Bitcoin Forum

I used to pick a few coins I thought I could hold on to and mined to local wallet. Only see those coins dropped to worthless. Now I give my 7950s to multipools. It gives me a garden variety of them. the problem is, I was never a fan of them, so I joined the dump army too. I just sold some doge at 126. I never believe doge coin, so I honestly just think it is worthless. the coin end up in the hands that does not believe it, so it got dumped. and literally, every single alt coin is being dumped into oblivion by someone right now, so to those in my local wallets.

now what?

Multi-pool resistant Goldcoin (GLD) is the answer with its new 51% attack defense system. The price is stable at one penny and with a new java client coming out this spring, there's only way to go baby and that's to the moon.  :-*

multiples aren't killing alts, the markets being flooded with too many alts, and exchanges are listing any scam that comes along. devalues all.

Uh. Kimoto. Gravity. Well.

Also.

https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcTXAOsr8cVZlO18O5fCNXL_Y7uwlEpI_Wy9X7FjkONvHp22qIQJ


Gold tho- I put 2 btc in that, I hopeful 4 the profits and such.

What he said. ^^ multipools won't touch GLD with a ten-foot pole thanks to the new code.

Goldcoin theme song >>>>> http://www.youtube.com/watch?v=otCpCn0l4Wo

Look into a coin that the multipools don't touch like goldcoin.  It has a multipool defense built into the client where only 5 or 6 blocks can be found every 10 minutes max.  If a multipool mines it they are wasting their hashpower because all they will get is the set amount and no more.  

Eventually all the coins need users who are not miners. I think multipools are the way to go for miners, and the true problem is that many altcoins are not being used for any practical purpose.

No lie, MChammer had a gold toilet, gold all over his mansion till he went bankrupt... but you probably knew that.
http://3.bp.blogspot.com/-F5SpcpE7cfE/UfE9SK-SYkI/AAAAAAAC4lY/i1khFrsaEvU/s1600/to.jpeg

Can't touch this.

http://www.thesmokingjacket.com/wp-content/uploads/2010/11/cash4gold-e1288633669799.jpg

right. look at the gold in coinwarz and tell me how it is different from any other Kimoto's Gravity Slide.

Kimoto's Gravity Well keeps the mining operation, it does not stop miners from dumping what they just got.

+1. guess I am a miner then. it is the community's job to find a use of that coin. my job is put 4 7950 together and pay my electricity bill.

these mined cryptocurrencies would be great if it wasn't for all the idiot miners fucking shit up for the rest of us!

shit, did the bank turn the toilet into shinny necklace and put it on some celebrity's neck?

When the hammer falls  :D
Why do so many celebs and sports stars go broke? They must know that saving something is a good idea?

Is it possible to DDOS multipools? An all out war would need to be started. I definitely agree they are ruining it.

Or exchanges need to start taking responsibility and banning accounts with high transaction rates, all one direction.

Scam coins deserve to die.

there are scam coins, ipo coin, premine coins, instamine coins.

there are some dev made great effort trying to be fast, to be anonymous, to have domain names.

At this moment, there is no much difference at all. all falling into the tomb, with a different speed.

And the more they fall, the less people will buy, because I can always wait tomorrow, for a better price. And if i miss this coin, there is another coin at dirt cheap price. so everyone pull their bids.

I don't think there is enough appreciation around that all crypto coins are just experiments in a new form of currency.  The more experimentation we do the more we learn about what makes an effective stable coin.  If a coin is going to succeed it needs to be attacked in every conceivable way and show it can't be hurt.  Bring on the pain and lets see which coins remain standing.

No I think its just a select few that are making all of them, copy/paste and change a few numbers. Many of them are not to "test" as you say.

Few have done some decent things yes, but like all developments, it takes money, and when your coin is caught up in the shit storm of the crap coins, you have a hard time getting anything going due to low prices.

That is another reason why I dont understand why when there is something interesting, devs premine, people bitch. They just expect the devs to pony up hundreds of dollars so the rape miners can dump the shit out of the coin to make the profit.

Its gotten really fcked up in the last few months... I think we are in a strong downturn right now... hopefully it will bounce back.

+1 to shit storm. those "dev"s create coins like a fashion business. this month, there are a dozen premine coins, another month, there are quick halving period coins, another month, there are a dozen 1-trillion coins. there are very few actually try some economic or mathemetic model to "experiment" anything at all. they even try to do insta-mine first, then announce to install KGW.

