Topic: Newbies, stay away from altcoins. please - page 10. (Read 9229 times)

Preference:

Mine  -->  Altcoins
Invest USD  -->  Bitcoins

 

Also you just vouched for a guy that did exactly what your against, he names mastercoin and litecoin, probably both of those he has significant investment in.

So what happens when they buy in at $190 and it dips to $150 like it will do now? The point is it's your investment no-one elses, don't listen to these people because they have no idea about the market it's your choice and yours alone. These sorts of threads are designed to trip newbies up, because others don't want mass adoption of others alts at lower prices, they want to raise the prices of their BTC and they know that other alts can dominate BTC entirely. So my advice is don't listen to anyone and make your OWN decisions.

This is complete garbage, there needs to be at least a couple of alternative coins in the world if there is a transition to digital currency. Bitcoin cannot handle the complete demand of the world, this is ridiculous. Businesses are already working towards getting other altcoins established in countries and using them as a currency. There are advantages for altcoins such as cryptogenic bullion which acts like a building society with fixed interest rates, bitcoin does not have this feature. There are many more coins with extremely important features that bitcoin completely neglects, if we go the way of bitcoin is the only one then the monetary supply will always be fixed like it is now 1% have the most 99% have the least. There needs to be alternative currencies to let bitcoin thrive, they both need each other. The price of bitcoin dips like any other currency it goes up and it goes down, while bitcoin goes down, my alt coins remain stable there needs to be competition in the market place. The point is do your research if your just investing randomly in alts you are going to get burned, if you actually sit down look at investments and work out what people need and want you will not get burned. I can't actually believe people are saying don't invest in alternative currencies, it's like saying don't invest in Yen when there is USD.

I really don't mind mining alt coins. Investing money into it is one thing, but it doesn't really hurt much to mine a few alt coins. Some of the alt coin projects that are interesting are the ones that aren't simply clones and try new mechanics like Proof of Stake. Yes, many alt coins are merely pump and dump, but some are acting as proof of concepts to try and innovate crypto coin technology and I think those types are worth investing your hash rate into to see how well or poorly the new concept plays out.

Agree. High risk, high reward. Personally I made a few BTC speculating on PPC and Feathercoin, but you can just as easily lose all of it.

If You don't like it, don't use it.

I will collect LTC through faucets.

Some alts are ok but you need to be careful

Yeah, if MtGox can't get dollars out I don't think it would give that much of a boost to LTC.

I would preffer if MtGox start sending people withdrawals in timely fashion. For now, MtGox is big no no for me.

I wouldn't invest in Litecoin either, a lot of other altcoins are far worse though.

Something to read:
http://themisescircle.org/blog/2013/08/22/the-problem-with-altcoins/

I find it's only useful to own the alt-coins if your trading on the active markets and follow the bigfish (you have to know who has those large stashs of ltc).  There's ton's of market manipulation but you can make some good money if your sharp. 

I would never consider an alt-coin as a long-term investment, Bitcoin is the best for that hands down.  There may be volatility in it's price but it will increase heavily over time.

master coin and pp coin doing good aswell

Only invest in BTC and LTC. You can make good money with both

Yeah, Litecoin has even less traction than Bitcoin, and Litecoin's the most popular altcoin by a long shot.  There are a number of believers on here and I do think it can have further usability someday but as it stands, I think we would do better trying to get just one crypto-currency as common place before worrying about another, and Bitcoin takes the cake when it comes to familiarity.

i do agree with u guys but ist LTC an alt coin, and if i mine altcoins and i trade them, than i buy some LTC. How that could be wrong. IF some other altcoins have more proffitability than

I was always suspicious of Litecoins. I got the impression that people are hoarding them in hopes their value will jump like Bitcoin. Without active circulation I don't really see this happening for them.

litecoin can worth something atleast

Too late, I sold all my Bitcoin and put them into Litecoin.

Lost some money so far on that investment but I'm planning to hold for a long time so no worries yet. 

i have heard a lot people earning good on trading alt coin