So, do people not realize that none of these altcoins are useful? Even YACoin isn't exactly innovative. Anyone who reads through the source could would agree ... not to mention all he did was pluck out regular scrypt and pop in scrypt w/keccak512 and ChaCha20/8. For one, writing an OpenCL kernel for it is not difficult and second using a starting N value of 32 makes it extremely FPGA friendly (which is why the hashrate exploded).
And also do people not understand that almost none of these cryptocoins can be considered actual currency? Until a cryptocoin is used widely enough to exhange for goods and services, it's just a digital commodity not a currency. Bitcoin can be considered a currency and Litecoin seems to be making its way there. But pretty much every other coin cannot be used to buy a good or service other than to be exchanged with other cryptocurrencies.
All of these altcoins are *worthless* until they are widely accepted enough to actually be used to buy things with.
With that said, I'll gladly mine them and exchange them for BTC and LTC
Topic: A warning about Alt-Coins - page 153. (Read 901727 times)
Feathercoin FTW!
Yeah, that one gave me good feeling too. Which just about sums it up for alt coins for me. They all seem to be acts of putting the cart before the horse. Maybe once BTC is accepted by a major player like google Play or Amazon, and gets some gestalt mainstream cred, there'll be a place for em.
I hold both BTC and LTC and now I'm looking to get into XRP (Ripple) as I think it has real potential (as does Google and a host of other VC firms).
Seems to me that Ripple is likely the only one that's different enough from Bitcoin that it might take off. But of course, all the hardcore libertarians will (or do) hate it because a) there are centralized servers so it can be shut down, unlike bitcoin and b) the founders kept 20 Billion XRP for themselves and thus stand to profit handsomely if it succeeds.
The only reason I like it is a strictly utilitarian reason. It seems like a much cheaper way to exchange from bitcoins to USD than MtGox. They charge about a 1/1000 of a cent to transfer between currency, in their XRP currency.
The only reason I like it is a strictly utilitarian reason. It seems like a much cheaper way to exchange from bitcoins to USD than MtGox. They charge about a 1/1000 of a cent to transfer between currency, in their XRP currency.
I would love to see any alt coin do well at this point 
Very useful informations for a starters. Many of them are to think about. Thanks
Do you think it will be only bitcoin?
SEEMS A COIN A DAY IS BORN
Your are right, Invest on new alt coins you will earn more if the coin get famous. Right now, I'm planning to invest on PowerCoin. Its very fast unlike bitcoin that an hour to send and recieve, powercoin only take 30 seconds.
But why you think that any alternative coins can become famous? I think famous can be only Bitcoin, because it was first and original. Most alternative cryptocurrencies uses Bitcoin source code and protocol, and sure, they're not first. 
What the hell people argue about alt-coins ?
You don't decide alone what have value or not.
If people believe an alt-coin have value then it have value, that's it.
You don't decide alone what have value or not.
If people believe an alt-coin have value then it have value, that's it.
Your are right, Invest on new alt coins you will earn more if the coin get famous. Right now, I'm planning to invest on PowerCoin. Its very fast unlike bitcoin that an hour to send and recieve, powercoin only take 30 seconds.
What the hell people argue about alt-coins ?
You don't decide alone what have value or not.
If people believe an alt-coin have value then it have value, that's it.
You don't decide alone what have value or not.
If people believe an alt-coin have value then it have value, that's it.
There is value in alt coins, but they need to bring new features and improvements to the table. Simply forking an scrypt coin and changing a couple of variables is not enough.
i belive in LTC or NVC
Do yourself a favor and go read a book about currency markets and basic business practices. Have you ever heard of the Euro? Do you have any idea why they created it? I will give you a quick answer (one of many, but this reason is relevant to the present discussion): because Europe is millions of people of different cultures living very close together and having a dozen freaking currencies milling about was a TOTAL PAIN IN THE ASS. So they consolidated all that mess into 1 currency to make things easier.
Muahahaha, a professional economist talking, eh?
The Euro was introduced to eventually force a political and fiscal integration of Europe into a super-state. And because politicians are full of crap.
There was no solid economic reasoning for introducing the Euro and many economists warned and still warn about the risks of instability that the Euro causes.
