Alt-Coins

User avatar
Bucketeer
Bearish Supporter
Posts: 2005
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Alt-Coins

Postby Bucketeer » Sun Mar 12, 2017

This is the Alt-coins discussion topic.
Gentlemen prefer Engelhard.

User avatar
Bucketeer
Bearish Supporter
Posts: 2005
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: Alt-Coins

Postby Bucketeer » Sun Mar 12, 2017

I like Bitcoin, Ethereum, and Dash.
Gentlemen prefer Engelhard.

User avatar
SilverDoge
Constitutional Supporter
Posts: 3151
Joined: Mon Apr 21, 2014
Location: Italy

Re: Alt-Coins

Postby SilverDoge » Sun Mar 12, 2017

I use to be a fan of dogecoin not for any particular reason, it was just fun to transact in and you could own a lot of it for small money. Plus who doesn't love the Shiba dog!?!

I dabbled in trading on btc-e.com between litecoin, bitcoin, dogecoin, etc but that was a few years ago. Since then I traded all into bitcoin.

While I believe in bitcoin technology, and it definitely has a big time first mover advantage, I am open to other specialized coins that meet needs that bitcoin doesn't. Ethereum for smart contracts seems cool and I just dipped my toe in the water there. Dash seems to have overtaken Litecoin as the "silver" to bitcoin's "gold".

I have to do more research on Dash (Digital Cash) but it seems promising from what I've read so far.
Image

User avatar
Long John
Turtle Supporter
Posts: 3064
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Alt-Coins

Postby Long John » Sun Mar 12, 2017

I've started to get into the foil-wrapped chocolate ones. If worse comes to worst, you can eat 'em. Try that with an ASE or a cryptocoin!

User avatar
Silversaving
Posts: 632
Joined: Wed May 20, 2015
Location: Pacific Northwest

Re: Alt-Coins

Postby Silversaving » Sun Mar 12, 2017

I'm just going to throw a quick plug out for DASH.

A little over a month ago it was $17/DASH. I unfortunatley didn't become aware of it and why it was completely different for every other coin till it had shot into the high $30s. I bought a few thousand in it then. It's currently $77/DASH as of today and I've doubled my investment value in under a month.

Let me real quick mention why it's different from bitcoin or any other "alt coin":

1) It's the ONLY one that has INSTANT approved transactions. This is a big one because while most altcoins like bitcoin are trying to become "digital gold" or stores of value, DASH is trying to become the next paypal or "medium of exchange". Basically its the only crypto you could walk into starbucks with and pay for a coffee and immediately walk away drinking it. The network can handle something like 4 times the transactions that VISA and Mastercard can handle currently.

2) It's the only one with a two tiered system. You have the usual blockchain on one tier and a 2nd masternode tier for instant transactions. Just brilliant thinking when they set it up.

3) It's the ONLY one that incentivizes owning it. Block rewards and fees that in most other coins just go to the miners that mine them are broken up. Miners get 45%, Masternode owners get 45%, and 10% is help every month and distributed to people (new and established) working on projects to move DASH forward. They PAY their employees and anyone who wants to work on the project. They pay YOU the owner of DASH to hold it and put it into control of masternodes. And they pay the miners to mine dash (its x11 algorithm is much cheaper on power bill to mine also). EVERYONE wins, NOBODY loses.

4) It's still in it's infancy. Later this summer, DASH evolution will be released. Basically that will give a quick and easy few lines of code for any business to tie into the DASH network as a form of payment on their website. Most of us expect the price to jump substantially when it's released....well it's already been jumping, but more so.

Anyway, I'm not trying to convince anyone on anything, but I've been extremely thankful I found out about when I did and got in. I felt I should at least make people aware of it so they can do their own reading. I'm personally sinking most everything extra I get now into it for likely the next 5 months or so. Well, outside of the destiny #2 group buy coming up :shh:

Just my 2 cents

Altima
Posts: 980
Joined: Sat May 10, 2014
Location: Canada/Singapore

Re: Alt-Coins

Postby Altima » Sun Mar 12, 2017

I'm in for the long haul for Ethereum, as I see lots of potential with it.