I second you on this.

I don't think the true issue is really miners, but exchanges that listing coins on pay-votes criteria, high volatility, pump 'n dumps, and to much peoples that just looking into the price.

these fucking morons complaining about multipools are crying all for the wrong reason. The reason why multi pools suck, is that it takes the challenge of deciding which coin to mine and also the dedication(support) to mine a particular coin completely out of the picture. Instead by focusing on short term profitability, it attracts more fucking newbs who have no desire to learn more about crypto and here for the quick buck. Having more miners on multi pools doesnt even mean more coins are coming on the market.

nobody is crying, we are still on multipool, selling those shit for btc. but that is not healthy for alter coin in the long run. just look, multi pool is mining btc and litecoin, what a joke. that says something loud, alt coin is dying, all of them!

It is not supposed be like that. btc was just the first one, it supposed to die now, not the other way around.

The recent influx in the number of alts compared to the number of miners out there is making the entire market go down in my opinion. I'm going to paraphrase Bilbo from the Lord of the Rings and say the current situation is kind of "like butter scraped over too much bread". The supply of miners haven't increased at the same rate as new altcoins are being launched.

This is probably the beginning of what people refer to as "the Altpocalypse" - a lot of junkcoins will die off and people will find their way back to the historically steady alts like LTC. The last few weeks in altcoins have held nothing but scam launches and failed launches, and people are getting really tired of it. We've already seen a huge increase in LTC difficulty (or maybe this is because of the elusive scrypt-ASICs?).   

gridseeds probably has some impact but still . im actually cool with whats going on. It couldnt have stayed easy forever. There needs to be more entry barriers for new miners and maybe this could help out.

I'm okay with multipools that just mines the most profitable coin but totally not ok when they pre-calculate the block reward for dogecoin and only mine the good blocks...

folks, what don't you like about the way free markets operate ?

adapt or get a day job

~~LOL~~

if like the OP said multipools destroy all alt coins, please explain how none scrybt coins like quark and maxcoin were destoryed by multipools huh ?

why not both day job and trade? :D no but, in a few days the pre-calculation is gone and they are thinking about making doge have static block reward :)

wouldn't be the first time the doge devs tinkered with the coin

I believe that multipools are taking advantage of people trying to scam. scammers crying help.

i think the real killer are the exchanges. a coin should not go on an exchange so fast. a coin should got to at least 3 month maturity. see if people still believe in it. see if people still mine it. then send it out.

now that everyone is saturated. now that all the ones that came in here since November, now that most of them either hold a big back of some coin or lost the btcs they worked hard for at quick schemes. now the market will show the true colors of these coins.

cross you fingers you bought right! : )

Things got easy, and easy draws a crowd. Miners & new coins
Now, it is time for things to get challenging again.
When it is hard, the less serious (miners and coins) go away. This also includes the weak "pop up" exchanges. They will close or if they are smart, merge...but that is probably a tough sell.

I never expected my Magic Internet Money coins to be worth anything. In fact I thought its launch was telling of more difficult times to come, which is why I mined a few.
If I had an exchange, I would be talking merger to anyone I can.

It doesn't mean the end, it is just how things flow. Bad times follow good times.... and good times follow bad times. It is time for some consolidation.

So, how does the idea of two alt coins merging sound? I am thinking this may have to happen. Some die, some merge, the strong get stronger.

For instance, LKY and Lucky7 Why, well, they have "lucky" in the name. Do they have anything in common? I have no clue.
Franko and Diamond, because they are both rare? or Maybe Franko and Ron Paul (both political)

Anyone think that is possible? Well, maybe not for DOGE and CAT....

about maxcoin, I have some theory.

because there is no autosell in mcxnow, so most of time, ppl have to click and put in an order to sell it.

I noticed most dump took place in the early morning 2-3am, which all broke a new low(-20% down) and completely destroyed its bottoming process. That time is the morning when European and British ppl wake up.

after north American wake up, there are lot of times there is a small pump going on or soon after.

so, it is British that does not like Max, and dump every coin first thing they wake up in the morning.

not American problem.

Very interesting theory.
I have never thought like this.

Is mcxnow had to implement auto sell function?

I never thought like this either. I suppose the americans will have the biggest effect on the market, so it's best to buy after thy have woken up and started pumping.

we are going back to FreeTrade's theory, it needs 1000btc to support cryptsy everyday. doge meme eventually ran out. new one does not fill the gap, just take money from this coin to buy another.