Topic: A warning about Alt-Coins - page 139. (Read 901725 times)
So what is the best alt coin to invest in right now?
alt coins is bullshit. Most of then has low exchange rate and profitability is poor.
Not necessarily. As with bitcoins, altcoins are worth what someone is willing to pay for them. Who knows, maybe Paris Hilton will be found to be mining hilt-coins, and all of a sudden everyone will want one.
alt coins is bullshit. Most of then has low exchange rate and profitability is poor.
There are many alternative currencies. Bitcoin has the advantage that it has value in trade online through a growing number of outlets and of course silkroad.
Heh, when tysat talks, I listen 
Lately, I've seen thousands upon thousands of videos with new YouTube accounts just spamming a video about downloading their FREE BITCOIN software,
which was pretty apparent, there are 'open-doors' that lead you into the path of a black loophole willing to claim their new target..
Stay away from downloads as described on YouTube ^ in fact, I can't think of one thing you really
'need' to download other than the official miners softwares found here (eg: bitcoin-qt/bitcoind, cgminer, etc.)
tysat, Can you think of any other reason to download something other than the official mining tools?
Hooray, someone who gets it!
Lately, I've seen thousands upon thousands of videos with new YouTube accounts just spamming a video about downloading their FREE BITCOIN software,
which was pretty apparent, there are 'open-doors' that lead you into the path of a black loophole willing to claim their new target..
Stay away from downloads as described on YouTube ^ in fact, I can't think of one thing you really
'need' to download other than the official miners softwares found here (eg: bitcoin-qt/bitcoind, cgminer, etc.)
tysat, Can you think of any other reason to download something other than the official mining tools?
Tysat is just making some pointers about the industry and where it's going in the crypto-world! Just be wise about how you manage your time. Do not overwhelm yourself with the "lets do it to get rich" with alt-coins. Use your time wisely, and do your research! The second best coin is Litecoin, so in my opinion, if you are going anywhere.. it should be with Litecoin and Bitcoin for now.
Thanks for the post and sharing of the tips to avoid wallet steelers. You are right, be careful of any special downloads or 'get-rich' by downloading something. It's all BS!
Thanks for the post and sharing of the tips to avoid wallet steelers. You are right, be careful of any special downloads or 'get-rich' by downloading something. It's all BS!
Hooray, someone who gets it!
Tysat is just making some pointers about the industry and where it's going in the crypto-world! Just be wise about how you manage your time. Do not overwhelm yourself with the "lets do it to get rich" with alt-coins. Use your time wisely, and do your research! The second best coin is Litecoin, so in my opinion, if you are going anywhere.. it should be with Litecoin and Bitcoin for now.
Thanks for the post and sharing of the tips to avoid wallet steelers. You are right, be careful of any special downloads or 'get-rich' by downloading something. It's all BS!
Thanks for the post and sharing of the tips to avoid wallet steelers. You are right, be careful of any special downloads or 'get-rich' by downloading something. It's all BS!
Hooray, someone who gets it!
Tysat is just making some pointers about the industry and where it's going in the crypto-world! Just be wise about how you manage your time. Do not overwhelm yourself with the "lets do it to get rich" with alt-coins. Use your time wisely, and do your research! The second best coin is Litecoin, so in my opinion, if you are going anywhere.. it should be with Litecoin and Bitcoin for now.
Thanks for the post and sharing of the tips to avoid wallet steelers. You are right, be careful of any special downloads or 'get-rich' by downloading something. It's all BS!
Thanks for the post and sharing of the tips to avoid wallet steelers. You are right, be careful of any special downloads or 'get-rich' by downloading something. It's all BS!
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:
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.
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.
Most Alt coins are completely pointless and just poor replicas of what's already out there with little to no improvement.
And none of them have offered anything in the way of major improvements over BTC.
LTC is an exception, but there is profitability in new alts, pump and dump like FTC? pls tell me if i'm wrong?
Most Alt coins are completely pointless and just poor replicas of what's already out there with little to no improvement.
And none of them have offered anything in the way of major improvements over BTC.
Most Alt coins are completely pointless and just poor replicas of what's already out there with little to no improvement.
And none of them have offered anything in the way of major improvements over BTC.
I recently added a section for pools on my site www.WhereToMine.com - Can anyone recommend a pool (or some) that I should add to the list?
Thanks!
Thanks!
Great site, helps clear some things up profits wise
can a calculator/comparison for the pools be done, just in BTC?
oh, good idea, thanks! I'll work on getting that together.
Almost all of the alt-coins are 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 wasting time with too many alt coins.
I bet thats the kind of thinking many had about Bitcoins in the beginning but look where it is now. I am not bashing you in anyway, I just feel like qualifying your statement. People should really research what their going into because maybe one of the Alt-coins will have a boom like BTC.
I would be interested to hear
which coins more exactly - you think -
will see a boom like Bitcoins ?
Which one(s) is(are) your favorit(s) ?
I recently added a section for pools on my site www.WhereToMine.com - Can anyone recommend a pool (or some) that I should add to the list?
Thanks!
Thanks!
Great site, helps clear some things up profits wise
can a calculator/comparison for the pools be done, just in BTC?
I recently added a section for pools on my site www.WhereToMine.com - Can anyone recommend a pool (or some) that I should add to the list?
Thanks!
Thanks!
interesting site, but several new ones are missing
Thanks! I just set it up last week. Right now, I only have the sources listed from coinchoose but, I can merge in any other sources - I just need to get the APIs
I recently added a section for pools on my site www.WhereToMine.com - Can anyone recommend a pool (or some) that I should add to the list?
Thanks!
Thanks!
Great site, helps clear some things up profits wise
I recently added a section for pools on my site www.WhereToMine.com - Can anyone recommend a pool (or some) that I should add to the list?
Thanks!
Thanks!
interesting site, but several new ones are missing
Thanks for the information
I recently added a section for pools on my site www.WhereToMine.com - Can anyone recommend a pool (or some) that I should add to the list?
Thanks!
Thanks!
my two bitcents say the two coins with the most long term potential is PPCoin and Litecoin which both offer something distinct and of major advantage over btc. its still so early in the game that any crypto currency can have a great chance right now!
I would say infrastructure is a key component to Alt-coin growth...of which LTC is king. With many gambling sites and even the occasional floating city, LTC has the backing of you, the newbie who still wants to ride the elevator from the ground floor. While technically it's a little late for that, it is still fairly early in all of this...and you are lucky to be here.
I am holding bitbar, so I like it, but read up on it and decide for yourself, BTB could become a huge hit worth vast sums, or fall on its face...much like Bitcoin itself.
One I am particularly interested in is Netcoin (the real one being developed by TacoTime...watch out for scam versions on this site which people are trying to capitalize on). It's being announced ahead of time, it has ASIC resistance, and personally, I think the average person can grasp a "netcoin" even more than a "bitcoin"...we are not average on here, so this may seem odd to you...but the average populace has no clue what a bit is, much less a bitcoin...but they all know what the net is. I just have this feeling people will adopt it quickly, and with BTC as our flagship, we are already creating the infrastructure it will run on.
Keep an eye on TacoTime's posts if you want to really get in on the ground floor of something.
I am holding bitbar, so I like it, but read up on it and decide for yourself, BTB could become a huge hit worth vast sums, or fall on its face...much like Bitcoin itself.
One I am particularly interested in is Netcoin (the real one being developed by TacoTime...watch out for scam versions on this site which people are trying to capitalize on). It's being announced ahead of time, it has ASIC resistance, and personally, I think the average person can grasp a "netcoin" even more than a "bitcoin"...we are not average on here, so this may seem odd to you...but the average populace has no clue what a bit is, much less a bitcoin...but they all know what the net is. I just have this feeling people will adopt it quickly, and with BTC as our flagship, we are already creating the infrastructure it will run on.
Keep an eye on TacoTime's posts if you want to really get in on the ground floor of something.
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