Topic: Dangerous to invest in new Altcoins? - page 6. (Read 6456 times)

I just started this bit coin thing. I never mined anything before. I did buy 6000 doge coins. Is this good or bad?

Unless you really believe in them its probably just better to pump and dump. Dogecoin is forever though.

I almost bought NXT, its not easy trading altcoins, how can a person really know what is going to happen? With the Keiser report and the QRK pump and dump, it was hardly anything at all, also happens all the time with stocks in the same manner. Now bitcoin.. wow, someone is making alot of money when it drops and rises.

Sorry Mauerbrecher I am not sure about altcoins but I guess it’s a good time to invest in crypto-currencies as they are full of potential these days> I myself have invested large amount in bitcoins and yeah for sure I will research on altcoins too. If they seem good I shall invest myself and shall even inform you guys on this forum.

I was 99% sure of it , but i like to test people that believe every insertnameherescamcoin is the next big thing.

Sorry, the ...... after skyrocket was meant to imply that I actually have no idea 

Oh really , and why would it skyrocket?
Any solid arguments?

I think there are a few good alts out there at the moment - Anoncoin looks very promising and I have a stash of them waiting for the price to skyrocket.....

the higher the reward = the higher the risk

While it is probably a bad idea to invest in altcoins, they often have higher mining returns for people like me who have a spare gaming rig and rent-included electricity.  A week of Doge mining made the previous week of LTC look like a joke.

Many of those alt-coins are made by programmers solely looking to get profit.
They changed the block award, block time, difficulty adjustment time, etc, randomly, and made a fancy name, but without a single new feature added. I see no values in those coins at all.

Hi Burnum. Yes I read a lot that altcoins are dangerous. I see the ridiculous rises and falls in the charts. Now this with QRK. I bought QRK, but then people said this Keiser report with Bill Still would be a pump before the dump. Seeing the charts, you actually see the dump. Today I woke up and booted the PC, saw that NXT had risen about 200%. I could cash out with a 4 times profit of my initial input. However, I chose to cash only my input and continue with still keeping the rest of the coins (seen the value of each coin quadripled). Next thing I noticed was that many people started to sell NXT. I watched the sales carefully and saw people just going lower and lower with their selling prices, unintentionally "dumping" the value of their coin.

Now you could say that the altcoins are just there for pump and dump, which could be partially true. However, every altcoins (even BTC) could be seen as a pump and dump, because of the crazy increases and decreases of their value. While the problem lies with the owners of the coins themselves. When they see the coin has risen in value, each of them gets the look of $_$ in their eyes and tries to sell an x amount of their coins. Because people buy the cheapest coin, everyone is going to lower their prices, yielding a decrease of the coin value.

Pump and dump all of them

New altcoins are very much dangerous to invest in seriously, when investing in altcoins it may be best to invest in something with a little history and with a dev team moving forward, if you had invested in doge before it was on an exchange there was high risk of the bottom falling out at any time and a person could have lost all of their investment, who is to say it was a pump and dump though? it is a meme coin, hilariously fun and not worth as an investment unless you enjoy the entertainment.
I currently collect Bernankoin and at a steady rate, although I am constantly reminded by the community that it began as a big joke much like doge, I like the joke, I like sending others BEK, I like the fact that it draws attention to the FED and how impossible it is to continue with unsound economic principles and remain independent, I like the fact that it is modeled like the current FED economics, no new innovations, no plans to improve beyond FED policy, I give it value because it is entertaining to me, that is the point of this coin, it has no value except we give it value.
Stablecoin makes some sense to people who are looking for decentralized coin options and anonymity, they have a dev team working towards their goals and a growing community, still an altcoin and still high risk.
Quark is using more security to secure it than bitcoin, has a dev team actively working toward their goals and a strong group of supporters, trading on many exchanges, bounty's to further its progress, still an altcoin and still a risk.
altcoins are a risk, high risk investment, but then bitcoin has been just that to some also, depending on individual investing targets.
Who can say which way either one of these coins can go? If a developer makes the wrong enemies in the community then obviously the coin is going to get bashed on, there is no one person ATM that can convince me completely that any single coin was built to be a pump and dump for the developers profit, I find some people holding large amounts of coins bashing others just to increase the value of their holdings moving forward, as bitcoin has been viewed as a threat to some currency's around the globe, altcoins have been viewed as a threat to bitcoin, which they may be, the joke coins could tarnish the image of altcoins, and altcoins could tarnish the image of bitcoin, and if you have any holdings then its most likely that you would like a positive light to shine on it to bring large investors to the table that would help stabilize your investment and bring growth, you do not want another altcoin to bring down your the value of your holdings, but I could wrap them all together and if one burns me i could view it as if they all carry the same risk and pull out altogether.
I guess i could ramble on and on but my point is this, altcoins are a risk, not to be viewed as a get rich quick program, you could lose alot of money as so many have, new innovations or not, your gambling

I don't invest in Altcoins.  I mine the new ones that show promise.  

Yes it is, buy bitcoins

It looks like most of the alt coins track bitcoin, broadly speaking. One might wonder if any of the altcoins are designed to be more adoptable as currency than bitcoin (anybody old enough to remember betamax vs VHS will know what I'm talking about here) and would have a chance of passing up bitcoin in adoption over the long run. I really think it's way too early to tell, and that would make them unsafe (among other reasons that they might be).

That said, any kind of investment is a risk vs. reward proposition. You're not going to see big appreciation without big risk. People who want to be safe buy treasuries.

Watch enough blogs, news op-eds, etc. etc. (and yes, forums) and you'll hear that bitcoin is also a shitcoin in a lot of people's opinion. I don't pay a lot of attention to the debate because it's all unfounded opinion at this point - around 7 or 8 billion people in the world and they all have opinions about something, so they're pretty cheap.

Aye that seems right. Then I will be careful with how much I will invest in new coins. However, do you guys suggest to start mining new coins at the moment they are released? Think that is your best bet, right.

Thanks for the answers. I bought QRK and NXT, however, QRK is down from the initial value I bought them, however I could have cashed some NXT today (bought them 3 days ago when I was starting).

Shitcoins are for losers

My advice:  stay away from all shitcoins.   If you are going to play with them then consider it gambling and play accordingly.

In other words consider all money lost.