Topic: Is the alternative cryptocurrency market flooded? - page 2. (Read 2492 times)

What about proof of Capacity? POC
https://bitcointalksearch.org/topic/annburstpoc-burstcoin-hard-fork-coming-approximately-june-20th-1541310

Ya man, the fun is just beginning.

What amazes me is that there is STILL no proper Alt Coin Index...
Just using the Top 20 or whatever is lazy and pointless and tracking bubbles...
All the money is made getting into interesting longshots early (too many such alts to list).

I absolutely guarantee you...
That right now in Announcements there are at least 2 longshots that will go > 1000% within months.

anyone with a quick glance at the altcoin announcement board or even these sites that list altcoins like coinmarketcap can easily say market is flooded and if you go deeper into each one of these it is again obvious that nothing is different between majority of these coins! they copy and paste

"Work for donations" is failure because...

Define "fair"? There is no fair. The only thing that matters is who designs the correct combination that succeeds (e.g. a very restricted distribution won't succeed long-term). Fair has nothing to do with it. Rather I think the term you want to apply here is "objective". If the distribution is objectively based on free market competition (a form of merit), then it is driven by maximizing success (which is what free markets anneal to absent Coasian costs).

Are you writing a school paper?

After 5 months of trading altcoin,the altcoin is indeed over flooded and it's hard to find which is which among these altcoins,traders keeps on looking for the new innovation in the market,thinking that a new bitcoin is coming,I'm lucky to have invested on 5 stable crypto currency but I'm still looking for this new innovation and see if they can pass my criteria but so far in the last two months only one or two coins are reliable.

Readers, I PM'ed iCEBREAKER making him aware I had mentioned him... it is good to get his feedback here...


It is a fair point and I accept it.

There is discussion here about whether anything serious (that could be better than Bitcoin) could come out of altcoins, and I believe based on my own work, that it can.

I can't open source my white paper until I have an implementation.


Dishonesty is the not the correct allegation. I have never posted a single comment on these forums that was shown to be intentionally dishonest. Here is an example of your disingenuous posting style. You attack my ethics without any proof. As you wrote, "extraordinary claims require extraordinary evidence, yet fail to provide it precisely where required". So you are being a hypocrite.

Now the second part of your statement is reasonable. Yes I agree maybe I am being an Attention Princess. But so was Vitalik. And it worked very well in marketing. I am a marketer. And I am doing a damn good job of marketing myself. That may make you jealous, but if my marketing ends up being joined with a successful project, then you will just have to admit I am talented and resourceful.

We will see... (again a lot hinges on my bad health unfortunately for me, because I would love to make you eat your words and even void of any animosity just to a manly competition sort of thing)


Evidence above.    


I have already commented about that. He has apparently proven some soundness of security under certain presumptions about the distribution of the stake, but this doesn't prove anything about the winner-take-all power vacuum. He is also very clear that he hasn't even attempted to prove anything about that. Ask him or just read the caveats mentioned in the whitepaper.

Whereas, my design doesn't require the majority of the stake to not be controlled an attacker.


I haven't followed Decred. I can't keep up with following all the altcoins. There are too many.


Don't forget Steem which is DPoS.

Any way, my design isn't just PoW nor (D)PoS.


Note to readers, that being an Attention Princess can also be a sign of not being an active coder. This ended up being true in Vitalik's case also. Coders tend to be silent and let their code speak.

Let me stop you there. First please tell us which legitimate projects that you support are getting their credibility hurt because the market is "flooded" with cryptocoins that seem to be scams. I ask you this because it is looking like you are thinking that the projects you support cannot see the light of day because there are simply too much cryptocoins to choose from.

You seem smart enough to understand extraordinary claims require extraordinary evidence, yet fail to provide it precisely where required.

That reeks of dishonesty.  The "hey guys I've got a BIG SECRET" behavior is typical Shelby The Attention Princess.


There you go again.  Grand, sweeping claim, presented with zero evidence.  I must presume you intend to insult our intelligence by expecting readers to swallow your assertion without critical evaluation.

How am I to defend myself against your nebulous defamation unless you provide examples demonstrating your accusation has some specific basis in reality?

As for PoS, Charles Hoskinson claims to have cracked that nut with some formal proof of soundness.  I'll leave verification of his claim to the appropriate domain experts, because unlike you, I know where my limits are and attempt to push back against Dunning-Kruger effects.

Decred is also making a go of it, but IMO their convoluted approach only confirms no elegant PoS schema currently exists.

If you want to know what the invisible hand thinks of PoS, look at Decred's and Peercoin's market caps.

That is for the decentralized free market of speculators to decide. Do you really want an altcoin police? You want to hand control of the free market to some authority who will of course abuse their authority and kill innovation.



When a serious altcoin lands, the rest of the shit is going to die (be greatly diminished). I specifically hope to be the person to make this happen.

But I want it done in a free market manner. Meaning unbounded (open to) competition.

By serious, I mean million users of adoption. Results talk, bullshit walks. At that point, the bullshitters need to put up a million users or STFU.

