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Alternatives to bitcoin
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JJ Roberts Offline
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Post: #1
Alternatives to bitcoin
Any good articles / resources that sum up bitcoin's competitors?
02-11-2014 08:10 PM
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Brisey Offline
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Post: #2
RE: Alternatives to bitcoin
CoinWarz show a big list of cryptocurrencies, their mining difficulty, number of coins out there and the daily profit.
Grabbed this from the http://www.rooshvforum.com/thread-32951.html thread.
(This post was last modified: 02-12-2014 02:08 AM by Brisey.)
02-12-2014 02:04 AM
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lowbudgetballer Offline
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RE: Alternatives to bitcoin
I've been wondering about the feasibility of this myself--ie, getting on the groundfloor of every cryptocurrency while it is easy to mine. Nothing lost, but if one hits big, it's easy street.

lowbudgetballer

(02-12-2014 02:04 AM)Brisey Wrote:  CoinWarz show a big list of cryptocurrencies, their mining difficulty, number of coins out there and the daily profit.
Grabbed this from the http://www.rooshvforum.com/thread-32951.html thread.

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02-20-2014 12:05 AM
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samsamsam Offline
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RE: Alternatives to bitcoin
Not sure where to park this question. Anyone have any knowledge of onecoin?

Seems ponzi like.

Well that is what I have been reading or like MM that thing that happened in Russia.

Thanks.

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04-21-2016 09:29 PM
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Cortés Offline
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RE: Alternatives to bitcoin
I bought into Ethereum coin while it was worth .0045 bitcoins per unit and sold it when it went up to .246, I haven't checked the prices recently because I think its boom is over. Its plateaued around .180 and it hasnt moved much for a while so I wouldnt invest in it. Most crypto currencies that are "up and coming" hardly ever last as long as bitcoin. Occasionally, like if you read the 'Trollbox' on the poloniex.com exchange you will see some talk if a coin is expected to perform well, however most of the time forums/chats about "up and coming" coins are very mixed. Some people hold an optimistic view over a coins future while others don't. I personally subscribe to the belief that Bitcoin is a rare case where it is stable yet high volume enough to be a base for transactions and regulations like other real, tangible currencies.

TL;DR Most crypto currencies aren't worth investing in unless you put in a lot of money and play the short term game.

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04-21-2016 09:44 PM
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Satoshi Offline
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RE: Alternatives to bitcoin
04-22-2016 12:57 AM
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Kid Twist Offline
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RE: Alternatives to bitcoin
This may be elsewhere, but do most on the board think that silver is the far more likely underground currency substitute because of the overwhelming value of gold and it's difficulty to break down into manageable transaction segments/values?

Thanks
04-22-2016 09:11 AM
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JayJuanGee Offline
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RE: Alternatives to bitcoin
(04-22-2016 09:11 AM)Kid Twist Wrote:  This may be elsewhere, but do most on the board think that silver is the far more likely underground currency substitute because of the overwhelming value of gold and it's difficulty to break down into manageable transaction segments/values?

Thanks

Conceptually, I think that you are correct that various precious metals would be potential competitors to bitcoin, yet somehow I got the impression that this thread had been an attempt at exploring a variety of other crypto currency options.

At the time that this thread was created there was about 100 other crypto currencies, and currently, there are more than 600.

Most of the major players (and not so major players) are listed at Coinmarketcap.

http://coinmarketcap.com/all/views/all/
05-17-2016 08:36 PM
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lowbudgetballer Offline
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RE: Alternatives to bitcoin
Does anyone know why Coinoindex crashed so hard yesterday?

'baller

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05-30-2016 10:59 PM
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spacetime Offline
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RE: Alternatives to bitcoin
At this moment there are more than 600 different cryptocurrencies, most of them unused and pretty useless.

Their power is obvious for the creator of cryptocurrencies: a cryptocurrency is basically millions of dollars for the creators, out of nothing (thinair).
06-03-2016 10:00 AM
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JayJuanGee Offline
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RE: Alternatives to bitcoin
(05-30-2016 10:59 PM)lowbudgetballer Wrote:  Does anyone know why Coinoindex crashed so hard yesterday?

'baller



Looks like a pretty interesting website. There are so many different useful websites in the cryptospace, and I don't recall coming across Coinoindex prior to seeing it in your post.

Which coins do you monitor or trade?

Oh by the way, in an attempt to kind of address the substance of your post, I frequently find all kinds of temporary failures in various crypto websites that I use, and it is good to have a variety of back-ups, especially when it comes time to attempt to time your trades (if that is what you are doing).

