27 Jun '14, 10pm

5 things you should know about Bitcoin's competitors

5 things you should know about Bitcoin's competitors

Most people have heard of Bitcoin, the biggest and most successful of the "cryptocurrencies." But there are dozens of other online payment systems, known as "altcoins," that have sprung up to compete with Bitcoin. Here are some facts about them. There are hundreds of altcoins One list counts 344 altcoins. Of course, some of these are extremely marginal. But there are 155 actively traded altcoins with a market value of at least $10,000. And 34 of them are worth more than a million dollars. One of the altcoins, Dogecoin, has managed to cut through the clutter by adopting a silly internet meme as its mascot. That helped its value to skyrocket in late 2013 and early 2014. It's now the fifth-largest altcoin, with a market value of $24 million. Most altcoins are tiny If you add up the value of all Bitcoins, the total comes to around $7.6 billion. That's more than 10 times the va...

Full article: http://www.vox.com/2014/6/27/5848990/5-facts-about-bitcoi...

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