Bitcoin Forum

There is a new coin I have seen that is called UniteCoin. Anyone heard of it?

Probably not worth your time to look into that

No, I don't know.

Why do you say that?

Well, no one has heard of it. Sure, anything might become valuable someday, but people generally aren't lining up to buy baseball cards of rookie players who ride the pine with no contract. Cash is the medium of exchange for things of value, the only relative measure we have, considering no one knows what it is there is likely no market for it, why spend time mining something that "might be" when you can mine something that "probably will be" or even "already is"? It's your hardware, and nobody will stop you, but unless something is closing a gap in the market (like Litecoin, and I'm still thinking "maybe" on that one) it's very hard to endorse it. It's getting to the point where these new alt-coins are popping up every week, greater saturation of emerging coins makes each one less significant/promising. If I start a new coin next week called "MyCoin" you mine it? Probably no, right? Okay, is there a good reason to mine UniteCoin? Not picking on you, just trying to point out the reasoning why you might not want to spin your wheels or tie up hardware on the coin of the week. Hey, maybe it's the next big thing, egg on my face if it goes to the moon, but there's plenty of other new coins just like it that work the odds in favor for betting against it.

Some might not agree with me on this, but personally outside of BTC and LTC I don't see much reason to mine anything else. There's probably at least 100 penny stocks that will produce a 70% gain tomorrow before noon time, and the odds of picking the right one without specialized information prior are very slim. I try to steer away from things until I have more answers than questions, after you do all the research and find good reasons only then is it a good idea to saddle up with it.

There isn't really any point in picking up some random new alt coin considering the fact their going to be worth next to nothing and it's really not worth your time to try and even mine for them, despite it seeming worth it. If you want a currency that has value stick to fiat/BTC/LTC to make transactions in, if your looking to mine stick to BTC/LTC and yeah. No real point in trying to use an alt coin that can't be used as a form of payment and has no perceived value.

do you mean United Scrypt Coin

https://bitcointalk.org/index.php?topic=353688.0

No its another one