Seems an abuse of the term developer. Usually they are far far from being developers. If they were developers they could develop something actually useful, probably useful to a lot of currencies/coins, way more useful than yet antoher garbage crapcoin they do not have enough hardware to secure nor, usually, any actual intent or even desire to secure it.
If you are a developer pick a secure coin and develop stuff for it. All the secure coins can also make use of it. There is no need for more coin types just for more actual things developed which actually make coins useful.
For example you could develop a secure exchange system, in which no-one's balance can be changed without their own private keys on their own machine signing off agreement with the change of their balance, like Open Transactions does.
-MarkM-
Topic: The point of cryptos is sadly being destroyed - page 2. (Read 2961 times)
How to fix this before a potentially great thing gets killed off?
Unless exchanges become more reliable, cryptos simply won't get greater public acceptance. People like to say crypto problems/falling prices are due to scams... and yes, if you mean exchanges 'losing' money ... but as far as coin devs scamming people, I really doubt there is any correlation to falling prices or 'killing off' cryptos. Let the market decide which coins live, and which fade away.
Solid12345 made a great post in that shitcoin killing thread, probably the only one even worth reading ... will repeat it here --
Quote
Quote from: solid12345 on March 26, 2014, 03:27:53 AM
This is what I find hilarious about this whole drama. All the naive Aspies who spew venom at Altcoins are in the same exact boat, a shadowy mysterious developer who won't reveal himself, distrust by the general public that what they are running is a pyramid scheme, attacking alts for "having no infrastructure" or "wide merchant acceptance" when neither does Bitcoin really (sorry but a shitty little wordpress storefront selling giftcards and GPUs doesn't count as "wide" merchant acceptance in my book), and a majority of the coin wealth owned by an elite few (the top 1% of bitcoin holders hold 80% of them, and here we think a 1% premine for a developer is greed).
Mark Karpeles and Charlie Schrem did more to betray the trust of crypto in the eyes of the general public then anyone and they were "one of the boys" around here and put on a pedestal. Most people who even have the vaguest idea of what Bitcoin is have no idea what Litecoin is and certainly have no clue about alt coins, so to blame alts for the state of crypto is disingenuous.
I think what really upsets some of the "old guard" but that they won't admit to, is they are upset that many noobies are not wanting to pay the $500-$1000 "tax" to buy a bitcoin and join their elite club and instead are gambling on these penny stock coins hoping to get rich. Well guess what fellas, you created this madness when you yourselves speculated Bitcoin from dollars and cents to $1000 a coin almost overnight (Litecoins rise was even more meteoric and questionably boosted in only days) What did you think would happen but attract a new breed of investors looking to get rich quick like you did?
This is what I find hilarious about this whole drama. All the naive Aspies who spew venom at Altcoins are in the same exact boat, a shadowy mysterious developer who won't reveal himself, distrust by the general public that what they are running is a pyramid scheme, attacking alts for "having no infrastructure" or "wide merchant acceptance" when neither does Bitcoin really (sorry but a shitty little wordpress storefront selling giftcards and GPUs doesn't count as "wide" merchant acceptance in my book), and a majority of the coin wealth owned by an elite few (the top 1% of bitcoin holders hold 80% of them, and here we think a 1% premine for a developer is greed).
Mark Karpeles and Charlie Schrem did more to betray the trust of crypto in the eyes of the general public then anyone and they were "one of the boys" around here and put on a pedestal. Most people who even have the vaguest idea of what Bitcoin is have no idea what Litecoin is and certainly have no clue about alt coins, so to blame alts for the state of crypto is disingenuous.
I think what really upsets some of the "old guard" but that they won't admit to, is they are upset that many noobies are not wanting to pay the $500-$1000 "tax" to buy a bitcoin and join their elite club and instead are gambling on these penny stock coins hoping to get rich. Well guess what fellas, you created this madness when you yourselves speculated Bitcoin from dollars and cents to $1000 a coin almost overnight (Litecoins rise was even more meteoric and questionably boosted in only days) What did you think would happen but attract a new breed of investors looking to get rich quick like you did?
That would be due to bitcoin prices then
Quite likely it is the other way around, scammers raking in huge fortunes on insane scams and using bitcoin to cash out to fiat since their scamcoins usually do not trade directly with fiat. So whatever coin (probably bitcoin and/or litecoin) they use to cash out their ill-gotten gains to fiat gets its prices suppressed as they don't much care about getting a good price, its faster to clone more scams than it is to wait to get a "good price" for whatever you use to do your cashing-out through...
-MarkM-
Open-source does not mean devoid of greed, it means that everybody has an equal chance at being greedy, and that's wonderful.
What can be done to improve the crypto market and limit shitcoin scams? That will happen on its own quite soon, when the noobs will have been burned enough times that they'll decide they don't want to be scammed anymore
Really, free market will take care of this....everybody has an equal chance at being greedy, and that's wonderful.
You are wise, and able to explain your ideas well.
