Bitcoin Forum

Hi all,

The BTC/LTC networks are currently very well supplied with miners throwing their equipment at them and I like the idea of Bitcoin being regarded as "Gold" and Litecoin as "Silver".

With the recent flood of new coins, I am currently looking into focusing my mining efforts on one of them. The reason for that is the underlying trends that 1) new, much faster hardware is being connected on a daily basis and 2) the existing hardware is becoming more and more inefficient, being boosted by 1).

I think that when the BTC/LTC difficulty gets too high for the existing hardware to be profitable, people will switch to mining other coins rather than selling the hardware (at least a lot of them should). This should trigger a boost in mining power for the other coins.

So my question is: In which Altcoin Basket would you put your eggs right now, if you had to?

I can't speak for anyone else.  I'm not on any band wagon.  I'm mining BTC up until the next difficulty spike which will put me never breakeven if difficulty comes in as I expect it to.

LTC has suffered as of late and it is not as profitable to mine but I'm using it as my base cashflow as it is not as volatile as the other alts and has liquidity. 

Speculatively I'm mining WDC and DGC.  I sell up to break even to support my operations and keep the rest for long term.  I expect they will be trading near LTC in about 18 months.  If that means LTC falls in price, WDC and DGC rise or the combination of the two I'll be fine.  I think they have the best chance for a future until the really innovate coins come out in the next year.

FtW - I have one under development but it is very slow coding it right now as I have other projects I need to complete.  It's a complete ground up rebuild of the bitcoin source using a modified scrypt algorithm.  It's going to implement a multicoin wallet and will be inflation and deflation resistant.  No announcements other than this tidbit because I need to iron out a lot of the new features.  I'm projecting I can have a testnet ready for UAT in 9 to 12 months with a deployment in 18.

Any one interested in working on the project with me can PM me. 

Mining PPC, innovative and has good dev support. Not a copy paste coins like FTC,WDC,DGC and the rest of them.

This is what I am talking about. There is tons of BTC (after that, LTC...) mining equipment going "End of Life" very soon. Which coin's value is going to explode next?

It won't directly explode a coins value.  Short term its going to be nasty for all cryptocoins.  Long term it will be stable or continue to appreciate.

Sequence of events as I predict.

1. Current ASIC miners try to recoupe investment into hardware.  Sell off BTC ahead of future ASIC miners.
2. Price of BTC goes down.
3. GPU miners finally exist BTC
4. GPU miners move to LTC
5. GPU miners do not invest aggressively in hardware as most have recouped hardware costs (matured hardware).  LTC difficult rises slowly.  Most GPU miners moved to LTC when it was 20% more profitable that BTC for a few months.
6. With tight profit margins, rising summer electrical costs, some marginal GPU miners exit the market (maybe to return in winter)
7. Existing miners either:
      a. sell off their BTC/LTC as part of the exist strategy
      b. hold some of their assets for future appreciation
      c. reinvest in other speculative coins.


So short term
1. BTC and LTC will drop in price.  Panic amongst the ASIC miners and big GPU miners
2. BTC/LTC Clones will be stagnant.
3.  Any alts with sought after features will see difficulties spike but will be volatile as miners dump and investors accumulate.

Long term
1. BTC and LTC will stabilize and appreciate
2.  BTC/LTC Clones will still be stagnant.
3. Sought after alts will show long term appreciation trends and investors build bases and miners start to hold for longer periods and miners selling is smaller relative to buying.

MyCoin (MC)

That's most popular answer on threads like this one  ;D

If you wanna get something that can pay out big in the near future Id say Memecoin. With the Memecoin shop soon to be released this thing could  explode. One of the few alts you can actually buy stuff with and they really easy to mine right now  ;D

pxc > wdc > dgc

also mining btc and ltc to cover costs.

Pxc ofc,  ;D
Awsome, grown up devs.

I'd say WCD and DGC look like the most likely candidates as a replacement of LTC right now, so I'd mine that. Can never be sure though :)

DGC for sure..

