Topic: Are the Golden Days of Cryptos gone? (Read 4319 times)
Are you serious or just playing around. If you see the coinmarket cap all your questions will be answered the altcoin market is blowing up i still remember all of us were waiting for ethereum market to reach above 1 billion market cap but now it is more than 20 billion and coins like stratis has cap of 1 billion
Are the golden days of crypto gone asked in 2014 when they had not even started! Actually the content seemed to be have the golden days of mining gone and if by golden days mean mining in your bedroom and making a profit then I'd say so for the most part.
Are there still amateur miners out there making a profit or is it all farms and ASICS?
As for crypto itself it has yet to really reach out into people's homes, but barriers to adoption are coming down and new innovative alts are coming out all the time. I'd say we still have the real golden days of crypto to come and not just participating in coin generation.
Are there still amateur miners out there making a profit or is it all farms and ASICS?
As for crypto itself it has yet to really reach out into people's homes, but barriers to adoption are coming down and new innovative alts are coming out all the time. I'd say we still have the real golden days of crypto to come and not just participating in coin generation.
It's like the tulip mania in the 1630s, only a few will survive.
Ahh, the Dark Age. Pestilence anyone? A turnip perhaps?
on topic: I believe that order comes from chaos. The golden age has not arrived yet. Today we are still pioneering even if that only means tweaking existing code and making a quick a buck of it. Those days will pass, we will move on and in a year or two we'll be making jokes about the 'Wild West' days.
That is, if the community as a whole decides to put an end to these practices and not support shady dealings/coins. If not, a golden age will never arrive.
I like to believe it will.
alt coins have given themselves a bad name. it scares people away from the community as a whole. if there isn't something truly revolutionary, like a total game changer (not just a copy paste and little tweak), then the people trying to release should be shamed as scammers.
Crypto concept is cool, but BTC and alt-coins are like... you printing your own notes and asking people to believe in magic and value. I hope Govt's will look for a way to digitize fiat. Just my opinion.
Some movies you might like to look at... all I saw on youtube. "Money as Debt," "The Corporation," "Money Masters."
"Digitize fiat"... 90+% of money is just bits on a hard drive (or some form of ledger) somewhere. There are not enough notes to give people if everyone wanted them in hand.
"you printing your own notes and asking people to believe in magic and value" ... Amazingly this is pretty much the same as fiat. The difference being we just can't keep printing.
IDK how I came across but my intent was not to be rude (and I'm pretty exhausted). Just trying to point out that cryptos are as legit as the USD, AUD, GBP or any other fiat currency. I believe in "Money Masters" the narrator mentions a period in US history when there were many notes within the colonies, even one colony itself could have several. Eventually they were consolidated..... feel the same will happen in cryptolandscape.
But I'm brandy-new here so I really don't know what to expect. I believe the consolidation would make sense though.
if any Gov "digitizes fiat" it will be as per neutral control and it will be a crypto currency, they won't have any control over it, except for saying " we support this "
that one sentence and the viability of the government that said it will help determine net "value" .
Wow now I know what "DECENTRALIZED" means, it means BULLSHIT. Anyone having access to the FKINGCOIN.org website or being the OP on a thread can switch the wallet with a modified source and make everyone's coins worthless?
No I think you learned what CENTRALIZED means, as in the alt coin had such a small community that it was essentially one person.
All these altcoins are CENTRALIZED then not just goldcoin.
This guy akumaburn if he is the OP on the [ANN] thread, he basically is the god of that coin, he can manipulate the wallet, fork the chain, create a new fake chain and have the new updated 1.2 wallet download the "fake" chain which he created to have some other people's coins move into his account.
There is no "decentralization" here, we are just kidding ourselves.
Bitcoin may be different somehow, but still, someone (or a few) has (have) the password to update the QT wallet on bitcoin.org which could change everything in a snap. He could put a code in there to take the coins out of 1% of the Bitcoin owners and send them to his own account. No one would care about that 1% screa,ing their lungs out in these threads. Many may not even find out before its late. Such a thing could completely destroy all altcoins.
^^^ this is great < where did we find this guy ha ha ?
this is officially my favorite topic.
just love the name.
Crypto concept is cool, but BTC and alt-coins are like... you printing your own notes and asking people to believe in magic and value. I hope Govt's will look for a way to digitize fiat. Just my opinion.
Some movies you might like to look at... all I saw on youtube. "Money as Debt," "The Corporation," "Money Masters."
