Topic: [?] What defines a Bad Altcoin ? (Read 824 times)

@spacehopper
i agree on MIA devs but take the Jackpotcoin dev for example..
i have been able to call him out on the topic anytime.
he's always around just not posting all the time.

so i am trying to say your right for sure but there is always a bit of an exception to the rule (what ever the rule)

the exception applies to other rules too.. same with Jackpotcoin's premine,
i would be against them period end of story but there has been times i was kind of ok with it
such as JPC or say ADT.. if the dev seems trusty worthy then...

what i kind of wanted people to answer for me is do they consider a pure "clone coin" a "scam coin"
i sure do.. i don't see too much difference between a guy making Doge coin for example vs a coin caught with a hack in the code etc

what i watched play out here is cloning become more and more popular and they use the method of staying quiet and saying nothing to their advantage.
they don't say on their ANN clone coin topics that they plan on supporting the coin for life with grand plans for the future..
in crypto it's important what key people do NOT say !

anyway i wanted to see if people agree i guess.. to me a scam is a ponzi scheme.
and many of these clones are clearly designed for a quick pump and dump and they are powered by the "but i can make BTC off them" guys who know they are bad for Crypto.

anyway thanks for the replies their all great
not trying to fight or push a coin or whatever.. like i mentioned JPC but i had criticized it myself on launch and backed up a guy bashing it before too
so yeah it like many coins CAN in fact be criticized.. they are all not perfect.. hell BTC had a premine right ?
just trying to talk with people here nothing more..

oh and..
what has bugged me for ages is how Pool operators have slipped past the radar on the scene.. they are a massive driving force behind crap coins
but they never get bitched at for their support of them.. the focus gets put on exchanges and users while the pool op's sit and smile making money LOL

Bad altcoins: nothing new related to Bitcoin or other coins
Things that make worse: dev afk too often, no long time planning, too much emphasis on profit, etc..

Below the bad layer you will find the scam layers, made for the dev get some coins and run

If the dev rarely comments in the coin's thread, and leaves gaps of weeks between comments, it's a really bad sign that he will run away after making some profit.

Many, many criteria to choose from. Some of my top warning signs:

1. Pumped on Bittrex
2. Paid Bittrex to be listed as an advertised "Spotlight Coin"
3. Tweeted about by Bittrex
4. Is an obvious clone of a successful coin w/ no new real innovation
5. Has a stupid, shitty or childlike name (BURN, VOOT, Boolberry, etc.)
6. Pumper team is far too obvious, obnoxious and omnipresent (XC and XMR, I'm looking at you)
7. 4 or more people currently fanboying and foaming at the mouth over the same coin in the Poloniex trollbox (means you should avoid this coin like the black plague)
8. Dev is a noob, notoriously shitty or their coin has anything to do with Iconic Expert, Bryce Weiner, David Seaman, Brian Kelly or Max Keiser.
9. The dev is clearly only in it for the short-term dump and doesn't give a shit about their coin's future.
10. It only goes down in value after the initial release and pump phase.

Bad coin is coin, that was made from sole reason to be money and be exchanged at highest price for some other money as soon as possible and do not solve any problem or give new innovation.
Bad coin is coin that was planed bad and some got it so cheap, that they dont care at what price they can sell it. Yes BTC is also bad coin.
Bad coin is coin that loses its developers.

Coins that are not bad, will all get its users and get adopted. Currently among 99% BTC users, sadly all coins looks bad, since they cant pick gems out of a sand.

I agree. I think a good alt coin will need to have something new, at least serve as an experimentation of the new technology, so we understand better the crypto coins.

Unfortunately in the space of alt coins there are too many coins that are simply copy-cats, nothing new and dev premine big amount, either publicly or with some twisted way to hide the premine, then promote the coins and dump. Too many high flyers if you look carefully, there's nothing new, only pure hypes.

I like Jackpotcoin too, it has many new technologies first invented in this coin, including a new hash algo, pow/pos separation, jackpot that accumulates over a period of time, and true randomness etc. It is a truly innovative coin.

Also I like Supercoin, which is the first to have PoS super random block. Also it developed the first truly p2p decentralized trustless anonymous wallet (they just published parts of the whitepaper), with multisig technologies. It looks very promising.

The problem today is people mainly blindly follow the promo, so those coins with nothing and rely only on promo and hype work. With more education of people, I hope they will understand which coins are good ones.

Ok so What defines a Bad Altcoin ?

i want you all to say what YOU think so the guys making the coins see what YOU say.
this is not a spring board for me to attack on some coins or something.
i intend on keeping out of it if i can lol

for me it just means a useless coin that does not fit a solid attempt at dethroning Bitcoin.
or at the very least a solid sincere attempt at being better than what is around..

for example i chose to support Jackpotcoin because when it was released a couple months ago
it was the best of the newer coins i figured and i seen it had some new features that were actually a step in the right direction for crypto.
the idea of using two separate Algo for POS and POW was a great idea !
and i wanted to pick the least worst coin to support pretty much.

anyway i thought it would be good for us to put it all on the table and talk about it !
like is a coin with scam code put in it any worse than a pure clone or a coin with just enough changes to say "it's different"
..I see it as same shit different pile.. ALL BAD !

but.. at least if guys TRY and make their coins seem legit that is step up sort of.. rather than not even trying (with clones etc)
lets think about what the outsiders think of all this too guys..