Diversification into alt coins. - page 3.

Hyena

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Quote from: GigaCoin on January 31, 2014, 02:32:46 AM

from the general alt scene i think Lotto holds promise as a lot of gaming sites are accepting it and a lot of games are being developed around it, if development continues in 1 year it might be the most popular gaming crypto out there.

What's so great about LottoCoin? They give random amounts of coins to miners which will make the price unstable. Why would I accept it as payment? That doesn't make sense. I'd say it's a bad coin.

GigaCoin

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Giga

Other than Bitcoin & Litecoin, i suggest targeting Crypto assets like Bitshares, Ethereum, CGB. Also anonymity based coins hold a lot of future like AnonCoin, StableCoin & ZeroCoin.

from the general alt scene i think Lotto holds promise as a lot of gaming sites are accepting it and a lot of games are being developed around it, if development continues in 1 year it might be the most popular gaming crypto out there. Doge has promise by its community that's very strong and growing really fast with no end in sight, plus they have a smart PR team.

Nxt Coin holds a lot of promise as pure POS but the phase where u would've gotten super rich is long gone, the price is also currently dictated by artificial scarcity.

bqxpd

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Quote from: HeliKopterBen on January 30, 2014, 08:01:57 AM

For those invested in Dogecoin. May I ask why? Some of the others may have some benefit such as Peercoin's POS but Dogecoin is and was intended to be a joke.

Joke or not, I invested 10% of my BTC in DOGE the week before last when I happened to notice it trending upward rapidly. Turns out by sheer luck I got in near the beginning of the biggest altcoin pump in some time, and was able to sell my DOGE last Monday at a more than a 400% profit, increasing my total BTC holdings by over 30%. That, my friend, is the best joke I've been a part of in some time.

aminorex

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Sine secretum non libertas

Lest anyone be deceived, it is a very inefficient "diversification" in the MPT sense if the assets are all highly correlated.

raid_n

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Quote from: Hyena on January 30, 2014, 10:43:05 AM

Quote from: raid_n on January 30, 2014, 10:14:31 AM

Quote from: Hyena on January 30, 2014, 07:51:03 AM

Quote from: El Dude on January 30, 2014, 07:34:35 AM

peercoin is centralized crap , nxt is a premined scam.

buy Litecoin

How is peercoin centralized? It's way better by design than by Litecoin. I was selling my litecoins to buy more peercoins.

The thing is that if you own a substantial amount of addresses that can mint PoS blocks they are more likely to be drawn.

The number of addresses shouldn't change anything. It's the total amount of coin age that you own that produces PoS blocks.

No, you need a random way of selecting who gets to "mine" the next PoS block or else the system becomes predictable
Here is the whitepaper : http://peercoin.net/bin/peercoin-paper.pdf
I believe some part/all of the previous PoW block is used and hashed to derive an address. If that address exists and has enough coin age it is eligible for minting a PoS block in which the owner pays out his own stake.

Note: thats why It is probably a bad idea to have multiple consecutive PoS blocks and a mixed approach is used. If Transactions are added you could theoretically try different combinations of transactions to create a block that, when hashed would also point to one of your other addresses.

Dafar

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dafar consulting

Yes.... bitcoin has been boring as fuck so I just let it sit. Instead of waiting for BTC's price to rise I just trade ALT coins to increase my overall bitcoin count. It's a lot more fun and ALTs are highly volatile

8 BTC in Coinbase
1 BTC in Cryptsy to ride the pump n dumps
80 LTC in BTC-E
6.6 million MEOW

Hyena

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Quote from: raid_n on January 30, 2014, 10:14:31 AM

Quote from: Hyena on January 30, 2014, 07:51:03 AM

Quote from: El Dude on January 30, 2014, 07:34:35 AM

peercoin is centralized crap , nxt is a premined scam.

buy Litecoin

How is peercoin centralized? It's way better by design than by Litecoin. I was selling my litecoins to buy more peercoins.

The thing is that if you own a substantial amount of addresses that can mint PoS blocks they are more likely to be drawn.

