Thursday, November 23, 2017

AltCoins

Units of measure

Science Fiction has always shaped reality. Tablets were predicted by Star Trek, Hitchhiker’s Guide to the Galaxy, and many more. Mashable even published a list of sci-fi books that predicted future events. I’m not implying that theses people posses some special skill, but rather that society follows ques. Science fiction writers happen to be particularly adept at telling what science may actually do in the near to long term future. In one specific case many sci-fi games & movies have currencies that are defined by “credits” or “units”. Theses terms both represent possession, rather than wealth. Some of these movies …continue reading

Altcoins are about to go crazy

At some point late last year the price of bitcoins started to go crazy. We saw huge month over month gains, anyone who got in at the right time did fairly well. Altcoins are just about to do the same thing. If you buy into Gresham’s Law this all starts to make a lot more sense. The value of money is directly related to it’s security. Security is comprised of two components, price stability and actual security. Price stability is still tough with crypto-currency but things are getting better, albeit slowly. Security on the other hand is pretty simple. Assuming …continue reading

Social Alts

I’ve had this idea floating around for a while. I can’t figure out if it is brilliant, or naive. We have many encryption technologies that work with multiple signers and multiple keys. Why can’t we host our own distributed (eg, unmonitored) social network? All we need is a blockchain like protocol coupled with third party sites that provide access to differing types of data of public but encrypted data. HN Discussion

The two altcoins you should know

Bitcoin certainly has a lot of imitators.  Some are worth your time, others are not.  Litecoin and Namecoin are two of the contenders that everyone should seriously consider. Litecoin uses a slightly different algorithm, scrypt, as opposed to bitcoin’s SHA-256.  Scrypt hashing is a memory intensive process, so asics for scrypt mining should be much slower to evolve than their SHA-256 counterparts.  Bitcoin prices are moving in a direction that will make them difficult for the everyday consumer to swallow.  Litecoin, on the other hand is still hovering somewhere around $10, this makes prices easier for consumers to conceptualize and …continue reading