Topic: DogeCoin already bigger than Litecoin - page 4. (Read 8601 times)
Thanks for sharing this
If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
Read this article! I was actually going to post it in this thread because I thought FreeTrade inspired it. I was surprised QRK was left off too, but its fine seeing your reason.
I based my recent investments off these statistics. We'll see how QRK and Zeta do compared to the coins that need more money to maintain.
I agree with people saying Doge won't be able to maintain 1.3 mill a day, but the block halving is coming soon. Still, it would need to be getting as much money as LTC to maintain price with the halving. I think it will drop 30-40% or so and it could possibly maintain that price. Looks like a really bad medium term investment though
This article is quite interesting. However as an investment strategy we must check other issues too. Premined is an important problem, and this is a Quark concern.
An other cryptocurrency that may be worth be presented, and not described in the present article is extremecoin (EXC); The maintenance cost is around $70. This one has the quality to be a good investment too, sadly by now only BTER trades it.
Premine is more of a concern when trading a freshly minted coin. Quark has been distributed pretty well through natural market forces -- millions of QRK were being traded daily until it got big, and then 10 million QRK a day were being traded. Even if it isn't the best distribution (no one will beat Doge's distribution, and I will place a bet into an escrow if anyone wants to for that), it is distributed well enough relative to BTC, LTC, and PPC. I wouldn't be willing to invest in it if I thought a few people could easily crash the price (my concern with NXT).
There's a difference between perfect distribution (Doge) and sufficient distribution (BTC, LTC, PPC, QRK, NMC, PTS, MEC, WDC) and borderline scamcoin (Coinye, NXT, FairQuark).
But, I'm interested in hearing about Extremecoin. Is its main feature that its supposed to have a stable price? As in it is in a low-mining, low-maintenance cost phase? I think that as long as their is a 'decent' dev team behind these kinds of coins, they will be safe investments.
Yeah the article really help.
If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
Read this article! I was actually going to post it in this thread because I thought FreeTrade inspired it. I was surprised QRK was left off too, but its fine seeing your reason.
I based my recent investments off these statistics. We'll see how QRK and Zeta do compared to the coins that need more money to maintain.
I agree with people saying Doge won't be able to maintain 1.3 mill a day, but the block halving is coming soon. Still, it would need to be getting as much money as LTC to maintain price with the halving. I think it will drop 30-40% or so and it could possibly maintain that price. Looks like a really bad medium term investment though
This article is quite interesting. However as an investment strategy we must check other issues too. Premined is an important problem, and this is a Quark concern.
An other cryptocurrency that may be worth be presented, and not described in the present article is extremecoin (EXC); The maintenance cost is around $70. This one has the quality to be a good investment too, sadly by now only BTER trades it.
Bigger in volume but not in price.
If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
Read this article! I was actually going to post it in this thread because I thought FreeTrade inspired it. I was surprised QRK was left off too, but its fine seeing your reason.
I based my recent investments off these statistics. We'll see how QRK and Zeta do compared to the coins that need more money to maintain.
I agree with people saying Doge won't be able to maintain 1.3 mill a day, but the block halving is coming soon. Still, it would need to be getting as much money as LTC to maintain price with the halving. I think it will drop 30-40% or so and it could possibly maintain that price. Looks like a really bad medium term investment though
Bitcoin=Gold
Litecoin=Silver
Namecoin= Bronze
Litecoin=Silver
Namecoin= Bronze
42coin=Platinum?
These are new coins and may decline. With the exception of Doge the older ones may be more interesting as a long term investement: Franko, Fastcoin, Megacoin..
And 42coin, is a quite well premined coin:10000 blocks (5 full day premined). You can see the issue in the sources:
int64 nSubsidy = 0.000042 * COIN;
....
if(nHeight == 1)
{
nSubsidy = 0.42 * COIN;
}
This one is quite useless...
Bitcoin=Gold
Litecoin=Silver
Namecoin= Bronze
Litecoin=Silver
Namecoin= Bronze
42coin=Platinum?
