Any good articles / resources that sum up bitcoin's competitors?
Alternatives to bitcoin
- Thread starter JJ Roberts
- Start date
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.
Grabbed this from the http://www.rooshvforum.com/thread-32951.html thread.
lowbudgetballer
Robin
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
lowbudgetballer
Brisey said:
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.
TL;DR Most crypto currencies aren't worth investing in unless you put in a lot of money and play the short term game.
Kid Twist said:
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/
lowbudgetballer
Robin
Does anyone know why Coinoindex crashed so hard yesterday?
'baller
'baller
lowbudgetballer said:
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.
spacetime said:
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.
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?
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?
JayJuanGee said:
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/@thecryptofiend/ethereum-must-fork-again-is-this-the-end-for-eth
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.
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.
dasher said:
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...
dasher said:
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.
dasher said:
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/
dasher said:
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.
Here's an article from today providing some description and consideration of the role of the DAO attacker.
https://steemit.com/steemit/@thecryptofiend/is-the-dao-hacker-a-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.
https://steemit.com/steemit/@thecryptofiend/is-the-dao-hacker-a-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.
innocent21
Pigeon
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
Bitcoin BTC
Blackcoin BLK
Dash DASH
Dogecoin DOGE
Emercoin EMC
Litecoin LTC
Paycoin XPY
Peercoin PPC
Primecoin XPM
Reddcoin RDD
Vertcoin VTC
innocent21 said:
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?
innocent21
Pigeon
JayJuanGee said:
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.