I added the following edit:

Let's face it - great altcoins are short lived pump and dump schemes created not because developers wanted to change the world with it but to grab fast buck.
As long as anyone can create their own altcoin and there is even slight possibility that it will bring money then ICOs will continue to spread.
But fear not - I expect that after some time people would get tired of the same recycled scheme and we will see less and less shitty coins created.

The question is do we need hundreds of alts being listed, raising funds and then dying a quick death? People who have no new ideas shouldn't be creating me-too alts just to make a quick buck.

I think they mean it is flooded with scams and bullshit. True.


Agreed. I can say this with first-hand knowledge confidence, because I know the technology I have already written down into an extensive white paper, which I am attempting to bring in an altcoin.

Seriously folks, there is technology that can make Satoshi's Proof-of-Work look silly in hindsight. I know it sounds far-fetched and ludicrous. And I know it sounds like a scam. But as others have said here, it should be open sourced and experts should have the opportunity to analyze and critique it.

Problem was in the past when experts such as gmaxwell, smooth, myself and others tried to warn the forum about the sloppy technological flaws in Dash, Vcash, Ethereum, CounterParty, side-chains, etc..., we were always attacked. So we decided to STFU. And let speculators destroy themselves. The speculators thought that the "experts" were trying to bad mouth necessary competition, and in some respects I agree. I think speculators losses are a necessary part of the unbounded free market we need for innovation to flourish.

Speculators you will need to learn to recognize who on these forums does not post disingenuously. I would tell you right now that person is @smooth. If he posts something incorrect or which I disagree with technically, we debate it. And he acquiesces to the truth (which is nearly always just a subtle perspective difference from anything he had written, because he is very astute).

There are others who are smart but often post disingenuously (politically), e.g. iCEBREAKER. There are others who are very smart in their respective fields, but who don't have enough knowledge about the various aspects of blockchain technology and thus sometimes post incorrect interpretations, e.g. aminorex.

I will say that both @smooth and myself have apparently learned that some of our initial technological assumptions were incorrect. For example, we were both initially heavily against proof-of-stake. I'd guess we both still are (can't speak for @smooth), i.e. still recognize the flaws in PoS (even in DPoS), but also at least in my case, I have become more aware that the flaws in PoW are equivalent or worse. Ditto on PoW distribution being ideal. So this has given me caution lately about attacking other coins. We "experts" try our best to be accurate, but we will also have myopia in some cases.

"expert" is relative, YMMV.

No one person is omniscient. Need a group of "experts" who debate. But the problem is when "experts" are disingenuous or influenced by their vested interests, so then the debate may not be open-minded. And even the best grouping of "experts" can still sometimes be myopic. But the forum is more rife with non-experts who flood the threads with incorrect interpretations and the "experts" get drowned out by noise and n00b (esp. "millennials snowflakes") fantasies.

I haven't followed Ethereum that closely. Interesting. Yes Vitalik totally screwed up the mining and consensus algorithms. He had one big idea which is smart contracts. Other than that, it has been a comedy of errors, as expected for a young man with no experience.

The remarkable phenomenon is how investors would not even value experience and maturity. They are hoodwinked by Vitalik's ability to talk about technology in inspiring memes.


Of course, I was also very critical of that. But look at Classic nosediving, because it isn't delivering anything worthwhile. I frankly expected more of Classic, but now I've learned that Charles Hoskinson doesn't understand how to drive excitement. He is good at assembling researchers and academics. Vitalik is very talented at driving inspired energy into an ecosystem. Also apparently Ethereum has some manipulator who controlling the market price. If as you allude to, the mining is monopolized, then that would explain the existence of the manipulator.

Flooded? No way!
I'd like to see more ideas more experiments using blockchains, and more people doing it.

Some of the best stuff is yet to come.

Sometimes I'm lost on the coin that I'm following,because there were to many altcoins and new one coming in I notice that there are so many ICO coins in the market every week,maybe it's the holiday season and this dev needs money for the holiday.

Yes, the market is flooded with so many Altcoins at the moment and the it is becoming scary and more interesting to watch. But I except most of them to die natural death since there is no use case for them.

I guess you can argue that if the premine is small enough for people to accept, the developer is fairly rewarded.
Also, Ethereum falls into two other categories:
(1) The speed, at 15 seconds, gives a huge advantage to miners with large farms and good connections, it takes twice that for a block to be relayed across the network.
(2) They bailed out the DAO, after they got hacked and robbed. When Mt. Gox was hacked, did bitcoin miners fork the chain to give the their bitcoins back? No, it is their own fault they got hacked, and not the responsibility of miners to issue a charge-back. With blockchain, if you got hacked, live with it!

Yes crypto market has flooded.

Only crypto currency trading platform provider can stop this flood if they stop listing shit coins and start to removing dead coins.

Yes, market flooded.

When the water subsides, there will be two coins left standing: Bitcoin and PACCOIN.

PAC is the sleeper coin slowly building a base of crazed basement dwelling millenials. PAC, like the arcade game it was named after, will eat all other altcoins in its path. Time will reveal that PACMAN game developer, Mr. Toyota Panasonic was Satoshi's long lost brother.