Feathercoin mentioned Article
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Thanks, interesting article. What comes after Bitcoin? Good question!
http://www.psmag.com/business-economics/what-comes-after-bitcoin-future-of-cryptocurrency-61660/
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Here’s the paragraph from the article, we need to have a better meme, I don’t like copper to Litecoin silver. Although we could spin it that we want Feathercoins to be used, and it will be success when we have the most transactions for any open currency system, or we pay out the most to miners…
Feathercoin, a future coin now.
I like that Litecoin are not just pushing the “non ASIC” angle in the article, but also, that it has a “higher encryption” than Bitcoin.
We can say, Feather coin has a more secure encryption, that isn’t so vulnerable. We are different from Litecoin because we are trying to make an everyday, secure, but open coin. To that end, the open forum, and wide involvement has been its main differentiating factor…
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"These examples are just the most prominent in a sea of obscure cryptocurrencies.There’s DYM, a Ripple-based currency that uses pre-1965 U.S. silver dimes for backing, and Feathercoin, which Mohan described as the “copper to Litecoin’s silver.â€
Freicoin augments Bitcoin with a charge that mounts the more time you don’t spend currency, the reverse of gaining interest from savings."
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The problem with ‘Bitcoin = gold, Litecoin = silver, Feathercoin = copper’ is it is thinking of all these coins as commodities. That may very well become the case with Bitcoin, but if something else is a faster, lighter, easier to use, more portable, and more reliable means of payment than Bitcoin it stands poised to take over as a preferred means of payment, while Bitcoin finds its niche as a place to store large amounts of value. The comparison would be more like
Bitcoin = bars of gold
Feathercoin and Litecoin, and possibly PPcoin, Worldcoin, Phenixcoin, Primecoin, Digitalcoin, Terracoin, Yacoin etc. = dollars, euros, pesos, pounds, francs, and roubles
Namecoin = .bit domain names
Infinitecoin = ten trillion Zimbabwe dollars.Sorry about that last one but couldn’t resist ;D
Bitcoin and Namecoin are commodities; the others, depending on what finds widespread adoption in the market, are mediums of exchange. But of course, who knows how the market will shake out? For all any of us know, BBQcoin will come out on top in three years. :o
The article, unfortunately, mostly seems to want to promote Ripple and another electronic currency the Canadian government is starting. Bleh. Corporate and government-controlled currencies are the negation of everything decentralized cryptocurrencies stand for. Glad to at least see Feathercoin, along with Litecoin and Freicoin mentioned in the article.
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[quote name=“catnip” post=“21477” timestamp=“1373751880”]
The problem with ‘Bitcoin = gold, Litecoin = silver, Feathercoin = copper’ is it is thinking of all these coins as commodities. That may very well become the case with Bitcoin, but if something else is a faster, lighter, easier to use, more portable, and more reliable means of payment than Bitcoin it stands poised to take over as a preferred means of payment, while Bitcoin finds its niche as a place to store large amounts of value.
[/quote]I agree with that. I do view Bitcoin as a commodity. People in countries with unstable currencies (high inflation) will look to Bitcoin to preserve wealth. Also the fact the people do not like transactions that will be mostly .08 BTC or .[i]anything[/i]. Feathercoin has the advantage over Litecoin as an alteranate use currency simply because of the 4x more available than Litecoin. Litecoin price will probably increase over the years and people may look to it as a ‘storage’ commodity like Bitcoin, and then the .anything use problem. So people should keep thinking Bitcoin=Gold and Litecoin=silver. Feathercoin should break from that thinking.
For real-world use that will appeal to people I think Feathercoin has the advantage, so long as the network and community continues to grow.
