Topic: Purchase and hold some alt coins with play money - page 2. (Read 2210 times)
Think about what practical uses other coins have. In theory, darkcoin and monero are more private. In practice, bitcoin is exactly as private as you want it to be. There is no point other than speculating on other peoples ignorance (which, granted, can be a worthwhile bet at times).
you can make good money on some, i just checked back to bittrex and saw a coin which i thought was dead had jumped up to 0.006, i unfortunately dumped my bag a few months ago, but it could have made me around 14BTC from 0.1BTC investment. 
The unfortunate reality is 90% of the Alts are created for only 1 purpose. To separate the gullible from their BTC. It's very sad to say though. Just remember very few actually have a dev team that is trying to make something better.
My suggestion: do your own research on the altcoin coz asking for advice in the internet is a terrible idea, you don't know if they're saying is for their advantage or yours..
better to hold just bitcoin right now, the situation is looking already bad for the cryptoscene, owning many coins could only lead in a loss even without day trading
Only buy a coin with strong development team and has been out for some time to establish a good track record. Most altcoin will disappear a few month after launch.
The only crypto worth holding is only bitcoin.
Correct. My advice will also to be holding Bitcoin only, especially the Litecoin have been controlled by Chinese, this coin is old and backward anyway.
having personally a good deal of experience in the "alt" trading world , my best advice is that most of the "alts" (anything that's not btc) live fast and die hard in terms of price.
most are created with the express intent of pumping and dumping these coins on willing participant exchanges - you can sign up for one such market (cryptsy) in my signature - there you can find literally hundreds of "alts" to convert your btc into.
other "trusted" options for alt exchanges include poloniex and bittrex.
if you plan on buying and holding , do not hold the coins on any of these exchanges that allow you to trade alts - they could disappear tomorrow.
also - if you're looking at obscure coins , try to at least find ones which are traded on more than 1 of these exchanges - coins on these exchanges are delisted and the exchanges themselves have been known to shutdown so it's a good thing if you can re-sell your alt-coins on more than 1 exchange.
litecoin and darkcoin are considered relatively decent frontrunners of the alt-coin world.
other relative oldies include namecoin and peercoin.
some of the alts cost only hundreds of satoshis (the smallest denomination of btc 0.00000001) - some can actually be obtained in the single digit satoshi land - these are almost universally considered junk , but as with all of the alt-coins , the possibility of using btc to pump the price up and then sell for profit exists.
if you're not doing the pumping of the price , or getting in on a coin the day it's listed , it will be near impossible to make anything on your purchases.
it is fun owning 1,000,000 of something when it costs you 50cents , even if it is total crap.
also each and every one of the alts has their own announcement thread if you look for it , and you may be able to gather some information regarding the current level of ongoing development / commitment to said alt , which is a good way to attempt to sort the shit from the crap.
goodluck
most are created with the express intent of pumping and dumping these coins on willing participant exchanges - you can sign up for one such market (cryptsy) in my signature - there you can find literally hundreds of "alts" to convert your btc into.
other "trusted" options for alt exchanges include poloniex and bittrex.
if you plan on buying and holding , do not hold the coins on any of these exchanges that allow you to trade alts - they could disappear tomorrow.
also - if you're looking at obscure coins , try to at least find ones which are traded on more than 1 of these exchanges - coins on these exchanges are delisted and the exchanges themselves have been known to shutdown so it's a good thing if you can re-sell your alt-coins on more than 1 exchange.
litecoin and darkcoin are considered relatively decent frontrunners of the alt-coin world.
other relative oldies include namecoin and peercoin.
some of the alts cost only hundreds of satoshis (the smallest denomination of btc 0.00000001) - some can actually be obtained in the single digit satoshi land - these are almost universally considered junk , but as with all of the alt-coins , the possibility of using btc to pump the price up and then sell for profit exists.
if you're not doing the pumping of the price , or getting in on a coin the day it's listed , it will be near impossible to make anything on your purchases.
it is fun owning 1,000,000 of something when it costs you 50cents , even if it is total crap.
also each and every one of the alts has their own announcement thread if you look for it , and you may be able to gather some information regarding the current level of ongoing development / commitment to said alt , which is a good way to attempt to sort the shit from the crap.
goodluck
There will be a surge of people telling you which new alt is the best and it will rise 10 times or more next month. What they will not tell you is they are in it for the pump and dump. The only crypto worth holding is only bitcoin.
Hi All,
I'm new to the crypto currency (cc) world. I have a little bit of play money to buy and hold some various cc's. ("Play money" means a small amount relative to my total assets so I don't care if I lose all the play money.)
I've been listening to some cc podcasts and reading some cc articles. My simple minded plan is to buy and hold some bitcoin, darkcoin and litecoin. I have some bitcoin and I'm in the process of getting some darkcoin.
What other cc's would you suggest I purchase? Litecoin? Others? Any suggestions would be appreciated. If you can offer a sentence or two to support your suggestion, that would be great. That way I'll learn what to look for re cc investing.
What are the best sites to learn about cc investing? The cc podcasts I'm listening to are giving me a general idea of the cc universe.
I do not plan to do any day trading or anything like that. I just want to buy and hold long term and see what happens. If any holdings go 10x I may sell.
Thanks for helping a cc newbie, Cheers,
Advait
I'm new to the crypto currency (cc) world. I have a little bit of play money to buy and hold some various cc's. ("Play money" means a small amount relative to my total assets so I don't care if I lose all the play money.)
I've been listening to some cc podcasts and reading some cc articles. My simple minded plan is to buy and hold some bitcoin, darkcoin and litecoin. I have some bitcoin and I'm in the process of getting some darkcoin.
What other cc's would you suggest I purchase? Litecoin? Others? Any suggestions would be appreciated. If you can offer a sentence or two to support your suggestion, that would be great. That way I'll learn what to look for re cc investing.
What are the best sites to learn about cc investing? The cc podcasts I'm listening to are giving me a general idea of the cc universe.
I do not plan to do any day trading or anything like that. I just want to buy and hold long term and see what happens. If any holdings go 10x I may sell.
Thanks for helping a cc newbie, Cheers,
Advait
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