Of course, if the downtime comes directly from the site on which you want to trade, you may be temporarily out of commission (which also seems to happen from time to time in the crypto space), so sometimes you gotta have your eggs in a few baskets in order to allow you some power even when some sites are compromised for periods of time.
07-17-2016 04:45 PM
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JayJuanGee Offline
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RE: Alternatives to bitcoin
(06-03-2016 10:00 AM)spacetime Wrote:  At this moment there are more than 600 different cryptocurrencies, most of them unused and pretty useless.

Their power is obvious for the creator of cryptocurrencies: a cryptocurrency is basically millions of dollars for the creators, out of nothing (thinair).

Even though spacetime had been banned since he had made his post, he makes some valid points regarding the large number of cryptocurrencies that are currently in existence - and probably over 1,000 would be an even more accurate assessment. Even though there are over 600 listed on the coinmarketcap site, there are some cryptos that are not listed on coinmarket cap, whether they are worth discussing may be questionable, and sometimes even coins will disappear from coinmarket cap for a short period of time and then reappear later. reason? who knows?

As spacetime mentions, there has certainly been a large number and kinds of pump and dump phenomenons when it comes to various cryptos, and whether the creator or the group of creators realize the extent of their scamming or pumping can have a considerable amount of variation - because surely some of the coins have some potential to add value and innovation beyond the mere pump/dump value.

I kind of have been forced to learn about several of the various alternative to bitcoin crypto's merely because of my following bitcoin, and various bitcoin alternatives are frequently mentioned and/or discussed in bitcoin circles... and there can be some extreme profits (or losses) in getting in or out of the cryptos at the right time, could go on and on about various crypto's du jour that have been up and down.

A large majority of the coins in the top 20 of coinmarket cap have had pump/dump moments and some have received more successful media attention than others, and surely there are some famous pump and dumps that fall outside of the top 20.
07-17-2016 05:00 PM
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JayJuanGee Offline
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RE: Alternatives to bitcoin
Anyone following the Ethereum fork situation?

Now there are two Ethereums ETH (with fork) and ETC (classic without fork).

The only difference with ETC is that it is against the fork that ETH had created that disallows the DAO attacker from cashing out, so the DAO attacker will be able to cash out on ETC, but not on ETH. As I type, ETH is trading at about $12.70 and ETC is trading at about $1.50.

My understanding is that if you owned ETH prior to the fork, then you own both ETH and ETC (like a stock split), but if you buy after the fork, then you buy either ETH or ETC (not both). It is a bit confusing.

ETC holders who are against ETC could attempt to dump all of their ETC.. but if there is a demand for ETC, then they may not be able to stop ETC from closing the price gap and catching up to ETH and even possibly surpassing ETH. One of the ideological components of ETC is to assert that ETH should not be able to hardfork so easily as it had done, and they are suggesting that ETC is not going to allow hardforks in the future (which is what they thought was part of the original intent in ethereum (kind of comparing it to bitcoin in that regard).

Going to be an interesting few months in front of us, no?
07-28-2016 02:49 AM
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JayJuanGee Offline
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RE: Alternatives to bitcoin
(07-28-2016 02:49 AM)JayJuanGee Wrote:  Anyone following the Ethereum fork situation?

Now there are two Ethereums ETH (with fork) and ETC (classic without fork).

The only difference with ETC is that it is against the fork that ETH had created that disallows the DAO attacker from cashing out, so the DAO attacker will be able to cash out on ETC, but not on ETH. As I type, ETH is trading at about $12.70 and ETC is trading at about $1.50.

My understanding is that if you owned ETH prior to the fork, then you own both ETH and ETC (like a stock split), but if you buy after the fork, then you buy either ETH or ETC (not both). It is a bit confusing.

ETC holders who are against ETC could attempt to dump all of their ETC.. but if there is a demand for ETC, then they may not be able to stop ETC from closing the price gap and catching up to ETH and even possibly surpassing ETH. One of the ideological components of ETC is to assert that ETH should not be able to hardfork so easily as it had done, and they are suggesting that ETC is not going to allow hardforks in the future (which is what they thought was part of the original intent in ethereum (kind of comparing it to bitcoin in that regard).

Going to be an interesting few months in front of us, no?




There are quite a bit of ongoing developments around the issue that I described above in my earlier post.

