People used to regularly post complaints that bitcoin was broken economically because a proper currency should not stop making new coins, so if only to shut them up by being able to point to a coin that was designed to do what they said needed to be done, such a coin was made available for them to use instead of bitcoin so they would not have to feel they were somehow being forced or coerced into using a broken economic model.
So the continuous rewards are in at least some cases not there for the miners but, rather, for the people who rabidly insisted that was the proper way a currency should be. The rewards do go to the miners though, it is just not always the case that it is for them that it is set up to do that.
Interestingly, the very people who screamed and shouted that that was the one true way never did actually use the coins that were created "for them". Hmmm.
-MarkM-
Topic: What's with value of Alts today? (Read 1882 times)
I guess I shouldn't knock all alt coins. I do not know much about some of them. But it seems many of them are trying to fix something that is not broken or trying to cater to a special interest. Like coins that have a constant block reward for miners. So I do not have any alt coins.
They never had any value with me in the first place. None of these Alt coins are as good as bitcoin, IMO.
Hi, you are obviously a long time member who must have seen many worthless ALTcoins come and go, I would be interested to know if you do hold any amounts of alt coins as a way to 'spread your bets'?
I personally have mostly BTC/LTC (the majority switches between the two as i switch them as prices fluctuate for a profit), with very small holdings of other alts just incase they explode in value (I dont have much faith in this actually happening). I feel that this diverse holding reduces risk.
I am also keeping a good percentage of my holdings in LTC aswell as BTC because, although BTC may be the 'king' now - it may not always be - regardless of which is actually better. think VHS vs Betamax, or Myspace/bebo/facebook etc.
They never had any value with me in the first place. None of these Alt coins are as good as bitcoin, IMO.
You guys should create another alt coin to throw all your miners at, this will make you feel better. Trust me.
I totally agree... I need a fix... I'm shaking here.
CocaineCoin, MethCoin, and TobaccoCoin. You can quit mining them anytime you want...promise...
You guys should create another alt coin to throw all your miners at, this will make you feel better. Trust me.
no value!
Saturation, however BQC is the new kid in town, BTER price rose 140% in a few minutes ...
My analysis show that LTC has gained market-share at the expense of all other Alts, but BTC has not moved significantly against the alts.
Quote
It seems these people actually believe in their coin
Believe my ass, they have it by buying it early or mining it as they missed trains on earlier coins so they pump it up so they could sell it for good price. Most of them don't have idea what it is about.
I got caught with pants down with CNC though I was purely speculating on it's price. I hope I'll manage to recover as I haven't got in at too high point but if not, whatever, each buy is risk, I know that when hitting buy button. I wish bitcoin transactions are fast as CNC ones though.
Mincoin actually rose 50% today in comparison to the other altcoins. Likely due to the low inflation of the coin (only 2800 mined a day).
http://www.mcxnow.com/exchange/MNC
http://www.cryptocoincharts.info/period-charts.php?period=2-days&resolution=hour&pair=mnc-btc&market=mcxnow
http://www.mcxnow.com/exchange/MNC
http://www.cryptocoincharts.info/period-charts.php?period=2-days&resolution=hour&pair=mnc-btc&market=mcxnow
The problem with all of this is that many of these altcoins have such low trading volume on the exchanges that it doesn't matter. If you were to mine a lot of them, good luck getting rid of more than 1 or 2 BTC worth of them without clearing out the buy book all the way down.
^ +1.
I've been warning people that were investing in Feathercoins/Chinacoins/Whatevercoins that this was going to happen. But, they labeled me as a troll and drug my name through the mud time and time again.
There is/was an incredible marketing force pumping prices up by creating many threads, and trying to spark interest here on the forums. It seems these people actually believe in their coin, which is the crazy thing to me. They go around spreading butterflies and fairy tales about their coin- "it's going no where but up."
