Related Posts
What stock should I buy today??
Hello, I am working in HCL Technologiesas L1 resource my CWL is nagpur but I want to change my working location . It was changed a few months back but they have referred back to nagpur again saying because of some policies so I asked for a project change thought it may be useful for location change, it's been 23 months in my current project I asked for release but my sdm is not willing to release. I cannot travel back to Nagpur vijaywada is my nearest location. Please suggest how I can proceed.
Conversation Starter
Conversation Starter
More Posts
Conversation Starter
11 likes please
Happens in consulting often
Do we have any group for RPA, jobs and skills?
Additional Posts in Everything crypto
In at 1 million TRX @0.50
Think of ethereum as the backbone, your HTML. You then have companies that built products around that platform. Those are altcoins.
No problem :) I love this stuff, and I'm sitting bored at the airport, so thank YOU for asking an interesting question!
And why isn't this a bubble right now?
There are definitely bubbles in crypto because sometimes people issue coins with no real functionality, but investors still buy in on speculation; many of these are for weak concepts or concepts that the founding team never really intends to turn into a legitimate work product. The trick to successfully investing long-term is understanding the fundamental value proposition behind a coin and having trust in the team's ability to fulfill that value proposition.
Other types of altcoins like litecoin aren't based on the value proposition of a dApp, but rather to do "currency exchange" better than bitcoin does. The sole marker of whether these coins will be successful is widespread adoption. Essentially, if bitcoin is analogous to the dollar, litecoin might be analogous to the euro, dogecoin might be analogous to zimbabwe's currency, REP tokens or OMG might be analogous to stock in a company, and ether, as pwc1 mentioned, would be a kind of backbone to tie "stock-like" tokens to "currency-like" tokens. That's a good basic rundown, I think - it can get a little more nuanced when you think about "sidechain" tokens like Ark, but you should save understanding that for another day
No for he most part you have companies that want to build products around that platform, and speculators hoping they do and giving hem a shit ton of money to do it (but few if any real products)
Most of the alt coins exist for pure speculation; the trick is to look through that and find the ones on which useful platforms can be built, meaning they have true value. Ether has a specific type of functionality: it can be exchanged, and it can fuel the deployment of smart contracts within dApps these dApps require more nuanced functionality though, so they often need to issue their own tokens. Example of functionality required by alt coins is voting rights for that specific platform: it wouldn't make sense for all ether holders to have voting rights for one dApp because if they did, there would be no incentive for them to fund the development of dApp. Augur is a cool example that shows why sometimes more nuanced tokens are required. Augur aims to be a decentralized prediction market - essentially a gambling exchange. Holders of REP tokens (short for reputation) are the ones who confirm or deny an outcome - for example, they'll be the ones who confirm the winner of a sports match, and they are incentivized to report honestly in order to get more tokens instead of losing them. Second type of token needed for the same dApp are event-specific tokens, so users can differentiate between gambling on one event vs another. I can't remember what the third type of token for Augur is, but anyways - hope this helps in terms of understanding why sometimes a new coin needs to be issued for a specific functionality within a decentralized application.
Kyber is pretty cool, but I don't really mess with ICOs too much; I'd rather get in a project I'm sure will be good at 6-7 dollars than something at it's super speculative stage even if it's cheaper. Also, I'm broke and don't want to let go of what little ether/bitcoin I have for any old ICO haha
Makes sense. Thanks again. Safe travels
By the way EY1's comments are the best I've read so far in this app.
Haha only because I'm 23 and living in New York, nothing went wrong :) I don't plan on being broke forever. And ah thanks! I've been thinking about putting together some tutorials since a lot of my friends have been asking me about crypto, so that means a lot!!
Please do share the links here even if it uncovers your anonymity. It shouldn't matter.
EY1, thanks for taking the time to write all that out. Very helpful
Ha fair enough. Any ICOs you're looking at?
EY1 can't believe you are broke. What went wrong can you share with us?
Have you been making money on it?