There is another option I'm going to start investigating (especially for those that don't already have a high-end mining rig of any flavor): just buy your altcoin(s) of choice as they are all relatively very cheap right now.  If you already have a Useful Rig, then by all means mine with it, but if you have to acquire one, the same money could buy you a large sum of altcoin today instead of mining until you break even in the future.

Disclosure:  I have not yet run any scenarios to see how the buy vs mine options really compare in long run (running different assumed price / diff rates and the like).  Also to look into is buying strategies (for example, how large a block to buy to balance risk vs reward).

Thoughts?

I'm not recommending YAC cos he's asking for which coin will BTC and LTC miners migrate to, and that doesn't apply unless they plan to use their expensive graphic chips to run extremely fancy CPU monitors.

I mined a lot of coins, read a lot of topics and read a lot of crap too.

But I really like PXC, it's 100% supported by MaGNeT.

If I was going to take up mining again?

1) Start my own coin
2) Instamine
3) PUMP AND DUMP!



Guaranteed profit here, as we've seen countless time and time again...

3x7950 laundry basket

card 1: wdc
card 2: dgc
card 3: pxc

we'll see how that turns out

Strange that people rather mine their coins insted the most profitable and exchange.

There is no promising altcoin 'couse world does not need it.
The only hypothetical use of alt-coins in the future is to provide anonymity for illegal bitcoins - BTC/ALTC and vise-versa conversions on stocks like btc-e.
Litecoin is more then enough for this purpose.
And this is, btw, the sufficient  reason why you won't ever see altcoins on gox - especially considering latest libertyreserve stink.

I think PPC has a lot of potential.  With POS and the energy efficiency aspect etc... and the developer is very active, so that is always a plus.

high frequency trading, transaction processing times between financial institutions, small footprint of financial organizations in 3rd world countries, opacity of the existing global financial systems, restrictive regulations,  lack of individual ownership of existing financial institutions, the list goes on as to why digital currencies are needed.

all fiat currencies provide anonymity for illegal transactions.  as long as fiat is physical is can travel through out a black or grey market for years with no historical record of transactions.

litecoin serves as much of a purpose as did the horse drawn carriage.  useful for its time but it cannot go as fast as today's cars.  the world will demands strong, better and faster.  litecoin is somewhat a mature coin now.  time to move on to strong better and faster.

Yep... and we already have bitcoin for this.


The huge amount of btc can be easily followed on the way to mtgox through the chain.
One of the easiest and efficient ways to make them really anonymous is to change to alt-coins at some anonymous stock and then back.


The real problems of bitcoin are initial ease of use for non-tech'y people and transaction speed.
If there will be a coin which will solve both of this issues it will have a chance for popularity (in case of sufficient investments into marketing).

if i had to pick 1 coin it would be pxc ( geed devs low current price )

WDC-->DGC-->PHX

If you want to speculate short-term, you should bet on MtGox ltc adoption and mine litecoin.
If MtGox adopts ltc during the summer you can get a pretty interesting short term gain !

And in the meantime it's still pretty liquid if you want to recover your production expense.

Where will all the "old" mining rigs go when the BTC/LTC difficulty puts them out of business? People definitely won't throw it away or sell all of it. I think there are Altcoins that will profit greatly from this trend. The question is, which ones are the most promising?

This argument is very week and also applies to bitcoin it the past.
Just because you have some bitcoin (or fiat) it doesn't mean nobody is going to use or need a different system exept for money laundring. BTC has enough flaws to make it useless if some really good alternative shows up.

If YAC really succeeds it might even become the miner unfriendliest* crypto. New miners who want to mine their first YACs don't care if they pay more on their electricity bill than on an exchange. Botnet operators don't care about costs they care about returns and if there is a market for them in the future they will mine it at dumping prices.

*) shorterm for miners who can't wait for some times. Like they are burned today on yacs.

What could happen is also a hesitation of the mining equipment going "End of Life". This would be due to the BTC price rising.

