The term “altcoin” has become synonymous with “inferior” in the crypto world. “Altcoins” are scams, ripoffs, cheap duplicates, and largely worthless. There are dozens and dozens of them, and most of them are garbage with no innovative features.
I would thus suggest that as a community, we banish the term “altcoin” from our vocabulary. We are no longer an altcoin: we are Peercoin, and we are a competitor of Bitcoin, and Litecoin.
It is important that we kill the notion that we are in any way similar to the legions of coins that offer nothing new. As long as we refer to ourselves as an “altcoin”, we are admitting that we don’t believe we will ever achieve market dominance. It immediately frames us as a novelty item that is unworthy of legitimate consideration. And from a branding perspective, it places us into what’s called a “consideration set” of inferior goods.
So…I hope many of you will join me in removing that term from our messages and communications. Let’s not be an altcoin any longer, let’s be a truly equal competitor.
I’m okay with slyly avoiding using the term alt coin, but even LTC is considered an alt coin and with good reason. Look at BTC. It’s an unstoppable monster. It’s Godzilla rampaging through the inner city of Tokoyo and Peercoin is a team of scientists who’ve been working on a laser beam for the last year to take it down. And at the moment the laser can barely chip off one of Godzilla’s scales.
I agree with everything you said. I hate it when people call it an alt-coin, because it’s really not. Proof of stake is a brand new concept completely separate from Bitcoin and all its clones.
I wholeheartedly agree with Sentinelrv. Both PPC and XPM are currency of its own class. For LTC can continue to be referred as altcoin for good reason, as it brings no innovation of its own. I would consciously distance myself from the ‘altcoin’ mindset. So please catch me and remind me
I personally believe POS is an important concept in its own right.
We can have Prove of X, where X could be a lot of things. When X is work, or activity, or excellence, or whatever, it is like we need to introduce some external factors. But if X is stake, it is not an external factor, instead it only rely on the ownership itself. This makes POS very special. If future generations will ever have a consensus about cryptocurrency, maybe POS will be “the one”.
[quote=“MeBeingAwesome, post:1, topic:731”]Hear me out.
The term “altcoin” has become synonymous with “inferior” in the crypto world. “Altcoins” are scams, ripoffs, cheap duplicates, and largely worthless. There are dozens and dozens of them, and most of them are garbage with no innovative features.[/quote]
The fact that people use the world “altcoin” in some particular way or another or have a prejudice toward it shouldn’t change what it stands for. I disagree with your reasons to abandon this word completely.
