Its Time to Buy Old Alt Coins

A bit about alt coins. I’ll be honest, much of the value of my crypto coin savings is usually in alt coins not bitcoin. I don’t have much money and I’m a risk taker. I’ve invested in coins that both lost and gained 10000% over a few weeks. If you’re not sure what an alt coin is, its a copycat of bitcoin. Someone took bitcoin’s code, changed it around, and started a new decentralized currency. The most famous is Litecoin, its the oldest still functioning copycat coin and has been itself copied many times.

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Bitcoin itself remains considerably more valuable than all the other coins combined yet BTC is an inferior code. Many of the upgrades alt coins offer are technically superior, but that isn’t enough to replace Bitcoin the original in value. Cryptocurrencies exist soley on the concept of value and none has more perceived value than Bitcoin. Value sits at the heart of every decentralized currency. A network of people who all perceive value in one thing will pay fees to have that thing secured and processed. You’ll drop money off at the bank and don’t mind the fees because you’re reasonably sure you’ll get your money back when you need it. With a crypto currency, we’ll pay fees (or suffer inflation) to an anonymous miner somewhere who secures the network processing transactions. But ultimately, if no one sees value in it, there is no money to be made mining it and ultimately it will then lack security. If it lacks security and miners, its value of course drops to nothing. This has happened to many alt coins, even ones older than Litecoin. Someone made a new coin, but something was wrong with it or the community was divided or scammed. People lost interest in buying it, they couldn’t successfully hard fork to fix the problem and remain a community. People then stopped mining it, the network became unsecured, someone probably amassed 90% of supply or the coins were abandoned on exchanges and now no one follows it at all.

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This was intended to be more of an investment tip post than anything. I think the time is right to buy up old alt coins. BTC gets its value from being the oldest, so old equals value. But ultimately, as discussed, a crypto coin only exists if people keep seeing value in it. So release date means nothing. By oldest coins I mean those that have maintained a secure network consistently for years. Namecoin for instance is widely known to be useless as a currency, it would never work for technical reasons. It is nothing more than a well secured novelty, but it remains a top valued coin – I have a whole lot of them myself! Old equals value. Its true because enough people like myself believe it and have continued to believe it for years now about certain coins.

Follow along on CoinMarketCaps.com

Click currency tab and select “filter non-mineable and pre-mined” (this takes out the coins that are not decentralized).

In any of these old coins click the yellow graph on the left. Looking at the larger graph now, select “all” at the top to see the chart from inception.

Litecoin, Namecoin, Novacoin, Primecoin, Infinitecoin, Worldcoin, Megacoin, Quark, Feathercoin, Zetacoin, Anoncoin
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These 10 coins have consistently kept themselves in the top 30 market caps since their inception in 2013. They are the old alt coins that have survived since the early days. Other than these 10 coins there aren’t really any surviving from 2013. You either cling to the top or die completely, but the longer you hold on, the easier it is to stay on top. What is interesting about these coins is the consistency of their graphs in prices against BTC. Above you see some of the 10 old coins priced in BTC and BTC priced in USD. The timelines are pretty much the same by scale. In every graph you’ll see similarities. Bumps around Dec1 2013, another bump this spring. Also a long decline from Late 2013, followed by stabler prices in 2015. Over and over the graphs look the same (except for key moments in a coin’s history). Bitcoin’s price in USD looks like the alt coin’s price in BTC. This means when BTC goes up, the alt coin price against BTC also goes up and vice versa. This also means that if you have alt coins when BTC goes up, the value of what you have in USD will go up exponentially. So if Bitcoin doubles against USD its reasonable to expect Litcoin to double in value against Bitcoin. When this happens people with savings in Bitcoin see it double in USD, but people with Litecoins see their funds quadruple.
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This isn’t mad science either. Look at Bitcoin and Litecoin any day on bitcoinwisdom.com and you can see the 2 coins move in unison. With litecoin being just ever so slightly behind bitcoin- usually, sometimes they reverse. Someone has a whole lot of bitcoin stored up in algorithmic trading computers. The trading is almost instantaneous and programmed to sync the movements.

So how to safely invest in alt coins? haha! can’t be done. But transfer some BTC onto a well established exchange like Cryptsy.com and get some old alt coins now. Download the wallet from the coin’s website hold your funds locally if you don’t trust exchanges to hold your coins. . . .Bitcoin seems to have found a bottom, same can be said for many of the old alt coins. A long decline that stabilized and now doesn’t know what to do. If you believe in Bitcoin and think it will maintain its value and rise, you should have some old alt coins as well, it just makes sense.

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About remistevens

crazy musician type from toronto, philosophy major. work in a museum. . ..
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