I really enjoy your posts, and you always raise some good points.
Yes, there's tons of crypto. I own millions of coins from more than 100 cryptocurrencies, most which are are absolutely worthless today.
You're right -- rare alone isn't cool. Macrocoin (200k) is dead. Arkenstone (200k max) is virtually dead and is being mined at extremely low hash. KashmirCoin (1000 max), essentially dead. Could it happen to Un? Sure, I can envision doomsday situations that could bring that about.
I think part of what we're building here is the first successful crypto-commodity. We're already nearly a year into this experiment, and obviously many other rare cryptos have already failed where Un is succeeding (or at least surviving). Un will never replace Btc, that's ok; I don't think it has to. It just needs to be a good commodity first, and a decent currency second. There's a certain economy that is being built around Un, and you are part of it. This economy is predicated on the realization that Un has been so-far more successful in this space that other similar cryptos, that the value of Un has been relatively stable, and that there is a certain "gold standard" here. As a group we're also well informed about how this coin works, it's production schedule and dwindling supply. We're more apt to hold Un long term because we understand this. We all had our chance last March to let this coin die and sink into obscurity, just like 500 other coins, but you saw something in Un that was worth saving. What was it you saw?
I could be totally wrong about what is going to happen to Uno. I am often wrong (ask my wife, kids, employees). It's my goal to own all of Un, so I very well may be the last person here, trading with myself. Either I get rich with Uno, or I get to own all of it and say in my last post here, "I win!"
Haha, thanks! They really do come from love
Would be interested to hear your idea of what makes a coin worth wanting / using / owning?
I struggle with this idea every time i consider a new coin. I don't really believe in propagating coins that i think to be scams. Even if i think i could make money on ipos and day trading, which i don't think i can, i doubt i would participate in them anyway. I think the space is far too new to even entertain the idea of an ipo type thing. Except for ether, that is the first ipo to have danced around my mind. It beckons me forth with it's siren song.
I think most of the coins coming out now, literally 99% of the coins coming out, are quick con jobs meant to rob people. Well that is a bit harsh, leave people holding bags, that sounds a bit nicer. My view point is rather pessimistic of the whole thing. I stay away from coins with ipos or what ever you wanna call them. Not my cup of tea.
How many coins out there exist solely for the purpose of adding life to the expensive gpu mining rigs people have? When i got started lurking around the crypto world last august things were a LOT different. The alt scene has become obscene in terms of volume of coins. I think the cycle happens to keep perpetuating due to all the new comers into crypto. They all want to catch the next btc. I really don't feel there will be another btc. It does what it does, and it does it well. Like the highlander, there can be only one! But maybe there will be a couple more.
Soooooo, there are some neat ideas out there. I am often at a loss trying to think of what would stand well next to btc. I am not invested in ethereum or anything but that looks pretty interesting even considering it's ipo status. It doesn't seem to want to be another coin as much as it does a platform or at least that is how they are billing it. It confuses me on how i am going to use the coins though, and i know(okay i don't really know but it seems to be the case in most of these types of coins as all the talked about features are usually miles down the road and no one has patience anymore because they could have used that money they spent to invest in a different coin that maybe would be the next btc but now they can't because they are trapped, trapped i say, in this failing scam coin, oh the humanity!) people are going to panic and drop the price eventually. That will be when i swoop in and gamble, or i miss the ship and my life is in no better or worse of a spot than it would have been, like i never heard of it.
I like xmr because it offers some features that btc doesn't offer, and the volume behind it is rather substantial at polo. The giant public ledger is awesome and all, but sometimes you don't want the world to know you are buying sex toys, sometimes. I feel like it is more of the hold i am looking for than ltc is. More volatile in that i think if it does catch on it will be a bit larger. It depends, everything is speculation. Potcoin, because check the name, duh! In my mind, all it will take is wider legalization. If enough people accept the coin to the point where a 10 potcoins are a gram, maybe, just maybe! They also have a good marketing team set up to promote the coin, i like that part. Plain coin, no confusion, efforts focused where they should be, imho. Also have my grimey fingers in cannacoin, looks like a more home grown approach to what potcoin is doing.
That leaves me with uno, the only other coin i hold any considerable amount of money in. Which has been around for almost a year! That is a long time for crypto! It hasn't been really volatile at all! Like if you stuck with it from the start and held it for a year, you weren't punished for doing so! That is pretty awesome now that i think about it as almost every other coin i have held for a while has eventually crapped out. It is my anniversary coin too, or at least i consider it as such. It came out as i was getting my miners set up, it was one of the first alt coins i mined! It was the first coin to offer the rarity thing, at least the first i was aware of. I dismissed it at first, but eventually the trollbox at coinex talked me into it. I have always just felt like things that are scarce for the purpose of creating an air of rarity about them to increase their value are meh. I think marketing has burned me out on that one though, everything is a limited edition any more. Cereal, soap, candy, trash bags. I really wanted to participate in the coin and see where it went.
I hold the things i like in my life to a higher level of scrutiny than most other things. It helps me understand them a bit more, and i like to try to improve the things i like so that i can like them more and like the fact that i like liking them. Like, cha! I am glad FK and everyone else can see this! The community really is what has helped the coin along by supporting buying at the current prices. It is hard, almost against our nature, to buy at the price we want to see the coin at, instead of the lowest price we possibly can. I guess i am most frustrated that there isn't ONE simple thing to do to get a lot more people to see the potential behind the stability of the coin. I keep trying to think of a way to sustain the value of the coin. The "simple" one would be an uno multipool. Where people can mine scrypt coins, well hopefully any coins but scrypt makes the most sense, and then the pool sells them off for btc and uses the btc to buy uno. That lacks any originality though but it might help get a couple more uno into the hands of people who want it. I would like to think that people that mine on the multipools usually want the coin they are mining for, to hold for at least a little.