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litecoin and dogecoin will change places in three months. It was only three months ago that litecoin was at 100 milion.
LITECOIN not DOGE is the overvalued blip on the historical alt coin radar. 2014 will be the year of the DOGE.
As you can probably tell in my previous posts, I fully support dogecoin, but I think you are either joking around or are delirious. Bitcoin has secured it's spot as #1 and Litecoin has secured it's spot at #2, in terms of not just value but popularity. Can dogecoin be #3? Sure why not, but it will never come close to Litecoin. You know I use to believe this as well, but in the last couple weeks I've had my doubts. Mostly because of how active the DOGE coin community is, and because in the last couple weeks DOGE coin has had more trade volume than LTC. This is significant because LTC is a coin that is readily used as a base currency. People buy/sell other coins using LTC and BTC... So that fact alone should cause both BTC and LTC to have the highest trade volume almost always... yet DOGE took over the #2 spot for several days. (I haven't looked at it lately). That's pretty ridiculous stat if you think about it more. So yeah, you are probably right... LTC will probably always be #2. However I wouldn't bet on it. |
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In my opinion, you want to buy/mine a coin that has yet to be widely discovered.
Once the media and the whole world has jumped in, there will be less upside potential. The trick is to find the coin before the massive run up in price.
How to find the next winner:
Take a look at the list of coins on coinmarketcap.com and look for those that are undervalued. The trick is to find coins that have a disconnect between underlying fundamentals and market price. Do your homework and realize that coin value is derived from; coin name, size and quality of community, and developer genius.
Then read, study, and research, and find the coins that the markets have not yet found.
And I'll disagree that crypto currency follows the standard economics of Fiat currency. What you described is exactly how you would invest in the stock market. You'd consider which companies have a low marketcap and have a product that could cause that marketcap to push significantly higher. With Crypto currencies you have no such product, you only have FUD with no intrinsic value. Crypt-Currencies are a lot closer to the 2001 dot-com crash than they are to the current version of the stock market. The most important question you can ask yourself when buying coins is "do I believe in the future the internet hype of this coin will cause its value to sky rocket"? Yes you are right, with small marketcap coins you can get a lot, and if they do take off... jackpot. But it's likely those coins wont take off. Best bet for coins taking off is probably within the first couple months of their life. Coins I currently like a lot and would like to own as much as I can DOGE MoonCoin TIPS I even think some older coins have good buy value at the moment... Coins like DMD GLX So am I an expert at this? No. no one is. If you can model the irrational nature of this, then I'd very much like to see your algorithm. Im working on some myself, but in no way think I am an expert. |
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I believe it will grow to .00005 over the next couple of years. I think It will be worth roughly 4-5 US Cents per coin. That's when I plan on selling, and while it's under that price... Im buying.
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buy: Doge Mine: Doge  Can somehone sincerely say why this coin is of any interest ? I do not understand the added value of a coin with a dog on it ! It is just unbeleivable. This can not be serious, this can not last. Yes I can. First - Let me ask you a rhetorical question - Why do any of these coins have value? We are using supercomputers to calculate dummy data that literally serves no purpose, yet for some absurd reason people find value in them. From this perspective society should give this whole idea a huge slap upside the head. Anyways, im done with my soap box rant, so let me provide you my real answer to value. - 1. BTC has value and is the safest because it is the standard conversion currency for all crypto-currency. It is the USD of the crypto world, and if something ever happened to make it's value be zero, every single other currency would instantly be 100% worthless.
- 2. Value of a coin is 100% dependent on market demand of that coin. Why do people want it? This is very text book supply and demand.
- A. The biggest factor in DOGE's value is the community. Probably the largest active community. They love their coin
- B. There are online stores where you can spend your DOGE for stuff... like an XBOX1.
- C. The confirmation times of DOGE coin are fast, so it can actually be used to buy stuff quickly unlike BTC/LTC
- D. World news stations are covering it because the community is sending people to the Olympics and stuff
So that's why. I actually think DOGE coin is probably the most valuable coin out there. If I was picking one coin to put all my faith in... It's DOGE for the reasons I just said. How about you tell me why you dont think it is worth anything of value. BTW - In case you wanted to tip for my advice, my DOGE address = DTGmiJLnn1r941s4Rb2JNjttTXt7Ht2BnY |
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Im trying not to freak out here, but when my DOGE came back it came back with 35-40% less than what I had. It's hard having patience at times like this.
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That's exactly right. So really the question you need to answer is, how reasonable is it that this coin will get some irrational hype and cause it to inflate? I don't have the answer to that... but if it does, with such a low market cap you can make a lot.
It reminds me a little of MoonCoin. I jumped on MoonCoin on release and mined it for a week, and even bought some because it had such a low market cap and had a good deal of forum coin talk. For the next 3-4 weeks on coinex you either could sell what you had for .01 ubtc/moon or you couldnt sell it at all. This coin was dead, and I kept what I had because at the current market value it was worth more to me then what people were buying. I expected it to be de-listed and I'd just store my coin in my wallet. Then one day, it jumps in value by 10x, and the next day it was up 40x. I sold all at 35x...
My question for you is why MoonCoin and not NYM? I'll tell you that one of my tests for the value of coins is if cryptsy will carry them. anyways, perhaps someone will have more information for you on NYM. I'll just add, if you do decide to buy - just consider it money you are throwing away and may never see again.
