I see that http://crypto-prices.com lists 483 (as of this moment) digital currencies, of which, as it happens, Emoticoin is not one, despite one of those Emoticoin pages purporting to link to its listing there.
How would one assess which of those currencies, if any, has a future? Or whether one should instead invent a 484th? What will it take for a digital currency to succeed, where others fail?
How would one assess which of those currencies, if any, has a future? Or whether one should instead invent a 484th? What will it take for a digital currency to succeed, where others fail?
In case it’s not clear, if you do not know the answers to these questions, you should not be investing in altcoins.
Yeah I meant that comment for other people. I figured that you figured that ;P
Basically the short answer is that there is absolutely no reason for any two p2p coins to exist which share the same or significantly overlapping monetary policy. Just about every alt out there is a scarce commodity, and therefore will be subsumed by bitcoin eventually. There is at least one that is different, e.g. freicoin which is explicitly designed to fill a different role and not compete with bitcoin, although whether such currencies will stand on their own remains very much up in the air. None of the others have a future. Those which provide new features that are useful will either have their changes merged into bitcoin, or be available for use with bitcoin via a sidechain value pegging mechanism.
(Disclaimer: I co-wrote Freicoin, and hold some of both Bitcoin and Freicoin, but nothing else.)
I see that http://crypto-prices.com lists 483 (as of this moment) digital currencies, of which, as it happens, Emoticoin is not one, despite one of those Emoticoin pages purporting to link to its listing there.
How would one assess which of those currencies, if any, has a future? Or whether one should instead invent a 484th? What will it take for a digital currency to succeed, where others fail?
In case it’s not clear, if you do not know the answers to these questions, you should not be investing in altcoins.
I figured that, I’m wondering whether i should ignore the questions or look for answers.
Yeah I meant that comment for other people. I figured that you figured that ;P
Basically the short answer is that there is absolutely no reason for any two p2p coins to exist which share the same or significantly overlapping monetary policy. Just about every alt out there is a scarce commodity, and therefore will be subsumed by bitcoin eventually. There is at least one that is different, e.g. freicoin which is explicitly designed to fill a different role and not compete with bitcoin, although whether such currencies will stand on their own remains very much up in the air. None of the others have a future. Those which provide new features that are useful will either have their changes merged into bitcoin, or be available for use with bitcoin via a sidechain value pegging mechanism.
(Disclaimer: I co-wrote Freicoin, and hold some of both Bitcoin and Freicoin, but nothing else.)