Posted: 5/21/2017 3:50:46 PM EDT
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Which of the current altcoins has the most viability moving forward and why? I am looking to invest a small amount in a few of them to diversify my assets a bit. Thanks in advance.
ETA: I'm also looking for a good place to purchase and store said altcoins. Trying to stay away from Coinbase. |
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right now most if not all the alt coins have been going up.
most of it from speculation. Today they have been taking a dump, but who knows if that is the begining of a correction or if it is just a blip and they move again. I have invested in eth, xrp, str and ntx and doubled my money. actually 2.5 times. But I started 3 weeks ago. lol. If you had put in yesterday, you would have lost about half. I use coinbase for my wallet, and trade in poloniex.com. I might start looking for another place to trade. Also note transfering "money" between coin base and poloniex must be done in eth or bitcoins as they don't do usd transfers. Also, there is a difference between prices. The reason I might look elsewhere is if you are a day trader, they have had a lot of glitches lately that prevented people from executing trades. Mining is specialzed now. unless you build a very specific machine or buy it, you will not be able to mine anything. you could join one of the mining groups that use distributed power and get fractions of an alt coin if you wanted to try that, but going alone means you wasted your time without very powerful machines. |
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ETH.
It's superior to Bitcoin in terms of tech, and it's on a very rapid path to exceed the market cap of BTC. It's the only "alt" coin with an ever growing alliance of legitimate companies interested in the technology. The rest are just wacky attempts to ride the coat tails of BTC. Yes, i own a few. When these lines cross, the news is going to be full of stories talking about the new top coin. Regardless of technological merit, how do you think that will affect their respective values? Attached File |
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hard to believe that right now, eth is about 750x from when it released, and it still apparentlyhas massive potential, even though they regressed to a hard fork because of "user error" in some dumb smart contract. anyway, here we are...
but is there any GAAP involved in cashing out cryptocurrencies? like if 4 years ago I spend about 10K to buy BTC and traded it all for altcoins, and my altcoins now worth a lot more? just long term capital gains at cash-out or what? ETA: it looks like I may not be taxable at all. L.O.L. read the part about a test on if a virtual currency is "convertable" linky |