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Question: Which poll option matches the reason your are involved in your own altcoin the best ?
I am a trader and not emotionally involved with any of the cryptocurrencies. I'm just in it for the profit. - 6 (24%)
I am drawn to the anonymity aspect of my cryptocurrency. I just want privacy in my transactions. - 5 (20%)
I am drawn to the peer to peer aspect of my cryptocurrency. I just want to use it for fast and instant transactions. - 1 (4%)
I am drawn to the value storage aspect of my cryptocurrency. Basicly i just want to hold it and hopefully see its value increase over the years. - 5 (20%)
I am drawn to the contracts and / or interested in building apps on top of a blockchain aspect of my cryptocurrency. - 0 (0%)
I am drawn to this poll out of sheer boredom and i dont really want to choose any of the above, so i choose this one. - 3 (12%)
Other (which i will hopefully explain in a reply) - 5 (20%)
Total Voters: 25

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Author Topic: [Poll] Why are you in an altcoin involved ?  (Read 990 times)
qwizzie (OP)
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December 24, 2016, 12:54:16 PM
 #1

If you are interested in this poll, then please participate by either voting, making replies in this thread or both.

Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
Vlad2Vlad
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December 24, 2016, 01:16:15 PM
 #2


H)  Because I wanna kill every other currency on earth and take over the world.

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qwizzie (OP)
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December 24, 2016, 01:17:08 PM
 #3


H)  Because I wanna kill every other currency on earth and take over the world.

Damn, i knew i was missing a poll option  Roll Eyes


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December 24, 2016, 01:26:43 PM
 #4

I use alts to try and spread my investments a bit and not go all in in bitcoin only.

Potential side effects are bigger gains at higher risk, but if you spread enough the winners usually more than make up for the losers.
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December 24, 2016, 01:32:01 PM
 #5

I use alts to try and spread my investments a bit and not go all in in bitcoin only.

Potential side effects are bigger gains at higher risk, but if you spread enough the winners usually more than make up for the losers.

Sounds like a good strategy.

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December 24, 2016, 01:38:04 PM
 #6


Damn, i knew i was missing a poll option  Roll Eyes


Newbie mistake I've made myself but it's cool, I chose the "other" option.  I'm versatile like that. 

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December 24, 2016, 01:56:30 PM
 #7

I think the potential increase with alts can be huge if you are in the right coin at the right time, a skill I am still trying to master.
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December 24, 2016, 02:13:18 PM
 #8

I think the potential increase with alts can be huge if you are in the right coin at the right time, a skill I am still trying to master.

Bitcoin can give small increase(20-50%) in year, altcoins may give 5-10x profit.

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December 24, 2016, 02:22:42 PM
 #9

I am in because of the trading profit, alt coin give more variation of investing option and sometimes it can give you big profit, and the other reason is I do believe one day there will be alt coins that can be as good as bitcoin, one day when so many people used bitcoin and the supply is not enough, some of the user will invest in other coin


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Freaks
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December 24, 2016, 03:07:57 PM
 #10

Though I used my vote for anonymity aspects but that is a part of my main reason of being involved in alternative coins. I am doing mixed things like I am emotionally attached to some of the altcoins and same time I am doing with other altcoins without seeing any attachment doing trades in them. There are several aspects which can not be explained in one option. I tried to explain my reason.
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December 24, 2016, 03:31:21 PM
 #11

I choose a for the profit because you don't put option for profit and anonimity and this is my primary interest to gain more profit in trading,but of course I also love anonymity and decentralized because this is th emain purpose of crypto currency.

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December 24, 2016, 05:02:54 PM
 #12

If you are interested in this poll, then please participate by either voting, making replies in this thread or both.


Wow, I ask you a question and you vanish for weeks and come back and start a poll regarding that very same question I put to you.

This is novel.

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December 24, 2016, 05:10:36 PM
 #13

you missed a poll option about minig and not only trading, i'm here because i mine altcoin for profit, because they offer a better alternative than the expesive asic that mine bitcoin, but i'm holding bitcoin because i see a great potential, therefore i'm not here for getting easy fiat money

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December 24, 2016, 08:11:25 PM
 #14

Privacy (anonymity, in your list).

The current fashion is "smart" stuff, like Ethereum, or whatever. However, if such a thing is needed, it will be built, it's only a matter of time. Same for most other things you might think of. Scaling, non monetary features, whatever. This will get done.

However, privacy is the single most important thing you can get behind now, because it will not be done if we don't do it ourselves, now. The future features above will get built either on a private platform, or on a non private platform, and the path of least resistance is definitely in the direction of the non private one. See how "the internet got it wrong" with privacy, and we're left to pick up the pieces ? Privacy is the one thing we have to get in right at the beginning, before it's too late and we end up having the nice stuff that's sure to come on top of a panopticon blockchain.

The market will push for all the shiny features, they'll come, that's a given. What we need to push for now is the stuff that is vital for freedom, but will not be pushed by the market, before it's too late. Do it, an do it RIGHT. Now. So that when the time comes and mainstream acceptance happens, it's too late for governments and corporates to screw us *again*, and we'll start off a platform which will respect our privacy - unless we select otherwise on a case by case basis. Let us have the choice.
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December 24, 2016, 08:18:22 PM
 #15

Other:


... only 4 mining shitcoins 2 get BTC.

Any "community driven efforts" were killed the last years
by "exchange-runnaways".

Sorry, that´s it.


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... please make an educated guess !
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December 24, 2016, 11:19:31 PM
 #16

Like them all, All about money... There is no other reason. I was involving in alt because I want to buy a single lambo for myself. Buy with a cent and sell them for a dollar per each.   Cool Cool

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December 24, 2016, 11:29:11 PM
 #17

I chose the first option in the poll because I don't love altcoins/cryptocurrencies for what they are, they are just a means to an end for me, which is profit, of course. I know there are a lot of altcoins lovers here on this forum (like ETH lovers, for example), and there is absolutely nothing wrong with that, but i'm bitcoin all the way up.

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December 24, 2016, 11:36:02 PM
Last edit: December 24, 2016, 11:56:07 PM by ArticMine
 #18

Other: The fixed blocksize limit in Bitcoin.

I have been involved with Bitcoin since 2011. Yes I have read Satoshi's paper https://bitcoin.org/bitcoin.pdf and believe in the vision for Bitcoin as presented in the introduction:

Quote
1. Introduction

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non-reversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need.

A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party. What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third  party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.

I have quoted this before. The critical part is in bold. The reality is that Bitcoin cannot meet the stated vision and objective with a fixed protocol limit of approximately three transactions per second on the blockchain. I came upon Monero in 2014 on this thread https://bitcointalk.org/index.php?topic=624223.0 while researching the blocksize issue in Bitcoin. At that point my total involvement with alt-coins was Namecoin which I had obtained as a by product of mining Bitcoin, and subsequently successfully traded for Bitcoin during the Bitcoin bull market of 2013. I had enough respect for Risto as a member of this community for me to at least do some due diligence on Monero even though there was no mention of the blocksize issue as a reason to buy Monero in the post. After discovering that Monero has at least the a reasonable chance of a viable solution to the blocksize issue in Bitcoin the rest became history. Many if not most of the supporters and detractors of Monero consider Monero primarially a fungibility, anonymity, privacy coin. My take is that Monero first addresses a much more fundamental issue; namely the ability to be able to transact in the first place. After all there is little point is having concerns over fungibility, anonymity and privacy of one's transactions if one is not even able to transact to begin with.

Edit 1: By far the majority of POW coins have the same fixed blocksize issue as Bitcoin with in some cases the ball being kicked down the road. Notable examples are: Litecoin, and "Monero competitors" such as Dash and ZCash.

Edit 2: I have come to the conclusion that for a Monero style adaptive blocksize to work a trail or permanent emission is an absolute must. Given that this involves for most POW coins a radical change in the social covenant I do not see a simple solution for most POW coins including Bitcon here. One notable exception is Dogecoin since it already has a tail emission.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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December 25, 2016, 12:15:15 AM
 #19

If you are interested in this poll, then please participate by either voting, making replies in this thread or both.


I believe in completing Satoshi's vision by advancing the bitcoin protocol, improving network security, and never crippling the main chain. Since this is not possible with bitcoin, I have come to make this happen in the altcoin world. Our network currently has over 10X the transaction capacity of bitcoin and is better managed.
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December 25, 2016, 12:22:32 AM
 #20


I believe in completing Satoshi's vision by advancing the bitcoin protocol, improving network security, and never crippling the main chain. Since this is not possible with bitcoin, I have come to make this happen in the altcoin world. Our network currently has over 10X the transaction capacity of bitcoin and is better managed.

Sadly [for you] Satoshi beat you to it.  Smiley

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