DogeCoin already bigger than Litecoin

[Wekkel]

Zeta has got my vote. Just be patient.

[1714856566]

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[1714856566]

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[galbros]

This is some nice analysis Free Trade!  I'd often thought about coins per day for each of the different alt coins, but had not thought about the corresponding fiat money flows that would correspond to that.

This is great for one side of thinking about how to value the alternate cryptos, but the other side is what you can DO with the coins.  Right now BTC has by far the best infrastructure and support though it is getting taken over by "professionals."  Doge has build up a solid infrastructure pretty quickly, but that is a lot of fiat and coins it will have to absorb.

Thanks and good luck!

[gambitx]

Zzzack thanks for the explanation. I am three years too late to the party. Now I am trying to get my head around, which one to mine and which one to invest. Everyday, there are bunch of clone coins created and most of them have very short shelf life with no clear vision or purpose. There are few I saw has some potential but I may be totally wrong here since I am a noob. The ones I have been looking at are StableCoin, purely for the security, Sexcoin purely for its vision and the last one is Aliencoin, purely because it is new and it was created by people who created 42 coin. I did mine Dodge in pool but with people mining at minimum 15MH/s I can't even get close to getting anything. Other than mining, I am still doing more work on finding something where I can invest rather than mining, so far I did not find some I can really invest, any ideas or suggestions?

No to Stablecoin and Sexcoin. I have lengthy reasons for both, especially Sexcoin.

I'm not sure on Aliencoin. Don't know much about it. But if it goes like 42 coin, I suggest being one of the very first to invest in it and then sell pretty much immediately when it gets on an exchange. Those guys are better for marketing/branding than actually developing a coin (notice how many projects they're trying to handle rather than focus on a single project).

If you don't believe in cryptos medium/long term, then I suggest looking at OP's data. It indicates that QRK, Zeta, IFC need barely any money daily to maintain their value. Coins like Doge, if they lose interest, even if investors don't sell a single coin, miners will drive down the price unless 1.3 million dollars enter the market.

If you believe in cryptos, invest in the coin that has functional features that you think will separate it from others.

If you want to be safe - go BTC (lowest risk, some potential for growth), choose either LTC or Doge (personally not a big fan of these, but high growth potential), and choose QRK or another CPU-mined coin (personally I think a CPU-mined coin will be the future. QRK is a good medium term investment, still not sure how it will end up long term. But its got community, transactions 12x faster than btc and 8x faster than ltc, and only needs 800 new USD per day to maintain its value).


As for making money quickly and with a high return, follow coin launches and see which one is getting hype based on a meme or a feature or a developer. Buy in fast, and sell fast, because it takes a TON of effort to become a top 10 coin.

sexcoin failed to deliver on their promises

[gambitx]

An interesting question for all coins is -

How much does it cost to maintain the coin at its current price level?

It gives you an idea of how much money is currently flowing into the coin, and resources being used to secure a coin's network. It's easy to work out - you take the current price and multiply it by the number of new coins created each day. I've compiled a list and it currently has some interesting coins at the top, and some interesting coins at the bottom - here it is

Top Coins
Bitcoin -     800x25x6x24 =           2.880M
DogeCoin -    0.0018x500000x60x24 =   1.296M
Litecoin -    20.57x50x24x24 =        0.592M
Mooncoin -    0.00019x1000000x40x24 = 182,400
Peercoin -    4.53x114.44x6x24 =       74,651
ProtoShares - 10.20x16.177x12x24 =     47,521
WorldCoin -   0.29x53x120x24 =        45,792
Primecoin -   2.65x10x60x24 =          38,160
Namecoin -    4.88x50x6x24 =           35,136
Feathercoin - 0.27x200x24x24 =         31,104
Novacoin -    12.72x9.3x6x24 =         17,034
MemoryCoin -  0.20x216x10x24 =         10,368
Megacoin - 0.57 - 25x24x24 =              8,200
DigitalCoin - 0.2510x15x90x24 =         8,100
Devcoin  - 0.00059 - 50000x6x24 =   4240

Bottom 3 'Big' Coins
IFC      - 8.3e-05 - 4096x120x24 = 979
Quark    - 0.074 - 4x120x24 =      852
Zetacoin - 0.02 = 4x120x24 =       230

*Let me know if I've missed any - just looked at the top20 and the ones i'm interested in.

hi freetrade, does this mean memory coin has less potential than zetacoin as per your analysis ? also why do u think memory coin is having a hard time gaining value at the moment. thnx

[koyun]

This is a nice approach but we should not forget that not all mined coins are instantly being sold at exchanges. If people who mine coins hold them, less money will be needed to maintain price level.

[stompix]

I agree with the two posters above ^^

Namecoin is a dying brand. Its just been dropping these last few days. I can think of many better investments.

Personally, I don't see many of these coins lasting. I don't think BTC should be #1, LTC shouldn't be #2.. Doge actually deserves its spot, although I definitely don't see it as having long term potential because its just an LTC with a meme-based culture creating a community. That said, I love Doge. Doge has brought so many to the crypto scene who will soon see the light.


In terms of how to find a coin to invest in: I say use OP's main chart as a guideline to show how quickly each community needs to grow in order to be a reasonable investment. Many of these coins cannot grow that fast, and many of these coins will grow faster.

I also like investing in terms of functionality and I feel like the mining processes for the coins creates unique traits, so I like my portfolio to be split into - ASIC mined, GPU mined, and CPU mined.

