Topic: Anyone else tired of new coins? (Read 2358 times)

The cost of launching and mining a coin is fast beginning to outweigh the profit from creating one. Once it is unprofitable it will have to slow.

As long as people keep voting with their money, it will continue.

Very sad to see such a waste of hardware, time, and electricity.

Let's call this syndrome "coin fatigue". ;-)

Anyway, we indeed haven't seen anything yet. By this time next year I estimate we'll have 5,000+ unique blockchains and 100,000+ new tokens created on the various meta-layer protocols.

You guys had better start thinking about this as something other than "currency", because in the event that the world isn't very interested in that particular application (as it seems), the much-feared issue of dilution is certainly inevitable.

You are 100% correct and it will come the the stage where only genuine once like bitcoin have value. The endless coins only dilute endlessly. Here have a look, just concentrate on the first paragraph:

https://bitcointalksearch.org/topic/is-pos-dead-667594

Yes exactly. coins that have a special niche are decent.

True - too many coins claim to be innovative but most of them are 1.0 clones of Bitcoin with a few small changes.  It's ironic when a coin claims to be innovative and yet they appear to be using a reskin of Bitcoin's wallet.   

Actually tired of the bullshite flogged off as innovative.

yeah, too many people want to get rich by quick scheme
or we call them greed people
if that coin bring no innovation (just fork of... descendant of.. copy of...), just leave it. high chance they will become scam coin
the problem is some coins have better innovation, and strong support, many people attracted by it
but dev is too greedy and run after dump coins in his possesion
recent example is sharecoin, a coin who has its own exchange to support coin's price
maybe the best way is forget about altcoin and just focus in bitcoin

There's easily 800 to 2000 "alternates" to Bitcoin by now.

You technically have better odds playing scratch tickets or lotto tickets, since many of those games have odds like 1 in 20 to 1 in 100 to win the $20 or $50 prize.  As others have suggested, alternates is gambling (unless you have a clue as to what you are doing, and often most do not).

Of course you can do your homework and make good informed investment decisions but that's a strong assumption and asking too much from "average joe".  Hint:  stick to the 2.0 coins.  The likelihood of a new 1.0 $hitclone coming anywhere close to Bitcoin is as likely as the President being hit by lighting 10 times in a single day.

Most of these coins are just trying to attract the same crypto market with the hopes of getting rich.

While it seems they come like 10 a day…each coin was new at some point.

Very tired, don't bother looking at them any more.

I think it's because so many get-rich-quickers have been attracted to crypto currencies, who want to emulate bitcoin early adopters.

The problem is, of course, they're not bringing anything new to the table (for the most part). Zero innovation compared to what was actually innovated by bitcoins.

I'm only interested in bitcoins and devcoins myself. Machine mining vs human mining.

I agree, and it will be the reason why "crypto  currency" will never go as far as it should.

Check this out
http://www.discovery.com/tv-shows/jungle-gold/videos/robbed-at-gunpoint.htm

No, I don't watch telly much, and I doubt that show is aired where I live.. but it sounds hilarious.

Jungle is a big place and most might be looking for El Dorado, but not all.

Thanks for extending my metaphor!

You ever seen that show jungle gold? People go into the jungle looking to get rich but fail, at the end of the season try to buy 2 kilos of gold for great price. The guy gets in the jeep and drives away from the gold when they come to a fallen tree in the road and are robbed for the gold. They lose 30k+ in money and 50K+ in gold.

Its exactly the same thing, people come into crypto looking to mine and strike it rich. They go to the guy who offers them the best deal only to get robed of both their mining power and money.

I too am tired of new coins.  Even when there are coins that seem to promise something new and unique I don't see how they will break through.  Too many people are just forking a coin and trying to cash in on any little pump they can get when/if it hits an exchange.

I am encouraged though by some of the responses on this thread.  I like the idea developers taking the quiet path for their truly innovative coins.

I'm sorry to hear this - I was very curious to see what
you would come up with.

But what would have to change so that you could find
satisfaction? Different audience - or regulation from "outside".

There is no compulsion for any dev to jump thru hoops. I've
been following NUD lately, a coin with some interesting features,
and the dev couldn't care less about the cries of gimme this
gimme that, and that's refreshing.

People compare crypto scene to wild west, my own metaphor
is jungle. Sure, you could get eaten by a jaguar but you could also
find some interesting exotic plants.

I don't need to.  I got lucky with Bitcoin; Nothing too spectacular, but I quit my job, and my house and retirement are paid for.  Thank you Satoshi.

So aside from the occasional "gig" working for someone else with a cool project, I code for personal satisfaction rather than for money. 

Given the current, dishonorable state of the cryptocurrency market, and the predominance of people who absolutely cannot see it as anything *other* than a potential scam and/or a potential investment, and the inherent fact that as an investment it is almost bound to fall short of their ridiculous expectations causing stupid rage?  Also given that if released a lot of them would be using it to scam others, or demanding development I have no interest in to make its "investment prospects" better by making it easier for them to scam others with it?    I mean, this is the set of patterns I see in the alt markets right now....  No, I don't think I'd find that very satisfying.

So today I'm coding on a roguelike game instead - competing with nethack is a project GUARANTEED to make zero money ever, but at least it won't contribute to any scams and people won't get butthurt if I refuse to provide them with ways to get others to "make easy payments" so easy that they make them without even realizing where they're going.

just follow alt-coin world and you will feel that wild west
many greedy people, many scammers, many FUD and others

4.95% premine make me say goodbye for that coin
try spend more your time in altcoin section and you will able to figure out
mostly based on your experince after reading many altcoins thread
new scam coin usually has same method with previous scam coin

As of today there are 75 Blackcoin clones that didnt remove the chinese blackcoin name from their wallets