I was personally worried about the advent of new altcoins coming in and taking over Bitcoins position, or doing it better than Bitcoin, thus erroding it's position, and eventually taking it's position.

Now i don't. There are too many small altcoins vying for a piece of the Bitcoin pie. Many have a twist or innovation on the Bitcoin idea.. and most seem designed to make their inventors rich (pre-mining etc.)

Having read article after article regarding these altcoins.. i'm now more convinced than ever, that none of these new copy coins, alt-coins or whatever you want to call them will take Bitcoin's no. 1 position.

Why?

It's too big. The rest are minisculle when compared to Bitcoin and have no real advantage over Bitcoin.

So, my prediction for this buttercoin? Terrible name! It will fail like most of the others. There are approx 6-7000 alt coins out there.. how many can you name?

How many of these altcoins combined would it take to even have 5% of Bitcoin market cap??

Yes. November this year.

Oh and tips..

I think most people here would agree that Mt.Gox is a bad place to put your money at the moment.

They have payment problems. Meaning if you sell some coins, you will be waiting for quite a while for a withdrawal.

Bitstamp seems to be a good place to start.. and if you are just buying some coins, their prices are lower.

I started buying my first coins from Localbitcoins though.

Welcome!!

There are boards for mining.. and boards for pretty much everything Bitcoin. This is a great forum.

Do i think it will hit $200?? --> YES!

When do i think we'll see $200? Extremely difficult to say.

If we continue the current trend.. then maybe by dec-jan..

But there are ASIC miners coming online september and october.. that will give a better picture of where we're headed.

Welcome!!

Me a n00bie too.. and just posting inane drivel here on the newbie board until i get my posts up and i can post elsewhere.

Was gonna make a simlar (1st) post, but saw this and jumped in! Hello bitcointalk!