On the other hand, I'm not entirely convinced with DASH as I personally believe it reminds me on a ponzi/scam scheme. I could be wrong but I'm just staying away from it for the time being. My friends earlier sent me this link:

https://www.reddit.com/r/Bitcoin/commen ... _has_been/
"Two things define you. Your patience when you have nothing, and your attitude when you have everything."

User avatar
Bucketeer
Bearish Supporter
Posts: 2005
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: Alt-Coins

Postby Bucketeer » Sun Mar 12, 2017

Shape Shift messed up my order. I own much less Dash than I tried to buy. I'm not real upset about it tho.

I think all of the alt coins are a scam, including Ether and Dash, and I own both. That doesn't mean you can't have fun and make some money at the same time.

IMO, all of the Alts are going to have a pullback....too much pumping. YMMV.
Gentlemen prefer Engelhard.

User avatar
Long John
Turtle Supporter
Posts: 3064
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Alt-Coins

Postby Long John » Sun Mar 12, 2017

Bucketeer wrote:I think all of the alt coins are a scam, including Ether and Dash, and I own both. That doesn't mean you can't have fun and make some money at the same time.

Are you excluding Bitcoin from this assessment? I'm guessing so, because you started a new thread for alt-coins other than Bit.

Dash sounds interesting, especially the instant transactions and being able to use one tier of it like PayPal. Assuming Dash catches on with retailers and vendors. But the terminology of EVERYBODY wins, NOBODY loses makes me uneasy. All of these ventures where value increases as more people join up can't be sustainable. Some of them are going to flop, if history is any guide. Is that flawed thinking?

User avatar
Bucketeer
Bearish Supporter
Posts: 2005
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: Alt-Coins

Postby Bucketeer » Mon Mar 13, 2017

Bucketeer wrote:Alt-coins are important, however many people think that most of them are sh*t-coins. How many are out there...like 400 or 4000? I own a couple of them.

This is a Bitcoin topic. It has over 40 pages, and yet the same basic questions keep getting repeated over and over. That is OK. Talking Alt-coins in this topic would just muddy the water and further confuse people who are trying to learn the basics.

Alt-coins need their own topic.


I was feeling pro-active this morning, hence this topic

The term "scam coins" is considered to be "mildly derogatory", but usually not meant in a criminal way - its' more of a "dig" used by holders of different coins when they get into the numerous flame wars on Reddit. The term "scam coin" is not meant to be taken too seriously.

Bitcoin is the the least-suspect of scam coins, but only because it is 1st mover. It is in a class by itself. All the others are scam coins, in one way or another.

You buy these to have fun and maybe make some money, and sometimes you can make a lot.

I bought Ethereum at the crowd funding event, and I still own some Ether. I believe it is a criminal scam coin because the founders may have committed securities fraud on several occasions. That's just my opinion, however....

There are probably 5-6 securities lawyers in the United States that have significant court experience with cryptocoins. One of them agrees with some of my opinions regarding Ethereum. Maybe something is in the works.

Enough on scam coins - now they have their own playground for discussion.
Gentlemen prefer Engelhard.

User avatar
Bucketeer
Bearish Supporter
Posts: 2005
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: Alt-Coins

Postby Bucketeer » Mon Mar 13, 2017

Altima wrote:
On the other hand, I'm not entirely convinced with DASH as I personally believe it reminds me on a ponzi/scam scheme. I could be wrong but I'm just staying away from it for the time being. My friends earlier sent me this link:

https://www.reddit.com/r/Bitcoin/commen ... _has_been/


Amanda Johnson's video is a good example of the pumping going on at Dash. There are a few others.

