It's too easy to call all altcoins crap. Yes, 99% are crap. But there will be development, and it's hard work to find the 1% of innovative altcoins that have a chance.
If you don't want to consume too much time, then only buy Bitcoins.
If you buy altcoins to get rich quick, you already have lost.
And give not too much on volatility. Your win or loss is only on the trade itself, not on the exchange rate.
Topic: Newbies, stay away from altcoins. please - page 9. (Read 9229 times)
@ninjatflex, Mastercoins aren't mined. See the Mastercoin whitepaper (https://sites.google.com/site/2ndbtcwpaper).
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.
I agree one must be careful, but I also believe many of the alt-coins of today will be mainstream digital currencies of the future. The difficult bit is knowing which ones will prevail. Many will come and go quickly, and some will be around for decades... or more.
I don't see more than one cryptocoin coexisting as an equilibrium state. Because they are all similar, the tiebreaker will always be a coin's stability, and thus, market cap. At the other extreme, I think physical money is sufficiently different that it may take a while to be displaced.
[MtGox] also cannot handle this basic functionality called money withdraw
or charts
i don't see any reason for newbies to stay away from alt-coins altogether, but i'd recommend just doing it with a smaller fraction and put most (i.e. > 50%) into btc
I dont think its bad idea invest little money to some alt coins, if you can now buy like $0.1-$2 and that value is later like $1 or $10. I have buy LTC, PPC and little XPM and looking to buy few other interesting altcoins.
So. Let me get this straight. You want us to stay away for your competition? LMAO! Such "business" and "closed" like thinking.
I only wish you newbies to check whatever you are about to invest..
sounds like do your due diligence
How would one go about mining mastercoin?
I only wish you newbies to check whatever you are about to invest..
Even if a coin seems really good and you really like the idea behind it you should check it from top to bottom.. (someone said CryptogenicBullion ? tried it too.. but then I found out - https://bitcointalksearch.org/topic/m.3044315 )
just an example..
oh, and another thing, be careful on btc-e, its controlled by big holders and the prices are usually fixed by their bots, trade with extreme caution and don't be tempted to sell/buy when some price change is happening.
(Its really easy to see how the bots work there.. ever tried selling at the top of the orderlist? a bot will automatically outbid your order making you to change or consider(psychological affect) changing your order to sell lower (or buy higher when you are buying) those outbids will automatically appear the second you hit the button with an amount looking like this - 216.98147513)
Even if a coin seems really good and you really like the idea behind it you should check it from top to bottom.. (someone said CryptogenicBullion ? tried it too.. but then I found out - https://bitcointalksearch.org/topic/m.3044315 )
just an example..
oh, and another thing, be careful on btc-e, its controlled by big holders and the prices are usually fixed by their bots, trade with extreme caution and don't be tempted to sell/buy when some price change is happening.
(Its really easy to see how the bots work there.. ever tried selling at the top of the orderlist? a bot will automatically outbid your order making you to change or consider(psychological affect) changing your order to sell lower (or buy higher when you are buying) those outbids will automatically appear the second you hit the button with an amount looking like this - 216.98147513)
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
I've learned to laugh at every annoucement MT.GOX makes.
People told me they would release the LTC trading by mid September >.>
So I bought some coins at 0.02 BTC, and waiting and waited.
Freaking btc-e trolls, lol, but I was lucky, I sold them at 0.018 BTC.
I've learned to laugh at every annoucement MT.GOX makes.
People told me they would release the LTC trading by mid September >.>
So I bought some coins at 0.02 BTC, and waiting and waited.
Freaking btc-e trolls, lol, but I was lucky, I sold them at 0.018 BTC.
There was period when I mined altcoins, converted to BTC and bought the stuff I liked with BTC.
But now it is not profitabe for my electrcity costs anymore, so I see altcoins as useless coin
But now it is not profitabe for my electrcity costs anymore, so I see altcoins as useless coin
Just curious, how much was your electricity charges per KWH?
There was period when I mined altcoins, converted to BTC and bought the stuff I liked with BTC.
But now it is not profitabe for my electrcity costs anymore, so I see altcoins as useless coin
But now it is not profitabe for my electrcity costs anymore, so I see altcoins as useless coin
Ive only checked out bitcoins tbh, but thanks for the heads up.
DOn;t invest in alt coins (apart from BTC and LTC maybe), and don;t invest in bitcoin securities!
Agreed, most altcoins are pump-and-dump schemes, and by the time you find out about the coin, the dump has already happened and the coin will go nowhere.
Investigate alts and go from there. Make up your own minds.
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).
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).
Do NOT count on MtGox adding Litecoin, they believe there's an actual need for handling thousands of transactions per second with their imaginary Midas engine. They also cannot handle this basic functionality called money withdraw, so there is no hope on adding another coin to the system.
This is correct for newbies. For experienced users no. Investing in the right altcoin will prove to be much better than investing in bitcoin (in the future).
So what happens when they buy in at $190 and it dips to $150 like it will do now? The point is it's your investment no-one elses, don't listen to these people because they have no idea about the market it's your choice and yours alone. These sorts of threads are designed to trip newbies up, because others don't want mass adoption of others alts at lower prices, they want to raise the prices of their BTC and they know that other alts can dominate BTC entirely. So my advice is don't listen to anyone and make your OWN decisions.
It's always good for newbie to read a few opinion of others and decide on their own (like what I am doing now). If the newbie just follow blinding then its his problem...
I really don't mind mining alt coins. Investing money into it is one thing, but it doesn't really hurt much to mine a few alt coins. Some of the alt coin projects that are interesting are the ones that aren't simply clones and try new mechanics like Proof of Stake. Yes, many alt coins are merely pump and dump, but some are acting as proof of concepts to try and innovate crypto coin technology and I think those types are worth investing your hash rate into to see how well or poorly the new concept plays out.
Thums up!
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