Due to all scams around and 100s of coins coming out its not easy to spot right investments so as every month im posting my own suggestion of what to mine with your asics right now or what to invest in. Have a look at my picks for August of not so obvious investments you could miss or didnt read good enough about! There was also 2 things opened lately that should be noted. By holding any amount of BTC or LTC in Cryptsy you will be getting paid daily dividents from their fees – so easy way to make your money work for you not just sit in pocket. On the other hand GAW opened Hashlets. This works like a cloud server but for miners. You can 24/7 buy new hashing scrypt power and get it mine for you on chosen multipools – try it HERE, its cheap and very interesting.
BIG BigBullion – sha256 [like BTC] coin which has decent pricing right now and wants to be exchanged to gold bullion in future. If you look at latest sha256 coisn you will see the market is really hungry for them and they get decent pricing which BIG coin already has yet it doesnt have audience that saturates it so its good tiem to enter by buying or mining right now. KnC owners are loving it right now. Trades on Bittrex.
XDE DoubleEagle – unique x15 algo [GPU mineable only] coin with wallet that has planned to have inside block explorer, exchange rates and few other things. Not saturated algo, nice price and no premine. Watch out the PoW [mining] time is short! Trades on Bittrex.
NOTE DNotes – coin with a few years upfront marketing plan made on scrypt algo. Dev team is very active and doesnt seem to be going anywhere and keeps the coin running and upgrading. The marketing team keeps filling their plans and the coin has to raise. Trading almost everywhere but best prices on Allcoin
uLTC Umberella Litecoin – preety unique idea of making a LTC merged mining coin that also has insurance fund for exchanges being hacked or loosing coins. While mining uLTC you can mine few other coins same time [LTC included] so its a no brainer at this point. Trades at Atomic-Trade.
LTC Litecoin – well the second famous cryptocurrency yet not so obvious for everybody to get o nright now. I will tell you one thing – if you have spare funds that you are not worried about invest 100% in LTC right now [before 6-7USD hits] and you will thank me later. This coin wasnt at such cheap prices like 2 days ago [3,5USD] since over a year. Also there are big marketing plans and new things released like Electrum LTC. Trades everywhere 🙂
SYS SysCoin – the most innovative coin i`ve seen in last year, has loads of extra options packed up and i was suggesting you all to get on the IPO. If you didnt still there is good time to buy and mine it since it had some troubles on launch and price is far from where it should be. Scrypt mining [like LTC]. Trading everywhere but best prices on Cryptsy.
STR Stellar Coin – this is unusual coin and a bit centralised but also easy to use. You can get some free ones just by making account at official site and veryfing with Facebook – just delete it after you get free coins from allowed apps. This cryptocurrency was made by few really sucessful guys from finance industry so good ot hold some. Trades on Allcoin.
COINS TO AVOID:
Cluster Coin CLSTR, Use Coin USE, HYPER Coin HYPER
Helped or Loved it? Drop a Coin!
* BTC – 1BrTwi9uACs7u6vQ111CAJuy8mFZLSDgGr
* LTC – LfAurHeUMMDkJHmhdYdyPN5z7DYYekykuK
* DRK – Xt2hjWK3NZsMtcWvCqMj7diNS3sf7x4yX3
* DOGE – DHSVNrBqgBawqPuh5rLZJs5fDkS4pr3Ehq
You mention getting dividend payment by holding money in my Cryptsy account. How does that work, just leave BTC there or do I need to invest into their stocks?
Thx
you only hold nothing to do with stocks 🙂
A LONG READ – skip to summary at bottom if you want
Background – I first discovered bitcoin in Sept 2013, lurked for a while, bought & sold on localbitcoins.com, watched the altcoin explosion, traded some coins, learned.
The other day on the Poloniex Troll Box, I saw a brilliant comment that summed it all up, “What difference does a new algo make for XXX (insert name here) coin, when next week there will be a newer one?”
Every other comment on the Troll box & these forums runs along the lines of, “XXX coin is no clone, the Dev created 7 new algos, the coin will soar – to da moon!” Of course that is rebutted in days with, “Yeah but XXX2 coin flips those algos sideways & upside down – to da moon!”
Ah, we geeks just don’t get it!
The user community for a coin only cares technically about two things:
– Is it easy to use
– is it secure
And an engaged user community is the only thing that will give an altcoin longterm success
ALL the others, with all their new technology claims, only serve one purpose: mine them fast, pump & dump, convert to bitcoin… Next!
Although the battle for the anon coins is worth some investment, IMHO
There are only two legitimate reasons for an altcoin:
– it is technologically advanced enough to replace, or partially replace bitcoin
– it serves a niche market
This post is about niche coins and what it takes to succeed in that environment.
A DISCLAIMER BEFORE YOU KEEP READING – I would like to explain what it is like out in the real world, building a longterm user community, and as a coin Dev can really only speak from my experience. I won’t give details about the coin (you can get those from my sig if interested) but can’t really tell the story without some reference to it.
First hurdle: When we explain our coin to potential users (artists in our case), we used to compare it, “It’s like Bitcoin… have you heard of bitcoin?”
Amazingly, 80% say no, and for the 90% who say yes, bitcoin is a negative.
The comment we most often get is, “yeah bitcoin is that Ponzi scheme, right?” When asked where they heard that, they say, “somewhere on the news”
Now we present it as a digital currency (they don’t get the term “crypto”) that works similarly to an airline mileage reward card, you can earn AppleBytes and convert them to cash or buy things…” They get that, and it sounds safe to them.
The next hurdle, surprised me. They like the idea, and want to know how to get started. So we tell them to download the wallet app (we had to call it an app, because they get very confused with all our cryptocurrency techno babble: wallet, faucet, pool, etc).
Half may join, but the other half of them immediately say, “oh no, I won’t download anything to my computer, it may have a virus”
So in addition to MAC, Windows, Android, we have to give them an online wallet. That way they will join, then later we can educate them about security issues on our forum.
The next hurdle is the battle of the two disparate economies in the cryptocurrency world.
One economy is the miners, capable of mining significant quantities of a coin. Their aim for the most part is simple, mine the most profitable coin and convert to bitcoin. A legitimate strategy, and I don’t blame them. I have been one of them.
The other is the user economy, and though we made it easy with built in CPU pool mining in the wallet (and some other tricks to limit the impact of ASICs, etc), they can only mine a hundred or so a day, not thousands. For them you have to provide the opportunity to spend their coins at a much higher Satoshi conversion rate than the miners are swapping them (at least in the beginning). There are ways to do that, but that is not what this post is about. And telling them to trade the alt for bitcoin on some exchange and then to cash, is not one of them.
And last is the dreaded “P” word – premine!
Now my comments may surprise you. It is not premine that is evil, it is how it is used.
The two wrong ways that cause a coin to ultimately fail are these:
– Devs are paid with it
– There is an Air Drop
The first leads to nothing but Pump & Dump
The second leads to a rapid devaluation and kills the coin
It can be used, spread over many years for legitimate purpose to serve the user community.
IN SUMMARY: We crypto geeks have to get reality! To succeed longterm, a coin must address these issues:
1. Users only care about ease of use & security, they really don’t care about our x1186SHAPOWPOS, inverted 3x algo
2. Recognize the two disparate economies of cryptocurrencies (Miners vs Users)
3. Solve how a coin gets into the real users wallets, not the miners/traders
4. Give the users something do with the coin