Some company might want to buy Dash, but it won't be PayPal. If PP decides to come into this space, they could have 100 C++ programmers and "real" program mangers working in 2 weeks, a prototype in 2 months, and a delivered product in 6 months. They would also have a real spokeswomen, some known TV newsbabe.

I only ended up with a couple of Dash coins, and in retrospect I'm glad. I only bought it because I thought the big mo might take it to $100. I'm not so sure of that now, but I'll hang on to my little stash of Dash.

The trolls at Polo were really scared of Dash yesterday, but they are watching for weakness now. I see $40 before $100.

: SHOTS FIRED! :
Gentlemen prefer Engelhard.

User avatar
Silversaving
Posts: 632
Joined: Wed May 20, 2015
Location: Pacific Northwest

Re: Alt-Coins

Postby Silversaving » Mon Mar 13, 2017

I think there was some misinterpretation. DASH does not want to be bought by PayPal. DASH expects to BECOME the next PayPal. Instant payments, extreme ease of use for customer and store, SIMPLE platform with a username and password like every "normal" person is used to already.

I get there are a lot of trolls and bashers out there. Honestly their results have and will continue to speak for itself this year. I simply wanted people to be aware of it so they aren't blindsided when it hits the 1 billion market cap.

User avatar
Bucketeer
Bearish Supporter
Posts: 2005
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: Alt-Coins

Postby Bucketeer » Mon Mar 13, 2017

I never said that PayPal was going to buy Dash, but there have been a lot of claims and comparisons being made elsewhere.

You're right about the misinterpretation, but there was also some misrepresentation. Hey, that's what the alts are are all about. The trolls and basher's can be a pain, but they also serve a valuable purpose.

Looks like Dash made some positive headway overnight. Most of the bigger names had a big move yesterday, including Ether. We're all making money, so hopefully it continues into the week.
Gentlemen prefer Engelhard.

User avatar
SilverDoge
Constitutional Supporter
Posts: 3151
Joined: Mon Apr 21, 2014
Location: Italy

Re: Alt-Coins

Postby SilverDoge » Mon Mar 13, 2017

Bucketeer wrote:I never said that PayPal was going to buy Dash, but there have been a lot of claims and comparisons being made elsewhere.

You're right about the misinterpretation, but there was also some misrepresentation. Hey, that's what the alts are are all about. The trolls and basher's can be a pain, but they also serve a valuable purpose.

Looks like Dash made some positive headway overnight. Most of the bigger names had a big move yesterday, including Ether. We're all making money, so hopefully it continues into the week.


Agree. All my Ether hasn't arrived yet from Coinbase and it has now been more than 2 days since it was supposed to be delivered. Hmmm. I will hold judgement for now and see how this plays out. If they brick out on me after a 30% jump in price I won't be thrilled about that.
Image

Altima
Posts: 980
Joined: Sat May 10, 2014
Location: Canada/Singapore

Re: Alt-Coins

Postby Altima » Mon Mar 13, 2017

Woke up this morning to see ETH breaking 25 USD and going for 30 USD.

:pop:
"Two things define you. Your patience when you have nothing, and your attitude when you have everything."

User avatar
Bucketeer
Bearish Supporter
Posts: 2005
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: Alt-Coins

Postby Bucketeer » Mon Mar 13, 2017

I'm up %82.7 in 15 days in ETH.

I wish I had bought more than 100. I have about 15 Eth, 15 Etc, and 5000 Dao tokens sitting on an old, unused PC. I guess I'll hook it up this afternoon and turn it all back into Eth.

Ether was only a scam-coin until The DAO. After that, it became a fraud-coin. If there is anything to learn from Ethereum, it is that "if the original intent* was beneficial and adds value", then a coin can survive a hard-fork and rise again.

*I said "intent", not methods.
Gentlemen prefer Engelhard.