Transferring this reasoning to altcoins: an altcoin is viable if it is different enough from other coins (e.g. confirms are faster) such that it could have a different use and market. Most of the new ones are worthless.
As I noted, there were a myriad of reasons for the Euro and I won't get into the politics of it, but to say "there was no solid economic reasoning" is a bit dismissive. The economic reasons were reduced transaction costs across states and easier cross border investment and trade. Theories dealing with currency aggregation in regional areas date back to the 1960's. The Euro may be unstable and/or a stupid idea in practice, but there does exist valid theory behind it. And as a bonus, when fat, rich Americans travel to Europe they can cross borders will-nilly and spend their Euros like they never even crossed state lines. Just imagine what economics in the US would be if every state used its own currency.
As far as altcoins go, sure they may be viable if they are different enough, but viability does not mean they will ever be worth "real" money or possess any trade value.
Well, I am living in Europe btw. Introducing one currency eases cross-border investments and trade. That is the reason why french banks were hyperventilating zombies and needed to be propped up by politicians. I don't think this can be considered a "positive" aspect of the Euro. The extra money Americans leave here is negligible.
I understand that you are very biased towards BTC. That is your choice. I do not know what you consider real money but I can exchange LTC for USD at a current rate of 2.88 USD/LTC. That is pretty real to me. I think you are also afraid of a new revolutionary altcoin coming out that improves BTC significantly. This would cause BTC to lose value.
Hi, as a complete newb, is there any simple way to mine CNC in a pool using the QT? I'm mining CNC on my own at 1khash... will take me years lol... but I don't know how to use any programing language... just know how to click an exe 
any ideas or lessons? Thanks
any ideas or lessons? ThanksThis really is not the discussion for that question. You should probably start a new thread.
Hi, as a complete newb, is there any simple way to mine CNC in a pool using the QT? I'm mining CNC on my own at 1khash... will take me years lol... but I don't know how to use any programing language... just know how to click an exe any ideas or lessons? Thanks
any ideas or lessons? Thanks
Feathercoin FTW!
I've been researching Ripple - and I'm still not clear on whether or not this is another alt-coin or something completely different. The best explanation I read was likening XRP to a USPO stamp. Users of Ripple exchange will need XRP to transfer BTC / USD / Etc. at a much MUCH lower fee than traditional avenues. Anyway...this is probably in the wrong thread - chalk it up to a newbie!
Regardless...loving this stuff!
Regardless...loving this stuff!
yes it is google btc-e you can trade a couple of the higher priced coins with eachother
I'll look into it. Bitcoins seem more like a long term investment to me.
Do yourself a favor and go read a book about currency markets and basic business practices. Have you ever heard of the Euro? Do you have any idea why they created it? I will give you a quick answer (one of many, but this reason is relevant to the present discussion): because Europe is millions of people of different cultures living very close together and having a dozen freaking currencies milling about was a TOTAL PAIN IN THE ASS. So they consolidated all that mess into 1 currency to make things easier.
Muahahaha, a professional economist talking, eh?
The Euro was introduced to eventually force a political and fiscal integration of Europe into a super-state. And because politicians are full of crap.
There was no solid economic reasoning for introducing the Euro and many economists warned and still warn about the risks of instability that the Euro causes.
Transferring this reasoning to altcoins: an altcoin is viable if it is different enough from other coins (e.g. confirms are faster) such that it could have a different use and market. Most of the new ones are worthless.
As I noted, there were a myriad of reasons for the Euro and I won't get into the politics of it, but to say "there was no solid economic reasoning" is a bit dismissive. The economic reasons were reduced transaction costs across states and easier cross border investment and trade. Theories dealing with currency aggregation in regional areas date back to the 1960's. The Euro may be unstable and/or a stupid idea in practice, but there does exist valid theory behind it. And as a bonus, when fat, rich Americans travel to Europe they can cross borders will-nilly and spend their Euros like they never even crossed state lines. Just imagine what economics in the US would be if every state used its own currency.
As far as altcoins go, sure they may be viable if they are different enough, but viability does not mean they will ever be worth "real" money or possess any trade value.
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