Fill me in here, what's the intention of the alternate coins (EG: litecoin) at the end of the day? With Bitcoin I can at least see there's a desire & drive to get merchants to accept them and lead to consumer adaptation as an alternate currency, but it kinda looks like the alternate coins are just playing to the spectators game.
No one seems to be talking about using litecoins at Subway, but simply the lower spectator/entry cost at the current time. Am I missing something here? Are people backing litecoin in hopes it overtakes bitcoin or becomes another strong alternative currency?
Many people in the communities believe there are better, and stronger ideas than Bitcoin. On top of that, different coins could fill different roles, not specifically -only- as an alternative to fiat currencies.
It does seem like investors are starting to figure out other currencies are worth speculative plays...so many random 100% jumps. But I still think there will be good days and bad days due to the amount of big money involved in this now. Many people don't believe in it - many people see it as an investment which will complicate its' actual value in the long term.
Just found out there is a group of people in Iceland that meet monthly to discuss/trade bitcoins! Hopefully there is some knowledgable folks, I am really weary of bitcoin right now, and am seriously considering focusing on the other currencies to build up just in case any of them catch up, but mostly focus on Litecoin.
Just found out there is a group of people in Iceland that meet monthly to discuss/trade bitcoins! Hopefully there is some knowledgable folks, I am really weary of bitcoin right now, and am seriously considering focusing on the other currencies to build up just in case any of them catch up, but mostly focus on Litecoin.
Is Jon Gnarr there? Because if he is, say hi for me. =p
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Honestly, the problem we are seeing right now is that all the alt-coins are rising fast, which means people are moving their money into them, which to me is a problem because that means people are, for the most part, solely investing in these projects as fiscal investments, likely to withdraw into the fiat of their choice.
For any cryptocurrency to remain strong in the long term, it has to be more than just "get rich quick". This process has been so rapid that I am certainly concerned about how this will play out. At least Bitcoin itself has been more stable.
NVC is hovering at freakin' $25 right now. And it will absolutely crash, because there is no way to cash out unless you convert back to BTC. Same thing with LTC.
So I pulled the trigger one of those USB ACIS miners. For $40 I figure I'll at least have a souvenir of this time if nothing else. "Back in my day we thought we'd make it rich with funny internet money!"
I'm honestly not sold on the idea of bitcoin being a huge revolution for currency (still feels like a bubble/house of cards to me), but I wanted to at least dip my toes in the water in case I'm horribly wrong.
NVC is hovering at freakin' $25 right now. And it will absolutely crash, because there is no way to cash out unless you convert back to BTC. Same thing with LTC.
Spoke with VirtEx last night, they told me they are adding LTC soon. Didn't give me a date
Okay I've been following this thread for a while now. If I understand correctly I can power up a computer with a few GPUs, let it run and create my own money?
Is the algorithm the computer works on useful for anything other than creating virtual coins, similar to how folding-at-home helps with cancer research?
Is this how Skynet gains enough computing power to take over all the things?
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