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Author Topic: What benefits your favorit altcoin have to BTC?  (Read 1862 times)
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October 24, 2016, 11:29:17 AM
 #21

Hello!

Why are you using the altcoin that you are currently using?

What benefits do an altcoin have compared to BTC?

I wonder why we would like to have altcoins when we have BTC already.

Many so called alt coins are like a testbed for implementing new ideas and trying things out instead of playing with the Bitcoin network. Personally I like Dash with its governing model and instant confirmations (~1.5 sec). I have used both BTC and Dash for buying things online, but BTC is still the most adopted in the tiny world of cryptocurrency payments. In a year things might be different as Dash is going towards a Paypal like platform, so we might see a major uptake in merchant adoption.

In my opinion, the main problem with Bitcoin is how hard it is to reach consensus in terms of development and implementation. SegWit looks like it could help solve some scaling problems that the network is facing, but what good does it do if 95% of the network cannot agree to use this or not.


Dash solves these problems by letting the larger stake holders cast a vote and decide the direction of the network, providing guidance for the lead developers as what to implement and how to build the Dash network.

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October 24, 2016, 02:43:02 PM
 #22

Hello!

Why are you using the altcoin that you are currently using?

What benefits do an altcoin have compared to BTC?

I wonder why we would like to have altcoins when we have BTC already.

Many so called alt coins are like a testbed for implementing new ideas and trying things out instead of playing with the Bitcoin network. Personally I like Dash with its governing model and instant confirmations (~1.5 sec). I have used both BTC and Dash for buying things online, but BTC is still the most adopted in the tiny world of cryptocurrency payments. In a year things might be different as Dash is going towards a Paypal like platform, so we might see a major uptake in merchant adoption.

In my opinion, the main problem with Bitcoin is how hard it is to reach consensus in terms of development and implementation. SegWit looks like it could help solve some scaling problems that the network is facing, but what good does it do if 95% of the network cannot agree to use this or not.


Dash solves these problems by letting the larger stake holders cast a vote and decide the direction of the network, providing guidance for the lead developers as what to implement and how to build the Dash network.
We definitely have quite a decision making process issue with Bitcoin and that seems like it will be the hardest thing to overcome, and it seems inevitable that for any major chance there will be a fork and a non fork version of bitcoin.

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October 24, 2016, 07:31:57 PM
 #23

Well it is kind of obvious, asic manufactors focus on one thing and one thing only sha 256, only a few companies are out there that focus on that, they mine internally and give the scraps later to the average user. Hard drives regardless of mining are used by every single computer out there (this is counting flash memory as well), many companies already exist to make these, there won't be the issue of self mining and home miners not being able to get hardware, if somehow this did create an increase in technology everyone regardless of mining would benefit. Power also is an issue, sure people could stack hard drives and data servers but a 6.5w to 9w for each typical 3.5inch hard drive. The antminer s9 consumes 1274w, you could have 141 hard drives compared to a single S9 (this is means home miners are able to attempt to compete on an average circuit).

So cool! Thank you alot! Thanks to your explanation I do not only obtained a better understanding about the benefits of Burst and got an example of the benefits of altcoins to BTC, but obtained a high level of interest, too, in Burst. I will have to check this altcoin out. I have access to free electricity, but getting asics are kinda difficult where I currently live. But I could get HDDs and could obtain the blessing of time if I start to mine it now and its price increases later in trading.

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October 24, 2016, 08:46:56 PM
 #24

Just only one reason, Bitcoin price is stable and my Altcoin price goes high.So only to earn money through trading, i use altcoins.
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October 24, 2016, 09:03:43 PM
 #25

Just only one reason, Bitcoin price is stable and my Altcoin price goes high.So only to earn money through trading, i use altcoins.
well that's the main purpose i guess the advantage of getting profits are the benefits that we are looking coming from our
supported alts the more it gained value from btc the more it will brings good profits.

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October 25, 2016, 07:10:40 AM
 #26

Hello!

Why are you using the altcoin that you are currently using?

What benefits do an altcoin have compared to BTC?

I wonder why we would like to have altcoins when we have BTC already.
My altcoins now is good but i can not compare it to bitcoin because bitcoin is my way to buying an altcoins so the benefits i get in my altcoins is earn more bitcoin.
I would like to have altcoins because to roll my bitcoin in there that is another source of investing bitcoin. Much safest than to invest it in hyip or any inveating site so much better to buy altcoins and keep it.

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October 25, 2016, 07:18:08 AM
 #27

Hello!

Why are you using the altcoin that you are currently using?

What benefits do an altcoin have compared to BTC?