Here's one news article that describes some of the current considerations, including possibilities for another ETH hardfork...


https://steemit.com/cryptocurrency/@thec...nd-for-eth
07-28-2016 12:27 PM
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dasher Offline
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RE: Alternatives to bitcoin
I had 137ish ETH before the fork, so now I have 137 ETH and 137 ETC. I split them up, so I shouldn't be vulnerable to the replay attack thing but apart from that I can't say I've been doing too much with it.

I check the price and the reddit maybe once or twice a day to see if there if there are any disasters on the horizon, but it mostly seems ok atm.

It's hard to tell if the doom and gloom surrounding ETC currently is about the ETH people not wanting closely related competition or what.

That said, if the price spikes up again I'm definitely getting rid of my ETC.
07-29-2016 04:15 AM
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RE: Alternatives to bitcoin
(07-29-2016 04:15 AM)dasher Wrote:  I had 137ish ETH before the fork, so now I have 137 ETH and 137 ETC. I split them up, so I shouldn't be vulnerable to the replay attack thing but apart from that I can't say I've been doing too much with it.

Thanks for confirming how the fork seems to have affected your holdings specifically. Sometimes, it is much more difficult to understand how something is playing out if you are not experiencing it yourself. I did not own any ETH before the fork, but a couple of days ago, I bought some ETC...





(07-29-2016 04:15 AM)dasher Wrote:  I check the price and the reddit maybe once or twice a day to see if there if there are any disasters on the horizon, but it mostly seems ok atm.

I think that with any volatile asset, we need to be careful not to invest too much because the price of such assets can go quickly in one direction or another, and on a personal level it tends to be good to have some tentative plans... No one else needs to agree with your plan, but just so you have some outline in your head regarding what you are going to do at what price point and under what kinds of events (developments). Of course, if you are holding the keys or passwords to your accounts, then you have the discretion to tweak or to completely abandon your plan at any time that you deem necessary, but still better to outline some general ideas about when you are going to buy or sell and under what conditions.. and even if you get surprised by something unexpected, you can kind of already have some parameters in your head... and try to come to a quicker and more suitable solution than if you had no plan at all.




(07-29-2016 04:15 AM)dasher Wrote:  It's hard to tell if the doom and gloom surrounding ETC currently is about the ETH people not wanting closely related competition or what.

People are going to put different spins on what this is all about and why it happened and why it is continuing and to project whether it is going to last. There is going to be valid information and there is going to be misinformed and disinformation, so in the end, if you are attempting to follow the matter, you gotta attempt to read through some of the bullshit.

In essence, it seems likely that the ETH camp had bet too much on the fact that they were going to be able to achieve a hardfork and everyone would jump on board to that decision. My understanding is that they only achieved about 80% agreement, but anyhow the group voting is still a select group too, yet in the end, they seemed to have miscalculated the ramifications, and the fork caused a market for the other coin (ETC). The ETC group seemed to have been a bit better organized than the ETH group had expected, and therefore, they were able to get a following for their version, which is to keep everything in ETH the same as it had been prior to the fork, and a strict emphasis that they are not going to be mutuable like ETH had done.

The ETC guys came out with a decent and maybe even reasonable explanation of their motives, which is shown in the below link.

https://ethereumclassic.github.io/


(07-29-2016 04:15 AM)dasher Wrote:  That said, if the price spikes up again I'm definitely getting rid of my ETC.


I personally think that both ETH and ETC are shitty coins for the long term, but it certainly is not a sure thing that ETH is going to win out on this quagmire in terms of price appreciation (today's price versus future price), nor if some events could cause pairing or prices or even that ETC surpasses ETH.. or like you mentioned, it is also possible that ETC could die and ETH continues on.
07-29-2016 11:16 AM
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JayJuanGee Offline
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RE: Alternatives to bitcoin
Here's an article from today providing some description and consideration of the role of the DAO attacker.

https://steemit.com/steemit/@thecryptofi...-white-hat

Sure, this is the attacker that sparked the Ethereum fork situation, and one of the problems with ETH, versus ETC, remains that employing the hardfork caused quite a bit of attention to the potential for centralization with Ethereum in that a fairly small committee (that may have not quite thought the matter through well enough in terms of long term ramifications) decided to treat ethereum like as if they were central bankers... so in that regard, ETC is an attempt to keep Ethereum more like bitcoin in terms of decentralization and immutability... which is likely going to continue to inspire a certain level of value that potentially could slowly migrate from ETH to ETC.. which may little by little cause the prices to migrate towards each other...

