Topic: Rise of the Altcoins! (Read 3583 times)
Yes, it is interesting to reread messages written in 2013, what were the sentiments then, problems with cryptocurrency and prices for it. I hope that this correspondence will not be destroyed over time for any reason and will forever go down in the history of cryptocurrency. After all, over time, people will not remember and know how the cryptocurrency appeared and what problems were discussed then.
The capacity to with stand in the market for litecoin and most of stable altcoin is more then a bitcoin. Because even new investors come to know about bitcoin firstly. But altcoin had a different story. It will sustain even with a low liquidity and low investment. Once the market up, it will reflected on altcoin price too.
I disagree 100% with the OP, and with any speculation that Bitcoin is going to reach some ridiculous number like $50,000 each or something like that.
I think the vast array of altcoins coming out (practically daily now) is taking away from the value of all other coins.
Think of digital currencies like an economic industry, like automobiles or clothing or kitchen appliances. Right now, the "digital currency" industry is worth about $8billion USD. This number is not climbing steadily along with all the additional coins coming out, this value is remaining relatively static and is simply being distributed amongst all the digital currencies.
ALL COIN TRADING PATHS LEAD TO BITCOIN. When a new coin comes out, it simply subtracts from the value of Bitcoin, because Bitcoin must be used to invest in that currency, or to convert it to $USD. New currencies are not adding wealth to the digital coin industry, they are simply providing more places to move it around.
Something major is going to have to happen before this can change, I'm not sure what it is. Maybe BTC needs to show up on the NYSE or NASDAQ so normal Joe's can invest in it instead of it being some "dark an mysterious" hacker-currency like the media has made it out to be. Maybe some major retailers like Amazon need to start accepting it so it gets more public exposure.
As far as Bitcoin reaching $50,000 or some ridiculous number like that, this is simply nonsense. Again, think of digital currency like any other economic industry. With BTC at $50,000 that would make this industry worth well over half a TRILLION dollars - sorry but I just don't see that happening. That's as large as the entire U.S. auto industry.
You're telling me bitcoin can't be worth half as much as the US auto industry? You've got to be kidding me. If bitcoin actually catches on, and I mean really catches on, bitcoin would go well over $50,000. I think the vast array of altcoins coming out (practically daily now) is taking away from the value of all other coins.
Think of digital currencies like an economic industry, like automobiles or clothing or kitchen appliances. Right now, the "digital currency" industry is worth about $8billion USD. This number is not climbing steadily along with all the additional coins coming out, this value is remaining relatively static and is simply being distributed amongst all the digital currencies.
ALL COIN TRADING PATHS LEAD TO BITCOIN. When a new coin comes out, it simply subtracts from the value of Bitcoin, because Bitcoin must be used to invest in that currency, or to convert it to $USD. New currencies are not adding wealth to the digital coin industry, they are simply providing more places to move it around.
Something major is going to have to happen before this can change, I'm not sure what it is. Maybe BTC needs to show up on the NYSE or NASDAQ so normal Joe's can invest in it instead of it being some "dark an mysterious" hacker-currency like the media has made it out to be. Maybe some major retailers like Amazon need to start accepting it so it gets more public exposure.
As far as Bitcoin reaching $50,000 or some ridiculous number like that, this is simply nonsense. Again, think of digital currency like any other economic industry. With BTC at $50,000 that would make this industry worth well over half a TRILLION dollars - sorry but I just don't see that happening. That's as large as the entire U.S. auto industry.
Of course, it's just as likely bitcoin will be nearly worthless years from now.
Was going through my old posts and found this discussion. The funny thing is people were always saying this about Bitcoin, yet nobody listened until now.
it looks like some whales are gobbling up all the alt coins on cryptsy....
Really just buy whatever and check back in 2 years...
Well, problem is: If there's 1 new altcoin every day you have to keep buying. Only a low percentage of them will even make it to something reasonable (or even overtake Bitcoin, it's possible of course), but the others will go away at some point during your 2 years.
It's very tempting, but just simply buying a little of all of them isn't going to cut it, because the 80% failures will eat the profit of your 20% profitable ones. You'll need to do research and evaluate the fundamentals, apply your personal preferences and then only buy the promising ones... much work. And then your analysis needs to turn out to be more right than wrong.
Hate to break it to everyone with $$$-signs in their eyes: there's no free lunch.
EDIT: not to discourage people to invest in alts, just to caution and remind to apply some basic brain functions first.