"Digitize fiat"... 90+% of money is just bits on a hard drive (or some form of ledger) somewhere. There are not enough notes to give people if everyone wanted them in hand.
"you printing your own notes and asking people to believe in magic and value" ... Amazingly this is pretty much the same as fiat. The difference being we just can't keep printing.
IDK how I came across but my intent was not to be rude (and I'm pretty exhausted). Just trying to point out that cryptos are as legit as the USD, AUD, GBP or any other fiat currency. I believe in "Money Masters" the narrator mentions a period in US history when there were many notes within the colonies, even one colony itself could have several. Eventually they were consolidated..... feel the same will happen in cryptolandscape.
But I'm brandy-new here so I really don't know what to expect. I believe the consolidation would make sense though.
Wow now I know what "DECENTRALIZED" means, it means BULLSHIT. Anyone having access to the FKINGCOIN.org website or being the OP on a thread can switch the wallet with a modified source and make everyone's coins worthless?
No I think you learned what CENTRALIZED means, as in the alt coin had such a small community that it was essentially one person.
All these altcoins are CENTRALIZED then not just goldcoin.
This guy akumaburn if he is the OP on the [ANN] thread, he basically is the god of that coin, he can manipulate the wallet, fork the chain, create a new fake chain and have the new updated 1.2 wallet download the "fake" chain which he created to have some other people's coins move into his account.
There is no "decentralization" here, we are just kidding ourselves.
Bitcoin may be different somehow, but still, someone (or a few) has (have) the password to update the QT wallet on bitcoin.org which could change everything in a snap. He could put a code in there to take the coins out of 1% of the Bitcoin owners and send them to his own account. No one would care about that 1% screa,ing their lungs out in these threads. Many may not even find out before its late. Such a thing could completely destroy all altcoins.
I don't know what you're smoking but don't do it anymore. At least not while you're on this forum.
Go back to the support section and do your homework again before even thinking of writing this things down.
Wait? Im smoking or are you living in denial? Just like the developer of a coin can switch the code to implement KGW he can also implement other code to take YOUR coins out of your WALLET anytime in anyway, maybe in percentages, ANYWAY he wants, he writes the CODE he makes the decision. Who is going to catch that? Even Apple cant find loop holes in their Safari and constantly gives updates. You think people on this forum can catch crooks like that?
You are the one who is in denial my friend. I am not smoking anything.
Exactly, I wrote a blog recently about this. Basically, too many new coins coming out and no new buyers means less money to go around. It seems to me as though most altcoins will die a slow death. The reason the devs keep making them is cos they net about $50,000 from their premine each and every time. A lucky few who watch altcoin releases like a hawk can make a small profit but nothing to justify mining being a full time job that's for sure. I stopped mining a few weeks ago because the electricity prices in the UK are atrocious. If things pick up again I will start mining but for now I'm done.
Nice username.
The safest bet is long-term holds on mature coins with exceptionally skilled devs. Sometimes a coin has to kiss a few frogs before finding its prince.
Well something got to change soon if any altcoin at all is going to survive, at the moment i see less and less activity on every coin except bitcoin :S
Altcoins have always come and gone. The difference then is that a coin took months to die out.
As it were, at the current time that entire process has simply been accelerated (to literally days) with the larger number of market resources such as exchanges, upcoming coin release scheduling, multipools etc. It's simply far easier to pump n dump and let die.
As it were, at the current time that entire process has simply been accelerated (to literally days) with the larger number of market resources such as exchanges, upcoming coin release scheduling, multipools etc. It's simply far easier to pump n dump and let die.
We had an era like this end of last year, but then it bounced back bigtime (a few journo articles brought new money in).
However this time the market is completely saturated and still more coins being pumped out at an alarming rate, more added to exchanges and more people draw into the latest pump n dump scams.
Too much greed, too many wanting quick profits, and few people even remembering the point to cryptocurrencies.
However this time the market is completely saturated and still more coins being pumped out at an alarming rate, more added to exchanges and more people draw into the latest pump n dump scams.
Too much greed, too many wanting quick profits, and few people even remembering the point to cryptocurrencies.
Exactly, I wrote a blog recently about this. Basically, too many new coins coming out and no new buyers means less money to go around. It seems to me as though most altcoins will die a slow death. The reason the devs keep making them is cos they net about $50,000 from their premine each and every time. A lucky few who watch altcoin releases like a hawk can make a small profit but nothing to justify mining being a full time job that's for sure. I stopped mining a few weeks ago because the electricity prices in the UK are atrocious. If things pick up again I will start mining but for now I'm done.
