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gdax is generally fine. if you use coinbase, just switch over (some company)If these currencies want to gain real traction, they need exchanges that don't crash every other day.
Congrats to idfnl and others who have been riding this spike.
I haven't looked at this stuff nearly as closely as some of you, so I'm curious --
it doesn't seem like the other (relatively) big name cryptocurrencies are shooting up the way bitcoin is. Is that because (1) lots of people don't even know that "bitcoin" is a one particularly cryptocurrency rather than the only one, and it gets used as a generic term like "Frisbee", so people who want to jump in on this not new thing they're hearing about just pile into bitcoin without even realizing there are alternatives; (2) bitcoin's name recognition means it will get more coverage from futures markets, merchants, whatever, so that the name recognition translates into a real market advantage; (3) something else has recently happened to give bitcoin a real or perceived leg up on others; (4) whatever/profit?
Thanks. And for clarity I mainly meant over the last week or so.Some 'altcurrencies' are- namely Etherum and Litecoin (both posting 1000%+ increases this year)
1/2 -Yes. Mostly first mover advantage/name recognition. The recent uptick has come seemingly at the expense of the smaller coins, as people who own the smaller coins are fleeing to Bitcoin, 'riding the wave'.
3- Main advantage of Bitcoin at this point is that it has more real world uses/applications (again, not because it's 'best' but because it is the largest/first)
Thanks. And for clarity I mainly meant over the last week or so.
Thanks. And for clarity I mainly meant over the last week or so.
Then yes, in a general sense you're correct.
The news media isn't as well versed in all the altcurrencies so they only report on bitcoin, and it has the astronmical price tag (you won't see headlines when smaller currencies jump from $1-->$5 in one week even though its a massive % increase).
Price has also shot up because because CME/CF are going to open BTC futures exchanges next week (as well as news of Square beginning to accept payment in BTC and rumors of Amazon accepting BTC). So I suppose the answer to your question is that intrinsically BTC isn't better than other alts- Monero has more privacy, Litecoin processes transactions cheaper and faster, etc. It's mostly first mover advantage + name recognition + real world applications.
This may sound narrow-minded but btc market looks too risky atm for newbies. I used to read some of articles written by Mr. Altucher on SA and my observation warns me to stay away from him. I don't know where the Amazon rumor began but he used it to push the sales of his online junks pretty hard. I saw how other forms of people monies picked up and killed off by authorities so I will keep my skepticism for now. Still, I hope that day will come when people can rid of most human corruption. This is necessary for a sustainable global economy. My bet is on AI countering human.
Congrats to idfnl and others who have been riding this spike.
I haven't looked at this stuff nearly as closely as some of you, so I'm curious --
it doesn't seem like the other (relatively) big name cryptocurrencies are shooting up the way bitcoin is. Is that because (1) lots of people don't even know that "bitcoin" is a one particularly cryptocurrency rather than the only one, and it gets used as a generic term like "Frisbee", so people who want to jump in on this not new thing they're hearing about just pile into bitcoin without even realizing there are alternatives; (2) bitcoin's name recognition means it will get more coverage from futures markets, merchants, whatever, so that the name recognition translates into a real market advantage; (3) something else has recently happened to give bitcoin a real or perceived leg up on others; (4) whatever/profit?
My late entry into LTC at $55 (average) is finally panning out. (This is the forum for patting yourself on the back about being a genius in hindsight, correct? Cool.)
Just wait until @Master-Classter finally comes back.My late entry into LTC at $55 (average) is finally panning out. (This is the forum for patting yourself on the back about being a genius in hindsight, correct? Cool.)