From 'Ripples' To 'RonPaulCoin'; There Are Now 83 Cryptocurrencies In The World

Tyler Durden's picture




 

While Bitcoin (and Litecoin) garner the most attention in the cryptocurrency world, there are now 83 (and counting) virtual currencies to store your wealth in. Bitcoin's market cap (at over $10 billion) is by far the highest but we wonder whether the miasma of mimiccers - from Unobtainium to the ironically-named StableCoin and from 'Philospher Stones' to HoboNickels - serves to reduce the confidence in Bitcoin as a new method payments, or bolsters it as the clear market winner.

 

Top 20 Virtual Currencies...

 

The full list, sorted by market cap, is here.

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Tue, 01/28/2014 - 21:14 | 4377714 wisehiney
wisehiney's picture

http://www.cnbc.com/id/101370984

Getting HOT out there.

Tue, 01/28/2014 - 21:23 | 4377746 stacking12321
stacking12321's picture

fucking dogecoin....

Tue, 01/28/2014 - 21:24 | 4377749 fonestar
fonestar's picture

There's eighty-three cryptocurrencies and about five or six serious cryptocurrencies.

Tue, 01/28/2014 - 21:27 | 4377754 A L I E N
A L I E N's picture

 

Gridcoin is the future!

http://gridcoinnetwork.org/

 

Tue, 01/28/2014 - 21:31 | 4377775 Harlequin001
Harlequin001's picture

Soon to be a trillion crypto currencies, none worth any more than any other and then you might as well hold fiat.

There is and always was only one serious alternative to fiat and that is gold in money.

Period.

Tue, 01/28/2014 - 21:37 | 4377790 john39
john39's picture

did the money changers control the Pound?  Do the money changers controll the FRN?   so how many of these crypto currencies are also created and controlled by the money changers?  I guess to them, it doesn't really matter in the end, as long as the only one which really comes out on top...  is theirs.

Tue, 01/28/2014 - 21:39 | 4377808 Troll Magnet
Troll Magnet's picture

Fuckin' morons can't wait for a cashless society. They'll get what they deserve.

Tue, 01/28/2014 - 21:43 | 4377823 GetZeeGold
GetZeeGold's picture

 

 

Gold, in use for 6000 years....just sayin.

Tue, 01/28/2014 - 21:47 | 4377840 fonestar
fonestar's picture

Well it had a nice run.

Also, what this article fails to mention is that some of these are niche coins and fill very important roles.  For example Namecoin (NMC) which could be almost as important as Bitcoin itself.  I'm not going to tell you why, you can research that on your own... but that would involve reading and opening your mind so I doubt it.

Tue, 01/28/2014 - 21:50 | 4377863 Troll Magnet
Troll Magnet's picture

My mind is open. It's your brain that's turned off.

YEAH! Let's all go digital currency invented by _____! What could possibly go wrong???

Tue, 01/28/2014 - 22:39 | 4378129 SMG
SMG's picture

Props to the ZHer that came up this (Sorry I didn't search for it):

ButtCoin

Pull it out of your ass whenever you want.

Or keep it there for safekeeping.

Tue, 01/28/2014 - 23:02 | 4378219 bunzbunzbunz
bunzbunzbunz's picture

Every comment before this one is bullshit lies. Get some free bitcoins at http://freebitco.in/?r=25727.

That's all you need to know. Now go be a successful whatever with more fake money!

Wed, 01/29/2014 - 00:28 | 4378563 fonestar
fonestar's picture

That's right bunz!

Wed, 01/29/2014 - 04:18 | 4378895 Fish Gone Bad
Fish Gone Bad's picture

Now that cryptocurrency is fairly common, I am getting seriously creeped out.

Wed, 01/29/2014 - 06:45 | 4379011 GetZeeGold
GetZeeGold's picture

 

 

 

 

It sorta makes you pine for the malaise daze of fiat paper.

Wed, 01/29/2014 - 07:39 | 4379066 Spanky
Spanky's picture

Stop it. I'm gettin all teary-eyed.

Wed, 01/29/2014 - 10:44 | 4379532 fonestar
fonestar's picture

Yes, we're well aware of the fake libertarians secret love affair with paper rectangles.

Tue, 01/28/2014 - 22:38 | 4378120 Spanky
Spanky's picture

-1

For... the usual BS.

How about it fonestar, proved the bitcoin crypto algo is unbreakable yet? Or are you still spouting BS? Come on fonestar, pony up: Answer the question.

