Are the Golden Days of Cryptos gone? - page 3.

Ix

full member

Activity: 218

Merit: 128

Quote from: brooklynite on March 13, 2014, 03:18:15 AM

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?

I have no idea if what the other poster said is true about goldcoin, but if there was any bit of a community at all, someone would/should have stepped up to keep the original fork going. It's a big blow to the currency though and then the exchanges might become the decision makers.

ScroogeD

member

Activity: 70

Merit: 10

█ Scrooge D Silver █

It's like the tulip mania in the 1630s, only a few will survive.

brooklynite

sr. member

Activity: 266

Merit: 250

Quote from: ?? on ??

Yes, and the endless threads saying "Stop making so many coins" should have tipped you off that this was going to happen.

I think its the opposite. We need many many more coins to spread the hash power. We are not getting enough coins so everyone is focusing on limited number of coins.

brooklynite

sr. member

Activity: 266

Merit: 250

Quote from: ?? on ??

Quote from: bl0ckchain on March 12, 2014, 10:41:08 PM

Quote from: theomoplatapus on March 12, 2014, 09:53:56 PM

Doubtful that its gone forever. I wouldn't be surprised if it changes dramatically if/when bitcoin takes another spike in price with Wall St entering the fray. I think its much more likely that the alt markets are cyclical.

Yes. This is just a slow cycle. I think from a mining/investment perspective you're going to need a longer outlook than 2 days. For example, take Goldcoin (GLD) that has a new java client coming in Spring. Mine that now and continue holding into June. That strategy should net you a sizable return.

I think Goldcoin may have deleted the original goldcoin, making all the original coin holders lose all their money,

and then created a new coin, that they named goldcoin again, but this time they premined it and kept the coins in a tight knit circle of people, in order to try and prop up the price of the coin.

But godlcoin screwed over alot of people, who lost all their investment on the original goldcoin that got deleted

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?

BitCoinPokerBro

hero member

Activity: 826

Merit: 1000

Quote from: anteater2009 on March 12, 2014, 09:37:28 PM

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?

I'm willing to bet the crypto erra isn't over but scrypt algo is as far as profitability goes. Which proves a bit of a problem for newbie miners or anyone who mined scrypt with gui miner. For the last 8 or 9 months that's all I've ever used to mine because it's easy and already dialed in for practically every video card currently available. The newer scrypt-n, Keccek, and multi-algo coins will dominate the market being the most profitable vs ltc simply because these will be gpu mineable and asic resistant for the time being. The problem again is I'm sure there are many people out there like me that do not know how to dial in a miner (or even were to start) for other algo's using cg miner based command line software like vertminer, sgminer etc.

jonnysomething

member

Activity: 98

Merit: 10

I'm excited to go forward with my idea for a coin, because it's not going to have the problems today's coins face.

coins are listed on exchanges at launch, that's the problem.

kelsey

legendary

Activity: 1876

Merit: 1000

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.

bl0ckchain

member

Activity: 98

Merit: 10

Quote from: theomoplatapus on March 12, 2014, 09:53:56 PM

Doubtful that its gone forever. I wouldn't be surprised if it changes dramatically if/when bitcoin takes another spike in price with Wall St entering the fray. I think its much more likely that the alt markets are cyclical.

Yes. This is just a slow cycle. I think from a mining/investment perspective you're going to need a longer outlook than 2 days. For example, take Goldcoin (GLD) that has a new java client coming in Spring. Mine that now and continue holding into June. That strategy should net you a sizable return.

theomoplatapus

sr. member

Activity: 322

Merit: 250

Doubtful that its gone forever. I wouldn't be surprised if it changes dramatically if/when bitcoin takes another spike in price with Wall St entering the fray. I think its much more likely that the alt markets are cyclical.

anteater2009

newbie

Activity: 49

Merit: 0

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?

Topic: Are the Golden Days of Cryptos gone? - page 3. (Read 4290 times)