Bitcoin Forum

I own bitcoins, when I first bought them, a year ago, I was thinking of buying LTC too because I had this hope that they were less known and would still go through a higher valuation.
Fast forward an year and I never really bothered

I generaly think of altcoins as copycats/bitcoin wannabes. But a couple of days ago I gave a quick look at LTC price and it had quite a bit jump last november. Could anyone provide a LTC/BTC chart that covers the whole 2013?

Is there any adoption at all of any other coin? I don't think it's very realistic to except to see "Litecoin accepted here" any time soon, let alone other coins.

Do you own any altcoin? Why?

99% of people owning altcoins, premine it, then pump it and hope it goes to a trader, then dump it. The Yukon Gold rush 2.0

The other 1% have noble intentions but mainly fail. Then there is litecoin.

Bitcoin is the only one, you can be the saffest on betting. If it crashes, all the other coins crash along with it it seems.

yes , litecoin as it's one of the only altcoins that is not a scam.

Yes, LTC got them at around $8 each.

Alt coins arent so much a copy-cat coin as much as they are a variant of crypto in some cases. Some Alts improve as each variant is created.

Sure BTC is the original one, and maybe there was one before it that never really took off as BTC did, who knows.

Sure with coingen systems that allow a new Alt at the drop of the hat, some people looking at alts might be cynical.

Reality is that people wanting to get into BTC need to start at a lower rung, as for some, the capital outlay is just too much.

some may use Asic erupters, cpu or gpu on their current pcs and laptops and try and mine an Alt like WDC, DGC, NMC, NETetc(very very slow way but you can get there). then voila they can trade them on exchanges for the mighty BTC. or just buy them off ebay and start exchanging.

i have different coins now due to dabbling in very small scale (laptop/asic)mining and the kids getting in to it.

lol at noobs


yes, I own a lot of LTC... I have no doubt it will cross $100 this year


I own even more NMC just as a high risk high reward investment... it's in the single digits and there's a chance it can boom.  

Why? Because I can  :D Pretty sure though that alts started so that even small time miners could have a chance to mine without investing their whole savings into large farms, and then convert into btc. Now though it seems alts are getting to grow out of control. LTC seems now to be the only reliable alt-coin, but, we'll see what happens this year

There you go:

http://s22.postimg.org/3q6zx4dap/LTC_BTC_1year_borbolon.jpg

I own them to make a profit on them.

I own anoncoin because I think it has a future purpose when BTC goes mainstream, also some protoshares just for speculation. In addition I'm investing in emunie because I think it has great potential.

I buy some alt coins because I caught the train a bit late and don't really count on bitcoin to make profit. Hoping that some coins will compete with bitcoin in a few years (eg litecoin, primecoin, earthcoin, emunie)

I own a fair amount of Peercoins. Mainly because I can see energy consumption becoming an issue for some down the track, therefore the concept of Proof of Stake satisfies that for me, as well as providing an incentive for long-term savings. It is also less prone to fluctuating according to the price of BTC changing, compared to the rest of the 99 million alts out there which crumble when BTC dives sharply. Some people do whinge about the centralised checkpointing, but that was only put in place initially when ASIC attacks were a greater threat to all SHA-256 coins than they are now, and it is planned to be removed in the near future according to the dev, Sunny King.

Plus, the whole "don't put all your eggs in one basket" approach applies here, IMO. Would be silly to just solely stick with BTC as the sole choice of cryptocurrency, as you'd up a creek with a paddle, particularly in light of dramas like the recent ghash.io approaching 50% network hashrate situation and so forth.

Agreed. This is the reason I am diversifying my alts into PoS coins. PHS and HBN seem like good bets to me.

In november litecoin hit $49.

Im living proof because i sold all my litecoins that i bought when they cost $2.50

They are just in a down now - if they cross $30 its going to go high again

+1 to all of this. Peercoin also makes 51% attacks impractical so it's a good choice if the recent ghash.io news spooked you. On top of all that Sunny King knows his shits and puts up weekly updates on here.

