Topic: Best <insert name>coins to speculate on - page 2. (Read 3307 times)

It does. But tatsuchan mentioned before, that it faces some serious problems:


I really dont understand yet the scope of namecoins feautures and mechanics that seperate it from bitcoin. May someone with a better understanding please give a bit of an explanation?

@ tatsuchan: Could you please explain a little bit more, why namecoin may fail in the longrun and how big those problems you see may be(come)? Why is namecoin in your oppinion inferior to the established domain system and cannot its "impossible-to-close-down" nature make up for any monetary expenses?


What could such projects be? Any in the pipeline? nameterrific.com?

Sorry buddy, but you are wrong. The block generation rate does not stay the same over time. It averages 10 minutes (for bitcoin) or 2.5 (for litecoin), but differs from that mean nearly always. When more blocks are mined in the same timeframe, more coins are produced. The difficulty is readjusted every 2016 blocks (in both bitcoin and litecoin). If it takes more then 2 weeks in bitcoin or 3.5 days in case of litecoin to mine those 2016 blocks the difficulty is lowered, if it takes less it is increased.
Now imagine a big addition of hashpower to the network: The remaining blocks of that cycle till the 2016th will be mined much faster then before the addition of extra hashpower, because difficulty stays the same and the network is more powerful now (smarter to solve a block, you could say). Only with the 2017th block mined, difficulty is readjusted towards the desired average of 2 weeks (BTC) or 3.5 days (LTC) for 2016 blocks to be found.

Links:
https://en.bitcoin.it/wiki/Difficulty
http://www.coinconnect.org/pages/view/31636/comparison-between-bitcoin-and-litecoin

I may have overlooked something, but I am quite sure that is how it works, please correct me if Im wrong.
Cheers

I'd say namecoin of course because it has the most potential and is really different from bitcoin with additional features.

with the next namecoin based project the price might jump.

edit: also it is the only alternacoin that is being merge mined, making it potentially safer than the others - were all bugs fixed

You still don't seem to understand how difficulty adjustments work, do you? There will always be the same amount of Litecoins mined at any given time. Just as it is with BTC.

Don't underestimate those types. Something on the level of stuxnet released in order to grab all possible btc not in secure storage and boom they can do whatever they want with the price. That is assuming stuxnet wasn't a hoax in the first place in order to spark some fear.

As long as bitcoin is never regulated...which I can't ever see happening, bitcoin will never have a price surpression. The free market will give it value.

All currencies have their problems.  I think the big thing with gold is it's fluctuating dollar point and the way the government treats it.  Bitcoin will certainly see issues like this.  I find it interesting and hopefully profitable.

You mean a relationship like the one between freicoin and bitcoin is intended?
Dont you think if gold was more easily to handle physically and easily divisible like bitcoin is, people would trade it for goods just like dollars? I as a merchant would even prefer that over fiat. People would probably rather hold gold in their purses than USD. The only problem is, that it is too heavy to carry around and so difficult to pay for goods of minor value with it.

LOL. Some services might be deemed untrustworthy

You mean Bitcoinica?

Everyone seems to forget that Litecoin is a fork of Bitcoin.  All the troubles Bitcoin had paving a way is laid out before Litecoin.  Services that were built, hacked, tested, re-tested, hacked again, and are now stronger then ever can all easily (well a lot easier then from scratch) integrate Litecoin.  People that were won over by Bitcoin will quickly understand what Litecoin is.  

With ASIC's around the corner, and Bitcoin rising in value, investing and buying with Bitcoin doesn't make as much sense to the casual user.  Why would I spend 100 Bitcoins for a service if those 100 might be worth much more in a year?  Many people have this mentality.  Not saying it is realistic, or healthy, but that is a speculation among users.  Litecoin will more then likely become the "usable" currency were as Bitcoin will probably end up being an investment stock.  Just like you'd horde gold and spend your dollars.  

It is realistic to point out that most Litecoin users are Bitcoin users as well.  Litecoin will help Bitcoin's value as it was built with the intentions of being in a symbiotic relationship with Bitcoin.  I couldn't see Litecoin lasting a month if Bitcoin went under.  With the ASIC's I can already see many miners (including myself) getting alienated out of the mining game.  Can you guess how I'll be getting my Bitcoins now?  Litecoin exchange.  Again, supporting the Bitcoin with Litecoin as a currency.  I'd say Litecoin becoming the 1/4 value of Bitcoin isn't that farfetched as long as things go perfect.  Realistically, I could still see Litecoin making some cash, especially for the early investors.

As far as the other coins.  Anything previous like tenebrix or solidcoin has failed.  It took some failures in order to launch a good alt coin.  Solidcoin never understood the purpose of a p2p currency.  It seemed like Microsoft points or something that represents money without any real community value or capital backing it.  Too shady for me to get invested when I found out about it 8 months ago....and thank God I did stay away.  Namecoin is one of those ideas that are great, but fail.  I REALLY want to see a different domain structure, but the internet is commercialized now.  I'm skeptical that this will work for most commercial sites.  Most people don't want a wikileaks.  They want a buy-my-shit-cheap.com website.  It has to attract visitors, has to answer to local laws, has to keep track of sales and user info in order to sell you more cheap shit, and most importantly, it is often set up my some cookie cutter program for some middle-aged guy trying to make a dollar on that newfangled internet thing.  How are they going to know what namecoin and .bit is when most of us barely understand it?  The only reason anyone cares about namecoin at this point is because at it's heart it is a good idea, but really, you get it free while bitcoin mining. They remind me of the free small french fry tokens you get at McDonalds when they do the Monopoly game.  You're like "Neat, free fries" and they lay around your wallet until they expire.

It used to be cpu only, but a gpu miner was released (reaper) a few months back. Now there is cgminer for it now too.

i think litecoin is CPU mining only.

some high end cpu is best for litcoin

i thought i read that somewhere

Yes an no.

Very short time (The inital rush plus one half difficulty adjustment on average) this will create more inflation and so more selling pressure. But mid term it is a bullish sign since the more miners are pushed into it the less LTC one gets and because every miner is a potential user of the currency it will make it more valuable. In the long run however it will depend on fundamentals like services and goods offered for it.


The most interesting thing about litecoin is the strong opposition focused on it. Not on it specifically but on the general principle of alternate blockchains.
(Insert appropriate Gandhi quote here.)

Bull:
Of all the alt-coins the one that I hold is Namecoin, mainly because I get it as a by product of Bitcoin mining. One scenario that could see the price of Namecoin rising sharply is the MPAA/RIAA getting SOPA 2.0 passed in the United States, as this will be seen in the market place as increasing the risk of a domain seizure in the ICANN network and generate a lot more interest in Namecoin.

Bear:
As for selling short the only one I would possibly consider is Solidcoin / Microcash.

Interesting. I think I won't buy a few.

No it doesnt. It only means, that the bottom price for 1 LTC will be whatever it costs to mine that 1 LTC value equivalent (speak USD or BTC). Increasing the hashrate by manyfold, while the difficulty has not picked up yet also means very many LTC will be mined in that relatively short period of time, raising the total supply for that period. A price drop is much more likely then a price surge, because those extra LTC can be sold shortly thereafter. They may be held nonetheless and sold later, when prices stabilize or go up for any unrelated reason.

Does this mean litecoins value will increase? I can't imagine how hash-power should affect value?

Interesting. I think I'll buy a few.

In my opinion once asic hit, all gpus will be targeted on litecoin.  Just a hunch.