Post
Topic
Board Altcoin Discussion
Re: rpietila Altcoin Observer
by
damashup
on 04/07/2014, 16:53:47 UTC
It's all about Monero when it comes to anonymous coins.

Explain this to me: Why is it that the market doesn't trust Monero if it has so solid fundamentals? Why is it that 100% instamined PoW/PoS hybrids appear out of nowhere, and just by being based on the Bitcoin codebase are able to out-perform the marketcap of Monero in a few days or weeks? This shouldn't even be possible.

4    Darkcoin   $ 34,537,954   $ 7.78   4,439,477 DRK
11    Bytecoin (BCN)   $ 8,974,931   $ 0.000057   156,920,284,106 BCN      
13    VeriCoin   $ 7,597,613   $ 0.283679   26,782,417 VRC
15    XC   $ 6,451,500   $ 1.17   5,515,507 XC
17    Monero   $ 5,080,622   $ 2.72   1,867,647 XMR

Which market?

The currency market? Cryptocurrencies are a blip in the ocean compared to fiat currencies, so in that sense, no-one 'trusts' any cryptos.

The cryptocurrency market? I wouldn't say the crypto-market is brimming with trust for any cryptocurrency other than Bitcoin:
e.g.
1. Bitcoin - 78% share,
2. Litecoin - 5.5%
4. Darkcoin - 1.59% share
17. Monero - 0.57% share

It's Bitcoin then everyone else scrambling over loose change right now.

Monero (and other Cryptonote coins) at least have the advantage of being different, more flexible (as I understand it) technology, of being in very early Beta stage and offering value (anonymous transactions) that Bitcoin cannot.

In the race to replace fiat (which surely has to be the ultimate prize), Monero is a more realistic challenger to Bitcoin than any other right now.

Any cryptocurrency that does not offer a unique blueprint on how to replace fiat, is no more than a speculate now, dump later scam coin in my eyes.