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What Are the Best Bitcoin Alternatives?

IMPORTANT: This position should not be construed as investment advice. The author focuses on the best coins not from a financial or investment point of view, but from a practical use and adoption point of view.

By Bhagirath RoyPublished about a year ago 6 min read
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What Are the Best Bitcoin Alternatives?
Photo by Traxer on Unsplash

Almost every piece or chip made an incredible profit. As the saying goes, “a rising tide throws all ships away”, the second half of 2017 was devastatingly flooded. Rising prices have created a positive feedback cycle that attracts more funds to cryptocurrencies. Unfortunately, but inevitably, this burgeoning market leads to huge investments. Funds have been haphazardly poured into all sorts of questionable projects, many of which never materialize.

In the current bearish environment, hype and greed have given way to critical judgment and caution. Marketing promises, endless shillings and charismatic oratorios are no longer enough, especially for those who have lost their money. Now, the basic reasons for buying or holding coins come first again.

Fundamental Factors When Valuing Cryptocurrencies -

There are some factors that tend to overcome the hype and price increases, at least in the long run.

Adoption Angle

No surprise users, they are just dead projects. It is often forgotten that widespread acceptance is an essential feature of money. In fact, it is estimated that over 90% of Bitcoin's value depends on the number of users.

Adoption of fiat currency is mandated by the state, but adoption of virtual currency is purely voluntary

Many factors go into deciding whether to accept a coin, but perhaps the most important consideration is the likelihood that others will accept the coin.

Security

Decentralization is integral to the I-Push model of a true cryptocurrency. Without decentralization, it's a little closer to a Ponzi scheme than a true cryptocurrency. Trust in individuals and institutions is a problem that cryptocurrencies seek to solve.

If the dismantling of coins or central controllers could alter transaction records, their underlying security would be questioned. The same goes for unproven pieces of code that haven't been thoroughly tested over the years. The more you can trust your code to work as described, regardless of human influence, the more secure your coin will be.

Innovation

Valid Coins strives to improve technology, but never sacrifices security. True technological progress is rare because it requires a lot of know-how and wisdom. There are always fresh ideas to tweak, but pointing out weaknesses or criticisms of the coin's original purpose misses the point.

Innovation can be a difficult factor to evaluate, especially for non-technical users. However, if the currency code is stagnant or does not receive updates that address important issues, it may indicate weak ideas and motivation from the developers.

Incentives

The economic incentives inherent in a currency are easy to understand for the average person. If the coin has had a large pre-mining or ICO (Initial Part Offer), it is clear that the primary motivation is profit if the team held a significant share of the chips. You can play and enrich your game by purchasing what the team has to offer

to Be sure to provide tangible and credible value.

5 Cryptocurrencies to Buy in 2018

There has never been a better time to re-evaluate and rebalance your crypto portfolio. Based on solid foundations, here are 5 trucks worth keeping, or perhaps worth buying at their current low prices (this is just a warning, prices may drop).

#1. Bitcoin (due to decentralization)

Number 1 belongs to Bitcoin (BTC) and continues to be the leader in all categories. Bitcoin has the highest price, the most widely adopted, the most secure (due to the tremendous energy consumption of Bitcoin mining), the most famous brand identity (a fork tries to be reasonable), The most active and rational development. It is also the only product represented to date on traditional markets in the form of Bitcoin futures traded on his CME and OBOE in the United States.

Bitcoin remains the main engine. The performance of all other parts is highly correlated with Bitcoin's performance. My personal hope is that the gap between Bitcoin and most if not all others will widen.

Bitcoin has some promising innovations in its pipeline. Yes, and will be installed soon as an additional layer or soft fork. Examples include flash systems (LN), trees, Schnook signatures,

In particular, we plan to open a new set of applications for Bitcoin to enable large-scale microtransactions and instant and secure withdrawals. LN is becoming more and more stable as users test different possibilities with real Bitcoin. It is easier to use, and you can expect great benefits from the adoption of Bitcoin.

#2

Litecoin (for persistence)

Litecoin (LTC) is a clone of Bitcoin with a different hashing algorithm. Though Litecoin no longer has Bitcoin's anonymity technology, a startling report shows that his Litecoin adoption in the dark market is now second only to Bitcoin. This may be due to the longevity of Litecoin, which was launched in late 2011, despite being a currency that I believe is more suitable for obtaining illicit goods and services.

Another factor in favor of Litecoin is the integration of Bitcoin Segway technology. This means Litecoin is his LN counterpart. Litecoin can benefit from the exchange of atomic chains. In other words, it enables secure peer-to-peer trading of currencies without the involvement of third parties (i.e. exchanges). Synchronizing most of the code with Bitcoin allows Litecoin to benefit from Bitcoin's technological advancements.

#3. Ethereum (due to smart contracts)

Ethereum (ETH) currently has some major problems. First, the government will crack down on her ICO. Not surprisingly, many ICO have turned out to be fraudulent or bankrupt. ICO enthusiasts have brought a lot of value to Ethereum in recent years, as most ICO run on the Ethereum network as ERC tokens20. With proper rules in place to protect investors, the Ethereum project scammers can claim legitimacy as a crowdfunding platform for her.

His second major problem facing Ethereum is the slow transition to new hybrid working and battery detection systems.

Ethereum mining GPUs are currently profitable, but Bitmain just announced an Ethereum ASIC Minor, which may impact GPU miner earnings. It remains to be seen if this will change captives and how successful this change will be.

Ethereum has shown great resilience if it can survive his two major problems of regulation and mining. Otherwise, several competing currencies are in the shadows, including Ethereum Classic (and others), Cardano (ADA), and EOS.

#4. Icon (for anonymity)

Dark market launch is not what you'd expect, but I (XMR) remains prime minister's privacy. Its reputation and market capitalization still outpace its peers, and for good reason. His

code for

Icon was less reliable than the Z cash key ceremony, and unlike Dash, he got off to a fair start. Monera's recent change of authority to prevent the development of his small ASIC for algorithms confirms its commitment to decentralizing mining. The significant drop in hash rate was due to newer versions being consistently reported against his ASIC. This could also be an opportunity for GPUs and even smaller CPUs to check in on me. The new version of Monera, 0.12, also includes other improvements that show that Monera continues to grow along its delicate lines.

# 5. Pronto (A Decentralized Incubation Platform)

Pronto is his Ethereum chain incubation platform for investors looking for a safe and reliable platform to invest in new ideas and future innovators. They can present their ideas and get input from users and experts. Implement derived ideas

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