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.

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....

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.

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....

BLC has advantages over LTC and BTC, faster hash rate, better efficiency and a positive reward structure  

existed 

https://bitcointalksearch.org/topic/m.3042877

You sure?  No discussion for months

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.

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.

there are some companies who make money from issuing money: they are called banks

the principles of issuing money are the same

too optimistic i guess
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.

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.

BTW

Given the price action is the last month, I'm guessing that a hedge fund has already bought into BTC, LTC, and QRK.

Bitcoin's first application is not as a currency, it is an investment vehicle. Bitcoins are a way for somebody to hide their money from governments and consequently from taxes, etc. Hedge funds are soon getting into crypto in a big way. Alt coins will be a major part of that.

What alt coins will the hedge funds buy into? Easy, those that are on multiple exchanges and have been around longest and thus have the most viable networks. There you go. All these new coins are just a distraction, avoid them until they get on an exchange.

What about price? Well the huge amount of money that is pouring into crypto will cause the price of all coins on exchanges to skyrocket. What does that mean for BTC? Somebody was quoted the other day saying $98500, probably true. I'm guessing in 6 months peak of $10000, settles near $5000, then in another
6 months $50000 settles to $25000.

Yep, its really hedging your bets... if 10 coins fail and the 11th doesnt is going to be worth quite alot of coin

I keep hearing people compare Bitcoin and other crypt's advantages over "fiat" currencies, but Bitcoin is a fiat currency as well, just not a government-sanctioned one.

"Fiat currency" is any money that has value simply because someone says it has value, or because people want it, without being backed by any physical goods or services.  Bitcoin works exactly the same way - the only difference is that the people declaring its value are the community of its users, rather than a government entity.

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.

Of course, it's just as likely bitcoin will be nearly worthless years from now.

BrandonQ, I'm not 100% agreeing it could hit $50k.  I'm just saying anything could happen...  Reminds me of tulips...

I kind of agree with Mortimer tho. Even with the market caps, I can't see Bitcoin reaching 50,000. Of course the value will skyrocket at cap but not to that level I don't think. And obviously every other coin relies on Bitcoin to survive at the moment, but that can always change. Theres bound to be competition that could steal value from Bitcoin in the future.

I don't think this is so ridiculous. As traditional currencies (fiat money) is becoming quite unstable, usually due to governmnents - government just "prints" money, causing inflation and thus sort of reducing all your savings.

There are several ways that fiat money can become basically worthless in a short time (Zimbabwe inflation), or sometimes government will cut your saving short by several percent overnight, like taxing bank savings on Cyprus, fixing CHF/EUR to 1.2 almost overnight (from close to 1.0), fixing CZK/EUR to 27.5 (from about 26). And if you consider huge public debt, inflation, crisis, financial stability of EU/USA - then the bitcoin may be still a viable alternative to save money into.

Something major needs to happen for BTC to get somewhere near $50000 - but it won't be BTC showing up on the NYSE or NASDAQ - it will be some huge financial disaster in major market (US, EU, Japan, China ....) - people will find that fluctuating bitcoin is much more stable than their local fiat money and switch to it - some of them to just protect their savings, some of them to actually conduct a business. Not very likely, but still possible, if the fiat money gets really screwed.

Problem with Bitcoin/Litecoin (SHA-256D/Scrypt) is that the reward is going to drop for mining blocks and some of these other alts also have the same issue or they have a problem with amount of coins left, either way after a few years they will have issues keeping the network hash rate imho, if a network is too slow and does not have enough hashing power it will have issues sending/receiving coins which may effect the ability to sell or transfer your investment?

Why Blakecoin beats other coins in the long run:

The modified blake-256 algorithm hash rate is just under 3x faster on the GPU and just over 2x on the FPGA compared with Bitcoin
The reward for mining Blakecoin does Not decrease over time it only increases with block height and difficulty
No restriction on any platform as Blakecoin does not include artificial *Security* that slows down possible mining hash rate and reduces power efficiency
Already has planned use for Blakecoin as a currency storage between MMO systems with prototypes in development

Blakecoin is the fastest !

