The future of Goldcoin (and altcoins in general)

A digital currency is only as strong as its community. A coin can’t survive without developers, users and passionate advocates. I got a chance to ask one of GoldCoin’s (GLD) biggest fans, NuggetGal, a handful of questions recently via email. I think the answers say a lot not just about the future of GoldCoin, but other altcoins, too.

Q: How can an altcoin stand out in a market where there are nearly 575 coins listed on CoinMarketCap?

A: Goldcoin is one of those coins that has a professional aspect to it – from the community to the dev team. It’s also one of the original cryptocurrencies. When it was first added to Coinmarketcap.com in May 2013, I believe there were only around 35 coins listed!

Goldcoin has proven that it is here for the long run with strong development support after a year and a half. Amir Eslampanah (aka Akumaburn) is the lead developer of Goldcoin. He’s also the inventor of our unique 51% attack defense system, and he is currently develpoing a new codebase that is being prepared for Goldcoin.

The new codebase will be written from scratch and include features we haven’t seen in crypto before. Soon, GoldCoin will no longer be a fork of BTC or LTC. And with the upcoming wallet being a multicoin wallet, Amir is moving GoldCoin to a whole new level.

Jason Swart, also known by kreno777, says “GoldCoin is a unique coin (…not a Clone), with a supportive membership (The Goldcoin Family) and excellent development (The New Multi-Coin Wallet). … I can stand up for it and say, ‘I believe in it’ and feel positive about sharing it to my fellow South Africans.”

That’s exactly what he started doing. I believe GoldCoin has a great chance of becoming popular in South Africa in the international money remittance market. Then, once we get our legs in SA, we can turn our marketing efforts to the West!

Here in the GoldCoin community, we know GLD has been a sleeper coin. The time had not been right for it to take a stand to maintain a specified position in the cyrptocurrency market. But all the hard work that Amir has put in on creating new developments has opened the doors for GoldCoin to take a strong position in the cryptocurrency market moving forward.

Q: Does GoldCoin have plans to utilize any other coin chains (i.e. Ripple or sidechains)?

A: GoldCoin at this time does not intend to use any side chains, but the new client will support multiple coins/chains in a single wallet.

Q: Do you believe there’s room for more than 1 or 2 coins to be around in 50 years?

A: Absolutely. Currencies are not one-size-fits-all. One must think about the target user audience and meet them where they are at. Currently, most countries either have their own currency or they share currencies with another nation that they have ties with.

We also see different types of currencies like Community Currencies being used (the Bristol Pound is a great example). Companies like Canadian Tire also produce their own coupon/money system and other companies accept the Canadian Tire coupon/money as a form of payment.

GLD would like to serve a niche. The Cook Islands, for example, has a niche in offshore finances. We’d like our niche to be a crypto-currency that provides a private banking network – that is a decentralized banking system running on its own block chain with strong security and privacy without all the red tape. It’s convenient, fast and always open from anywhere in the world. There’s room for a lot of niches, so there is most definitely room for more than 1 or 2 coins to be around in 50 years.

Q: I know you held a GoldCoin conference in South Africa recently. How many people showed up?

A: There was enough seating for 70 people. I don’t think there was a headcount but there was
enough to get Jason excited and busy for the next GoldCoin conference in South Africa. The responses we have been getting for our next conference looks like it’s going to fill up quick.

Q: What were the highlights from the conference?

A: There were many highlights: First, the introduction of GoldCoin – one of the original crypto currencies – how GoldCoin is unique in security with it’s “51% Attack System,” something people said couldn’t be done to protect investors and miners.

They also announced the new multi-coin wallet coming out, and how you can multi-mine directly from the wallet. More features will be added that won’t be revealed until it’s released. It will be a wallet that unlike any other wallet with its own unique abilities.

I also contacted Jason about his first South Africa Conference and I’m adding his response:

“What I basically have done is worked out a simple method for people to get invested into GoldCoin. Mining can be difficult for people to understand and knowing how to go about changing currency can be confusing for people. My basic principle here is to drive a car, you don’t need to know how the engine works. All you need to do is be able to get into the vehicle and drive it. This is the same for GoldCoin. I help them invest into Goldcoin, generate the coins for them and setup and give them basic instruction on using the Desktop and Mobile wallets. The conference was very well received with people saying it was easy to understand. Some people also took the printed materials I supplied for them to read through and to show to other possible investors. Most people were very impressed with how fast the transfers where made. There was a good attendance. There’s excitement about the next event. The next venue will be much more heavily marketed, including radio, newspaper and Facebook marketing. I have also put together a Google+ website with details for upcoming conferences, including videos, documentation and pictures at Goldcoinsa.ddns.net.”

Q: What do you see as the big trends for crypto in 2015?

A: The propaganda war against BitCoin/crypto-currency by big banks and credit card companies will begin to rage.

Q: What do you think was the biggest news about crypto in 2014?

The announcement that PayPal would begin integrating bitcoin into its payment platform. News that the Winklevoss twins launched Winkdex, a financial index that tracks the price of bitcoin, was big, too. This shows how crypto-currencies are building a solid foundation for the future.

Q: Where do you predict the price of GoldCoin will go next year?

A: I anticipate the price of GoldCoin reaching $1.00 before the close of 2015.

Many thanks to Jason NuggetGal for taking time to do this interview. To learn more about GoldCoin, check out Goldcoin-gld.com.

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