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Every smart long-term thinking crypto investor should have at least 10% of their assets allocated to NXT.
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Damn, I wish someone would have told me there can be only one store of value before I bought gold and silver. I guess its against the law and was stupid of me! Also see my last response about fiat and market caps and such.
wow, that was a long post, I want to answer only the store-of-value argument, as the rest is not so important. Gold and silver metals both have unique properties and neither of them can replace each other, that's why both are valued by humanity. BTC and LTC are the same minus a few insignificant technical details and can perform the same functions, that's why only one can be valued, and all things being equal, the first one that came into market is and will be valued, there is no place for two store of value assets here. Neither BTC nor LTC fits into the every day currency category though, as they are too rare for that. |
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a coin for circulation, and it can't be Litecoin either, because it's too rare for that, just like Bitcoin
There will be nearly as many as 21*10 12 microBitcoins, on average it's about 3000 per every human being on the planet, and every microBitcoin is still dividable to 100 pieces. Nobody gives a flying f*ck for micro. People want whole coins, not some microsh*t parts. That's why Dogecoin is getting more and more popular. |
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El Dude has been singing this 'Charlie works for Coinbase' song for quite a while now. The thing is, this doesn't change anything. There are a lot of other places people can turn their fiat into cryptos, many more such places than a few months ago. That is exactly why I said that this thread is 6 months too late. Market is deciding right now, it has not decided anything yet. It is exactly these periods of seeming stagnation in price that are decisive, because big investors get into the market at these periods when the price is low and they decide what will be #2, and I don't see Litecoin staying at #2, as it brings nothing new that Bitcoin doesn't have.
Both Bitcoin and Litecoin are not designed to be every day internet currency, and being just the store of value - this is what Bitcoin does great, it doesn't need help from Litecoin for that.
Investors don't care about the tech side of coins. They care about longevity and stability especially if they are using their preferred crypto as a store of value. Case in point, would you put 1 million of your own cash into Asiacoin in hopes that it will explode in price? In terms of the best "store of value" litecoin will always be #2. There can only be one store of value coin, and that is Bitcoin. Two coins for store of value is too much, there is simply not enough fiat liquidity looking for permanent storage in this market for two coins. Now that this is out of the way, the market also needs a coin for circulation, and it can't be Litecoin either, because it's too rare for that, just like Bitcoin. And here comes Dogecoin, to be the preferred currency to circulate and to be spent, while Bitcoin is hoarded. I don't see where Litecoin fits in here. |
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What would a normal, rational-thinking person do? It would get off the exchange as soon as possible, in my opinion. It would try to exchange BTC to fiat and move out as long as there is more clarity about the current situation.
The only thing that is clear about fiat (be it USD or Euro or Yuan) is that they will keep printing more and much more of it. So why exchange to fiat and leave? That would not be rational thinking. Four reasons: 1. In case the value of btc declines faster than the value of fiat. 2. To buy cheaper coins later 3. To pay expenses 4. To make other investments.Yes and No. It seems, there are enough people who don't find these 4 reasons valid at this point in time to exchange to fiat. There are always two fools in the market: one who buys and one who sells  |
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What would a normal, rational-thinking person do? It would get off the exchange as soon as possible, in my opinion. It would try to exchange BTC to fiat and move out as long as there is more clarity about the current situation.
The only thing that is clear about fiat (be it USD or Euro or Yuan) is that they will keep printing more and much more of it. So why exchange to fiat and leave? That would not be rational thinking. |
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El Dude has been singing this 'Charlie works for Coinbase' song for quite a while now. The thing is, this doesn't change anything. There are a lot of other places people can turn their fiat into cryptos, many more such places than a few months ago. That is exactly why I said that this thread is 6 months too late. Market is deciding right now, it has not decided anything yet. It is exactly these periods of seeming stagnation in price that are decisive, because big investors get into the market at these periods when the price is low and they decide what will be #2, and I don't see Litecoin staying at #2, as it brings nothing new that Bitcoin doesn't have.
Both Bitcoin and Litecoin are not designed to be every day internet currency, and being just the store of value - this is what Bitcoin does great, it doesn't need help from Litecoin for that.
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I don't believe his ability to drive the market demand is very large, so my reaction would be very limited.
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There are supposed to be four times more litecoins (84 million) than bitcoins (21 million) so with everything else being equal, Litecoin should cost 1/4 that of Bitcoin. But Litecoin is currently trading at about 10 dollars each while Bitcoin is trading at around 400-500 dollars each which makes it undervalued by a factor of 10.
Has it got something to do with the distribution curve (ie. more litecoins are produced in the first few years compared to Bitcoin)?