5.1GH/s on a AMD ATI Radeon 7990
2.2GH/s on a AMD ATI Radeon 7970
1.4GH/s on a AMD ATI Radeon 6970
1.3GH/s on a AMD ATI Radeon 5870
1.6GH/s on a ZTEX USB-FPGA 1.15y Quad Spartan-6 LX150 Development Board

some time in 2014 you should be able to exchange Blakecoin for in-game items in the MMO system we are working on or even learn some new skills by taking a course on 3DS Max or Unity 4.x in the MOOC system we have planed, both of which are not $ or BTC  

The idea of our games is not just to play an MMO game but to also mine while you are playing, same goes for the MOOC mine while you learn too  

Mortimer, anything is possible.  You obviously don't understand market caps.  They really don't mean anything.  Learn stocks.  Wall street is coming to Bitcoin sooner or later end of story.

Don't forget, inflation will catch up to us eventually and it will be something fierce, thanks to the FED's easy money policy over the past 4 years.  You can't just print Billions of dollars and expect inflation to not go through the roof.  It's going to happen.

Coins could be a way out of this inflationary period that will hit us eventually, and by that point, tens of thousands of % gains could be quite possible...

My point is anything is possible and one fact, is more and more people with money are jumping into the Bitcoin/Alternate Coin game....  It's going to be a huge market.  Remember, bubbles can last a long time....

Exactly and only a very few will make it out alive with in the next couple years. And thats where the gamble comes in.

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.

I don't look at the value of alt's in BTC, I look at them in dollars.

If BTC goes past 10,000 dollars like alot people saying it will,then how much are the  "worthless" alt's are worth each in dollars?

let us say bit coin reaches 50,000 each.
Nova coins are worth 0.01962591 BTC each.

So each Nova coin would be worth about  981 dollars each.
So with ten thousand coins,you would have 9.81 million dollars.

that's with BTC being priced at 50,000 each.  One economist who I can't remember his name says that BTC will reach 700,000 in the future.
At that price,ten thousand  Nova coin would be worth 137,381,370 dollars.

WHY should we invest in redcoin?

Invest in REDCOIN. 

https://www.cryptsy.com/markets/view/87
https://www.coins-e.com/exchange/RED_BTC/
https://bter.com/trade/red_ltc

Will there be a day when BTC won't depend on USD?

Yeah I've been following StableCoin, DigitalCoin and WorldCoin as they all have some combination of: active devs, marketable name, innovation and publicity.

Of those it seems WorldCoin is currently doing the best, but I'm really hoping one of the others will start to gain some traction and actually be used for purchasing goods and services.

Of course this question is going to produce nothing more than everyone shilling for their own altcoin, but I would like to mention that it seems StableCoin is extremely unrecognized as it is.

Its mixed transaction service will provide great, decentralized anonymity.

Zerocoin should as well, but that might not be out for months, if not a year.

Anoncoin has got to be the most under priced alt there is, a great time to invest in ANC!

Well, once everyone wakes up out of this Austrian economics silliness, and gets back to the sanity of contemporary, modern economics and monetary policy accepted by governments and central banks world wide, and based on papers and policies of Nobel Prize winning economists, all of these alts will die and the only thing left will be the Bernankoin. Bernankoin is based on real economic and monetary principles that run the real world. 

https://bitcointalksearch.org/topic/scammers-scamming-scammers-375010

If anyone wants any Bernankoins, I'm selling them now at their fair market price of $1 USD for 1 BEK. Bulk discounts for larger orders. Also, until December 31st, 2013, I'm offering a special discount of 6% to account for USD inflation. So, $0.94 USD for 1 BEK. Prices go back to normal in 2014. (NOTE: I will accept USD equivalent in different alt currencies, even though they're all bound to fail because they're all inherently flawed and based on shaky economic principles, unlike the Bernankoin.) (This is just me being nice and trying to help people out.)

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.

Really just buy whatever and check back in 2 years...

Vote for Diamond, a combination between PoS and PoW, creative diff adjustment, transaction message

I would go for the following coins in this order:

Peercoin
Primecoin
Anoncoin
Quark
Tagcoin
YAcoin
Diamond

Criteria are:

- Innovative
(e.g. Peercoin/Tagcoin/Yacoin/Diamond have Proof of Stake, Primecoin serves science what gets it decent marketing, Anoncoin has the "anonymous feature", Quark might be the most interesting CPU coin)

- No Premine

- Active development team

$179k right now says coinmarketcap.

