Poll : Cryptocurrency Name Feedback

[CryptO]

Hey guys,

I wondered if you could provide me with some feedback. It may help me decide as to how I am going to diversify my cryptocurrency investments.

Please imagine that you are about to invest in a cryptocurrency and that you consider the name of that currency to be important for its future, mainstream adoption.

From the list, which name would appeal to you?

Thanks in advance!

Alty

Btw, I have deliberately left Bitcoin out of the list because that is the market leader for some time to come but the market for 2nd, 3rd and 4th place is imo going to become ultra competitive and potentially very lucrative for early investment.

 

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[stefan]

I think that Ecoin is short but catchy.

 

[DeletedUser12]

I personally like goldcoin and it's cheap -- but Litecoin seems to be making some gains today, may grab some just in case.

 

[DeletedUser2]

ICoin
Terracoin
safecoin

Imint
Terramint
crypomint
C-mint
Emint
Bitmint
safemint
lunar mint
solar mint

Egem
Igem
Bitgem
Terragem
Cryptogem



just some thoughts
Z

 

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[Oven]

The secondary cryptocurrency is already and will most likely stay Litecoin, at least for some time. I don't see why you would invest in a different cryptocurrency right now, many of them drop whenever there is a bitcoin bubble because of all the people converting to bitcoin. I would just invest into bitcoin if it goes as high as it potentially can you'll make a good amount.

I really don't think the name of the currency matters either if the US Dollar was called something else no one would care, we would still use it because that's what companies accept. Perhaps a better approach would be looking into the best designed currency, which one has faster transfers, is more secure and has a good development team behind it. Those are the currencies companies will want to back.

But to be honest, other crypto currencies don't have much going for them unlike with bitcoin there is, in most cases, no places at all that accept them (a few places accept litecoin). People are putting money into bitcoins by building atms and starting bitcoin companies. The future looks bright, I wouldn't say the same for other crypto currencies. If Bitcoin already took off and it was stable I might consider investing in another crypto currency but it's too early for that. If you get into Bitcoin now you're still early, it might not feel like it but it didn't feel like it at $40 either (When I first looked into it). My suggestion would be to buy some Bitcoins and forget about them, check back in a few years you'll either be very rich or very poor.

 

[Stridone]

The secondary cryptocurrency is already and will most likely stay Litecoin, at least for some time. I don't see why you would invest in a different cryptocurrency right now, many of them drop whenever there is a bitcoin bubble because of all the people converting to bitcoin. I would just invest into bitcoin if it goes as high as it potentially can you'll make a good amount.

I really don't think the name of the currency matters either if the US Dollar was called something else no one would care, we would still use it because that's what companies accept. Perhaps a better approach would be looking into the best designed currency, which one has faster transfers, is more secure and has a good development team behind it. Those are the currencies companies will want to back.

But to be honest, other crypto currencies don't have much going for them unlike with bitcoin there is, in most cases, no places at all that accept them (a few places accept litecoin). People are putting money into bitcoins by building atms and starting bitcoin companies. The future looks bright, I wouldn't say the same for other crypto currencies. If Bitcoin already took off and it was stable I might consider investing in another crypto currency but it's too early for that. If you get into Bitcoin now you're still early, it might not feel like it but it didn't feel like it at $40 either (When I first looked into it). My suggestion would be to buy some Bitcoins and forget about them, check back in a few years you'll either be very rich or very poor.

I'm personally getting into Litecoins at the moment, expect it to go up alot these coming months. Cryptocurrencies are starting to gain popularity and traction, but there is still time to get in.

 

[Talisman]

Im going to work off the assumption that all sci-fi movies are based in some fact, passed back through time in some time-travelling way, and go with "CreditCoin". So in the future we'll be trading in "credits" or "cred".

 

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[Oven]

I'm personally getting into Litecoins at the moment, expect it to go up alot these coming months. Cryptocurrencies are starting to gain popularity and traction, but there is still time to get in.

