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Topic: A warning about Alt-Coins - page 91. (Read 901725 times)

newbie
Activity: 24
Merit: 0
November 28, 2013, 05:18:08 AM
I use my GTX 670 to mine anything i can get. I have some IFC, TAG, ANC, FTC and LTC. Them 170KH/s!
I doubt that it'll amount to anything but if bitcoin has taught me something it's that you never know..
newbie
Activity: 5
Merit: 0
November 28, 2013, 04:55:16 AM
another question : is there any chinese ALT coin?

Chinese alt coin could develop faster than other alt coins do to their current interest for crypto...

Thx for the answers
sr. member
Activity: 252
Merit: 250
November 28, 2013, 04:50:44 AM
LTC it is.... It is growing steadily

By steadily you mean exponentially?  Tongue Check the charts for the last 3 days  Cool
newbie
Activity: 7
Merit: 0
November 28, 2013, 04:46:34 AM
HI, im new to the btc and the alt-coins.

Been following it for a while, never had the guts to buy (saw it the first time a good year ago).
I've been seeing huge lists of alt coins, currently imo the one who brings something new in the mix is ppc and others like namecoins, zerocoins i think.

For the rest I see it as a (gold rush), which started with btc getting traction in the news etc etc.

Don't think BTC will end since it is gathering more and more base.

For the alt coins, there are so damn many. Which one to pick ?
And is their even an alt coin needed next to BTC ? since as far i am understanding the protocol of bit coin can be updated?
So in general I do understand everyone trying to get a piece of the pie and trying to make some new. Where can I check if they pre-mined the coins?


If btc can be updated why not just get the good things from the new coins when needed and stick to BTC?  



I'd like to know too. Also, as for alt coins who don't necessarily bring something new to the table, what happens if they gain enough traction to merge with a bigger coin? Does that make it a profitable investment?

Is it a viable strategy to simply try to get in on the ground floor of every new coin you can while the mining is easy in the hopes that one of them takes off and gets traded on an exchange?

Thanks
newbie
Activity: 1
Merit: 0
November 28, 2013, 04:44:26 AM
LTC it is.... It is growing steadily
Since it's using the GPU mining, as a miner myself,
After investing so much on the GPU, I cant just give up mining LTC.
Paid off these last few days.

 Grin Grin Cheesy Cheesy
newbie
Activity: 3
Merit: 0
November 28, 2013, 03:51:00 AM
HI, im new to the btc and the alt-coins.

Been following it for a while, never had the guts to buy (saw it the first time a good year ago).
I've been seeing huge lists of alt coins, currently imo the one who brings something new in the mix is ppc and others like namecoins, zerocoins i think.

For the rest I see it as a (gold rush), which started with btc getting traction in the news etc etc.

Don't think BTC will end since it is gathering more and more base.

For the alt coins, there are so damn many. Which one to pick ?
And is their even an alt coin needed next to BTC ? since as far i am understanding the protocol of bit coin can be updated?
So in general I do understand everyone trying to get a piece of the pie and trying to make some new. Where can I check if they pre-mined the coins?


If btc can be updated why not just get the good things from the new coins when needed and stick to BTC?  
newbie
Activity: 8
Merit: 0
November 28, 2013, 03:32:03 AM
Does anyone focus on minor "altcoins" ?

I dont want to jump on a horse which is nearly dead before it runs.

So is there maybe any altcoin with substantial different algorithms so to say where sha256 is replaced with some else?

Litecoin and many others use scrypt. Also there are some alt coins that use proof of stake together with proof of work like PPC.
legendary
Activity: 1484
Merit: 1001
Crypto-News.net: News from Crypto World
November 28, 2013, 03:29:38 AM
Quote
If anonymous supports this coin, I believe that it will rise and be in the top 5 coins too. I believe also that end users will not be the same as for BTC and LTC...

Its gonna happens just for witch one that is prime question

is it gonna be FTC, PPC, NEC, MEC , IFC , COL, ANC, GLD .........