Is the market cap on that under $500,000?

0.1 BTC would only buy 30 FRK

Florincoin FLO: because it hasnt been pumped and dumped ever, I has 528 messaging system to allow colorcoins.org and twitter encrypted messages. Mac and windows wallet too
GME: because they are good at marketing low market cap: Mac and windows wallet too
EZY: low float, low market cap

If it has a low market cap I am a bull. Sxy was just pumped and dumped.

All the altcoins will exceed their most recent highs of the past month, so look at the present price and compare to recent high to get best return.

Looking forward to see the altcoins in 2014, esp Doges!

The only 2 ive seen that looks to be doing anything are sexcoin and doge (there maybe others i dont have time to read up on 300 different alts)
Doge because of its community push on reddit and twitter. Sexcoin because of what the devs are trying to do, the fact you can buy shit with it and the potential stowed away.
I know theyre 'all clones' and anyone could be used for the same purpose but thats my feelings. The rest seem to have no market or physical worth outside of cryptsy which to me is retarded in the long run. I have no idea what junkcoin even is but with that name i would never no go near it and wont bother to even read up on it.
Edit - also keeping an eye on worldcoin but im not on board with that yet.

After litecoin difficulty rise, i'm looking at WDC these days

For me sexcoin is the best bet. There is a bit of marketing behind which could make it skyrocket + it's one of the most profitable compare to ltc these days
others could be florin, junkcoin, ...

So what altcoins are the next big thing? :|

I want to add that the coin has to be profitable at the time you mine it comparing to ltc to be worth mining

hahahaha, my mistake. Thanks for your notification.

Post Edited.

With BTC drifting down, AltCoins are gearing up for the next big move up.

Some coins haven't gotten back to their highs in July. These are ripe to take off.

Most have at least 10x potential from present levels given the huge increase in mining difficulty.

This isnt rocket science... lol

Your are very successfull trader  

I want what you're smoking.

I don't think you understand percentages or how they work.

Will there ever be a day when altcoins won't depend on BTC?

Yep, tons of room for both coins and technology/adoption on how to make these useful beyond spec/investing in shorts.

Since all of them are reflected in LTC as it rises so do the alt coins... Everyone of them is on an accelerated pace of ltc....

You can but hundred of alt-coins with just a tiny bit of bitcoin.

Lets say for example you trade 0.1BTC for 100 XXC, and then price of XXC/BTC rise about 0.01, then your money got rised 100 * 0.01 !

So simple.

Wise man...

Thanks Stink, I'm going to mine them all sporadically and start building them up.

yes: any on this list are LTC  http://www.coinchoose.com/litecoin.php

Is there any easy way to tell which coins are traded in LTC?

I updated the post to make is very simple....

The Math is staggering how undervalued these are.

.1 BTC would buy 1000 of them all... and any one of them could go to or above LTC prices...

Today marks the Rise of the Altcoins...and here is why:

Here's the math..FACT:

On 1/13/2012
Litecoin difficulty: 0.65
Litecoin price: $0.02/ltc (0.003 btc/ltc)
Bitcoin difficulty: 1,250,757.74
Bitcoin block reward: 50 btc
Bitcoin price: $6.5/btc

Look at Any altcoin being traded for over 3 months.. they are all @ difficulty of 1-4...
Now have fun doing the math and finding out how undervalued all of the altcoins are...

And the best part is that most people have not noticed these insane low prices... more and more gpu miners are switching from LTC to Altcoins... the math proves it... Look on http://www.coinchoose.com/litecoin.php all are about 200M/H or higher..
Let me make this easy for everyone any coin with a market cap of under $1,000,000 usd and is traded in LTC is worth taking a look at: http://coinmarketcap.com/

You would be a fool to not own 1000 of any of these coins...
IMO have 1000-100XXX of them all...

Now some are litecoin clones, but some are innovative. Those coins are the real deal right now..