Topic: Wow, Alt-coins.... Game over - page 2. (Read 8315 times)

It sounds like you have more of an emotional, gut-level response to DOGE, than one built on analysis or practicality. If DOGE were separated from its meme 'image' would you like it more?

Now there's a new attempt to cash-in on the Doge craze, with FlappyCoin (a pure clone) -- plus the previous "Kitteh" and other 'cutesie' alts.

Altcoins such as these are effectively a social game; an attempt to generate interest in a shiny new idea and influence for a short time, which could be banked into other currencies. Yes, they're primarily for fun, not for viable economic use. The principal harm they could cause is to those like you, who might be angered/turned off by such a (mis)use of crypto currency. The upside, though, is they bring more people to hearing about coins, and possibly learning about BTC.

That is just your opinion.

Fair point, but then the success of a PoW coin is not measured on how many satoshis it is worth, but rather if it keeps a sustainable hash-rate for transaction processing. If nobody uses a coin to buy stuff or to transfer money around the world, there's no need for mining.

Additionally, any crypto-currency is successful if it is useful, not how profitable it is for miners or "investors". I don't see them as an alternative to hedge funds or stock market, I see them as alternatives to Visa, Paypal and fiat.

oh we'll see about that.. Don't underestimate USDe...

They are only good for quick $.

+1

In the near future traders will not pay the bill for the miners anymore.

All you need to do is look at the charts. Nearly every coin is losing worth after a while.

95% from the coins deserve it to die and never come back.

Even though i mine, personally i think Miner greed is greatly responsible for the demise of Altcoins and investors have been the losers, alot of developers have also lost money when they saw the value of their coin go down which resulted in them abandoning their coins.

The thing is Miners are now running out of investors who are willing to buy coins, because every coin that gains some value gets mega-dumped by large miners and multipools, investors are tired of being bag holders. IMO Altcoins in the past 2 months created the greatest transfer of wealth from non-miners to miners. Investors are also looking at short-term trading (buy low new coin and sell quickly without holding), you don't hear about many 'holders' anymore since everyone kind of knows that miners will dump an altcoin to oblivion.

I"m not saying Altcoins are dead, but i think we're entering a new phase soon where only innovative coins built from scratch will have a chance of gaining some real value. The whole Mine+dump= free money concept will also end.

Also i think POS has more future than POW.

No if anything your the retard who fails the grasp that doge will evolve from beyond just a "meme" coin, which it has already begun doing which i wont bother telling you. Now if it succeeds that i dont know.

no i think the people talking about it are buzzed.. high and drunk off of greedy profits lol

who thinks a meme will stay popular forever ? ..hands
only a god damn ultra tard that's who..
aka: Doge Tardlets

It will be interesting to see if Doggy is still a hot topic in ~3 months. For now it sure has a big buzz.

The smart ones made BTCs of  the boom. There will be more, so get ready.

I'd like to see most of them die off.

man, you and Doge. IDK
It's in your damn sig

You're freaking me out

You predicted it would be gone long ago
You were wrong then, now you're running around with a "doge is bag" sig, talking about how long you've been around and how you are going fly thru the sky and give away your bitcoins?

IDK but I just got to wonder about who's "delusional"

But since you are going to "resurrect any dead relatives you may want brought back to life", I'll take all four Grandparents, as I see BTC, LTC, DOGE in sigs already AND see DOGE used as LTC is used on Coinedup.


So when you say, "I am not kidding one bit when i say you scare me.. i think you are so delusional i find it shocking and disturbing." believe it is I who is shocked and scared to see someone so freaked out over DOGECOIN

WTF  

Yes, I have to agree. You'll see the real money makers on this forum if you look closely enough. They leave when they know the game is up, and move on to the next potential boom before bust coin.

I could literally list ten coins off the top of my head that are dead, right now, being propped up merely by this circle jerk of optimism as you so eloquently put it. Too many people buy into the hype, and then get trapped in a sort of fantasy bubble disconnected from the real world. You have to learn when to let go and move on.

amazing how little research people put into their investments in the first place.  It's also sad reading some of the threads where noone but the biggest bagholders are left in a self-reinforcing circle jerk of optimism.  

objectively, few altcoins today could withstand a 51% attack with a few hundred mh.  the hashrate is spread too thin and the entire altcoin market is far more fragile than investors think there is.  the writing's on the wall but few resist the temptation for a quick buck.  

4 months and yet he already understands the game better than most people do.



I see dead Altcoins.

Walking around like regular Altcoins. They don't see each other. They only see what they want to see. They don't know they're dead.

--

The cold hard truth is that some coins end up just hanging on by its die-hard supporters. I'm not talking about the specific cases he mentions, but all too often do I see dead coins on these boards, and the die-hards hoping and believing that they'll rise once again.

Rule one of investing in my experience is emotional detachment.

Some are rising, some are falling and some are dead and don't even know it. The way it has been and always will be.

not true... Nxt is not a proxy of bitcoin and will surpass bitcoin on so many levels!

It's your definition of "network effect" in the context of cryptocurrencies that I am challenging.

I don't deny that if you consider "number of users" as a measure of network effect that Bitcoin is minimal. But my point is that number of users is not a very good indicator of how established a cryptocurrency is. You have to look at other things, in particular what role the currency is playing in the cryptocurrency economy.

I would contend that it's far harder to achieve a 'network effect' as a store of value than it is as a medium of exchange and Bitcoin is starting to reach that point. This is largely due to the priority that the exchanges give to it but other things as well such as the massive hashing power that the bitcoin network now has and the amount of time the coin has been around.

These things are a much less volatile and more valuable 'network effect' than number of users. Dogue would probably beat Bitcion on the "users" count but it won't translate into value. Dogue and its like are "liquidity facilitators" - and therefore help Bitcoin by attracting users and investment into the crypto-economy. But Dogue will not be used as a store of value, even if it takes over the world and Amazon and Wallmart accept it.

What I'm ultimately saying is this: The only reason any other cryptocurrency has value is because of Bitcoin. They are all "proxies" for bitcoin, so it doesn't matter which one you invest in as long as it has a conversion to Bitcoin available. When anybody buys an "alt" the value of their investment is measured in BTC. The alt on it's own does not have a value independently of Bitcoin - that's what a 'reserve currency' is.

I am not trying to attack bitcoin.  I am just pointing out that the largest coin here, has to my mind, no demonstrable network effect and sadly is not trusted by the public. In comparison altcoins are a flea on a mouse's behind.  I am all for competition, but I fear we are just playing for time.