My understanding is that there are at least a couple of immediate measures of ETH versus ETC and that is price and hash power, and at the moment ETC has about 12% of the hashpower and the price of ETH - which is nail biting and something that will need to be monitored by those interested in this space.
07-29-2016 02:50 PM
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innocent21 Offline
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RE: Alternatives to bitcoin
You might find useful Cryptonator which provides wallets for these currencies.

Bitcoin BTC
Blackcoin BLK
Dash DASH
Dogecoin DOGE
Emercoin EMC
Litecoin LTC
Paycoin XPY
Peercoin PPC
Primecoin XPM
Reddcoin RDD
Vertcoin VTC
07-29-2016 02:54 PM
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JayJuanGee Offline
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RE: Alternatives to bitcoin
(07-29-2016 02:54 PM)innocent21 Wrote:  You might find useful Cryptonator which provides wallets for these currencies.

Bitcoin BTC
Blackcoin BLK
Dash DASH
Dogecoin DOGE
Emercoin EMC
Litecoin LTC
Paycoin XPY
Peercoin PPC
Primecoin XPM
Reddcoin RDD
Vertcoin VTC

How long have you been using it, and which of the cryptos have you actually stored on it?

Do you have any other wallets that you have tried? What about exchanges, do you keep any cryptos on exchanges, otherwise from where do you get your crypto?
07-29-2016 03:14 PM
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RE: Alternatives to bitcoin
(07-29-2016 03:14 PM)JayJuanGee Wrote:  How long have you been using it, and which of the cryptos have you actually stored on it?

Do you have any other wallets that you have tried? What about exchanges, do you keep any cryptos on exchanges, otherwise from where do you get your crypto?

I don't have any cryptocurrency. Blockchain.info is good but it's not anonymous. A staff member doxxed one of their members bitcoin wallets over a dispute, so the true way to be anonymous with crptocurrency is to store the wallet on your computer and backup your wallet.

Where you get your bitcoins or crptocurrency depends on what country you come from.
07-29-2016 04:37 PM
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JayJuanGee Offline
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RE: Alternatives to bitcoin
(07-29-2016 04:37 PM)innocent21 Wrote:  
(07-29-2016 03:14 PM)JayJuanGee Wrote:  How long have you been using it, and which of the cryptos have you actually stored on it?

Do you have any other wallets that you have tried? What about exchanges, do you keep any cryptos on exchanges, otherwise from where do you get your crypto?

I don't have any cryptocurrency.

It certainly can make a difference if you actually attempt to put any of the cryptos to use and then on a personal level deciding whether to learn about one wallet or another and what is more or less convenient depending on how much of any of the particular cryptos you hold and how much risk you are willing to take.

(07-29-2016 04:37 PM)innocent21 Wrote:  Blockchain.info is good but it's not anonymous. A staff member doxxed one of their members bitcoin wallets over a dispute, so the true way to be anonymous with crptocurrency is to store the wallet on your computer and backup your wallet.

First, regarding blockchain.info as a wallet. I have some bitcoins there, and I think that it is pretty good as a wallet in terms of security and being available on the internet from anywhere in the world. I have never used it for any other kind of crypto, and I am not sure if it is capable of such.

Second, regarding anonymity, these tend to be questions of degree and from whom you want to be anonymous. Blockchain.info does allow you to make multiple addresses and there are developing more and more ways to remain anonymous, but since bitcoin is on a public ledger, there is likely less anonymity than what people used to believe to be possible and even practical a few years ago.

Third, your example seems to be talking about security rather than anonymity, and your example seems to demonstrate that it could be possible to have blockchain wallet's security breached.. does DDOS mean the target person could not access the wallet or that the target person lost funds?

fourth, your recommendation to use another wallet may be all fine and dandy in theory, but when you actually have coins, you could weigh the risks and convenience differently.. and sure guys may vary in their ideas about whether one method is preferable or not to their particular circumstances.


(07-29-2016 04:37 PM)innocent21 Wrote:  Where you get your bitcoins or crptocurrency depends on what country you come from.

