Quote from: MoonIsBlue on February 28, 2018, 03:11:10 PM

Quote from: zeus376 on February 28, 2018, 02:53:54 PM

Bitcoin the Current Standard, that uses peer-to-peer technology.

Bitcoins are created digitally through a mining process that requires powerful computers to solve complex algorithms and crunch numbers. They are currently created at the rate of 25 Bitcoins every 10 minutes and will be capped at 21 million, a level that is expected to be reached in 2140.

Litecoin Litecoin is designed for processing smaller transactions faster. Unlike the heavy computer horsepower required for Bitcoin mining, Litecoins can be mined by a normal desktop computer.

Ripple Like Bitcoin, Ripple is both a currency and a payment system. The currency component is XRP, which has a mathematical foundation like Bitcoin. The payment mechanism enables the transfer of funds in any currency to another user on the Ripple network within seconds.

MintChip Unlike most cryptocurrencies, MintChip is actually the creation of a government institution, specifically the Royal Canadian Mint. MintChip is a smart card that holds electronic value and can transfer it securely from one chip to another. Like Bitcoin, MintChip does not need personal identification; unlike Bitcoin, it is backed by a physical currency, the Canadian dollar.

To read more details @ https://www.investopedia.com/articles/forex/091013/future-cryptocurrency.asp

I honestly don't care when they claim a virtual coin is backed by a government, the whole reason of Bitcoin is to give more freedom to the user away from governments, banks and inflation. They just keep arguing the same thing over and over, it isn't backed by anything. But something that is backed by the government still relies on the same thing that Bitcoin does aswell, trust and faith that I can use my BTC or Canadian Dollar in exchange for goods and services. Governments can collapse or abuse their power so I don't think its a very reliable backing.

i totally agree

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