

I had a revelation about Ripple and saw its potential about a month ago when a few Ripple based alt coins (BIG coin and LOLcoin) were released and the coins were given away like XRP was originally on bitcointalk.

I was determined to exchange the free coins for btc and after a few frustrating but enlightening hours I was successful in exchanging my 50,000 BIG coin and 2,000,000 LOLcoin for .008 btc.

If you really want to understand ripple, I found hands on experience to be the best teacher.

somehow I ended up with an account negative 999,000 LOLcoins...I don't know how this happened can anyone explain?

[counter]

I'm a strong supporter of two you named and I'll let you guess witch two I'm talking about.    I don't know a long about Mastercoin so I won't say much about that.. End comment hehe.

[gonzoucab]

POS Android minting is the future

more Distributed and not dependant in big hardware to process transactions.

Less energy consumption, and really really fast confirmation speed.

That gives you three options: Mint (since early feb) BC sin late feb/march and ECC

Mint have better name and the comunity is not focused on price pumping, but in developing services
in the other hand, BC is more focused on price pumping trough multipool (ASIC will kill this)

ECC sounds like w0long, i bought a few at 6 an alredy put it on sale at 48, trying to get lucky

Mint is clearly the future.

[twiifm]

POS Android minting is the future

more Distributed and not dependant in big hardware to process transactions.

Less energy consumption, and really really fast confirmation speed.

That gives you three options: Mint (since early feb) BC sin late feb/march and ECC

Mint have better name and the comunity is not focused on price pumping, but in developing services
in the other hand, BC is more focused on price pumping trough multipool (ASIC will kill this)

ECC sounds like w0long, i bought a few at 6 an alredy put it on sale at 48, trying to get lucky

Mint is clearly the future.

Thanks for the info.   So the app is called Mint?  

[Bit_Happy]

I want to like Ripple.... "a few frustrating but enlightening hours" just doesn't cut it these days.

I had a revelation about Ripple and saw its potential about a month ago when a few Ripple based alt coins (BIG coin and LOLcoin) were released and the coins were given away like XRP was originally on bitcointalk.

I was determined to exchange the free coins for btc and after a few frustrating but enlightening hours I was successful in exchanging my 50,000 BIG coin and 2,000,000 LOLcoin for .008 btc.

If you really want to understand ripple, I found hands on experience to be the best teacher.

somehow I ended up with an account negative 999,000 LOLcoins...I don't know how this happened can anyone explain?

Careful if the value goes way up you will have a debt you can never repay...........LOL?

[Crindon]

POS Android minting is the future

more Distributed and not dependant in big hardware to process transactions.

Less energy consumption, and really really fast confirmation speed.

That gives you three options: Mint (since early feb) BC sin late feb/march and ECC

Mint have better name and the comunity is not focused on price pumping, but in developing services
in the other hand, BC is more focused on price pumping trough multipool (ASIC will kill this)

ECC sounds like w0long, i bought a few at 6 an alredy put it on sale at 48, trying to get lucky

Mint is clearly the future.

Thanks for the info.   So the app is called Mint?   Isn't that a Intuit product?

It's one of the altcoins called Mintcoin or MINT. It is now using Proof of Stake (PoS) minting which means if you have Mintcoins and just hold them, you get 20% more coins after one year. It's kinda like mining except you don't have to send BTC to some bogus website in hopes that they will send you an ASIC to mine SHA or scrypt coins with and not rip you off. You can mint with a laptop and so long as you don't move the coins and they just sit there, you get 20%.

[twiifm]

POS Android minting is the future

more Distributed and not dependant in big hardware to process transactions.

Less energy consumption, and really really fast confirmation speed.

That gives you three options: Mint (since early feb) BC sin late feb/march and ECC

Mint have better name and the comunity is not focused on price pumping, but in developing services
in the other hand, BC is more focused on price pumping trough multipool (ASIC will kill this)

ECC sounds like w0long, i bought a few at 6 an alredy put it on sale at 48, trying to get lucky

Mint is clearly the future.

Thanks for the info.   So the app is called Mint?   Isn't that a Intuit product?

It's one of the altcoins called Mintcoin or MINT. It is now using Proof of Stake (PoS) minting which means if you have Mintcoins and just hold them, you get 20% more coins after one year. It's kinda like mining except you don't have to send BTC to some bogus website in hopes that they will send you an ASIC to mine SHA or scrypt coins with and not rip you off. You can mint with a laptop and so long as you don't move the coins and they just sit there, you get 20%.

