Topic: A warning about Alt-Coins - page 18. (Read 901715 times)
May i ask what coin now is the most promising?
This silly altcoins madness has to stop... 
Indeed. Please help my project and stop the madness once for all.
https://bitcointalksearch.org/topic/m.4394844
This silly altcoins madness has to stop...
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.
Not to stirr up the discussion again, but Im really having fun mining altcoins. Especially with the insane hashrates needed to mine any BTC at the moment.
Your tips on how to prevent yourself from being scammed are good though
Where does one find the wallet for the Coinye alt-coin? Everywhere I seem to look it mentions that it will be pre-released, and the password distributed at launch, but I can't actually find that anywhere.
On a related note, I'm also pretty new to mining in general, and this will be my first coin launch. That said, is it worth it to try to solo-mine a launch coin, or does the difficulty make it more worthwhile to mine in a pool?
Part of me seems to think that it makes more sense to solo-mine...
--nyminer
On a related note, I'm also pretty new to mining in general, and this will be my first coin launch. That said, is it worth it to try to solo-mine a launch coin, or does the difficulty make it more worthwhile to mine in a pool?
Part of me seems to think that it makes more sense to solo-mine...
--nyminer
Someone posted this in the Coinye Ann Thread:
Quote from: iamalitecoin on Today at 04:43:29 AM
Can anyone lead me to the wallet source?
http://d.coinyecoin.org/coinyecoin-qt-win32.zip
THIS IS THE WALLET FOR THE PEOPLE WHO NEED IT
Do not open this link, it is not the original from coinye thread.
Where does one find the wallet for the Coinye alt-coin? Everywhere I seem to look it mentions that it will be pre-released, and the password distributed at launch, but I can't actually find that anywhere.
On a related note, I'm also pretty new to mining in general, and this will be my first coin launch. That said, is it worth it to try to solo-mine a launch coin, or does the difficulty make it more worthwhile to mine in a pool?
Part of me seems to think that it makes more sense to solo-mine...
--nyminer
On a related note, I'm also pretty new to mining in general, and this will be my first coin launch. That said, is it worth it to try to solo-mine a launch coin, or does the difficulty make it more worthwhile to mine in a pool?
Part of me seems to think that it makes more sense to solo-mine...
--nyminer
Someone posted this in the Coinye Ann Thread:
Quote from: iamalitecoin on Today at 04:43:29 AM
Can anyone lead me to the wallet source?
http://d.coinyecoin.org/coinyecoin-qt-win32.zip
THIS IS THE WALLET FOR THE PEOPLE WHO NEED IT
Coinye coins seem to be most wanted 
every beggining is dificult, even for alt coins.
Buying Coinye, paying in BTC, PM me.
every beggining is dificult, even for alt coins. Buying Coinye, paying in BTC, PM me.
looking to buy coinye coin, pm me offers
Any of pesetacoin?
look
You think there are a lot of coins already?...Wait till larger companies want their own coins for the own rewards or payments purposes...We are only at the tip of the iceberg right now.. Larger companies will also have the resources to handle mining themselves if need be, or to give incentives to miners to drop coins with no future or use. Looking forward to it..:-)
It is kind of scary also(and exiting). FB, Goolge, AT&T, etc. are already major communication/media companies. Imagine them with control over a monetary system as well.
You think there are a lot of coins already?...Wait till larger companies want their own coins for the own rewards or payments purposes...We are only at the tip of the iceberg right now.. Larger companies will also have the resources to handle mining themselves if need be, or to give incentives to miners to drop coins with no future or use. Looking forward to it..:-)
I think it's easy to mine now. Better now than later.
Mine today, yesterday and tomorrow. I always have my ~3MH/S rigs running. Nothing worse than waking up in the morning and finding out one of my rigs hung itself overnight.
May I ask what cards you are using? I decided to buy R9 280x, but I'm considering the 270x instead.
As far as I know 280x performance is much better than 270x performance. 280x has currently very good price/performance ratio.
As far as my calculations go and prices here it seems to me that price / performance is very close.
270X about 450 khash / 195 € = 2,31 khash / €
280X about 720 khash / 310 € = 2,32 khash / €
There is always some variance of course.
First newbie post. Yeah
Welcome aboard:D Thanks, I think I'll stick with the 280x
hello, i'm looking for buy/sell crypto but i don't know where.
what are the most secure kind of markets on the web?
what are the most secure kind of markets on the web?
Please let coinye drop off the face of the earth like it's namesake...
coinye is here to stay
I really hope the seemingly endless supply of new altcoins will slow soon. I also want to see a lot of them simply disappear from the exchanges and boards. This will be healthy for the crypto currency economy. Having so many crap coins out there makes this whole thing look like a joke to the rest of the world. When will the attrition happen???
With 26 letter in the English alphabet we might get 17576 combinations for coins aac ,btc,sxs,mgh,kkk
But since doge has already been listed with 4 , we might get 456976 Alts.
=)))))))))))))0
I kinda agree with some of what your saying and can understand your point of view.
But it makes me think that if in fact there were fewer altcoins wouldn't that result in more miners mining fewer coins and in turn make mining altcoins less profitable and maybe more difficult?
Maybe there needs to be a balance between the number of altcoins and the number of people mining. Just a thought.
Cheers
Less coins would also mean more money pouring in less coins so the remaining coins would be more costly to acquire and mining would be more profitable.
But that's just theory.
For now I just mine the most profitable (per cryptsy) day by day and convert most of them immediately to btc but i think there might be a place for them to stay in the future.
Regarding shit coins, it's actually profitable to mine them. What you think about them does not make a rats ass of difference
Exactly what I think lol
I really hope the seemingly endless supply of new altcoins will slow soon. I also want to see a lot of them simply disappear from the exchanges and boards. This will be healthy for the crypto currency economy. Having so many crap coins out there makes this whole thing look like a joke to the rest of the world. When will the attrition happen???
With 26 letter in the English alphabet we might get 17576 combinations for coins aac ,btc,sxs,mgh,kkk
But since doge has already been listed with 4 , we might get 456976 Alts.
=)))))))))))))0
I kinda agree with some of what your saying and can understand your point of view.
But it makes me think that if in fact there were fewer altcoins wouldn't that result in more miners mining fewer coins and in turn make mining altcoins less profitable and maybe more difficult?
Maybe there needs to be a balance between the number of altcoins and the number of people mining. Just a thought.
Cheers
These tchotchke alt coins work the exact same way as penny stocks. They slowly die out after a few good marketing bursts.
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