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Author Topic: Altcoins I like and why I have started accepting them for my readings LTC / UNO  (Read 652 times)
jacobmayes94
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November 21, 2015, 09:57:22 AM
 #1

There are not many altcoins I like. Most are really to me, crap coins. I really symphonize with the maker of Shitcoin (SHT) for this reason. However there are two altcoins I see with great potential, so much that I am accepting them for readings on my website (I do tarot readings for people over the phone and skype).

1. Litecoin - I feel that it can be the penny equivalent to bitcoin, I saw references to the silver to bitcoins gold. I agree, 21 million coins in bitcoin is NOT enough for a large population I don't think. So I think a secondary coin is needed, and I think litecoin fits this bill. Simple, and easy.

2. Unobtanium (UNO) - I loved this concept. A rare coin with only 250,000. Launched with no premine and fairly launched, and just a cool concept overall and a cool logo! I do see potential in this one, while I charge £15 for 30 minute tarot readings, and £30 for 1 hour readings on my site, any client who had managed to procure one of those (which stand at $1.44 per coin) gets a 30 minute reading for the price of $1.44. Just because I like the coin itself. Seems stupid. I am also merge mining it in a mining pool. I do many readings locally and via my website which is currently down as I have been working on a new one for my college project. To be fair a couple of clients think its quite an awesome challenge to try and get some of this coin to get a 'cheap' reading, provided they are buying the coin rather than mining it due to the high difficulty so cant be CPU mined and their lack of technical knowledge often. I have considered solo mining this coin but for the life of me cannot get the wallet RPC to work even with the conf file. And the difficulty is quite high, and I don't currently have the cash for an ASIC dedicated to this coin and feel id spend more in power than I would getting enough unobtanium. The logo, and concept for this coin none of it overdone, it is the first 'rare' cryptocoin and like bitcoin was the first crypto, no other 'rare' coins will come close now as its already been done. I am merge mining it at mmpool with my rigs which are in a pool. I wish the wallet could be in a self installer so people less technical could install it. Any client who obtains this, either by paying the cheap price for UNO (which is what most of my clients said they would do if they could find it as many of them are not technical enough for an ASIC and it is not CPU minable in my opinion)

Namecoin seems to be worth something but seems to have little to benefit over bitcoin.

Bytecoins massive premine makes me think its garbage.

Monero had a fair launch but its not user-friendly enough as of yet.



Jacob

EDIT: I posted this in the wrong section, it should have gone into altcoin discussion I had two tabs open







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November 21, 2015, 09:58:59 AM
 #2

There are many more coins which have nice tech.

Btw, BTC will have 21m coins in total, not 22m. You might want to edit your post.

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November 21, 2015, 10:02:34 AM
 #3

I edited my post Smiley It is the sheer number of altcoins and often have very similar function to others. BCN would have been good without the premine due to the cryptonote, I think monero has potential but it is not user friendly yet. With many others there are just so many I cant keep up with them. The population wouldn't want many different coins I don't think harder to manage, so a few with unique potentials seems better than many that are just forks with a name change, and some changing of the block reward and a couple of other things. But also the names. Bitcoin is a great name I think 'hey mate that will be 3 bitcoins!' Sounds good. In many altcoins they have even forgotten to replace 'bitcoin' in some of the software. There was one altcoin which I cannot remember now that I downloaded and it said 'bitcoin core is shutting down' on exit. Or in titcoin for example you go to the debug window and it goes 'Bitcoin - Debug window'.

'hey mate that will be 2 feathercoins' or 'hey mate six ziftrcoins' although ziftrcoin was intended to be a coupon type thing.

many of the names don't go into general conversation flow. Bitcoin, litecoin does. Unobtanium does not but due to the nature of it that is okay to me, hey mate, one UNO please sounds good.  Or 'mate I have some unobtanium if you are willing to trade'. Monero or bytecoin isn't too bad in this respect. Obviously this is subjective, I am thinking of a time when you walk into a shop with a mobile wallet or pay the bus driver with a mobile wallet. UNO I don't think is intended for widespread use, but for its rarity. Hold your phone over the terminal which carries the receiving wallets public key and presto paid. So the coins need to not only just launch with little change of something that is already good, but needs uniqueness, support and definitely mobile support, if any altcoin offered that out of the box complete with a system to accept payments before launch it has a better chance of gaining a foothold. Litecoin got mobile wallets later, bitcoin has them also.



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November 21, 2015, 02:55:34 PM
 #4

jacob,

i agree with this post.

Uno is a 'first' of a kind ... I think BTC, LTC, xmr, prime, peer, nxt, and ftc/vtc ... each created a new kind of network/coin and have been copied often ... they are the innovators.

UNO was first with rarity and fair distribution coupled with creating 4/5ths of the total coins in 2 years.  But the cool twist was hard forking to Merge Mining.  That means the hashing power of the bitcoin network secures UNO, but most of the coins were mined by amateur miners, you know average guys with a little bit of hashing power, not ASIC farms.

Now that UNO will be producing just 3 coins a day (halving coming soon) ... the ASIC farms give UNO 1000+ TH/s in return for less than $10/day ... because it's bonus points for mining BTC on MM pools.  BTW ... bitcoin network investors foot a daily bill of 3200*$330 ... ouch!

That makes UNO a first of a kind.  Store of Value.

The harmony of it all is Bitcoin is the "Liquidity" to move vast sums of money and UNO is the "Store of Value" that is designed to be low inflation yet secure.

( ps mods might move this to "discussion (altcoins)" )

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November 21, 2015, 04:26:24 PM
 #5

ltc died

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November 21, 2015, 04:57:05 PM
 #6

You should look into VNL. Vanillacoin has the best future of becoming a big used coin. However I doubt many people into math and crypto believe in fortune reading.

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November 22, 2015, 11:34:33 AM
 #7

About litecoin dying, I see this trumpted all the time, currently LTC is worth more than 99% of all the altcoins out there and there are plenty of people mining it and running the LTC network, keeping it going. Therefore, it is alive. Weather or not the devs are supporting it doesn't matter too much, in theory the devs of bitcoin will pass over long before the final coins are mined. UNO being a store of value I do agree. I am merge mining unobtanium in the mining pool I participate in. I should have 1 or 2 coins by December if i proceed that way. I am also selling some spare stuff and have opted to accept UNO for it on here.

If litecoins value tumbles to less than $1 and does not recover that's when I say its dead. But I am interested in getting an ASIC for litecoin myself and solo mining it. A decent ASIC, i want to buy a couple and total 200MH of mining power because I do trust in LTC.

Jacob



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November 22, 2015, 12:58:25 PM
 #8

jacobmayes94, what do you think the Ethereum (ETH)? Many people have been saying that ETH is the next big altcoin that can overtake Litecoin as the top altcoin. Many people have been selling the ETH that they got in the ICO so the price is dropping.
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November 23, 2015, 09:25:10 AM
 #9

I think that there are too much alt coins

Too much garbage.. They would do well if they begin to join together to make sense or simply close those useless projects

The world need only few cryptocurrency, not tons of garbage that waste time, resources and money
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November 23, 2015, 02:37:28 PM
 #10

ltc died

I don't know about UNO but LTC is still the biggest altcoin in the scene. If you think it's dead than probably any other altcoin is dead too.


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