Bitcoin Forum

I'm curious what everyones' thoughts are on alt currencies. It seems like only those with expensive setups or start mining before anyone else really see a profit. With all the alt currencies out there, they surely all cannot be viable. Is there room on the internet for more than one type of currency? It seems like currencies are only being released so that the creator can pump it, dump it, and rake in the profit.

I for one am definitely mining different types of currencies in the hopes of making a profit. Seems like one could be a lotto ticket.

Cheers.

Some will survive, most won't. Best to stick to the one's that are more established.

They surely aren't a ponzi scheme.

There's always going to be risk when investing in volatile currencies/commodities. Don't invest what you cannot afford to lose and you should be okay.

I think American Express is the only credit card company. All these 'alt' card companies seem so odd. I mean, what's the point right? Okay, so each has different products that are of interest to different types of users, countries, currencies and industries, but could that be it? Oh, well maybe because competition drives fresh thinking and innovative new ideas. Feathercoins checkpointing, Worldcoins quick confirmation time, DOGEcoins garbage feature set but great at bringing awareness to crypto, etc. Huh. Nah. Stick with Bitcoin.

Some alts are genuine and will prove to have a purpose however most of them are simply a waste of time.