What Do You Want Out Of Altcoins?
I'm not just trying to get into crypto because I want something to occupy my time and burn my money, I've been getting into crypto because this is the future right in front of us. I'm not the most tech literate person and I have a lot to learn but as I look into altcoins I want to treat as investments and good forms of liquid assets, here are the things I'm looking for.
I want it to be fast
I think everyone has been in an awkward situation where there Bitcoin transfers take a little while to verify and arrive to the end user. This is the ultimate reason for Bitcoins little brother Litecoin and the eventually massive schism with its faster, cheaper twin Bitcoin Cash. As a consumer, I want my crypto to act as cash, immediate and fast as we have gotten used to in this right-here-right-now age.
I want to survive the war on cash
The Globalists have been moving into their war on cash for decades now, so this way they have a 100% control of the money supply but also eliminate any and all financial privacy. I need my crypto to be fast but also be as anonymous in their transfers as possible, this is why I have become a fan of Monero (there is a reason I didn't mention Dash, which I'll get to later).
I want low to no transfer fees
Seriously, limited to none, and users want to know what they are getting into. Ethereum, Litecoin fees are always pretty cheap and Dash is sometimes none. We shouldn't have to be charged like crazy just to use our money
I want to have a fair system for minors
What I like about Monero and Vertcoin is that their ability to mine is simple but also won't shorthand the minors, even ensuring a capped reward for inflation. This prevents massive market manipulation and allows more minors to work to ensure the chain is at its best.
I want to know where the coins are
Alright, Dash- they have millions of coins being held somewhere secretly. How is anyone supposed to feel comfortable knowing that any minute a massive market dump won't render their entire Dash holdings worthless. And the Treasury, I know they sponsor projects that appear to be libertarian and humanitarian in nature but what about the day they put Dash towards something I disagree with immensely? Its not even the lesser privacy ability that bugs me, Dash just doesn't make me feel very confident, which is why I liquidated all my Dash recently.
It has to have a decent app
Seriously, if you can't get your app together I'm not even taking the extra step with you.
It needs to be trusted in wider markets
No coin has been able to achieve this yet but I pray for the day I can walk into any major outlet store and buy with crypto.
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Remso, one more thing all financial markets need, Liquidity. The crypto’s that will win will have a huge base of users, as well as an infustructure of buyers and traders, so if you want in and out of the market there is liquidity to do it. If there is no liquidity you get what happened to Coinbase last year multiple times, the buying and selling were going crazy, and they had to freeze sales. It may have been because theycould not keep up with demand, but it exposed weakness, which forced the price down. If in the back of your mind you are worried you cant sell when its high, your gonna sell earlier. When everyone has that in the back of their mind, as soon as there is a small swing up, everyone dumps, and the price shoots down again.
This is why i dont mess around with any alt-coins except Etherium and Bitcoin Cash. I may be loosing out, but liquidity is their biggest issue.
You're right, I didn't consider that prior to writing this but that is a big factor that needs to be addressed in future posts related to this topic.
You're right, I didn't consider that prior to writing this but that is a big factor that needs to be addressed in future posts related to this topic.
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I personally like Dash a lot (Litecoin too because of the speed and low fees).
While Dash has some centralization they have a solid voting structure that should filter out projects that are not in the best interests of its holders.
Could you elaborate on the million+ Dash being held out there somewhere? I'd like to read about it.
Hey @jdh7190 here is one of the videos I saw where the host did some pretty good research as to why he's staying away from Dash.
Also, looking at your profile I think you'd be a great fit for our Libertarian Facebook upvote club if you'd be interested https://www.facebook.com/groups/382038108977071/
Awesome, thanks for the reply. I did join it, posting my Steemit account.
Just approved you! Welcome to the club!