Sure, I understand that, and part of the reason that I asked you was to attempt to hear about some of your personal experiences regarding various coins, and those kinds of experiences could be helpful to be or for other guys to consider.
07-29-2016 06:07 PM
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JayJuanGee Offline
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RE: Alternatives to bitcoin
(07-29-2016 02:50 PM)JayJuanGee Wrote:  Here's an article from today providing some description and consideration of the role of the DAO attacker.

https://steemit.com/steemit/@thecryptofi...-white-hat

Sure, this is the attacker that sparked the Ethereum fork situation, and one of the problems with ETH, versus ETC, remains that employing the hardfork caused quite a bit of attention to the potential for centralization with Ethereum in that a fairly small committee (that may have not quite thought the matter through well enough in terms of long term ramifications) decided to treat ethereum like as if they were central bankers... so in that regard, ETC is an attempt to keep Ethereum more like bitcoin in terms of decentralization and immutability... which is likely going to continue to inspire a certain level of value that potentially could slowly migrate from ETH to ETC.. which may little by little cause the prices to migrate towards each other...

My understanding is that there are at least a couple of immediate measures of ETH versus ETC and that is price and hash power, and at the moment ETC has about 12% of the hashpower and the price of ETH - which is nail biting and something that will need to be monitored by those interested in this space.


To supplement my earlier post above, there are companies that are siding with ETC because they rely on a certain level of immutability, which seems to be a step towards avoiding some of the moral hazard of the ETH hardfork decision.

https://medium.com/@Stampery/why-stamper....8lxrgeid3
07-29-2016 06:18 PM
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RE: Alternatives to bitcoin
I have not bought any ETH, but I bought ETC (on bitfinex); however, I understand that recently, some folks had been buying ETH (I think on Coinbase), and they would receive both ETH and ETC, when they transferred their ETH to Poloniex - so maybe i got ripped off if there were better deals?

I don't really want to buy any ETH, but does anyone know exactly when the cut would have been to receive both - I thought that it would have been prior to the fork, but who knows? There could be various kinds of exploits, no? Maybe I should sell my ETC before I lose money?
07-29-2016 09:18 PM
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RE: Alternatives to bitcoin
Believe you're already past the cutoff for the 1:1 ETC/ETH payday. I transferred to Poloniex as well and decided to just leave the ETC in the exchange account for right now. I guess I could get some pocket money for it, but I'd rather just leave it and see how it pans out. ETH, I moved back to my Jaxx wallet.
07-30-2016 12:13 AM
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RE: Alternatives to bitcoin
(07-30-2016 12:13 AM)booshala Wrote:  Believe you're already past the cutoff for the 1:1 ETC/ETH payday.

Yes, my initial impression was that any ETH that a guy may have acquired prior to the hardfork from a couple of weeks ago would then be on both chains, ETH and ETC; however, if you purchased your ETH or ETC after the fork, then the respective purchases would only be on the chain respective to their fork.

Nonetheless, there has been some issues with some exchanges such as Coinbase choosing to only recognize one of the chains (ETH specifically and not ETC). I think Coinbase may stand out a bit more in this respect as compared to some other exchanges because their CEO Brian Armstrong has been so publicly vocal about a few things 1) pushing for a BTC hardfork with XT/Classic to increase the blocksize limit to 2mb 2) including ETH into their purchasing and exchange support, before adding other alt coins, including changing the name of their exchange to GDAX 3) not supporting ETC.

Anyhow, the publicity about folks seeming to take advantage of Coinbase's non-support for ETC by moving their coins to a location that supports both ETH and ETC (Poloniex specfically) was described as an exploit, but upon reflection I am not sure whether it was because quite a few exchanges (including BTC-e, Gemini, Uphold and likely some others) have not yet begun their support for ETC, even though they support ETH (yet maybe they have plans to begin supporting ETC in the future, I'm not sure).

(07-30-2016 12:13 AM)booshala Wrote:  I transferred to Poloniex as well and decided to just leave the ETC in the exchange account for right now.

What was your timing on this transfer to Poloniex, before or after the hardfork? did you transfer from your jaxx wallet or somewhere else?

So when your ETH arrived on Poloniex, you began to be able to see your coins for both?




(07-30-2016 12:13 AM)booshala Wrote:  I guess I could get some pocket money for it, but I'd rather just leave it and see how it pans out.

Yep.. At this point, it remains a bit unclear how this matter will play out, and/or how long it will take to sort out. In fact there is probably quite a bit more support in the ETC camp than the ETH core folks had calculated.

(07-30-2016 12:13 AM)booshala Wrote:  ETH, I moved back to my Jaxx wallet.

How long have you used Jaxx? how many kinds of coins you have on there? have you used other wallets and can make some comparisons? Jaxx is considered a wallet that you can use for bitcoin and ethereum anywhere that you can use a chrome browser? Is it easy to set up and to use, or is there a bit of a learning curve with that wallet?
07-30-2016 01:25 PM
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