A warning about Alt-Coins - page 69.

SolomonSollarsNSense

full member

Activity: 462

Merit: 100

Quote from: AltCoinSpeculation on December 10, 2013, 01:29:19 PM

Agreed, a good coin needs, great developers, dedicated miners, and a large community of followers and users,
not enough new coins are pushing to have their coins used by websites, nor by offline shops.

The right strategies will make or break coins long term survival.

For instance, if a new coin can create a good website, or persuade a current website to use their coin, and only accept their coin, then that will create a constant supply of buyers for that coin.

Offline a coin community could persuade a few local shops and businesses to accept their coin, this would make it more appealing for people to buy and use, or hold as an investment long term..

I like the way you think. Just #Makes$ense

scottjv

newbie

Activity: 17

Merit: 0

Yeah sexcoin is going through the roof! Being listed on coinmarketcap definitely helps push the price up but what other factors are at work here?

s4rn

newbie

Activity: 16

Merit: 0

Bought Sexcoin at .003. Holding, it may be .01 tomorrow morning!

virtualaddict

newbie

Activity: 56

Merit: 0

Quote from: emmocks on December 10, 2013, 05:10:05 PM

I came here for doge. Doge will destroy us all but I cannot resist them. I suppose that's why purgatory was made. Sad

my 3.0mh/s is now pointed at dogecoin. can't resist it. Tongue

garp

member

Activity: 94

Merit: 10

Also started using Cryptsy with small amounts to get some exchange experience.
It seems to me they have some annoying delays built into their system. Combined with some heavy load this could be a disadvantage for them.
Anybody else with the same experience?

emmocks

newbie

Activity: 14

Merit: 0

I came here for doge. Doge will destroy us all but I cannot resist them. I suppose that's why purgatory was made. Sad

garp

member

Activity: 94

Merit: 10

Started with LTC since i like the alternative scrypt mining? Looking at investing in some mining equipment.
Also looked into some coins with thrustworthy names such as worldcoin and goldcoin
Hope i can learn some more on this forum.

Anybody some suggestions?

garp

chilin_dude

member

Activity: 78

Merit: 10

Hi guys, new poster.
I've been recently mining both DGC & BBQ (as they had highest value according to http://dustcoin.com/ , currently debating if I should cash these back into litecoins as that is what I was originally mining, but then realised I'd probably get more mining the others then converting.
Pros & Cons of both...

bmsmashout

newbie

Activity: 15

Merit: 0

You bring up a good point as numerous alt-coins really have now value and their prices go up and down based on how bitcoin does ,but I think some like peercoin and quarkcoin could be worth something one day. Might as well get in now with not as much competition and media exposure like bitcoin.

grulag

newbie

Activity: 9

Merit: 0

Just consider all the cryptocurrencies as private money, away from fiat. I like all the new alt coins, especially the ones that can be cpu mined which allows newbies like me to mine something without a huge investment. Once this is all ironed out, I think there will be a cyrtpo coin backed by gold which all the central banks will use and people holding both mining shares and the crypto will do well.

I starting mining qrk about a week ago and I am having fun.

Nullu

hero member

Activity: 532

Merit: 500

I suppose the only good thing about there being so many alt-coins is that it does thin out the competition, although it's only going to get harder.

AltCoinSpeculation

member

Activity: 85

Merit: 10

Agreed, a good coin needs, great developers, dedicated miners, and a large community of followers and users,
not enough new coins are pushing to have their coins used by websites, nor by offline shops.

The right strategies will make or break coins long term survival.

For instance, if a new coin can create a good website, or persuade a current website to use their coin, and only accept their coin, then that will create a constant supply of buyers for that coin.

Offline a coin community could persuade a few local shops and businesses to accept their coin, this would make it more appealing for people to buy and use, or hold as an investment long term..

Cshark

newbie

Activity: 5

Merit: 0

You got it right,dude. Only a few coins will stand the test of the time.

thijzen

newbie

Activity: 5

Merit: 0

Quote from: bitbox on December 10, 2013, 08:08:15 AM

I wouldn't spend too much time on new cryptos, but don't mind to give them a go and mine a few.

Actually I think most growth is in alt-coins although they are even more volatile I think only a few good ones will survive and potentially even replace bitcoin as they offer some important improvements (bloated blockchain, transaction confirmation time, scrypt etcetera). I mean, there were social networks before facebook...

bitbox

member

Activity: 84

Merit: 10

I wouldn't spend too much time on new cryptos, but don't mind to give them a go and mine a few.

thijzen

newbie

Activity: 5

Merit: 0

Can anybody help me with the following:
I invested in NXT and did not claim my coins yet (I'm trying now). I now have a client running and followed the steps from this https://bitcointalksearch.org/topic/nxt-investors-claim-your-account-now-launch-tomorrow-344206 post but my coins have not appeared in my account. Does anyone know how long this takes? Is this the proper way to claim my coins?
Any help is greatly appreciated!

tagbond

hero member

Activity: 627

Merit: 501

Tagbond.com offers a way to earn coins other than mining or begging...through the rewards system it offers, merchants can offer crypto in return for buying services and products (same system as points or airmiles etc),and customers can use the same coins to go to any merchant that wants to be part of the system. It's free for anyone to create a community or business account. At present Tagbond features TagCoin and BitCoin, but we will be adding more coins this week. We are also working on a simple exchange to buy, sell or trade any coin to any coin, or for Fiat currency deposited via wire transfers.

