Post
Topic
Board Announcements (Altcoins)
Re: ★★★★★ [COIN] ★★★★★
by
vilgem
on 25/03/2014, 11:32:46 UTC
I'm in for a bit because I have been wondering about the names and how they would cope irl too - however, the 11.5M premine and no asic-proof future plans raises some concerns. Incase Coin would hit one dollar, for instance, I'm positive the dev simply would dump and walk away. Please address these concerns, tyvm.
I used to thought the same way. But now I have changed my mind. Bitcoin is sha256-based and it is the most safest crypto currency on the market. Different alts come and go but Bitcoin is like a safe harbor for your investments. In fact ASICs helped Bitcoin to survive and to acquire its value. It happened because real investors with huge capitals entered the market.

Hashing algorithms themselves do not determine the real value of a crypto currency. Only real investments do. When scrypt-based ASICs one day come, their total mining power will be shared among different scrypt-based alts, not only Litecoin. But ASIC-holders are investors. If they choose to mine a coin it already brings some real value to such coin. GPU-holders are  mostly ordinary gamers. They mine for fun. ASIC-resistance in such context is not good at all. It will keep real capital away from such coin at least in terms of mining investments.

So it turns out that there is a trade-off between ASIC-resistance and real business involvement. You never know what is better (ASIC-resistance or ASIC-friendliness), but it is a minor question anyway. What is much more important is coin philosophy and its community.