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Author Topic: No new Alt Coin?  (Read 2342 times)
kjlimo
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January 05, 2012, 07:30:10 AM
 #21

I actually want a new altcoin.  I can imagine it playing out.... CPU altcoin.  I refresh the topic every 5 minutes, download it quickly and mine it with 3 PCs.  I amass 10k shitcoins and sell them for 0.01 each.  Too bad there are no more fools to do this to xD

There's always a new batch of fools to do this to Smiley  That's the beauty of this growing community.  I know I got lost in alt chains for a while.  Now I'm back to mining the core bitcoins, with IXC/I0C/NMC merged.  And soon DVC next week.

What we need are people actually setting up new goods and services for alt coins for them to take hold.  However, even I only want to mess with bitcoin right now.  The market hasn't accepted any other alt coin as a legit competitor just yet.

Coinbase for selling BTCs
Fold for spending BTCs
PM me with any questions on these sites/apps!  http://www.montybitcoin.com


or Vircurex for trading alt cryptocurrencies like DOGEs
CoinNinja for exploring the blockchain.
doublec
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January 05, 2012, 08:09:55 AM
 #22

What we need are people actually setting up new goods and services for alt coins for them to take hold.  However, even I only want to mess with bitcoin right now.  The market hasn't accepted any other alt coin as a legit competitor just yet.
The problem is that if you set up a service that uses an alt-coin, you could get more users by opening it up to bitcoin. Alt coins need to provide something that bitcoin doesn't. Namecoin has names. Perhaps additional transaction types, or other experimental offerings.
kjlimo
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January 05, 2012, 09:54:38 AM
 #23

What we need are people actually setting up new goods and services for alt coins for them to take hold.  However, even I only want to mess with bitcoin right now.  The market hasn't accepted any other alt coin as a legit competitor just yet.
The problem is that if you set up a service that uses an alt-coin, you could get more users by opening it up to bitcoin. Alt coins need to provide something that bitcoin doesn't. Namecoin has names. Perhaps additional transaction types, or other experimental offerings.

Agreed, the main difference for the alt chains right now are the block times, or the mining/network specifics.

These aren't all that intriguing for a merchant who just wants to use any cryptocurrency.  Because the merchants will want to accept a cryptocurrency that has the largest market (by number of users, not just market cap), which is bitcoin right now. 

The advantages of "faster" confirmations probably isn't as exciting as people initially thought.

Also, I'm sure that the average merchant isn't gonna grasp many of the details of how CPU vs GPU makes a network safer, stronger, etc.

Either way, the idea of merged mining is still interesting because it allows us to transition in the future to another option (probably yet to be created) that comes up with something really attractive.

For that we can thank nmc,ixc,i0c,dvc.  We'll see if they come up with anything else to attract market attention.

Coinbase for selling BTCs
Fold for spending BTCs
PM me with any questions on these sites/apps!  http://www.montybitcoin.com


or Vircurex for trading alt cryptocurrencies like DOGEs
CoinNinja for exploring the blockchain.
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