WorldCoin was four times as lucrative as Litecoin for some time too (at least according to CoinChoose).
Only if you managed to sell them at that price. You have to have someone ready and quick enough to undersell all the way down to 0.00000001, unless you plan to hoard them. Can't say I think this is a good strategy for cryptocoins overall. :|
Yeah be really careful with the pump and dump coins.
A lot of times the 'price' is actually a few shills selling to one another at inflated prices to try to sucker some fools into buying at the same price. Actually selling at those prices isn't necessarily easy or even possible (buying, on the other hand, is easy - but dumb).
Right. Its a huge concern going into any alt-coins outside of LTC. At most, I would put maybe 10-20% of hashing power into alt-coins, in the hopes that they'd explode. But even then, I have absolutely no faith in any altcoin outside of MC2/Netcoin when it comes out. When that is out, I plan on putting a lot of hashrate into it.
what benefits does MC2/Netcoin have?
Here's a 31 page thread on it: https://bitcointalk.org/index.php?topic=169204.0
Its going to be its own coin, built from the ground up (not a fork of BTC, LTC, or any other coin).
As per the whitepaper:
- Uses a new approach to secure hashing algorithms for the hash tree of a given block that should increase FPGA/ASIC resistance
- After 27 coin years it employs a system of voting to manipulate the interest rate of the block chain (users act as the central bank and regulate the rate of inflation)
- Difficulty is based on the linear weighted average of the block times for the past 18 days for PoW blocks
- New block reward adjustment algorithm is given that yields an 8% decrease in block reward per year
- Simple PoS design (tried to strip it of as many complexities as possible)
- PoW and PoS systems are designed to happily coexist, with favour slightly given to the PoW system
- PoS system also intended to prevent 51% attacks
- Coloured coins, e.g. for rewarding projects that you create arbitrarily
- Ledger system for regular coins that allows for a lightweight version of the blockchain instead of having to download the entire blockchain
Because of that list, I'm quite interested in it, as its totally outside of what BTC or LTC are, and could be a true competitor/evolution. If we mined it, we'd convert coinage to LTC for users, or held it back for them to distribute via other means. Again, that assumes any bondholder actually wants it. Our fiat investors want it, as do I.