Ripple.

It is designed to enable any currency to be used for any transaction. A user holding only BTC, LTC, WDC, QRK, or even DOGE will one day be able to purchase from a vendor accepting only USD. All conversion will occur seamlessly. By this virtue, nearly all crypto currencies may have a viable future.

Ripple already supports cash deposits from ZipZap. I believe it will soon begin to make major waves in payments as well.

Ripple Payments have no need to use XRP directly. It is simply an infrastructure component that may also be used as a currency. However, given the massive value of the Ripple system---and the value of XRP within it---I consider XRP itself a strong investment.

Introduction to Ripple for Bitcoiners: https://ripple.com/wiki/Introduction_to_Ripple_for_Bitcoiners (https://ripple.com/wiki/Introduction_to_Ripple_for_Bitcoiners)

I own Colossuscoin (100% POS) because it has a good community and cheap (worth 675k) and allows me to help build a new foundation. It might work out or may not but it's fun to dive in and build a foundation from the ground up.

I don't have that much Col, about 375 mil of 320 billion coin. When you do the math and convert the coin float into usd, the foundation is worth 675k usd which I think is cheap considering Dogecoin is worth 10 times as much.

As OP can clearly see by now hopefully is that everyone will recommend the coins they are invested in. No one knows shit about which one will make you profit. Or else everyone would be rich. Investing in alts is high risk, but you cannot expect a high reward without taking a high risk

I'm in alts (most of them) because it takes very little to push them up 100%, if you are patient alts are a much better inverstment.

In the long term I also think that bitcoin won't be able to hold on to it's market share.
Bitcoin is dominating at the moment because it's really the only currency you can buy directly.
As the crypto-world matures and new services roll out this is likely to change

Somebody (maybe cryptsy) will add the ability to purchase any crypto directly for cash.

Somebody will come along with a universal payment system that lets you pay in any crypto you like and the seller just receives cash in their account.

Then all cryptos will compete on their merits.

Trying to hold any coins with good transaction time. The speed is the biggest limitation of bitcoin, and it will probably make it obsolete in the end of 2014 or in 2015 because with 10 minutes block time you cant satisfy many demanding services like microtransactions, gaming, shopping, etc. Of course, it wont happen if someone will get successfull with any bitcoin modification making it faster (e. g. much faster bitcoin superstructure running over it).

Wow.

Would you be kind to give me some Colossus coin ? o great millionaire

thank you very much o great milloinaire

Ripple is designed to handle exactly these needs :)


https://ripple.com/payment-network/#cross-currency-payments (https://ripple.com/payment-network/#cross-currency-payments)


https://ripple.com/blog/ripple-now-multi-lingual-supports-cash-deposits-and-more/ (https://ripple.com/blog/ripple-now-multi-lingual-supports-cash-deposits-and-more/) (enters network as fiat, then may converted to cryptos)

only altcoins I'm interested in are PoS coins (peercoin, nxt and possibly emunie soon) as mining is not needed anymore for cryptocurrency to sustain itself and it is just costly deadweight (why should I pay fees or buy coins to ppl just wasting energy way? they was needed in early cryptos with PoW...but now they are just an inconvenience and a potentially dangerous category to negotiate with). i much prefer to give my money to developers through IPO  than give it to miners. that is for sure.

also I really don't understand people who invest in litecoin.....it' only appeal is that it was asic resistant....but it ain't anymore (alpha tech to release asic script miners soon).
all it has going for it is a multitude of  gpu mining (not for long) gamers pimping it on all forums...but technology wise it is a pointless coin. and will be dumped like a brick by
if you want a coin that is asic resistant the only remaining "mining coins" are xpm/datacoin which mine primes (which can't be asic-ed) and which are also faster than litecoin anyway.

