Topic: THE ALT CURRENCIES BUBBLE IS BURSTING... - page 5. (Read 5690 times)

I have been saying this for some time.. glad guys are seeing what is actually happening !
recognizing we have a shitty situation that continues to get worse is the first step in moving forward.

I'd say the decline started when Doge coin became popular..
It triggered a wave of cloning we never seen before !

Then we went to anon coin gimmicks then IPO style shit coins.

If i can't mine the coin on launch i won't touch it .

so..
I don't think it's dead and there is nothing that can be done.
I think if we had 51% or greater of the Altcoin population admit this stuff is fucked up we can do things to improve the situation.
But first step is admitting there is a problem and *most people refuse to admit it.
They keep crying it's just a phase and things will magically fixz itself later for some magical reason.
NOPE.
Things don't get better for no reason.. if it does it's because because we worked hard to make it better !
And i have been busting my ass working Overtime to make things better as i endlessly get told i am FUD'ing or just jealous i didn't get in on some scam token etc..
AUR is a good example i could have made around 75 grand think on that and i stopped and thought about it and thought i just can't..
I can't take part in scam coins that go against my beliefs and philosophy on this stuff.. i have limits and shit like AUR is the line.
So i have been doing my part and if it gets better it's because guys like me worked our ass off to make things better
and some of us did not jump on the greedy cash grab supporting scam coins for $$$
While other guys worked hard to make things worse..

You are obviously interested in a (very expensive) hobby since mining is not profitable at all. So, as a hobby, you can pick and choose on which coin you want to be scammed or otherwise get your money. If you, on the other hand, are a serious investor, first just buy Bitcoin. Keep them. Sell them when you have 15% profit. Then wait for it to come down. Rinse and repeat. Or, buying at current prices, just put them away and don't even think about it for a couple of years or when it is front page in the Wall Street Journal -at which time it will be the signal to sell-. Dont even think in investing in any altcoin... at least until this burst has concluded. Then there will be a few surviving projects perhaps worth of investing in them at 10% their current valuations. Not before. And even them, be very cautious, and whenever you get a 30-50% profit opportunity, dump it, because no matter what the project is, you are being played by the devs/P&D operatos and simply you just cannot win in the long run.

https://bitcointalksearch.org/topic/m.9628252

There is only the pump.

Another good coin that will be a major market mover is BitBay. It has smart contracts that make scamming damn near impossible. Scams are a huge concern lately and this address it head on. 

Check out Ethereum, Counterparty, NEM and Nectar among them - serious teams, serious concepts, serious focus on **adoption** and a serious passion to succeed.

https://bitcointalk.org/index.php?topic=800004.0;all

https://bitcointalksearch.org/topic/ann-crypto25-the-first-professional-altcoin-index-860033

finally! sell sell sell

Heh! That is called averaging down, down and averaging further down into oblivion, commonly known best bussiness practice!
Stop mocking us

PS: bags for sale, cheap coins

Bookmarking this one. We'll all come back in a year and re-evaluate

My friend Armis told me about alt coins and I'm looking for a few coins to buy. I am setting up for mining bitcoin also. Since you are saying alt coins are bursting, what coins do you recommend for my duckets?

Bursting?! It's already burst. It's done.
Except for a few exceptional coins and dev teams focused on **real** adoption (Ethereum, Counterparty, NEM and Nectar among them).

Man, you are becomeing a bit radical, if I go to that extremes, the only thing which will have real value for me is FOOD... That assets doesn't have many value now because many of them are future projects, but don't tell me that assets like coinomat which is backed by a company paying dividends from a real bussines doesn't have value either, because if so, any company assets have. The jl777 assets have a rational earnings incoming plan at least.
You are right about many coins doesn't have any value because you can't do anything with them and about all that millionarie IPOS that delivered shit and kept small users bitcoins, but in the end they have more or less the same potential as bitcoin, bitcoin is becoming worthless, I think is the coin which more centraliced is becoming, all new supply is going to scamers hands and big mining companys, because many small users usually throw their bitcoins to shitty IPOS expecting their 10000x return.
The entire alt world is traded by the same group of people and all the money is flowing to the same ands and stoping there, and the remaining money is decreassing every day, like you said, the aren't money left for new IPOS.

