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Title: How do the alt coins survive ? Post by: lepko on August 10, 2013, 07:07:48 PM There are a bunch of alt coins : how do they survive ?
Title: Re: How do the alt coins survive ? Post by: Magazine on August 10, 2013, 07:12:14 PM There are a bunch of alt coins : how do they survive ? I can't say I am a fan of Alt-Coins but I guess they are worth the power it takes for people to mine them. I only really care for Bitcoin and maybe Litecoin. I don't see many of the Alt-Coins surviving long term. Most people are just mining them due to them being easy and then dumping them. Title: Re: How do the alt coins survive ? Post by: favdesu on August 10, 2013, 07:19:22 PM There are a bunch of alt coins : how do they survive ? easy answer: they don't. 99% are worth nothing. Title: Re: How do the alt coins survive ? Post by: Chronikka on August 10, 2013, 07:19:48 PM There are a bunch of alt coins : how do they survive ? Most of them survive on hype alone in the beginning (see feathercoin...) The way for a coin to continue to thrive after the initial hype is adoption in the community. So far only Litecoin has really shown any promise and the others basically come and go. If you look at profitability charts in a couple months you will see a whole new set of alt coins at the top with the ones currently carrying the day falling back to the pack. Title: Re: How do the alt coins survive ? Post by: kjlimo on August 10, 2013, 07:21:53 PM define survive...
I have an alt coin newsletter which I update people on my thoughts about alt coins. Some bring new ideas to the table while some are just copy cats which offer nothing new. For an alt coin to "survive," I believe it needs to bring something new to the table. I use vircurex (https://vircurex.com/register?referral_id=801-154) for trading alternate cryptocurrencies and I hope they pick up i0coin now that it's been resurrected. Title: Re: How do the alt coins survive ? Post by: lepko on August 10, 2013, 07:25:43 PM define survive... I have an alt coin newsletter which I update people on my thoughts about alt coins. Some bring new ideas to the table while some are just copy cats which offer nothing new. For an alt coin to "survive," I believe it needs to bring something new to the table. I use vircurex (https://vircurex.com/register?referral_id=801-154) for trading alternate cryptocurrencies and I hope they pick up i0coin now that it's been resurrected. So they do sustain almost only upon speculation on trading market not really to buy/sell stuffs on real market ? By the way sorry for my english it's not perfect :) Title: Re: How do the alt coins survive ? Post by: Magazine on August 10, 2013, 07:27:09 PM define survive... I have an alt coin newsletter which I update people on my thoughts about alt coins. Some bring new ideas to the table while some are just copy cats which offer nothing new. For an alt coin to "survive," I believe it needs to bring something new to the table. I use vircurex (https://vircurex.com/register?referral_id=801-154) for trading alternate cryptocurrencies and I hope they pick up i0coin now that it's been resurrected. So they do sustain almost only upon speculation on trading market not really to buy/sell stuffs on real market ? Pretty much, when a new coin comes out there is mostly always a hype over it and there is people mining away at it. After a few weeks it dies out due to it not being spendable anywhere. Pretty much people only pump and dump Alt-Coins. Title: Re: How do the alt coins survive ? Post by: super3 on August 10, 2013, 07:57:29 PM For an altcoin to survive it has to have these things:
1) Have some new or innovative features. 2) Have a good launch. See Elacoin... 3) Have at least one motivated and capable full-time developer. Sometimes things break and there needs to be someone to fix it and also improve the coin over time. (See Peercoin and Primecoin) 4) Use a different hashing algorithm/be resistant to ASICs. If you throw an ASIC at a new and small network bad things will happen. Look what happened to my beloved Terracoin... 5) Buzz and a Community. Got to be a health amount of talk for it to be listed in a major exchange and maintain a good price/volume. 6) See 5. Must gain enough buzz to be listed on an major exchange. Note that all altcoins are hanging on to the success coattails of Bitcoin. |