Alt-Coins

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SilverDoge
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Re: Alt-Coins

Postby SilverDoge » Fri Dec 29, 2017

SilverDoge wrote:
Silversaving wrote:Wagerr (WGR) finally taking off. I grabbed a bunch of this many months ago. They had some issues and annoying delays. But looks like they are launching their main net in January now and the price action is flying up. For a while I was just hopeful I'd get my money back on this.....now it looks like I'll be taking a profit after all.


Knock on wood. WGR over $0.20. ICO was 5 cents - so not NEO performance or anything, but who would have guessed that we'd be scoffing at "only" a 4x in under a year? :lol:


Don't look now, but WGR is over $0.50. That is 10x from ICO. January 15th is the wallet release and TestNet of the platform. My gambling cryptos are doing well.
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Long John
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Re: Alt-Coins

Postby Long John » Fri Dec 29, 2017

SilverDoge wrote:Don't look now, but WGR is over $0.50. That is 10x from ICO.

I have no idea whether this is relevant to WGR, I mean it in a general sense for all alts and this is the alt-coin thread. But your post sparked a train of thought.

If its ICO value was (for example) 0.00001 BTC about 9-10 months ago, and its BTC value today was still 0.00001, its USD value would have gone up 10X. It matters because one can't sell their alt directly for USD; it is sold for BTC (or ETH on some exchanges). Of course that BTC is now worth 10X what it was when the alt was purchased, so you do gain 10X, but it wasn't the alt that did it.

That is how I have seen it explained, but there's more to it, that I have seen explained less. In order for the alt to keep pace with Bitcoin, to hold that 0.00001 value as Bitcoin shot up, the alt must have performed as well in its own right. Otherwise, its BTC value would be far less. We've certainly seen that with many, many alt-coins this year.

It's true, though, that a coin can lose quite a bit of BTC value and still gain in USD value.

A USD-oriented person might say, so what? If I put $1000 in and take $1200 out, I win, regardless of BTC loss. The BTC-oriented person might be dismayed, however, that he has less BTC than he started with.

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SilverDoge
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Re: Alt-Coins

Postby SilverDoge » Fri Dec 29, 2017

Long John wrote:
SilverDoge wrote:Don't look now, but WGR is over $0.50. That is 10x from ICO.

I have no idea whether this is relevant to WGR, I mean it in a general sense for all alts and this is the alt-coin thread. But your post sparked a train of thought.

If its ICO value was (for example) 0.00001 BTC about 9-10 months ago, and its BTC value today was still 0.00001, its USD value would have gone up 10X. It matters because one can't sell their alt directly for USD; it is sold for BTC (or ETH on some exchanges). Of course that BTC is now worth 10X what it was when the alt was purchased, so you do gain 10X, but it wasn't the alt that did it.

That is how I have seen it explained, but there's more to it, that I have seen explained less. In order for the alt to keep pace with Bitcoin, to hold that 0.00001 value as Bitcoin shot up, the alt must have performed as well in its own right. Otherwise, its BTC value would be far less. We've certainly seen that with many, many alt-coins this year.

It's true, though, that a coin can lose quite a bit of BTC value and still gain in USD value.

A USD-oriented person might say, so what? If I put $1000 in and take $1200 out, I win, regardless of BTC loss. The BTC-oriented person might be dismayed, however, that he has less BTC than he started with.


Your analysis is spot on. The BTC value is the more important metric from the crypto hodl'ers perspective because that is the opportunity cost crypto. It is the benchmark. Once you've decided to get into the crypto-space the BTC value is the metric/benchmark to measure success against. However, in the BS threads, oftentimes the USD value is a more impressive metric to crypto noobs or PM stackers. It is easier to relate to, or benchmark against. If I post that my chosen crypto just gained 20% against BTC - that often means little to stackers here.
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Re: Alt-Coins

Postby SilverDoge » Fri Dec 29, 2017

Public Service Announcement: Don't buy Venezuela's "oil-backed" Petro crypto unless you want to lose all your money.

https://www.zerohedge.com/news/2017-12-28/venezuela-will-back-its-cryptocurrency-5-billion-barrels-oil-gold-deposits
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Re: Alt-Coins

Postby Bucketeer » Fri Dec 29, 2017

I think you nailed it Doge. Just ride the bull.

In the early 1900's, there were over 100 car manufacturers. Now we have 3, and for you Tesla wannabes, I'll call it 4.

Yeah, we've got the Japanese and Germans building here, but they are not American.

Most of the Alt-coins are going to fail. Bitcoin might bust, but it is the 1st mover.

Ford, GM, and Toyota are the Big 3. So are BCH, ETH, LTC, and maybe Ripple. Chrysler (Fiat) doesn't count.

