Altcoin recommendations? \ stacker news ~bitcoin

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221 sats \ 14 comments \ @lipinip235 22 Aug 2022 bitcoin

I'm already interested in SOL since it has some interesting projects ahead and ATOM because it has a good staking APY, do you have some more recommended altcoins to acquire? I've seen some comments about XTZ and ADA, but I'm not sure they're good candidates. Which altcoins do you stack and why?

NOTE: I already stack sats, so kindly avoid maxi remarks.

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26 sats \ 0 replies \ @teco 22 Aug 2022

You can look for options here

https://coinmarketcrap.co/

Seriously though, I don't think you will get lots of input in a bitcoin underground site

26 sats \ 0 replies \ @DarthCoin 22 Aug 2022

ANYTHING that is not bitcoin is a shitcoin. Shitcoining is a capital SIN.

21 sats \ 0 replies \ @kilianbuhn 22 Aug 2022

No shitcoins, never.

Maybe for research and entertainment/interest. But not a good financial decision.

Winner takes it all and the Winner is Bitcoin. None of the shitcoins solve something that has to be decentralized and that cannot be solved on Lightning.

10 sats \ 2 replies \ @moneroshill 22 Aug 2022

Look into monero or zcoin. The current wave of investors massively underestimates the importance of privacy and usability, which will be necessary for mass-adoption of cryptocurrency. Make sure to practice self-custody of your coins.

0 sats \ 1 reply \ @lipinip235 OP 22 Aug 2022

Thank you for the useful reply. I'm aware of monero but can't say I've heard of zcoin. I'll check it out. Have you heard about FLUX? The fact about running my own node for rewards seems appealing.

0 sats \ 0 replies \ @moneroshill 22 Aug 2022

I haven't heard about that, no. But it sounds sort of like filecoin in the sense that that you rent out your computing power. Seems very complicated, I'll look into it.

0 sats \ 0 replies \ @Ge 23 Aug 2022

...Obviously you posted this for attention im sure theres some cool SOL group u could go join....your speculating on tech thats broken...and or doesn't exist and is just hype...learn to denominate in sats and u will see all alts trend to zero in btc.... may u see the light and escape the shitcoin forrest...

0 sats \ 0 replies \ @lv99_slacker 22 Aug 2022

SOL is the one where the validators or whoever DDoS'ed the chain to stop the Phantom wallet exploit, right? Lol. Also, the chain that earlier this year, the internal clock came out of sync and was running 30mins behind real time, yet its consensus is called "proof of history".

0 sats \ 2 replies \ @KingZing 22 Aug 2022

I have no idea why sol gets so much attention, it is possibly the most reckless chain there is, constant downtime and highly centralised.

Staking APY doesn't really matter when volatility is so high, unless you intend to hold it for years. Otherwise that's just an increase in supply emission and diluting the price.

The only three big alts i would consider are Ethereum (big Dev scene, layer 2 projects all improves its utility and value), chainlink (oracle service is crucial for defi) and monero (the biggest privacy coin)

But at the end Bitcoin is like the s&p500 of crypto, chances are you'd better off getting btc and store it safely. Alts come and go, any that has a blockchain centralised nodes is riskier by nature

0 sats \ 1 reply \ @lipinip235 OP 22 Aug 2022

Thank you for your recommendations. Personally I like SOL for the projects they have on their hands, I believe that at some point their issues will stabilize as their ecosystem evolves (or maybe they won't, who knows). About staking, my approach to crypto is to have it until I can use it as is for something, without exchanging it for hard dollars, so holding time is not a constraint for me. I just quickly read about it, but chainlink doesn't have a token or coin, right? So how would you take a stake in it?

0 sats \ 0 replies \ @KingZing 24 Aug 2022

if we do enter a high inflation high interest rate period, we will never see a strong risk on asset growth like we had for the past decades.

This is especially true for crypto, if a strong full risk on bull market is back in a decade, who's to say SOL will be even exist by that time?

At the end whether all these defi stuff requires a blockchain tech at all is questionable, take a look at DAG technology which is extremely scalable and gas free essentially. Projects are duplicatable and can be migrated easily.

Crypto is a hyper competitive market with extreme speculations, every chain fight for devs and liquidity. There's a reason why Bitcoin makes so much more sense to invest in, it has no competition, it can outlast governments, the community including here on stacker news make sure it can last.

btw, Chainlink does have a token, it's LINK. Horrible performance, but oracle is pretty much essential to all defi services.

0 sats \ 0 replies \ @F 22 Aug 2022

Bitcoin is a good altcoin

0 sats \ 0 replies \ @gor 22 Aug 2022

Altcoins are scams

0 sats \ 0 replies \ @nerd2ninja 22 Aug 2022

Sol is a server, just use Azure or AWS. There's no point in using Sol. Atom's staking APY (as with all staking) comes from pure inflation, it is not an actual return, but rather, at best, it is an increase in capital stock which is best known to stock traders as a sign of financial woes a company is having. What the fuck is XTZ. I swear shitcoiners keep coming up with new shit that does nothing innovative, pour money into it, and expect the world to start using it for some reason. Why would people use some of this stuff dude?