This is gonna be hard to gamble but who ever guest right gonna be millionare

 Cool
sr. member
Activity: 252
Merit: 250
November 28, 2013, 01:47:21 AM
Does anyone focus on minor "altcoins" ?

I dont want to jump on a horse which is nearly dead before it runs.

So is there maybe any altcoin with substantial different algorithms so to say where sha256 is replaced with some else?

Litecoin and many others use scrypt. Also there are some alt coins that use proof of stake together with proof of work like PPC.
newbie
Activity: 8
Merit: 0
November 28, 2013, 01:28:38 AM
Does anyone focus on minor "altcoins" ?

I dont want to jump on a horse which is nearly dead before it runs.

So is there maybe any altcoin with substantial different algorithms so to say where sha256 is replaced with some else?
newbie
Activity: 5
Merit: 0
November 28, 2013, 12:59:13 AM
Hey, so I'm semi new to crypto or at least the ALT coin world.

I recently got into MEC. I've talk to some people who live in China and say it's becoming a strong contender over there as well as just seeing higher volume on some of the exchanges.

My question; should I be concerned about downloading the wallet file directly from their website? http://www.megacoin.co.nz/

I am concerned there could be some sort of key logger or malware. Am I just being over paranoid or is this a real concern? Thanks in advance for the replies.
newbie
Activity: 6
Merit: 0
November 27, 2013, 10:43:00 PM
What are the key elements you guys have in mind when selecting an alt coin? 
newbie
Activity: 5
Merit: 0
November 27, 2013, 10:23:07 PM
Damn....I wish I had invest in alt coins  Cry Saw Litecoins when they were 4$.....Now im aiming towards megacoins and infinitecoin  Grin
newbie
Activity: 7
Merit: 0
November 27, 2013, 09:30:25 PM
wallet stealer?

Given so low chances to hit a bitcoin wallet user, why would people write the stuff.
Oh i see, because there is no regulation.

If my wallet got stole, it is stolen, can i file a report or something?
newbie
Activity: 4
Merit: 0
November 27, 2013, 05:51:07 PM
Hi, could someone send me some NXT coins so I can start mining? Thanks!
17405231906428949483
newbie
Activity: 2
Merit: 0
November 27, 2013, 05:39:32 PM
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:
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.
Yea i wish i had some altcoins
legendary
Activity: 1789
Merit: 1008
Keep it dense, yeah?
November 27, 2013, 04:20:24 PM
I've made some terrible decisions and had some bad luck along the way, but it could be worse.

I was caught in a noobtrap on TRC, buying 3000 at 0.00026 before it shot down to 0.00018. After holding for two days and watching like a hawk, my order for 0.00027 was snapped up when I went out for an hour. When I got in the price was 0.00041, the peak was something ridiculous like 0.0018! Obviously I would have certainly sold my share before it hit even 0.00041 as my mentality was one of recovery having resisted selling for below what I paid for days.

Then I followed Fontas into the FTC pump that never happened, well it did but then somebody (maybe even 'Fontas') had a 300 BTC sell wall which killed the pump before it got going. Now I am sitting with 3.5k FTC whilst LTC shot from 19 to 30 USD.

Everything I touch seems to be turning sour, I suppose it is all a learning curve and the stakes could have been much higher.

Fine line between profit and greed etc.
global moderator
Activity: 4018
Merit: 2728
Join the world-leading crypto sportsbook NOW!
November 27, 2013, 03:38:23 PM
These are all getting very difficult to mine, do you think altcoins will be big?

Define 'big'. If you look at the trends they're all rising in value and it's highly probable they will continue to rise: http://coinmarketcap.com/
newbie
Activity: 7
Merit: 0
November 27, 2013, 03:25:59 PM
These are all getting very difficult to mine, do you think altcoins will be big?
newbie
Activity: 1
Merit: 0
November 27, 2013, 03:18:32 PM
I have made a stupid mistake on Nov 14. I have sold 4 LTC with 3$ price...  Cry
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