Bitcoin, Alt currencies & future market direction

[exchangeis]

Hi Everyone,
I first read about bitcoin back in early 2011 but did not go any further than setting up a wallet so since the currencys rise and coverage in the media over the last 9 months I have decided to again look at bitcoin and other cryptocurrencies.

As a late entry I feel that I have missed the bitcoin boat unless bitcoin rises further, and perhaps that is the case, however I have decided to look at putting some money into some of the Alt Currencies that seem to have potential. Coins like StableCoin, Quark, Earth and GlobalCoin all look to have huge potential. What are people’s opinions on the above coins are there any I should stay clear of?

One other area of interest is virtual mining and services such as CEX.IO is anyone using their service and seeing any positive results, if it what level should I be investing to get a good return.

How about other virtual/cloud mining services what other options are available and do you recommend them?

[Bono]

Hi Everyone,
I first read about bitcoin back in early 2011 but did not go any further than setting up a wallet so since the currencys rise and coverage in the media over the last 9 months I have decided to again look at bitcoin and other cryptocurrencies.

As a late entry I feel that I have missed the bitcoin boat unless bitcoin rises further, and perhaps that is the case, however I have decided to look at putting some money into some of the Alt Currencies that seem to have potential. Coins like StableCoin, Quark, Earth and GlobalCoin all look to have huge potential. What are people’s opinions on the above coins are there any I should stay clear of?

One other area of interest is virtual mining and services such as CEX.IO is anyone using their service and seeing any positive results, if it what level should I be investing to get a good return.

How about other virtual/cloud mining services what other options are available and do you recommend them?

I'd say the best bet for a guy like you is Litecoin. It is the most popular alternate currency and is also pretty stable. Basically a carbon copy of BTC.

In theory, the value is supposed to get nearer and nearer to 1/4th that of a Bitcoin as time goes on, and right now it's way under that, so there is tremendous room for growth.

I'd recommend you eat some up before they go over $35 again. They were 40+ when BTC hit its ATH.

[bitcoinguru42]

my recommendation is to look at http://coinmarketcap.com/ only trade in small increments and diversify! keep ur profits in btc to the moon.

[infinitybo]

@Exchangels  Actually people's opinions on the cryptocurrencies seems confused because there isn't only one on the block.

[thewebdeveloper]

Hard to tell what will happen, it's all relative.

Like if you were watching the chart after the previous top, it looked a lot like a bubble yet the price increased almost 6 fold. If you're looking at it now, it seems like a bubble as well but it may very well go up again. Who knows.

I always dislike seeing people say how obvious a bubble was after the fact. That's easy, anyone can do it. But figuring it out while events are unfolding is a lot harder. Maybe the price will go up, maybe it won't. Either way as I said in another thread, your guess is as good as ours

[o24]

Maaaan tell me about it, back in Juneish 2011 I set up a wallet and did a negligible amount of mining on btcplus (a website miner) which netted me .0015 BTC I recently recovered my account and found out, and I used a bitcoin casino that I had .147 BTC on that I recently went on and wasted should have just pulled it out of there and could have used it for a REALLY good start for day trading between currencies. Well you live and you learn. I also had my grandfathers computer mining back then but he formatted since I got back to it, who knows could have mined a block on there and now that is gonezo...pretty brutal considering what it would have been worth but I doubt it because it was mining using the wallet and it's far from cutting edge, but it was running in the background for months so who knows...anyways. as for the alt currencies and future market direction.

I see a lot of the alts dying out over the next 2 years and bitcoin rising back above $1,000 a piece. There will be new coins on the market that may even replace bitcoin as the top dog probably over the next 5 years or so. A big problem I see with the current model is blockchain size but with some modifications which may include some centralization of sorts that can be fixed. Let's do work with the market now, don't sit on your ass because now is the time to be active. Good luck brethren and hopefully we'll be joking over these days over a fancy surf & turf dinner at a BTC millionaire meeting. :-P






I feel like I should have a wallet for a signature but I don't know which one considering I have 50 coin wallets so I'll just put the top dog even though that likely will result in a lot less action but if the action does happen WOOOOOOHOOOO...lol
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[niteglider]

I'm just getting into this, but it seems like marketing could have a great impact in the near future as crypto money gains traction.

