All of the alt-crytpos are sliding down - page 2.

Aristotle

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Quote from: jhansen858 on May 12, 2013, 03:12:29 PM

I was having this debate with someone who was saying its the difference between gold and silver. One is not necessarily better then the other. I however, take the stance that Alt coins are really just riding off the success of bitcoin and in the end of the day, really serve no useful purpose. Can anyone name one feature that an alt coin can do that bitcoin cant? I don't really see minor differences in how many total coins exist, or the different mining strategies that are employed as features. Features are, send money electronically, etc ,etc.

PPCoin augments "proof of work" with "proof of stake" to secure the network which is much more efficient. So, all things being equal, transaction fees with PPCoin should be lower than Bitcoin. And I believe transaction confirmation times are half that as Bitcoin?

Freicoin has a 5%/year demurrage rate that goes to miners forever. So, this may encourage a more secure network, and lower transaction fees. The demurrage could also help increase monetary velocity.

I believe the only thing different with Litecoin is the hashing algorithm and faster confirmation times?

Zangelbert Bingledack

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Predicted a week ago. It was obvious that altcoins were in a bubble. Litecoin isn't useless (it is a backup/testnet/hedge for Bitcoin), but there is no way that its dev team, network, track record, and ecosystem are anywhere near 10% the value of Bitcoin's (LTC market cap was 10% that of Bitcoin).

johnyj

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Beyond Imagination

Not like some people thought, you can't copy bitcoin just because it is open source, just like you don't need many other types of dollar to pay your bill Wink

BTC Books

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The only alt-coin with any value distinct from bitcoin is Namecoin. You can actually do something with it that is unique - buy .bit domains.

The others are junk, and while they may have some slight utility in buying some very limited numbers of things, that's just for the moment. I see no future at all for any of them, once the alt-whales have sucked out the value from all of the unwary holders.

FTWbitcoinFTW

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Last 10 days !

amencon

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Quote from: Frozenlock on May 12, 2013, 03:46:22 PM

Quote from: amencon on May 12, 2013, 03:37:14 PM

I think his point was that the market of gold or silver accepting businesses are roughly equivalent (close to 0) but the same cannot be said for BTC and Alt Coins and so the comparison breaks down to a certain degree.

The comparison never held to any degree anyway.

There is physical/practical limitation to the divisibility of gold for day to day transaction.
Same thing with silver, which is why we also had nickel coins, copper coins, etc.

You can divide a cryptocurrency as much as you want.

Really, the comparison should have been crypto-b is like the Australian dollar to the crypto-a Canadian dollar.

Yeah true.

smoothie

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Quote from: tosku on May 12, 2013, 03:47:27 PM

I thought the alts were sliding because of the Vircurex hack.

Nope. They were sliding before that. Vircurex hack just help it move downwards a little more.

tosku

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I thought the alts were sliding because of the Vircurex hack.

smoothie

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I see no exchange for any of the crap coins recently launched for any fiat.

Litecoin at least has LTC/USD which in some cases unpegs itself from bitcoin to a certain extent allowing for another exit in bear markets.

Frozenlock

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Quote from: amencon on May 12, 2013, 03:37:14 PM

I think his point was that the market of gold or silver accepting businesses are roughly equivalent (close to 0) but the same cannot be said for BTC and Alt Coins and so the comparison breaks down to a certain degree.

The comparison never held to any degree anyway.

There is physical/practical limitation to the divisibility of gold for day to day transaction.
Same thing with silver, which is why we also had nickel coins, copper coins, etc.

You can divide a cryptocurrency as much as you want.

Really, the comparison should have been crypto-b is like the Australian dollar to the crypto-a Canadian dollar.

Odalv

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All alt-coins are only the try ... I'm poor, I cannot afford to buy 1 Bitcoin or to buy asic and mine btc. So let's try my own coin. I'll pre-mine alot of shit-coins and will make fortune. ... good luck ... :-) mine shit-coins as much as you want. Look for fools who will buy your shit-coins. Sorry, I'll not buy a one. :-)

amencon

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Quote from: Babylon on May 12, 2013, 03:31:45 PM

Quote from: jhansen858 on May 12, 2013, 03:22:38 PM

Of course the major difference here is that you generally cant directly spend silver and gold but you can directly spend bitcoins. So in my mind, that 100% removes the gold vs silver argument. You really cant directly spend alt coins and their only good for converting to bitcoins or cash. I just don't see any advantage of any kind that alt coins offer.

You can spend litecoins, on the Atlantis black market.

I think his point was that the market of gold or silver accepting businesses are roughly equivalent (close to 0) but the same cannot be said for BTC and Alt Coins and so the comparison breaks down to a certain degree.

Babylon

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Quote from: jhansen858 on May 12, 2013, 03:22:38 PM

Of course the major difference here is that you generally cant directly spend silver and gold but you can directly spend bitcoins. So in my mind, that 100% removes the gold vs silver argument. You really cant directly spend alt coins and their only good for converting to bitcoins or cash. I just don't see any advantage of any kind that alt coins offer.

You can spend litecoins, on the Atlantis black market.

jhansen858

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Of course the major difference here is that you generally cant directly spend silver and gold but you can directly spend bitcoins. So in my mind, that 100% removes the gold vs silver argument. You really cant directly spend alt coins and their only good for converting to bitcoins or cash. I just don't see any advantage of any kind that alt coins offer.

Babylon

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I'd say that silver is better than gold. It has more practical uses, and it is not so expensive as to keep those uses from being things it is used for. Gold is, basically, just expensive and durable.

jhansen858

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I was having this debate with someone who was saying its the difference between gold and silver. One is not necessarily better then the other. I however, take the stance that Alt coins are really just riding off the success of bitcoin and in the end of the day, really serve no useful purpose. Can anyone name one feature that an alt coin can do that bitcoin cant? I don't really see minor differences in how many total coins exist, or the different mining strategies that are employed as features. Features are, send money electronically, etc ,etc.

ElectricMucus

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I don't think this is a permanent thing, however the wide recognition that alt-coins were in a hype has lead to a correction overall.
I already said Bitcoin is a whale and altcoins are those little fish eating excess skin while keeping the whale healthy. The population has risen too much so that they start to starve, only the fittest will survive.

What I also would like to mention is since most altcoins can only be traded for BTC speculating with alts can be a dangerous game during bear periods. All altcoins are pegged to bitcoin....

EuroTrash

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Quote from: crazy_rabbit on May 12, 2013, 12:18:30 PM

They are sliding down *against* bitcoin. Which might mean that alt-chains are sliding down against Bitcoin. Meaning perhaps Bitcoin is reaching full network effect and regardless of what other advantageous new alt-coins might bring to the table Bitcoin is the winner.

Or simply that the get-rich-quick types are quietly heading for the door. Leaving the market in the hands of either stronger hands or actual users, depending what side your short-term bets are on.

crazy_rabbit

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They are sliding down *against* bitcoin. Which might mean that alt-chains are sliding down against Bitcoin. Meaning perhaps Bitcoin is reaching full network effect and regardless of what other advantageous new alt-coins might bring to the table Bitcoin is the winner.

UltimateReaper

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Quote from: randrace on May 12, 2013, 12:14:39 PM

How so?

I think he's saying that maybe we're entering an overall slump.

Topic: All of the alt-crytpos are sliding down - page 2. (Read 3972 times)