The summer of 2014 is really heating up in the alternative cryptocurrency world. What will the next few months bring for altcoins? We can all agree that, well, nobody is certain.
Read on to see what Keiser had to say about alt investment, maxcoin and the inherent political nature of digital currencies.
The case for altcoins
Keiser suggested that altcoins are a great way for investors to diversify their digital currency performance. He said that he maintains “a diversified portfolio of coins, with bitcoin being the biggest portion”, adding that he believes “alts offer a great way to have exposure to different segments”.
When asked whether or not it is ethical to promote altcoin investment, as large price swings can lead to losses, Keiser offered, “I'm like Warren Buffet. I talk about the coins I myself own including maxcoin”.
The future of maxcoin
Some critics have said that Keiser abandoned maxcoin, leaving its reputation – and price – up to the whims of market movers.
Keiser conceded that the development team was “overwhelmed at the launch”. However, he rejected the idea that the project was a failure and said that things are still going on behind the scenes that could produce some positive results if successful.
Keiser added that he thinks “we'll see a return to the old highs before the end of the year” and that “it’s probably a good buy at these levels”.
Bitcoin still the king
On the other hand, Keiser believes that while altcoins have a role to play, ultimately it is bitcoin that will remain the top digital currency.
Additionally, Keiser said that alts – along with bitcoin – will contribute to the broader, long-term shift away from fiat currencies in favor of digital currencies.
Strange alt of the week
Last week, we looked at several altcoins that celebrated the arrival of the FIFA World Cup. While those didn’t fall into the 'unusual' category per-say, they were notable for the fact that they existed largely to promote a temporary event.
Perhaps these belong to a class of coins unironically dubbed ‘commemorative coins’, and it’s possible that we might see more coins of this nature as important events develop.
With the slogan “Moderately Rare – Conservatively Secure”, cantorcoin has earned this week’s Strange Alt of the Week award.
Notably, cantorcoin’s max supply count is 100,614 coins. According to a development statement posted on CryptoCoinsTable.com, this number representing the “the 10th day of the 6th month of the year 2014”, which is the day of the Republican primary in which Eric Cantor lost his seat in the next Congress, all but forcing him to resign his leadership post.
Furthermore, the developer states that there is no premine, anticipating that the total amount of cantorcoins will be quickly mined and become “a collectible coin”, and adding that any available coins will “disappear quicker [than] water drops on Route 66”.
Images via BitcoinTalk, MaxKeiser.com
Have a tip about a notable happening in the altcoin world? Email CoinDesk at email@example.com.
Disclaimer: This article should not be viewed as an endorsement. Please do your own extensive research before you consider investing in the altcoin space.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.