Will Ethereum destroy all Altcoins?
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Its gonna be launched in 2 weeks…if any individual can create his own currency,wouldn’t all these altcoins like LTC,NMC and even FTC lose all its value? :(
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Everyone who’s interested in altcoins is already able to create a coin. So what’s so special about this ‘‘Ethereum’’? Google vrought me to WoW posts.
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â€Å"You would have no need for mining if you do it on top of Ethereum. That’s the thing; Ethereum makes it dead easy to make a new crypto.†-Vitalik Buterin
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WHat’s different with http://coingen.bluematt.me/? And no need to mine because you can create your own coin - hm, popularity and adoption gives value to a coin. By creating one yourself it will only be valuable to yourself.
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Now I can great my very own ShruteBuck.
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it seems as though any mining will be done on the underlying Ethereum platform rather than on your coin. (This may be incorrect)
and there is only one block chain so if they can get one coin on there “Network” with miners who are interested then they can offer other coins the option to be added and essentially piggy back off the existing coin.I am very dubious about whether anyone would be interested in this. Its essentially a merge mine of all coins on Ethereum and we all know how popular that is.
(removing all autonomy from each coin and rendering the lesser of the two coins less valuable and less interesting - see namecoin etc) -
It’s actually quite useful. You’re moving back to ‘state issued’ currency, you’re just doing it via a blockchain, and the state can be anyone.
It has great potential for asset tracking. Imagine issuing vouchers that you will honor using this, like airline miles or reward points, stock certificates, or other issued property.
It’s of no threat to alt-coins.
