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miragecash (OP)
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August 27, 2015, 06:26:31 PM |
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OK,
What crypto should I buy to hedge against BTC collapse? I mean look at Myspace, everybody used it then, BAM! Now everyone uses Facebook.
Monero - pros; I2p support, more anonymous than BTC
cons; too small capitalization, not liquid enough, high risk, nowhere to spend it (well, you could see a shrink in NYC)
questions; speed of confirmation of transaction? 2 min for how many confirmations? (it says 2 min on website)
Shadow - pros; zero knowlege crypto algo very impressive, most privacy.
cons; very small capitalization, illiquid, risky, nowhere to spend it (unless you like online gambling)
questions; speed of confirmation? zero knowlege algo not peer reviewed or review incomplete, no support for TOR nor I2P
Bytecoin - pros; more anonymous than BTC, shared key algo like monero
cons; same cons as Monero, no I2p support.
questions; speed of confirmation?
Any thoughts? Thanks.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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ArticMine
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Activity: 2282
Merit: 1050
Monero Core Team
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August 27, 2015, 11:52:37 PM
Last edit: August 28, 2015, 12:10:44 AM by ArticMine |
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The solution I am using is a mix of XMR (Monero) and CAD (Canadian Dollars). One can of course change the CAD for another fiat currency USD, EUR, CHF etc. The low capitalization of XMR vs XBT is a double edge sword. It means the upside is way higher but so is the downside. By diluting the XMR with fiat one can offset the impact of the low capitalization.
My estimate is that a 20% - 25% Monero with 80% - 75% fiat can work based on the past performance of alt-coins vs Bitcoin during a Bitcoin boom. A more aggressive investor (some who would for example borrow money of buy Bitcoin) could increase XMR component.
Edit: Think of Bitcoin as beer and Monero as port. (4% - 6% alcohol vs 20% - 22% alcohol)
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whap
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Merit: 10
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August 28, 2015, 12:11:06 AM |
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As for Monero not being spendable, there's a service where you can pay with XMR everywhere Bitcoin is accepted. Easy and simple. --> xmr.to Considering BCN, start here: https://bitcointalk.org/index.php?topic=740112.0And that seems to be only the tip of the iceberg. |
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ArticMine
Legendary
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Activity: 2282
Merit: 1050
Monero Core Team
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August 28, 2015, 12:15:34 AM |
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As for Monero not being spendable, there's a service where you can pay with XMR everywhere Bitcoin is accepted. Easy and simple. --> xmr.to Considering BCN, start here: https://bitcointalk.org/index.php?topic=740112.0And that seems to be only the tip of the iceberg. Ahh. Yes the above thread boils down to: Is Bytecoin an 82% premine (The most likely scenario) or an 82% ninjamine (The "official" Bytecoin version)? |
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whap
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Merit: 10
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August 28, 2015, 12:29:54 AM |
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As for Monero not being spendable, there's a service where you can pay with XMR everywhere Bitcoin is accepted. Easy and simple. --> xmr.to Considering BCN, start here: https://bitcointalk.org/index.php?topic=740112.0And that seems to be only the tip of the iceberg. Ahh. Yes the above thread boils down to: Is Bytecoin an 82% premine (The most likely scenario) or an 82% ninjamine (The "official" Bytecoin version)? Either way concluding in BCN not being as anonymous as it pretends to be. |
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deliveryman
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August 28, 2015, 12:35:08 AM |
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At the moment it seems that both Monero and Shadow are taking the lead. I don't see a place for Bytecoin because Monero > Bytecoin.
Shadow's technology seems to be the best for privacy and anonymity.
Chances are that once the shadowmarket releases it will take a huge rise.
Monero is something impressive aswell. I'd say go 50/50 in Shadow and Monero. If you rather go all in, go for Shadow.They are also working on implementing I2P so that might answer one of your questions. Transactions usually take around 2 mins.
Keep in mind im a huge Shadow fan so my opinion is biased. I really love Monero too though.
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Wheatclove
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August 28, 2015, 01:52:10 AM |
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Any combination of Monero and Shadow. I'd stay away from Bytecoin.
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rnicoll
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August 28, 2015, 11:05:36 AM |
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OK,
What crypto should I buy to hedge against BTC collapse? I mean look at Myspace, everybody used it then, BAM! Now everyone uses Facebook.
Monero - pros; I2p support, more anonymous than BTC
cons; too small capitalization, not liquid enough, high risk, nowhere to spend it (well, you could see a shrink in NYC)
questions; speed of confirmation of transaction? 2 min for how many confirmations? (it says 2 min on website)
Shadow - pros; zero knowlege crypto algo very impressive, most privacy.
cons; very small capitalization, illiquid, risky, nowhere to spend it (unless you like online gambling)
questions; speed of confirmation? zero knowlege algo not peer reviewed or review incomplete, no support for TOR nor I2P
Bytecoin - pros; more anonymous than BTC, shared key algo like monero
cons; same cons as Monero, no I2p support.
questions; speed of confirmation?
Any thoughts? Thanks.
It really depends on how you think Bitcoin will collapse? If it's a fundamental flaw in the Bitcoin Core code, Monero is the obvious choice. If it's something in the economics, you'd probably have to look outside that set. |
Dogecoin Core developer, ex-researcher, trader.
Unless stated otherwise, opinions are my own and do not necessarily reflect that of other Dogecoin developers.
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owm123
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August 30, 2015, 05:48:12 AM |
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OK,
What crypto should I buy to hedge against BTC collapse? I mean look at Myspace, everybody used it then, BAM! Now everyone uses Facebook.
Monero - pros; I2p support, more anonymous than BTC
cons; too small capitalization, not liquid enough, high risk, nowhere to spend it (well, you could see a shrink in NYC)
questions; speed of confirmation of transaction? 2 min for how many confirmations? (it says 2 min on website)
Shadow - pros; zero knowlege crypto algo very impressive, most privacy.
cons; very small capitalization, illiquid, risky, nowhere to spend it (unless you like online gambling)
questions; speed of confirmation? zero knowlege algo not peer reviewed or review incomplete, no support for TOR nor I2P
Bytecoin - pros; more anonymous than BTC, shared key algo like monero
cons; same cons as Monero, no I2p support.
questions; speed of confirmation?
Any thoughts? Thanks.
Bitcoin is not going to collapse anytime soon, or maybe not even ever. But at the same time, there is plenty of place for other coins to exist alongside bitcion, on condition that they provide something that bitcoin does not. Privacy and anonymity is one such thing, as all transactions are public in bitcoin. If you look for privacy and anonymity in your financial transactions, that bitcoin is not the way. Monero or Shadow seem to be good candidates for this at the moment. |
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