Topic: Wow, Alt-coins.... Game over - page 3. (Read 8315 times)

@markco2

I am not kidding one bit when i say you scare me.. i think you are so delusional i find it shocking and disturbing.
I could sit here and refute everything you said bit by bit by why bother ? Like i just said.. delusional.

Tell ya what i will conced you are right when all sites that have an LTC/BTC address's posted for donations etc
switch over to Doge/BTC instead i will fly to your door and give you all my Bitcoin !
I will also resurrect any dead relatives you may want brought back to life too

I think you must be new to this stuff because you clearly don't know how this all works.. many of us have watched them all come & go..
You need to be re-educated.. i think the Doge cheerleaders brainwashed you and bribed you with much profits and very Laughs..
See the link in my Sig for the cold hard truth.. Why Doge coin is bad.

By the way. Since I made that first post about 6 hours ago, Bitcoin has added more than $80 to its valuation. Meanwhile, the spread with Gox is now more than $200. So what does this mean ? It means three things:

[1] - what I said above about "what doesn't kill you makes you stronger" appears to be taking effect sooner than later

[2] - Bitcoin is de-coupling from the "Gox" effect. Gox's price decay is no longer dragging BTC down on other exchanges

[3] - The events of this January and February are probably a "watershed" period in the history of Bitcoin in the sense that it wil now be far harder for any alt coin to ever challenge Bitcoin's supremacy again (other than being a genuine alternative and complimentary cryptocurrency) unless Bitcoin has some internal technology malfunction which is looking less likely now by the week

It may be tiny but it's enough and it certainly isn't "laughable" considering what the stakes are.

A knitting network doesn't require an infrastructure of mining facilities, wallet services, exchanges, traders and vendors that takes the best part of 5 years to establish, test and secure. Nor is a knitting network a "high risk investment" where a historical track record makes the difference between you trusting your life's savings to it or running a mile.

If there's one thing people don't like experimenting with it's money. Picture a new investor - not a 'crypto-nerd' but a regular joe who talks to his broker about where to put his hard earned cash. Bitcoin has been around for 5 years, he's heard of Bitcoin because he has noted that it's been through "the mill" economically and technologically the last few years and has emerged as the first major cryptocurrency to appear as a tradeable ETF. (ETF's by the way take about 2 or 3 years to get from the drawing board, through all the regulatory red tape and into a market).

What's he going to do ? Put his money into 'this great new crypto that nobody's heard of yet but that is way advanced of Bitcoin technologically ?

No way. Not in a month of Sundays - he's going with the tried, tested and track recorded investment.

Just look at the operating system wars of the 80's for where this is all going - Apple was a generation ahead of MS-DOS but wasn't able to even get near it in terms of market share. Then "Next" was a generation ahead of Apple but couldn't touch it for market share even thouigh Apple was falling to pieces in the hands of Gill Amelio.

So it is with Bitcoin - if it emerges from these crisis, don't expect any contenders to get anywhere near it in valuation. They may in terms of "use" but that doesn't translate into valuation. They are different things as I described above.

Bitcoin has quite a large profile considering how few people actually use it.   There are about 2 million users and that quite frankly is optimistic.  This is laughably tiny to seriously talk about network effect. There are knitting social networks that are bigger (Ravelry.com has 3M users).  The ones you have heard of have 100s of millions of users. A company with a well established brand, a small technical team and about $10 million for marketing could probably level the entire altcoin market in an afternoon.

There's a point of diminishing returns for 'technological supremacy'. Coins that appear which are "better" will not necessarily be more popular or more valuable. Once they're good enough to do the job (which Bitcion PPC, XPM etc all are) that will be it. Other things will take precedence like how well supported they are industrially and in the crypto-financial services sector (wallet services, banks, ETF's derivatives, payment processors, etc).

The window for 'technologically superior coins' is closing - if not already closed.

I still see it as a comptetion. All these shitcoins together create a giant competition, and that competition will create great coins in the future. Coin that are innovative, actually better or just have great way to become popular (DOGE). Imagine a coin that spreads faster than DOGE and is more innovative than Proof of Stake. There will be one, maybe not soon, but there will be one eventually.

By the way....

Since I've been speaking, the Bitcoin price has gone from $580 to $613.

If it gets through this spell of uncertainty - all the upheaval about 'malleability' and everything else - there's a good chance that Bitcoin will be absolutely untouchable.

Its status as 'reserve currency' will be secured. No other coin has gone 'to hell and back' in such a public way as bitcoin has. It's been kicked, flamed, punched, rolled down a mountain side, spat at, stripped naked and attacked by a legion of robotic and human hackers, all without a scratch.

The confidence that will bring I think will be unmatchable.

So if cryptocurrencies go anywhere at all (and don't just die altogether) what that means is two things:

[1] - there will be 3 categories of coins

 - bitcoin (the reserve)
 - liquidity alt coins (like dogue) for spending on gloves in Overstock
 - alternative networks that can do what bitcoin does more cheaply (like NxT, Etherium, PPC XPM etc)

[2] - bitcoin's valuation will be in the 6 to 7 figure range at least

The 2nd one is simply academic. I'm not saying this will happen, I'm just saying that each time bitcoin survives one of these crises, it's harder to see how any other coin could take its place. So IF cryptocurrencies go mainstream, that's the deal.

I basically agree with the OP except for a couple of quite fundamental points.

I think that alt coins do have a genuine function as alternatives to Bitcoin. In particular, 2 themes stand out:

[1] -. LIQUIDITY

As we've seen with the Dogue "phenomenon", alt coins with a large supply can provide liquidity to a large market in a way that Bitcoin cannot due to its high coin value (divisibility does not solve this, the problem is due due Bitcoinon's role in the market as the "reserve currency").