Fiat: Fix It Again Tony.
Last edited by Bucketeer on Sat Dec 30, 2017, edited 2 times in total.
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Bucketeer
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Re: Alt-Coins

Postby Bucketeer » Sat Dec 30, 2017

ZH: New Kids on the Blockchain

https://www.zerohedge.com/news/2017-12-29/bitcoinbreakdown-new-kids-blockchain

People are making more money trading ICOs instead of HODLING Bitcoin. Good luck guys, I'm sticking with the King.
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SilverDoge
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Re: Alt-Coins

Postby SilverDoge » Sat Dec 30, 2017

Bucketeer wrote:In the early 1900's, there were over 100 car manufacturers. Now we have 3, and for you Tesla wannabes, I'll call it 4.

Yeah, we've got the Japanese and Germans building here, but they are not American.

Most of the Alt-coins are going to fail. Bitcoin might bust, but it is the 1st mover.

Ford, GM, and Toyota are the Big 3. So are BCH, ETH, LTC, and maybe Ripple. Chrysler.


I wholeheartedly disagree. This is 20th century thinking. This thinking is based on large up-front fixed costs of manufacturing, lobbyists helping to create obstacles for competitors in Washington, unions, regulations, etc. Real crypto is at its heart the opposite of all this. Low barriers to entry with success going to innovators, good marketing, network effects, etc. Crypto is global, not limited to a single nation. Crypto allows Joe Sixpack to become a small time VC.

Then you also have the fact that crypto is going to disrupt many different industries, not just monetary policy. I don't look at BTC & ETH as competitors. They aim to achieve different goals. I don't know what the "right" valuation is for total crypto market capitalization, but I don't think $5 trillion is that crazy. But it could come back down to $200 million as well. We just don't know yet. What we do know is that this is still early adoption stage.

When you say most of the alt-coins will "fail" what does this mean? When you don't quantify something, it is easy to claim victory in hindsight. You could say price dropping 50% from an all time high is failure, but that isn't necessarily true. If by failure you mean non-existent in 5 years, then maybe. I would say the top 300 coins on CMC will still be in existence (with many new ones) in 3 years time. The bottom 70% of coins will be a coin-flip on survival. But if I only hold the top 200, do I care if crypto #785 fails or not? It isn't relevant, and we all know those micro-cap cryptos are penny stock gambles anyway.
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Re: Alt-Coins

Postby Bucketeer » Sat Dec 30, 2017

Hmmm....I gotta think that one over Doge. You made good some points, however we only have 4 major credit cards in existence. A Texaco Gas Card is worthless in Florida. 300 coins doesn't seem realistic.

In the meantime.......

ZH: What "Off The Grid" Indicators Reveal About The True State Of The US Economy.

https://www.zerohedge.com/news/2017-12-29/what-grid-indicators-reveal-about-true-state-us-economy
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Re: Alt-Coins

Postby SilverDoge » Sat Dec 30, 2017

Bucketeer wrote:Hmmm....I gotta think that one over Doge. You made good some points, however we only have 4 major credit cards in existence. A Texaco Gas Card is worthless in Florida. 300 coins doesn't seem realistic.


A better comparison instead of credit cards, would be how many loyalty rewards cards/programs can you sign up for right now? A hundred, a thousand? Now think globally. And that is just one market (brand loyalty). Blockchain invented a trustless paradigm solving both the double spending problem, the censorship-resistance issue, and the ability to cut out the middle-men of many industries.

Online gambling and sports-betting is about to be completely disrupted - ask me how I know we need fair, low-cost, trustless gambling :roll: . Escrow service & title searches will be a thing of the past. Smart contract platforms have just started scratching the surface of the possibilities. My kids will have the opportunity to complete college degree programs surrounding blockchain and smart-contract programming that don't even exist yet. And much more.
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Re: Alt-Coins

Postby Bucketeer » Sat Dec 30, 2017

SilverDoge wrote:
Bucketeer wrote:Hmmm....I gotta think that one over Doge. You made good some points, however we only have 4 major credit cards in existence. A Texaco Gas Card is worthless in Florida. 300 coins doesn't seem realistic.

A better comparison instead of credit cards, would be how many loyalty rewards cards/programs can you sign up for right now? A hundred, a thousand? Now think globally. And that is just one market (brand loyalty). Blockchain invented a trustless paradigm solving both the double spending problem, the censorship-resistance issue, and the ability to cut out the middle-men of many industries.]



Maybe I need to make a distinction between Currency (BTC,BCH, LTC), Lenders (SALT), and Fuel (ETH, Ripple, and the others). I only use 1 Loyalty card (Winn Dixie) because generally, as you get older, you're not spending money at retailers. I'll never have 300 cards on my key-ring.

