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

#1

Post by 4AoZqrH2fsk5UB » Wed, Feb 17, 2021, 12:42 PM UTC

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.

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

#2

Post by nikivi » Wed, Feb 17, 2021, 12:45 PM UTC

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

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

#3

Post by 4AoZqrH2fsk5UB » Wed, Feb 17, 2021, 1:06 PM UTC

nikivi wrote: post #2

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

Why do you think that is?

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

#4

Post by rmb177 » Wed, Feb 17, 2021, 1:22 PM UTC

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.

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

#5

Post by nikivi » Wed, Feb 17, 2021, 1:53 PM UTC

4AoZqrH2fsk5UB wrote: post #3

nikivi wrote: post #2

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

Why do you think that is?

No fees to send money due to 'better' consensus mechanism.

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

#6

Post by protoduction » Wed, Feb 17, 2021, 3:15 PM UTC

nikivi wrote: post #2

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

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.

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

#7

Post by washedup » Wed, Feb 17, 2021, 3:27 PM UTC

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

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

#8

Post by maps7 » Wed, Feb 17, 2021, 4:01 PM UTC

protoduction wrote: post #6

nikivi wrote: post #2

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

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…

Have you tried? I have bought stuff with cyrpto.

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

#9

Post by hggh » Wed, Feb 17, 2021, 4:27 PM UTC

Bitcoin Cash (BCH).

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

#10

Post by yigitcakar » Wed, Feb 17, 2021, 4:50 PM UTC

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.