The Best Digital Currency

[fredthegambler]

In the state of bitcoin now and the issues sorrounding it, is it still the best digital currency to date?

[1714878250]

1714878250

[bornil267645]

I think ripple will have something to say about it...

[asdlolciterquit]

In the state of bitcoin now and the issues sorrounding it, is it still the best digital currency to date?

best...in which way?

[icet208]

Bitcoin will always remain the "best" digital currency. It is already very popular, it has a few years of "experience", improvement. No other crypto(at least at this moment) had come with an idea that can mach the blockchain technology(even if a new crypto will come with such an idea , BTC can adopt it)

[oceans]

I personally myself feel that bitcoin as of right now is the best digital currency due to the fact it's been out more in which case it has more potential with it already having the basics worked out. You take another currency that has not been around for as long as bitcoin and it's guaranteed to have more problems than bitcoin has now meaning calling it the best would be wrong.

[Moonway99]

Bitcoin and litecoin are the most stable cryptocurrencies.

[giveBTCpls]

Bitcoin will always remain the "best" digital currency. It is already very popular, it has a few years of "experience", improvement. No other crypto(at least at this moment) had come with an idea that can mach the blockchain technology(even if a new crypto will come with such an idea , BTC can adopt it)

This. Even the developers (BTC devs) have said that they will literally copy anything that can treat Bitcoins hegemony, but no one has come up with something really worth copying.
And no other coin is going ever having to have the network effect of BTC.

[TippingPoint]

Quantity has a quality all its own.

[digitalindustry]

http://www.coindesk.com/stellar-ripple-hyperledger-rivals-bitcoin-proof-work/

at least someone is talking about the central authority and the possible global Id.

phew ! finally .

[Velkro]

it is and it will be
revolutionary things don't happen every day

[RodeoX]

I still think BTC is king. The alts, that are not scams, try to fix things that are not problems and offer no new ideas. They are often script kitty versions of Satoshi's code. Only litecoin has any cred that I can see.

[Verse]

http://www.coindesk.com/stellar-ripple-hyperledger-rivals-bitcoin-proof-work/

at least someone is talking about the central authority and the possible global Id.

phew ! finally .

PoW creates negative externalities. Bitcoin can only be held responsible for these externalities if, like blood diamonds, a public movement is used to decrease demand and therefore price. However a cryptocurrency's uses as a payment processor and therefore its value is directly tied to its price. Therefore it is highly unlikely for Bitcoin to be unseated because:



A) The majority of mining costs are sunk, the daily money saved transacting in Bitcoin (relative to credit cards, ect...) can offset mining's daily environmental damages (unless you're an eco-nut, in which case you should be picking a fight with China not Bitcoin.) Furthermore as coinbase decreases and miners are unable to exert upwards pricing pressure on fees we will likely see these external costs decrease.

B) An alternative currency cannot easily subsume Bitcoin's uses due to valuation induced demand (wire transfers for S&P 500 companies can only occur above X exchange rate and volume.)

C) The black market feels no shame, some users will not easily convert from Bitcoin. Systems resist change.



I do not view "green" cryptocurrencies as a threat to Bitcoin; and Bitcoin can simply subsume any other beneficial altcoin adaptations.

[Window2Wall]

I still think BTC is king. The alts, that are not scams, try to fix things that are not problems and offer no new ideas. They are often script kitty versions of Satoshi's code. Only litecoin has any cred that I can see.

The alt coins are a scam. They are just a way for their owners to make money off of the idea of bitcoin (they just make a few very minor changes)

[icet208]

Indeed many (allmoust all altcoins) are just pump&dump coins; but it`s a good way to test this new technology and find out new thinks, and apply to Bitcoin if it`s a good idea.

[BrannigansLaw]

I like Gridcoin, but that is the only alt coin I've seen which offers any real kind of improvement. Hashing power doesn't go to waste but goes through BOINC instead. http://boinc.berkeley.edu/

[CoinCidental]

Bitcoin ./

[Este Nuno]

People in this thread seem to be under the impression that altcoins are a scam and no new technology has been developed. That might have been true last year but 2014 has been a revolutionary year so far for altcoins.

It's probably worth exploring further if you're interested. Lots of smart people building interesting projects.

[llanillo]

There some cryptocurrencies that are famous but i would say Bitcoin still the best

[keyxkey]

Ripple is a nice contender for the first place among crypto currencies, but everyone here seems to hate it because of its premine.

[pa]

Bitcoin is by far the leader in terms of its ecosystem and current utility. It offers significant improvements over fiat for some applications, and it is far more liquid than other digital currencies. I am expecting Bitcoin to continue to increase in adoption, and to incorporate some technological improvements and new features, but perhaps not as quickly as it has in the past.

I personally have also invested in Monero, because I think CryptoNote currencies may offer greater financial privacy than Bitcoin and I think that there is untapped demand for financial privacy. Compared to the CryptoNote alternatives, Monero seems more likely to survive, be widely adopted, and be responsibly developed.