Bitcoin: An NSA crypto algo wrapped in a USN onion. Fingerprints at the scene of the crime.

Tue, 01/28/2014 - 23:16 | 4378251 bunzbunzbunz
bunzbunzbunz's picture

So. It's updateable. So. It's open source. So like, if someone who is smart like you, like finds an exploit for it, like and steals money or like whatever, like the program can be like changed to patch that exploit.

I'm guessing you have NO fucking clue as to what encryption is. But let's say you created an encryption algorithm that was good, you would probably use at least 256 bit keys. Which would take even the best supercomputer thousands of years (or more? probably. i really dont feel like mathing right now) to break using brute force. And that is the approximate time to break ONE!e encrypted packet. Not the whole system. So it is up to people who are smarter than you.....or more dedicated to find an exploit to your encryption algorithm before the system can be exploited. But then guess WHAT!@?#!@?#?!@ RJ@$IJ?:SAF:JOAS" ODJGS

Like, someone else will patch the program to use a different encryption algorithm. sooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo.... you know. maybe statistically it will work. kinda like dem credit card thingies that can be stolen!@# but yet we darn how seem a keep usin em.

Wed, 01/29/2014 - 00:11 | 4378487 Spanky
Spanky's picture

-1

For... giberish.

So. It's updateable. So. It's open source. So like, if someone who is smart like you, like finds an exploit for it, like and steals money or like whatever, like the program can be like changed to patch that exploit. -- bunzbunzbunz

So like, so what? If somebody smart like me (your words, not mine) steals your money because of a crypto exploit, well that's OK because they (whomever they are) will write a patch for it? Bullish!

Is this really the best you can do fonestar, excuse me, bunz?

Like, someone else will patch the program to use a different encryption algorithm... -- bunzbunzbunz

Yes sir, I'll bet they'll get right on it. Hot damn. Too bad about your bitcoins though. Tough shit as they say out west. Can I have some of what you're smokin'? It smells good...

...i really dont feel like mathing right now... -- bunzbunzbunz

And I would hate for you to go all mathy on me. So how about explaining "trust" in the context of "cryptography" and "they".

Comon guys, just answer the fuckin' question: Prove the bitcoin crypto is unbreakable. Get all mathy an shit. Prove the algo is trustworthy. Cause the burden of proof is on you...

Wed, 01/29/2014 - 00:39 | 4378579 wintermute
wintermute's picture

The mere existence of Bitcoin with a $11 billion valuation proves that the encryption it uses is unbreakable. There is a massive golden hoard for the first hacker to crack, but guess what? They can't. Every money-hungry computer-techy-crypto-hacker nerd on the planet has had a look and given up.

That is how good Bitcoin is.

Wed, 01/29/2014 - 03:55 | 4378882 Spanky
Spanky's picture

-1

For...

The mere existence of Bitcoin with a $11 billion valuation proves that the encryption it uses is unbreakable. -- wintermute

Please don't make me laugh. All that proves is that people are gullible. And I'm not terribly concerned about hackers. I'm much more interested in the folks that wrote the crypto algo. You might of heard of them -- the NSA.

Hmmm. If total information awareness is .gov's goal, I'll just bet the NSA jumped at the chance to release strong crypto to the world. I wonder if the Russians and Chinese know what they're missing out on?

And if bitcoin is that good (your claim) -- prove the bitcoin crypto is unbreakable. Any other answer is just more bullshit.

Wed, 01/29/2014 - 01:03 | 4378632 bunzbunzbunz
bunzbunzbunz's picture

Wait...did you not realize I was making fun of your ignorance? You're cute. Good luck in life 'tard.

To put this into terms you might have the intelligence to comprehend: cash is exploitable; gold is exploitable; credit is exploitable; bitcoin is exploitable.

All systems that exist are the product of statistics and can be exploited statistically. So once again - GO FUCKING LEARN SOMETHING ABOUT ENCRYPTION YOU STUPID, HILLBILLY, FUCKING, RETARD. In the event you are just trolling me, good job.

You do realize that when credit cards first existed, THEY WERE EXTREMELY RISKY for both parties?Yet...hmmm.............. I think maybe they might still be in widespread use. But maybe I'm wrong.

Wed, 01/29/2014 - 03:45 | 4378867 Spanky
Spanky's picture

Yada, yada, yada... Just more fuckin' bullshit and no substantive answer. If you don't understand the trust problem with SHA-256, simply because of who wrote it, you'll never understand the basics of crypto. I don't trust the NSA. You do. That's the problem in a nutshell.

All your evasions and name calling can't obscure one simple fact -- you can't prove dick. You believe, but you don't know. If you did, you could prove it. But you can't. It's really just that simple. 

If I'm so dumb and ignorant, and what I assert baseless, you ought be able to prove it. But all you're doing is piling on more fanboi bullshit.

Put up or shut up boys: Prove the crypto in bitcoin is unbreakable.

Bitcoin: NSA crypto wrapped in a USN onion. Fingerprints at the scene of the crime.

Wed, 01/29/2014 - 04:32 | 4378899 TheHound73
TheHound73's picture

You can't prove something is unbreakable because it would take an infinite amount of attempts.  That's just part of the risk profile of Bitcoin.  Don't like it or can't fit that risk into the lunch money section your investment portfolio ? Fine, don't bite.  Nobody cares.

Satoshi Nakamoto once said: 

SHA256 is not going to be broken by Moore’s law computational improvements in our lifetimes. If it’s going to get broken, it’ll be by some breakthrough cracking method. An attack that could so thoroughly vanquish SHA256 to bring it within computationally tractable range has a good chance of clobbering SHA512 too. If we see a weakness in SHA256 coming gradually, we can transition to a new hash function after a certain block number. Everyone would have to upgrade their software by that block number.

 

Wed, 01/29/2014 - 04:41 | 4378917 Spanky
Spanky's picture

+1

For... answering the question.

You can't prove something is unbreakable because it would take an infinite amount of attempts. -- TheHound73

Thank you. It's a simple answer really. But that's not the issue, is it? Trust is the issue. You either believe the NSA has released strong crypto into the wild, or not. I don't and you're right: Nobody cares. I just get tired of bullshit.

Wed, 01/29/2014 - 05:52 | 4378973 TheHound73
TheHound73's picture

NSA outsourcing the Quality Assurance of crypto to the world and all its experts is a lot cheaper and gets a lot more eyeballs on it than trusting to their small in-house clique of over-paid employees.  I, personally, use the Bouncy Castle version of SHA-256 which was built from the ground up apart from the NSA code and all of it is available for inspection.

Wed, 01/29/2014 - 07:12 | 4379032 Spanky
Spanky's picture

If you do not fully comprehend the mathematics of the algo... you're taking it on trust. Literally. And that's what crypto is in the real world -- trusted associates.

One of your associates is not trustworthy. I know this from experience. It rules out any other argument, because there is a lack of trust. The best crypto algo in the world is useless if you cannot establish, or, break the chain of trust. Ask the Nazis about Enigma...

Now why would the NSA release strong encryption (i.e.: an algo with no backdoor) to the world? They are in the business of reading people's mail, and have no duty to secure anything other than .gov communications. Moreover, as Snowden revealed, they are in the "total information awareness" business. Strong encryption makes that problematic. There is no incentive for the NSA to release strong encryption into the wild... unless.

Dismiss them all you want, but doing so indicates a lack of healthy respect for their formidable capabilities. Credit, where credit is due. Snowden has barely scratched the surface... 

And just in case you're wondering how far out there no such agency can go with an unlimited budget and all the capabilities of .gov at its disposal, just consider Operation Ivy Bells.

https://en.wikipedia.org/wiki/Operation_Ivy_Bells

http://rijmenants.blogspot.com/2009/12/operation-ivy-bells.html

I esp. like the nuclear-powered phone taps.

Is it too great a leap to think the NSA might release a crypto algo for public use that has a backdoor, and that some "experts" just plain missed it and others were well paid to so?

Tue, 01/28/2014 - 22:07 | 4377946 Kirk2NCC1701
Kirk2NCC1701's picture

In the interest of historical accuracy and intellectual integrity...

Gold has been used by monarchs as decoration and demonstration of god-like Power & Glory prior to ~ 500 BC.

Gold has been used as "Money" (coins!) the last 2,500 years.  A very long time, no doubt, but not the 6,000 yrs than many seem to think or suggest.

As most of you know... Gold stopped being used as Money (backing to paper currency) in 1971, thanks to US Pres. Nixon and a host of people who put him up to it. 

It was (allegedly) Henry Kissinger's idea to swap yellow gold for black gold (oil!).  By getting the Saudis to lead/force the OPEC cartel to adopt the USD as The Only currency for pricing, buying & selling of global crude oil, it prevented a run on the dollar and created the Substitution effect.  Since then, gold has maintained psychological value as Universal Money, but that too is coming under scrutiny.