There's a huge amount of new blood coming into crypto currencies, they've only been paying attention since Dogecoin kicked off so are under the mistaken impression that the trick is to get in early and get out on the first pump. They haven't seen what a real price hike looks like yet and are just hopping around from coin to coin looking to make a quick buck. When bitcoin rallies again and the strong alts skyrocket they'll realise how much they've thrown away and settle down.
Just work on stockpiling the stronger coins. The landscape will be very different 6 months from now.
Just work on stockpiling the stronger coins. The landscape will be very different 6 months from now.
Excellent advice.
Once the Wallstreet money starts flowing in the cream of the altcoin crop with be rewarded the most. Coins with strong branding will rise to the top. Then when word gets out there's a new Satoshi in town, the markets will certainly rally.
There used to be a time when miners used to mine altcoins and just hold them as an asset. I could just choose an altcoin, keep my miner pointed at for several weeks and finally sell it for a bargain (Not just dump it for the highest bidder). There were times when the value of altcoin just used to go up with difficulty level.
Now the altcoin scenario is highly saturated. New coins coming everday and miners are rushing to quickly mine-pump-dump the coins. Buy orders are also shrinking for most of the alts. Adding to this is new exchanges being announced for some of the new alts. So I cant just keep my miner pointed at a coin for more than 2 days. Ironically the value of some of the coins drops with increasing difficulty. A look at most of the topics in Alternate cryptocurrencies section just seem to be self promotion posts.
Simply I used to make 0.006 BTC per day with my 640Kh/s when BTC was 800 to 1000 USD. But now I'm not able to reach those levels (except when I caught the trains with Maxcoin, Myriad...) with BTC valued at 630 USD. Am I the only small scale miner here experiencing these or are you guys all switched to mining farm?
There's a huge amount of new blood coming into crypto currencies, they've only been paying attention since Dogecoin kicked off so are under the mistaken impression that the trick is to get in early and get out on the first pump. They haven't seen what a real price hike looks like yet and are just hopping around from coin to coin looking to make a quick buck. When bitcoin rallies again and the strong alts skyrocket they'll realise how much they've thrown away and settle down.Now the altcoin scenario is highly saturated. New coins coming everday and miners are rushing to quickly mine-pump-dump the coins. Buy orders are also shrinking for most of the alts. Adding to this is new exchanges being announced for some of the new alts. So I cant just keep my miner pointed at a coin for more than 2 days. Ironically the value of some of the coins drops with increasing difficulty. A look at most of the topics in Alternate cryptocurrencies section just seem to be self promotion posts.
Simply I used to make 0.006 BTC per day with my 640Kh/s when BTC was 800 to 1000 USD. But now I'm not able to reach those levels (except when I caught the trains with Maxcoin, Myriad...) with BTC valued at 630 USD. Am I the only small scale miner here experiencing these or are you guys all switched to mining farm?
Just work on stockpiling the stronger coins. The landscape will be very different 6 months from now.
Nothing has changed except the actual proof of what was already suspected, that mt gox were mismanaging clients funds and were caught out.
As per any currency, stock or commodity these are ruled by perception and crowd sentiment and can be altered at any time by future events both positive and negative based on greed and fear.
I talk to people all the time and the average layman are not involved in crypto at all or have a very vague idea as to how bitcoin actually operates.
The resemblance is similar to the beginning stages of the internet with some getting involved, others sitting on the sidelines watching and others laughing in skepticism as they do not understand the implications of what is currently happening.
The tools and vessels will alter and adapt over time but the idea is just too powerful to be ignored.
Do you really think that governments want to use paper currency in the future?
How are type writer sales going, encyclopedias, tape based storage, yellow pages?
As per any currency, stock or commodity these are ruled by perception and crowd sentiment and can be altered at any time by future events both positive and negative based on greed and fear.
I talk to people all the time and the average layman are not involved in crypto at all or have a very vague idea as to how bitcoin actually operates.
The resemblance is similar to the beginning stages of the internet with some getting involved, others sitting on the sidelines watching and others laughing in skepticism as they do not understand the implications of what is currently happening.
The tools and vessels will alter and adapt over time but the idea is just too powerful to be ignored.
