Secondard Altcoin Investment Advice

[uMMcQxCWELNzkt]

I would like to invest in a secondary digital currency, I am confident that Bitcoin has lots of room for expansion however it seems reasonable that at least one other alternative will grow with Bitcoin in the coming years. So, what coins should I be investing in, for the long term? At the moment I only have Bitcoins however I will likely add some alternatives too. So what would you recommend for the long term, please do not recommend coins that you *have created yourself* lol.

On a side note, I have a NVidia GeForce GTX 560Ti, can anyone recommend some worthwhile coins worth mining, I attempted mining Bitcoins and it seems my poor little GPU cant compete lol.

[zdarkazn]

I would like to invest in a secondary digital currency, I am confident that Bitcoin has lots of room for expansion however it seems reasonable that at least one other alternative will grow with Bitcoin in the coming years. So, what coins should I be investing in, for the long term? At the moment I only have Bitcoins however I will likely add some alternatives too. So what would you recommend for the long term, please do not recommend coins that you own or have created yourself lol.

On a side note, I have a NVidia GeForce GTX 560Ti, can anyone recommend some worthwhile coins worth mining, I attempted mining Bitcoins and it seems my poor little GPU cant compete lol.

Lol ok. I guess theres only unpopular coins left

[uMMcQxCWELNzkt]

I would like to invest in a secondary digital currency, I am confident that Bitcoin has lots of room for expansion however it seems reasonable that at least one other alternative will grow with Bitcoin in the coming years. So, what coins should I be investing in, for the long term? At the moment I only have Bitcoins however I will likely add some alternatives too. So what would you recommend for the long term, please do not recommend coins that you own or have created yourself lol.

On a side note, I have a NVidia GeForce GTX 560Ti, can anyone recommend some worthwhile coins worth mining, I attempted mining Bitcoins and it seems my poor little GPU cant compete lol.

Lol ok. I guess theres only unpopular coins left

Sorry, I mean coins you have created/coded personally and would be biased towards promoting lol.

[CoinHoarder]

You should invest in the coin that all the new coins are copying off of because it is so succesful and awesome... Litecoin.

Anyone that tells you any different is wrong.

PS: I own <200 LTCs

[Walter Rothbard]

I recommend Bytecoin.  It's the reference altcoin.  If altcoins have any value in general, then Bytecoin has some value.  Plus Bytecoins value may really pick up in the distant future as Bitcoin becomes more expensive per unit.  I think over time a series of identical coins created at each Bitcoin halving have the potential to take over smaller transactions and become "change," or "silver" to Bitcoin's "gold."

So far I don't see that any of the altcoins add a whole lot to Bitcoin, although in general I think the diversity is good.  I think Bitcoin's design on its own has plenty of potential to succeed, and therefore if there's going to be an altcoin, I think one that trails Bitcoin has plenty of potential.

I actually tried to create something like Bytecoin awhile back but had too many projects running at once to figure out how to create a new genesis block and chain.  When it emerged, I jumped on board.

Prior to Bytecoin, I favored the most Bitcoin-like altcoin, Terracoin.  I still like it and hold a small amount, and as you can see it still holds value.  Do some reading into the history the last few months though.  It is likely applicable to both Terracoin's future and Bytecoin's.

[zdarkazn]

You should invest in the coin that all the new coins are copying off of because it is so succesful and awesome... Litecoin.

Anyone that tells you any different is wrong.

PS: I own <200 LTCs

I think he already invested in LTC, i see an address in his sig.

[CoinHoarder]

You should invest in the coin that all the new coins are copying off of because it is so succesful and awesome... Litecoin.

Anyone that tells you any different is wrong.

PS: I own <200 LTCs

I think he already invested in LTC, i see an address in his sig.

At the moment I only have Bitcoins

[jasinlee]

Bytecoin is sha256 iirc, so luke jr asic attack and will there be a bytecoin anymore?

[psybits]

Bytecoin is sha256 iirc, so luke jr asic attack and will there be a bytecoin anymore?

No. Bytecoin unfortunately at the moment is a trap.

[Walter Rothbard]

Bytecoin is sha256 iirc, so luke jr asic attack and will there be a bytecoin anymore?

That would be awesome; then we could all mine Bitcoin while he does it!

[uMMcQxCWELNzkt]

You should invest in the coin that all the new coins are copying off of because it is so succesful and awesome... Litecoin.

Anyone that tells you any different is wrong.

PS: I own <200 LTCs

I think he already invested in LTC, i see an address in his sig.

Actually I got as far as downloading the wallet however I have not bought any as of yet.

Thanks for the replies, I guess the best way of determining long term potential is through acceptance of merchants? A currency is not really long term unless people use it to buy/sell items, from this perspective any changes of mind?

My interpretations of the curriences so far, I am still relativly newbish so I migh have a false perspective.

Litecoin: A lightweight version of Bitcoin, basically the silver of Bitcoins gold value
Terracoin: A dinosaur lol? Something about it just comes across as old, I dont hear about it much, the same goes for PPcoin
Bytecoin: I need to look more into this
CHNcoin: Seems to be a new trend in coin? At the moment I see it as a fad, the CHN market like to adopt Western tech anyway

Forgive me if my newbish perspective of these coins in a little off.  