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Like everyone else here, I am no expert. From my perception though, crypto-currencies do not follow the standard model of economics that a lot of our Fiat infrastructure is built on. The relative net worth of a coin is not dependent on market cap or supply, but really more dependent on irrational internet hype of the coin. So although I do agree with you that such a small market cap can leads to big returns, that market cap in and of itself doesn't make that coin more popular and hence more valuable.
I've not looked into the details of this coin you mentioned. I don't even think looking at market caps and buying based on them is a bad idea... I do that too. Just throwing my 2 cents out there that internet hype is worth more than market caps.
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Let's exchange on here until it's listed on Cryptsy!
Exchange through PM.
POST YOUR ORDERS ON THIS THREAD
Sure... I'll give you 1 MEC for 1 million COYE. deal? PM me |
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Worst-coin-release-ever. And the funny part about it is I was actually going to over look the 2000*666,666=1333332000 premined coins. But tried 5 different pools, and all couldnt stay working for more than 20 seconds before having my worker sit idle... F that. Im back to mining something that will actually be worth something.
It wasn't 2000 premined tbh. The first pool went up when 1000 blocks were mined. 1k out of 200k. Or lets say 2k blocks then. That's 1% and I think it will be used for giveaways and promotions! There's no premine, it's exactly like the moon coin launch. You had to be on the lucky pool to mine at diff 0.00x. You would have get something like a few millions of COYE, dumpable for a few BTC at the very first exchange (coinedup/coinex). Yes this is a lottery. Last time I checked, MoonCoin didnt premine but the other pools just werent as stable as multipool. Coinye on the other-hand said they were going to premine before it went live. I just didnt realize it was going to be so much. And I also didnt realize how bad some pool sites are. So maybe one of the bigger differences is I didnt realize how good I had it with multipool. check out this premine coinye discussion http://www.reddit.com/r/coinyewest/comments/1ubil1/request_for_transparency_on_the_percent_or_number/man this sucks, I should just throw my 600k in the trash... yep. I really hope Norris Coin has a better launch. |
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Worst-coin-release-ever. And the funny part about it is I was actually going to over look the 2000*666,666=1333332000 premined coins. But tried 5 different pools, and all couldnt stay working for more than 20 seconds before having my worker sit idle... F that. Im back to mining something that will actually be worth something.
It wasn't 2000 premined tbh. The first pool went up when 1000 blocks were mined. 1k out of 200k. Or lets say 2k blocks then. That's 1% and I think it will be used for giveaways and promotions! There's no premine, it's exactly like the moon coin launch. You had to be on the lucky pool to mine at diff 0.00x. You would have get something like a few millions of COYE, dumpable for a few BTC at the very first exchange (coinedup/coinex). Yes this is a lottery. Last time I checked, MoonCoin didnt premine but the other pools just werent as stable as multipool. Coinye on the other-hand said they were going to premine before it went live. I just didnt realize it was going to be so much. And I also didnt realize how bad some pool sites are. So maybe one of the bigger differences is I didnt realize how good I had it with multipool. check out this premine coinye discussion http://www.reddit.com/r/coinyewest/comments/1ubil1/request_for_transparency_on_the_percent_or_number/ |
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Worst-coin-release-ever. And the funny part about it is I was actually going to over look the 2000*666,666=1333332000 premined coins. But tried 5 different pools, and all couldnt stay working for more than 20 seconds before having my worker sit idle... F that. Im back to mining something that will actually be worth something.
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Im surprised at the number of replies to this thread... so ill add a couple more thoughts.
1. I wonder how successful ASIC Scrypt miners will really be.
2. Im currently working on my own FPGA implementation, learning the backend algorithm is kinda fun.
I would imagine they should be about the same once they're programmed to work on scrypt algorithms. Some say SHA-256 is simpler then Scrypt...so maybe the ASIC chips will be slower? IDk lol. I don't believe that is the case. I have not spent any time trying to optimize SHA-256, but from what I understand it is an algorithm that is naturally parallelized and as such custom ASIC's can be produced to crunch these numbers faster. Scrypt on the other-hand was specifically designed to make it costly to perform large scale custom hardware attacks by requiring large amounts of memory. This doesn't mean it is impossible to come out with better custom Scrypt hardware, however those that are successful at it will have to be more creative than SHA-256 designers. I'm currently working on it, however I'm more doing it for fun than for profit. I have a day job, so my time spent on this is fairly limited. |
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Thank you
DTGmiJLnn1r941s4Rb2JNjttTXt7Ht2BnY
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Im surprised at the number of replies to this thread... so ill add a couple more thoughts.
1. I wonder how successful ASIC Scrypt miners will really be.
2. Im currently working on my own FPGA implementation, learning the backend algorithm is kinda fun.
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I'm into mining alternate crypto currencies... Here are some of my thoughts on the subject
1. I wish Cryptsy 2-step worked. The site is really neat, but sometimes I think it suffers from the load. Seems like the best site like that out there
2. I wished I had more GPU's. I only have a R9 290x.
3. I think there are a lot of dishonest pool sights out there. I could name names but I think that's probably a bad idea.
4. I wish I could post here.
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