Hello All,
I am a newbie here. I have read about bitcoin and been a follower for many years but recently really started reading more about it and getting interested in applying typical financial practices with Bitcoin and other Cryptocurrencies such as Feathercoin & Litecoin.
What will help the growth and adoption of Bitcoin, is a diverse selection of cryptocurrencies. Rather than competing against one another (for the almighty dollar valuation), cryptocurrency diversity will bring a stability to all cryptocurrencies, and a different set of basic ideals which may be suitable for one community or another.
One possible way to promote diversity is to create an index fund, funded by bitcoin, which purchases Feathercoin, Litecoins, and other alt-cryptocurrencies. How much interest would there be in creating something like this? In a few days I will put .1 BTC into the wallet
1KRVrLokLvVaKgFZuVo5VBxN4TwWXQdHkZ
and all funds will be used to diversify in other cryptocurrencies.
For Example, if you look at the chart of LTC/BTC:
http://www.cryptocoincharts.info/period-charts.php?period=1-year&resolution=day&pair=ltc-btc&market=btc-eYou will notice that the price of Litecoins has decreased significantly in relation to Bitcoins. This rise is attributable to the recent spike in the price of Bitcoin, so if you are looking to invest in an underpriced asset, Litecoin will be a great way to go, because as Bitcoin gets larger and more media attention, naturally other cryptocurrencies will start to receive attention as well. I look forward to sharing my ideas and learning more about the community at Bitcointalk.org.