It's true that there's a huge saturation of alt coins in the market now, which is devaluting a lot of them. It's hard to say which coins will gain in value in the future; sometimes you never know.
Oh yeah....
Topic: A warning about Alt-Coins - page 151. (Read 901727 times)
Oh yeah....
my first post, so "Hello to all" and my first two cents.
After a long time, LTC difficulty rises and BTC/LTC ratio falls into regions where LTC mining is as worth as BTC mining.
At least if you trust www.coinotron.com.
After a long time, LTC difficulty rises and BTC/LTC ratio falls into regions where LTC mining is as worth as BTC mining.
At least if you trust www.coinotron.com.
I love the Scrypt Altcoins, since there will not be any ASICs.
I mined litecoins, chinacoins, bitbars and at the moment i mine Frankos
Unfortunately they are not listed on btc-e or bter.
does anyone know an exchange to trade Frankos?
thx
I mined litecoins, chinacoins, bitbars and at the moment i mine Frankos
Unfortunately they are not listed on btc-e or bter.
does anyone know an exchange to trade Frankos?
thx
Right now only LTC and YAC are worth mining. I am hopeful on YAC because the development was forked after the original developer pulled a Satoshi and the new one is doing a lot of good work with it.
Yacoin, i would say
any alt coins that are worth mining?
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.
tysat, if you believe they are pump and dumps, seriously who do you think is behind it? mtgox? the btc elites? honestly, if someone is pumping and dumping in an organised way, as a means of screwing new investors then the entire alt community should hunt them down
How about starting with /Fontase on twitter.
Small cryptocoins are routinely manipulated. There's no denying that. Just spend a little time on trollbox, which is the epicenter.
It is only a matter of time until we have decentralized crypto exchange network based on a high-bred crypto coin protocol that will allow us to exchange any network accessible crypto coin with a software client.
Of course, such a decentralized exchange would be a currency built with an exchange protocol, similar to ripple, but without all this "trust" stuff. It would be very simple to implement. When a seller is matched with a buyer on the entire network, based on most reasonable offers on both sides, each side of that transaction would send their obligated amounts to the decentralized exchange network itself (ie. global address of the network itself, like having a special bitcoin address for the entire bitcoin network), which would then be distributed by the network out to the person only when both sides have submitted their obligatory amounts as part of the initial agreement. If both sides do not submit within a configured period of time, than any one sided transaction is reversed and the rate at which exchange was agreed at is ignored.
It won't be long and someone will come out with a protocol that allows us to run a global decentralized exchange, so that we can all run a client on our computers in order to exchange between any of the crypto currencies in existence. When that happens, it will become incredibly easy to shift our money between currencies, and for the price of currencies relative to one another to be reliable tracked and not subject to manipulation due to DDOS and dishonest exchange operators (of course, pump and dump will always exist for illiquid currencies).
It also helps for scalability, since the clients of one currency do not have to worry about tracking all the transactions of another currency, so by splitting up the worlds wealth into multiple currencies, it makes the entire flow of wealth throughout the world more efficient. wealth can be transferred between currencies on the exchanges, without the need for any one currency to handle all the data transmissions of any other currency.
what this means for the future is that in fact, if all the worlds wealth is held in crypto-currencies, it will not be held exclusively in bitcoin. It will be distributed accross many currencies. Which is in fact a good thing, because if one crypto currency fails, this does not completely crash the world markets.
I agree with this. I think it's too early though -- Bitcoin is still a BETA program and people are forking it into new code that will NOT be supported.
This is too soon, especially with the glut of spamcoins being created just for the initial pump and dump.
There is a happy balance, but we are not anywhere close.
what this means for the future is that in fact, if all the worlds wealth is held in crypto-currencies, it will not be held exclusively in bitcoin. It will be distributed accross many currencies. Which is in fact a good thing, because if one crypto currency fails, this does not completely crash the world markets.
What I find very interesting about alt-coins, is that they almost directly derive their value relative to bitcoin from the potential earnings that could be obtained from bitcoin network through mining with equivalent hardware that is required to mine the alt-coin. ie. if I can get 5 altcoins in equivilent amount of time as 1 bitcoin with same hardware, then value of altcoin will be 1/5th the value of bitcoin on the exchange, meaning that many of them are really priced identical to bitcoin, and are only cheaper due to the ease of obtaining them through mining since they are newer and hence have lower difficulty levels. ie. price of an altcoin is basically, price it costs to mine or price that mining hardware loses by not chosing to mine bitcoin, but instead the altcoin
There are also many technical hurdles to overcome when trying to implement fundamental changes in the bitcoin protocol that all clients would be required to adapt to, or even the legacy block chain itself. It is sometimes much simpler to achieve innovation by starting up a new currency.
I think alt-coins are great. They are the source for innovation in the crypto coin market. It is kind of ironic that people who are willing to embrace something as innovative as bitcoin, fail to see the importance and innovative potential for Alt coins. As Bitcoin network matures, and bitcoin miners become invested in certain ways of doing things, there grows a substantial resistance to fundamental forms of innovation in the bitcoin network.
Slightly modifying an open source application like QT and slapping a stupid name on it does not make it innovation.
I think alt-coins are great. They are the source for innovation in the crypto coin market. It is kind of ironic that people who are willing to embrace something as innovative as bitcoin, fail to see the importance and innovative potential for Alt coins. As Bitcoin network matures, and bitcoin miners become invested in certain ways of doing things, there grows a substantial resistance to fundamental forms of innovation in the bitcoin network.
99% of altcoins are just attempts from their developers to get some bitcoins for free. They just want to dump their easily mined crap-coins for bitcoins.
Only litecoin has big chance to survive , other altcoins are useless.
Stick to bitcoin and litecoin.
Only litecoin has big chance to survive , other altcoins are useless.
Stick to bitcoin and litecoin.
I've added bitbars to my list of cryptos.
Isnt possible for one man to create ne coin which will be more interesting for all? Is there any other possibility for BTc than to sell it on MTgox/btce or buy drugs?
anyone using NVC?
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