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| The rise of alternative cryptocurrencies https://gladerebooted.net/viewtopic.php?f=5&t=9921 |
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| Author: | Lex Luthor [ Sun May 05, 2013 5:51 pm ] |
| Post subject: | The rise of alternative cryptocurrencies |
This is a short thing I wrote up on Hacker News. But almost nobody cares there, haha. Litecoin is becoming a very strong contender to Bitcoin [1]. It will soon be on Mtgox, according to their press reports. Feathercoin has also picked up steam, and it's interesting because it's brand new and already popular. Namecoin, which has been around since 2011, is still a strong contender with long term potential and value. The main difference between Litecoin and Bitcoin is the hashing algorithm used. Litecoin also has faster transaction confirmation times, since blocks are mined at a 4x rate. In my best opinion, Litecoin is better technology than Bitcoin. Anyways it is a worthwhile thing to look into these before the mainstream gets to them. There are two main exchanges to trade alternative cryptocurrencies, here [2] and here [3]. Also there is a forum where they are discussed and you can monitor the hype [4]. [1] Litecoin is now accepted for donations on The Pirate Bay, the number one torrent site [2] btc-e.com [3] vircurex.com [4] bitcointalk.org/index.php?board=67.0 |
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| Author: | Rorinthas [ Sun May 05, 2013 8:04 pm ] |
| Post subject: | |
I like the idea of exchanging bandwidth/processor time/whatever for "currency," but I think it would be better if the people making the currency were using that "bandwidth" to do something other than make the currency. Then the currency would have external value and a way to turn your currency back into "bandwidth" |
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