Topic: Altcoins dying???? - page 5. (Read 10859 times)

The fast adaptability and profitability even these harsh times for alt-coins where the most ppl sell for BTC .

What should we see?

See?

And it's two months old!
http://www.coinwarz.com/cryptocurrency/?sha256HashRate=19000.00&sha256Power=300.00&sha256PowerCost=0.1500&scryptHashRate=4400.00&scryptPower=1800.00&scryptPowerCost=0.1500&sha256Check=true&scryptCheck=false


I learned it from here!!!!

http://www.nasdaq.com/article/will-better-technology-deflate-bitcoin-fever-cm307120

tbh this is the first i've ever heard of a betacoin.

Anyone who doesn't think that altcoins are dying, take a look at coingen's status page today.

http://coingen.io/status.html

this is after 2 days.

Buy now when it's low and not for long !!!!
https://www.cryptsy.com/

It's also on Coinex.pw and coins-e.com

Does Betacoin have any merchant?

Betacoin is never going to die. I haven't seen a cryptocurrency which can adapts that fast.
It is even profitable in these harsh times. I will stick to this coin!

You might be right about me not mining the best coin, What I do is just check coinwarz for the most valuable YET stable and efficient coin, so far only mining doge, any tips on how to choose the right coin for best profits and supporting the coin itself?

i dont think Altcoins are dying.. though the recent wave of new coins has basically flipped the market onto its back.

Too much of scrambling to find that 1 coin which will make it big (with every launch jumping to 12+GH/s within 30 mins of launch) and way too many coins have followed the doge ideology of minting coins in the billions following the theory that the lowest they could make on it would be 1 satoshi at launch. I for one am getting tired of new coins being launched without a wallet.

I believe we are seeing a market rationalization of sorts. With BTC prices climbing high. This gives a bigger incentive to buyers to watch their BTC expenditure and are likely closing of their investments to cash in on the higher prices. The market has also been too diluted with this wave of crap coins so i think even a coin designed by "God" would fail in this climate.

There's been a reduction of coins being introduced so I expect the markets will start seeing a bounce in value with the reliable coins slowly and eventually in 3-6 months we will see another wave of crap coins once again.

As for GPU mining ending.. i sincerely doubt it and agree with molecule man. I do believe that there is quite a bit of elitism from BTC'ers. For some reason, Bitcoiner's tend to overlook that before there was SHA-256 and scrypt. Bitcoin was GPU mined. its kinda like that shameful family secret no-one wants to talk about. But my take is this for a cryptocurrency to be successful it needs to be tested by the general public. Large corporations/investors are going to sink Millions into a venture which hasn't proven itself. So, those little rigs at home are the best way to test and prove that a coin can support itself.

Markm had it right.. with his statement that mining is designed to reduce profitability we have seen it on BTC and now LTC we will likely see it on WDC and a few others as well but thats not always a bad thing. The advantage to GPU miners is that if we keep aside a little bit of everything we mine rather than just sell immediately there is a good chance we are looking at something that will be worth a few 100 in a few years. The problem is that miners have too much overhead to cover.

Lastly, Markm also probably pointed out the right thing when he said that you were probably not mining the right coins. I mined LOT for the first week after launch with my 400KH/s system. earned about 490k on solo (my first attempt) and another 500k+ from pool mining. I also played a games that cost me 692K LOT and returned 1.05M LOT ten minutes later. i sold about  800K lot on its way up and down. and earned about 0.3 BTC which isnt bad at all when u consider it was done from 1 week of mining. As it stands, i've paid off the cost of my single GPU in the first month alone. i've also discovered i like the community of LOT and as such have decided to hold the balance because i think its got a shot at being succesful. The fact that it came out with a whole bunch of other coins including a week after doge and still stayed viable is a testament to its validity. Plus dev and its support team seem to be working hard at making it work.

This is not a plug for LOT and its not a show of my ability to pick a winner. I have 800k meow which while interesting seems to be headed nowhere. Cage was a bust. Gift was pointless. I mined moon for 2 hours at launch and sold out my 200k moon immediately after it got on coinex. so basically picking a winner when it comes down to New coins comes down to luck. I also have ELE and NDL. not a lot but i've basically been hopping and holding. Which is not something i would suggest as its usually better to find one coin and stick to it. But with my 400Kh/s hopping abt is pretty much the most profitable system for me

There is value in that.

I agree with you, especially regarding the snake oil salesmen pushing this garbage.  It is possible that an alt will steal the show, however I believe this would only happen if Bitcoin absolutely crashes due a technical problem which makes it unusable.  Chances are the Bitcoin codebase will simply be tweaked as the years pass in order to solve these problems before they become insurmountable.  It reminds me of TCP/IP.  It has a tremendous number of inherent flaws and is demonstrably inferior to new, competing network protocols.  However, it will remain the basis for the internet for some time to come simply because of its adoption rate.  So, I think the most an altcoin will do is provide a research environment for desirable features to integrate into future Bitcoin.