Only plattforms which abbandon this altoin poissoned enviroment will have chances to remain here, and this only seems done by nxt, counterparty, bitshares, ethereum, ripple and emunie when it launchs, they are usefull for real world usage and although they worth shitty cents, are the only thing which I can use for something and the essence of decentaliced solutions to real world problems as initially intended by bitcoin.
I always say my favourite choice is nxt, with only 21 bitcoins, they have built an incredible plattaform competing with bitshares millions IPO and similars

In conclusion, the crypto enviroment is becomeing as shitty as fiat, we do it ourself at small scale, the money end controlled by few guys "call them scammers, unethical or genius" but none have forced us to do so.

It isn't just part of the deception; it is that the whole thing has evolved into, mainly, a giant pile of raw crap. I'll give you an example: What used to be Veriradio. A on-man operation (with tech support by another one) with an "audience" of 25 at the highest point... It consisted of a bit of old folk's music and the soporiferous ramblings of a die hard fan. It is, obviously, a very cheap hobby, right? Well, enter James Lee (Jl777) and he decides that such a thing is an "asset" (he has created a bunch of those) and as such it will not only be given to owners of his others "enterprises", such a NxtVentures, The SuperNET and Jl777 hodl, but also, maybe, traded separately. Son you have something worth absolutely nothing, that now, as an "asset" -because James says so- can become, perhaps, something with some trading value. The old-fashioned hat trick brought up again. But crap, sold as "assets" or otherwise, remains just that: Crap. Take a closer look at all the other "assets" and you will begin to se the profile of quite a picture, I assure you.

There's complete useless crap and a few others that have a chance at surviving like Counterparty, Bitshares, Ripple, Ethereum and NXT.

Yeah,it seems we're in a process where different altcoins happen to be not so what they have been supposed to be and it turns out to be just a different story.And now this patters in being more and more recoginisable by more people.

I am glad that people have stopped buying ico - https://bitcointalksearch.org/topic/never-buy-ico-bytecent-eqx-sys-craig-vior-845494

This is the way it has been for months now. People were trying to squeeze out last few drops of inexperienced, gullible bloods and take from pockets of new comers until we get to now where there really isn't any easy money left.


Everything said here is correct.


The real difference makers will be professionals and actual value creators doing their own thing and soliciting investors on their own - and rest of current crowd is either going to be in a very difficult financial/legal/personal safety position and will learn their place soon

The fact is, pump and dumpers the scammers have ruined 2014 completely and drained the new eager money from all those people who had dreams of becoming rich in few months. They destroyed the scene and are now sitting on stashes of btc that they hope to cash out during the next rise.


Here's the news. Agencies and authorities are watching. They know who the 'players' are. They are perfectly aware of what they can do to these people one way or another. Best yet, they can ruin their chances of profit with their far greater financial and brute force if they really wanted to.

With such people waiting to cash out, you can forget about btc rises until such people are liquidated one way or another. Professional will do their own projects and start their own cryptocurrency fame - and markets will move on to them instead.

... Yep. The process is already in motion. And everyone that has been "here" for a while -a few months at least- can easily see it as it develops: The Alt currencies bubble is exploding. I know, I know, there are still eternal believers who are holding considerable bags already on every one of the 500+ alts still somewhat alive. They believe so called "established coins" the likes of Black Coin, Dogecoin, Darkcoin, Nextcoin, Vericoin, etc, currnetly trading at multimonths lows (DOGE is one exception, but not for long), are about to rebound. They don't believe they will go "any lower" or, when they have posted such things, change to "not much lower" as the coins continue hitting new lows of many, many months almost daily.

