like any other "commodity". You buy it, sit and wait.
Do we need a black based alt coin?
- Thread starter Warren Moon
- Start date
heisenburrr
Have Fun Staying Poor
I support the only legitimate coin and the one with the most chances to succeed. Of course you can make money pumping altcoins, but if you're in it for the long haul, bitcoin is the only coin that matters.
Dumbest thing I've ever heard. Obviously you know nothing about how currency and better yet alt coins work. 1. You make way more mining coins then buying and saling espicially off of coinbase hese a analysis on the 1st page of reddit http://www.reddit.com/r/BitcoinMark...t_by_bits_miningcost_analysis_is_wrong_heres/ and thats reditt ppl not really in the game. 2. no one makes legit money holding and selling through exchanges again I'll point you towards reddit. http://www.reddit.com/r/BitcoinMark..._prevalent_are_dark_pools_in_bitcoin_trading/ 3. Once you you have actually identified yourself with how altcoins work, bump this thread so we can involve more coli brethen.
"Black" people dont even work together on favourable things that could help them out, what makes you think making a "blacks only" altcoin would even work. You cant even get general people to have in any faith in Dogecoin. I see what youre trying to do but it wont work in my opinion. Just tell folks about BTC and keep it moving if they wanna be part of things then they will.
heisenburrr
Have Fun Staying Poor
You are not making any sense.
The real money is in Bitcoin. Are you trying to say that people haven't made money buying and holding Bitcoins?
Altcoins are 99% pump and dump scam. Buying bitcoins is the safest investement one can make in the cryptocurrency field.
Read my other post, money flows toward the most liquid markets. A coin that can be used by everyone is worth much more than multiple coins essentially diluting the market's capital. There is little to no liquidity in altcoins, you can't buy anything with altcoins, there is no advantages to using altcoins.
Dude below says you cant make any money off dodge though its like a 20 mil market cap . The thing is the whole basis of bitcoin or any alt coin with value started with convos like this and then nikkas went out and promoted it. Why is it so hard for ppl to imagine we cant do that in our community?
Bitcoin for YEARS was a pump and dump scam, then ppl believed in it; the euro for 2-5 years was a pump and dump http://www.oanda.com/currency/historical-rates/ currency in itself is a pump and dump thats why they have forex traders.. Which in turn is liquidity so why is so hard to start a coin to be backed and believed by us breh? If you honestly think in 10-15 years from now bitcoin will be the only player, you're not naive you're just stupid
heisenburrr
Have Fun Staying Poor
I NEVER said you can't make money off alt. What I'm saying is these profits will be shortlived.
Don't you understand there is no reasons for altcoins to exist if they can't differentiate themselves from Bitcoin. Sure you can profit from a couple of runs and couple of pumps. But at one point you will want, if you are smart, to invest your money in the most liquid market. Bitcoin profits from its first mover advantage in that respect and its network effect is simply too big for altcoins to catch up. At this point, there are powerful and rich entrenched interests that will make sure Bitcoin comes out on top.
WHY should ANYONE use your black community backed coin and not Bitcoin? What advantages are there? What mining model will your coin adopt? A premine type scam like all the altcoins out there that exist only to make their creators rich?
It seems to me you are not doing your black brothers any favor by suggesting to have them invest in a coin that has no attractive features other than being the "black people" coin.
You really need to understand the importance of the network effect. I dislike to compare bitcoins to social medias or whatnot because it is a very shaky analogy but what you are suggesting is akin to saying : "Let's start the african-american Facebook, or let's start the african-american Internet"
Last edited:
Im not saying that, but youre naive to think black folks are suddenly going to come together on pioneering their own crypto currency when we cant even get together on simple political situations or local problems,
observe
Banned
whats the point of starting an african american currensy..bitcoin is universal and can change the world as we know it. a african american digital currency would have minor effects compared to the global change that bitcoin can do
Every argument you havve used, has been said by every african american who didnt believe in african american backed business. Am I wrong or not?
Where you can buy bitcoins?
Bc ppl are viewing bitcoin as an end all be all and not understanding the basis of alt coins in general.
For example you have the dollar which can be used in 60% of places but ppl dont use the dollar bc its not prevalent in 40% of places. Does that not make the dollar valid and the most used, no? It just gives the opportunity for other currencies to establish their own trust system of whats that's worth. Like the yen, the euro etc. Another altcoin gives us the basis of establishing our own system. Idk why nikkas cant comprehend that. Im not saying bitcoin wont be number 1 but Im saying why cant we do our own just bc something else is number 1?
heisenburrr
Have Fun Staying Poor
heisenburrr
Have Fun Staying Poor
Because Bitcoin is GLOBAL. There are no barriers of entry. No state specific regulations. The are many reasons why there exists different fiat currencies depending on the region people live but that has nothing to do with Bitcoins and alt-coins. Bitcoin can be used in 100% of places so why bother with an altcoin that can be used in 10% of places.
Take a couple minutes of your time to read this article and it will become CLEAR to you why there is no use for altcoins that serve the same purpose as bitcoin.
http://blog.oleganza.com/post/54121516413/the-universe-wants-one-money