Topic: Newbies, stay away from altcoins. please - page 5. (Read 9229 times)
Agreed. Bitcoins and Litecoins are the ones who will make a difference.
Altcoins can pay off. I got in very early on Dogecoin mining with modest hardware and recently pocketed $500 USD selling it on Reddit and eBay. So, in conclusion $500 in a couple weeks for doing basically nothing but providing GPU/CPU power ain't a bad deal. 
Sometimes it pays off, and other times you get almost nothing, I mean when you mine all starting coins first day only when the difficulty is low
Yeah, and Doge seems to be the exception to the rule that most altcoins aren't worth bothering with. I have a feeling the value will plummet in maybe a couple months though once the novelty wears off... I'm hoping otherwise.
Just giving you a heads up, 99% of the alt coins are a waste of time and do not fulfill the main concept of the digital currency concept.
Invest only in Bitcoin (BTC) , it has more support and interest than any other coins(projects).
Although you might still find other projects with great support (either in great developers or they are heavily invested by many), like
Litecoin (which suffers from a few big holders that manipulate the price, but you might earn a bit of $ from it in the short range aka mt.gox announce to add it to their trading). and
Mastercoin / https://bitcointalk.org/index.php?topic=265488.0;topicseen (which has already been funded with 5000BTC to kick off with the development)
Don't make the same mistake I did wasting my time on other failing alt coins..
Hope this info helps you decide where to start.
Good Luck.
what about NXT?? Invest only in Bitcoin (BTC) , it has more support and interest than any other coins(projects).
Although you might still find other projects with great support (either in great developers or they are heavily invested by many), like
Litecoin (which suffers from a few big holders that manipulate the price, but you might earn a bit of $ from it in the short range aka mt.gox announce to add it to their trading). and
Mastercoin / https://bitcointalk.org/index.php?topic=265488.0;topicseen (which has already been funded with 5000BTC to kick off with the development)
Don't make the same mistake I did wasting my time on other failing alt coins..
Hope this info helps you decide where to start.
Good Luck.
Altcoins can pay off. I got in very early on Dogecoin mining with modest hardware and recently pocketed $500 USD selling it on Reddit and eBay. So, in conclusion $500 in a couple weeks for doing basically nothing but providing GPU/CPU power ain't a bad deal.
Sometimes it pays off, and other times you get almost nothing, I mean when you mine all starting coins first day only when the difficulty is low
I understand OP's statement, and I would agree to warn new crypto-fans to invest heavily in new coins. The risks are just too high to bet serious money. On the other hand -- if you have the time and/or money to spend -- it's fun! I'm playing around with a bit of cash I can lose.. and it's fun to be part of budding crypto-communities.
Despite all the big ambitions, don't take alts too seriously. If one or more alts make it to the mainstream, just be sure you have a wallet full of those silly coins :-)
Despite all the big ambitions, don't take alts too seriously. If one or more alts make it to the mainstream, just be sure you have a wallet full of those silly coins :-)
Just don't be a pig. Pigs get slaughtered.....
Altcoins can pay off. I got in very early on Dogecoin mining with modest hardware and recently pocketed $500 USD selling it on Reddit and eBay. So, in conclusion $500 in a couple weeks for doing basically nothing but providing GPU/CPU power ain't a bad deal.
I agree.
Altcoins can pay off. I got in very early on Dogecoin mining with modest hardware and recently pocketed $500 USD selling it on Reddit and eBay. So, in conclusion $500 in a couple weeks for doing basically nothing but providing GPU/CPU power ain't a bad deal.
All these coins seem more like an imaginary stock market then actual currency. Value of an currency doesn't increase when there is a increased interest, the stocks do.
I'm not sure I agree with the post. Bitcoin isn't really a currency. I
It is a currency. What makes it not a currency in your opinion?
It's value fluctuates way to much no stable currency acts that way. It seems more of an speculative investment, then a medium of exchange. Most people who buy/mine it are hoping the price goes up. They don't buy it so they can make purchases. I know several merchants do accept bitcoin but % of bitcoins used to buy stuff is tiny.
The problem is unless you've got some ridiculous ASIC miner, which 99.999% of people don't, BitCoin is just too difficult to mine anymore. I like the altcoins popping up, it gives people a chance to get in early on something that may (or may not) take off and make some real money or trade for BTC if said altcoin gains a bit of traction. Just look at Dogecoin!
Why not give new alt coins a chance? You never know.
You can even find lots of rubbish behind the "solid" coins like LTC, NMC etc
Greets
You can even find lots of rubbish behind the "solid" coins like LTC, NMC etc
Greets
I think the altcoins serve a purpose to make the bitcoin stronger overall through innovation.
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I'm not sure I agree with the post. Bitcoin isn't really a currency. I
It is a currency. What makes it not a currency in your opinion?
I'm not sure I agree with the post. Bitcoin isn't really a currency. It's more of a commodity. It's also deflationary. So when demand stays the same price goes up. Other currencies will have the same problem, but since they might have a larger cap it will take longer to reach. As with anything do your own research. Consult several sources.
i agree, as with anything do your research. esp. with this your going in knowing your taking a chance. sometimes you win sometimes you lose but to me its worth a shot atm.
I'm not sure I agree with the post. Bitcoin isn't really a currency. It's more of a commodity. It's also deflationary. So when demand stays the same price goes up. Other currencies will have the same problem, but since they might have a larger cap it will take longer to reach. As with anything do your own research. Consult several sources.
Too late, I sold all my Bitcoin and put them into Litecoin.
Lost some money so far on that investment but I'm planning to hold for a long time so no worries yet.
Lost some money so far on that investment but I'm planning to hold for a long time so no worries yet.
Successful investors focus on where they think the price is going, not on where it has been. They do not hesitate to sell, whether at a loss or a profit, if they don't see an investment heading up.
Bitcoin is the money of the future. Beware of the imitators.
yet you're wasting your time here giving warnings lol
im kind of wondering if the thread was actually made t o stop people from mining altcoins - so they could actually mine more of them at lower difficulty.
There is nothing wrong with taking some risks with altcoins. Bitcoin was a huge gamble and risk early on as well.
There is nothing wrong with taking some risks with altcoins. Bitcoin was a huge gamble and risk early on as well.
In my opinion is same like big companies ,there are those big one like apple and samsung ans small one like alview ,put at a point if people invest in the small ones ,they can get big like huawei did 
. At one point people will lose intrest in bitcoin and move to and other currency.
. At one point people will lose intrest in bitcoin and move to and other currency.Cryptocurrencies are not stocks, you dont invest buying coins so the Cryptocurrencies can use more money for growing business, you buy the coin if you see some value in the coin so you can use it (spend, sell)
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