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I need help understanding some things about cryptocurrency to decide which to buy.
>Bitcoins:
The advantages of this compared to credit/debit cards are obvious to me. You hold the money, quasi anonymous, decentralized tracking of transactions which is more secure. Other advantages but these are the main ones coming to mind. I already have bought these.
>Ethereum:
Decentralized apps (Dapps) on a blockchain that uses Ethereum as currency. Basically think cell phone apps, utility payments, internet of things, anything in general. Since Ethereum takes better advantage of the coding capabilities of coins, all these things and transactions can be securely tracked the same way bitcoins are. Things like utility payments and app purchases can be made with ethereum coins as well. The purpose of Ethereum is not to replace Bitcoins, which is trying to replace currency. It is to facilitate Dapps, which I see as very promising. Ethereum run by solid team, already has good support from various companies. I am strongly considering buying these, especially since cheap compared to bitcoins.
>Is it true that there is no cap on the amount of Ethereum? Wouldn't this devalue eventually? Or will the rate of mining just become so small at some point there is a relative cap?
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>>1602555
This is where I get a little more confused:
>"colored coins":
Bitcoins or other crypto currencies which are coded to mean specific things. For example, you can code a bunch of coins to be used for a specific purpose. Or you can code a coin to represent ownership of your car.
> In the car example, wouldn't you just choose the smallest value possible for the token coin? Why would you make token be worth money and car ownership?
Waves: Ok I am mainly confused by this one. Apparently the purpose is to be a token to represent anything like stocks, property ownership, real money etc.
>I think one difference from other colored coins that waves likes to point out is that waves can represent fiat money? But what stops any coin (including bitcoin) from also just representing US dollars if is capable of representing car ownership?
>what are other differences from other colored coins? Just ease of coding?
>What is the purpose of investing in wave coins? Aren't wave coins just the tokens? Shouldn't the value of the tokens be low so that they just represent a transaction fee?
There would be no advantage to speculating on wavecoins if that was the case. Anyway, as far as I can see, the waves team is qualified but they do a lot of hand waving on the explanations, especially in regards to how they plan on legally binding transactions. At the moment with my limited understanding, it does not seem worth purchasing.
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Tl;dr Buy as much Bitcoin as you can and hold long term if you want to get rich.
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>>1602643
I agree, but if you have less than 1 BTC then just get out of the game or try to multiple it with something like this dice game: https://primedice.com/?c=adb4dz
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>>1602555
>Is it true that there is no cap on the amount of Ethereum? Wouldn't this devalue eventually? Or will the rate of mining just become so small at some point there is a relative cap?
Ethereum's inflation model is a disinflationary one which means inflation is fixed and as a percentage decreases over time and approaches zero.
Writing any kind of program on top of Bitcoin's protocol is completely impractical from a developer's point of view.
https://www.reddit.com/r/ethereum/comments/5b5g7v/potential_future_feature_in_ethereum/d9mexq6/
The only people that hold Bitcoin at this stage are technically clueless mouthbreathers who think shitposting will protect their "investment" and the Chinese because language barriers are hard.
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>>1602555
everything that isnt BTC is a shitcoin, just ride and profit the pumps.. saves you alot of headache doing research
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