Topic: A warning about Alt-Coins - page 157. (Read 901727 times)
anyone using yacoin?
Why is there so many alt-coins...?
Because people keep creating them to make money.
whats a better idea right now sticking to just ltc/btc or including like a ftc,cnc,nmc (ie more volitile) coin side by side'
?
?
Well, you could stick with LTC which, if you mine is more profitable than BTC. i would trust the minor coins like NMC, TRC and CHN too much.
Check coinchoose.com and find the most reliable next to bitcoin.
Why is there so many alt-coins...?
whats a better idea right now sticking to just ltc/btc or including like a ftc,cnc,nmc (ie more volitile) coin side by side'
?
?
bitcoin and other alt currencies reward early adapters/miners as price increases. those who missed BTC windfall, are now betting on LTC while it's relatively cheap hoping for an increase down the line. FTC and others on the horizon. early adapter = money in your pocket. the only person who makes more money is the creator of an alt coin. it just makes good sense ... if you start your own coin, you're guaranteed to make money (even if it fails after 2 wks, 2 months, .. 2 yrs). as long as this is the case, I think we'll continually see more and more alt coins. I don't see an end in sight.
See, you just described a Ponzi Scheme nearly perfectly. Ponzi schemes are illegal as hell, hence why people call coins designed to solely benefit the creator and the earliest adopters a scam.
My concern for the new alternatives are more of keeping track of them and their "standards." I do see value in the alt-coins as a place to put older hardware out to pasture working and focus the horsepower on the money where it counts. I think in that way, I'm not so concerned about the hardware purchases right now. They'll always have something to do, especially if you get into the right ones at the right time. The power usage/processing speed may be less consequential. I've dealt with computer systems and networks for the better part of twenty years now. I still find a way to salvage use out of unwanted devices. I do think that there will be a point when people will get tired of the variety of currencies and look for some open-sourced group framework or consortium. I believe when that happens the values will increase and be recognized by many more as a true method of commerce.
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.
new info for me. thanks for the tips!
new info for me. thanks for the tips!
bitcoin and other alt currencies reward early adapters/miners as price increases. those who missed BTC windfall, are now betting on LTC while it's relatively cheap hoping for an increase down the line. FTC and others on the horizon. early adapter = money in your pocket. the only person who makes more money is the creator of an alt coin. it just makes good sense ... if you start your own coin, you're guaranteed to make money (even if it fails after 2 wks, 2 months, .. 2 yrs). as long as this is the case, I think we'll continually see more and more alt coins. I don't see an end in sight.
Why do people think ripple is a scam. It seems ok to me. Its just whether or not people will actually trust eachother.
If ltc continues being recognized i'd take a gamble on it. but yes the rest seem like a waste of time and pump and dump operations.
Yeah, I honestly feel that Litecoin will be the next bitcoin, lol.
If ltc continues being recognized i'd take a gamble on it. but yes the rest seem like a waste of time and pump and dump operations.
I use this service - it is good, but additionally I calculate for myself, what to mine...
http://www.coinchoose.com/
That's a great site. CryptoSwitcher seems useful too for people who don't know which coin to mine.http://www.coinchoose.com/
I use this service - it is good, but additionally I calculate for myself, what to mine...
http://www.coinchoose.com/
http://www.coinchoose.com/
I think that all those alternative coins will be the downfall of bitcoin..
what coin should we mind today ? 
I am so confused ! 
I am so confused ! Seems YAC is the coin of today
what coin should we mind today ? I am so confused !
I am so confused !
if you believe they are pump and dumps, seriously who do you think is behind it? 
I think it's easy to mine now. Better now than later.
Ripple is a scam.. Not open source = bad mkay
Agreed. Ripple surely is a scam.
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