Depending on how much a coin is used in the real world, and what demand there is for it, will dictate pricing to a certain extent as the knowledge spreads that they are a better bet than in store points. Customers can trade them, sell them, give them as gifts to friends, or buy/sell/auction stuff on Tagbond and reward others to help them promote via Facebook etc, all using cryptocurrency.

Today we will add the first Quiz Tagvert to earn TAG by either getting all 5 multi choice questions right, or for sharing the quiz on facebook or other sites to earn referrals in TAG for whoever takes the quiz. I will post the URL here or you can look for it on tagbond.com

jones31

newbie

Activity: 28

Merit: 0

Quote from: PenAndPaper on December 09, 2013, 11:13:33 PM

Quote from: jones31 on December 09, 2013, 10:51:10 PM

Quote from: PenAndPaper on December 09, 2013, 10:40:56 PM

Quote from: jones31 on December 09, 2013, 10:26:30 PM

Quote from: Swimmer249 on December 09, 2013, 10:23:41 PM

If you're looking for a good alt-coin, Feathercoin is the way to go. Best profitability right now

So it is profitability that makes a "good" coin?
If everybody jumps onboard and the profitability from mining it goes down , it will turn into a "Bad" coin?

That would lead to people saying that bitcoin is a bad coin , because is is used , it is traded , it is bought,sold, begged for.

Pretty much this is what's happening lately in the alt coin scene. Apart from some coins that are offering something different like ppc and xpr everything else is promoted that way.

The only alt that is quite interesting is NMC from my point of view.
The rest have only featured that can easily be implemented in the bitcoin protocol.

Regarding the alt coins that boomed lately once their hash rate grows and is less profitable miners will turn away leaving the door opened for an attack.

Implementing things that require a hard fork is not something that you call easy Tongue

Not all of the good things require an hardfork.
I read most of the things people criticize bitcoin for not been able to do and they are related to the blockchain size and transaction time.

It's a fact that faster blocks are non needed since you can get confirmations just as fast as using coins with 1block/min.
And the blockchain can be pruned easily.
Also most of the things that alt coins claim to be able to do are just 4th grade magic tricks that have no use whatsoever.

PenAndPaper

sr. member

Activity: 252

Merit: 250

Quote from: jones31 on December 09, 2013, 10:51:10 PM

Quote from: PenAndPaper on December 09, 2013, 10:40:56 PM

Quote from: jones31 on December 09, 2013, 10:26:30 PM

Quote from: Swimmer249 on December 09, 2013, 10:23:41 PM

If you're looking for a good alt-coin, Feathercoin is the way to go. Best profitability right now

So it is profitability that makes a "good" coin?
If everybody jumps onboard and the profitability from mining it goes down , it will turn into a "Bad" coin?

That would lead to people saying that bitcoin is a bad coin , because is is used , it is traded , it is bought,sold, begged for.

Pretty much this is what's happening lately in the alt coin scene. Apart from some coins that are offering something different like ppc and xpr everything else is promoted that way.

The only alt that is quite interesting is NMC from my point of view.
The rest have only featured that can easily be implemented in the bitcoin protocol.

Regarding the alt coins that boomed lately once their hash rate grows and is less profitable miners will turn away leaving the door opened for an attack.

Implementing things that require a hard fork is not something that you call easy Tongue

jones31

newbie

Activity: 28

Merit: 0

Quote from: PenAndPaper on December 09, 2013, 10:40:56 PM

Quote from: jones31 on December 09, 2013, 10:26:30 PM

Quote from: Swimmer249 on December 09, 2013, 10:23:41 PM

If you're looking for a good alt-coin, Feathercoin is the way to go. Best profitability right now

So it is profitability that makes a "good" coin?
If everybody jumps onboard and the profitability from mining it goes down , it will turn into a "Bad" coin?

That would lead to people saying that bitcoin is a bad coin , because is is used , it is traded , it is bought,sold, begged for.

Pretty much this is what's happening lately in the alt coin scene. Apart from some coins that are offering something different like ppc and xpr everything else is promoted that way.

The only alt that is quite interesting is NMC from my point of view.
The rest have only featured that can easily be implemented in the bitcoin protocol.

Regarding the alt coins that boomed lately once their hash rate grows and is less profitable miners will turn away leaving the door opened for an attack.

Topic: A warning about Alt-Coins - page 69. (Read 901729 times)