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Author Topic: When Bitcoin moons... alt-coins will die.  (Read 3041 times)
picolo
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March 05, 2015, 08:38:53 PM
 #41

Well I think personally I am going to get into as many viable altcoins as possible. Missed the whole crypto-currency train first time round so I am trying to increase my holdings of btc, but also want to get into some altcoins too. I guess with so many out there its hard to know which ones. takes a lot of time to read/research all these coins esp when you have a slave-wage job in the 'real world' lol

It is hard to know if they are viable or not Wink
Most altcoins will fail but I don't fully agree with OP in the sense that I think some altcoins may co-exist with Bitcoins in the future because they will have an active community and a few small different features that suit some people's needs or taste.

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March 06, 2015, 01:57:25 AM
 #42

There are several factors favorable to altcoins to consider:

1.  Altcoins as Sharedrop Targets.  Each "altcoin" blockchain represents a "mailing list" to members of a specific demographic.  For example, dog lovers or Mars colonizers or permaculture enthusiasts.  So if you are starting up a new blockchain business, you can custom tailor a fair distribution by initializing your genesis block with a "share drop" to holders of some mix of the demographics you want to have for your holders.   I see one destiny of "altcoins" as building up desirable demographic mailing lists for "sharedrops".  Why does every "fair distribution" have to be handed to the mining techno-geek demographic?  Roll your own demographic from a mix of fairly distributed altcoins!  People who have purchased specific altcoins have demonstrated their worthiness to get your shares more that those who just want to mine and dump them.    

2.  Altcoins that Don't Compromise.  Let's face it.  To get big, the leading coins need to sometimes make unsavory compromises in order to comply with regulatory constraints and to get established institutions to "play nice" with them.  This will only get worse.  Every time such a compromise is made, it opens the door for a clone that didn't compromise.

3.  Altcoins with Business Models.  Most of the exciting stuff lies with block chains that aren't even really trying to be currencies.  They are trying to be profitable businesses offering services without counter party risk.  These are the "Bitcoin 2.0" initiatives.  You evaluate them the way you are supposed to evaluate stock in a company.  Are they profitable?  Do they have a good development team?  Are they the best in their class? What is the size of their potential market?  What is their growth potential?

All this means that "altcoin investors" need to take a whole lot more into account if they want to profit.  Gone are the days of picking the coin with the clever meme or name.  In the future successful crypto investors are the ones that do their homework!  Smiley

  

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March 06, 2015, 08:04:29 AM
 #43

About point 1: I don't understand the insight & conclusion and can't see the consequence & implied recommendations. Please explain/help.
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March 06, 2015, 10:09:45 AM
 #44

Many Altcoins will die and some won't die and here's why:

1- The Altcoin market cap is greater than Bitcoin. #CoinMarketCap
2- Altcoins are typically a lot faster than Bitcoin... by now, most Bitcoin users have switched over to a faster coin.
3- Some Altcoins devs treat their coin like a job #DigiByte
4- Some coins devs have reached some hefty investment dollars.
5- Bitcoin is becoming an alt wanna-be and some alts have better wallets.

The point of alts is to pick up the slack that Bitcoin couldn't tighten.  Everyone wants Bitcoin to be more than what it is when it was never meant to be more than what it is.  If anything, if Bitcoin keeps on doing whatever it wants to the code, the Bitcoin will die long before alts.  Again, Bitcoin was the first popular Crypto and to this day is still the most popular.  Just like SnowJet used to make the best snowmobiles 70 years ago, they're no longer in business today because other companies had more drive to success.

The coins that will die:

1- Uses a generic coin creation program #XPY
2- Uses the same spiel as Bitcoin (distributed, PoW) #BlackCatCoin
3- Devs have dropped the ball (95% of the time) or don't update #TEK
4- Have no direction, a coin created for the sake of creating one #FireFlyCoin
5- Have no marketing budget - Miners are not marketers. #Crypto Mining

For everything else, there's CoinWarz.

I recently sold all my last Bitcoin to buy in DGB at a low price.  I guarantee you DGB has a much greater chance of doubling in price (50 sat now) than Bitcoin who's pretty much a rich man's game now.  You want to strike it rich like the mining forefathers in any Gold Rush in history, your only chance now is via Alts because they typically follow Bitcoin's rise and fall but still have their own price independence.

Mining is a maverick's game, anyone who only mines Bitcoin's a damn fool.  I've said it once and will say it again, you own the hardware, you can mine wherever you want, you have the opportunity to mine millions of full AltCoin that have a greater wider appeal and use.  Stock up on easy to get coins whilst you can otherwise you'll become one of those trolls who do nothing but whine about having had the opportunity and not taking it.  In the end, you will only be able to blame yourself. 

Lots of experienced miners and traders here telling you Alts are often better than Bitcoin, take the hint.

When Bitcoin moons, AltCoin will move up along.  When BTC went over $1,000, there were not as close to as many quality AltCoins as we got today.  Some coins ride the Bitcoin wave, some seem to have their own market.  I personally mine DGB because I believe it will replace PayPal... and they got a $250,000 investment a few months ago too.  Lots more reasons I could sit here for days but those are my research dollars at work.

It's thing like that, you want to do your research... EXTENSIVELY!!  Not just gather other people's opinion, other miners don't have your best interest at heart.  For every coin I mined, I spent a few days researching their pros and cons and no coin I mined lost in value since starting mining it, whatever the coin is.

Just my wooden nickel...

-I'd rather be mining
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March 06, 2015, 11:31:16 AM
 #45


1- The Altcoin market cap is greater than Bitcoin. #CoinMarketCap



Uh no..... its not #CoinMarkeCap

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March 06, 2015, 05:09:39 PM
 #46


1- The Altcoin market cap is greater than Bitcoin. #CoinMarketCap


your right but trhis doesnt change a thing in market price for any coin only with good support and community background price can be change and for market demand



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March 07, 2015, 04:33:41 AM
 #47

About point 1: I don't understand the insight & conclusion and can't see the consequence & implied recommendations. Please explain/help.


https://bitsharestalk.org/index.php?topic=14019.msg182306#msg182306
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