A warning about Alt-Coins

[hilariousandco]

Is there any software (preferrably for mac), that can accept wallets of any kind? It's frustrating that you have to have a wallet software for each and every altcoin separately.

No, but I believe developers are working on 'multiwallets'. They probably won't be able to hold all coins, but some of the most popular ones.

[azguard]

No, but I believe developers are working on 'multiwallets'. They probably won't be able to hold all coins, but some of the most popular ones.

I hope so that this will come to see a day light. This will be great if that come in next year perhaps.

 

[PenAndPaper]

Is there any software (preferrably for mac), that can accept wallets of any kind? It's frustrating that you have to have a wallet software for each and every altcoin separately.

I think electrum might introduce a litecoin wallet some time in the future so it's a first step for a wallet with multiple coin support.

[Marko69]

Nice writing.. thanks!

[coinscoinscoins]

What do you think how high LTC is going?

I watched two eBay auctions end of few days ago with final sales of 20 and then 30 LTC coins go twice over the official exchange displayed rates.

I think there is a lot of speculation driving it up, but the people buying are doing so because (maybe):

1. they feel they can't afford to get into BTC.
2. they feel they have missed the boat on BTC.
3. LTC looks cheap compared to BTC and it might go to $1,000 soon - which it might at this current rate.
4. existing players feeling priced out of mining and turning to other coins
5. people in some countries, like the UK, can't access exchanges to buy so they look for other more expensieve ways to purchase

Good points! One thing also could be that people don't trust bitcoins anymore as a real and stable currency, because of the radical changes in the price.

[PenAndPaper]

I watched two eBay auctions end of few days ago with final sales of 20 and then 30 LTC coins go twice over the official exchange displayed rates.

Isn't selling coins on ebay risky. I mean you can chargeback on ebay like paypal can't you?

[85dfa0525]

Buying LTC on eBay can be risky if you are dealing with sellers with low feedback score. I remembered I won the bid on 10,000 infinitecoin and didn't get nothing in return

[hilariousandco]

I watched two eBay auctions end of few days ago with final sales of 20 and then 30 LTC coins go twice over the official exchange displayed rates.

Isn't selling coins on ebay risky. I mean you can chargeback on ebay like paypal can't you?

Yes it is, but sometimes it's worth the risk because the mark-up is so huge. I bought all my first coins on ebay with paypal and was happy to pay a little premium for the ease of getting them without doing bank transfers and going through exchanges. I also liked that if I got scammed, I would be able to get my money back. Thankfully that didn't happen.

[PenAndPaper]

I 'm not talking about buying. I 'm talking about selling since the buyer can wait for the coins to arrive and then open a dispute and chargeback the money. It's risky for the seller.

[coins101]

I watched two eBay auctions end of few days ago with final sales of 20 and then 30 LTC coins go twice over the official exchange displayed rates.

Isn't selling coins on ebay risky. I mean you can chargeback on ebay like paypal can't you?

Yes it is, but sometimes it's worth the risk because the mark-up is so huge. I bought all my first coins on ebay with paypal and was happy to pay a little premium for the ease of getting them without doing bank transfers and going through exchanges. I also liked that if I got scammed, I would be able to get my money back. Thankfully that didn't happen.

Buying on eBay probably the most costly way to do, but only because of the competition from others. The bigger risk is being suspended from eBay and PayPal because I don't think they allow it. They just don't have the people or technology to stop all the sellers at the moment.

[hilariousandco]

I 'm not talking about buying. I 'm talking about selling since the buyer can wait for the coins to arrive and then open a dispute and chargeback the money. It's risky for the seller.

Well, with every transaction there's going to be a seller. I didn't issue a charge-back and everybody was happy. There are ways of getting around or minimising being scammed, but like everyone has said, it is very risky selling. Depends if you’re prepared to take the risk, and if you are the premium price you get for your coins will pay off. You can even afford to get scammed a couple of times and you'll still be in profit.

I watched two eBay auctions end of few days ago with final sales of 20 and then 30 LTC coins go twice over the official exchange displayed rates.

Isn't selling coins on ebay risky. I mean you can chargeback on ebay like paypal can't you?

Yes it is, but sometimes it's worth the risk because the mark-up is so huge. I bought all my first coins on ebay with paypal and was happy to pay a little premium for the ease of getting them without doing bank transfers and going through exchanges. I also liked that if I got scammed, I would be able to get my money back. Thankfully that didn't happen.

They just don't have the people or technology to stop all the sellers at the moment.

They do. All they need to do is simply put into place something that auto-checks listings and disallows them with any mention of certain keywords such as 'bitcoin'. You can list games consoles on ebay, but if you put the words 'chipped' or 'hacked' or 'modified' in there it wont let you list it.

[coins101]

Is there any software (preferrably for mac), that can accept wallets of any kind? It's frustrating that you have to have a wallet software for each and every altcoin separately.

I think electrum might introduce a litecoin wallet some time in the future so it's a first step for a wallet with multiple coin support.

If they do, that will be amazing, but you'd need to be careful not to send BTC when you meant to send LTC.

[Feri22]

No, but I believe developers are working on 'multiwallets'. They probably won't be able to hold all coins, but some of the most popular ones.

I hope so that this will come to see a day light. This will be great if that come in next year perhaps.

 

+1

[hilariousandco]

No, but I believe developers are working on 'multiwallets'. They probably won't be able to hold all coins, but some of the most popular ones.

I hope so that this will come to see a day light. This will be great if that come in next year perhaps.

 

+1

The rate and amount of products that will pop up for bitcoin and cryptocurrencies next year will be incredible. It's going to be exciting witnessing the rise as it gains momentum and mainstream acceptance. I can't wait to see what big companies will start accepting it. Can you imagine if Amazon or ebay or some other major retailer took the plunge?

[soucoi]

What do you think will be the impact of alternative cryptocurrencies? Do you think that sellers will start accepting more and more different kinds of coins, or will they just be used as a way to trade something you can turn into Bitcoin later (which you will then use to make purchases)?

[hilariousandco]

What do you think will be the impact of alternative cryptocurrencies? Do you think that sellers will start accepting more and more different kinds of coins, or will they just be used as a way to trade something you can turn into Bitcoin later (which you will then use to make purchases)?

If people are using 'em and paying good money for 'em, businesses will start taking 'em. There's already a few stores that accept FTC and others cryptos.

[JimmyMcNulty]

No, but I believe developers are working on 'multiwallets'. They probably won't be able to hold all coins, but some of the most popular ones.

I hope so that this will come to see a day light. This will be great if that come in next year perhaps.

 

+1

The rate and amount of products that will pop up for bitcoin and cryptocurrencies next year will be incredible. It's going to be exciting witnessing the rise as it gains momentum and mainstream acceptance. I can't wait to see what big companies will start accepting it. Can you imagine if Amazon or ebay or some other major retailer took the plunge?

Bitcoin has gained so much momentum, and the altcoins are comming along the way. It is hard to believe things are changing so fast.

Mainstream media has shifted its views and now they are no so skeptic.

You can buy Amazon Gift cards at bitcoinBlackFriday.com, and other precious metal shop is selling gold, silver for pay in Bitcoin and with free shipping.

So I would't be surprised to see Amazon accepting bitcoins in less than a year.

[soucoi]

What do you think will be the impact of alternative cryptocurrencies? Do you think that sellers will start accepting more and more different kinds of coins, or will they just be used as a way to trade something you can turn into Bitcoin later (which you will then use to make purchases)?

If people are using 'em and paying good money for 'em, businesses will start taking 'em. There's already a few stores that accept FTC and others cryptos.

Would that have any impact on the value of "official" currencies, or just mean cryptos would rise in value?

[BubaDave]

What do you think will be the impact of alternative cryptocurrencies? Do you think that sellers will start accepting more and more different kinds of coins, or will they just be used as a way to trade something you can turn into Bitcoin later (which you will then use to make purchases)?

If people are using 'em and paying good money for 'em, businesses will start taking 'em. There's already a few stores that accept FTC and others cryptos.

Would that have any impact on the value of "official" currencies, or just mean cryptos would rise in value?

given the market cap not a huge one.... well not yet at least.. last I looked BTC was $13,000,000,000.. not bad but not the kinda scale that gets traded on the so-called "real" markets.. This has to change though..

I think before it gets truely huge (+$100,000/BTC)  we'll see forex types possibly move to their own form of p2p (but centrally controlled because they're silly). Well certainly in the next couple of years I can't see why the banks of the world won't use a similar blockchained protocol to allow them the similar kind of liquidity we're experiencing now... its interesting but all predictions asside things are snowballing faster than I ever expected...

[daviddiaz]

Incredible how LTC has exploded.

Any guess which altcoin could be next? PPC?

I would say PPC and Megacoin.