This thread was more valid 6 months ago. It's pointless now, because a) Litecoin brings nothing new compared to Bitcoin; b) some other alts have sprung into being over the past 6 months, that do bring something new to the table compared to Bitcoin. Meaning, capital will continue to pour more into alts with more perspective and less into Litecoin, which will go as low as 0.01 BTC by the end of 2014. It can stay the same dollar wise though, around $10. |
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Trying to build QT on ubuntu, gives me several errors on this one. I really dont have time to start debugging all this.
Can someone link me to linux-qt please?
If you're referring to the error "SSE2 instruction set not enabled", the fix is to modify the myriadcoin-qt.pro to add the CXX flag -march=native and run qmake, then make, again. You can download the modified myriadcoin-qt.pro file from my dropbox. I can also upload the myriadcoin-qt built on a Lubuntu 13.10, but that would require trust on me (that I didn't put a trojan on the executable). It's preferable that you build the qt client yourself. To download the modified file (you have to copy this over the myriadcoin-qt.pro that came from the github source):wget http://dl.dropboxusercontent.com/s/t0dy5o165qh9br3/myriadcoin-qt.pro
cat myriadcoin-qt.pro | grep -B3 -A3 march
Remember, you still have to run qmake, and make. Qmake will create a new Makefile with the flag instruction. If the error you're getting is not related to SSE2, then I can upload myriadcoin-qt, but only if you want it from someone other than the dev team. Big thanks! Added flag and it compiled with ease. Dev could add extra qt pro for linux. So it avoids problems for anyone new who wants to compile it. Ok, I just tried this, it compiled afer adding that flag, but when I launch it, it exits right away, with the message 'Illegal instruction'. OS is debian, not ubuntu, but shouldn't be a problem, right? Any clues on that 'Illegal instruction'? I've been using windows version of Myriadcoin under wine in linux, but under wine it also exits abnormally from time to time, when syncing. |
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How is it possible that Bitcoin is a stepping stone, when the code is open source and can change? It's not stuck and frozen in time, it can evolve, right?
Bitcoin code is technically easy to change, but if the changes are so big as to require a hard fork, many miners may not agree to change, and hence those code changes won't become effective. On the other hand, new crypto currencies can build in the necessary modifications and then start their operations, or add the changes later when there are not so many miners yet. The more miners, the harder it is to get them all to agree to upgrade to the newest code. Miners are those who define the network operations and they decide what will fly and what will not. Bitcoin's being the first in this market is both advantage and disadvantage, the disadvantage is the code changes are too conservative and slow compared to other coins. If people need such changes that a) Bitcoin developers might not agree to implement or b) miners will not agree to accept, then people could switch to another crypto currency. Actually this diversification has been going on for a while, top 5-10 cryptos from coinmarketcap if you're interested. Bitcoin is still the leader, because it still performs the basic function of relatively secure money transfer and store of value, and that's good enough for most people, for now. |
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Do you think that Doge will reach 1000 satoshi in future?
It's possible, maybe even this year if there is enough luck and if Bitcoin itself is out of the woods, and people start investing more fiat into crypto currencies. Over the past few months interest for that has been on decline, can't expect any crypto to prosper in that environment. If crypto currencies receive more media attention, like they did in November when the last Bitcoin price peak happened, then Dogecoin has a good chance to be at least on spot #3 at coinmarketcap. |
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Goodness, someone wants doge to stay down for a little while. On cryptsy, it will take 419 BTC to move Doge up 8 satoshi to 120.
Those are some heavy hitters.
really only 419 BTC for 8 sat? That would create 6,000 BTC marketcap for DOGE (2,666,574 USD) Someone put a fake sell wall @120 to scare buyers and accumulate cheap doges. They will sure remove it when the price comes close. |
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Adoption will accelerate when insolvent banks will start to be bailed-in at the expense of their depositors. Then crypto currencies adoption rates will spring by leaps and bounds, won't be long now, as people will rush to rescue their savings into something that can hold value and cannot be confiscated. The credit bubble can pop any day now and will trigger this bail-in process. Cyprus was just the early bird, watch for more cypruses soon. People still tend to think that money they deposit in the bank is theirs, well, there is a surprise waiting for them.
<sarcasm>
In view of all of the above, the problems set in the OP are miniscule.
</sarcasm>
Of course, those people who only have money to pay their debts and put food on the table can't invest in anything, bitcoin or not.
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So , I was pretty close when anticipating what will happen.
Too bad I din't throw in a few more btc.
A small pump and a small dump? Who cares about a few satoshi if you can play it big and long. |
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wow, crazy  |
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low 4-digit in 2014, like $2 000 or so, can't really be called a bubble.
5-digit in the second half of 2015, not high 5-digit number, but something on the order of $20 000-30 000.
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already planning sellpoint... not so wow.
Who said? please stop pulling things out of your ass Wishing to see prices higher doesn't mean that's a sell point. Who wouldn't want one's asset to appreciate. |
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