If the price, let's say doubles within this year, mining with the old rigs would still be sustainable, even though there are newer technology rigs being added constantly. This could hesitate or even halt the rise of the Altcoins.

Well, difficulty went up to 15.6 million from 12.1 million, a 28% increase. That should put some BTC miners out of business.

We might see the transition even sooner.

ZTC - Demand is overflowing that folks are mining the coin even prior to official launch.

Which may very well lead to the coin's downfall...

Because the launch was totally borked, with a plethora of misinformation, and you failed to clarify said miners.
Thus, a born dead alt crypto.

Do not mix total failure with "overflowing success" as a marketing plug.

I could be wrong here but I see Bitcoin price going down as easily mined bitcoins from asics flood markets to pay for their equipment.

This will make GPU's move to litecoin but all will not be supported. I see about 10 to 20 percent will be able to profit as litecoin can't support all GPU's due to it's low price.

I think asic miners will trade for litecoins with their bitcoins as a hedge and their will be more litecoins available from the increase of GPU activity. Basically bitcoin value will drain into litecoins making litecoins more equal with bitcoins. This can all be skewed depending on which coin fiat will drain into from money coming in to the markets.

Another variable is the support of commerce aka trading of coins for goods and services. If bitcoins has more practical applications for uses in purchasing then it will hold its place as gold and litecoin will begin to be taken more seriously by merchants. Litecoins do have a quicker confirmation algorithm however bitcoin is more well known. This will be a natural step for these currencies at their stage of development.  

As GPU's try to move in to litecoins many will bled into the alts. I believe the best candidates would be the ones with most dev support and public attention. Public attention will be due to price movements going up. If the prices go higher the more attention will be drawn.

I presently am very interested in DGC. I am seeing a great deal of motion and attention being directed to this altcoin. I really don't know why to be honest as I guess it would be the support from honest pools and or devs doing a good job.

http://digitalcoin.co/
http://i1343.photobucket.com/albums/o798/buddy3315/DGC2_zpscbfd8a7f.png (http://s1343.photobucket.com/user/buddy3315/media/DGC2_zpscbfd8a7f.png.html)


Here is a lifetime chart on cryptsy
http://i1343.photobucket.com/albums/o798/buddy3315/DGC_zps840ff34f.png (http://s1343.photobucket.com/user/buddy3315/media/DGC_zps840ff34f.png.html)

Now compared to most other alts I see very low activity. Here is WDC as a comparison.

http://i1343.photobucket.com/albums/o798/buddy3315/WDC_zpsa812aade.png (http://s1343.photobucket.com/user/buddy3315/media/WDC_zpsa812aade.png.html)

BTB could be a coin to watch as from what I hear they want to actually take over Bitcoin and are very hubris in their expectations of the coin the devs have some real good Ideas but it will take a great deal of time for this coin to prove itself. Some of the great features is the way it is confirmed as it does have other additional security applications.


Could be a contender years from now.

http://i1343.photobucket.com/albums/o798/buddy3315/BTB_zpsc7a81dc0.png (http://s1343.photobucket.com/user/buddy3315/media/BTB_zpsc7a81dc0.png.html)

These are just my opinions

lol bitbar is scam. I'm betting on DGC, fast transaction, excellent launch !

Like I said before they are quite hubris in their expectations however could you add to that about BTB or point to some link. I would like to understand more.

Yes DGC seemed to have slipped under my radar but  as I have said before it has my attention and I moved some funds into DGC just from what I have seen in the markets. I'm going to look into it even further as for dev support.

What are your thoughts on Feather coin. I'm seeing a lot of talk but not much action. Saying that it's the new litecoin where bitcoin was litecoin today.

LTC is dead.

All altcoin that is advertised with faster confirmation as a feature is scam coin. Someone says that confirmation in BTC is slow. They change some parameters to make it look faster without knowing anything about security and risks. They can be careless and irresponsible drivers in their daily life.