It appears, as the power of the Petro-dollar wanes (or may do so in the coming years), that Cyber-Currencies are trying to play to long game, to eventually replace oil as Universal Money.  Maybe a mix of gold + cybercurrency is the way to hedge against a world of runaway fiat-currency and fiat-debt creation.

Wed, 01/29/2014 - 04:35 | 4378910 Fish Gone Bad
Fish Gone Bad's picture

Maybe a mix of gold + cybercurrency is the way to hedge against a world of runaway fiat-currency and fiat-debt creation.

Sorry but no, not really.  Real is real.  Hand waiving and faith are for fools.  In the long run, all that will ever be real is something that can be held.  Apparently everyone in the world might know this other than people who bicker on ZeroHedge.

Google: cursing fish cafepress

Tue, 01/28/2014 - 21:41 | 4377827 RideTheWalrus
RideTheWalrus's picture

83 roads to FedCoin which comes pre-installed in your RFID.

 

Tue, 01/28/2014 - 22:17 | 4377997 Kirk2NCC1701
Kirk2NCC1701's picture

Bingo!

Clever way to let the Market build the new infrastructure for free and debug the system.  Then, when it's running nice & smooth, some False Flag event will lead TPTB/Fed to issue a Red Herring argument  as to why they "need" to intervene.  But don't be fooled with their trickery, where they swap pretext for reason.

Bonus round: If you tattoo yourself with a QR Code, then YOU become the Walking, Talking Wallet that can't be forged, lost or stolen.  "It's for your own good". 

Enter "666"... when no one can buy or sell w/o the Mark of The Beast.  When literature or SciFi tech is used for Inspiration, rather than as a Warning, then 'prophecy' becomes Self-Fulfilling prophecy.

"No Fate But The One We Make"

Tue, 01/28/2014 - 23:20 | 4378270 bunzbunzbunz
bunzbunzbunz's picture

This is the correct attitude. But does that mean bitcoin is worthless long-term? Are there patents? Will the government respect the patents?

I think it's cute that bitcoin is being marked as the "way to get away with crime". Yet it is allllllll traceable. Seems like someone(s) want bitcoin to get used from the bottom up. I'm not sure what this really means long-term. But it's fun!

Wed, 01/29/2014 - 04:26 | 4378903 Spanky
Spanky's picture

-1

For...

Are there patents? Will the government respect the patents? -- bunzbunzbunz

OH. MY. GOD. Didn't you get the news??? There are patents!!! Registered to an NSA employee!!! That cover bitcoin!!! I'm so excited!!!

... [bitcoin] is alllllll traceable... -- bunzbunzbunz

That's the point.

Wed, 01/29/2014 - 01:19 | 4378665 Metal Minded
Metal Minded's picture

Perhaps, but they could also be 83 roads which End the FED and get the other Fed(read govt) under control.

Wed, 01/29/2014 - 07:02 | 4379024 Acet
Acet's picture

The FED is all about wealth (as in wealth preservation and storage), while crypt occurrences are all about distance trading in the digital world: their strength is not in storing value, it's in allowing (reasonably) anonymous distance payments.

In my view gold and crypto-currencies are complementary rather than rivals.

 

(Please note this is quite independent of the issue of whether or not a specific crypto-currency is actually safe to trade with)

Wed, 01/29/2014 - 07:05 | 4379025 Acet
Acet's picture

*dupe*

Wed, 01/29/2014 - 05:16 | 4378942 silvermail
silvermail's picture

All these so-called crypto-currency will multiply like rabbits up to moment when their numbers will be equal to the number of fools on the planet.
And only when every fool on the planet will have its own personal crypto-currency, the bubble of crypto-currency will burst and all these so-called crypto-currency, will become equal zero.

Wed, 01/29/2014 - 07:26 | 4379045 Disenchanted
Disenchanted's picture

Why don't we drop all the pretense and just introduce a virtual currency called the Shekelbitz...

Thu, 01/30/2014 - 03:16 | 4383342 kurt
kurt's picture

Und the miners vood be Shekelgreubers like Hitler's mom, who vas a Rothchild. Thus ze money would be back in the better and righter hands.

Tue, 01/28/2014 - 22:25 | 4378043 Zero Point
Zero Point's picture

The usefullness of crypto will be undiminished. The paper profit of speculators will be.

Hilariously.