If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
I'll take that as a compliment - although a link and reference would have been nice.
You've only seen half the story though . . . a coin with low maintenance needs to answer how it is going to prevent doublespends/51% attacks.
You're right about CGB - good call on that one.
It looks like you deliberately left QRK out - any reason why?
Thanks. Sorry about that. I was writing this up late last night. I thought I had credited this thread for the idea in the article.... I just added it now. My apologies.
The reason QRK was left out was... again, because it was late, and I got confused with the numbers and rewards since they half so frequently. I chose to simply omit the coin rather than post faulty information. However, today is a new day and I have recalculated it and posted the numbers. It's now on the list.
For the same reason, I did not add Primecoin (the rewards were too complex to calculate, and a few others which I cannot remember). EAC numbers may be skewed as well, I simply took the daily average from the last 24 hours.
If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
I'll take that as a compliment - although a link and reference would have been nice.
You've only seen half the story though . . . a coin with low maintenance needs to answer how it is going to prevent doublespends/51% attacks.
You're right about CGB - good call on that one.
It looks like you deliberately left QRK out - any reason why?
Zeta has got my vote. Just be patient.
A lot of people are saying the same, I bought quite a few at a low price, going to hang onto them fore sure.
If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
Good reading, thanks
If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/
This is a nice approach but we should not forget that not all mined coins are instantly being sold at exchanges. If people who mine coins hold them, less money will be needed to maintain price level.
I look at it a different way.
Let's say I mine a coin, say $10 on a VPS and I make $100 worth of DOGE. That's $90 profit.
If I choose to keep that $100 in DOGE, i'm now not a miner, but an investor . . I've invested my $90 profit plus $10 outlay in DOGE.
Not all miners are investors, not all investors are miners.
As I said earlier, you dont need 1 million to maintain the price. Also 33%+ of dogecoins that will ever exists are already mined.
hi freetrade, does this mean memory coin has less potential than zetacoin as per your analysis ? also why do u think memory coin is having a hard time gaining value at the moment. thnx
Well, it's not an analysis - it's a table of numbers.
You'd be wrong to think that a low number is necessarily a good thing - if there are low transaction fees in combination with a low block reward, it means that only a small amount of power is being used to secure the network, and the coin is vulnerable to double spends and 51% attacks.
A large number needs context too - you can imagine 3mil/day being invested into Bitcoin, but its difficult to imagine 1mil/day pouring into Dogecoin for the forseeable future.
As for Memorycoin - $10,000/day flowing into the coin is pretty good for a new coin - we've got very high inflation while we get the initial coins issued - expecting the price to rise as the block reward falls - it's a slow burner.
Not all new coins are sold every day. So the price to maintain the current price level is much smaller than the one suggested here. Nevertheless it is good data to look at.
I agree with the two posters above ^^
Namecoin is a dying brand. Its just been dropping these last few days. I can think of many better investments.
Personally, I don't see many of these coins lasting. I don't think BTC should be #1, LTC shouldn't be #2.. Doge actually deserves its spot, although I definitely don't see it as having long term potential because its just an LTC with a meme-based culture creating a community. That said, I love Doge. Doge has brought so many to the crypto scene who will soon see the light.
In terms of how to find a coin to invest in: I say use OP's main chart as a guideline to show how quickly each community needs to grow in order to be a reasonable investment. Many of these coins cannot grow that fast, and many of these coins will grow faster.
I also like investing in terms of functionality and I feel like the mining processes for the coins creates unique traits, so I like my portfolio to be split into - ASIC mined, GPU mined, and CPU mined.
Namecoin is a dying brand. Its just been dropping these last few days. I can think of many better investments.
Personally, I don't see many of these coins lasting. I don't think BTC should be #1, LTC shouldn't be #2.. Doge actually deserves its spot, although I definitely don't see it as having long term potential because its just an LTC with a meme-based culture creating a community. That said, I love Doge. Doge has brought so many to the crypto scene who will soon see the light.