I have no ltcoin

I focus mostly on investing in Litecoin, while mining some of the other random coins every once in a while to try something different. Litecoin was the first true alternative to Bitcoin because of the framework it was built on, and just about everything since then has been a copycat.

As a disclaimer though, I do own a 'few' Litecoins as of right now, though a farfetch from the few thousand I used to hold mid-2012.

What's your Collosuscoin deposit address?

I only have XRP :)

I only have VIP coin   :)

have some Bitcoin and XRP.
Bitcoin - the 1st coin and have good future.  
XRP-Have a good trading system that supported by ripple labs.

lol, send me 5million COL coins as proof then  :D

25Dn893Zs462rU3FvHCju6aqi5Req5JpyN

I sent you 50k Col

Currently I think ripple is overpriced because the supply is being dribbled out.
If you look on coinmarketcap.com the ratio of market cap / volume is ridiculous, even compared to mastercoin and nxt.
The way I read that is the supply is so limited that even though there aren't many people using/investing yet, people are having to pay a lot for each coin because the coins just aren't being released for sale.
I understand this is somewhat by design and the volume is expected to catch up to the market cap but at this rate I could see that taking a couple of years :S

It's hard to say though, I do think ripple is an interesting and unique crypto so maybe it's current price is reasonable just based on speculation of it's future.
I'm not one of those people who dislikes a coin just because it's pre-mined, I really don't care as long as people use the coin and get benefit from it.

I'd definitely like to pick some up in the future, I'm just scared at the moment that the ripple people will be forced to increase supply at some point and that will dilute the price heavily.

History of Bitcoin is history of pump and dump, it means history of scam. Altcoins are not so different. They are younger brothers of bitcoin. So why not own them. Maybe it is possible that one or more of them repeat the success of the Bitcoin.

From a traders perspective I think its quite the opposite, from the research I've done on the POS system Sunny King doesn't know his shit lol

I own EAC and COYE, and I am almost sure will increase my XBT ammount with their help

I owned EAC, LOT, LTC and NXT....a little bit of 42.

Just holding them ri8 nw..Nt to miss an oppurtunity like what BTC has seen.
Rest all new coins are crap. Cz miners mine them and then dump them at a lower price, which is nt gd for any coin..

I own small quantities of about 30 or 40 coins, though about 5 of them are already dead and maybe 5 more are sort of terminally ill.
Mostly small quantities to make any significant profit in an exchange when dumped, so I'll rather keep them, speculating on the possibility of price going up.

But generally, I won't hold too much wealth in newer alt coins, when wealth in alts > wealth in BTC+LTC, it may be good time to consider rebalancing the portfolio in favor of BTC/LTC.

I like to dabble in many.  And a lot of them not for profits, but because they are fun, or silly.  I have Federation Credits, which I will probably never sell, but just so I can tell my Trekkie friends I have Federation Credits, and they don't yet I am not a Trekkie.   I really like Bottlecaps, just the name and the Fallout ties.  I have never actually sold my Bottlecaps either.  I just like to have a small stash, incase I need them after the apocalypse  :).  I also now am a supporter of Baconbits, or the Bacon coin, for no other reason than it has Bacon on it.  And I am more than likely going to mine Noodly Appendage coin, because the slogan "He boiled for our sins" actually had me laughing.  

Aside from that, my main coin is LTC, but I also dabble in WDC, MegaCoin, Cryptogenic Bullion, DigitalCoin and a few others.

I like Altcoins, because I honestly think BTC doesn't have what it will take to actually become the currency for the world.  It has to many flaws.  I don't think the alts atm have what it would take to complete the task either, but supporting the alts though supports new developers that may one day bring something totally new to the table that could make it the crypto to take over for fiat.  

I also support BTC,  It is the huge frontrunner, and will be the coin that pushes further and further into the mainstream opening up the doors for the entire idea of a cryptocurrency becoming a mainstream currency, and I believe it will one day many years from now be the currency accepted in place of Paypal for Ebay and most other internet sites.  