Wed, 01/29/2014 - 08:22 | 4379132 cnmcdee
cnmcdee's picture

When I went to buy a new video card for a game I wanted to play I discovered they were all sold out.  I started doing research and people were making $200 - $600 / month with their video cards crunching various cypto-currencies.  Bitcoin had become so difficult that only ASIC miners could even hope (and only ASIC Pool Miners at that) make any money at it.  However it's closer knock off's like lite-coin were supposedly designed to prevent ASIC miners from wiping out the video card miners.

In the end I steered clear from all of it.  I realized that the pools were completely based on trust, and the pools were taking people's digital currencies.  So you would mine for the pool and they were hand distributing the blocks that were solved!? No thanks, it was a very complicated pyramid scheme.

The other dirty secret is anyone buying ASIC miners would be unable to get their hands on them until *after* the cards were unprofitable.  Look at the wait times for an ASIC miner.

Then there was total outright fraud with companies like TeraMiner that spouted Tera-Hashes.  Collected hundreds of thousands (or millions) of people's money, made up completely bogus circuit boards, then folded overnight and refunded HALF of the money that they collected.

Meanwhile in China any ASIC fabricator is quietly waiting to make an ASIC miner for any digi-currency over a certain value.

And on the Silk-Road $100 million in Bitcoin just vanished from an anonymous online Bitcoin wallet.

Who is to say that NSA's Quantum computer cannot completely crack the encyryption leaving the entire thing worthless.

STAY AWAY FROM ALL OF IT - It is one fraud system perpetrated upon another.

Tue, 01/28/2014 - 21:41 | 4377824 RazorForex
RazorForex's picture

 GridCoin is a new peer-to-peer internet based cryptocurrency that aims to provide real benefits to humanity by compensating the coin miners for participating in BOINC projects that may lead to advances in medicine, biology, mathematics, science, climatology, and astrophysics by concentrating a large percentage of the computational power towards BOINC research - instead of generating unecessary heat and wasted power for the proof of work algorithms required to keep the coin network running.

http://www.gridcoin.us

If you look at the Gridcoin wallet client you will see how different it is and how much work has been put into it. This is not just another copycat coin. So far the Gridcoin Network has donated close to 9 million points to the Boinc system in various science projects. Even if this coin goes nowhere, the fact that already this much work has been done is a success in my book.

Boinc stats: http://boincstats.com/signature/-1/team/118094994/sig.png

http://razorsforex.blogspot.com/2014/01/crypto-exchange-c-cex-accepts-gr...

 

 

 

 

Wed, 01/29/2014 - 01:14 | 4378658 Metal Minded
Metal Minded's picture

'BOINC projects' ' BOINC research' 'Boinc system'

I'm not familiar, please explain. TIA

Wed, 01/29/2014 - 09:45 | 4379305 RazorForex
RazorForex's picture

Boinc is a system where anyone can donate computing power from their pc to various science projects that need calculations done. So scientists from different universities have projects like proten folding, various math problems, cancer research etcc.. So you can install the software on your computer and pick which projects you want the software to do work for and thats it.

 

And now thanks to the Gridcoin Project you can donate power to Boinc and earn Gridcoins in the process. So you get a monetary benefit for contributing to science.

Wed, 01/29/2014 - 01:58 | 4378737 Kirk2NCC1701
Kirk2NCC1701's picture

Good to know, thanks.
But tell me, doesn't that sound like a(nother) Voluntary Surtax -- so the wealthy or the Gov don't have to fund this?

Tue, 01/28/2014 - 21:26 | 4377756 stacking12321
stacking12321's picture

tyler, what gives!

the jpg you put up shows bitcoin #1 followed by litecoin #2, ripple is conspicuously absent.

when i click on the link you gave, it shows ripple #2.

Tue, 01/28/2014 - 21:55 | 4377887 NGC4945
NGC4945's picture

The API feeds for these coins occasionally go out and come back.

Tue, 01/28/2014 - 22:22 | 4378032 The Thunder Child
The Thunder Child's picture

Ripple isn't minable, 100% pre-mine banker scam coin. There is a selection at the top of coinmarketcap 'minable' that filters those coins out.

Tue, 01/28/2014 - 22:47 | 4378164 Debtonation
Debtonation's picture

Ripples may be listed as #2, but it has harldy the volume.  Most is just sitting around and if it achieved a comparable volume as BTC there wouldn't be enough liquidity to support that market cap making it effectively worthless.

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