A first post but also a question...

[jbrock11]

What are the newbie's views on alt coins? I've done a little research and from what I've read, it's a lot of pump and dump that will not survive in the end. Most think Bitcoin itself will dominate the cryptocurrency world with Litecoin maybe being able to capture 1/4-1/50 of Bitcoin's market cap. I kind of agree but the way I see it, a lot of the alt coins are riding Bitcoin's coat tales right now. I'd be a fool not to get on some of these other coins early, so that's basically why I'm here.

[FalconFly]

When I came here not long ago, the only things I knew were BTC and LTC.

After reading a few hours, I was literally shocked about the amount of "nonsense-coins" and clones that already existed.

I think that mining a few of these early on is okay, for as long as you know how to get rid of/convert them at the right time (you already know they're pump&dump clones, some apparently just to take some easy cash from gullible EBay buyers and the likes).
IMHO one SHA256 and one scrypt coin is all the world needs, with some already accepted alternatives following in their shadows (a P2P coin for example IMHO has a structural benefit and a good reason to exist).

But with so many coins (that at launch I thought were an ironic joke about all those altcoins, like DogeCoin) actually making it into exchanges within days.... who knows. It's a crazy world, and where's demand there will be supply.

In the long run however, I fear that many of those altcoins will disappear (some with a bang, some silently), each damaging the reputation of the remaining coins.

[jbrock11]

I've already invested pretty heavily into BTC and to LTC but was also thinking about investing a decent amount into Quark and Ripple. I think they both have positive things about them that could cause fairly high adoption rates ( for alt coins ) and the price is extremely low right now.

[jonanon]

Perhaps Quark would be worthwhile but I would avoid Ripple - just read what people are saying about it!

[jbrock11]

I've probably heard most of it but the fact that it was seeded by Google, is marketable and has a good team behind it makes me think it could definitely go a lot higher than it is. Although I definitely think having so much XRP in circulation is a detriment for them.

[Bono]

I think altcoins are here to stay.


If (and when) BTC reaches $10,000 or even $100,000 can you imagine how much a transaction fee of 0.001 would cost you?

Instead of using BTC/LTC to buy a cup of coffee or a stick of gum, you'd use DOGE, or whichever successful altcoin fills that need for a smaller denomination.

BTC will probably be THE gold standard, with altcoins filling places that need it.

BTC -> LTC -> DOGE

Dollars -> Quarters -> Pennies

[jbrock11]

That's an interesting way of looking at it. Although I've kinda thought their relationship will be like different credit card companies. Each offering different perks but only a handful will be universally accepted.


Accepted most places -

BTC = Visa

LTC = MasterCard


Accepted some places -

American Express = Peercoin?

Discover  = ?

Etc = ?

[Bono]

That's an interesting way of looking at it. Although I've kinda thought their relationship will be like different credit card companies. Each offering different perks but only a handful will be universally accepted.

Accepted most places -

BTC = Visa

LTC = MasterCard

I think it'll wind up being some combination of our views.

There will be a handful of widely accepted currencies, but there will still have to be ways to offset the huge transaction fees in place for the big boys. I love DOGE so much for this reason... it's kinda gimmicky but it's so marketable, and they're so cheap walking around with a wallet of DOGE would be just like walking around with a wad of $1 bills.

[edutBTC]

Is it true ? how to trade altcoins ?

[jbrock11]

I think it'll wind up being some combination of our views.

There will be a handful of widely accepted currencies, but there will still have to be ways to offset the huge transaction fees in place for the big boys. I love DOGE so much for this reason... it's kinda gimmicky but it's so marketable, and they're so cheap walking around with a wallet of DOGE would be just like walking around with a wad of $1 bills.

Not really sold on DOGE at all. Seems like a joke that turned into a pump and dump. I agree that it's marketable right now but will it be a few years down the road? I doubt it. I think there are much better alt coins to fulfill that dollar roll you're talking about. Namely an alt like Ripple. Due to it's large supply, it's almost guaranteed never to get over 1-2 dollars ( possibly more if BTC hits a 1 trillion dollar market cap ).

[cerleo]

There are a lot of alt coins and the situation is hard to predict.We will see what will happen but it's hard to say.

[sarlangg]

Many are pump and dumps surely.  It's more about marketing with new alt-cryptos.  Dogecoin took off since it took advantage of a popular meme.

I consider all the alt-cryptos that make it to BTC-e the "established" alt-cryptos that are safe to trade.

[edutBTC]

I gave my altcoins instead it's true

[eDigger]

That's an interesting way of looking at it. Although I've kinda thought their relationship will be like different credit card companies. Each offering different perks but only a handful will be universally accepted.


Accepted most places -

BTC = Visa

LTC = MasterCard


Accepted some places -

American Express = Peercoin?

Discover  = ?

Etc = ?

Discover  = PrimeCoin