User avatar
SilverDoge
Constitutional Supporter
Posts: 3151
Joined: Mon Apr 21, 2014
Location: Italy

Re: Alt-Coins

Postby SilverDoge » Mon Mar 13, 2017

Bucketeer wrote:I'm up %82.7 in 15 days in ETH.

I wish I had bought more than 100. I have about 15 Eth, 15 Etc, and 5000 Dao tokens sitting on an old, unused PC. I guess I'll hook it up this afternoon and turn it all back into Eth.

Ether was only a scam-coin until The DAO. After that, it became a fraud-coin. If there is anything to learn from Ethereum, it is that "if the original intent* was beneficial and adds value", then a coin can survive a hard-fork and rise again.

*I said "intent", not methods.


I'm gonna be honest here, I wanted to diversify in crypto a bit and it was the only other thing Coinbase offered for sale :lol: That and it didn't just die off after the hard fork.

That said, Dash and Monero seem to be the other two up and coming contenders so we'll see what happens.

Congrats on that return.
Image

User avatar
Long John
Turtle Supporter
Posts: 3064
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Alt-Coins

Postby Long John » Mon Mar 13, 2017

SilverDoge wrote:Congrats on that return.

Yes, congrats on the return for those who are riding the wave. Not really a lot different than buying silver when spot is $14 and selling when it's $20, but the surges in these nascent days are bigger and faster. But I get the sense, perhaps incorrectly, that not everyone is a "true believer" here, that there is a sense of smoke and mirrors but also an appreciation of an opportunity to make money. I admire those who see their chance and take it, especially when they play it right.

Here's a question that is perhaps annoying because it's been asked before: Once you become convinced that the joyride is almost over, how easy and fast can you cash out?

User avatar
Bucketeer
Bearish Supporter
Posts: 2005
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: Alt-Coins

Postby Bucketeer » Mon Mar 13, 2017

ETH just crested $30 guys, now $30.87. I'll be up 100% at 31.08

As I recall, the ATH was .044, which is now $54.25.


John - real quick - subject to a variety of factors.
Gentlemen prefer Engelhard.

User avatar
Bucketeer
Bearish Supporter
Posts: 2005
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: Alt-Coins

Postby Bucketeer » Mon Mar 13, 2017

Bucketeer wrote:Shape Shift messed up my order. I own much less Dash than I tried to buy. I'm not real upset about it tho.


SilverDoge wrote:All my Ether hasn't arrived yet from Coinbase and it has now been more than 2 days since it was supposed to be delivered. Hmmm. I will hold judgement for now and see how this plays out. If they brick out on me after a 30% jump in price I won't be thrilled about that.


John - here are two instances that happened in the past 3 days, because of a fast-market. The same thing can happen in trying to get out. You can trade on an an exchange like Poloniex with a better chance of success but your coins are under the control of the exchange, not you. Exchanges get hacked (Mt Gox, BitMex).

Same terms and conditions for Bitcoin apply here, but maybe require closer scrutiny.
Gentlemen prefer Engelhard.

User avatar
Bucketeer
Bearish Supporter
Posts: 2005
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: Alt-Coins

Postby Bucketeer » Mon Mar 13, 2017

DASH 7 Day Chart - Totally Pumped


download (7).png
download (7).png (119.83 KiB) Viewed 1477 times


I bought DASH at approx 69-70....I made 2 orders, and only had 1 fill. I bought it because I thought the pump that was going on (aka - big mo) would carry it to $100. I'm not so sure of that now.

DASH has a good story for new money, and maybe even a viable business plan. They also have a long history that should be carefully considered before investing any money. Trading is not investing.

With the exception of Ethereum (The Prettiest Lie Ever Told), alt-coins should be considered to be even more speculative than foreign penny stocks.
Last edited by Bucketeer on Mon Mar 13, 2017, edited 2 times in total.
Gentlemen prefer Engelhard.


Return to “Bitcoin”

Who is online

Users browsing this forum: No registered users and 1 guest