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/biz/ - Business & Finance

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2078365 No.2078365 [Reply] [Original]

Are all these coins just illegitimate knockoffs? Humaniq, xby, ltc, etc... do they just get shilled up and then dumped or do they have legit value that separate them from btc in some meaningful way?

I'm asking in earnest, I've read up on the tech somewhat but need a quality bogpost on coin trading to get into it. I have access to free utilities for mining gear and cash to invest but can't get my head around the mechanisms here. What drives this "mooning" of one coin vs another?

>> No.2078390

By no means an expert but so far it's mostly hype aka news and marketing. It's still a niche thing so very volatile and easily influenced by the news

Take the WannaCry attack that caused the huge dip from a couple of days ago.

Same with new announcements and conferences on cryptocoins. Or when an exchange launches support for one coin or another, etc

Following the news, and ironically enough the 4chins, can give good indicators about what's going to go up. ETH went up when coinbase started supporting it, ripple went up when the Japanese government/banks said they were gonna do smth with it. Details don't even matter that much, it's literally just hype, pump, dump

>> No.2078408

>>2078390
>it's literally just hype, pump, dump
So it's just different expressions of the same tech marketed differently? I mean, that's the impression I have but it seems cynical to me so I'm concerned that I'm missing something because I'm still retarded about the whole thing.

>> No.2078427

>>2078408
Oh I haven't bothered to look into the tech so far. I remember some block chain theory from back at uni but I didn't bother yet.
Afaik the base is the same with some variation: people "sell" computing power and get currency in return. I'm assuming there's variations in encryption, handshakes, key exchanges, authentication, volumes, algorithms bla bla
Before I sound too ignorant, I'd read some white papers and technical articles, I highly doubt /biz/ has any meaningful/reliable/objective useful info on the tech

How would knowing the tech influence your decision making tho? I don't think it plays that much into the strength of a coin so far. Especially if the creators don't market it properly

>> No.2078428

Do your own research. To answer your question, LTC and ETH have been adopted by huge corporations and have a lot of potential. This XBY coin that for some reason gets shilled here is a scam, literally every post about XBY that is nog negative in some sort of way is orchestrated, and people are falling for it.

>> No.2078433

>>2078365
Protip: if you see 10 shill threads like in the case of XBY, it's a scam

It's just the same couple of people making tons of threads every day.
Are there any fucking janitors on this board ffs?

>> No.2078437

>>2078428
>i haven't looked into it or researched it so it must be scam

>> No.2078540

>>2078427
>How would knowing the tech influence your decision making tho?
Idk, desu. I'm still trying to understand the system itself, I guess. I haven't used digital currency at all so my only perspective is bad around investing for profit to be converted bank to fiat. Your responses have been helpful, thank you.

>> No.2078541

>>2078540
*built not bad

>> No.2078552

>>2078428
So let's say it is a scam, you would define it that way not because it isn't functional cryptocurrency but because it isn't being properly marketed to achieve success.

Is that accurate?

>> No.2078563

New thread

Get in here

>>2078397