Topic: Dangerous to invest in new Altcoins? - page 4. (Read 6434 times)
newbie first post , just ignore me
NXT seems promising other than that all is pump and dumb
NXT its not pump and dump, it is very legit. Very skilled people behind it! 
Someone is about to release an altcoin generator. Next month we will have 1000 new coins. Including BitPopCoin
I think it is worth a gamble on the ones that show some improvements. But the community around it is mainly what matters. But it is probably best to put any profits into BTC as a precaution and just let your original investment ride or fall. Many people just like to gamble on an exchnage purley on market movements not the fundementals or community support of a coin. More people are gamblers now than I have ever seen in my life.
It definitely is a very high risk investing in Altcoins, especially in new ones. However, on the other hand, there is also a slight first-movers advantage, and most likely you will be able to make a profit from them. Of course, this is also provided you selected the right one, considering that there were more than 10 new alt coins produced in the last 2 weeks alone.
If you get in early enough, people will be giving it away for free. You could just ask, or maybe you could find some faucets. Or buy like a couple dollars worth instead of buying. I assume you'd wanna buy these altcoins to sell them at a higher price. Even if it's an obvious pump-and-dump, you can still make money by either dumping at the right time or buying after the value drops and selling if it goes back up.
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I think for Altcoin, it is ok to invest in small amount. It is like buying the lottery. If one of the altcoin goes up in the future, then you gain.
Sounds more like a risky investment than a lottery.
I think for Altcoin, it is ok to invest in small amount. It is like buying the lottery. If one of the altcoin goes up in the future, then you gain.
There's also the idea that cryptocurrency is still, despite much publicity, a very new thing.
I will be interested to see how long the altcoins can sustain themselves once the 'dust settles' - if it ever does.
I am not sure as to whether BTC will eventually be the only true legitimate digital currency around or whether LTC and others will be able to survive.
There surely must eventually be some control over the number of currencies springing up. As someone posted above, altcoins are purely the product of programmers seeking to make a quick buck. The pump and dump nature of multiple-currency pools reflects this.
I will be interested to see how long the altcoins can sustain themselves once the 'dust settles' - if it ever does.
I am not sure as to whether BTC will eventually be the only true legitimate digital currency around or whether LTC and others will be able to survive.
There surely must eventually be some control over the number of currencies springing up. As someone posted above, altcoins are purely the product of programmers seeking to make a quick buck. The pump and dump nature of multiple-currency pools reflects this.
Most coins are just pump and dump. Very selected few are worth the investment.
IMO the hype on DOGE now is terribly overrated.
IMO the hype on DOGE now is terribly overrated.
Doge is doing pretty well. It's because it's more accesible to the mainstream and it just seems less serious and techy, more fun. That's my guess.
You should always try to understand and try out things before investing in them.
There are a lot of faucets, and wallet is a free software, so just spend some time trying out each currency you are interested in.
By seeing the differences of all crypto you can choose the best ones.
Some things you can explore:
What is proof of work?
What is the difference between sha256 and scrypt?
How coins are mined?
Who are the developers?
Does the coin has a good marketing and dedicated community?
There are a lot of faucets, and wallet is a free software, so just spend some time trying out each currency you are interested in.
By seeing the differences of all crypto you can choose the best ones.
Some things you can explore:
What is proof of work?
What is the difference between sha256 and scrypt?
How coins are mined?
Who are the developers?
Does the coin has a good marketing and dedicated community?
Most coins are just pump and dump. Very selected few are worth the investment.
IMO the hype on DOGE now is terribly overrated.
IMO the hype on DOGE now is terribly overrated.
I would invest (very small amounts) on some of the coins, as sometimes some of them suddenly x10, but read about them, I think this is a quite interesting webpage to see which ones are scamcoins:
http://altcoins.com/scamcoins
http://altcoins.com/scamcoins
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Hi guys,
I was wondering if it is dangerous to invest in new Altcoins? I mean, when you look at all the charts, every new coin launches pretty high, or it increases to a high peak and after that it decreases every time. Lots of altcoins are freefalling. So, the question is, are the lot of them a pure pump&dump scheme or a scam so the developer can cash in pretty big? I mean what is the point of all the altcoins when they don't "innovate" over the altcoins; i.e. NXT/QRK coins are indeed an innovation over BTC in the sense it has at least another encryption method.
I was wondering if it is dangerous to invest in new Altcoins? I mean, when you look at all the charts, every new coin launches pretty high, or it increases to a high peak and after that it decreases every time. Lots of altcoins are freefalling. So, the question is, are the lot of them a pure pump&dump scheme or a scam so the developer can cash in pretty big? I mean what is the point of all the altcoins when they don't "innovate" over the altcoins; i.e. NXT/QRK coins are indeed an innovation over BTC in the sense it has at least another encryption method.
If we're being honest most are just get rich quick attempts. Very few offer anything new or have any longterm goals or have any longevity. So yes, investing in altcoins can be a dangerous investment, but so can any other investments.
NXT smells Ponzi scheme ...
I wouldn't even put money into any altcoin unless it's been around for at least a month while able to hold a value. Before then you're better off mining it. Even with an old laptop I'm able to get a few hundred of these altcoins the first few days they come out.
Also you have to realize that in the long run a majority of these altcoins will be dead or near worthless if they haven't been able to prove their worth and importance, so like all coin trading, sell at peaks and buy back at dips. I wouldn't hold on to any of these unless you only spent a few hours mining thousands of them and don't care (like our doge friend).
Also you have to realize that in the long run a majority of these altcoins will be dead or near worthless if they haven't been able to prove their worth and importance, so like all coin trading, sell at peaks and buy back at dips. I wouldn't hold on to any of these unless you only spent a few hours mining thousands of them and don't care (like our doge friend).
I think it depends on whether you really BELIEVE in the altcoin for its unique characteristics, or if you just want to make a quick buck. Chances are if you feel one of those ways about it, many other feel that way too. If it's just to make a quick buck theres a good chance it will be a pump and dump that eventually fades away. If it actually brings something unique and new it has potential to be big, as all coins have much room for growth in the future, atleast in my opinion. Personally I am only seriously intrigued by Namecoin as a serious longterm altcoin, as the alternative .bit domains seems to me like it could have some serious benefits, especially as internet censorship becomes a larger problem as times moves on, bundled with some ease of access issues that should be fixed in the future. Just my opinion.
95% of coins coming after BTC don't represent anything else, but an attempt to cash out on crypto currency gold rush. very few offer something new or have useful application. but even these represent a risky investment in conventional investment sense.
the best investment is to mine perspective coins at launch, when the difficulty is low.
the best investment is to mine perspective coins at launch, when the difficulty is low.
Amd just turned profitable
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