Do you own any altcoins? Why? what for?

[zemario]

I own bitcoins, when I first bought them, a year ago, I was thinking of buying LTC too because I had this hope that they were less known and would still go through a higher valuation.
Fast forward an year and I never really bothered

I generaly think of altcoins as copycats/bitcoin wannabes. But a couple of days ago I gave a quick look at LTC price and it had quite a bit jump last november. Could anyone provide a LTC/BTC chart that covers the whole 2013?

Is there any adoption at all of any other coin? I don't think it's very realistic to except to see "Litecoin accepted here" any time soon, let alone other coins.

Do you own any altcoin? Why?

[Francisdoge]

99% of people owning altcoins, premine it, then pump it and hope it goes to a trader, then dump it. The Yukon Gold rush 2.0

The other 1% have noble intentions but mainly fail. Then there is litecoin.

Bitcoin is the only one, you can be the saffest on betting. If it crashes, all the other coins crash along with it it seems.

[El Dude]

yes , litecoin as it's one of the only altcoins that is not a scam.

[uartasic]

Yes, LTC got them at around $8 each.

Alt coins arent so much a copy-cat coin as much as they are a variant of crypto in some cases. Some Alts improve as each variant is created.

Sure BTC is the original one, and maybe there was one before it that never really took off as BTC did, who knows.

Sure with coingen systems that allow a new Alt at the drop of the hat, some people looking at alts might be cynical.

Reality is that people wanting to get into BTC need to start at a lower rung, as for some, the capital outlay is just too much.

some may use Asic erupters, cpu or gpu on their current pcs and laptops and try and mine an Alt like WDC, DGC, NMC, NETetc(very very slow way but you can get there). then voila they can trade them on exchanges for the mighty BTC. or just buy them off ebay and start exchanging.

i have different coins now due to dabbling in very small scale (laptop/asic)mining and the kids getting in to it.

[Dafar]

lol at noobs


yes, I own a lot of LTC... I have no doubt it will cross $100 this year


I own even more NMC just as a high risk high reward investment... it's in the single digits and there's a chance it can boom.  

[Kungfucheez]

Why? Because I can   Pretty sure though that alts started so that even small time miners could have a chance to mine without investing their whole savings into large farms, and then convert into btc. Now though it seems alts are getting to grow out of control. LTC seems now to be the only reliable alt-coin, but, we'll see what happens this year

[Borbolon]

Could anyone provide a LTC/BTC chart that covers the whole 2013?

There you go:

[Raghnar]

I own them to make a profit on them.

[Apraksin]

I own anoncoin because I think it has a future purpose when BTC goes mainstream, also some protoshares just for speculation. In addition I'm investing in emunie because I think it has great potential.

[Fandekasp]

I buy some alt coins because I caught the train a bit late and don't really count on bitcoin to make profit. Hoping that some coins will compete with bitcoin in a few years (eg litecoin, primecoin, earthcoin, emunie)

[Notanon]

I own a fair amount of Peercoins. Mainly because I can see energy consumption becoming an issue for some down the track, therefore the concept of Proof of Stake satisfies that for me, as well as providing an incentive for long-term savings. It is also less prone to fluctuating according to the price of BTC changing, compared to the rest of the 99 million alts out there which crumble when BTC dives sharply. Some people do whinge about the centralised checkpointing, but that was only put in place initially when ASIC attacks were a greater threat to all SHA-256 coins than they are now, and it is planned to be removed in the near future according to the dev, Sunny King.

Plus, the whole "don't put all your eggs in one basket" approach applies here, IMO. Would be silly to just solely stick with BTC as the sole choice of cryptocurrency, as you'd up a creek with a paddle, particularly in light of dramas like the recent ghash.io approaching 50% network hashrate situation and so forth.

[tokyoghetto]

I own a fair amount of Peercoins. Mainly because I can see energy consumption becoming an issue for some down the track, therefore the concept of Proof of Stake satisfies that for me, as well as providing an incentive for long-term savings. It is also less prone to fluctuating according to the price of BTC changing, compared to the rest of the 99 million alts out there which crumble when BTC dives sharply. Some people do whinge about the centralised checkpointing, but that was only put in place initially when ASIC attacks were a greater threat to all SHA-256 coins than they are now, and it is planned to be removed in the near future according to the dev, Sunny King.

Plus, the whole "don't put all your eggs in one basket" approach applies here, IMO. Would be silly to just solely stick with BTC as the sole choice of cryptocurrency, as you'd up a creek with a paddle, particularly in light of dramas like the recent ghash.io approaching 50% network hashrate situation and so forth.

