Topic: From 11 coins to 2!.. BTC and PPC win for me and here's why. - page 3. (Read 3506 times)

Yes - and I'm all for the innovators making a profit that they can then perhaps contribute something more in the future.. there's a lot of reasons for devs and minors atm, learning and profiting and good luck to them; but I'm just noting that spawning more of the same isn't real innovation.

I don't think it harms to have different coins running on different algorithms with different features. The issue is the release of pump'n'dump coins that serve no other purpose save a quick profit for some, and a loss for many.

It's good to have a coin like LiteCoin that runs along side Bitcoin, as it runs on a different algorithm. If something were to happen to Bitcoin, an attack, or some other unanticipated black-swan type fault LiteCoin could assume the mantle. It's healthy to have a basket of currencies, although it's pretty easy, at least one would hope, to discern the crap ones from the legitimate ones that bring something new to the table.

Most of the new altcoins do not offer anything. They are just pure pump and dumps (last one yacoin with ridiculous instamine) but most don't care because you can make easy money with them. Devs probably make insane amount of money, so there will be new coins until at some point bubble bursts and we might witness mass extinction.

Competition is always healthy.

If BTC is really is the God that most people seem to think it is; then BTC is antifragile and will survive regardless of how many alt coins people release.

In the meantime.. alt-coins are extremely good profits!

Sure, I get that I really do.. but I think it's important that we do question and challenge the reality. Otherwise, we might be misleading ourselves. The winner will be robust because it meets all challengers. I would love if an Altcoin can defend itself against the challenge that it's offering nothing - but it would need to evidence that difference and I haven't seen that yet.

I look at it like this:

People love to collect things.  There will always be a market for collecting.  People have money to spend and they might want an alt coin.  Some people have hobbies which cost a lot but really yield nothing but expense.  They don't profit from their hobby, but they do:  get something they value to collect - a coin to collect which may or may not have value.

People have the mindset that an Alt Coin is going to replace Bitcoin.  I hope not, Bitcoin is a quality product, not prefect, but quality.  As long as there is a market for people who love to collect, there will be a market for collecting coins.  Of course, there will be people that will profit from selling those coins to the collectors.

My question, that you haven't answered, is what are Alt-TC offering that is more than BTC.

I'm just playing devil's advocate today.. perhaps I'll be all enthusiastic again tomorrow but this is where I'm at right now.

"BTC works - it really does work well."

This is patently not true.  Any arguments you make after this statement are based on a false fact.  There are plenty of threads arguing against the technical, economic, and moral aspects of bitcoin.  We don't need  to discuss them here.

I don't understand what you're suggesting.

Bitcoin beats the US dollar in so many ways.

How do Alt-TC beat BTC? Really, why would anyone need another coin?? Why would a merchant want to accept multiple coins.
If it works, then it works. If it runs into difficulty, then we'll need something different.

I guess with that logic the whole world should just use the U.S dollar right? lol

I think he was making a joke.

Saying it doesn't make it true.. how apt then your reply.

you've got it wrong!

So, a reality check. Why you might want to think and spend more effort promoting BTC and real world use.

All these new coins recently have only helped make me think more closely about what each was offering. I've been following the Alt-TC for a long while and yet today, I'm rethinking and consolidating the small wins I've made; which I have say is really refreshing.


Firstly the bleeding obvious for those who need it: Steps to lazy profit - Pump and dump
1. Find something of value (Bitcoin)
2. Copy it; adding little or no value.
3. Point at it - and shout "see how much profit we're going to make!!!!!!!". Create the excitement.
4. Wait for noobs and opportunists to jump before thinking.. hell it's fun; why wouldn't people get caught up in it. This new thing, is the same as the successful thing!!
5. Profit and repeat


Most new coins are offering nothing - you might as well be holding Linden dollars, for all the prospect of spending them in the real world.

BTC works - it really does work well. So, why would a real world merchant need to use another coin? Please, tell me why.
None of the alt's beats a green address in a fast and reliable way.

In the event that Proof of Stake becomes useful, then PPC will be affected by that and it's unlikely that a mix coin will win if Proof of Work is stung. PPC then is the only real other option at the moment.

Namecoin is a fun application but if you have no use for it, then why are you buying it?
Devcoin, nice idea but is it working?.. Frankly I don't see it, though I'd really like to see it happen.


Beyond BTC and PPC then is really wild guessing with your eyes closed - if you've got money to burn then fine but it's all just pump and dump until one of them resolves.

So, some coins use scrypt.. so what, that's just a different crypto and the effect on mining isn't going to make or break the coin. TRC starved of oxygen for a while but if that happened to BTC, you wouldn't be looking to similar coins, you'd be looking for something different. Perhaps LTC would lend some support for a while but if BTC failed then LTC would surely follow; if BTC becomes everything we hope, then what use LTC? The developers of new coins benefit enormously for the experience and the profit but we need to see Alt-TC coins for what they are. Unless the Alt-TC coins become known in the real world as linked to something concrete they will never be secure store of value.. perhaps one will become a gaming currency but right now.. I'm sticking with BTC and PPC.

Tell me I've got it wrong and maybe tomorrow I'll rethink