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Ask HN: Cryptocurrencies that you think have a bright future?

I’m not asking in terms of investing, but rather in terms of it becoming a functional currency. I ask because there is a lot of cynicism here(which i share) about Bitcoin but I wonder if there a rosier views for coins with more privacy, lower transaction fees, etc.

rmb177 6y ago
I'm very interested in the Chainlink project ($LINK). Decentralized Oracles providing real-world data on-chain seems to me to be a no-brainer. A good example that's talked about is crop insurance. Aggregate regional rainfall within a certain geographical area from several different sources into a single value, that is then used to guarantee the terms of a smart contract seems to be a pretty useful thing. This type of use case is applicable to any number of decentralized financial products.
nikivi 6y ago
There's lots of dislike about nano in HN and outside for some reason but on paper it does seem to do well as a currency. https://nano.org https://nano.org
- 4AoZqrH2fsk5UB 6y ago
  Why do you think that is?
  - nikivi 6y ago
    No fees to send money due to 'better' consensus mechanism.
  - akudha 6y ago
    Feeless, instant transfer. You can use it today. Not sure if that alone is enough though.
- protoduction 6y ago
  I agree that Nano has potential to actually be a currency, but does it actually matter? Those that buy a cryptocurrency hoping that it will increase in value 100-fold are not likely to actually use it to buy pizza. What it needs is actual adoption in the real world. I want to be able to buy a pizza with it, but nobody seems to offer it as a payment option yet. Perhaps what will make it take off is some video game or other digital economy adopting it as their in-game currency. It seems perfect for that.
  - maps7 6y ago
    Have you tried? I have bought stuff with cyrpto.
- gge 6y ago
  its 2021 and the 2017 shitcoins are still being shilled
washedup 6y ago
Bitcoin is the only one that's proven itself useful today. Others will be hit or miss, but the crypto world will be more like an ecosystem than anything else, with room for many to exist that solve different problems. Others that I find useful: 1. Ethereum 2. Link 3. BAT
hggh 6y ago
Bitcoin Cash (BCH).
yigitcakar 6y ago
I don't think bitcoin will be a functional currency in its current state since your currency can't be more volatile than the prices of the goods you are using it to buy.
- notomorrow 6y ago
  Did you just plagarize Nassim Taleb's tweets?
  - yigitcakar 6y ago
    I just studied economics.
kleer001 6y ago
> becoming a functional currency None. At least until a sovereign nation decides to ditch fiat for crypto. The first to do that, I bet, will still treat it like fiat and use all the classical monetary policies. So, it'll be crypto in name only. Eventually, IMHO, Bitcoin will eat all the money in the world, stabilize at something like 10-15 million per. Then it'll just kinda take over as being more trustworthy than any fiat. Of course countries will try to regulate the heck out of it. But, since it has no president of Bitcoin, it'll survive. Then, we'll have to deal with the knock on effects of a deflationary currency and all that entails.
- randomopining 6y ago
  So government says pay taxes in USD etc? How would people not hold a lot of usd.
companyhen 6y ago
https://Sora.org https://Sora.org - Decentralized Central Bank, the team launched a Central Bank Digital Currency with the Central Bank of Cambodia last year (Bakong). https://soramitsu.co.jp https://soramitsu.co.jp
keiferski 6y ago
Probably one that is created by a reliable, trusted entity. If Apple created a crypto currency, for example, I could see it being pretty popular.
- randomopining 6y ago
  What’s the point then?
  - keiferski 6y ago
    The point of what?
m00ny 6y ago
XLM. XLM wants to achieve some goals that are just amazing and it works so well. It is there to convert and send money feeless and fast without even the need to have a XML wallet on the recieving party. https://www.stellar.org/ https://www.stellar.org/
gt565k 6y ago
Surprised I'm not seeing Cardano mentioned here. It has a network of academics working on protocols and R&D and even one of the founders of the Haskell programming language. IOHK is the company building cardano https://iohk.io/en/team/philip-wadler https://iohk.io/en/team/philip-wadler https://iohk.io/team/ https://iohk.io/team/ PoS consensus protocol https://cardano.org/ouroboros/ https://cardano.org/ouroboros/ They are also one of the few blockchains to use nixos in production Cardano was founded by Ethereum's co-founder Charles Hoskinson and is a 3rd gen block chain aiming to dethrone Ethereum
- gge 6y ago
  Imagine being a HN reader and shilling Cardano. Do you know anything about technology?
  - tome 6y ago
    Hmm, can you expand?
    - gge 6y ago
      Cardano is obviously a shitcoin. This should be immediately obvious to anyone in tech
      - gt565k 6y ago
        It's #4 / #5 by market cap, how is it shitcoin? Please elaborate. It's about to take over ethereum's market share once smart contracts are released later this or next month. It's built from scratch with some strong academics in the CS field working on R&D.
        gge 6y ago
        > It's #4 / #5 by market cap Yeah, that doesn't mean anything. Half the coins in the top 30 are shit or outright scams. Shit: ADA, XRP, LTC, BCH, XLM, DOGE, EOS, NEO, NEM, TRX Outright scams: BSV, IOTA, THETA, VET > It's about to take over ethereum's market share once smart contracts are released later this or next month. > It's built from scratch with some strong academics in the CS field working on R&D. LOL Not saying you can't make money trading shitcoins and scams, but if you are actually investing in ADA (which I'm guessing you are since you genuinely seem to believe in it) just retire from crypto.
miguelrochefort 6y ago
Holochain
Trias11 6y ago
I think functional currency needs to be robust, scalable with minimalistic fees and PEGGED to BTC.
randomopining 6y ago
STX. Enabling defi on bitcoin.

