Topic: Anyone else depressed by all these alts? - page 2. (Read 3063 times)

Merge mined coins with utility may survive

Got to have the right PSU 


YEAH!

~flux capacitor n chit! =)

It really depends what you are looking for.

If by "alt" you are referring to direct Bitcoin derivatives as is usually the case, you just need to read the whitepapers of the newly released alt-coins and decide for yourself which one makes significant changes that really bring something new. Obvious answers on technical grounds are NMC, LTC, PPC and XPM, but I may be missing some more recent developments. You can also keep a tab on new projects from former innovative coin creators like Sunnyking, the chances that their next coin will be up to their reputation are good.
If on the other hand, what you are referring to by "alt" is completly new designs that really depart from Bitcoin and are disruptive in their own way, then NXT, Mastercoin, Ripple and Ethereum is what you really want to look into. These are long haul projects and may not be immediately profitable as investments in the short term, but their impact will be dramatic when/if they finally make it into the main stream. To be exact, these aren't really "alt" coins but rather second generation crypto-currencies.

So to make a long story short, from an investor's perspective:
- if you are seeking immediate profits go for any pump & dump provided that it has enough hype, mine it first, and dump it within the first minutes where it becomes exchange traded
- if you are seeking short term profits identify innovative Bitcoin clones from respectable developers and wait for their value to increase as they are making it to leading exchanges and start being listed as possible contenders by technology and finance magazines.
- if you are seeking long term profits get involved with second generation currencies. This requires a leap of faith and you will probably not get any return on investment before years, but remember that this was the also the case for early bitcoiners.

Hey bryant.coleman, I'll stick to BTC    You Too? 

Every day a dozen or more new shitcoins are being created. At this rate, by the end of the year, we'll be having 5,000 different shitcoins.

They all have a vision pandher, if your a Miner, Mine BTC   

Yes there is one which has a vision - https://bitcointalksearch.org/topic/machinecoin-mac-552633

YEP 

^is that nuclear? LOL =)

Every alt that dies strenghtens bitcoin. Give them time.

Bitcoins go's up altcoins go's up, Bitcoins go down altcoins go's down. Yep, it's all based on BTC 
O one more pic  Just Mine it!

  To the Max  BTC
 

I started investing in a few alts but then realized that with each new alt it does not really dilute Bitcoin, it dilutes all alt coins.

The key to a currency is the Network Effect, where a currency reaches critical mass. Once that happens, it competes with established currencies. Bitcoin is on its way to reaching that point. No other alt is even close.

If I had a few extra days to work on it I would create an alt generator to create a new alt every hour. What do you think would happen to the alt coins? They would all be diluted to the point where nobody would ever touch them.

Bitcoin and a million alts does nothing to Bitcoin.

I consider the alts for the most part "experimental" coins, as some of their features and fixes make their way into Bitcoin itself.

Beyond simply existing however, most of them are just speculative playthings and not much more. In a sense, they kind of are like the rubies and sapphires of the crypto world. They hold value, but only speculatively and not because they actually offer something new or needed usually.

My theory is that eventually most of the alts will die off eventually because of the above reason. Without a real purpose or true innovation to offer there is simply no need for them. I believe over time, each mining algo will have a single champion coin.

Bitcoin/Litecoin more or less already fill the role of wealth transmission, we dont need any more of those. I think in the future, things will look like this:


Bitcoin/Litecoin/? = Gold Standard, universal currency. These coins are only instruments of wealth transmission as designed. Higher functions are limited for things like Colored Coins.

Mastercoin/Ethereum/Datacoin = Services coins, valuated by Gold Standard coins. Decentralized exchanges, insurance contracts, energy, you name it.

Nextcoin/PoS coins = Mobile "spending coin". These are not mined, so they are ideal for mobile transaction networks with fast transaction times. I can see these being useful for everyday transactions like buying milk at a grocery store.

This is the crypto-economy we are all building together. I have no idea if this is how it will be of course, but it will be exciting to see it all unfold.

Your GEM  lol

BTCS/BitCoin scrypt : : fwiw : : i've been loading the boat!*cough-wink*

https://www.mintpal.com/market/BTCS/BTC



^RADAR THIS GEMMMMM

It's like this 


Got it!    LOL

And then there's coins like the one you're making.  Zimbabwecoin.  We have Bitcoin.  We don't need a "Zimbabwe Coin". The fact that you're making a usless copycat that has zero chance of actually being used in commerce, makes you one of the scurrying cockroaches I mentioned above.  You're trying to get yourself rich.  Nothing more.  By being an unoriginal copycat, both of Bitcoin, and the gimmick from Auroracoin.  

If you really gave a shit about Zimbabwe, you would invest your efforts in getting Bitcoin propagated there.  

Sorry to be blunt.

-B-

      

There are way too many scam coins. I can see the allure in people creating more of them. Hell I created a couple for fun - but, not to scam people. I think we would be better off with just Bitcoin. Ordinarily I would say competition is good. But, when the "competition" has so many scams, it is just bad, in my opinion.