Awesome will check it out

[gonzoucab]

POS Android minting is the future

more Distributed and not dependant in big hardware to process transactions.

Less energy consumption, and really really fast confirmation speed.

That gives you three options: Mint (since early feb) BC sin late feb/march and ECC

Mint have better name and the comunity is not focused on price pumping, but in developing services
in the other hand, BC is more focused on price pumping trough multipool (ASIC will kill this)

ECC sounds like w0long, i bought a few at 6 an alredy put it on sale at 48, trying to get lucky

Mint is clearly the future.

Thanks for the info.   So the app is called Mint?  

The Coin, Mint coin.

The app is gonna be released soon, revolutionary.

[PirateButtercup]

@Bit Happy…Ripple may seem difficult to understand to some, it depends on your knowledge of finance. For you to get a better grasp about how there can be BTC:Bitstamp, take a quick jog over to wikipedia and read about the Free Banking Era of the 1800s (before the Fed).

@Str4m4n…yes, I can explain what happened. Ripple allows anyone to become a ‘bank’ or 'gateway' and issue anything of value. One man, for example, issued DYM which he backed with real silver dimes that he would redeem upon demand. You apparently issued about a million LOL, and someone trusted you and accepted them from you. (As a general rule for newbies, you probably shouldn’t trust anyone other than the gateway where you deposited cash, crypto or commodity).

[hilariousandco]

I had a revelation about Ripple and saw its potential about a month ago when a few Ripple based alt coins (BIG coin and LOLcoin) were released and the coins were given away like XRP was originally on bitcointalk.

I was determined to exchange the free coins for btc and after a few frustrating but enlightening hours I was successful in exchanging my 50,000 BIG coin and 2,000,000 LOLcoin for .008 btc.

If you really want to understand ripple, I found hands on experience to be the best teacher.

somehow I ended up with an account negative 999,000 LOLcoins...I don't know how this happened can anyone explain?

I think the lol after -999,000 is apt here.

[sweetgirl01]

I want to like Ripple.... "a few frustrating but enlightening hours" just doesn't cut it these days.

I had a revelation about Ripple and saw its potential about a month ago when a few Ripple based alt coins (BIG coin and LOLcoin) were released and the coins were given away like XRP was originally on bitcointalk.

I was determined to exchange the free coins for btc and after a few frustrating but enlightening hours I was successful in exchanging my 50,000 BIG coin and 2,000,000 LOLcoin for .008 btc.

If you really want to understand ripple, I found hands on experience to be the best teacher.

somehow I ended up with an account negative 999,000 LOLcoins...I don't know how this happened can anyone explain?

Careful if the value goes way up you will have a debt you can never repay...........LOL?

I also don't like ripple.
 I think litecoin will be in the future will have great development, because now it still has very large development space
I bought some at a high price, while the present price halved! Damned!

[Lauda]

death to ripple

You have my vote.

[PirateButtercup]

I find animosity toward Ripple to be perplexing.

The Ripple protocol enables a 1000 Bitcoin transactions per second (and is easily scaleable) ... whereas the bitcoin protocol can only handle what?...7?

The RTXP protocol enables bitcoin transaction to clear instantly ... whereas the BTC protocol takes a minimum of 10 minutes.

The consensus system is not subject to malleability or 51% attack....

The network is distributed, so accounts can't be frozen and it doesn't rely on centralized exchanges (i.e. Mt Gox).

Every aspect of it is open source so you can do whatever you want with it.


I can understand a preference for a particular currency (like gold or LTC)...and a revulsion from others (like fiat). With Ripple you can keep your wealth in any currency you want....and have it easily interchangeable with everyone else. (I wouldn't recommend XRP though as it is primarily for anti spam....)


There is no doubt the Ripple ecosystem is the most inclusive, thoroughly designed payment system, exchange and protocol.... and it's closest competitor is still in a primordial soup....

[Beliathon]

With Mintcoin, you get more coins by holding them

Wait, wouldn't that be terrible for any Mintcoin-based economy? Since it is the MOVEMENT / fluidity of currency that grows an economy??

[Beliathon]

somehow I ended up with an account negative 999,000 LOLcoins...I don't know how this happened can anyone explain?

Essentially, the internet is saying to you, "hey, your LOL coins are actually worth less than nothing! You shouldn't use this crypto... Stick to BTC"