You already own enough "stuff" when you're a senior (baby boomer).


I rarely go to Lowe's, Best Buy, Sears, JC Penney. I hate Walmart, I try to keep trips to twice a month for Walmart.

Consider this -advertisers and TV producers aren't interested in seniors (might be off-base on that claim for Big Pharmaceuticals though). The ad agencies have studied the market, and they know seniors aren't buyers. The "middle men" are going to fight to not reduce the prices, despite the expense reductions.

I don't do online gaming and sports books, but if you say it is going be disruptive, you're probably correct.

Buy SALT - it is cheap and it is gonna be a big winner. Start the video at 9:50.

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Re: Alt-Coins

Postby Silversaving » Sat Dec 30, 2017

If you guys are looking for a place to spend your hard earned crypto...
https://www.moonlambos.io/showroom
Seeking a few Rodebaugh Bars. Looking for a series #1, Fat Boy, 2015 100g, & 2012 classic bar. Also collecting the #9 serial on any of his other pieces.

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Re: Alt-Coins

Postby Bucketeer » Sat Dec 30, 2017

Nice link but I'd buy another 911 if I was in the market. Lambos are just Fiats with a different badge. Ferrari too.
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Re: Alt-Coins

Postby Bucketeer » Sat Dec 30, 2017

Gentlemen prefer Engelhard.

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Re: Alt-Coins

Postby Bucketeer » Sat Dec 30, 2017

ZH: Ripple's Explosive Surge Accelerates; Market Cap Crosses Half Of Bitcoin's.
I thought about buying this at 30 cents, who's crying now? Ratz. :pop:

https://www.zerohedge.com/news/2017-12-30/ripples-explosive-surge-accelerates-market-cap-crosses-half-bitcoins
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Re: Alt-Coins

Postby Bucketeer » Sat Dec 30, 2017

Hey, have any of you been looking at Eryllium? I'm trying to figure it out. Currently 1.86 cents for the tokens.
https://eryllium.com/

https://coinmarketcap.com/currencies/eryllium/
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Re: Alt-Coins

Postby Silverkid » Sat Dec 30, 2017

:sold:
Bucketeer wrote:ZH: Ripple's Explosive Surge Accelerates; Market Cap Crosses Half Of Bitcoin's.
I thought about buying this at 30 cents, who's crying now? Ratz. :pop:

https://www.zerohedge.com/news/2017-12-30/ripples-explosive-surge-accelerates-market-cap-crosses-half-bitcoins


I'm small time, but still have 335 xrp from more than 10000 sats ago. Looking forward to the growth
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Bucketeer
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Re: Alt-Coins

Postby Bucketeer » Sat Dec 30, 2017

HODL it forever. What kinda guitar is that in your avatar? I play a Gretsch Hollow Body (rather badly - lol).
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Cardano

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Re: Alt-Coins

Postby MaxGravy » Sat Dec 30, 2017

Bucketeer wrote:HODL it forever. What kinda guitar is that in your avatar? I play a Gretsch Hollow Body (rather badly - lol).


That's Trey from Phish and he usually plays a custom Languedoc. Built by the band's soundman, Paul Languedoc. I met him once.

http://www.languedocguitars.com/guitars/
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Bucketeer
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Re: Alt-Coins

Postby Bucketeer » Sat Dec 30, 2017

MaxGravy wrote:
Bucketeer wrote:HODL it forever. What kinda guitar is that in your avatar? I play a Gretsch Hollow Body (rather badly - lol).


That's Trey from Phish and he usually plays a custom Languedoc. Built by the band's soundman, Paul Languedoc. I met him once.

http://www.languedocguitars.com/guitars/


Wow! I've seen a lot of bands, but I've never seen Phish. It must be a nice guitar. I've heard that Phish used to perform Quadrophina by The Who. I need to get a CD from him.

Thanks for the link for Paul. His G4 looks really nice, but he has nothing available for sale at this time. That is truly a custom guitar.

Like I said, I'm now a Gretsch player. I started with a Strat in high school, and later bought an Epi 335.

My ex's daughter stole them and traded them for crack. She went to prison for 3 years, in connection with a couple of home burglaries in the neighborhood. I didn't rat her out, but the police knew she stole them and sold them to a pawn shop.

The Gretsch will be my last guitar, she is a beauty.

Are you still practicing Randy? My Gretsch is mostly a wall-hanger anymore. It is beautiful artwork.

2507010509_gtr_frt_001_rr.png
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Last edited by Bucketeer on Sat Dec 30, 2017, edited 5 times in total.
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