Why Litecoins? Do you have reason to believe that they will grow at a faster rate than Bitcoins? Maybe when Bitcoins reach a new high and go down a bit some people will panic and convert their bitcoins to litecoins. Although if you're thinking long term I would get bitcoins instead, I feel like a lot of people think bitcoins are too high right now, but I think we are at the point where people need to start thinking in terms of millibitcoins instead of bitcoins. 1 mBTC is only $0.78 on mtgox right now, not even a dollar! There's a reason bitcoin can be divided up so many time and it's because the creator intended for it to eventually reach a value that would require that. If Litecoin goes up 100% and Bitcoin goes up 100% you're making the same return even though Litecoin is cheaper right now.

 

[Ravens_Shadow]

Assuming these are just names that you would name a new cryptocurrency, I wouldn't choose Goldcoins simply because I'm not sure if you could overpower the search for physical bullion gold coins.

 

[Stridone]

Why Litecoins? Do you have reason to believe that they will grow at a faster rate than Bitcoins? Maybe when Bitcoins reach a new high and go down a bit some people will panic and convert their bitcoins to litecoins. Although if you're thinking long term I would get bitcoins instead, I feel like a lot of people think bitcoins are too high right now, but I think we are at the point where people need to start thinking in terms of millibitcoins instead of bitcoins. 1 mBTC is only $0.78 on mtgox right now, not even a dollar! There's a reason bitcoin can be divided up so many time and it's because the creator intended for it to eventually reach a value that would require that. If Litecoin goes up 100% and Bitcoin goes up %100 you're making the same return even though Litecoin is cheaper right now.

I honestly think both are still up for massive growth but Litecoins are much more in a stage of infancy like Bitcoins were 2 years ago. Litecoins haven't been added to the big exhanges (mtgox and such) yet and there has been alot of buying and interest from China. Their viability as a cryptocurrency possibly exceeds that of Bitcoin but I think both have their place in the future.

To be honest, either of them is a great investment right now. Some people seem to be expecting a big crash for BTC but while I don't claim to be an expert, I don't believe that at all. The recent soaring is not just a bunch of speculators hoping to make a quick buck and then pull out, it's an increasing global interest and acceptance of the currency. We might see a slight correction soon but after that, the only way is up. The maximum amount of bitcoins is 21 million, and with the whole world turning it's eyes towards it right now, every bitcoin will have to increase in value to accomodate the amount of users. Call me delusional but it wouldn't surprise me to see the value rise ten or even hundredfold in these coming years.

China is hugely interested (!) and the US Senate seems to take a positive stance towards it, so unless Bitcoin completely crashes and burns (highly unlikely) I think it is still a very wise and safe investment with some sick returns if you hold on to it.

Bitcoin is either the revolutionary digital version of gold, or one huge goddamn ponzi scheme. Either way, alot of people are going to make alot of money.

 

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[CryptO]

One day investors will be trading billions of dollars in each day in digital currencies.

Perhaps they will be integrated into the Forex exchange.

There is big money to be made in this space and it's only just getting started!

I'm running with Goldcoin http://gldcoin.com/ and Bitcoin.

Goldcoin has got a small community and should grow as people look to diversify. I think it's got a great name and for now it's dirt cheap (that's why I think it's worth making a low value bet on it that has an interesting possibility of providing a massive upside). It's also supposedly faster than BTC and LTC.

But I must admit looking at the markets yesterday litecoin is looking like it will get some serious traction very soon.

 

[Oven]

It's going to be really interesting and fun to watch the development of these currencies I've already learned a lot from Bitcoins, I've never looked into anything related to Forex or anything like it before bitcoins. I think the biggest challenge for Bitcoins right now is getting people to start using it as a currency and not just as an investment, companies have no reason to start accepting Bitcoin if no one wants to use it because they are afraid it's gonna double in value tomorrow!

 

[CryptO]

Fastlaners.

Watch this video To the end.

You'll see why in about 12 to 24 months.

Thank me later.

http://www.youtube.com/watch?v=3w0mBvHX0vY&feature=share

 

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[Oven]

Fastlaners.

Watch this video To the end.

You'll see why in about 12 to 24 months.