[Barnacle_Ed]

Devcoin. (Disclaimer: I do own some Devcoins and write for devtome)


1) Merge-mined with BTC. So you lose none of your hashing power and only stand to gain from doing this. Plus it has the backing of the BTC network, so it's that much more stable.

2) Ethical. Most of it goes to creators (developers, writers, musicians, etc), so unlike a lot of the coins on this subforum that turn into frantic pump-and-dumps with no real substance, there are real incentives for contributing to the project.

3) Already established and traded on some exchanges, unlike some of the newer currencies.



Only downside is it will probably be less lucrative than some of the other altchains. But you know this one will be safe and it'll be a good cause.

[jasinlee]

Devcoin. (Disclaimer: I do own some Devcoins and write for devtome)


1) Merge-mined with BTC. So you lose none of your hashing power and only stand to gain from doing this. Plus it has the backing of the BTC network, so it's that much more stable.

2) Ethical. Most of it goes to creators (developers, writers, musicians, etc), so unlike a lot of the coins on this subforum that turn into frantic pump-and-dumps with no real substance, there are real incentives for contributing to the project.

3) Already established and traded on some exchanges, unlike some of the newer currencies.



Only downside is it will probably be less lucrative than some of the other altchains. But you know this one will be safe and it'll be a good cause.

+1 I would recommend hording dvc on top of your current btc mining just to help a good cause. The users that get paid in dvc are required to release their projects and code open source.

(Disclaimer: I also work with devtome.com)

[uMMcQxCWELNzkt]

Devcoin. (Disclaimer: I do own some Devcoins and write for devtome)


1) Merge-mined with BTC. So you lose none of your hashing power and only stand to gain from doing this. Plus it has the backing of the BTC network, so it's that much more stable.

2) Ethical. Most of it goes to creators (developers, writers, musicians, etc), so unlike a lot of the coins on this subforum that turn into frantic pump-and-dumps with no real substance, there are real incentives for contributing to the project.

3) Already established and traded on some exchanges, unlike some of the newer currencies.



Only downside is it will probably be less lucrative than some of the other altchains. But you know this one will be safe and it'll be a good cause.

+1 I would recommend hording dvc on top of your current btc mining just to help a good cause. The users that get paid in dvc are required to release their projects and code open source.

(Disclaimer: I also work with devtome.com)

This is interesting, I like the fact that this is Bitcoin merged, plus I like to go with more ethical options.

After reading musicians listed I am curious about what kind of input they have on Bitcoin? As a designer I do value creativity so is it just generally supporting creative individual and contributes. I have always assumed Devcoin was a coin specific to a group of developers(coders) so I am curious how other professions tie into the coin.

[ritchan]

DevCoin sounds interesting - but exactly how would it benefit developers? We donate DVCs or what? How is this any different from donating to their BTC address? Its value would be (and is) so small that it can't really support developers IRL.

I would recommend LiteCoin for the long term because there's a whole community built up around it and it's getting mentioned in the same sentence as BitCoin recently. But mining LiteCoin directly is not the most efficient way to get LTC...

[monocolor]

this alt coins like the dot com back in 1999-2000, everyone tries to push for it, the result: more and more comes out, at some point all will become useless, lol

[CoinHoarder]

I agree, I like dev coin, however I don't really see merge mined coins as "ALT coins" since their networks are tied to Bitcoin.

I see them as part of Bitcoin.. Bitcoin mining freebies.

That should definitely be a consideration, however Dev coin has been around for a while and it hasn't really gained traction yet, I'm not sure if it ever will. It would be wonderful to see it used for its original intended purpose.

[iCEBREAKER]

this alt coins like the dot com back in 1999-2000, everyone tries to push for it, the result: more and more comes out, at some point all will become useless, lol

That's right!  "At some point all" the dot coms became worthless.

Especially Google.  And Apple.  And Yahoo.  And Pandora.

/fucktard   

[uMMcQxCWELNzkt]

I agree, I like dev coin, however I don't really see merge mined coins as "ALT coins" since their networks are tied to Bitcoin.

I see them as part of Bitcoin.. Bitcoin mining freebies.

That should definitely be a consideration, however Dev coin has been around for a while and it hasn't really gained traction yet, I'm not sure if it ever will. It would be wonderful to see it used for its original intended purpose.

I am all for merged coins with Bitcoin as I have been setting up a number of merchant stores and most of the available payment gateways(very few) only support Bitcoin. I don't fully understand how "merged" works though, I assume merged goes beyond a clone and has a direct effect of Bitcoins distribution?

[skull88]

You should invest in the coin that all the new coins are copying off of because it is so succesful and awesome... Litecoin.

Anyone that tells you any different is wrong.

PS: I own <200 LTCs

+1

PPcoin is also worth looking at imo.

Things you should avoid like it's the pest: feathercoin, chinacoin, bytecoin, any other coin that is a 1:1 copy. I'm not a programmer, but even I can make a coin like that, everybody who can follow a guide, can do it. At first it was amusing, now I start to get the feeling they could potentially damage the alt coins that actually bring something different.