[Cryptocurrency] Is it more secure to use Cryptonite over Bitcoin?

I'm just kind of laying out the balance of how much more secure Cryptonite is over Bitcoin.

Cryptonite is the first PoW-based cryptocurrency, It also uses a nice varying algorythm.

But the nicest thing about it is... No everlasting blockchain. The client only downloads a portion of the blockchain, so if LE is late to the party and there's no service that has been willing to lay down the history of the entire blockchain, they're pretty much fucked in the sense that they can't trace transactions.

I'd say that this cryptocurrency, despite still actively being in development, serves better as an "underground cash" than bitcoin.

What's your opinions on Cryptonite, yay or nay?


Comments


[3 Points] iLoveDNM:

One of the things that makes bitcoin so useful and successful is the number of people who accept it. With no real value any type of cryptocurrency won't take off. Bitcoin had the benefit of being first to the party, they got a good portion of the marketshare regardless of the relative merits of the different currencies.

I wouldn't count on depending on the partial blockchain thing; look at torrents. There's no way that anybody can look back and see who was downloading something last month, right? Wrong! There are companies that specialize in tracking this sort of thing, keeping records of what otherwise would have been an ephemeral data point. All it would take would be a dedicated archiving server to keep a copy and you lose that benefit.


[2 Points] rappercake:

Might as well be pushing cloakcoin or darkcoin at this point, nothing is going to top BTC.


[1 Points] throwahooawayyfoe:

What's your opinions on Cryptonite, yay or nay?

if i was a vendor, why would i want to stop accepting something that's easily liquidated and has a commonly accepted agreed upon value for something that nobody's agreed yet has any sort of value whatsoever?