I wonder why we would like to have altcoins when we have BTC already.
My altcoins now is good but i can not compare it to bitcoin because bitcoin is my way to buying an altcoins so the benefits i get in my altcoins is earn more bitcoin.
I would like to have altcoins because to roll my bitcoin in there that is another source of investing bitcoin. Much safest than to invest it in hyip or any inveating site so much better to buy altcoins and keep it.
I can compare this, my alt coin is already well more than bitcoin, and I can say that's can give me a lot of bitcoin in this day, average the trader just using bitcoin for their money... and cashing out into the fiat money and I just think if in this time the bitcoin traders are already moving into the altcoins.

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October 26, 2016, 07:09:21 PM
 #28

Well it is kind of obvious, asic manufactors focus on one thing and one thing only sha 256, only a few companies are out there that focus on that, they mine internally and give the scraps later to the average user. Hard drives regardless of mining are used by every single computer out there (this is counting flash memory as well), many companies already exist to make these, there won't be the issue of self mining and home miners not being able to get hardware, if somehow this did create an increase in technology everyone regardless of mining would benefit. Power also is an issue, sure people could stack hard drives and data servers but a 6.5w to 9w for each typical 3.5inch hard drive. The antminer s9 consumes 1274w, you could have 141 hard drives compared to a single S9 (this is means home miners are able to attempt to compete on an average circuit).

Will not this "proof of capacity" ruin the HDDs in the mining rig? What about SSDs and other similar hardware that has limited lifetime for writing? I could provide free space to "mine", but I have to consider if it ruins the device.
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October 27, 2016, 01:26:46 AM
 #29

biggest benefit: their transactions go through. Mempool spam.

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October 27, 2016, 01:59:43 AM
 #30

Hello!

Why are you using the altcoin that you are currently using?

What benefits do an altcoin have compared to BTC?

I wonder why we would like to have altcoins when we have BTC already.

1) No fees.
2) Quantum-secure.
3) More scalable then blockchain based coins.


I don't know exactly what altcoin you're talking about...?
He is talking about The IOTA project. Here is offcial website of that project: www.iotatoken.com
Also IOTA's annoucnemt thread on Bitcointalk: https://bitcointalk.org/index.php?topic=1216479.0

It is true that this alt has some fancy solutions implemented but it is more of a buzzword for geeks...
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October 27, 2016, 02:22:43 AM
 #31

Just only one reason, Bitcoin price is stable and my Altcoin price goes high.So only to earn money through trading, i use altcoins.
Yes almost all of users altcoins just for growing up the bitcoins with trading there is not other reasons, also there are not many developers of altcoins who be realy building their coins for real fungtion. It is just about business and taking profit via altcoins.
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October 27, 2016, 05:07:12 AM
 #32

Hello!

Why are you using the altcoin that you are currently using?

What benefits do an altcoin have compared to BTC?

I wonder why we would like to have altcoins when we have BTC already.

i want to have altcoin because i want to make profit with trading and i am not sure about what you said using the altcoin that you are currently using. the benefits do an altcoin is we can hold and sell for a good price and make our bitcoin more grow than before and then we withdraw that bitcoin into fiat so we can make much money.

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October 27, 2016, 05:01:56 PM
 #33

Hello!

Why are you using the altcoin that you are currently using?

What benefits do an altcoin have compared to BTC?

I wonder why we would like to have altcoins when we have BTC already.

I have a few of the gaming coins like c2, hyper, GP and XMR. They have backing through games that helps the market alot since they don't die out like most altcoins since they have an actually use. Then they have pos which is nice but usually can cause over inflation but in the case of GP it does not since GP as backing from numerous gaming sites and hopefully more and more in time.



                                                                                                                                                 
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boybugs18
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October 27, 2016, 05:42:07 PM
 #34

The benefits of my favorite altcoin is that it can generate more savings to my countrymen because bank are slow to use and mostly my countrymen sends money to their love ones by remittance so my favorite altcoin helping them for that "soon" .

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October 27, 2016, 05:57:25 PM
 #35

We all know that Bitcoin is the gold standard and reserve currency of all the alts.  in many ways the largest continuing investment for the past few years in bitcoin has been the development and use of alts.

that being said the best alts are those that compliment the use of Bitcoin.
For this reason I support the waves platform as it will be tied to mycelium and will allow a broader and more fluid use of all blockchains with Bitcoin being one if not its main asset/currency.

think Bitcoin tied with multiple currencies with the adaptation of NXT based assets, all in one easy to use platform.
waves itself will have 0 inflation and will only be the backbone of all these connections distributing transaction fees to those who are staking on the network.

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October 29, 2016, 03:41:23 AM
 #36

Hello!

Why are you using the altcoin that you are currently using?