The way I see it, even though there are many copy-coins in the market that bring nothing new other than a name. The market will cater towards the cryptos that have the most development and growth potential.
Isn't this what happened during the tech boom in the stock market which resulted in a tech stock crash(at least in the US)? If I remember correctly all these new cryptos all started after DOGE right when it exploded in popularity? Hence we got the Catcoin, Moon, Flappy, Corgi, etc, etc.
Every new market has a period where everyone tries to copy one another as they see potential money. When no new money is coming in and miners can't sell there mined coins. It all evens out with "natural selection" where the strongest survive.
Isn't this what happened during the tech boom in the stock market which resulted in a tech stock crash(at least in the US)? If I remember correctly all these new cryptos all started after DOGE right when it exploded in popularity? Hence we got the Catcoin, Moon, Flappy, Corgi, etc, etc.
Every new market has a period where everyone tries to copy one another as they see potential money. When no new money is coming in and miners can't sell there mined coins. It all evens out with "natural selection" where the strongest survive.
The free market will sort things out.
yes always the default answer to those who are apathetic.
That's not apathetic. That means thinking that we, who are the free market, have enough rationality to steer the cryptos in a profitable way in the long term.
profitable?
The free market will sort things out.
yes always the default answer to those who are apathetic.
That's not apathetic. That means thinking that we, who are the free market, have enough rationality to steer the cryptos in a profitable way in the long term.
The free market will sort things out.
yes always the default answer to those who are apathetic.
The free market will sort things out. It was naive to imagine that the good would come without the sin the humans bring wherever they go. But Adam Smith's invisible hand will save the day. That is, if self-appointed fascists don't wreck things first in their efforts to impose their will on others who are interested in altcoins they disapprove of.
Educate, but don't coerce. Let people think for themselves. That's all I ask.
Educate, but don't coerce. Let people think for themselves. That's all I ask.
the good ones will stay. the bad ones will be gone soon.
sadly too be replaced by 10x more bad ones
Cryptos are still young, they have to pass through their phase of messy childishness!
They'll mature one day, if we keep putting our trust in them they will grow.
the good ones will stay. the bad ones will be gone soon.
sadly too be replaced by 10x more bad ones
the good ones will stay. the bad ones will be gone soon.
+1
The crypto market wasn't started with motivations of selfishness or greed!
If it was it wouldn't be open source and wouldn't have been able to grow as it has!
Lets keep the conversation on point, what can be done to improve the crypto market and limit shitcoin scams?
If it was it wouldn't be open source and wouldn't have been able to grow as it has!
Lets keep the conversation on point, what can be done to improve the crypto market and limit shitcoin scams?
Open-source does not mean devoid of greed, it means that everybody has an equal chance at being greedy, and that's wonderful.
What can be done to improve the crypto market and limit shitcoin scams? That will happen on its own quite soon, when the noobs will have been burned enough times that they'll decide they don't want to be scammed anymore
Really, free market will take care of this.
The crypto market wasn't started with motivations of selfishness or greed!
If it was it wouldn't be open source and wouldn't have been able to grow as it has!
Lets keep the conversation on point, what can be done to improve the crypto market and limit shitcoin scams?
If it was it wouldn't be open source and wouldn't have been able to grow as it has!
Lets keep the conversation on point, what can be done to improve the crypto market and limit shitcoin scams?
Free market will solve all issues. Stay calm and carry on.
free market will only solve the issues if it operates under enlightened self interest.
since the crypto market is mainly motivated by only selfish interest, you're pulling the wool over your own eyes.
Selfish interests are no threat to cryptos. Selfish persons that are able to view the long term know that their interests will gain value only if the person is benefical to them, if he acts in a way that actually gives them value.
The only small threat are short term gamblers who want to get rich in one night on a new crypto and lose it all in a week. This is not selfishness, but plain desilusion. These actions are not sustainable, and those who engage in it will ultimately wallow in their own filth while the truly selfish persons will prosper.
Free market will solve all issues. Stay calm and carry on.
Exactly. Cryptos are too important and grand an idea for them to possibly be destroyed by petty looters.
Free market will solve all issues. Stay calm and carry on.
free market will only solve the issues if it operates under enlightened self interest.
since the crypto market is mainly motivated by only selfish interest, you're pulling the wool over your own eyes.
Free market will solve all issues. Stay calm and carry on.
Free market would be great but is it really possible to make it "free"?
Yes, nobody is forcing anyone to buy coins or trade at a particular exchange. If an exchange keeps getting hacked people will stop trading there. If a coin is shit people will stop buying it.
Free market will solve all issues. Stay calm and carry on.
Free market would be great but is it really possible to make it "free"?
Man, I hear ya BUT you cannot protect people from themselves.
Agreed.
If miners stopped responding, then shitcoin devs wouldn't create bad new coins, so...
Blame the miners!
Only support the coins that meet your high standards.
The others will fade away soon enough.
Blame the miners!
How to fix this before a potentially great thing gets killed off?
Only support the coins that meet your high standards.
The others will fade away soon enough.
Agreed.
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