Topic: Is Bitcoin Talk's love affair with shitcoins over? (Read 435 times)

That's only for the dark web though, even though it's a decent sized market. Also, whose to say that bitcoin can't have privacy features? There are already proposals for this. It's probably just a matter of when.

I've read somewhere that around 92% initial coin offering launched in 2017. turned out to be but scam/projects simple failed/didn't hit exchage and only 8% of all ICO's were listed on exchange  (I am not sure how many of ICO's  issued erc20 tokens, probably most of them), my guess is many investors lost their faith and moved from this market...
...lack of investors directly affects payout rates, less money collected = lower bounty rewards and bounty hunters will receive much less shitcoins or tokens (if they receive them at all). Looking at scam accusations and complains against bounty managers, situation is "not so good" and with all these exposed scams lately that whole board is looking like "investor based games", people are scared to invest money in shitcoins(my opinion)

For most bounty hunters this is regular 8 hour shift and I believe they will simple create more accounts to "compensate lower rewards" (if this is correct expression) and to, as you said, pollute forum.

That's one of the few coins that has a utility and will survive.

I just got this from one of my fiat market feeds.

https://www.livesquawk.com/members/crypto_update_aug_2018

It makes a good point about how the market is changing due to having institutional and professional traders involved more now.

Have you been on the dark web within the past year? No one even takes bitcoin, they only take privacy coins like Monero.

I generally don't watch the altcoin market much, but the pattern has been that when bitcoin goes up, altcoins go down and vice versa.  It's not a hard and fast rule, but that's the way I've seen it happen.  At any given time, there seems to be a fixed amount of money in the entire crypto space, and people are either buying bitcoin or buying shitcoins.

A 90% mortality rate for shitcoins sounds about right, and I suspect it's going to be even higher than that in the long run.  I just don't know how long it's going to take.  However, we've seen bloodbaths in the market before, and we've also seen incredible recoveries too.  Whatever the market is doing right now may not be a sign of anything other than extreme volatility.  That's standard for crypto.

Sure. Doesn't mean we should bow down to them, and let them do what they want though. I think the best way to approach most of the problems with altcoins is imposing restrictions to reduce the spam problem. I'm really not sure how to combat the scam problem, because from a moderation point of view it isn't going to happen. I've seen a few users starting to research each project in depth though which has given some decent results.

when us dollar disappears things will change quite a lot.

there is no guarantee that old bitcoin will survive. and people will continue thinking its "valuable"

sorry JC don't take offense
when the span of 2016-2017 is unthinkable to do mining of altcoins. it's a golden year for altcoins miners and I feel it, 1 day can get 100$ (5xGPUs) rather than having to buy bitcoin and sell it at a high price. until now I don't invest in Bitcoin because it is too risky.

Unfortunately all these scam coins tend to discredit the crypto market.

Maybe I should go anonymous, and then I could start a few.

I totally agree with you. As soon as the time of the bulls starts, and it starts, I'm sure of it, then the future will appear for altokens. Now, with a dominance of 50%, many projects are bent. 

The saddest part of all this bounty spamming is the change that it has made to the forum. Up until now, all I've been doing is collecting Bitcoin by various means. Recently I bought a small amount of Bitcoin from a forum member, and I would like to increase this in the future. I missed out on the massive price rise a couple of years ago because I didn't trust exchanges. I didn't have any problems with the exchange here, and this is probably the result of my interaction with the member over several months. I don't feel that the trust system here can be used to evaluate a potential trade though. This is for two reasons, one is that it covers far more than trading trust, and the other far more significant fact is that accounts can be purchased. Obviously the trust needs to be related to the person, and not the account. Unfortunately it is not possible to guarantee that the two are the same.

I can get round this by setting up a small invitation only trading room, and I am working on this at the moment. It does mean that trading potential is rather restricted though.

altcoins will never die, its boring to invest in bitcoin when you can get over 10x gains from altcoins really quickly.  There will always be new tech coming out and altcoins with new features, it simply wont die.

Well, my wish is that exactly those top 10 altcoins will be part of the 90% that will get purged.

Not because I fear them taking over from BTC but because they are selling the same promises as the bottom shitcoins the only difference being a better PR team.



Theymos has banned ICO advertising on the forum and the current line-up of ads is heavily orientated to BTC.
People that deal only in bounties and are just interested in dumping their catch as soon as possible (using eth) are not so much of a target for sales


I have a feeling half of the hunters are actually bots, or even worse...
Thousands after thousand or reports on all kind of bot activity are making me wonder on all those numbers in the altcoin section, from the number of posts to number of people posting there

If the proposal of hilariousandco with the 1+ merit requirement gets the approval of the sir Theymos we're going to have a somewhat better view on the reality there and I'm sure it won't be pretty.


The problem is that running a bot costs pennies, even if the bounties are 1$ multiplying it by 1000, is still profitable.

There are thousands of people doing captcha work for 50-100$ a month, the reward from posting here must go below that and the recent "bloodbath" wasn't capable of triggering this, we must see ETH hitting 100 for a real one

Effective Marketing strategy is the heart of a crypto currency. Without having smart marketing plan most of the Alts can't ensure their goal. On this basis bitcointalk Is a nice platform to expand marketing activities through worldwide crypto community.

But what happens in real. After the end of ICO most of the Alts who got the chance to be listed on exchanges pull of their promotions. In my opinion which Alts are very operative after the end of ICO those gone viral and enrich their goal.

But if you close you reserve cash before investors get engaged properly with your Alts than its gonna be vanish soon.

Alts historically always have fluctuated more than bitcoin.

Part of the reason for this is that BTC is their primary base market.

Just like the price of commodities that use the US$ as a base market fluctuate more than the US $ itself.

I agree that the majority of Alts have no purpose for existence. They are a ploy to take bitcoin and provide useless tokens in return.

It is like saying: "Give me your gold and I'll give you an interest bearing piece of paper that shows I've taken your gold that you can exchange with others."

The only "alts" and ICOs of value are the ones that provide some sort of actual real world service or purpose. - Not just promises of a purpose.

Most of the "promises" are just BS.

Yes, but if the visitors are bots and low value bounty hunters,then the advertisers start to question the value of advertising. There is a reason why some clicks are worth $500+, and some are worth less than one dollar per thousand.

don't shitcoin and bounties, due to the volumes of visitors that bring, generate indirectly funds to the forum in the form of paid advertisement?

The 90% of shitcoins dying in a bloodbath claim originates from this tweet from Ted Rogers the president of Xapo.

https://twitter.com/tedmrogers/status/1029234182386409472


Unlike a cloth sack, most of those coins never had a use in the first place. They only are ever used as pump and dump trading vehicles. The ones that will survive will be the ones with some kind of utility.

The other reason Bitcoin is getting back above 50% market dominance is that tokens, as well as coins, are included in that measurement. It seems that people are slowly waking up to the fact that the vast majority of the ICOs are just plain simple scams.

How long before the ICO signature spam dies as well is another question.

They will still be here collecting dust and hoping someday that these dusts will become mountain of gold  . As long as there is money in here, even if it is small they will stay.

It's true that certain coins/tokens are likely to crash in price after they get distributed to the bounty members, but still again, money is money. A few dollars from the shitcoins is still something to those people especially if they're from a craphole country like Venezuela or something.