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GigaBit
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March 06, 2015, 10:09:45 AM |
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Many Altcoins will die and some won't die and here's why:
1- The Altcoin market cap is greater than Bitcoin. #CoinMarketCap
2- Altcoins are typically a lot faster than Bitcoin... by now, most Bitcoin users have switched over to a faster coin.
3- Some Altcoins devs treat their coin like a job #DigiByte
4- Some coins devs have reached some hefty investment dollars.
5- Bitcoin is becoming an alt wanna-be and some alts have better wallets.
The point of alts is to pick up the slack that Bitcoin couldn't tighten. Everyone wants Bitcoin to be more than what it is when it was never meant to be more than what it is. If anything, if Bitcoin keeps on doing whatever it wants to the code, the Bitcoin will die long before alts. Again, Bitcoin was the first popular Crypto and to this day is still the most popular. Just like SnowJet used to make the best snowmobiles 70 years ago, they're no longer in business today because other companies had more drive to success.
The coins that will die:
1- Uses a generic coin creation program #XPY
2- Uses the same spiel as Bitcoin (distributed, PoW) #BlackCatCoin
3- Devs have dropped the ball (95% of the time) or don't update #TEK
4- Have no direction, a coin created for the sake of creating one #FireFlyCoin
5- Have no marketing budget - Miners are not marketers. #Crypto Mining
For everything else, there's CoinWarz.
I recently sold all my last Bitcoin to buy in DGB at a low price. I guarantee you DGB has a much greater chance of doubling in price (50 sat now) than Bitcoin who's pretty much a rich man's game now. You want to strike it rich like the mining forefathers in any Gold Rush in history, your only chance now is via Alts because they typically follow Bitcoin's rise and fall but still have their own price independence.
Mining is a maverick's game, anyone who only mines Bitcoin's a damn fool. I've said it once and will say it again, you own the hardware, you can mine wherever you want, you have the opportunity to mine millions of full AltCoin that have a greater wider appeal and use. Stock up on easy to get coins whilst you can otherwise you'll become one of those trolls who do nothing but whine about having had the opportunity and not taking it. In the end, you will only be able to blame yourself.
Lots of experienced miners and traders here telling you Alts are often better than Bitcoin, take the hint.
When Bitcoin moons, AltCoin will move up along. When BTC went over $1,000, there were not as close to as many quality AltCoins as we got today. Some coins ride the Bitcoin wave, some seem to have their own market. I personally mine DGB because I believe it will replace PayPal... and they got a $250,000 investment a few months ago too. Lots more reasons I could sit here for days but those are my research dollars at work.
It's thing like that, you want to do your research... EXTENSIVELY!! Not just gather other people's opinion, other miners don't have your best interest at heart. For every coin I mined, I spent a few days researching their pros and cons and no coin I mined lost in value since starting mining it, whatever the coin is.
Just my wooden nickel...
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