But waiting in the shadows (or talking up the coins themselves), there will always be a bunch of miners/speculators/hoarders waiting for the most opportune time to dump the coin on the suckers that actually believed their sales pitch, leaving them holding onto the worthless coins that they paid way too much for.
In summary... I hate to say I told you so, but I'm not that sorry because most of you were rather rude to me when I was speaking my mind about Feathercoin/chinacoin/whatevercoin. I hope maybe some of you learned a good lesson. Welcome to the world of ALT coins, no hard feelings here.
Cheers,
Ch
There is/was an incredible marketing force pumping prices up by creating many threads, and trying to spark interest here on the forums. It seems these people actually believe in their coin, which is the crazy thing to me. They go around spreading butterflies and fairy tales about their coin- "it's going no where but up."
But waiting in the shadows (or talking up the coins themselves), there will always be a bunch of miners/speculators/hoarders waiting for the most opportune time to dump the coin on the suckers that actually believed their sales pitch, leaving them holding onto the worthless coins that they paid way too much for.
In summary... I hate to say I told you so, but I'm not that sorry because most of you were rather rude to me when I was speaking my mind about Feathercoin/chinacoin/whatevercoin. I hope maybe some of you learned a good lesson. Welcome to the world of ALT coins, no hard feelings here.
Cheers,
Ch
Mincoin actually rose 50% today in comparison to the other altcoins. Likely due to the low inflation of the coin (only 2800 mined a day).
http://www.mcxnow.com/exchange/MNC
http://www.cryptocoincharts.info/period-charts.php?period=2-days&resolution=hour&pair=mnc-btc&market=mcxnow
http://www.mcxnow.com/exchange/MNC
http://www.cryptocoincharts.info/period-charts.php?period=2-days&resolution=hour&pair=mnc-btc&market=mcxnow
BTC is shaking, it's never a good thing for alts. Though some went down too much and not proportional to bitcoin.
Hopefully Bitcoin will manage to avoid bigger crash or Houston, we might have some problem
Hopefully Bitcoin will manage to avoid bigger crash or Houston, we might have some problem
What goes up must come down, particularly when you're talking about highly speculative alternative currencies with no real world use.
Especially since they'll have another 50-100 types of altcoins to compete with in the next month.
lol
The more coins the merrier!
What goes up must come down, particularly when you're talking about highly speculative alternative currencies with no real world use.
Especially since they'll have another 50-100 types of altcoins to compete with in the next month.
LTC (the main ALTcoin imo) has held pretty well so far today, I make it to have dropped less than 5% since yesterday when compared to BTC, yet its dollar price is consistent with or a little above yesterdays.
It is the only ALTcoin that matters at the moment imo, It can serve a genuine purpose alongside BTC.
It is the only ALTcoin that matters at the moment imo, It can serve a genuine purpose alongside BTC.
+1
What goes up must come down, particularly when you're talking about highly speculative alternative currencies with no real world use.
That's always been the case. I was wondering what the catalyst was for a simultaneous dump of all of them a few hours ago. I supposed the money's being moved over to BTC because that's where the current growth is.
Out of the alts, Litecoin is the only one so far that has had more development and markets available compared to clone coins that really only get traded on exchanges at the moment instead of being used to buy things. I daresay it is probably more decoupled from Bitcoin than the other coins as a result, meaning it is less susceptible to price fluctuations resulting from Bitcoin going up and down. Just really need to get its own dedicated fiat exchange without needing Bitcoin as an intermediary step, and something like a Bitspend equivalent to really get it taking off.
For the rest of the alts, would be advisable to start doing the same, or else face eventual extinction. That said, would be nice if there was a universal equivalent of Bitspend, would make using the coins I've mined to buy things more easier (particularly tunes from Beatport or other music sites).
For the rest of the alts, would be advisable to start doing the same, or else face eventual extinction. That said, would be nice if there was a universal equivalent of Bitspend, would make using the coins I've mined to buy things more easier (particularly tunes from Beatport or other music sites).
Jump to: