Topic: A warning about Alt-Coins - page 146. (Read 901725 times)
on one hand it would be interesting to see how the crypto coin would compete with each other. what i think is important is the idea of decentralised crypto currencies. now that we as a species have come in contact with the concept it would be hard to go back to fiat in the long run. i can even immagine banks will try to make their own crypto coin. to try to compete with the bitcoin. i think the wild west period is far from over.
While it may be true that BTC is the gold standard and most alt-coins are goofy, the marketplace is deciding what each is worth. If I can mine [insert-goofy-name/pizza]-coin and convert it somewhere to BTC then it clearly has value to mine. When chinacoin came out, I thought it might be cool if there was a world-coin...and poof... wdc appeared. Being opensource with fast transaction times makes it very interesting at least...
i think U are apsolutly right!
While it may be true that BTC is the gold standard and most alt-coins are goofy, the marketplace is deciding what each is worth. If I can mine [insert-goofy-name/pizza]-coin and convert it somewhere to BTC then it clearly has value to mine. When chinacoin came out, I thought it might be cool if there was a world-coin...and poof... wdc appeared. Being opensource with fast transaction times makes it very interesting at least...
I'm hopping from mining one altcoin to another. You can at least double your earnings compared to mining litecoin/bitcoin. I follow next steps:
1) I made virtual machine in virtualbox and installed clean windows in it.
2) I waiting some new altcoin to release
3) I make copy of prepared virtual machine and install altcoin wallet on it.
4) Then i point my cgminer to this wallet and mine solo (i have about 3mhash, this is enough for small difficulties). When difficulty is high, but mining is still profitable, i mine in pool.
5) Wait till altcoin is added to any exchange. Wait pump, then sale coins
6) go to step 2
1) I made virtual machine in virtualbox and installed clean windows in it.
2) I waiting some new altcoin to release
3) I make copy of prepared virtual machine and install altcoin wallet on it.
4) Then i point my cgminer to this wallet and mine solo (i have about 3mhash, this is enough for small difficulties). When difficulty is high, but mining is still profitable, i mine in pool.
5) Wait till altcoin is added to any exchange. Wait pump, then sale coins
6) go to step 2
agree
All these alts look dodgy to me !!
Almost all of the alt-coins out there are going to be a waste of time.
This felt like a punch in the face.I wanted to mine Bitcoin, when I first read about it a few months ago.
Realizing the ASIC pipe dream, wasn't going to happen for this latecomer.
Then I stumbled upon YACoin, so far, CPU only mining.
Now I'm mining 3 YACoins a day from the unused power of a VPS.
Building and using YACoin from src teaches me Bitcoin.
ALT Coins boost, the crypto currency community.
I'll take your unwanted YACoins here please:
YAC NO BEGGINER ALLOWED, ADDRESS REMOVED
Someone suggested that Palestine might adopt BTC as a currency - but a commenter replied that Palestine has serious problems with internet coverage. There exists an opportunity therefore for someone to design a crypto-currency that might work in those conditions - maybe it might use the mobile phone network to assist with block chain verfication, or something completely different. Might catch on in parts of Africa, too? Innovative enough???
Any new and _innovative_ altcoins out there?
Litecoin are here to stay
But what is driving the price of LTC down when BTC is so stable to up?
I think that has to do with:
1. The people who run GPU farms, or even the small guy with two GPU's switch from BTC to LTC and back to mine whichever is more profitable.
Because it is the same hardware, with the same cost, it will peg LTC to BTC. Just take a look at BTC/USD and LTC/USD prices over time, they show roughly similar trends.
2. The BTC ASIC era is just getting started and has driven a lot of GPU farms from BTC to LTC, see LTC difficulty graphs. Which was the short term...
3. In the long term, the hardware of choice to mine BTC will obviously be ASIC. Obviously you can't switch over your ASIC farm to LTC when profitability changes. This will losen the bonds between the currencies.
4. Hardware to mine BTC is becomming cheaper than hardware to mine LTC.
Though how the long term will look is a mistery. But I count on a tenfolding of BTC difficulty by the end of the year.
So either the price of BTC/USD will rise to match. $1000+ per BTC, or all GPU miners go to LTC, making it's difficulty rise as a result aswell.
too many alt coins are killing the alt coin idea and market. You could have a great idea for an alt coin and make it better than all the other ones, fix many of the problems with all coins and you wont get it off the ground in this climate.
it's getting hyper retarded
it's getting hyper retarded
I bought 20 ripples @ 4$. Just to test site.
I think digital currency must be controlled or "they" will make it illegal. Therefore i bet on bitcoin. (i hope that one becomes standard. Too many alt-coins kills some of the value of them all?
You can always give me some ripples
NO BEGGING, ADDRESS REMOVED
I think digital currency must be controlled or "they" will make it illegal. Therefore i bet on bitcoin. (i hope that one becomes standard. Too many alt-coins kills some of the value of them all?
You can always give me some ripples
NO BEGGING, ADDRESS REMOVED
Litecoin are here to stay
But what is driving the price of LTC down when BTC is so stable to up?
Litecoin are here to stay
I think everyone here would agree with me in that it's never wise to put all of your eggs in one (BTC) basket. 
/sign
litecoins have their right to exist, because of the different algorithm base.
but nobody needs all these tons of other coins with no technical differences.
litecoin has big chance to survive.
WDC is great now!
I've started mine it now
I've started mine it now
Most Alt coins are completely pointless and just poor replicas of what's already out there with little to no improvement.
yeah. yeah. i thought as you said.
The only altcoin I have any faith in at this time are Litecoins. Litecoins ARE a necessary diversification away from BTC should something bad happen to SHA256 and whatnot
I think everyone here would agree with me in that it's never wise to put all of your eggs in one (BTC) basket.
I think everyone here would agree with me in that it's never wise to put all of your eggs in one (BTC) basket.
What's SHA256?
It's the encryption algorithm that is used to mine bitcoins. Litecoins on the other hand use scrypt algorithm during mining.
For a super sciencey answer try:
https://en.wikipedia.org/wiki/SHA-2
The only altcoin I have any faith in at this time are Litecoins. Litecoins ARE a necessary diversification away from BTC should something bad happen to SHA256 and whatnot
I think everyone here would agree with me in that it's never wise to put all of your eggs in one (BTC) basket.
I think everyone here would agree with me in that it's never wise to put all of your eggs in one (BTC) basket.
What's SHA256?
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