Topic: A warning about Alt-Coins - page 77. (Read 901727 times)

What are the positive characteristics of a new coin?  Or any coin for that matter?

I agree that there are many coins out there that are nothing but a scam and are gone in an instant. But on the same token, there are a few out there that have true innovations that could end up with big value. It all comes down to doing your research and joining the community to learn more about a specific coin.

There is a problem here.  Nobody can "adjust" the value of anything you have.  I mean, how do you feel about owning a house if its market value is going up and down in a real estate bubble?  So, if two people believe that a certain number of coins is worth a certain other thing, they don't have to pay attention to anyone trying to "adjust" the value of a coin.  The one owns the house and decides how much it is worth; the other owns the coins and decides how much they are worth.  

If the servers and exchanges attempt to "adjust" the price against some currency or some commodity, you immediately get Gresham's Law, where whichever one is valued more by people than the official exchange rate allows for, goes wherever it can get an unadjusted price.  

Valuable in the long term it's different than valuable for speculation. For example ppcoin has some potential to be valuable in the long run because of the developers and community behind it and because of proof of stake.
A random crap coin though might have more short term value  if it gets pumped for speculation.

I share that vision with you 'At the end there will just be a few coins that will be accepted and used'. But until then, mining some new (shit) altcoins and trade them for better altcoins or Bitcoin can be profitable.

"But what makes the coins valuable?" It's possibilities, the team behind it and it's potential in the end. But the normal price is based on question en demand.

What do you guys think about all the new currencies? Is it just a hype, or will they all give value?
I think the more Alt-coins that come, the more Alt-coins will go. At the end there will just be a few coins that will be accepted and used.
But what makes the coins valuable?

My experience is with primecoin and a crappy ald amd. I was making dust per day so i stopped soon after. Always a nice experience to mess around with different miners and coins ofc.

I tried protoshares, but just a couple of days ago the difficulty increased and I'm searching for alternatives

What do you think about CureCoin?

Did you try mining CureCoin?

Hi all.
I am a total newb and started mining fot coins like 2 days ago.
I managed to set up Bitminter to farm bit coins, i suppose the easiest one out there..but i cant set up anything els.
Id like to start with Litecoins but i just cant get my cgminer to work...as i understand new wersion doesnt support GPU mining so i downloaded older.
I managed to make it run on 1 pool...pool-x buit although it looked its runing i didnt see anything hapening on web page (no activity)

Could anyone help a total newb a bit.

Cheers

How are your experiences with alt coins that use cpu mining?

is it more profitable than scrypt stuff? i saw that protoshares have quite a vlue in btc even though there just 3 pools. and those 3 pools don't look so sophisticatet by there websites.

Thank you so much for the information dear. I will be careful from now on. Thanks again.

I've been looking online and through this thread for a fixed-value digital currency, but cannot seem to find one.  

In theory, any currency should maintain its exact value over time (a day, a month, a year, a decade) in order to serve as both a medium of exchange and a storer of value.  National banks around the world promise not to print money when inflation gets out of control, but the human factors of politics and personalities get in the way.  Milton Friedman suggested replacing the Federal Reserve System with a computer that automatically kept inflation between 0-2%.  A digital crypto-currency should be the ideal for this, since the servers and exchanges can read various public indicators (prices of precious metals, CPI, PPI, GDP of various countries, price of oil, iron, natural gas, AMS, M2, etc) and adjust the price accordingly but adjusting the growth in the block chain.

That is to say, that a national bank should only emit currency when demand for the currency is growing--not during times of inflation.  When inflation starts to set in, the block chain stops increasing until demand catches back up.  When demand for the fixed rate currency starts increasing again, the block chain (or "Reward Chain") grows again.  Supply is made to match demand.  Discouraging speculators, the remainder of the Reward Chain (after proof of stake has been paid out), those who've held these fixed rate coins over time can claim one share per coin if they've held them for over a month, and two shares per coin if they've held them for over one year.  If market capitalization grows from $1 million to $1.2 million, then $200,000 worth of block chain is generated over that time frame, and the holders of these fixed-rate coins can claim their share of Reward Coins, downloading a few extra coins to their wallet.  Like interest bearing securities, that variable interest provides incentive for investors and savers to buy and hold the digital coins in their wallet over time.

Perhaps it should be done first more as an economics experiment, rather than an opportunity to make money.  If successful, this would provide a real alternative to Bitcoin (and bitcoin clones), whose value is in constant flux.  There is a market for both, but there's a larger market for for fixed coins for those who are more risk averse.

Ideas?

Oh so is pumping regarded as spreading hype with out any evidence.. Ok thanks

Media about bitcoin > bitcoin is used by more and more poeple
Spammers about quak > don't really know what this is but it's gonna make you rich on the 19th

Differences anyone?

Thanks for the clarification.  So a good example of pumping would be all the recent media hype  surrounding bitcoin (ignoring the recent china news)... And if so.... When is the massive dump going to arrive??...(and hit the fan lol)

Yup , but it's also a failed example of pumping  because everybody with a brain cell knows he has no clue what he's talking about.

This may seem like an idiotic question, but is this an example of pumping??

People trying to build a reputation of a coin just so they can get a proce rise and the sell all(dumping?) of their stock?

Thanks for the warning

They probably learned about COL from the trollbox on BTCe.