What benefits do an altcoin have compared to BTC?

I wonder why we would like to have altcoins when we have BTC already.

ZEIT

No ASICS miners needed, We use Proof of Stake which is a Cooperative Collaboration verses PoW Combative Style aka ASICS ARMS RACE.
Our Energy requirements are less than a video game.
Our Number of coins run in the Billions so we will never lose the ability to process micro-transactions like BTC has.
Takes only 3 workstations to keep ZEIT network alive forever, plus it is economical to do so.
BTC has to run to ~$1300 per coin for me to double my money, ZEIT only has to go to 2 satoshi for me to double my money,
5 sat and I made 5 time my money, BTC does not have that potential.

ZEIT has an incredible Upside Potential that BTC does not.
No money is wasted on ASICS, any money for ZEIT will go directly into the coin price which over time will increase and as it does so draw in more users, which will increase the price even more.
Just a Matter of Time.  Wink

 Cool
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October 29, 2016, 05:55:32 AM
 #37

I see that the two main benefits that people have to BTC with altcoins are the transaction time and trading potential. I think, these two alone are good enough reasons to have altcoins, but I appreciate that some altcoins demonstrate additional innovation too like...

ZEIT

No ASICS miners needed,
Our Energy requirements are less than a video game.
Our Number of coins run in the Billions so we will never lose the ability to process micro-transactions like BTC has.
Takes only 3 workstations to keep ZEIT network alive forever, plus it is economical to do so.
BTC has to run to ~$1300 per coin for me to double my money, ZEIT only has to go to 2 satoshi for me to double my money,
5 sat and I made 5 time my money, BTC does not have that potential.

That's an interesting concept. So, you do not have miners, but direct investments into ZEIT's price? Why do nodes work for then at ZEIT?

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October 29, 2016, 06:34:42 AM
 #38

I see that the two main benefits that people have to BTC with altcoins are the transaction time and trading potential. I think, these two alone are good enough reasons to have altcoins, but I appreciate that some altcoins demonstrate additional innovation too like...

ZEIT

No ASICS miners needed,
Our Energy requirements are less than a video game.
Our Number of coins run in the Billions so we will never lose the ability to process micro-transactions like BTC has.
Takes only 3 workstations to keep ZEIT network alive forever, plus it is economical to do so.
BTC has to run to ~$1300 per coin for me to double my money, ZEIT only has to go to 2 satoshi for me to double my money,
5 sat and I made 5 time my money, BTC does not have that potential.

That's an interesting concept. So, you do not have miners, but direct investments into ZEIT's price? Why do nodes work for then at ZEIT?

Proof of Stake
hashProofOfStake <= [Coin-age] x [Difficulty Target]   
[Coin-age] = [amount of coins] x [days in stake]   
Coin-Days = Coin-age * block size.   
weight = coin age * balance   

So basically the blocks compete against other blocks to determine the next entry into the chain.
The Block with the most coins that have the most age , will win, and this generates more coins which is added to your block.
It will be another 20 days before this block is allowed to stake again.
ZEIT interest explained: https://bitcointalk.org/index.php?topic=487814.msg14873082;topicseen#msg14873082

Advantages to ZEIT PoS Specs compared to others,
earliest a block can stake is 20 days, this makes sure that large owners can not monopolize the coin generation and keeps their compound interest at a reasonable rate.
Users can place all of their coins in 1 block and only stake monthly or keep their coins spread out in multiple blocks so they stake more often and increase network security.

 Cool

FYI:
We also hold registrations once a year , to allow New ZEIT Knights to join,
each ZEIT Knight will hold 100 Million coins and pay a yearly 10% tithe on the interest which is donated to the Knight Fund to be used for Charity in the future when our price is higher.  About the Tithe https://bitcointalk.org/index.php?topic=487814.msg15175598#msg15175598
Becoming a ZEIT Knight is optional and should only be done if you have a strong desire to support ZEIT and its future charitable works.
Currently 15 Knights, Total # of Knights worldwide will only be ~300 .
TraderETH
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October 29, 2016, 06:49:50 AM
 #39

Well i use altcoins for right now is for making profit and collection, usualy i collect ethereum classic although it is just for small amount. And in my prediction ETC's price will be increase about one or two years later.
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October 29, 2016, 10:19:26 AM
 #40

We need to know that 99% of these Altcoins derived their value from Bitcoin, if not for Bitcoin who will trade them for Fiat currencies. Bitcoin is designed for all but most of these coins are for Pump and Dump and when the cycle is over they go back to floor value. Concerning technology, I think with the coming of Segregated Witness, this should make it possible to implement most of this useful technology on Bitcoin network

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