ftfy
Topic: Altcoin Sub Fans... Time to Let Go of Your Altcoin and Buy Bitcoin - page 6. (Read 6326 times)
October 16, 2015, 02:39:13 AM
You mean Monero.
ftfy
ftfy
October 15, 2015, 11:04:39 PM
Alts are fun to play with and invest little amounts into. I think you would be crazy to not mainly hold BTC to begin with, though. I would never even consider having more than 5% of my crypto holdings in any alt besides maybe LTC.
October 15, 2015, 10:54:51 PM
^ Does it pay in Bitcoins?
It doesn't pay dividends. It acts as a standard cryptocurrency, having value in part because of the expense required to generate coins, and also gaining value as the difficulty rises and as the supply is spread to more people through increased adoption.
But NXT is cheap now, so you can burn your altcoins for BARR, sell them for NXT, wait for NXT to go up a little, and then sell NXT for BTC, with plenty of time left before next year's block halving and hopeful moonride to the Bitcoin lunar palace.
Or you can probably bypass the burn and redemption process - we will attempt to maintain buywalls for all accepted coins during the burn period, so that people who want to dump can dump to us on Cryptsy or Polo, and we'll burn those coins ourselves. Then they don't have to go to the trouble of exchanging for BARR and then dumping that.
October 15, 2015, 10:48:17 PM
^ Does it pay in Bitcoins?
October 15, 2015, 10:46:06 PM
Starting November 1st, it's time to let go of your altcoins and exchange them for BARR - Burning Altcoins for Redemption and Reduction.
BARR is traded on the NXT Asset Exchange, and it is the first coin to use Multi-Proof-of-Burn.
We believe that there are too many weak altcoins on the market, so we intend to get rid of them. We will target an altcoin for burn redemption, and we will attempt to burn so much of its supply that it cannot continue to be traded on exchanges. We will absorb each coin's users as they redeem their illiquid coins for BARR, adding value to BARR with each round of burn redemption, and using the exchange rate as the variable difficulty for a curve of emission over time similar to PoW block reward halving.
Just as burning bitcoins makes all remaining bitcoins more valuable, burning entire altcoin networks will make all remaining cryptocurrencies more valuable.
If a coin is able to survive our burn period, then it will emerge stronger than before due to its newly-reduced supply, and we have still accomplished our goal of eliminating weak coins.
The first burn period is November 1 to November 30, and the coins offered for burn redemption are Fractalcoin, Keycoin, and Sapience.
Please visit barr.me for more details.
BARR is traded on the NXT Asset Exchange, and it is the first coin to use Multi-Proof-of-Burn.
We believe that there are too many weak altcoins on the market, so we intend to get rid of them. We will target an altcoin for burn redemption, and we will attempt to burn so much of its supply that it cannot continue to be traded on exchanges. We will absorb each coin's users as they redeem their illiquid coins for BARR, adding value to BARR with each round of burn redemption, and using the exchange rate as the variable difficulty for a curve of emission over time similar to PoW block reward halving.
Just as burning bitcoins makes all remaining bitcoins more valuable, burning entire altcoin networks will make all remaining cryptocurrencies more valuable.
If a coin is able to survive our burn period, then it will emerge stronger than before due to its newly-reduced supply, and we have still accomplished our goal of eliminating weak coins.
The first burn period is November 1 to November 30, and the coins offered for burn redemption are Fractalcoin, Keycoin, and Sapience.
Please visit barr.me for more details.
October 15, 2015, 09:44:02 PM
meh
October 15, 2015, 07:38:02 PM
Update January 8, 2016:
DOGE mucho breakout.
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Update January 2, 2016:
Monero going for a breakout out of its range.
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Update December 29, 2015:
Bottom hit? Watch NXT. There's no breakout as of now, but t's good to put in your watchlist.
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Update November 24, 2015: Get ready folks. Bitcoin looks like it might go sub 300 again. I could be wrong, but it's a good time to get ready and know what to do in case that happens.
Some alts could see some spikes in the process. Good luck.
***************************************************************************************************************
Bitcoin is breaking out. Could this be it? I don't know, but it's worth letting go some of your altcoins and trade them for BTC.
Let's see where this goes.
DOGE mucho breakout.
***********************
Update January 2, 2016:
Monero going for a breakout out of its range.
*****************************************************************************************
Update December 29, 2015:
Bottom hit? Watch NXT. There's no breakout as of now, but t's good to put in your watchlist.
*****************************************************************************************
Update November 24, 2015: Get ready folks. Bitcoin looks like it might go sub 300 again. I could be wrong, but it's a good time to get ready and know what to do in case that happens.
Some alts could see some spikes in the process. Good luck.
***************************************************************************************************************
Bitcoin is breaking out. Could this be it? I don't know, but it's worth letting go some of your altcoins and trade them for BTC.
Let's see where this goes.
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