It it still that easy to make $$$$ with alts?

TaunSew

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Quote from: TinEye on March 15, 2015, 03:36:43 PM

Right now its is difficult. Once BTC goes up investors would be looking to get into other profit areas and then it would be possible to make big gains on alts. Last year when BTC was above $1000, some of the alts went up by 20-30 times.

When BTC had hit $1200 - the early adopters from 2009 saw a return on investment of around 450,000. Meaning a $10 investment in 2009 netted them $4.5 million in late 2013. This was possible because BTC was initially fractions of a cent.

It's not a bad assumption to treat alternates like pokemon cards, buy several dozen good ones, and maybe waiting 6 to 10 years and lucking out on one or two of them (if it happens). Maybe you won't make millions but nobody would disagree over a free apartment or a nice car.

Besides alternates do bring a lot of people into Bitcoin. Doge brought in a lot of people into BTC, who were previously not users of Bitcoin, and many of them did not come from the traditional libertarian crowd of which most bitcoiners came from.

TinEye

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Right now its is difficult. Once BTC goes up investors would be looking to get into other profit areas and then it would be possible to make big gains on alts. Last year when BTC was above $1000, some of the alts went up by 20-30 times.

bram_vnl

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Quote from: Hollowman338 on March 15, 2015, 11:08:04 AM

ignore it! it is a troll post, if the coin have no more connections in the wallet than it is dead

merred

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Quote from: TaunSew on March 14, 2015, 04:56:05 PM

Sure it's easy. Create a dumb name, steal a logo from Mass Effect and call it 'second generation' and install backdoors in the code. These people did it very well.

https://bitcointalksearch.org/topic/ann-nxt-descendant-of-bitcoin-303898

Count the people in the photo - eight people - just like the eight whales of NXT. Last laugh is on them. Cheesy

They became millionaires while everybody else is holding the bag. Shocked

Well OP that doesn't help you very much, unless you want to create your own crypto. Grin

You better stop scamming. Roll Eyes

Hollowman338

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JackRipper

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Quote from: sofu on March 15, 2015, 07:49:41 AM

Nah the golden times are over. You need money from rich noobs that buying your mined shitcoins. nobody want to invest in dead markets now. I remember selling worthless coins like litecoin, aurora, maza, maxcoin, doge, quark and more and maked thousand of dollars. now you can buy new coins on exchanges below mining costs.

that is correct only if you want to make money while your brain is on pause. If you are willing to do a little research and think a little, the money is still easy. It doesn't matter if you are trading or mining, there is still plenty of money to be made.

H.W.Z

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Quote from: sofu on March 15, 2015, 07:49:41 AM

Nah the golden times are over. You need money from rich noobs that buying your mined shitcoins. nobody want to invest in dead markets now. I remember selling worthless coins like litecoin, aurora, maza, maxcoin, doge, quark and more and maked thousand of dollars. now you can buy new coins on exchanges below mining costs.

buying new coins is a bit risky! Most of new altcoins are just pump and dump game! You should get out before they crash.

sofu

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Degenerate Crypto Gambler

Nah the golden times are over. You need money from rich noobs that buying your mined shitcoins. nobody want to invest in dead markets now. I remember selling worthless coins like litecoin, aurora, maza, maxcoin, doge, quark and more and maked thousand of dollars. now you can buy new coins on exchanges below mining costs.

erpbridge

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I think its still the same like an year back for mining. As any new coins launched can easily be mined. But the competition is comparatively more than before and thats where the difficulty comes in.

sloopy

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https://bitcointalk.org/index.php?topic=905210.msg

People started renting a pile of sha256 from westhash tonight for some reason...

Hazir

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★Nitrogensports.eu★

Quote from: merred on March 14, 2015, 01:45:09 PM

More than a year ago I made a few K mining altcoins. After BTC went crashing I quit and sold all my equipment.
However, I wanted to know how the market is these days.