I could not have said it better myself, good job.
Oh and dont forget to get a couple few of google's coin....
Looks like all of the coins are stair stepping up.. I think my original post is correct.
I have a great idea. I'll hire a team to make 1,000 new altcoins every day, and then I'll invest in all of them! I'll be rich! They just have to become valuable!
No, wait, scratch that - I'll just make the rarest alt-coin ever. I'll make an altcoin with a total supply of one (1) and then demand anyone pay 'at least' $50 million for it.
You must be the group of Doge investors.
No, wait, scratch that - I'll just make the rarest alt-coin ever. I'll make an altcoin with a total supply of one (1) and then demand anyone pay 'at least' $50 million for it.
You must be the group of Doge investors.
Onecoin exists..or better existed
https://bitcointalksearch.org/topic/annonc-onecoin-cpu-only-pools-opened-200177
As long as it isn't a 1 coin premine.
Looks like I might have been right... ltc skyrocketing overnight, almost all alt coins are up....
There are some Developments that could and should be made in alts, that will offer true advantages over LTC and btc. I hope when a great new coin is released, it isn't drowned out in a pool of rubbish.
BLC has advantages over LTC and BTC, faster hash rate, better efficiency and a positive reward structure
existed
I have a great idea. I'll hire a team to make 1,000 new altcoins every day, and then I'll invest in all of them! I'll be rich! They just have to become valuable!
No, wait, scratch that - I'll just make the rarest alt-coin ever. I'll make an altcoin with a total supply of one (1) and then demand anyone pay 'at least' $50 million for it.
You must be the group of Doge investors.
No, wait, scratch that - I'll just make the rarest alt-coin ever. I'll make an altcoin with a total supply of one (1) and then demand anyone pay 'at least' $50 million for it.
You must be the group of Doge investors.
Onecoin exist..
https://bitcointalksearch.org/topic/annonc-onecoin-cpu-only-pools-opened-200177
You sure? No discussion for months
I have a great idea. I'll hire a team to make 1,000 new altcoins every day, and then I'll invest in all of them! I'll be rich! They just have to become valuable!
No, wait, scratch that - I'll just make the rarest alt-coin ever. I'll make an altcoin with a total supply of one (1) and then demand anyone pay 'at least' $50 million for it.
You must be the group of Doge investors.
No, wait, scratch that - I'll just make the rarest alt-coin ever. I'll make an altcoin with a total supply of one (1) and then demand anyone pay 'at least' $50 million for it.
You must be the group of Doge investors.
Onecoin exists..or better existed
https://bitcointalksearch.org/topic/annonc-onecoin-cpu-only-pools-opened-200177
There are some Developments that could and should be made in alts, that will offer true advantages over LTC and btc. I hope when a great new coin is released, it isn't drowned out in a pool of rubbish.
I disagree 100% with the OP, and with any speculation that Bitcoin is going to reach some ridiculous number like $50,000 each or something like that.
...
...
You realize that going from $500-50,000, a 100-fold increase, would be similar to going from $1-100, or $10-1,000, right?
I have a great idea. I'll hire a team to make 1,000 new altcoins every day, and then I'll invest in all of them! I'll be rich! They just have to become valuable!
No, wait, scratch that - I'll just make the rarest alt-coin ever. I'll make an altcoin with a total supply of one (1) and then demand anyone pay 'at least' $50 million for it.
You must be the group of Doge investors.
No, wait, scratch that - I'll just make the rarest alt-coin ever. I'll make an altcoin with a total supply of one (1) and then demand anyone pay 'at least' $50 million for it.
You must be the group of Doge investors.
there are some companies who make money from issuing money: they are called banks 
the principles of issuing money are the same
the principles of issuing money are the same
too optimistic i guess
but i hope your analysis will come true some day
but i hope your analysis will come true some day
most altcoins are not useful. they are poorly structured.
I believe an altcoin launched with an pre-existing backup of fiat / BTC (serving as market maker and monetary base) will be successful.
I believe an altcoin launched with an pre-existing backup of fiat / BTC (serving as market maker and monetary base) will be successful.
all my favourite coins are decreasing in value. first sbc, now DOGE! I've sold half of my doges at the first instance i could get them into cryptsy, the other half is waiting forever now because the difficulty is not going up anymore and the profit margin will be stupid if the price increases. I think the dev should do sth about difficulty changes if we want the price to be higher.
Jump to: