If bitcoin is about speculation, then it's time to move onto Quark

[bitrebel]

   I was thinking about this recently. Since many people buy bitcoin to speculate on it, once a currency or commodity reaches $1000 or so, even $100, for many people, it's difficult to make much money.
   Buying into bitcoin now, at $800 or so, means in order to double my money, I have wait for bitcoin to go to $1600. In order to make 10 times my money, it needs to go to $8000.
Take Quark, on the other hand, which is at .14 now, and went up 500% in the last week or so. - http://online.wsj.com/article/HUG1747585.html?dsk=y - Wall Street Jouranl covered it. Max Keiser is promoting it, and so is Bill Still, of the money masters.
   For someone to double their money in Quark, it only has to go to .28 which is very likely to happen soon. If someone wants to make 10 times their money, Quark would onl have to go to $1.40. See what I mean? It's much easier to make tons on money speculating on something that has great value to be gained, but a currency or commodity that is top dollar or expensive, is much less likely to produce a decent return.
   People are saying Quark might be listed soon on a Chinese bitcoin exchange and if so, it could mean a serious explosion for Quark.
What do you think?  Imagine if you had gotten into Bitcoin when it was only .14 cents?

Quarks are trading here - https://bter.com/trade/qrk_btc

[byronbb]

Ya but quarks are a pre-mine scam.

[traderCJ]

I can tell you that the trollbox at BTC-E hates Quark.  Competition is a bitch!  The alts generally outperform BTC by a mile in bull markets and collapse during bear markets.  What has worked for me is spreading wealth around all the coins that have unique features.

Regarding pre-mining - if the value of the currency and the infrastructure continues to improve, why would anyone care?

[bitrebel]

Ya but quarks are a pre-mine scam.

Are they? I do not think it is.
 I thought they were just mined in a short period of time. (6 months), and still not done yet.

[bitrebel]

I was wondering what people thought about this specific dilemma.
People will not invest into bitcoin when there are alternatives that can yield more money for much less movement.
When it's $800. Most people have about $8000 to invest on average, I would imagine. That's 10 bitcoins that can only go up so much, so fast.
Just the thought as it occurs to people, that their investment will not go as far, is enough to make people wonder if it's better to go with cheaper alts.
Right?

[byronbb]

Ya but quarks are a pre-mine scam.

Are they? I do not think it is.
 I thought they were just mined in a short period of time. (6 months), and still not done yet.

So says the btc-e troll box.

[beckspace]

http://finance.yahoo.com/news/bitcoin-alternative-quark-qrk-increases-072503725.html

All the signs of a paid article.

It's kind of funny when Bitcoin receives the harshest and unfair criticism in the media and copy-clone obscure cryptocurrencies receive good technical analysis of its protocol. It's just funny.

That pre-mining crap is transformed in a feature, not a bug. Priceless.

[GriTBitS]

scam coins will come and go! litecoin is only other i would buy

[seleme]

I'm all for altcoins profit, there's more to make it there than on BTC but Quark rise is probably the most shill situation ever.

It went up 20 times after some guy I never heard for who actually has some following said he admired it and they made5 folds rise out of it.

[gentlemand]

Considering the attention it's getting, it's worth throwing a hundred dollars or so at it.

Let's face it, many of the people looking into crypto currencies right now probably haven't actually spent any time at all considering the technical merits of a coin. They're just going to throw money at random and hope for the best.

The coin that really will be worth it for a brief period of pure speculation will be one built from the ground up by PR pros.

[CMMPro]

Not sure what all the excitement is about but I just bought $100k worth of dairy futures based on your buy recommendation for Quark.

http://en.wikipedia.org/wiki/Quark_(dairy_product)

Really hope this pays off, I have a lot on the line here. 

[bitrebel]

Considering the attention it's getting, it's worth throwing a hundred dollars or so at it.

Let's face it, many of the people looking into crypto currencies right now probably haven't actually spent any time at all considering the technical merits of a coin. They're just going to throw money at random and hope for the best.

The coin that really will be worth it for a brief period of pure speculation will be one built from the ground up by PR pros.

That's the position I think I may be taking here. With Quark, at least there are some good things about it. It is supposed to be super secure and transaction times are supposed to be very fast. I have not seen another alt coin being pumped so vociferously. I went to the site, and they have 2 forums already and lots of growing support, much more than anything else I have heard of lately. Most coins have very little support.

Also, I see that bitcoin is great. Never knocking it. But if we are talking about speculation here, then any coin at .14 cents with growing support has a better chance o fmaking major returns that bitcoin at this point.

I'm trading in bitcoin right now, and I have 20 on the exchange. But I have to trade tens of thousands of dollars to make a few hundred here or there. And it must swing wide for me to do that. With a cheaper coin, there is so much more room for growth and financial gain, it seems.

[El Dude]

instamine scam coin

[bitrebel]

instamine scam coin

Call it what you want to, but all of these crypto currencies are nothing more than experiments. Bitcoin was just the first, but it will not be the last. Who says that a currency where it's mined in 6 months and a certain highly reduced amount annually thereafter, is not a good idea, but bitcoin is? It's relative, don't you think?

[gentlemand]

I haven't researched it enough to know what its rightful place is.

What I guess is that as Bitcoin's awareness grows, every new wave of people will be dreaming of time machines back to 2009.

They'll look a little closer and see there are other coins that are pennies. These coins will be marketed in increasingly sophisticated and attractive ways.

By the time Bitcoin is truly entrenched there might have been several hundred alternate propositions. The humongous majority will turn to dust. The majority will probably make certain people a very respectable amount of money while they ride it.

Cynical but more than likely to be true.

[roozifus]

I was wondering what people thought about this specific dilemma.
People will not invest into bitcoin when there are alternatives that can yield more money for much less movement.
When it's $800. Most people have about $8000 to invest on average, I would imagine. That's 10 bitcoins that can only go up so much, so fast.
Just the thought as it occurs to people, that their investment will not go as far, is enough to make people wonder if it's better to go with cheaper alts.
Right?

People won't necessarily choose the alts over btc, but they might split their money between them.

And the thing is that when somebody throws half their money into btc and half into an alt that person is buying about 1000x times more of the alt because the alt is priced 1000 times cheaper.

So the effect is that bitcoin might go up 0.001 % and the alt goes up 1%. Say a hundred people do that and bitcoin goes up 0.1%, the alt goes up 100%.
(Technically the market cap of a coin doesn't work exactly like that but it's close enough for our purposes).

People are clearly putting much less than half their money into the alts currently, but more and more money is starting to trickle down (especially with the rise of cryptsy), if cryptsy manage to start accepting USD things will get even more interesting.

[Aristotle]

Quark doesn't look like anything special to me. It's just Bitcoin with a different hashing and distribution function. What would be interesting is if someone created an proof-of-work coin like Quark that completely stopped inflating after 6 months. I'm curious what transaction costs would be when miners only get transaction fees.

[eon89]

Ya but quarks are a pre-mine scam.

Are they? I do not think it is.
 I thought they were just mined in a short period of time. (6 months), and still not done yet.

So says the btc-e troll box.

Are you saying the troll box is saying they are premined or that they aren't? Either way why even read the troll box?

It was publically mined for 6 months and most people ignored the coin. Caused lots of butthurt people to scream premined.

[bitrebel]

It took me about 1 1/2 hours to download the block chain, and it took about 3 minutes or less for a transaction to my wallet.
I'm happy about that . It works very smooth.