Topic: cryptsy and market saturation (Read 2812 times)

WTF

You are a gentleman and a scholar !

This

The problem I see with coins like SexCoin or most coins made to purchase one product is that they just aren't necessary. One big privacy-oriented coin would do the job of SexCoin just fine... but it would also have a hundred other uses for people who want to keep their transactions anonymous. I'm thinking that long-term there will be one or two big privacy-focused coins that get used for things like this. Instead of going through the hassle of exchanging whatever coin to sexcoins to buy your dildos, why not use a single coin that offers all the same protections and that you can use in a variety of markets?

IMO, the fact that you'd have to exchange for SexCoin and keep a SexCoin wallet somewhere actually makes it less private than just using X privacy coin...

I see it a lot in the alt market. Coins spring up every day for this or that, when some of the established coins will work perfectly well for what they're trying to do once the specific industry is interested in cryptos.

I think the bottom's going to fall out of the alt market very soon and leave us with 4-6 really solid coins to battle royale with eachother for a while.

I wouldn't fault them at all for adding MazaCoin, what else did they add the last couple days, any?

an exchange like mcxnow.com? *puts guard up cause he knows whats coming*
 
I agree we do have to at least acknowledge whats going to happen here, sure its a free world, free speech, free market, however, i think we have a pretty mature and decent community balance..i know some would disagree but we do and i do think its coming to that time where we may need to start giving people the tools to understand that this is becoming a very diluted market and the skills now are extremely diluted.

It will be a very delicate transition or learning process because a lot of people are in this game to take what they can before it runs out, but i am of the mind of trying to sustain what we have over a long period and will make a lot more money and a lot more innovation

I think we need to at least initiate something and not let it just get a lot worse before we actually do something but at the end of it all i foresee elite exchanges and infrastructure choosing decent secure coins over narly wild flimsy ones which will inevitably create a new class of lower and upper alt-coins. the alt-coin space is highly spread out thined out and doing its own thing no one is fully working towards some sort of alt-coin foundation type deal where there is at least some sort of edikette and procedure devs must at least adhere to before being accepted by the community, not everyone is a clever little coder like most the guys here and thats what we need is some real structure setup so people have a place to go to see whats really expected of a coin...without (pump dump scam and premine) words all through peoples written opinions

This is prolly a pipe dream but one i for one will contribute to see happen around here because most of you guys deserve the pat on the back for holding the torch hanging around, but frankly this forum has become a bit of a playground and is now time for it to become a little more serious..just my opinion

Honestly I didn't think so. Was only using it as an example to show the legitimacy of anonymous developers. Glad to hear someone else says it's not Nakamoto either.

If you truly feel that some idiotic clone created by the "rich and smart people" is the best that some "poor people" can afford then this is still just the free market taking it's dues. Nobody's forcing these people to buy these coins.

A serious flag should be raised as to legitimacy when these same people go to the exchange and see one or two buy and sell walls surrounded with nothing but dollar buys every where else. If they can't do that then I guess money just isn't for them. These people should be looking for a Zeitgeist society where money doesn't exist and everything is traded based on need.

End of the day it's the coin and the market that speaks for whatever these people are buying into. Not the face of the developer. Not the daily hype. Not grand promises. If you feel like your money should have bought more then you should have spent it on something else. It's wrong to say that these people are being exploited. They are not. They made the decision with consent that one coin was to be traded at one rate when they clicked the buy button. You just don't get to blame the seller.

I'm with you in that it sucks to see people lose money, but end of the day nobody forced them to use their hard earned fiat to purchase a few bytes of meaningless data. If they're buying something they don't understand then it's on them. It takes years for children to understand what money is, so I find it laughable when people just throw that money at crypto like it will make them rich.

Do you really feel that 200 cryptocurrencies should exist? With more being added daily some of these need to be slaughtered. The market's just the grinder man.

How does adding shitcoins to cryptsy not let them die off? Look at stablecoin, fedoracoin, 42, auroracoin, caps, earthcoin, leafcoin, lottocoin . . the list goes on and on. These are and will always be shit coins. If the price rises it's because of a pump. If you think you deserve other people's money by investing in them and waiting for a pump then you're a dick and probably don't have a hot girlfriend.

Edit: I don't mean you personally, as you're arguing against shit coins in the first place. Meant some random person.