The analogue in the fiat economy is gold and the dollar. The US dollar provides day-to-day liquidity - it gets thrown about, traded for goods and services, it's value bobs up and down, loads of it gets printed etc etc. But people do not "park" their savings in the dollar for large lengths of time - they but some asset who's role is more of a store of value than a day to day exchange currency. So it is with bitcoin vs altcoins - just look at the exchanges: they all trade alts against BTC.

For this reason there will always be a need for an alt-coin or two to function as "liquidity agents" for bitcoin. In fact I don't expect to see bitcoin to be used very much in retail, its just to valueable. I expect some other alt coin to take that role in the future.

[2] - TECHNOLOGICAL DIVERSITY

Cryptocurrency technology is so new that we haven't fully explored the strengths and weaknesses of various technological approaches. For that reason alone, coins which diversify the technical properties of Bitcoin will always be candidates for long term growth. The most fundamental diversification is obviously proof or work vs proof of stake. Both have advantages, but they are complimentary approaches in that one covers the other's weaknesses. Bitcoin is heavily dependent on miners in a way that POS is not. It also requires a huge amount of energy to maintain the network. This is a weakness because it gives it a coupling to energy costs.

Its for the second reason that I very much disagree with the OP's citation of Primecoin as one of the "has beens". Primecoin IMO is one of THE most valuable coins on the market at any price. Likeways with Peercoin - these two are created by a development team which put a huge amount of forward thinking into both the technologu and the economics of their use.

Another one which isn't going away anytime soon is NxT. I mention this both because of its high liquidity and technical diversity at the same time. It represents a genuine alternative to the bitcoin network. Although there are criticisms about distribution, these are negligible in relation to its genuine evolutionary advantages - not least the fact that it now has an army of developers building applications for it.

I also don't agree with the OP regarding Quark. This coin has genuine technical diversity, again with liquidity.

So in summary, I agree that most alt coins will drop off the radar fairly quickly, but I don't agree that the concept of "alt coins" is dead.

Andreas Antonopolis puts it best - he says that bitcoin will never be knocked off its pedestal - it has gained too much of a foothold - but that there will be a potential role for "complimentary" currencies in the crypto currency economy.

This is my view as well. By the way if you haven't watched this presentation, it's one of the best I've ever seen regarding the overall 'where we're at with Bitcoin' theme.

http://www.youtube.com/watch?v=bTPQKyAq-DM

You think so do you?
It maybe a cloned coin to Litecoin.

A few glaring differences.

It's the most marketable Altcoin of them all.

Who do not like dogs?
Perhaps some people who prefer cats to dogs.
I would say there would be even fewer that like neither.

Something else to think about that makes it very marketable is in "Tipping".
Even if each Dogecoin is only a fraction of a cent, to have within the Doge community,
raising funds for worthwhile causes is pretty special.  Its not about hoarding it as a long term investment.
It's based on consumption as with normal fiat currency.  Doesn't matter how it is used up.  Nore does it matter
if the price remains stagnant. Shouldn't that be a function of money?
It should be seen as a compliment to Bitcoin.  Not a competitor.

If you asked a person in the street who had heard of Bitcoins and Alt currencies, yet were still very green in how it works.
Which sounds and looks better as a giveaway or a prize?  (A) .01 of a Bitcoin  or (B) 3,700 Dogecoins.
You may think it is a foregone conclusion.  Yet, remember seeing Mark Dice on Youtube on several occassions tried to swap his 1oz Gold Eagle
for a $20 Us Note and he was even across the road from a coin dealer.  Hilarious, how he had no takers.  Had it been someone informed they would have jumped at it.  Considering the US Fed has been shuffling the Fiat for 100 years as part of everyday use and Gold has been used as an exchange mechanism
and a store of wealth for thousands of years, everyday people are too caught up in themselves to even recognize or understand value.

That means Bitcoin will continue to evolve behind the scenes as it's still in it's infancy.  Dogecoin will continue to be seen as a Tipping Platform as it markets it's lovable Shibe.  Both are complimentary to one another as the real world of consumers couldn't care too hoots about the complexities of the development side as long as it's secure and they can use it to purchase all products and services whenever they want to without the volatility.

In my mind Bitcoin needs friends.  Dogecoin can be that friend.

Cheers markco2

What i find amazing is the fact that the combined total value of all alt coins has risen over the last few months, even though every few days you see loads of posts citing the demise of alt coins!

I seem to recall seeing that list when the combined total only reached 7billion  but now its sitting at 10.1 Billion.

Things aren't going down, Things are diversifying.

At least thats my perception ^.^

no it's not Tenebrix is based on multicoin's code , Litecoin is based on bitcoin's code .

http://coinmarketcap.com/ >>>> Nxt coin.. the ONLY coin in the top 16 that is gaining and not falling! coin of the future!

no intiendo

Good post.

op can not into class coin.

PeerCoin, getting stinger all the time.

May the hallowed crypto executioner spare you and all freedom fighters! Long live cold storage!

good posts.

people don't seem to realise when the a coin goes up, the value has to come from somewhere.  similarly, if someone makes a killing off speculation, the money is coming out of another person's pockets.  whatever's being pumped at the moment are easy to spot on coinwarz.  these rallies are nothing but crass manipulation.

few coins are worth what they're actually trading at.  there are no uses for 99% of these coins. 

The fact that has a tiny market cap and a high value demonstrate the stability . Do a little math my friend and you can see the practicing in Bitcoin market at this hour .  Large market caps can be very unstable specially in case of Dogecoin with unlimited supply and a lot of money cap for maintaining that price .


Franko = Freedom !  

Probably the greatest post ever. Straight from the heart. 

you expect these reddiots to know what that is ? lol

also have supported Franko for ages.. i like that one for many reasons