Mark Cuban Billionaire wants to invest in Bitcoin competitor

[CryptO]

https://twitter.com/mcuban/status/403916745900978176

I'm placing my bets on Goldcoin; it's young, its faster than both Bitcoin and Litecoin and it has the best name imo.

This sector is going to become ULTRA competitive.

Potentially worth trillions and may well produce the worlds first trillionaire.

 

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[exige]

I tend to want to agree with one of the responders to his tweet - find a currency where one user doesn't control a huge amount of it. I'm not sure if one exists yet - aren't all the altcoin competitors based on the same codebase/algorithm?

It seems to be a race to get a coin to take off where you have pre-mined a ton of it like with goldcoin. Do your due diligence when it comes to goldcoin.

 

[CryptO]

I tend to want to agree with one of the responders to his tweet - find a currency where one user doesn't control a huge amount of it. I'm not sure if one exists yet - aren't all the altcoin competitors based on the same codebase/algorithm?

It seems to be a race to get a coin to take off where you have pre-mined a ton of it like with goldcoin. Do your due diligence when it comes to goldcoin.

I agree that people who own huge amounts of a certain coin have a large advantage. Some see this as being a pyramid scheme. However these people are taking risks in getting the coin mainstream.

The solution to your problem of having too many pre mined coins would be to have them issued in a smaller amount per blocksize to start with. However, when a coin is starting it has zero value (goldcoin after a few months is about $0.007 atm). So if you only have a very small number of coins to begin with it is very hard to make enough noise to get the coin "out there".

 

[whiteeclipse]

Too many companies now in this sector, I feel a bubble is coming. It should really be linked to a stable safe currency like the Canadian dollar or Australian dollar.

 

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[nzerinto]

Litecoin is about to hit $1 billion market cap. Still dwarfed by Bitcoin's $13 billion, but looks like investors are already speaking with their $$