A lot of people believe in such guys. How stupid they are  :o

PPC/BTC price also halved within one day... 0.00111 atm :(

WDC/DGC for me, they seems the most right candidate

dgc for sure

and not just for the miners who instadump whatever's on top of coinwarz, and not even the hoarders hoping to become a millionaire by buying early then forgetting the coin for the "next thing"... but for actual tangible services

any coin that exists only as an abstract representation of value without any service to spend it is doomed

watch out for dgc is all i can say, is shaping up to be a currency instead of a commodity

+1

Tip for OP: Next time ask for "Second most promising altcoin".

I like the community for WDC, but I must admit that the orphan rate makes mining much beyond a difficulty ~2 pretty unattractive compared to my results when mining DGC. I don't know if the market can or will support two coins that are so similar, so this might be a deciding factor.

Thx, but there is only one single most promising coin.

With yesterday/today's price drop to $ 88, more mining equipment is going out of business for BTC. Thinking about building a chart showing rentabilities of standard mining rigs with most used gfx cards (BTC price/hashrate).

Just curious - what makes PHX stand out from WDC and DGC? I haven't looked at it closely yet so this can help me know what to look for...

I would go with GLDCoin. The infrastructure is being constantly built up with many new things being added. Plus they are increasing in value. Also if you find any blocks from now (20,866-21,000) and you send me a PM w/ proof, then I'll send you another 500 gld coins free!

Didn't the GLDcoin guy make a scamcoin recently?

I've thrown my hat in with DGC. The DGC dev is actively trying to do something with his coin. Every week something new.

Here is a thread against ASICMINER, most likely from people whose (GPU) mining operation is becoming less profitable by the hour:
https://bitcointalk.org/index.php?topic=247489.0

This trend is going to continue, as I've pictured before.

"ltc dead" that cant bee right. I just looked at it and its still trading on many exchanges and I am mining it along with others. Where did you read that it was dead?

Dgc. A real dark horse coming to the fore lately. Arguably the most services in development for an alt coin with some such as digiclick and the dgc bank for example having massive growth potential long term.

Baritus is a great dev, always keeping people up to date with whats currently happening for dgc. Add to that his ability to come up with creative ideas and to think 'outside the box'.

Really excited about where dgc is heading and whats in store for the future.

Check this chart out (Miner's operating profit margin):

http://blockchain.info/de/charts/miners-operating-profit-margin

From what I'm seeing, a lot of the people throw their "BTC-obsolete" equipment at LTC. I wonder which one is up next.

Its Krugercoin , it says so in the Heading , it says its the "Future of Currency"

also Goldcoin says that as well -

so look to those two !

Read this and decide for your self.

https://bitcointalk.org/index.php?topic=246481.0

Yes Krugercoin is the future .... watch this spot!  :)

I think CMC could be the most important egg in your basket.
CMC has the following features:
- Proof of work/proof of stake (Resistence to 51% attack)
- modified Scrypt algorithm
- Transacation Comment like FlorinCoin
- 0 transaction fee
- 60 seconds block time
- 3.5 coins per block
- Day generation: 5040 coins or 1440 blocks
- diff re-target every block
- Trade confirm: 3
- Mine confirm: 30
- fair start, no premine
- port: Connection: 19990 and RPC Port:19991


The ANN thread of CMC is : https://bitcointalk.org/index.php?topic=245938.0 , you can find more info about CMC and discuss some topics you interested in there.

5000 miners leave the network over last 2 weeks:
http://organofcorti.blogspot.de/2013/07/network-electricity-consumption-10th.html

I must say that I've changed my mind.
NVC is the most promising coin in terms of price growth.
Their marketing is very smart and NVC is supported by the largest crypto-trading platform BTC-E.
They've already removed CNC and they will remove other small alternative currencies. 
And for sure they will not add another one like DGC or others so market capitalization will slowly move to NVC - this is inevitable.

Primecoin is very promising but DGC is so far a daddy!

Not created yet

what we should certainly know that, bitcoin will be around for sure in future.