The alt-coins are not dying. The spreads are adjusting themselves to account for BTC rise in price. It is as simple as that. If you want more info, I wrote about it: here

And there were alt coins that actually did gain against BTC this weekend, I wrote about them as well: here
But very few people here appear to look at the markets broadly. Most just tend to focus on the coin they have the greatest quantity of.


I agree with most of what you said, however I believe that alt coins are sort of a sandbox. I believe in BTC and am sure it will continue to rise, however I believe that it is not flawless and another coin will emerge which will supplant it. Surely that coin will come from the alt coin scene. Currently there are a few alt-coins which are not scams which are actually trying to gain acceptance. Currently the alt-coin scene is like the wild west, it is completely unregulated and tons of scams are abound and everyone is looking for an instant get rich scheme. However, there are people out there that can and will innovate. Those that truly believe in digital currency as the future, not merely as ploy to confuse people with technical jargon in hopes of getting them to hand over thier money. The people who are in it just to scam and make a quick buck (I won't name them here) infuriate me. They are detrimental to the broader acceptance of crypto currency.

Couldn't agree more, it pays you 4x less than what you would make if you stuck with one coin.

Bitcoin's block chain scalability is questionable. It is not fast and scalable enough technically. Can it be a single point of failure when it becomes more popular? It is too risky to rely on a single block chain (simply put, a single bank for the whole world) for payments. I think that the world needs 2 or 3 block chains (altcoins) to spread the work load or risk

Do you think that EarthCoin will take over Litecoin's position in a year? LiteCoin is good for microtransaction. EAC is even better

The truth is that these alt coins are really only as useful as their adoption rate.  In the long run, this adoption rate will be 0.  None of them offer enough to surpass the infrastructure and hype surrounding Bitcoin.  Also, the flood of altcoins will only get worse.  It will dilute the market and make them all equally worthless over the long run.  Miners will simply migrate from scumcoin to scumcoin to maximize profits.  Thus, their support infrastructure is merely an illusion.  I think this is a good thing .. good riddance.  Only a few unrealistic investors actually believe is here to stay.  This is all just a scheme for speculators like me to make profits while the making is good and enrich some coin developers.  Sorry guys.  That being said, alt coins will never die, because people love to gamble.  But that's all it will become .. pure gambling in hopes of catching a pump and dump before everyone else does.  Might as well put $2000 on red.

multipool is stupid. They are losers

I don't know about it being elitest so much as not spreading too thin.  cgminer is open source, anybody can pick it up and fork it from 3.7 and continue maintenance and developing GPU support.  So far I don't know that there is much that needs to be done to 3.7, its been working fine for me at least.

Some of us, I would suspect a lot of us, are enthusiasts in general and into all the cryptos.  I just bought a bunch of ASICs, I made some coins, I also mine scrypt coins, its all part of the hobby.

Scrypt coins have been like printing money lately.  I don't have a ton of scrypt hashpower (I only have an HD6850), but I was able to get a nice stake in DOGE right at the beginning, and I've done alright playing with mining some other coins.

But the problem with scrypt coins is almost that they are too accessible.  Once scrypt ASICs come out the game is going to shift again and the days of every pimple-faced teenage gamer mining meme scrypt coins will go away.  That said, once that happens somebody will come up with something to take its place.  There is simply too much demand in the market for gpu-minable coins that people can play around with.

In my opinion scrypt isn't going to "happen" to BTC.  I think BTC is it's own worst enemy.  I think we're going to see more innovation this year.  I also personally believe that Bitcoin itself is going to become irrelevant and be completely displaced within 5 years.  Bitcoin==linux.  Somebody is going to make Windows.  Yeah, yeah I know all the stuff about Winblows, but I'm talking from a business perspective, putting aside ideology.

Somebody is going to reinvent the blockchain concept in a way that fixes a lot of the deficiencies.  The real winner or "Windows" of coins is going to be the one that enables rapid scaling of the ecosystem through more accessible APIs and software that is more understandable and more flexible in terms of deployment architectures.

The problem with Bitcoin is that there is too much ideology/academia/holier-than-thou stuff going on, and business doesn't care about any of that.  Now that cryptos are starting to attract the attention of the larger business world, the market will drive it in its own direction and will solve problems on its own, regardless of the opinion of the ideologues. 

The killer app that I am waiting to see appear is the self-service alt-coin exchange.  A cryptsy where coin authors or enthusiasts can register whatever coin they want to see trade-able, upload a wallet for validation and automated setup or point it at a github repo, and create a market on-demand.

I'm also waiting to see somebody create the InvestorsHub of cryptos.  I would do it myself if I didn't already have too many projects.  Somebody will build it.

I hope things turn around, but I don't have high hopes.

I guess GPU mining is now unprofitable at current electrical costs. Might as well spend the fiat on straight coins.

GG altcoins. You were fun while you lasted.