In terms of how to find a coin to invest in: I say use OP's main chart as a guideline to show how quickly each community needs to grow in order to be a reasonable investment. Many of these coins cannot grow that fast, and many of these coins will grow faster.
I also like investing in terms of functionality and I feel like the mining processes for the coins creates unique traits, so I like my portfolio to be split into - ASIC mined, GPU mined, and CPU mined.
Namecoin is the only coin nobody has been able to clone successfully till now.
And it's the only coin with a second purpose.
Probably you don't have a clue what namecoin is about.
This is a nice approach but we should not forget that not all mined coins are instantly being sold at exchanges. If people who mine coins hold them, less money will be needed to maintain price level.
An interesting question for all coins is -
How much does it cost to maintain the coin at its current price level?
It gives you an idea of how much money is currently flowing into the coin, and resources being used to secure a coin's network. It's easy to work out - you take the current price and multiply it by the number of new coins created each day. I've compiled a list and it currently has some interesting coins at the top, and some interesting coins at the bottom - here it is
Top Coins
Bitcoin - 800x25x6x24 = 2.880M
DogeCoin - 0.0018x500000x60x24 = 1.296M
Litecoin - 20.57x50x24x24 = 0.592M
Mooncoin - 0.00019x1000000x40x24 = 182,400
Peercoin - 4.53x114.44x6x24 = 74,651
ProtoShares - 10.20x16.177x12x24 = 47,521
WorldCoin - 0.29x53x120x24 = 45,792
Primecoin - 2.65x10x60x24 = 38,160
Namecoin - 4.88x50x6x24 = 35,136
Feathercoin - 0.27x200x24x24 = 31,104
Novacoin - 12.72x9.3x6x24 = 17,034
MemoryCoin - 0.20x216x10x24 = 10,368
Megacoin - 0.57 - 25x24x24 = 8,200
DigitalCoin - 0.2510x15x90x24 = 8,100
Devcoin - 0.00059 - 50000x6x24 = 4240
Bottom 3 'Big' Coins
IFC - 8.3e-05 - 4096x120x24 = 979
Quark - 0.074 - 4x120x24 = 852
Zetacoin - 0.02 = 4x120x24 = 230
*Let me know if I've missed any - just looked at the top20 and the ones i'm interested in.
How much does it cost to maintain the coin at its current price level?
It gives you an idea of how much money is currently flowing into the coin, and resources being used to secure a coin's network. It's easy to work out - you take the current price and multiply it by the number of new coins created each day. I've compiled a list and it currently has some interesting coins at the top, and some interesting coins at the bottom - here it is
Top Coins
Bitcoin - 800x25x6x24 = 2.880M
DogeCoin - 0.0018x500000x60x24 = 1.296M
Litecoin - 20.57x50x24x24 = 0.592M
Mooncoin - 0.00019x1000000x40x24 = 182,400
Peercoin - 4.53x114.44x6x24 = 74,651
ProtoShares - 10.20x16.177x12x24 = 47,521
WorldCoin - 0.29x53x120x24 = 45,792
Primecoin - 2.65x10x60x24 = 38,160
Namecoin - 4.88x50x6x24 = 35,136
Feathercoin - 0.27x200x24x24 = 31,104
Novacoin - 12.72x9.3x6x24 = 17,034
MemoryCoin - 0.20x216x10x24 = 10,368
Megacoin - 0.57 - 25x24x24 = 8,200
DigitalCoin - 0.2510x15x90x24 = 8,100
Devcoin - 0.00059 - 50000x6x24 = 4240
Bottom 3 'Big' Coins
IFC - 8.3e-05 - 4096x120x24 = 979
Quark - 0.074 - 4x120x24 = 852
Zetacoin - 0.02 = 4x120x24 = 230
*Let me know if I've missed any - just looked at the top20 and the ones i'm interested in.
hi freetrade, does this mean memory coin has less potential than zetacoin as per your analysis ? also why do u think memory coin is having a hard time gaining value at the moment. thnx
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