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Author Topic: Why would i still invest in bitcoin?  (Read 1192 times)
Bigeyeone
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January 02, 2014, 01:01:49 PM
 #21

now lets keep it real ok

why are we mining and promoting all these other altcoins ?

to make bitcoins , no ?  Cool

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faithdealer
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January 02, 2014, 01:04:26 PM
 #22

DOGE is itself such a meme. It proves how much GPU power such memes can whip up almost overnight. So it demonstrates the vulnerability of all GPU mined coins that have as little hash power as it does or less.

-MarkM-


You still haven't explained why Doge's initially viral nature makes it less legitimate than Bitcoin, nor what makes you believe that another coin based on a meme would simply sweep away Dogecoin's audience.
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January 02, 2014, 01:09:31 PM
Last edit: January 02, 2014, 01:19:39 PM by cryptohunter
 #23

Bitcoin is also status, any crypto portfolio without it looks lacking.

There are not that many, every crypto enthusiast will want a few of these more than any other crypto - that will remain forever since it was the original. Therefore demand will always be very high as will price.

Of course most will want a few of all the top alts too so they will be great to hold. The newest copy and paste alts without community will probably die out or stay a near zero value. Doge has a massive following it reminds me of feathercoin only a much larger wave of new miners mined it as their first big alt, so doge will remain strong and perhaps get even stronger. Your first big alt profit coin always stays kind of special.

It is the coin i most regret not mining from the start. But after i noticed it was not just another shitclone (although the design is) and that it had a huge following perhaps the biggest i had seen every in such a short time i put all hash on it and got a few. Doge is another one i think it will be a good idea to hold quite a few for the future. You will not see another coin take off like this until the next big wave of miners hit crypto and i'm not sure what will cause this to happen aside from paying with LTC at the super market. I think every kid that could has persuaded his parents into having a mini crypto farm in their room. I think rows over electricity bills are about to take place anytime now Smiley

Either that or some super revolutionary crypto that comes out and takes the entire community by storm. Until then BTC will rule with other special alts firmly attached.

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January 02, 2014, 01:11:50 PM
 #24

DOGE is itself such a meme. It proves how much GPU power such memes can whip up almost overnight. So it demonstrates the vulnerability of all GPU mined coins that have as little hash power as it does or less.

-MarkM-


You still haven't explained why Doge's initially viral nature makes it less legitimate than Bitcoin, nor what makes you believe that another coin based on a meme would simply sweep away Dogecoin's audience.

He did. Hashing power secures the coin. He said that right off the bat.

The sheer massive volume that DOGE has in such a short time shows how vulnerable many scrypt coins are. ASICs secure a coin. This is in part why Quark is a bit silly.

BunworthBanshee
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January 02, 2014, 01:22:00 PM
 #25

now lets keep it real ok

why are we mining and promoting all these other altcoins ?

to make bitcoins , no ?  Cool

Exactly

There are very few people, that if selling anything of value, tell you "no I wont take bitcoin you can buy that BMW car off me in FTC." Cheesy Cheesy

even the coin developers are just making and mining most of the alts to cash into bitcoin.

faithdealer
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January 02, 2014, 01:23:38 PM
 #26

DOGE is itself such a meme. It proves how much GPU power such memes can whip up almost overnight. So it demonstrates the vulnerability of all GPU mined coins that have as little hash power as it does or less.

-MarkM-


You still haven't explained why Doge's initially viral nature makes it less legitimate than Bitcoin, nor what makes you believe that another coin based on a meme would simply sweep away Dogecoin's audience.

He did. Hashing power secures the coin. He said that right off the bat.

The sheer massive volume that DOGE has in such a short time shows how vulnerable many scrypt coins are. ASICs secure a coin. This is in part why Quark is a bit silly.

Isn't it more that Bitcoin has a difficulty so high that nobody, with ASICs or not, can obtain enough at this point starting from zero to cause any significant changes to the market? Litecoin is much the same, so it's not a problem with Scrypt.

Doge is new. The difficulty is low enough that new people can still mine it and dump it all if they want. It'll become more stable as the difficulty rises and the block rewards reduce.

ASICs destroy coins. Nobody on this forum is willing to mine SHA256 because the only people who profit are the bigshots with hundreds of ASICs. Scrypt is much better for a new coin.
markm
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January 02, 2014, 01:51:20 PM
 #27

DOGE is itself such a meme. It proves how much GPU power such memes can whip up almost overnight. So it demonstrates the vulnerability of all GPU mined coins that have as little hash power as it does or less.