I own Bitcoins- not much, around .25(Bought them on Coinbase the week before bitcoins plummeted to $500 a pop. Had I waited, I would've had .5 BTC :/). I also own a couple of Peercoins. A few hundred Fastcoins- they're relatively cheap. All the other altcoins I have were given to me for free like Fedoracoins, eTokens, Earthcoins, Catcoins etc... I own them because you never know what will happen. Since so many companies have started accepting Bitcoins, it could see a boom, some good altcoins will grow along it while most will burn, we don't know which, so I try owning as many different coins as possible. I especially like rare coins.

Did you document your research? I think this is really important that the world see this.

Interesting to see so many different points of view.

What line is what? Could you mention the source too?

I dabble in ANC, PPC, LTC and NMC - buying and selling for more BTC. I chose these coins as I wouldn't mind holding on to them for a long time should their value to BTC drop substantially.  :)

Hoping one of the ALTcoins to make it on the market and get some profit ofcourse!

Bitcoins were too expensive for me, therefore I bought some QRK 0.0001EUR each and LTC for 1EUReach in October/November 2013.
I just hold them and see what the price will be in 2014. Hopefully I can pay my vacation and a new laptop for it this year  ;D

The majority of my portfolio is in BTC/LTC, and that's split just a little bit more in BTC at the moment which has changed from a couple of months ago where it was mostly LTC. I have no doubt that LTC will reach $100, and I still see it edging higher against BTC long-term, which that graph previously posted suggested in terms of its trend.
I probably have about 10% of my coins in alt's a the moment (not including LTC). In total I have about 20 different coins, but the coins that I have more long-term faith in are WDC, DGC, NMC, PPC, MEC, XPM. The others are mostly crap shots imo. The thing is, it just takes one of these coins to make it, and I'll do pretty well from whichever one does.
Ripple is underrated by a lot of people- I don't think that there will be a huge price increase anytime soon (and there are too many coins for any BTC effect, but in terms of a system of purchase/exchange for the masses- Ripple have pretty much nailed it imo.

I mine, (and hold), the alt coins with the highest total network hashrate, I try to focus on the top 5 in total network hash rate and select the ones I determine have the most potential upside over the next year to two years.

The speed of a coin's transaction confirmation is important, very important. Worldcoin and Fastcoin are faster coins, so they should be examined. However, when a coin's transaction times are too fast this promotes stales and orphans in the mining community. Fastcoin mining produces many, many more stales and orphans than Worldcoin, and that is a problem. Fastcoin is too fast and pushes the litecoin Scrypt model much too far, but this has always been known, and Fastcoin is still increasing its total network hashrate at a very competitive rate, there remains interest in mining Fastcoin. But the price, the value of Fastcoin in BTC is very poor and that is of concern. The more a coin's value is against BTC, no matter the logic, the more attractive it is to investors and miners, even if the other factors about the coin make it less valuable overall.

Also, those coins with the highest total network hash rates have the largest mining communities, thus, they have the greatest number of nodes, (miners/GPU), mining them. This is less true of bitcoin with the spreading of ASIC. Bitcoin retains a gigantic hash rate, i.e., a healthy transaction processing network, but the number of mining nodes, (physical nodes mining and entities), has decreased and will continue to decrease. I expect to see this happen to some degree with the release of Scrypt ASIC, but I also expect to see the same set of problems that bitcoin ASIC experienced in its release. The release of first gen Scrypt ASIC is not going to be pretty. The 2nd Gen Scyrpt ASIC retail releases will probably be much better, we'll probably see that by Q2 of 2015 in some real numbers, and then network hash rates for those alt coins that are currently the most popular will explode, and GPU miners will fall off of them, and retreat to the other, less popular Scrypt coins, and look more closely for new coin releases with promise. It's a cycle, wash, rinse repeat, this "ASIC" cycle.

