(Altcoin Scalping) - 01. Pemahaman Dasar Altcoins

Summary

In this module, Alesting from Crypto Academy introduces altcoin scalping, providing an overview of altcoins, their history, and their different functions such as payment tools, stablecoins, utility tokens, and governance coins. He explains how altcoins emerged with Namecoin in 2011 and how they provide more trading opportunities compared to Bitcoin. The video outlines the advantages of trading altcoins, such as offering alternatives when Bitcoin is stagnant, potential for higher profits, and enhancing trading skills. Alesting encourages viewers to explore altcoins for a more diversified and engaging trading experience.

Takeaways

• 😀 Altcoins are alternative cryptocurrencies to Bitcoin and can be used for investment or speculation.
• 😀 The first altcoin, Namecoin, was launched in 2011, followed by Litecoin (LTC) in the same year.
• 😀 Altcoins have multiple functions, including payments, stablecoins, utility, and governance coins.
• 😀 Altcoins are often used for decentralized finance (DeFi) applications, enabling peer-to-peer transactions without banks.
• 😀 Stablecoins, like USDT, USDC, and USD, are altcoins designed to reduce volatility by pegging their value to stable assets like the dollar or gold.
• 😀 Altcoins with smart contract functionality can be used to build decentralized applications, finance tools, and games.
• 😀 Governance coins are used for voting within decentralized autonomous organizations (DAOs) for decision-making on project directions.
• 😀 Bitcoin dominance fluctuates around 50-51%, with altcoins sometimes showing higher growth in certain market conditions.
• 😀 The altcoin market offers variety for traders, particularly when Bitcoin is stagnant or the market shows low volatility.
• 😀 Altcoin trading provides opportunities for greater profits due to their smaller market caps, which are more responsive to market movements compared to Bitcoin.
• 😀 Trading altcoins helps improve trading skills, broadens a trader’s knowledge of different strategies, and increases the time spent in the market, which contributes to gaining more experience.

Q & A

What are altcoins?

Altcoins, short for alternative coins, are cryptocurrencies other than Bitcoin. They serve as investment tools or assets for speculation, such as trading with strategies like scalping.

When did altcoins first appear and which was the first altcoin?

Altcoins first appeared in 2011, with the first being Namecoin. It was followed by Litecoin (LTC) in the same year.

What was the primary function of Namecoin?

Namecoin was designed to provide decentralized domain services, offering an alternative to traditional centralized domain management.

How do altcoins function as payment tools?

Altcoins can be used for various payments in decentralized finance (DeFi), like buying goods or services (e.g., cars, coffee). However, their use is constrained by country regulations regarding cryptocurrency transactions.

What is a stablecoin, and how does it function?

A stablecoin is a type of altcoin that is designed to maintain a stable value, typically pegged to a currency like the US Dollar or commodities like gold. It is used to avoid the price volatility that characterizes other cryptocurrencies.

What are some examples of altcoins used for utility purposes?

Altcoins like Ethereum, which support smart contracts, are used for utility purposes. These altcoins can be applied in finance tools, tokenization, and even blockchain-based games.

What is the role of altcoins in decentralized autonomous organizations (DAOs)?

Altcoins serve as governance coins within DAOs, allowing holders to participate in decision-making processes regarding the direction of projects or organizations. They act as voting tools in decentralized communities.

How does the market capitalization of altcoins compare to Bitcoin?

Bitcoin generally maintains a market dominance of around 50-51%, whereas altcoins, despite being smaller in market capitalization, can experience significant price movements due to their smaller size and lower liquidity.

What is the concept of the 'flippening' in cryptocurrency?

The 'flippening' refers to the potential event when Ethereum's market capitalization surpasses Bitcoin's, making Ethereum the dominant cryptocurrency in terms of value.

What are some advantages of trading altcoins compared to Bitcoin?

Advantages of altcoin trading include providing variety when Bitcoin markets are stagnant, offering greater profit potential due to smaller market caps, honing a trader's skills by learning new patterns, and increasing trading hours for more experience.