It was fairly easy back then..wait for new coin, mine it, sell it a few hours/days/weeks/months later.

So my question is, is it still THAT easy?
Thx

If you will pick some highly anticipated altcoin just after its release you actually might earn quite a bit. But apparently it seems that most of people are already tired of the same scheme every time. Basically it is high pump at the beginning and the coin is losing its value almost completely (PayCoin I am looking at you)...

TaunSew

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Quote from: chennan on March 14, 2015, 08:39:17 PM

Quote from: TaunSew on March 14, 2015, 04:56:05 PM

Sure it's easy. Create a dumb name, steal a logo from Mass Effect and call it 'second generation' and install backdoors in the code. These people did it very well.

https://bitcointalksearch.org/topic/ann-nxt-descendant-of-bitcoin-303898

Count the people in the photo - eight people - just like the eight whales of NXT. Last laugh is on them. Cheesy

They became millionaires while everybody else is holding the bag. Shocked

Well OP that doesn't help you very much, unless you want to create your own crypto. Grin

i don't think you know about NXT! It has 72 original investors, means 72 whales. But they are not dumping their holding!

http://nxtcoin.blogspot.ca/2014/01/nxtmyths-1-nxt-is-not-scam-it-wasnt.html
"There were only 8 original stakeholders who paid 1 Bitcoin during open IPO.[11] Each of them got 50 million NXT"

Very Josh Garza language ("it's not a scam") but all the numbers indicate it was a scam. Scam distribution

chennan

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Quote from: TaunSew on March 14, 2015, 04:56:05 PM

Sure it's easy. Create a dumb name, steal a logo from Mass Effect and call it 'second generation' and install backdoors in the code. These people did it very well.

https://bitcointalksearch.org/topic/ann-nxt-descendant-of-bitcoin-303898

Count the people in the photo - eight people - just like the eight whales of NXT. Last laugh is on them. Cheesy

They became millionaires while everybody else is holding the bag. Shocked

Well OP that doesn't help you very much, unless you want to create your own crypto. Grin

i don't think you know about NXT! It has 72 original investors, means 72 whales. But they are not dumping their holding!

JackRipper

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Yes. It's very easy to make money in alts (if you know how). All those who say "no" are the ones you'll be making money from. You'll have to do some research to discover how though.

picolo

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Quote from: Daedelus on March 14, 2015, 05:50:11 PM

Avoid anything labelled POI = Proof of Implosion Shocked

The devs decided to control 65% of all the coins from launch. I guess that is how these guys make money in alts now Cheesy

The short answer to OP's question is no and the long is no because...

Coins that should go down because they are poorly designed will fail.

Daedelus

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Avoid anything labelled POI = Proof of Implosion Shocked

The devs decided to control 65% of all the coins from launch. I guess that is how these guys make money in alts now Cheesy

AltcoinInvestor

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it's not $$$$ but it's easy to make $$$.

TaunSew

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Activity: 756

Merit: 506

Sure it's easy. Create a dumb name, steal a logo from Mass Effect and call it 'second generation' and install backdoors in the code. These people did it very well.

https://bitcointalksearch.org/topic/ann-nxt-descendant-of-bitcoin-303898

Count the people in the photo - eight people - just like the eight whales of NXT. Last laugh is on them. Cheesy

They became millionaires while everybody else is holding the bag. Shocked

Well OP that doesn't help you very much, unless you want to create your own crypto. Grin

merred

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Hmm I understand. I guess the ones that were here at the beginning of the altcoins, were very lucky.

Cryddit

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no. Not that easy. Tho some people still make money doing it, there is a problem that the pump&dump game requires suckers, and the suckers' money has already been taken. Even if they still have money, they've mostly been burnt once and are a lot more cautious.

For every winner in something that's pure speculation, there is an equal and opposite loser. And these days, the winners and losers are both drawn from the same pool of people because the old-style suckers are mostly gone from the market.

Topic: It it still that easy to make $$$$ with alts? (Read 1578 times)