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Author Topic: Alts are so cheap, are you buying or selling?  (Read 2583 times)
Bit_Happy
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March 29, 2014, 11:24:53 PM
 #1

Many older "respected" alts are extremely low now.
Are you following the crowd and selling/waiting or are you buying while prices are low?

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Joshuar
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March 29, 2014, 11:26:12 PM
 #2

Buying/Mining new promising alt coins. Those older alts failed, just look at primecoin etc..

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DemetriusAstroBlack
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March 29, 2014, 11:43:09 PM
 #3

But prime coin was for science and was going to fix water and food shortage world wide.  Magical prime numbers can fix everything.

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March 29, 2014, 11:56:56 PM
 #4

Primecoin is a botnet coin. Of course it gets dumped cheap, its miners don't have any meaningful expenses to deal with in mining it.

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March 29, 2014, 11:59:04 PM
 #5

Sadly, the predictions about one coin being the sole survivor is looking like its coming true. There are still some intrepid investors buying primecoin but I don't know how long they'll continue to. The trend is definitely down and a zero value conclusion is a real possibility. I think even the botnets will eventually give up mining XPM too as its difficulty rises.
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March 30, 2014, 12:02:15 AM
 #6

This was intended as a general question not about your favorite alt coin(s)

Buying/Mining new promising alt coins. Those older alts failed, just look at primecoin etc..

Please define "promising", do you mean hoping it gets on Cryptsy?

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March 30, 2014, 12:06:06 AM
 #7

A promising coin is one that seems like there might be some chance its blockchain can and will actually be secured.

Namecoin for example might have promise if there is any chance that merged mining will become more widespread as margins on mining get tighter. At some point with profit from mining being harder and harder to make, the extra percent or fraction of a percent that one can get by merging could become pretty much the only profit miners are likely to make, at least those who don't have the cheapest electricity on the planet. So maybe merged mined coins, or some of them anyway, might someday have hash rates closer to those of bitcoin. That is more promise than any other coins so far it seems.

Basically some day it might happen that very few bitcoin miners are able to eke out any profit at all except by merging, since only mining bitcoins would not counter the profitability edge that people with slightly cheaper electricity have.

Even then though that would only make up for a rather small difference in electricity cost, unless some of the merged coins also enjoy a price increase relative to bitcoins so they contribute a larger percentage to a merged miner's income.

Thus I am buying I0Coins, DeVCoins, and even - although the question of whether pools will continue to merge them once they are not being minted anymore is a worry - IXCoin, and plan to start also buying NaMeCoin when I have enough bitcoins on the exchange to start into buying that relatively more expensive coin; and am of course merging all eight merged mined coins in my mining.

I would probably also be buying GRouPcoin, CoiLedCoin and GeistGeld if they were on any exchanges. (Though I can of course by dGRP from users of my Open Transactions server.)

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March 30, 2014, 12:13:34 AM
 #8

Buying/Mining new promising alt coins.

thing is there are few promising new alts, everyone is just hoping on the latest pump scam coin then moving to the next, if that was put into the genuine alts that have a purpose then we'd see longterm future in the genuine alts (be it old school alts or newer).

harder to find the none shitcoins in all the mess so everyone just hops on the popular shitcoin and hopes not to be left the bagholder.
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March 30, 2014, 12:16:56 AM
 #9

Merged mining helps because you do not have to abandon the coin(s) you are already mining in order to also help secure more blockchains also at the same time in other words to also mine other coins at the same time.

This jumping from coin to coin is an artifact of the failure of the coins to implement the ability to merged mine as a secondary chain.

If the new coins could be merged mined each one a miner starts mining they can keep on mining at almost no cost "forever" so newer coins coming out would not need to undermine the security of the existing ones by luring miners away from them. They would simply compete on features for a place in the merge, then just keep on chugging along forever like Namecoin, Groupcoin, Devcoin, IXCoin, I0Coin, Coiledcoin and Geistgeld.

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March 30, 2014, 12:19:13 AM
 #10

Many older "respected" alts are extremely low now.
Are you following the crowd and selling/waiting or are you buying while prices are low?

I spent more money buying Goldcoin (GLD) during the past 3 months than at any other time.

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DemetriusAstroBlack
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March 30, 2014, 12:33:38 AM
 #11

Primecoin is a botnet coin. Of course it gets dumped cheap, its miners don't have any meaningful expenses to deal with in mining it.

-MarkM-


I agree with this 100% the CPU coins favor the select few with access to many pcs mining on other peoples electricity and other dishonest mining methods. 

Im selling most of my coins quickly to USD as Id rather have what I can get now guaranteed rather then wait and see.

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March 30, 2014, 01:51:19 AM
 #12

That should see I was buying price, now the price is higher than the then buy price, then I sell, and buy. No confidence in the long-term.
What do you think?

