I dont like the top font at all, though the second one is nice, but like Spook said, it all depends on the overal layout. The write text can really improve a design, therefore it would be easier for us if you could show us the whole design where the text is going to be placed.
I think first one is better, if you add some layer effects to it. For example, a simple 1px inner border that almost matches your text color, a black/white 10-15% gradient overlay with mode set to luminosity, maybe a small shadow.
Have to go with the first one. CyberAlien had some great suggestions.
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I think the 2nd one is more unique, as long as that goes with the theme of your other text, otherwise it may look out of place.
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