Off topic for the thread but the Nakamoto you are suggesting here I can say with 100% certainty is not the creator of BTC.

Anonymous developers are an issue because no one can be held accountable. Bitcoin didn't start out as a scam and potentially wasn't anonymous. It was the starting foundation of every crypto, and had the dev been one of the piece of shits you see today, then it wouldn't have been successful.

If the person currently being called the creator of Bitcoin is actually the creator, him putting his name on the coin shows he did not have intentions of being anonymous, even though anonymity would have been an easier option back then. Bitcoin was a project created to change the world, and anonymous developers have free rein to take advantage of those who don't understand it. Rich and smart people taking advantage of poor people is the exact thing Bitcoin was created to help fight.

Adding shitcoins to cryptsy doesn't help them die off... if they, as you say "drag out over years" (LIKE BITCOIN DID) without being on exchanges, they might actually have a chance at succeeding.

Well there's something I agree with you on. I do believe p2p exchanges are the best way forward for cryptos.

How are anonymous developer's an issue? Nakamoto still is not known for who he exactly is until just yesterday. Even then, nobody can know for sure. Free market gonna crush regulation any day dude. If you invest in a coin that sounds familiar or brings shit all to the table you better realize that you should be prepared to lose everything. Most likely sooner rather than later.

IMO cryptsy looks better for adding shit coins. Gives them the chance to die off now rather than drag it out over years of people not knowing which way is up.

I often wonder if its just the same BS few people who make up all these coins.

Taking on something that big, they should have team a dedicated to verifying coins. They profit from having more coins, they look bad by offering shitcoins. Have an application process, and anonymous developers are not welcome.

There are steps they could take. They just don't, to maximize profits.

At the moment, exchanges are centralized single points of failure and subject to easy regulatory control. What a p2p currency needs is a p2p exchange protocol, ie: exchange functionality should be built into each wallet.

~~XCB~~

Sounds like the old cryptsy before they realised that being selective with coins is akin to slowly committing hari kari. Thank fuck for other exchanges.

Well that would make sense, atleast it would rule out obvious scamcoins 

Changes are sure to come around very soon. CoinPayment is being closed down for facilitating money transfers without proper licensing, and the exchanges will be announcing the same thing soon I'm sure, unless they pay up to the Government. The small exchanges will be forced to close, and a stronger system will emerge.

The sooner exchanges are forced out of the business, the better. Do you think bitcoin grew because there was a million exchanges around when it launched? No, it grew because it slowly built a demand for itself. Pretty much every coin you see is useless and they're destroy the crypto market. Before you mine or invest in a coin, think to yourself "what purpose does this coin serve?" Don't read the disillusioned ramblings of the coin creator or early investors, those are the ones that stand to profit big if there coin catches people's eye. Ask yourself that question.

Good ideas:
BitCoin - a cheap way to send money on over the internet without banks, anywhere. Makes sense.
LiteCoin - a successful alternate to the main currency. Not as valuable, but is like silver to bitcoin's gold.
WorldCoin - Sure, 1 worldwide currency sounds like something that could exist some day.

Coin with a potential future use:
TaxiCoin - Unrealistic, but in app currencies could be used for payment in the future.
SexCoin - A private way to make XXX purchases online with no paper trail? Makes sense.

Stupid coins:
BBQCoin, BEECoin, Ron Paul Coin, MaxCoin... what longterm fucking purpose do you think these coins serve? Will your grandmother want some bbqcoin to spend somewhere? Will your cousin have any interest in a coin that uses screenshots from BEE Movie in it's advertising? If you try to tell them that some guy named Max is going to change the world by making his own currency, do you not think you'll sound like a fucking Jehovas witness?


I like to be able to play around with new coins as much as the next (I made a few dollars on Maza, by luck) - but I would rather play around with coins that are legit. If there's less on the market, that's completely fine. Could you imagine if this was how the stock exchange was ran?

This is all just my opinion, feel free to debunk.

What standard is that ? Your standard ? The bitcoin standard ? How about an exchange that only traded the coins that kelsey has ?

LOL

~~XCB~~

Blame all the mudda fudder sites i.e mintpal, for accepting bribes so these scammers can dump their premines on to the public.
No scuples, no coin analysis, no integrity, just plain ol' GREED.