I was thinking about diversifying a small portion of my bitcoin holdings into other cryptocurrencies and would appreciate any feedback.
The ones I am considering are as follows:
TRC - I like the idea of 42 million units total instead of 21 million. I realize that each coin is divisible into 100 million units. As long as the inflation rate and total amount of coins produced is set in stone then I would opt for more coins just in case of global adoption.
PPC - This one is a bit different with respect to the hybrid minting system and there is no set amount of coins to be produced. However, the developers say that inflation should be capped at around 1%/year which is acceptable. Maybe worth a shot.
IXC - Ok I know this one is struggling mightily and there was some pre-mining but the coins are cheap. It would be like buying a lottery ticket. Maybe it will have some future value.
LTC - Im on the fence with this coin because of the low network hashrate. According to bitcoin wiki:
https://en.bitcoin.it/wiki/LitecoinTo do so we start with an estimated cost of hardware at $600 per megahashes per second and the March 14, 2013 Litecoin network hashrate of 2,500 megahashes per second. The total amount of equipment necessary to match and takeover the Litecoin network via 51% attack is then an estimated $1.5M USD (or about 5,000 AMD HD 5970s). There are tens of thousands of GPUs that are in the process of being made unprofitable for mining on the Bitcoin network ASICs. While these GPUs may be redeployed for Litecoin, a proportional and sustained rise of the Litecoin exchange rate would be required to support this additional GPU mining activity.
I would like to know what hashrate (Equipment $ amount) would be necessary to attack the system at a market cap similar to bitcoin - about $500 million.
Any reason why I should not invest in any of these currencies?
Thanks