Agreed. This is the reason I am diversifying my alts into PoS coins. PHS and HBN seem like good bets to me.

[cenari0]

yes , litecoin as it's one of the only altcoins that is not a scam.

El Dude please, you are saying to every altcoin it is a scam, but not Litecoin. Maybe because you just hold only Litecoin and want people to pump it more ?

To think that only Litecoin can make it over the 20$ is naive and stupid sorry to say that.

In november litecoin hit $49.

Im living proof because i sold all my litecoins that i bought when they cost $2.50

They are just in a down now - if they cross $30 its going to go high again

[k33k]

I own a fair amount of Peercoins. Mainly because I can see energy consumption becoming an issue for some down the track, therefore the concept of Proof of Stake satisfies that for me, as well as providing an incentive for long-term savings. It is also less prone to fluctuating according to the price of BTC changing, compared to the rest of the 99 million alts out there which crumble when BTC dives sharply. Some people do whinge about the centralised checkpointing, but that was only put in place initially when ASIC attacks were a greater threat to all SHA-256 coins than they are now, and it is planned to be removed in the near future according to the dev, Sunny King.

Plus, the whole "don't put all your eggs in one basket" approach applies here, IMO. Would be silly to just solely stick with BTC as the sole choice of cryptocurrency, as you'd up a creek with a paddle, particularly in light of dramas like the recent ghash.io approaching 50% network hashrate situation and so forth.

+1 to all of this. Peercoin also makes 51% attacks impractical so it's a good choice if the recent ghash.io news spooked you. On top of all that Sunny King knows his shits and puts up weekly updates on here.

[hypostatization]

Ripple.

It is designed to enable any currency to be used for any transaction. A user holding only BTC, LTC, WDC, QRK, or even DOGE will one day be able to purchase from a vendor accepting only USD. All conversion will occur seamlessly. By this virtue, nearly all crypto currencies may have a viable future.

Ripple already supports cash deposits from ZipZap. I believe it will soon begin to make major waves in payments as well.

Ripple Payments have no need to use XRP directly. It is simply an infrastructure component that may also be used as a currency. However, given the massive value of the Ripple system---and the value of XRP within it---I consider XRP itself a strong investment.

Introduction to Ripple for Bitcoiners: https://ripple.com/wiki/Introduction_to_Ripple_for_Bitcoiners

[Crestington]

I own Colossuscoin (100% POS) because it has a good community and cheap (worth 675k) and allows me to help build a new foundation. It might work out or may not but it's fun to dive in and build a foundation from the ground up.

I don't have that much Col, about 375 mil of 320 billion coin. When you do the math and convert the coin float into usd, the foundation is worth 675k usd which I think is cheap considering Dogecoin is worth 10 times as much.

[Dafar]

As OP can clearly see by now hopefully is that everyone will recommend the coins they are invested in. No one knows shit about which one will make you profit. Or else everyone would be rich. Investing in alts is high risk, but you cannot expect a high reward without taking a high risk

[roozifus]

I'm in alts (most of them) because it takes very little to push them up 100%, if you are patient alts are a much better inverstment.

In the long term I also think that bitcoin won't be able to hold on to it's market share.
Bitcoin is dominating at the moment because it's really the only currency you can buy directly.
As the crypto-world matures and new services roll out this is likely to change

Somebody (maybe cryptsy) will add the ability to purchase any crypto directly for cash.

Somebody will come along with a universal payment system that lets you pay in any crypto you like and the seller just receives cash in their account.

Then all cryptos will compete on their merits.

[hvezdasmrti]

Trying to hold any coins with good transaction time. The speed is the biggest limitation of bitcoin, and it will probably make it obsolete in the end of 2014 or in 2015 because with 10 minutes block time you cant satisfy many demanding services like microtransactions, gaming, shopping, etc. Of course, it wont happen if someone will get successfull with any bitcoin modification making it faster (e. g. much faster bitcoin superstructure running over it).

[cenari0]

I own Colossuscoin (100% POS) because it has a good community and cheap (worth 675k) and allows me to help build a new foundation. It might work out or may not but it's fun to dive in and build a foundation from the ground up.

I don't have that much Col, about 375 mil of 320 billion coin. When you do the math and convert the coin float into usd, the foundation is worth 675k usd which I think is cheap considering Dogecoin is worth 10 times as much.

Wow.

Would you be kind to give me some Colossus coin ? o great millionaire

thank you very much o great milloinaire