Quote:
Originally Posted by P1et
What about all the other cryptocurrencies like Dash and Monero? Is it all just hype at this point, or are folks just trying to throw $1K at something in the hopes that it'll turn into a million a year from now?
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Quote:
Originally Posted by xQx
In short: Yes.
There are advantages / disadvantages to each; but BTC is the most popular and the general investors understanding of its advantages / disadvantages / technical design is outstandingly inaccurate.... so investing in Dash because it's technically superior to BTC is like investing in Betamax in the early 80's (or whenever it was neck and neck with VHS - I'm not saying Dash will fail, I'm saying the technical specifications aren't what's driving the price).
People have seen BTC go from $37 to $11,000. Ethereum has gone from $45 to $450 in six months. Dash has gone from $6 to $700. They're just throwing $1,000 into anything else that has some potential and are hoping that one out of 10 of them will go up 100x.
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I read mining Dash is not profitable anymore due to sky rocketed difficulty. Read that people bought D3 miners and they are almost worthless now.