It seems as though everybody has an opinion on how to make money in crypto and most are willing to share that opinion. What is the worst advice that you've heard on BCT on how to make a profit in altcoins?
Litecoin (LTC) will recover when the price of bitcoin recovers. Just hold and ride out the storm. |
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I think the Bitcoin blockchain is becoming bloated beyond usefulness. Look for emerging blockchains to gain momentum in the near future.
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I'm all out of Kleenex at the moment but will watch this once I restock.  |
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I understand that Cryptsy has the best legal council available. They are unlikely to do anything that would expose them to high risk or unnecessary liability.
In terms of reliability, they are one of the most stable and reputable cryptocurrency exchanges on earth at present.
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I think there's a very real chance that Bitcoin won't see $500 again in my lifetime (I'm old).
Sorry for the bearish attitude, but it seems like we've somehow reached a stalling point. Not sure how, but we need some momentum to get things turned around.
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microguy seriously are you going to post the same out of context bs to every thread? yeah yeah we know you hate ltc, and btc; and goldcoin will take over and rule the crypto landscape..........then why don't you pony up and head back to the 3 other members on your own forum  ...and leave us in peace  I'm accumulating. Once I've completed the accumulation phase, I will leave this place in peace and return to my kingdom and my golden throne.  |
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What features make a successful altcoin?
Attention, both good and bad. The difference between a successful coin and a failed coin is attention. If your coin gets attention, it will succeed. If your coin doesn't get attention, it will fail. All other matters are of secondary importance. |
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Even with the rocky start (and name borrowed from the low-cost beer industry), I feel Litecoin probably still had a chance to evolve, survive, and grow up until the point that Lee decided to abandon ship. Now the vessel seems destined to lower its sails and drift away into the darkness.
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He already pulled this drama stunt last year, he quit Doge because it was a "cult", now he is out attention whoring again.
Yes. I think he's bound to quit a few more times before he's actually done. |
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Thank you for this invaluable wisdom.
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Just read this disturbing article, based on recent leaks from Snowden: http://www.propublica.org/article/the-nsas-secret-campaign-to-crack-undermine-internet-encryptionThe article talks about the NSA responding to the rise in popularity of internet encryption by, among other things, deliberately weakening the algorithms in use to give themselves a back door to decrypt data. Bitcoin relies on SHA-256, originally created by the NSA. Perhaps there is a weakness that an organization with the resources of the NSA is able to exploit. If so, that would explain why the major governments around the world seem to tolerate bitcoin. They know they can break it whenever they want. Preferable after the cartels and terrorists get comfortable and start relying on it. No worries. There are several altcoins working on this problem now. |
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any great coin to invest?which coin will go up in value?
I see this question asked repeatedly in this forum. You're highly unlikely to find the correct answer here. Better to ask a kindergarten class. The answer to your first question is that no coin, in this moment and time, is a "great" investment. Your second question assumes that some coins will go up in value. You should consider that all coins might go down. If you could short the entire market, that could possibly bring the greatest profit. Look outside into the world and see how many consumers are using cryptocurrencies. Ask yourself which one you would most likely use and where would you use it. If I had to guess, Bitcoin is probably the safest investment. The remaining choices are little more than lottery tickets at present. Perhaps you can find a coin you like and donate your time and efforts to helping it succeed. That's what is needed. |
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Right now, it seems like bitcoin is moving slowly. Winklevoss ETF is in regulatory hell. GBTC sits there (not trading) with <100 BTC in bids. Still few places in your average city where you can use bitcoin. Remittances are not really catching on as fast as we thought.
But in reality, bitcoin in 2013 was 100% amateur bullshit. Alpaca socks, Mark Karpeles, friedcat, and DPR.
It's really hard for me to decide whether we're moving fast or slow.
I think we might stick in this $200-$300 range for a while and perhaps never see $500 again. Bitcoin is opening doors and will continue to open doors for digital currencies. However, within the next 5 years, I think a few of the top altcoins will step up and probably surpass the original bitcoin in terms of popularity and market capitalization. |
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Also keep in mind the very first discussion in here was me defending ALL alts. So yea.....thanks for the vote of confidence and blasting Litecoin for whatever reason even when those involved in it still help/work with/defend alts and cryptos.
How in the world can you honestly defend ALL alts? That just makes everything else you say unbelievable.  The fact of the matter is Litecoin's developer works for a boss that hates altcoins and who has laid down the law regarding altcoin "moonlighting". |
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Point 1 - the developers of Litecoin are absent.
Wrong! Litecoin does not need any more development, therefore it does not need a developer.  Now excuse me while I get back to enjoying a large glass of Coinbase Koolaid. |
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You really think the bitcoin foundation can arbitrate and make informed decisions about hundreds, or thousands, or millions, of chargeback disputes every day? You really think they should? You gonna pay salaries since you've just advocated them hiring a few dozen to several thousand people depending on transaction volume? You think everybody should have to trust (ie, be potentially betrayed by) exactly the same agency anyway?
Let's say Mr. Joe Consumer buys a $10,000 item online and accidentally sends the bitcoins to the wrong receiving address. The Bitcoin Foundation could setup a call center and a toll free number (1-800-BTCBack) to handle these situations. Transaction fees could be increased to cover any additional costs associated with this new Bitcoin security feature. |
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But the question is, can bitcoin really substitute dollar or other currency sometime soon?
Yes, once bitcoin payments become reversible. If the Bitcoin Foundation can get the charge-back coding changes implemented, I think this baby is headed to the moon. |
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The problem with chargeback is that someone has to make the decision about whether to do/allow it, and both of the parties involved are self-interested. If there were agreement, then there is no problem; the "chargeback" is just another mutually-consenting transaction. If there is disagreement, then you need someone to decide.
I think the bitcoin foundation is probably the best to arbitrate these reversals. A buyer would simply open a chargeback case and if the claim were approved the CSR would send Gavin a note to reverse the transaction using his bitcoin master-key. |
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But this 'no chargeback' feature will be hard to accept for masses of people in the future. I know that it is possible to modify bitcoin and add chargeback functionality: but is it needed?
It's coming. The bitcoin foundation will probably figure out a way to implement this feature. |
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That's what an arch does by nature....first it goes up and then it goes back down. See Below: "W" in this illustration represents time whereas "H" represents max pump stage. |
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