The number of addresses shouldn't change anything. It's the total amount of coin age that you own that produces PoS blocks.

raid_n

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Quote from: Hyena on January 30, 2014, 07:51:03 AM

Quote from: El Dude on January 30, 2014, 07:34:35 AM

peercoin is centralized crap , nxt is a premined scam.

buy Litecoin

How is peercoin centralized? It's way better by design than by Litecoin. I was selling my litecoins to buy more peercoins.

I personally do not yet fully trust that PoS can be properly relied on. PoW is much simpler.
If I understand correctly the addresses eligible for minting a PoS block are randomly drawn.
The thing is that if you own a substantial amount of addresses that can mint PoS blocks they are more likely to be drawn.
If every block that can get a reward would get it at the same time (in the same round where one round is a block being added to the blockchain) the relative wealth would not change.
Now If my block gets drawn first and I can mint enough coins to put into a new address and have that also minting I am at an advantage.

Small thought experiment:
I have two addresses that can mint with both of them having enough coins to produce a third address that can also mint.
You have one address that can mint and produce a new address. If I happen to be drawn first I produce an extra address, further reducing your chance to beat me in the next draw round.
Of course this is much more complex, the rewards are different and if you had a majority of wealth there would already be massive problems.
I'm not really good at stochastics and maybe I am missing something but I just don't feel comfortable with PoS yet.

Anyways, this is just my personal oppinion

WompRat

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Quote from: HeliKopterBen on January 30, 2014, 08:01:57 AM

For those invested in Dogecoin. May I ask why? Some of the others may have some benefit such as Peercoin's POS but Dogecoin is and was intended to be a joke.

I do like Doge. The joke and the logo and the continuous dumping of millions of coins, in my opinion form a clever repellent to most speculators and keep the price increases interesting, but not an 'Oh my God, I have missed the boat' turn off. I am investing purely because I think the community is growing faster than the price. If this continues for another few months Dogecoin could surprise almost everyone. The only advantage Bitcoin has is the network effect, everything else is easily duplicated and Bitcoin is not growing as fast as it should be at this stage of the game and that worries me a lot. Bitcoin is an elephant next to the Doge, but have you ever tried pushing an elephant up the stairs?

The other thing I would add is that getting my first bitcoins was a real pain in the arse. A year later and it is still a pain in the arse and a handful of ATMs are not going to change this quickly. If you want some dogecoins you are still able to mine them directly or you just post something on reddit - nothing much, but you are off and running in a few minutes and with no cost or risk at all.

VladWest

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I see more point into investing for those alts with real implementation value, such as lottocoin and sexcoin. Lottocoin might become a huge asset towards newer funding casino gigs without having to get a loan as a starting funding while sexcoin holds a potential to become an exclusive pay method for.... Well, a more of a red carpet entry to purchase "goods" off the adult industry

I think most people don't really give a damn for any technical alterations of the original source code needless to say. It's all about hype, integration and of it's implementation in the market.

TERA

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Quote from: HeliKopterBen on January 30, 2014, 08:01:57 AM

For those invested in Dogecoin. May I ask why? Some of the others may have some benefit such as Peercoin's POS but Dogecoin is and was intended to be a joke.

I'm not invested in Doge but I trade it to scalp extra btc. From what I saw it seemed to be a very successful marketing experiment and the community even raised $30K for a jamaican bobsled team. I'd imagine the investors there are in because they think that the success will continue and it's going even higher. Some of them even think they're doing some good for the crypto community by experimenting with different use cases, casual adoption by everyday people, and marketing techniques that bitcoiners haven't thought of or bothered with yet. Some of them claim "dogecoin is bitcoin the way it was intended to be used" - small decentralized transactions by every day people rather than all this talk about big merchants and wall street which bores them. It's like a nostalgic trip back to the early adopter phase when things were new, easy, and fun. Who knows , there might still be things to learn back there which we left behind. Ultimately these innovations will be brought back to Bitcoin and make Bitcoin stronger.

gentlemand

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Welt Am Draht

If enough people like the idea of turds wrapped in clingfilm as a currency, it would be a currency.

