Posted by Rambler | in CryptoCurrency (edited )

This forum needs more content. It's no secret, I'm not into crypto. I missed BTC at $40/USD and was going to 'wait until it went below $40/USD again' before buying it, and watched it go over $1,000 for the first time over the next several months. I also used to receive Bitcoin from a few customers around the same time, but spent it as I would any other currency and bought stuff from TigerDirect or Overstock.com or paid hosting bills with it. I never held it, and if I had, well, I'd be a little better off financially for it today to put it simply.

So, I feel like I missed the big Bitcoin explosion. But with so many other coins, do any offer anything that might prove to contribute to future big growth?

I've recently watched the price of OXEN more than double in the past month or so. My buddy chats me up about THETA often but I know little about it. Both of these seem unique in that they're tied relatively unique networks for content distribution or privacy.

Then you have the Brave pushed BAT. I don't particularly care for Brave, but if you ever get bored check out any Brave browser community online since most of the discussion is about BAT, and not the browser itself. But I get the feeling that any random coin probably has a vocal fan base behind it as well so the observation about BAT is likely meaningless.

Then you have the larger, more known coins. Monero, Litecoin, and Etherum. It seems that Monero is the new standard for actually private transactions and seems to be favored by some over BitCoin.

Anyhow, do any of these (in your opinion) have any chance of being the "next" BitCoin where you may see the price skyrocket in the next 2-5 years?

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BlackWinnerYoshi said ()

I have a feeling that either two of these coins will skyrocket: Monero or BAT(shit). And that depends on whenever people will actually start thinking about privacy, or if they'll just listen to recommendation lists prone to bribes, fanboyism, groupthink, etc. And unless we'll recommend sites like Dig Deeper (tilde.club clear net mirror, Tor v3 mirror, Tor v2 mirror, Freenet mirror, I2P mirror), the second situation will happen, and we really don't want to do that.

But of course, I could be wrong and neither of these coins will blow up, and instead, some other coin will blow up, maybe a completely new one. It's really hard to tell that far in the future. Yes, you can try to figure out which coins might blow up, but that is prone to large margin of errors, so we just have to see what the future will give when we do something about it.

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burnerben said ()

Monero for sure but id also look out for good anon coins as Monero is realistically private but not anon.

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razorsedge said ()

Wow. Thanks. I didn't know that. I thought Monero was one of the few anon coins. Are their other coins that are anonymous?

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burnerben said ()

Not that i know of. But if you find one tell me asap.

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Rambler OP said ()

Good response, thanks for the input. I'm just wanting to put about $20 per week into crypto for savings. I've noticed that a lot of coins you can not buy direct. So my $20 becomes more like $17 after buying and then converting to the coin of choice.

Though my $20 in LTC, converted to Theta is up 30%... but pretending I had a worthwhile amount, not sure how i'd make it useful to me.

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nobody said ()

Let me present here my opition, not strictly related to "coins" about which you are asking. Instead of trying get get a quick buck, have a look at The Bitcoin Standard book. In more general terms it is like planting a tree: "The Best Time to Plant a Tree was 20 Years Ago. The Second-best Time is Now!"

Anytime someone gets interested in "anycoins" my question is: do you intend to run a node for that network during the time you own anything?

Another important thing to realize is that even the second most popular "crypto" tringy (starting with letter E) had a 72 million pre-mine in its genesis block:

$ torsocks ./bitquery.io.sh
curl is /usr/bin/curl
jq is /usr/bin/jq
Timestamp: 1616268327
total=118176381.81876291
premine=72009990.49947998
premine/total = 60.93400%

This means that more than 60% of this "E*" coin were created out of thin air and no real mining costs may be applied to them. Now imagine all that NFT hype… See the source of above-used bitquery.io.sh script at bin.idrix.fr. See also bitquery.io article and feel free to look for the pre-mined transactions in etherscan explorer (or any other which knows about the genesis block on that network).

Live long and prosper!

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boobs said ()

whoever solves the scaling problems will be the "next" bitcoin.

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