5 Cryptos I Know Nothing About but Would Love to Learn
I've known bitcoin since mid-2012. Damn. I remember trading back at $13 on Mt. Gox. Unfortunately I didn't see the massive rise to over a $100 within just months the next year.
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Since litecoin started in October of 2011, there's been a slew of altcoin software copies of cryptocurrency; reaching to well over 1,000 today. So without further ado, here's the
5 Cryptos I would Love to learn more about.
#1: NEM
Site - Blog - Announcement Post (2014-06-13) - Subreddit r/nem
NEM has rose through the ranks this year to rest at the Top 7th cryptocurrency traded. It literally went from a 1 Million Dollar market cap to 1 Billion Dollars and Over in just 17 months! Just knowing that, there has to be something to it.
Though I first heard about it in 2014, I did not learn much until this year seeing it recommended as a top contender to bitcoin, fighting in the ranks of Dash and Litecoin. Unfortunately everything I learned I have forgot so I must research it at this moment before the next sentence.
FEATURES that Excite Me:
- NEM has zero inflation because the full supply of 9 billion coins was released at launch
- Supposedly energy efficient block reward algorithm (Proof-of-Importance)
- Encrypted messaging system
- Has an API to allow applications to be built on top of it
#2: EOS
Site - Twitter - Announcement Post (2017-05-06) - Subreddit r/eos - Steemit
EOS seemed to come quick. It's steemit blog account started just 3 months ago with an introduction post publishedon May 14th. It took me until July to hear about it.
It launched with a crowd sale which was officially unavailable for United States citizens to purchase. This alone made it interested and I really wanted to look at getting some but still have not. Here's a video to learn more about EOS
FEATURES that Excite Me:
- Platform for Decentralized applications
- Claimed to be the 'Ethereum Killer'
- PLUS it's made by Steem's creator Dan Larimer!
- It launched on ethereum! - That's like if bitcoin was initially sold via paypal, how ironic and triumphant if it overtakes ethereum in the end
#3: Ripple
Site - Dev Blog - WIKI - Subreddit r/Ripple
Ripple is still an enigma to me. It's been around many years (since 2012). I think many hardcore cryptocurrency enthusiasts can relate to me when I say my initial beliefs and gut are telling me ripple is the centralized institutional currency we don't want to mess with. It is anti-bitcoin in terms of freedom; akin to the ECoin* part of the debate for digital currency in the show Mr. Robot.
In Sep 2013 apparently they announced it open source which is interested, as well as some kind of "lock-up" in June this year which I know nothing about. Whether it's 'evil' or not, I would love to know more about it seeing how old it is and how well established. It doesn't look like it's going away anytime soon, that's for sure.
FEATURES that Excite Me:
- Payment protocol that's aged
- Possible 'bad-guy' in the cryptoverse, something to be striving to defeat and overtake
#4: NEO
Site - Blog - Announcement Post (2016-08-01) - Subreddit r/Antshares - White Paper
My #4 pick was a very hard one. My original thought was Monero as it was a privacy oriented coin competing with Dash just a few months ago. Right now it's at the #14 spot. I also was intrigued by many newcomers jumping up recently like Stratis, OmiseGo and IOTA which is worth nearly 3 Billion! IOTA is worth more than Litecoin OR Dash and it's only been trading for months
Since coinmarketcap has tracked its price in September 2016, NEO was trading for less than $2 since until June this year where it shot up 400% to over $10 and eventually around $40 where it stands now. It was originally called Antshares but rebranded as Neo in June which makes sense for the price rise. I'm sure glad they renamed it!
FEATURES that Excite Me:
- Name is awesome
- Rebranding and huge price rise makes it very exciting
- New smart contract system, the 'Chinese Ethereum'
- Support for and plans to implement multiple programming languages
#5: Ethereum
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Honestly I'm embarrassed about this one. I missed the main boat. And then lost (or misplaced?) my small holding during the btce fiasco recently.
Now with blockchain adding ethereum, I'm even more regretful. This is really their first implementation of another cryptocurrency after they started in 2011.
FEATURES that Excite Me:
- Silicon Valley backing
- Enthusiastic fanbase
- It's not a currency but a smart contract platform for applications
That's it!
What do you think: Agree or disagree?
Which cryptocurrencies are you excited about right now?
I bought into NEO when it was about $12. I watched my investment go up past $600 recently. Pretty cool because I didn't even put that much into it.
oh my goodness. It feels like we're in an altcoin bubble again like late 2013 (litecoin rise to $50 and crashed to about $2 within 6 months)
I got a few of this in my shadow portfolio, if you want to have a look, I just posted performance yesterday.
yeah link please?
