Topic: Reality check on alts - page 3. (Read 3860 times)

I started investing in BTC when it was at $50. I accumulated 47BTC at a DCA of around $75.. After the huge rise to 1200, I got greedy and wanted to maximize my profit so invested most of my gains into alts. I now have almost completely lost it all. I will be 100% BTC moving forward other than the 4000 ETH that's locked in anyways until an unknown date if ever.

I got burned. it's BTC for me from here on out.

Communists like CryptoHunter... have created the Scam Alt Assembly Line.

Because profit incentive is illegal in Communist countries...
Communist economies are completely taken over by corrupt Govt officials and Criminal Clans...
And honest, smart, hard working people can't compete in any way.

CryptoHunter promotes an ideology where an honest, hard-working genius launches an innovative new Alt...
But CryptoHunter will make DAMN SURE the Dev loses money, can't even get a fucking dime for expenses...
Because CryptoHunter wants the entire corrupt Ecosystem to rape the coin and suck it dry...
CryptoHunter will fight for BotNets, sleazy ASIC resellers, corrupt exchanges, Coin Pimp Pumpers, creepy Cult Builders, etc
BUT  GOD  FORBID  THAT  THE  DEV  SHOULD  GET  EVEN  THE SMALLEST  PIECE OF THE PIE.

The system here is anti-capitalist, un-American, based on stealing other people's work...
It's a total perversion of what the open source movement started out being.

Until we run people like CryptoHunter out of town and change the culture starting with DEV GETTING PAID...
The Alt Space will remain a stinking backwater overrun by criminals.

Alt coins is more high risk high reward. Still profitable, just gotta be careful you dont get burned.

The concept of "mining" is already considered outdated and an impractical waste of resources by most people here.

It is by far bitcoin's biggest detractor as a viable currency. Instead of creating a financial revolution, bitcoin has created the greatest waste of electricity the planet has ever seen.

Far too much time is spent discussing a technology that requires an unsustainable amount of electricity to survive.

 

Yes, I know, I was quoting spotnic but I had your response in there, you liked it tho 

I don't mind him, He is not spamming for add campaigns, He is not rude (so far) I'm 

i didnt say that
im sure u have something important to share
we just noticed lots of legendary members saying they r the messiahs
not u bro

~CfA~

  I agree, I don't understand why I don't post more often to get such smart comments back  I will have to post more often, As someone who does not post often in this section, on this forum, obviously has nothing important to bring. 

say someone with Trust: -17: -3 / +0(0)
Warning: Trade with extreme caution!


--> Ignore
cabbagehead, he's spamming into every diskussion 

+1

like all the never seen hero member and legendary member who come here lately playin the new pimps LOL

~CfA~

i don't have much use for opinions from guys who post in the Altcoin section once a year sorry..

You can't know then that Bitcoin was instamined for months by Satoshi. He was 75% of the network hash at times.

I have a plan on how we can turn the altcoin wreckage into a literal Goldmine.

- Consolidate development.
- Concentrate our collective energies.
- High vibrational.
- True decentralization.
- Positive focus.
- Low entropy.

It's time to consolidate our forces and concentrate our collective energies into a high vibrational positively-focused competitive powerhouse. If everyone would sell 10% of their current holdings and move those funds into Goldcoin, we could build a mighty force of early adopters and talented developers.

A community with the collective power to roll out infrastructure and bring a true decentralized cryptocurrency to the masses.

Alts are outcome of bitcoin and its success.They couldn't be unseen either while some of the many had many their way till the up and stood out reaching a price level

I think the majority of people agree that most altcoins only exist to make money for their "developers." It's really a mess. The word "innovation" is used all over the place, so much that it has lost a lot of meaning. A central issue is that it's really easy to fork Bitcoin (as it should be), so a dedicated scammer can make multiple coins in a short period of time.


Digital commodity? Commodities and currencies are two different things. Sadly, I agree. Even Bitcoin is thought of as a commodity by many, rather than a currency.

I like to think of alt coins as the .com bubble. There were companies everywhere preaching innovation and products that didn't exist. Investors threw money at them hoping they could catch a winner. Alt coins are the same idea.


If you look at those .com companies some made it big. Most failed and were forgotten by everyone except the investors. I feel the same outcome will occur with Alt coins.

We have a full fledged alt coin war going on right now. This war has pitted all coins against each other and only a few will survive. For me it can't happen soon enough.

I have found the coins I feel are winners and have spread my investment around. None have a pre-mine or ninja launch. None are PoS, all PoW.

We want unregulated and that's what we got. We have to push the BS coin aside and look for the gems.

The part that kills me the most is that we're trying to go mainstream. Now think of yourself as a new investor. You finally figure out how to set up a wallet and purchase some BTC. What are your chances you're going to make money off of an Alt? How many will get scammed? How many will never return? We could have had these investors as crypto enthusiasts and they could've been a great resource to bring crypto mainstream. Rather than that we have someone who now hates Crypto and makes sure to tell 10 of his friends about his negative experience.


I'm not naive enough to think we can avoid this but all the infighting between coins, FUD and general misinformation we all spend too much time defending is taking our resources away from building our community (as crypto in general) and innovation. Once the alt coin war is over, we should be able to refocus on the survivors. New coins will hopefully only survive if they bring something new/better to the table. The Alt coin crypto market will grow, become harder to manipulate, and we can welcome new blood.

One thing for sure; easy money for the everyday trader is no longer possible in the altcoin biz unless you are a damn lucky gambler.  

Going "long" is really dangerous. Even established coins have lost tremendous value in recent months and may not survive.

 Obviously,  the scum/scam/quickrichschemes have done irrepairable damage.

 Sadly, more and more money will leave altcoins. Who will survive and flourish? I guess you have to acknowlegde those coins who still manage to stay in the top 10.

Safest place for money is btc. Why challenge the risk on altcoins when you can trade btc with those nice 100 dollar spreads?

I disagree.  99% would be closer to the truth.  1 out of 100 alts.  Or maybe 5 out of a 1000 alts.  So 99 or 99.5% are devs who want to get rich.

As a sympathizer to crypto I don't understand a damn of what's going on.
Seriously, launching RIGHT NOW, 7 day pow... I cannot even understand what's the coin supposed to be it's already not minable.
I don't know how anyone could fall for that bullshit but it's clear in the meanwhile every other coin gets lets attention.
I can only hope I'm mining the one which will survive and go up.

Nonetheless, all coins, even legit ones are too geared towards the hardcore miner. Miner software is mostly a pile of junk and if you carefully look at it, it's clear they don't give a damn to people who don't want to commit a whole machine to mining.
Say goodbye to all those users which have a computer on already and would mine... while surfing the web or writing a document. Oddly enough, botnets are them.

As for the reality check... I wanted to mine a CryptoNote... but I still cannot find a single one fitting. Sad.