The health and size of a coin's total network hash rate, its "network effect" is crucial to its long term value. Applications that build upon the blockchain of a coin are dependent on a healthy transaction network, i.e., high network hash rate. I think this is the single most important factor when attempting to speculate on the potential value of any coin, including bitcoin and litecoin.

Currently, I favor Worldcoin as its reputation compared to Feathercoin is less exploited. FTC has seen a lot of pump and dump and was a part of UNOCS which failed. Worldcoin was also a part of UNOCS however that is less widely known. Feathercoin was the poster child in many ways for UNOCS and so its public relations has suffered most. Scharmbeck and the development team supporting Worldcoin at this time is strong and the pool operators for Worldcoin, like NUT2, are upgrading and working hard. There is very little bad press, or rumor about Worldcoin pools. Worldcoin is like the third swing of the bat in many ways and is connecting well.

So, the total network hashrate is one of the best indicators of the interest in any coin. If more people and entities are willing to mine a coin, that shows more interest in the coin and people tell others what they like and what they do, so that's a word of mouth factor that increases the visibility of a coin.

The ability of a coin due to it difficulty re-targeting to maintain itself consistently in the upper 1/4 to upper 1/3 of most profitable coins compared to BTC is another big factor in the potential popularity of and future mining community interest in a coin. Just like a YouTube video which appears in the top ten, it goes viral even more because it is visible to so many in that list, a coin that maintains consistent top ranks in the most profitable listing is simply more visible and more attractive to miners. PHS, Philosopher Stone coin is a great example of a very dynamic difficulty retargeting which will often vault the coin suddenly, and unexpectedly to the most profitable coin of BTC value to mine, and many miners will jump on that, knee jerk most profitable mining, and that dynamic difficulty re-targeting serves many complex purposes for PHS.

Total Network Hash Rate
Most Profitable of BTC

And third is the coin's reward per block compared to its difficulty. We can derive a strength metric in this category to compare the alt coins on that basis. How many coins a miner can obtain for a given amount of hashing power for a set amount of time that miner mines that coin is important. And the more value that coin has in BTC, the more important this reward/difficulty metric becomes. Again, clever difficulty retargeting schemes increase a coin's appeal when this metric is examined long term.

Dogecoin's wild popularity recently is due in large part to its gigantic reward per block, and relatively low difficulty compared to that gigantic reward. And Dogecoin has some marketing appeal as well. If Dogecoin can maintain the growth of its total network hashrate it has a fighting chance, but the reporting of that total network hash rate due to miners coming and going as its profitability against BTC changes rapidly is difficult to report, therefore, it is not as visible as some other coins which makes it more risky in the long term. If I cannot see the total network hash rate of a coin consistently, then I cannot assess its potential to provide for a healthy network in the future, which is critical for the development of services and adoption using that coin.

I own and trade litecoin because Charles Lee, the lead developer, the creator of litecoin works for coinbase, one of the largest bitcoin processors and service developers in the world, and Bobby Lee, his brother, is the CEO of one of the largest bitcoin exchanges in the world based in China, btcChina. okCoin currently lists litecoin for trade and the volume of litecoin on the okCoin exchange is a lot, and is increasing each week. The Chinese love litecoin, this is clear. The Chinese understand the potential of litecoin because of its relationship to Charles Lee and Bobby Lee and the places they occupy in the CryptoCurrency money industry.

IMO Bitcoin is far to slow to be used reliably.. it might take a few years but something will overtake bitcoin... maybe not the price per coin you are seeing, but a good marketcap.

Still much faster and more reliable than international money transfers (those take days and the fees are really high!). Though I guess it can end up by bitcoin being the value holder, or coin used to pay "slow" orders (like e-shops, where one hour payment delay won't matter, since the package arrives usually within 1-3 days anyway) and some faster coin (ltc? doge?) being used for online payments (pay within 3 minute from anywhere in the world.... ), mostly smaller transactions.