rmb177 6y ago

I'm very interested in the Chainlink project ($LINK). Decentralized Oracles providing real-world data on-chain seems to me to be a no-brainer. A good example that's talked about is crop insurance. Aggregate regional rainfall within a certain geographical area from several different sources into a single value, that is then used to guarantee the terms of a smart contract seems to be a pretty useful thing. This type of use case is applicable to any number of decentralized financial products.

nikivi 6y ago

There's lots of dislike about nano in HN and outside for some reason but on paper it does seem to do well as a currency. https://nano.org https://nano.org

4AoZqrH2fsk5UB 6y ago
Why do you think that is?
- nikivi 6y ago
  No fees to send money due to 'better' consensus mechanism.
- akudha 6y ago
  Feeless, instant transfer. You can use it today. Not sure if that alone is enough though.
protoduction 6y ago
I agree that Nano has potential to actually be a currency, but does it actually matter? Those that buy a cryptocurrency hoping that it will increase in value 100-fold are not likely to actually use it to buy pizza. What it needs is actual adoption in the real world. I want to be able to buy a pizza with it, but nobody seems to offer it as a payment option yet. Perhaps what will make it take off is some video game or other digital economy adopting it as their in-game currency. It seems perfect for that.
- maps7 6y ago
  Have you tried? I have bought stuff with cyrpto.
gge 6y ago
its 2021 and the 2017 shitcoins are still being shilled

washedup 6y ago

Bitcoin is the only one that's proven itself useful today. Others will be hit or miss, but the crypto world will be more like an ecosystem than anything else, with room for many to exist that solve different problems. Others that I find useful: 1. Ethereum 2. Link 3. BAT

hggh 6y ago

Bitcoin Cash (BCH).

yigitcakar 6y ago

I don't think bitcoin will be a functional currency in its current state since your currency can't be more volatile than the prices of the goods you are using it to buy.

notomorrow 6y ago
Did you just plagarize Nassim Taleb's tweets?
- yigitcakar 6y ago
  I just studied economics.

kleer001 6y ago

> becoming a functional currency None. At least until a sovereign nation decides to ditch fiat for crypto. The first to do that, I bet, will still treat it like fiat and use all the classical monetary policies. So, it'll be crypto in name only. Eventually, IMHO, Bitcoin will eat all the money in the world, stabilize at something like 10-15 million per. Then it'll just kinda take over as being more trustworthy than any fiat. Of course countries will try to regulate the heck out of it. But, since it has no president of Bitcoin, it'll survive. Then, we'll have to deal with the knock on effects of a deflationary currency and all that entails.

randomopining 6y ago
So government says pay taxes in USD etc? How would people not hold a lot of usd.

companyhen 6y ago

https://Sora.org https://Sora.org - Decentralized Central Bank, the team launched a Central Bank Digital Currency with the Central Bank of Cambodia last year (Bakong). https://soramitsu.co.jp https://soramitsu.co.jp

keiferski 6y ago

Probably one that is created by a reliable, trusted entity. If Apple created a crypto currency, for example, I could see it being pretty popular.

randomopining 6y ago
What’s the point then?
- keiferski 6y ago
  The point of what?

m00ny 6y ago

XLM. XLM wants to achieve some goals that are just amazing and it works so well. It is there to convert and send money feeless and fast without even the need to have a XML wallet on the recieving party. https://www.stellar.org/ https://www.stellar.org/

gt565k 6y ago

Surprised I'm not seeing Cardano mentioned here. It has a network of academics working on protocols and R&D and even one of the founders of the Haskell programming language. IOHK is the company building cardano https://iohk.io/en/team/philip-wadler https://iohk.io/en/team/philip-wadler https://iohk.io/team/ https://iohk.io/team/ PoS consensus protocol https://cardano.org/ouroboros/ https://cardano.org/ouroboros/ They are also one of the few blockchains to use nixos in production Cardano was founded by Ethereum's co-founder Charles Hoskinson and is a 3rd gen block chain aiming to dethrone Ethereum

gge 6y ago
Imagine being a HN reader and shilling Cardano. Do you know anything about technology?
- tome 6y ago
  Hmm, can you expand?
  - gge 6y ago
    Cardano is obviously a shitcoin. This should be immediately obvious to anyone in tech
    - gt565k 6y ago
      It's #4 / #5 by market cap, how is it shitcoin? Please elaborate. It's about to take over ethereum's market share once smart contracts are released later this or next month. It's built from scratch with some strong academics in the CS field working on R&D.
      - gge 6y ago
        > It's #4 / #5 by market cap Yeah, that doesn't mean anything. Half the coins in the top 30 are shit or outright scams. Shit: ADA, XRP, LTC, BCH, XLM, DOGE, EOS, NEO, NEM, TRX Outright scams: BSV, IOTA, THETA, VET > It's about to take over ethereum's market share once smart contracts are released later this or next month. > It's built from scratch with some strong academics in the CS field working on R&D. LOL Not saying you can't make money trading shitcoins and scams, but if you are actually investing in ADA (which I'm guessing you are since you genuinely seem to believe in it) just retire from crypto.

miguelrochefort 6y ago

Holochain

Trias11 6y ago

I think functional currency needs to be robust, scalable with minimalistic fees and PEGGED to BTC.

randomopining 6y ago

STX. Enabling defi on bitcoin.