-MarkM-


You still haven't explained why Doge's initially viral nature makes it less legitimate than Bitcoin, nor what makes you believe that another coin based on a meme would simply sweep away Dogecoin's audience.

He did. Hashing power secures the coin. He said that right off the bat.

The sheer massive volume that DOGE has in such a short time shows how vulnerable many scrypt coins are. ASICs secure a coin. This is in part why Quark is a bit silly.

Isn't it more that Bitcoin has a difficulty so high that nobody, with ASICs or not, can obtain enough at this point starting from zero to cause any significant changes to the market? Litecoin is much the same, so it's not a problem with Scrypt.

Doge is new. The difficulty is low enough that new people can still mine it and dump it all if they want. It'll become more stable as the difficulty rises and the block rewards reduce.

ASICs destroy coins. Nobody on this forum is willing to mine SHA256 because the only people who profit are the bigshots with hundreds of ASICs. Scrypt is much better for a new coin.

That is total bullshit. You can make a profit with a frakkin' $13 block-eruptor fergoshsakes, plus if you aren't a lazy/ignorant idiot you can rake in oodles of merged mined coins on the side too.

-MarkM-

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MisO69
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January 02, 2014, 02:02:15 PM
 #28

DOGE is itself such a meme. It proves how much GPU power such memes can whip up almost overnight. So it demonstrates the vulnerability of all GPU mined coins that have as little hash power as it does or less.

-MarkM-


You still haven't explained why Doge's initially viral nature makes it less legitimate than Bitcoin, nor what makes you believe that another coin based on a meme would simply sweep away Dogecoin's audience.

He did. Hashing power secures the coin. He said that right off the bat.

The sheer massive volume that DOGE has in such a short time shows how vulnerable many scrypt coins are. ASICs secure a coin. This is in part why Quark is a bit silly.

Isn't it more that Bitcoin has a difficulty so high that nobody, with ASICs or not, can obtain enough at this point starting from zero to cause any significant changes to the market? Litecoin is much the same, so it's not a problem with Scrypt.

Doge is new. The difficulty is low enough that new people can still mine it and dump it all if they want. It'll become more stable as the difficulty rises and the block rewards reduce.

ASICs destroy coins. Nobody on this forum is willing to mine SHA256 because the only people who profit are the bigshots with hundreds of ASICs. Scrypt is much better for a new coin.

That is total bullshit. You can make a profit with a frakkin' $13 block-eruptor fergoshsakes, plus if you aren't a lazy/ignorant idiot you can rake in oodles of merged mined coins on the side too.

-MarkM-


Its true, ASICS are profitable. Back in September I bought 10 block erupters. I was told that there is no ROI but that didn't matter to me. I was interested in them more for nostalgic reasons. I like to collect old computers and equipment. So I figured I would buy a piece of history. Well, in 30 years it will be.

So anyways, back on topic. I tried to mine BTC with them.. LOL that was funny.. So I pointed them at alt coins. Tigercoin, Zetacoin, Joulecoin, Deutch emarks. All of these are worth something now. I erupters have ROI'ed at least 10x over in 2 months.
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January 02, 2014, 02:06:42 PM
 #29

Its true, ASICS are profitable. Back in September I bought 10 block erupters. I was told that there is no ROI but that didn't matter to me. I was interested in them more for nostalgic reasons. I like to collect old computers and equipment. So I figured I would buy a piece of history. Well, in 30 years it will be.

So anyways, back on topic. I tried to mine BTC with them.. LOL that was funny.. So I pointed them at alt coins. Tigercoin, Zetacoin, Joulecoin, Deutch emarks. All of these are worth something now. I erupters have ROI'ed at least 10x over in 2 months.

I mined bitcoin, namecoin, devcoin, groupcoin, ixcoin, i0coin, coiledcoin and geistgeld all at once, merged.

That is why I bought the eruptors: I was worried that at any moment the extremely easy coins would become difficult due to a public pool picking them up.

Sure enough, mmpool picked I0Coin back up again and at the same time picked up GRouPcoin too, so I had been right to get those eruptors quick to grab some quick before that happened. I am still raking in CoiLedCoin and GeistGeld because luckily the pools have not picked them up yet.

But yeah I did also get to pick up a bunch of different crapcoins that are no way ever going to be secure unless maybe they eventually take up merged mining.

That though was after my larger rigs arrived so I could spare the eruptors for penny-ante stuff because my larger rigs were taking care of the merged mining.

-MarkM-

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