What about goldcoin (GLD)?  It's got glitter appeal.  Some have said that the coin was pre-mined, but I've read that the proceeds are
being used for overhead.

What about something really sexy like fireflycoin (FFC)?  It could really fly as a brand, but I wonder about the dev crew and current
community support.

CipherTrade, an upcoming exchange, lists Namecoin (NMC), Peercoin (PPC), Primecoin (PPC) and Anoncoin (ANC) as being viable along
with Bitcoin and Litecoin.

[honky1492]

I have decided to look at putting some money into some of the Alt Currencies that seem to have potential. Coins like StableCoin, Quark, Earth and GlobalCoin all look to have huge potential. What are people’s opinions on the above coins are there any I should stay clear of?

Ask yourself first if these coins have some significant improvement over Bitcoin to see if there is some possibility for these coins take some of Bitcoin market share in future.

[nodroids]

If you think about it, Litecoin is really cheap right now. The Chinese are the reason we're up here now, not that BTC needs the Chinese now that we have crossed $1000 but it will imo go past $5000 no problem within 2014 with them.

The Chinese actually need BTC or crypto-currency, because they all want their money out of China, and China, officially, makes it difficult to get money out of the country. We in the West aren't too interested for actually moving money internationally although I almost did last week to buy a golf cart from a Mexican here in Mexico (had him talked into it for $2700 USD even though he'd never heard about it, but my wife said no at the last minute - "what if btc moves while we have a lock from loging in from our international ip"... she was right I just caught the last tail of this move at $667 2 days after I bought the golf cart. All the same going to atms with 5 cards over two days made me appreciate the freedom of crypto-currencies, we have serious capital controls even in Western banks).

So yes, BTC has all the infrastructure and a large network, but why if you're actually just freeing your money from the banks, fiat (IMF money) and capital controls, do you pay so much for the protocol of bitcoin to carry your money? Why not go with any other protocol? The protocol is neutral, the value you have to put onto the protocol is a big deal. The protocol is just a carrier of the 'value' you put into it. So at $10,000 a unit, why do you keep yourself married to that 'carrier' protocol (BTC) that has insane valuations?

I hope I'm making sense. Don't get me wrong, over the last year of trading BTC I'm a total convert, I have almost no money in fiat anymore, all new money goes immediately into BTC. I've only dabbled in litecoin, mostly because of the easy %20 on the Fontas (aka Realsolid? I believe it, same style same brilliance of playing to the crowd) pumps and dumps and the fun of all the Chickens flying up and down.

[masyveonk]

So yes, BTC has all the infrastructure and a large network, but why if you're actually just freeing your money from the banks, fiat (IMF money) and capital controls, do you pay so much for the protocol of bitcoin to carry your money? Why not go with any other protocol? The protocol is neutral, the value you have to put onto the protocol is a big deal. The protocol is just a carrier of the 'value' you put into it. So at $10,000 a unit, why do you keep yourself married to that 'carrier' protocol (BTC) that has insane valuations?

Do you realize most crypto coins have different numbers of total coins ever available, and term coin is just arbitrary, Bitcoin lowest unit is Satoshi. You can buy one mBTC for just 0.7 USD, it is 100,000 Satoshi for under one dollar

[Tumn1s]

Big coins this year are sexcoin, bbqcoin and feathercoin. Markets have already been stacked in their favor.

[infinitybo]

@Tumn1s Sure they are already stacked in their favor however you can Sexcoin mining or Bbqcoin mining or even Feathercoin mining by now !!

[niteglider]

One thing to really like about Primecoin XPM, is that the 'hash' work is actually doing something which may end up being useful to science: mining prime numbers.

But couldn't the 'hash' nuts-and-bolts work of BTC be converted later to do useful work... such as database analysis of astronomical data?

Forgive the terrible newbishness, I'm still getting a handle on the entire concept of alt-currency.