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If you go to https://coinmarketcap.com/ https://coinmarketcap.com/ you will see they have info on over 600 individual crypto currencies. 99% of them are going

If you go to https://coinmarketcap.com/ https://coinmarketcap.com/ you will see they have info on over 600 individual crypto currencies. 99% of them are going to be worthless long term. Best case scenario a handful of them survive. I'd be extremely skeptical of any coin that distributes coins via an ICO or "pre-sale" instead of via competitive mining like Bitcoin.

atomical 9y ago
Mining is a waste of energy. An ICO makes sense if they 1) have a product that benefits from a blockchain, 2) have a great team and a demo of their product.
- SkyMarshal 9y ago
  Mining doesn't waste energy, it's the cost the network pays for security, and it usefully indexes the value of the token rewarded to miners for securing the network to their cost of electricity, grounding the token value in some hard-to-manipulate real-world value.
  - atomical 9y ago
    It wastes energy compared to POS (Proof of Stake).
    - pmorici 9y ago
      Is there a working implementation of POS yet?
      - atomical 9y ago
        It will likely happen this year with Tezos. Ethereum will eventually use POS as well.
        pmorici 9y ago
        So, no.
        atomical 9y ago
        Depends if you count the test nets I suppose.
- redtuesday 9y ago
  As a layman which also thinks of mining as a waste of engery (although it seems necessary as the other commenter pointed out) I hope gridcoin [0] or something similiar takes off. [0] http://www.gridcoin.us/ http://www.gridcoin.us/