It appeals to people. You don't really need any technical fundamentals if that's the case. I don't have any Doge myself but it might end up surprising people.

HeliKopterBen

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For those invested in Dogecoin. May I ask why? Some of the others may have some benefit such as Peercoin's POS but Dogecoin is and was intended to be a joke.

Miz4r

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Quote from: El Dude on January 30, 2014, 07:34:35 AM

peercoin is centralized crap , nxt is a premined scam.

buy Litecoin

Litecoin has no real advantages over Bitcoin. I will only buy Litecoin to sell it quickly afterwards at a higher price. NXT may be premined but its distribution is actually less concentrated than BTC currently is.

Hyena

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Quote from: El Dude on January 30, 2014, 07:34:35 AM

peercoin is centralized crap , nxt is a premined scam.

buy Litecoin

How is peercoin centralized? It's way better by design than by Litecoin. I was selling my litecoins to buy more peercoins.

El Dude

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peercoin is centralized crap , nxt is a premined scam.

buy Litecoin

TERA

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Quote from: chessnut on January 29, 2014, 05:12:56 PM

That post about the $5000 bitcoins scenario made me think, should I have some litecoins?

At the NY meeting the Winkelvii mentioned that if Bitcoin is banned or crushed, an altcoin with a tumbled public ledger is likely to replace it.

What percentage of your bitcoins do you keep in alt coins such as peercoins, dogecoins, etc.....

Thanks for your thoughts.

None of the altcoins you mentioned have a tumbled public ledger or any advanced features like a decentralized exchange so none of them would serve as a hedge against Bitcoin in the scenario you mentioned. I would think of something more like NXT.

Miz4r

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Quote from: Hyena on January 29, 2014, 07:02:55 PM

Quote from: Dalmar on January 29, 2014, 05:35:12 PM

Quote from: chessnut on January 29, 2014, 05:12:56 PM

At the NY meeting the Winkelvii mentioned that if Bitcoin is banned or crushed, an altcoin with a tumbled public ledger is likely to replace it.

Zerocoin:

http://www.forbes.com/sites/andygreenberg/2014/01/13/bitcoin-anonymity-upgrade-zerocoin-to-become-its-own-cryptocurrency/

Seems interesting. I hope they will use PoS like Peercoin. Right now my personal belief is that once this whole crypto currency fever is over PoS coins will be dominant. In concept a PoS coin can have lower transaction fees than PoW coin and free market will then probably prefer PoS. Also the blockchain should be decaying so that very old transactions could be safely forgotten by the network.

I agree, PoW will probably become outdated in a few years from now when people realize how much energy is needed and wasted on securing the Bitcoin network while all of that can be done just as well (and perhaps even better) with a PoS coin. This is also why I have diversified into Nxt and PPC. I also own and mine some Dogecoins for fun but they aren't keepers for me, that hype will die down in a couple of months from now.

Hyena

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I'd recommend something like this:
40% PPC <- PoS overpowers PoW
30% BTC
20% LTC
10% NMC

edit:
however, I myself are not a perfect follower of this plan because I hold my stuff in cold storage so I cannot balance the percentages out very easily. I'm still 80% BTC and I think it's a safe bet.

Bitcopia

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Quote from: chessnut on January 29, 2014, 05:12:56 PM

At the NY meeting the Winkelvii mentioned that if Bitcoin is banned or crushed, an altcoin with a tumbled public ledger is likely to replace it.

I think the purpose of this statement is solely to reinforce the idea that banning bitcoin because it can be used for nefarious purposes is counterintuitive. It would push for a larger network effect into a protocol that uses a "tumbled ledger" that would have been otherwise reserved only for those seeking absolute anonymity. Whereas, by leaving bitcoin alone, or at least not banning it, you won't push legitimate users to such an extreme need for privacy.

Topic: Diversification into alt coins. - page 3. (Read 4942 times)