Do you really think that governments want to use paper currency in the future?
How are type writer sales going, encyclopedias, tape based storage, yellow pages?
Wow now I know what "DECENTRALIZED" means, it means BULLSHIT. Anyone having access to the FKINGCOIN.org website or being the OP on a thread can switch the wallet with a modified source and make everyone's coins worthless?
No I think you learned what CENTRALIZED means, as in the alt coin had such a small community that it was essentially one person.
All these altcoins are CENTRALIZED then not just goldcoin.
This guy akumaburn if he is the OP on the [ANN] thread, he basically is the god of that coin, he can manipulate the wallet, fork the chain, create a new fake chain and have the new updated 1.2 wallet download the "fake" chain which he created to have some other people's coins move into his account.
There is no "decentralization" here, we are just kidding ourselves.
Bitcoin may be different somehow, but still, someone (or a few) has (have) the password to update the QT wallet on bitcoin.org which could change everything in a snap. He could put a code in there to take the coins out of 1% of the Bitcoin owners and send them to his own account. No one would care about that 1% screa,ing their lungs out in these threads. Many may not even find out before its late. Such a thing could completely destroy all altcoins.
I don't know what you're smoking but don't do it anymore. At least not while you're on this forum.
Go back to the support section and do your homework again before even thinking of writing this things down.
I use to rent Scrypt miners sometimes. In Jan 2014, the cost of rental was around 0.02 BTC Price/Mh/day, today the cost is only 0.0075 BTC Price/Mh/day (http://www.betarigs.com/) .. and numerous rigs are available now. Back then Scrypt Rig owner's were able to recover the cost of investment in 3 months time, but with present scenario..maybe it would take atleast 8 or more months.
People always say Wall Street, Hedge fund group entering btc scene, but as like most of them I am losing hope. With BTC at ~$600, all those wall street, hedge should have entered and price spiked again.. I lost quite a money on betting alt-coins. Accepting it and trying to recover.
With BTC malleability issue and numerous security issues/hacks going on, ..I do not have a good feel about BTC's future.
Crypto concept is cool, but BTC and alt-coins are like... you printing your own notes and asking people to believe in magic and value. I hope Govt's will look for a way to digitize fiat. Just my opinion.
People always say Wall Street, Hedge fund group entering btc scene, but as like most of them I am losing hope. With BTC at ~$600, all those wall street, hedge should have entered and price spiked again.. I lost quite a money on betting alt-coins. Accepting it and trying to recover.
With BTC malleability issue and numerous security issues/hacks going on, ..I do not have a good feel about BTC's future.
Crypto concept is cool, but BTC and alt-coins are like... you printing your own notes and asking people to believe in magic and value. I hope Govt's will look for a way to digitize fiat. Just my opinion.
Oh , bitcoin is not growing by 30% a month. Panic everyone
))There is no issue with the code. The problem is with the users and the idiots (scammers) behind the services.
If you're going to use a fork for chopping wood , something bad will happen , just like int he "possible" gox malleability issue.
Wow now I know what "DECENTRALIZED" means, it means BULLSHIT. Anyone having access to the FKINGCOIN.org website or being the OP on a thread can switch the wallet with a modified source and make everyone's coins worthless?
No I think you learned what CENTRALIZED means, as in the alt coin had such a small community that it was essentially one person.
All these altcoins are CENTRALIZED then not just goldcoin.
This guy akumaburn if he is the OP on the [ANN] thread, he basically is the god of that coin, he can manipulate the wallet, fork the chain, create a new fake chain and have the new updated 1.2 wallet download the "fake" chain which he created to have some other people's coins move into his account.
There is no "decentralization" here, we are just kidding ourselves.
Bitcoin may be different somehow, but still, someone (or a few) has (have) the password to update the QT wallet on bitcoin.org which could change everything in a snap. He could put a code in there to take the coins out of 1% of the Bitcoin owners and send them to his own account. No one would care about that 1% screa,ing their lungs out in these threads. Many may not even find out before its late. Such a thing could completely destroy all altcoins.
These cycles come and go. Just mine and hang on!
Wow now I know what "DECENTRALIZED" means, it means BULLSHIT. Anyone having access to the FKINGCOIN.org website or being the OP on a thread can switch the wallet with a modified source and make everyone's coins worthless?
No I think you learned what CENTRALIZED means, as in the alt coin had such a small community that it was essentially one person.
Jump to: