Bitcoin Forum

What is the best way to support your favorite alt coin

I left out starting your own pool and things like adding code to the coin since this is beyond the ability of most people and not realistic.


Still I am curious.  My opinions are running a full node and mining the coin are the best ways to support a coin.  ANY COIN

But what do I know ??  I welcome all votes, opinions, and post below if I missed anything I should have allowed as a vote !!

With all the brilliance buzzing around this forum I am sure we can find the real answers !!   ;D ;D ;D


edit 1: poll runs for 14 days

This is a good poll.  Results Should be interesting.

Learn a skill, find a target market, and build something for it

The days of cheerleaders being highly effective have come and gone

Great poll , waiting for the final results  ;)

There's a lot of people who seem to believe that "Attacking anyone who says bad things about the coin" is the answer, but i doubt it will get many votes.

Provide liquidity, especially buy-side liquidity.

I consider this extremely important.

Consider for example if when 10% of all the coins a chain will ever contain have all been sold for $0.10 each all that wealth used to buy them had been put back onto the buy-side, it would have been enough backing to back all the coins ever to exist all at $0.01 each.

So basically as coins sell for more and more each, the floor backing could constantly grow.

If when bitcoins had been selling for $1000 10% of all bitcoins ever to exist had been bought for that much, from someone or someones willing to actually "back" the currency, that would have been enough dollars in the system to "back" every bitcoin ever to exist at $100 each, basically gaurantee-ing a floor price of $100 from then on.

With coins such as DeVCoin, which continue to mint coins forever, providing such cast-iron floor price by means of deep solid buy-side order-books is harder. But maybe worth attempting regardless.

Basically I consider the ability to reliably "back" a currency to be one of the very few "advantages" of a centrally-issued currency. The issuer gets all the wealth used to initially purchase the currency thus is in a position to "back" the currency.

Everyone with long-term interest in a currency should probably consider trying to "back" it to whatever extent they can afford...

-MarkM-

--spending/using the coin

--donating to the Devs (if open source and no premine)

--answering questions posted by new comers

--educating yourself on the coin and cryptosystems in general

--participating in debate and discussion

--giving a shit about the direction of cryptocurrency, not just the coin you support.

Buting on exchanges and holding them, in particular when the price is crashing. Buying when everyone else is dumping helps support a coin by demonstrating that someone believes in it when others have lost faith. It can help stop crashes in the price.

Greetings, miss Carter
From history it looks like this option is true: " Post all over this forum and other places how great the coin is"

I voted for running a full node and buying on the exchanges. The latter
also gives incentive to the miners, as they see the price rise.

But actually these


are spot on too.

buy more and holding them

Interesting poll, thank you  :)

very encouraging feedback so far, since still in first 24 hours should we add additional options as a few suggested ?

Best way to support your favorite altcoin is full nodes, and posting (shilling) about how fantastic it is. If you can host nodes then you can do other stuff too, "boots on the ground". If you have people that are there that can help you with problems and are knowledgeable then it builds development and from that you get more trade.


I liked markm's post on market backing.

I doubt shilling has any value except making the holders
warm inside. Who has been converted by shills? More
likely it is a turnoff to anyone not involved.

Would probably depend on the method and how appealing it is.

Well I would say promote it by using it to buy things with, but I guess that's one of the main problems with alt coins is there's not really many things you can actually spend them on.

The best way is to but it and hold it.
And then work for it.

well i cant vote because of my current rank ( i think ) but from my point of  view there is lot of things that you can do tu support your favorite coin, like:

-hold coins
-support it by minning it
-bring good and fresh ideas to the devs
-spread it at social networks

all of them should be pretty good to support it :)

Mining the coin

Why do only one thing?

1. Running a static full node
2. Buyside liquidity
3. Telling people
4. Add a link to your sig and be active here.

i think the best way is to involve more people with the coin, the more people adapt the coin the bigger and better the coin will get. although this goes without saying that the coin must at least have the potential , and not every altcoin has that.

one of the best ways IMO is to do giveaways, especially i found that coins subreddits are a good place for these kind of stuff.

and outsource every one who can do stuff like mining, running a full node or even helping with the coding should do that.

promotion. Spreading the word, and setting up side services that use the coin.

Right here:

https://bitcointalk.org/index.php?topic=1083575.msg11557908#msg11557908

+1
Single best thing you can do is have patience, and don't panic when the price is in the toilet

Really interesting thread. I will bookmark this.

I buy, mine, hold and retweet.

The best way to support your favorite altcoin is to ...

1. Systematically mine and hold.
2. Keep the developers honest.
3. Praise and find the good in everyone.
4. Remain active in the community.
5. Beware of inflation adjusting forks.
6. Insist on having your vote counted.
7. Be kind and gentle with all living creatures.

Actually, I have one: help build the coin's ecosystem. It wasn't there, so I selected "tell a friend."

The best kind of demand comes from use.

More thanks to all who have posted so many valuable comments.

I think spending coins, mining them and running a node are all great ways to support a coin.

3 days left to vote

The best way is spreading the word, running a node and -- if you have the abilities -- to create some useful service around the coin.

yup these are all good ones