Thank me later.

http://www.youtube.com/watch?v=3w0mBvHX0vY&feature=share

I honestly don't see a good reason to invest in Goldcoin. Like I said earlier if you buy $500 worth of Goldcoin and it goes up 100% it'd be the same as buying $500 of Bitcoin and it going up 100%, it doesn't matter that Goldcoin is dirt cheap right now. Companies are putting serious money into the development of Bitcoin, no one's heard of Goldcoin. Bitcoin just has so much more going for it, and we're still fairly early to the game. The guy in the video compares cryptocurrencies to search engines and internet companies, the problem is a currency is not a company. If everyone accepts Bitcoin it won't matter if Goldcoin is better or has a nicer name it can't be used anywhere. If someone offered to pay me in Rainbow coins, even though the name is amazing I wouldn't accept it because I can't use it anywhere. I'd ask them to pay me in something that I can actually use to pay to feed myself because that's the whole point of a currency.

Why does no one compete with PayPal? I've read about tons of horror stories and everyone hates the fees but so many sites accept paypal for a competitor to really compete with them they'd need to be able to convince all those sites to accept them instead. If another cryptocurrency plans to seriously compete with Bitcoin they'd have to start convincing companies to accept them before Bitcoin seriously takes off, it could happen I just don't think it's likely.

 

[exige]

So is the goal to create a forked coin and own the initial pre-mined coins, and then get traction so you can be at the top of the pyramid? Is it possible to pull this off now, or is the market already too fragmented?

 

[Stridone]

Why does no one compete with PayPal? I've read about tons of horror stories and everyone hates the fees but so many sites accept paypal for a competitor to really compete with them they'd need to be able to convince all those sites to accept them instead. If another cryptocurrency plans to seriously compete with Bitcoin they'd have to start convincing companies to accept them before Bitcoin seriously takes off, it could happen I just don't think it's likely.

Paypal does have a few relatively succesful competitors, Moneybookers (now Skrill) and Neteller for example.

 

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[Oven]

Paypal does have a few relatively succesful competitors, Moneybookers (now Skrill) and Neteller for example.

Not sure how accurate this chart is just found it from a google search but you can clearly see that even with all of Google's money only 8% of people had actually used Google Wallet compared to PayPal (48%) PayPal got there early, everyone accepts it. It's really tough to compete with them because everyone accepts them. The only thing I see as a serious competitor to PayPal is Bitcoins (because of the low fees and simplicity) if companies begin to accept it, and I think PayPal sees that too, they've spoken about integrating Bitcoins with there system in the past (http://blogs.wsj.com/digits/2013/04/30/could-paypal-be-on-horizon-for-bitcoin/).


Just like other payment processors have trouble competing with PayPal, other currencies would have trouble competing with Bitcoin. Assuming it gets to that stage where it is being widely accepted/used.

 

[Jake]

Bitcoin.

It's a protocol. It's programmable. If a "killer feature" comes about in an alt-coin it can be programmed into bitcoin. Nobody uses alternatives schemes to send traffic on the internet, we use TCP/IP. Bitcoin is the TCP/IP of value transfer (amongst other uses).

alts can stick around as a defense mechanism for crypto-currency but they're nothing more than that imo.

 

[CryptO]

Please look at the market cap for all the Alt coins here >>>> http://coinmarketcap.com/

They tend to increase in value as bitcoin increases, some of them many times more.

They will continue to do so as people look elsewhere to invest.

I feel that the only possible outcome is that there will be a variety of coins that gather increased traction and will become more mainstream with bitcoin so people have a choice of paying in their preferred coin.

IMO it is better to by cheap while they are young.

But I still hold $14000 worth of BTC and $1000 of Goldcoin (because I like it).

I'd rather say to the waiter in a restaurant that I want to settle the bill in Goldcoin as opposed to saying Bitcoin! Maybe that's just me but I think that names and association are important.

I see Litecoin as being an excellent investment for people getting into the game right now.

Probably better to own 1000 litecoin than 12 BTC. IMO

DO NOT TAKE THIS AS ADVICE I AM ONLY GOING BY MY OWN GUT FEELING

 

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