Quote:
Originally Posted by jaydorn
Fill me in here, what's the intention of the alternate coins (EG: litecoin) at the end of the day? With Bitcoin I can at least see there's a desire & drive to get merchants to accept them and lead to consumer adaptation as an alternate currency, but it kinda looks like the alternate coins are just playing to the spectators game.
No one seems to be talking about using litecoins at Subway, but simply the lower spectator/entry cost at the current time. Am I missing something here? Are people backing litecoin in hopes it overtakes bitcoin or becomes another strong alternative currency?
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Many people in the communities believe there are better, and stronger ideas than Bitcoin. On top of that, different coins could fill different roles, not specifically -only- as an alternative to fiat currencies.
It does seem like investors are starting to figure out other currencies are worth speculative plays...so many random 100% jumps. But I still think there will be good days and bad days due to the amount of big money involved in this now. Many people don't believe in it - many people see it as an investment which will complicate its' actual value in the long term.