Sure! Here is the link to last weeks peformance:
https://steemit.com/cryptocurrency/@ghaaspur/week-34-shadow-portfolio-up-6-36
right before mt. gox debacle I almost got bitcoin but it deterred me so I never got it ;(
If you want a trusted site to use for Bitcoin, Ethereum and Litecoin I advise Coinbase. The New York Stock Exchange has invested in Coinbase so you know it's not scammers. They have a great android app, and a reasonable set up process. And a good cold storage wallet is Coinomi. JUST NEVER FORGET YOUR PASSWORD. EVER. Write every password and restoration key down and put it in a secure place just in case. And before you invest in coins it helps to read the white papers that detail what that project is about. On coinmarketcap.com you can see hundreds of coins and their ups and downs and often links to their websites. If you don't want to be on a exchange like coinbase you could use something like changelly. And as always never invest anything you are not prepared to lose.
Steeming Stadex.
Hey @stadex you seem to know your shit. Tell me which is the easiest way to buy the likes of Ethereum. Is there any article you would recommend that is user-friendly and relatively jargon-free. And is coinbase easy to use?
You could go on changelly.com right now and buy ethereum as quickly as you can enter your ethereum wallet address and your credit card details. Coinbase is easy too, but you must first set up a account which doesn't take long, they do want id verification, take good photos of your passport and you should have a verification in a day or so. Also make a small bank transaction to your coinbase account as soon as possible to verifiy your fiat bank account for future investments or exit back to fiat currency ($€£).
Here is a link for the official ethereum project website with more information.
https://www.ethereum.org/
shapeshift.io
you can even hold ether in your blockchain.info wallet
bittrex.com you can also trade there
Just to add some info about Coinbase:
As an alternative, the trusted Kraken. Still a bit slow, no app, but more coins, lower fees (which get lower the more you trade) and reliable.
I would not use coinbase if you value privacy and don't want government taxing you after the fact; see this:
https://steemit.com/bitcoin/@mikeparker/most-bitcoiners-leave-their-bitcoin-at-risk
Right before the Mt. Gox debacle I got bitcoin and then lost it...
I would say neo is more like a ethereum killer than eos :p at least for now
EOS is better, as NEO is just ETH which advance security. But EOS is bridge between different languages different coins and different platform.
ETH and NEO are like linear in development but EOS is multi directional in implementation like a bridge.
Thanks for your opinion. With Steemit.com so innovative I have high hopes for EOS coming from the same man Dan Larimer
interesting
There seems to be so many candidates that deserve more attention these days... I really want to invest broadly, but at the same time a %500 gain just ain't that interesting, if you're only $100 in...
I invested in PIVX and I've made some hundreds, it made me excited cuz it felt like I threw pennies at it. the more you risk, the more potential reward. We could be in another altcoin bubble though. especially after bitcoin fixed its problems. its incredibly bullish to have segwit, but there is potential for bubble it literally is up over 4x in 6 months after many years of already incredible gains.
Watch out for Ripple. It's a Banker-created coin, and it is not mined. They can inflate at will, and any failing bank owning that asset will drop it first when needing to liquidate. And there's plenty of banks fixing to take the plunge.
exactly. I warned about it in my last article here: Ripple is now Even More Suspicious: Bernanke Aligns with Ripple
Thanks for passing that along. Now, with that said, it doesn't mean it won't have legs. I just don't trust it. It has been good for some people riding some of the upticks.
I told my brother to hold onto NEO when it was AntShares and he had a sizable investment when it was ~$1.80-3.50 a piece as I figured the market value was at least ethereum classic level. I didn't expect it to hit it before a least a few more months, let alone well surpass it due to language barriers. I can understand the skepticism at the time though given the limited access to information on it.
Not an investment for weak hands, that's for sure.
way too many cryptos to learn; so many smart programmers out there; but really the world doesn't need so many - i mean they'll compete for a while. like there was myspace, but it faultered and let facebook take its place.
there's only 1 eBay; no one gives a rats butt about other platforms for that much buying/selling worldwide. etsy is like a sliver of the same volume for custom made creations which is its own niche and not the same.
each alt has to find their niche in the coming 5-15 years or fall by the wayside.
Great article. It can definitely be frustrating to miss a huge rise in a cryptocurrency's value, but then again, everything is always clear after the fact. I will be reading more your posts, succinct and information-dense.
thanks. see this comment:
https://steemit.com/cryptocurrency/@mikeparker/5-cryptos-i-know-nothing-about-but-would-love-to-learn#@mikeparker/re-teslalifestyle-re-mikeparker-5-cryptos-i-know-nothing-about-but-would-love-to-learn-20170901t063723762z
I Like How You Did Your Reaserch On All Of These And Came Out With The Important Stuff (Time Saving For Us Readers :)), Also I Have A Few Of These In My Portfolio But Thanks To You I'm Considering Some More Of These :)
great to hear thanks for comment :)
All of them are fine aside from NEO.
Ripple is a centralized scam. It's far from fine.
thats what I talked about in my last article, they're a conundrum, bank supported for sure, bernanke is speaking at their conference!
https://steemit.com/cryptocurrency/@mikeparker/ripple-is-now-even-more-suspicious-bernanke-aligns-with-ripple
Why don't you like NEO?
what's wrong with NEO in your opinion?