Topic: End of the ALT coins hype? - page 2. (Read 1784 times)
FRK is accepted in 10 brick and mortar Pawnshops in atlanta georgia and the dev will be speaking to over 200 business owners about the benefits of virtual currency
oh and he just did an interview yesterday with the news paper in his city.
oh and he just did an interview yesterday with the news paper in his city.
You already said it, alts go down when BTC go up, simple as that and it's the trend we saw many times.
Don't underestimate LTC or scrypt in general, ASICs will be a game changer again
Don't underestimate LTC or scrypt in general, ASICs will be a game changer again
Altcoins are a necessary evil.
I think the same topic was discussed already since the first altcoin was alive, and will be discussed as long as altcoins are issued 
Think of Terracoin TRC: it was practically dead and is now playing among the big ones.
The current decline is actually not so dramatic, I think. The recent decline of BTC and the big number of new coins (some even showing new features or giving a lesson in marketing) are one factor. I think a bigger factor is this new pooling concept: mine altcoins and sell them directly for BTC, killing the prices for altcoins.
But in the end they still do well.
My view
Think of Terracoin TRC: it was practically dead and is now playing among the big ones.The current decline is actually not so dramatic, I think. The recent decline of BTC and the big number of new coins (some even showing new features or giving a lesson in marketing) are one factor. I think a bigger factor is this new pooling concept: mine altcoins and sell them directly for BTC, killing the prices for altcoins.
But in the end they still do well.
My view
I think the coin exchanges are going to get a bit more picky from now on. I get the feeling that they don't want coins stuck at a satoshi for weeks on end on their exchanges with nobody buying them.
Either they need to reduce the limit of coins that can be sold as a percentage of the total available for that coin, or stop listing heavily premined highly circulated coins.
Either they need to reduce the limit of coins that can be sold as a percentage of the total available for that coin, or stop listing heavily premined highly circulated coins.
They may have some profit from them in the beginning, but as soon as a coin drops below 5 satoshi it's just a waste of bandwidth.
There's just too many coins. When the preminers have coins in their hundreds of millions that took them a mere hour or two to mine, they're happy to dump them for a Satoshi. The devs are happy also because they also don't mind dumping at a Satoshi. The coin is designed to be quickly sold and quickly discarded. The only ones want to keep it are the people who have fooled themselves into believing it's worth anything. No coin like that stands a chance because by the time it does, the next big copycoin comes along, does the same thing, and it happens all over again. They'll never go up in value if nobody wants to buy them. It's creating a massive inflation wall that takes a long time to break down in a world where a new altcoin is coming out every few hours. They're garbage.
I am most concerned by what this may mean for mining. I dislike the trend, but also wonder if it is necessary to sustain mining profitability---assuming the hype itself can best sustained. It leads me to worry that there may be a flaw in the assumption small-scale mining may always be viable. I hope that future innovations help keep mining decentralized.
ASICs, botnets, and disproportionaly powerful pools like ghash.io are all concerns that I hope to see future currencies address.
ASICs, botnets, and disproportionaly powerful pools like ghash.io are all concerns that I hope to see future currencies address.
I think the coin exchanges are going to get a bit more picky from now on. I get the feeling that they don't want coins stuck at a satoshi for weeks on end on their exchanges with nobody buying them.
Either they need to reduce the limit of coins that can be sold as a percentage of the total available for that coin, or stop listing heavily premined highly circulated coins.
Either they need to reduce the limit of coins that can be sold as a percentage of the total available for that coin, or stop listing heavily premined highly circulated coins.
They may have some profit from them in the beginning, but as soon as a coin drops below 5 satoshi it's just a waste of bandwidth.
I think the coin exchanges are going to get a bit more picky from now on. I get the feeling that they don't want coins stuck at a satoshi for weeks on end on their exchanges with nobody buying them.
Either they need to reduce the limit of coins that can be sold as a percentage of the total available for that coin, or stop listing heavily premined highly circulated coins.
Either they need to reduce the limit of coins that can be sold as a percentage of the total available for that coin, or stop listing heavily premined highly circulated coins.
Looking at the exchanges a lot of alt coins are going down in price.
Many alt coins, you know who they are, are just created to (pre)mine fast and then dump millions and sell as soon as it hits an exchange. The devs earn a few $1000 real dollars and everyone else was tricked into thinking it was going to be the best coin ever, leaving them with coins not even worth a satoshi.
Some coins are looking stable like anoncoin, novacoin, etc. but most of the other coins will die out in a few months and I believe people are getting sick of new coins and the hype will soon be gone.
The only coin still standing strong like a giant and rising to the moon is BTC. It's used in real world stores and even your grandma has probably heard of Bitcoin. Another one is LTC, but that coin looks like a backup coin, ready to take over if anything happens to BTC.
What do you think?
Many alt coins, you know who they are, are just created to (pre)mine fast and then dump millions and sell as soon as it hits an exchange. The devs earn a few $1000 real dollars and everyone else was tricked into thinking it was going to be the best coin ever, leaving them with coins not even worth a satoshi.
Some coins are looking stable like anoncoin, novacoin, etc. but most of the other coins will die out in a few months and I believe people are getting sick of new coins and the hype will soon be gone.
The only coin still standing strong like a giant and rising to the moon is BTC. It's used in real world stores and even your grandma has probably heard of Bitcoin. Another one is LTC, but that coin looks like a backup coin, ready to take over if anything happens to BTC.
What do you think?
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