What is going on? Well, it is really very, very simple. Much like the internet bubble in the stock market during the last couple of years of the past century, where companies such as Yahoo and Amazon were given multi-billion dollars valuations from the get go, on pure speculation, ALL alts are just that, remain just that: Pure, raw speculation. No one believes, at this stage, that any of them will ever have a practical use and even if some believe some of them will eventually have one, no one, absolutely no one, is willing to wait what is obvious by now it will be, best case scenario, several years of waiting. And then not only no guaranties of any reward but, logically, something much better would have come up in the meantime.

The alt world is very, very small, money-wise. And very, very big in amount of projects ("coins"). And the money supply is dwindling lower every day while the offer of new projects increases practically every day. These new projects coming up are a mixed bag of the usual run-of-the-mill-copy-paste-hack-job and some really interesting and promising ones. It doesn't matter: There's no money left for any of them. I'll give your 4 recent examples: SEED (was able to collect 7 BTC, most of it from their sponsors, the entire dev team of PINK), BYC (60 BTC, in spite of the significant amount of followers of its controversial developer, IconicExpert) and BRO (276 BTC -the suspiciously collected an extra 100BTC on a surprising "bonus" extension to their very long ICO, offering a 70% discount in the price, so I won't couint those that are more than probably of a known origin to the developers-, in spite of being a project supported for very well know celebrities in the field of poker and being the first project that, upon completion, will allow its holders to actually use the coins immediately for gaming). The developers of BRO were initially expecting to collect up to 15,000 or more BTC. IconicExpert surely was expecting much more than he got and the PINK devs -and everyone else- were expecting also much more than the paltry 7 BTC their sponsored copy/paste/hack/job was able to collect. Why such terrible results when at least 2 of those projects are innovative and full of promise? The answer is as simple as this: There's no BTC available. No liquid money in Alts. Everyone is fully invested in bags that hold losses from 70-90% and higher and expect rebounds to cut those losses somehow.

Well, it will NOT happen. The opposite will indeed occur... it is, as a matter of fact, already in full progress. And will result in further losses, in ALL alts, from 75-95% from current valuations. Why such dire prediction? Think a little bit, ok? The only money available is the one held by the P&D groups of the Prometheus, Black Hand, BobSurplus, etc. They have "cleaned up" the kid's pockets already. They themselves have no more projects where to rein in... One example: They -some of them- have camped on the latest P&D crap: BAY. They bought their big bags and are unloading already, slowly, part of the dump. Not because there isn't people that would otherwise "bitten", but because those people have no money left. So using all those newbie handles, all those hours of pumping, is proving an exercise in futility. The gig is up. Bubsurplus will probably have to go back to peddle in printing toners. Prometheus has no more use for Dan Metcalf and Dan himself will have the IRS on his behind for anything he might have gotten out of his very unethical dealings. Even those that have lined up their pockets with their scams and schemes are left with a bunch of BTC... a very devalued BTC, by the way (but that is another subject altogether). But the main reason, as pointed above, is that there's no practical use for ANY alt currency and none is used for anything. Their only "value" is the one given mostly by robots trading them all day on pure and simple speculation. Try to sell any decent amount of ANY coin, and you will have a quick and expedite glimpse on what the real value of the coin is. I can give you that value right away: Between 75-95% below what the last trade on it was. You can pick ANY "established" coin, they are all in the same situation.

So -and that is the point of this long post-, if you want to salvage something of what you put into this bubble, do it now and do it very slowly or you will lose it all in a hurry. Within a few weeks, maybe before the year ends, maybe shortly thereafter, all those "established" coins are going to be at their real valuation, which will be between a 5% and 25% of the fictional ones they have currently assigned in Coinmarketcap. Just distance yourself from your current involvement and ask your common sense: Is DOGE worth $21 million? why? what can you do with DOGE? And then change the word DOGE for BLACK, VERI, PEER, DARK or ANY of your choice.

Oh I can feel the denial creeping in on this thread as soon as I post. Crazy, will be the adjective of choice, inevitably. OK. Let's see what happens. The timeline may not fit -it probably will take a bit longer to full effect- but surely you wont have to wait too much longer to corroborate just how off mark I was.