A warning about Alt-Coins

[Splork]

Ive been surfing on and off all day and I still have the newbie lock!

[PauloFiorio]

yep! this newbie lock suc

[Splork]

Still stuck)

[azguard]

some of my friends talking that prime coin is going to be good for Christmas

we will see

[Splork]

Im looking to grab PPC

[azguard]

Im looking to grab PPC

yesterday was window open to earn 1-2 dollars this morning came lower then yesterday morning so watch it carefully

[plej]

i'm looking forward to see what QRK is capable of Since it was mentioned on Keiser report we've seen a massive growth! Hope it's our 3rd big crypto!

[zyfreetip]

It's true that there's a huge saturation of alt coins in the market now, which is devaluting a lot of them.  It's hard to say which coins will gain in value in the future; sometimes you never know.

[PenAndPaper]

It's true that there's a huge saturation of alt coins in the market now, which is devaluting a lot of them.  It's hard to say which coins will gain in value in the future; sometimes you never know.

Devaluation like 40$ LTC, 15$ NMC, 8.5$ PPC? They don't feel so devaluated 

[Talker]

i'm looking forward to see what QRK is capable of Since it was mentioned on Keiser report we've seen a massive growth! Hope it's our 3rd big crypto!

Me too .
Looking very good, got my hopes up.

[sum31uk]

I'm on the Quark bandwagon too.

[Blackmet]

Guys, what's that special about Bitcoin? I cannot clear out for myself - if we could compare right now the hashing power of Bitcoin (using sha256, but it has a huge amount of people maintaining it) and Quarkcoin (using godlike keccak and other cool algos) - what network would be more difficult to be hacked into?

[new2crypto]

Im looking to grab PPC

I am looking into alt coins and was going to buy lots of litecoin but now the price has hiked I am looking at an alternative. despite the fact that I do see litecoin climbing to 10x what it is now even, I would rather buy larger amounts of other coins like ppc or feathercoin.

Personally I think that a bunch of these coins will be around for at least a while, even if the value is just being pushed by the ever increasing btc. There is always more room than just for one. More and more exchanges are looking into the others, like feather coin, and I can see those being worth $10 each within the next 6 months, maybe more.

Maybe it is just a bubble, but I can see things going WAY higher before we see a real collapse because there are still so many more people out there who can adopt crypto in the future. It is only now really making it into the mainstream. I see btc being about $2000 this time next year and the other contenders will still be riding on its coatail, so to speak. IMHO

[jonnyben]

YesI agree, I think BTC is going to push higher and people who cannot afford BTC will invest in othewr lke LTC and thus push the price higher too.

I have recently invested in both. I just hope LTC goes the same way as BTC.

[be4verch33se]

Disagree.

I think Bitcoin has 3 fundamental problems:

1) The 22 million cap.
For good economic reasons you always want a very low level of inflation in a currency.

2) The decline in incentive to mine at the 22 million cap.
The fear is that, especially with the invention of ASICs, the network will become monopolized by a few big players once the rewards become prohibatively small for the "hobbiest".

3) The 10 minute transaction confirmation.
This of course is not acceptable for point of sale transactions.

Several alt-coins have been developed to address these issues. The best of which (imo) is Peercoin. With Peercoin's proof-of-ownership scheme it ensures the currency always grows at a steady 1%. This means the currency both has no cap, and consequently always ensures miners receive at least 1% interest. This alone solves problem 1 and 2 with bitcoin.

Peercoin does have the same 10 minute transaction confirmation as bitcoin but I don't believe is as big of a problem. I find it highly unlikely that any government will use a decentralized virtual currency as the official medium of exchange. I think best case scenario virtual currencies will be used to back, or provide value, to a countries currency in replace of the US dollar. This will isolate direct virtual currency transactions to the online world, in which a 10 minute confirmation is completely acceptable.

Just my 2 cents... and my newbie post

[Cryddit]

It's turning out to that bitcoin miners don't get anywhere near the maximum block size. Altcoins with faster block times may suffer more or less than Bitcoin from this problem depending on a lot of things.

Bitcoin miners, even though allowed to produce million-byte blocks, limit themselves to a quarter of that, leaving transactions unconfirmed, because if blocks get bigger than that they propagate more slowly.  Slower propagation increases the risk that some later-discovered small block will reach more nodes first and therefore the larger block will be orphaned.

This "orphan cost" has been calculated per Kbyte, and it turns out to be less profitable for a miner to produce blocks larger than 250K.

The "orphan cost" is   (increased risk of orphaned blocks) * (mining award per block - (tx fee * non-free transactions in the block)).

If an altcoin has a shorter block time, that will increase the risk of orphaned blocks.  OTOH, if an altcoin has a shorter block time, it will have fewer transactions per block in the first place so a greater percentage of them will be "free" and a smaller percentage will be paid (assuming you have the same proportions of free and reserved-for-paid areas as Bitcoin).  If an alt has a different mining reward that also has its effect.

It's hard to account for all the things that altcoins change, but if an alt's blocks are structured like bitcoin's blocks, a faster block time may not mean a faster confirmation time, because producing blocks large enough to process all tx may turn out to be less profitable than producing blocks small enough to rapidly propagate across the network.

[CrayzHackeR]

bitcoin forever akarr

[azguard]

I have recently invested in both. I just hope LTC goes the same way as BTC.

It will, all alt coin go up w8 till Christmas then it will be chaos.

[Blackmet]

Looks like no one's interested:)
Then I've got another question - what is the TR/Bitcoin.Q - cannot find any adequate info on it.
Antivirus is still scaring me every time telling it is an active virus.
Any suggestions?

[Blackmet]

I have recently invested in both. I just hope LTC goes the same way as BTC.

It will, all alt coin go up w8 till Christmas then it will be chaos.

Why so categorical concerning the chaos?