Topic: Hate to say it but - all altcoins are illusional garbage at best (Read 1432 times)

Hear here.

+1 and big ups and all that.

Alts allows for the possibility of exponential returns (or exponential losses) because of the tumultuous volatility of the "bitcoin standard."

The entire Crypto-Space is all about Naked Greed...
Every "honest" person here has helped PUMP a dozen scams...
Every conceivable political philosophy has been co-opted to PUMP Crypto, baby.

That said...
I've got an elaborate cap-weighted Alt Index going back to the launch of LTC...
And since last summer the return on a basket of Top 10 Alts has mirrored BTC.

So it doesn't matter if you buy BTC...
Or a semi-random basket of 10-20 Alts...
Your return will be nearly identical.

But if you know Alts inside out...
Your return will vastly EXCEED stodgy old Bitcoin...
Alts are now sporting a $500 million Cap... and BTC will come back to the pack.
 

damn right, I laughed so much )))

Like I always say, everything is a pyramid.

You have no clue what you're talking about. Changing anything is hard. Everyone has to agree upon the change. Who gets to decide what is right for Bitcoin?

http://www.coindesk.com/all-things-alt-quarks-shaq-cess-blackcoins-pr-pivot-and-dogecoins-victory-lap/

So what these coins are doing is garbage? You are garbage

What people fail to realize is that you can pump and dump anything. Gold. Silver. Platinum. Oil. Stocks.

Bitcoins, too.

if bitcoin evolved and adopted alot of the newer upgrades to the protocol then altcoins would be garbage. Until i see bit-coin with improved retargetting and something similiar to dark send then bit-coin will always just be an instrument to trade up to to cash out.

I am in crypto currency as the whole idea. Bitcoin was the first but is outdated on the technology side.

Original poster could not be MORE WRONG.

Financial industries want to hedge their risks, they're not going to do so on one block chain where a single attack can wipe out their life savings, or a single developer can blow up the block chain like Gavin has already done in the past.

At the bare minimum, there will most likely be Bitcoin + Litecoin to cover PoW, possibly a few others, then several PoS coins with variable interest rates and economic models.

I'm thinking a minimum of around 5 coins, a maximum of 20, with most likely the majority being PoS for self sustaining block chain.

For many people, yes, altcoins are just an instrument to get other people's bitcoins.
But, isn't bitcoin just the instrument to get other people's fiat as well?
And isn't fiat just the instrument to get other people's material assets?

You see, this logic applies from top to bottom.

What about companies popping up using blockchains for their software? I would say you are wrong about this. Its true there are many scammers and only a few gems. But thats the way it is with almost everything.

i think they use more money into lobbyismus

some of them are different, like HUC, sadly they don't receive any attention

it's always like that, good coins get ignored, instead p&d scamcoin find always a way to be attractive

Seems to me like you are butthurt from either losing money in an investment or scam related to an altcoin.
I do agree however that most (not all) altcoins are bad. You have some good ones, some with innovative features such as the coin that introduced POS, fully anonymous coin (darkcoin) and such.

What made you come to such a realization? Please share your experience and why you think so. Obviously you must have seen some value in altcoins at some point of time, otherwise you wouldn't have gotten involved in the first place.

" This painting here? I bought it ten years ago for sixty thousand dollars, I could sell it today for six hundred. The illusion has become real, and the more real it becomes, the more desperately they want it. Capitalism at it’s finest."

and the truth, amen

Nice to say.

if you think like this, please post in ENRG thread here
tell OP to remove your share there https://docs.google.com/spreadsheet/ccc?key=0AmtTPZS-lpnjdDQyOGQ2UmRNdGhWZ3g4T0xXREh5V3c&usp=sharing#gid=0
304. orpington   e9LDW3NbA31M682omeSpEGyjXr9mzZLG96   y
it is better your share give to jr.member who support that coin instead you
it's funny when you said it is garbage coin but you still want to get it for free  

To me, the new and real altcoin, which isn't even a coin anymore goes far and above just being a coin.  Something that doesn't just use a blockchain for simply registering transactions of a single coin.  Bitcoin was already doing that back in 2009.  Any altcoin that is just trying to introduce a new blockchain that has a different mining or algrorythm isn't really adding much, and is basically 5 years late to the game.  And especially anything based on some other niche characteristic like fad, people, person, animal, country, ect screams scam to me.  The one exception to this is Doge which was meant to be the exact opposite of these, the alt coin that was just making fun of any other niche coin because they were so ridiculous and doing so it became valuable for being cool.

I'll give a couple of examples of new coins that aren't coins.

Ripple.  As far as utility goes for sending payments around the world, its technology is magnitudes slicker, quicker, and with more options than bitcoin, let alone any altcoin.  Will it make it?  I don't know, it is pretty late to the game and doesn't seem to get a lot of love from forum members.

NXT. This group of developers, and yes there are real developers working very hard everyday, are trying to not just beat bitcoin, but take over everything.  They want to make NXT do anything and everything related to financial transactions.  Will it make it?  The code was kind of rough at first and it is being updated, but it is hard to know if it will really be able to deliver on being a cryptocurrency that does all things.  Right now its utility is pretty low, but plans are to make it by far the most useful of any coin.  This isn't just talk.  There are real people writing code and testing it right now.

Ethereum. This doesn't even want to be a coin that does everything.  Coins and mining are so 2012-2013.  It wants to be a universal platform that by itself doesn't do anything, but on top of it anything that any developer wants to build can build freely.  Again, we aren't just talking about a coin, but any kind of financial transaction imaginable.  This is some ways is the rival to NXT, but it doesn't even have an alpha out yet so right now is only hype.  Vaporware at best.  Its strengths are that is has a very large group of highly committed big name professionals working under a centralized leadership with a unified game plan.  (completely the opposite of NXT)  Those big players for Ethereum have gone all in.  They are betting everything on it.  You might want to too, IF IF IF they pull it off.