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March 30, 2014, 02:05:14 AM
 #13

Many older "respected" alts are extremely low now.
Are you following the crowd and selling/waiting or are you buying while prices are low?

I spent more money buying Goldcoin (GLD) during the past 3 months than at any other time.

then you haven't bought much  Roll Eyes and if you have then what u r really saying (as dev) is it should be worth even less  Shocked
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March 30, 2014, 02:10:43 AM
 #14

A promising coin is one that seems like there might be some chance its blockchain can and will actually be secured.

Namecoin for example might have promise if there is any chance that merged mining will become more widespread as margins on mining get tighter. At some point with profit from mining being harder and harder to make, the extra percent or fraction of a percent that one can get by merging could become pretty much the only profit miners are likely to make, at least those who don't have the cheapest electricity on the planet. So maybe merged mined coins, or some of them anyway, might someday have hash rates closer to those of bitcoin. That is more promise than any other coins so far it seems.

Basically some day it might happen that very few bitcoin miners are able to eke out any profit at all except by merging, since only mining bitcoins would not counter the profitability edge that people with slightly cheaper electricity have.

Even then though that would only make up for a rather small difference in electricity cost, unless some of the merged coins also enjoy a price increase relative to bitcoins so they contribute a larger percentage to a merged miner's income.

Thus I am buying I0Coins, DeVCoins, and even - although the question of whether pools will continue to merge them once they are not being minted anymore is a worry - IXCoin, and plan to start also buying NaMeCoin when I have enough bitcoins on the exchange to start into buying that relatively more expensive coin; and am of course merging all eight merged mined coins in my mining.

I would probably also be buying GRouPcoin, CoiLedCoin and GeistGeld if they were on any exchanges. (Though I can of course by dGRP from users of my Open Transactions server.)

-MarkM-

What do you think of proof of stake coins and their methodology in securing their blockchains?


     
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March 30, 2014, 02:19:09 AM
 #15

then you haven't bought much  Roll Eyes and if you have then what u r really saying (as dev) is it should be worth even less  Shocked

No. I continue to buy Goldcoin because I believe it will become a highly successful cryptocurrency.

I'm just sticking with my original plan to continue averaging into the currency over time.




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March 30, 2014, 02:25:46 AM
 #16

What do you think of proof of stake coins and their methodology in securing their blockchains?

The last I heard, no one had actually implemented any of the methods of implementing proof of stake that seemed at least theoretically to be potentially able to be secure.

That is why ppcoin for example is a hybrid; proof of stake is not secure, and even being hybrid it still apparently needs a centralised potential-attacker who gets to control which branch of the chain to promote as being the "real" one. (Some kind of central bank or whatnot that gets to create checkpoints that the clients blindly accept as correct, or something like that? Much like realsolid's solidcoin except its maybe not a bunch of special nodes doing it but just one guy/company?)

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March 30, 2014, 02:35:07 AM
 #17

...
Im selling most of my coins quickly to USD as Id rather have what I can get now guaranteed rather then wait and see.

Selling near the bottom when things look "hopeless" (and buying high when things look great), isn't that why most traders lose money?

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March 30, 2014, 04:57:14 AM
 #18

...
Im selling most of my coins quickly to USD as Id rather have what I can get now guaranteed rather then wait and see.

Selling near the bottom when things look "hopeless" (and buying high when things look great), isn't that why most traders lose money?

I net a weekly profit and choose not to speculate on the market much longer then that.  But yes buy low sell high.  I feel the market is not at it's lowest, that seems to be your speculation not mine.   So wouldn't I sell.....and yes I know that is still speculating on the market longer then a week so fuck myself.

PS I never buy, I mine.

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March 30, 2014, 05:05:25 AM
 #19

Hopefully none. BTC has the SHA-256 realm and just let it remain that way; other coins can be made to be merged-mined as it should be for something with strong infrastructure.

Anyhow, yes you did. I guess what I'm trying to say is that even the merged-mined coins like NMC/DEV just doesn't seem worth getting at the moment since BTC is still "struggling." I'd still rather get more BTC while it is in its dip, rather than divesting what I have in BTC to get alts. Don't get me wrong, I think that the merge-mined coins will go up (and in fact will likely gain significantly more value than coins in the scrypt realm), but I'd rather see the correlative TA first before taking that risk. I guess I'm just a smidge risk-adverse at the moment.

Heh, I guess in response to the thread question, I'm holding; but if I had to choose between sell or buy, I'd buy.

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March 30, 2014, 05:18:26 AM
 #20

I just saw where the USD markets are listed on Cryptsy. That should help some more cash flow into the alts!  Smiley

https://www.cryptsy.com/markets/view/2

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