Topic: Motivation to buy ALT-CryptoCurrencies (Alt-CC)? (Read 409 times)
Thank you guys for sharing your thoughts. I will be just happy to mine some of them and see what happens. Of course, I have several favourites based on my thinking not far away from your opinions.
Well a few observations can be made:
Like e-mail is to mail, digital currency is to fiat money.
The fact that the majority of transactions will at some point in the future be digital is extremely likely, I'd put it close to 100%. However, the chance that Bitcoin will become and remain a long-term significant currency is much smaller, e.g. a 50/50. That means there's a good chance another digital currency will become popular. That's why some people invest in it when you can buy a thousand coins for a dollar, if any of these coins ever become worth a single dollar each, 1/800th of the price of a bitcoin, that's a massive profit.
Most of these currencies will simply fail, while others have interesting benefits that Bitcoin doesn't have. (faster transactions for example). Generally though, none of them can deliver on what's needed: momentum, a strong and innovative protocol a large fully decentralized network & ownership, massive user & merchant adoption, favourable opinions from government & media, a strong protocol and barely any monopoly benefits to the founders.
Like e-mail is to mail, digital currency is to fiat money.
The fact that the majority of transactions will at some point in the future be digital is extremely likely, I'd put it close to 100%. However, the chance that Bitcoin will become and remain a long-term significant currency is much smaller, e.g. a 50/50. That means there's a good chance another digital currency will become popular. That's why some people invest in it when you can buy a thousand coins for a dollar, if any of these coins ever become worth a single dollar each, 1/800th of the price of a bitcoin, that's a massive profit.
Most of these currencies will simply fail, while others have interesting benefits that Bitcoin doesn't have. (faster transactions for example). Generally though, none of them can deliver on what's needed: momentum, a strong and innovative protocol a large fully decentralized network & ownership, massive user & merchant adoption, favourable opinions from government & media, a strong protocol and barely any monopoly benefits to the founders.
Even tough almost no one accepts Alt Currencies as they are, you can convert them into Bitcoin and then into Fiat currency at any time.
Why buying alt currencies instead of bit coin? i think speculation of course. You sell your BTCs for, let's say, DevCoins, expecting them to have a better performance than BTC.
Why buying alt currencies instead of bit coin? i think speculation of course. You sell your BTCs for, let's say, DevCoins, expecting them to have a better performance than BTC.
As an alternative-cryptocurrencies newbie, I just can not found out a proper answer to this question - what is the motivation of poeple who are buying various (mostly unknown) alt-CC? I can hardly find any buisness which accepts these Alt-CC?
Thank you in advance for discussing.
Thank you in advance for discussing.
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