Namecoin is the only coin nobody has been able to clone successfully till now.
And it's the only coin with a second purpose.

Probably you don't have a clue what namecoin is about.

[usahero]

Not all new coins are sold every day. So the price to maintain the current price level is much smaller than the one suggested here. Nevertheless it is good data to look at.

[FreeTrade]

hi freetrade, does this mean memory coin has less potential than zetacoin as per your analysis ? also why do u think memory coin is having a hard time gaining value at the moment. thnx

Well, it's not an analysis - it's a table of numbers.

You'd be wrong to think that a low number is necessarily a good thing - if there are low transaction fees in combination with a low block reward, it means that only a small amount of power is being used to secure the network, and the coin is vulnerable to double spends and 51% attacks.

A large number needs context too - you can imagine 3mil/day being invested into Bitcoin, but its difficult to imagine 1mil/day pouring into Dogecoin for the forseeable future.

As for Memorycoin - $10,000/day flowing into the coin is pretty good for a new coin - we've got very high inflation while we get the initial coins issued - expecting the price to rise as the block reward falls - it's a slow burner.

[usahero]

As I said earlier, you dont need 1 million to maintain the price. Also 33%+ of dogecoins that will ever exists are already mined.

[FreeTrade]

This is a nice approach but we should not forget that not all mined coins are instantly being sold at exchanges. If people who mine coins hold them, less money will be needed to maintain price level.

I look at it a different way.

Let's say I mine a coin, say $10 on a VPS and I make $100 worth of DOGE. That's $90 profit.

If I choose to keep that $100 in DOGE, i'm now not a miner, but an investor . . I've invested my $90 profit plus $10 outlay in DOGE.

Not all miners are investors, not all investors are miners.

[DannyDisco]

If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:

http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/

[ferall]

If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:

http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/

Good reading, thanks

[ferall]

Zeta has got my vote. Just be patient.

A lot of people are saying the same, I bought quite a few at a low price, going to hang onto them fore sure.

[FreeTrade]

If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:

http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/

I'll take that as a compliment - although a link and reference would have been nice.

You've only seen half the story though . . . a coin with low maintenance needs to answer how it is going to prevent doublespends/51% attacks.

You're right about CGB - good call on that one.

It looks like you deliberately left QRK out - any reason why?

[DannyDisco]

If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:

http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/

I'll take that as a compliment - although a link and reference would have been nice.

You've only seen half the story though . . . a coin with low maintenance needs to answer how it is going to prevent doublespends/51% attacks.

You're right about CGB - good call on that one.

It looks like you deliberately left QRK out - any reason why?

Thanks. Sorry about that. I was writing this up late last night. I thought I had credited this thread for the idea in the article.... I just added it now. My apologies.

The reason QRK was left out was... again, because it was late, and I got confused with the numbers and rewards since they half so frequently. I chose to simply omit the coin rather than post faulty information. However, today is a new day and I have recalculated it and posted the numbers. It's now on the list.

For the same reason, I did not add Primecoin (the rewards were too complex to calculate, and a few others which I cannot remember). EAC numbers may be skewed as well, I simply took the daily average from the last 24 hours.

[Adrian-x]

Bitcoin=Gold
Litecoin=Silver
Namecoin= Bronze

42coin=Platinum?

[faraway]

Bitcoin=Gold
Litecoin=Silver
Namecoin= Bronze

42coin=Platinum?

These are new coins and may decline. With the exception of Doge the older ones may be more interesting as a long term investement: Franko, Fastcoin, Megacoin..


And 42coin, is a quite well premined coin:10000 blocks (5 full day premined). You can see the issue in the sources:


    int64 nSubsidy = 0.000042 * COIN;
....
    if(nHeight == 1)
    {
       nSubsidy = 0.42 * COIN;
        }


This one is quite useless...

[Zzzack]

If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:

http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/

Read this article! I was actually going to post it in this thread because I thought FreeTrade inspired it. I was surprised QRK was left off too, but its fine seeing your reason.

I based my recent investments off these statistics. We'll see how QRK and Zeta do compared to the coins that need more money to maintain.

I agree with people saying Doge won't be able to maintain 1.3 mill a day, but the block halving is coming soon. Still, it would need to be getting as much money as LTC to maintain price with the halving. I think it will drop 30-40% or so and it could possibly maintain that price. Looks like a really bad medium term investment though

[broken_pixel]

Bigger in volume but not in price.

[faraway]

If anyone is interested, I have compiled a list for 84 alt coins. You can find the analysis here:

http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/

Read this article! I was actually going to post it in this thread because I thought FreeTrade inspired it. I was surprised QRK was left off too, but its fine seeing your reason.

I based my recent investments off these statistics. We'll see how QRK and Zeta do compared to the coins that need more money to maintain.

I agree with people saying Doge won't be able to maintain 1.3 mill a day, but the block halving is coming soon. Still, it would need to be getting as much money as LTC to maintain price with the halving. I think it will drop 30-40% or so and it could possibly maintain that price. Looks like a really bad medium term investment though

This article is quite interesting. However as an investment strategy we must check other issues too. Premined is an important problem, and this is a Quark concern.

An other cryptocurrency that may be worth be presented, and not described in the present article is extremecoin (EXC); The maintenance cost is around $70. This one has the quality to be a good investment too, sadly by now only BTER trades it.