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This is definitely big. There are already tons of reputed investors from Silicon Valley and otherwise who started to invest heavily in Cryptocurrencies. But bi

This is definitely big. There are already tons of reputed investors from Silicon Valley and otherwise who started to invest heavily in Cryptocurrencies. But bitcoin will end up being a just a store of value(like Gold) instead of an medium of exchange. What I also wonder is, apart from store of value and medium of exchange there's hardly any need for Cryptocurrencies. If two of them solve each of the above problems, why do we need 1000's of alt coins?

Nuzzerino 9y ago
Go to https://www.coinmarketcap.com https://www.coinmarketcap.com, visit some of the websites of the listed altcoins, and each of them will (hopefully) make a case on why their coin is different, and what problem it solves. Many of these altcoins are made by scammers who want to make a quick buck from a pump and dump. For a notable example of an altcoin that solves a tangible problem, consider Monero. This coin uses a sophisticated transaction system to hide the identifiers of participants in a transaction. I don't know whether it is bulletproof, but it does claim to be much safer in terms of privacy. Another one is Verge, which routes all of its transactions through Tor. I'm more bearish on this one, and its recent spike in market-cap was short-lived, suggesting that the idea still needs work.
- Casseres 9y ago
  > Verge, which routes all of its transactions through Tor. Wouldn't it be possible to use Tor with any coin?
  - Nuzzerino 9y ago
    > Wouldn't it be possible to use Tor with any coin? That's the joke.
- tromp 9y ago
  > I don't know whether it is bulletproof, Brace yourself, bulletproofs are coming to Monero: https://getmonero.org/2017/12/07/Monero-Compatible-Bulletproofs.html https://getmonero.org/2017/12/07/Monero-Compatible-Bulletpro...