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Topic: A warning about Alt-Coins - page 108. (Read 901725 times)

newbie
Activity: 30
Merit: 0
September 20, 2013, 02:44:47 PM
First Post!

What are Alt-Coins??


Alternate cryptocurrencies - bitcoin alternatives

Check out this list for starters: https://bitcointalksearch.org/topic/list-of-all-cryptocoins-134179
newbie
Activity: 1
Merit: 0
September 20, 2013, 08:02:08 AM
First Post!

What are Alt-Coins??
newbie
Activity: 30
Merit: 0
September 19, 2013, 03:40:15 PM
First post... YAY!

These are the few Script coins that I think have merit just from reading around. Feel free to counter or enlighten:
LTC (simply because it's the original scrypt), FTC (active devs & good community though having to recover a bit), NVC (PoS)

Not really scrypt but Primecoin (different twist, kind interesting)

Maybe I missed some, but the rest seem like pump and dump coins to me. I was having fun mining Alphacoins because I could get hundreds of them really fast, but that price dropped way off. Now I'm just mining at middlecoin and that seems to be going alright.
hero member
Activity: 511
Merit: 500
Hempire Loading...
September 19, 2013, 01:36:46 PM
Alt coins are quickly becoming useless as the last few months price trend has shown. Novelty? Yes. Anything worth really mining.. not really unless you sell every single coin asap.


I'd have to agree...trading is where it's at now.  Most miners will not see much of a ROI...it's the shovel sellers that are profiting now.
full member
Activity: 224
Merit: 100
September 19, 2013, 01:32:55 PM
Alt coins are quickly becoming useless as the last few months price trend has shown. Novelty? Yes. Anything worth really mining.. not really unless you sell every single coin asap.
hero member
Activity: 511
Merit: 500
Hempire Loading...
September 19, 2013, 01:28:14 PM
Which alt coins can be mined with block erupters? 

Anything SHA-256 is an ASIC mine-able coin.

http://www.coinchoose.com
newbie
Activity: 12
Merit: 0
September 18, 2013, 02:59:22 PM
Some one economist write: If you want to earn money in crisis time you should to buy stock of most powerful company in crisis branch of the economy.
So only BTS will alive in bad time for peer to peer money.
newbie
Activity: 2
Merit: 0
September 18, 2013, 11:22:21 AM
Which alt coins can be mined with block erupters? 
member
Activity: 173
Merit: 10
September 18, 2013, 04:15:50 AM
I am currently experiment with 17 or 18 alt coins not counting ltc and obviously not counting btc.  There is potential for quite a few of them to stick around for a while but be a lower cost currency in general.  The more I play with the various alt coins the more I am starting to see potential in several of them of staying around but being say change compared to bills, obviously really amazing new concept coins with interesting features have the potential to shift into more of mainstream coin if it gets enough people interested in their concept early on.  There no telling what could happen if somebody came along with a whole new form of cryptocurrencies with some additional basic but useful and creative features built into the wallet itself.
newbie
Activity: 2
Merit: 0
September 17, 2013, 09:47:04 PM
Although not actually an "alt", I prefer XRP.
With a name like that, i imagine you would.  Dodgy as hell.
hero member
Activity: 532
Merit: 500
Currently held as collateral by monbux
September 17, 2013, 05:38:13 PM
https://bitcointalksearch.org/topic/list-of-all-cryptocoins-134179

Although a bit subjective to the OPs own opinions on each coin, this is a pretty good starting point if you want to learn about some of the different altcoins.

Thanks for that useful thread! I have been debating on weather to trust ANY Alt-coin.
hero member
Activity: 546
Merit: 500
September 17, 2013, 07:48:38 AM
https://bitcointalksearch.org/topic/list-of-all-cryptocoins-134179

Although a bit subjective to the OPs own opinions on each coin, this is a pretty good starting point if you want to learn about some of the different altcoins.
newbie
Activity: 2
Merit: 0
September 17, 2013, 06:13:08 AM
Whats the best among the rest...

NovaCoin of coz.
newbie
Activity: 12
Merit: 0
September 16, 2013, 09:51:48 AM
Almost all of the alt-coins out there are going to be a waste of time.  They're being created to take advantage of people who get super excited about different things and then get pumped and dumped.

Be careful about wasting time with too many alt coins.

Be careful about downloading files, seems like there's plenty of wallet stealers around hidden as alt coin miners.
Seen some more of this recently, so wanted to highlight the point.

Here's some good info from later in the thread:
1) Don't just trust the status of a member, anyone can write 500 posts and be a hero member in a short period. This just means that he invested some time on his membership. He can always decide that a profitable scam will be a good payment for his time.
2) Never deal with anyone without doing a search in the forum with his nickname, in order to check if he has scam accusations.
3) Ask for his coin address and always search it on blockchain.info or www.cryptocoinexplorer.com to verify if his address has the amounts he is claiming.
4) Be very suspicious about proposals well under market price or if he accepts your proposal under market price with no negotiation.
5) Look for the reputation of the member (his successful trades, in the form of vouches from the other party on the deal).
6) Even if he has some reputation, never send all the money in one transfer: send one first very small tranche (0.1 btc might be a good start) and wait for his payment. Send a second little higher tranche and wait again, etc. Small increments, because he might decide to pay you the first and second, to scam a bigger tranche. Always suspect if he doesn't accept to trade in small tranches.
7) If he has no reputation (including most cases when he is a newbie or a Jr.), even small tranches are a risk. Better use an escrow system, like the one of bitmit.net, or a trusted member, or you might need to send over 10 very small tranches. It can be annoying, but loosing your money will be more.
8] For big amounts always use an escrow system, unless the member has an excellent reputation.

Since this thread is a sticky, I decided to post this here. Any moderator or member feel free to move, copy or improve these rules at will.


Learn
newbie
Activity: 10
Merit: 0
September 16, 2013, 09:04:16 AM
Although not actually an "alt", I prefer XRP.
member
Activity: 83
Merit: 10
September 15, 2013, 07:13:26 PM
There are quite a lot of Alt-coins which are simply rubbish. Don't forget to check the amount of pre-mined coins before you start to mine an altcoin. I like FTC and LTC too.
Ltc is excellent, I mine it too.
legendary
Activity: 1050
Merit: 1007
Live like there is no tomorrow!
September 15, 2013, 05:27:09 PM
There are quite a lot of Alt-coins which are simply rubbish. Don't forget to check the amount of pre-mined coins before you start to mine an altcoin. I like FTC and LTC too.
full member
Activity: 141
Merit: 100
September 15, 2013, 04:32:35 PM
Some alt coins must be worth some effort
legendary
Activity: 924
Merit: 1132
September 15, 2013, 01:48:19 PM

Bitcoin vs. Peercoin
 http://www.youtube.com/watch?v=ZEgj_whkg08

I'd like to know what others think.

I think, "why was short textfile would have fit in post been faster to just read presented slow and wasting video bandwidth?"
I also think "damn all pretentious idiots want people read text while it wiggles."

Proof of stake is good idea.  Make 51% attack much harder.  But video not explain what is nor why better. 


newbie
Activity: 6
Merit: 0
September 15, 2013, 01:42:50 PM
I do kind of like Litecoin too. I mine them with my GPU and i'm probably going to hold onto them for a while.
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