Bitcoin Forum

whats stopping you from investing in Altcoins?

For me, the primary reason I don't invest in most altcoins is that I believe most are scams.

Knowing that it is possible to invest before the pump and sell at the dump, but to do so would take advantage of other people and it encourages the practice of creating scam coins.

However altcoins that

A) Are not scams

B) Have devs I believe are serious

C) Add something I think bitcoin lacks or does something better than bitcoin

Those - those I will consider.

But as far as serious investments go, I'm just a tadpole in a water hole full of gartersnakes. I don't invest a lot, it's hard for me think like a devious person so it is easy for me to get taken.

Lack of complete credibility. There's a new alt coin every day with some scheme that's made to make it look better than some other coin. At the end of the day, no one really wants these alt coins, all they really want is something that is possible to mine and then exchange it for BTC.  Why the alt coins have any value at all is beyond me...

Greed. People think they can get money for nothing.
Some people can, most people end up at the losing end.

It's like gambling. I may go to a casino every now and then knowing I'll lose but some people go weekly or even daily and it is the chance of winning big that blinds them to their constant losses.

Even if you were to try to profit from the shitcoins by buying then selling a pump, you would need to guess the rise and buy soon enough for this to happen. A lot of money is lost this way. Sometimes it isn't as obvious, ie: Mazacoin. It was to have guessed the peak was 9500 sat when it seemed as if everyone already asumed this was the new ceiling. I know because I bought into it myself.

Cuz you never know if it's actual value or just pump.

I dont see how it could be profitable longterm to invest in altcoins, thats why I just ignore altcoins. Im not the person who checks prices everyday or daytrade, so altcoins definitively not for me.

Some anon coins are bit interesting, but I will wait before seeing these coins are really usefull (we have Bitcoin mixers anyway so it seems no big deal for using anon coins)

Fear and uncertainty stops most people for sure.

Indeed.

I find for me very hard to choose in which altcoin I want to invest ...

After so many crashes ... it is hard to choose.

Altcoins market is crazy and unpredictable. One day +30% another -80% .. .:D

What is stopping me is a lack of founds :) ... anyway.

I think in a lot of cases it is the wife that's stopping someone from investing in Altcoins!

were the most people are uncertain is were the most money can be made.

• They have extremely low liquidity
• They are constant victims of pump & dump
• They are created by non-programmers who have never read the Satoshi whitepaper
• They contain basic programming errors in emission rate, proof-of-work, or block verification
• They are instamined by a small cabal of assholes
• They are bad clones of other coins
• They don't actually improve upon any state of the art

Anyone who treats shitcoins as anything other than a playtoy is going to find out the hard way why Bitcoin is in the lead.

http://www.at5.nl/artikelen/131523/patatje-sate-betalen-met-de-guldencoin

Guldencoin is starting to make a name for itself in the Netherlands.

Most of the them are shitcoins, another are scamcoins
i wouldn't buy them again with my money ;D
copy-paste coin, with IPO and premine (and / or instamine)
lack of new feature and anonymous devs (who may run any time)
and most of them just for short terms, quick profit from pump-dump action

because dumping them is more funny

People should look at Credits CRD

https://bitcointalk.org/index.php?topic=634403.0

see upcoming wallet 2.0
http://vimeo.com/100148381

You have to do a lot research before buying into new coins, and still after research you can get burned.

The scams are a reason for me to invest less in new coins, and a bit more in solid coins such as LTC, PPC, NMC, etc. If the price is right of course.

There are so many new coins with big plans, and so many features that they will add. But when you look at when they will add new stuff, you always see "comming soon" "we need 2 months for this"

A serious coin will have these features already at launch.

My complete inability to pick one that doesn't immediately tank within a week or two.

i think most coins are pump and dump scams.
a lot of devs start a coin, advertise the coin then abandon the coin and then repeat.
their are so many different algs and clones of each it is crazy.

i understand a lot of them offer different things but just making a direct clone is so stupid and i think devalues every alt coin.
plus every time i think i will invest in a  alt coin it has crashed and i am to late, and have some some money.

Altcoins in my opinion are mostly pump and dump, not my type of investment..

So many altcoins are out there and most of don't have any  practical use and are merely for pump n dump.

You posted this topic in Alternate cryptocurrencies part of BTT. People here are already invested into alts so nothing is stopping them. You should post it in Bitcoin part of forum.

I tried investing in altcoins to make a bit of profit day trading but it didn't work out too well for me, It's really difficult predicting which ones will go up, for instance I bought bunch of html coins a while back and I see absolutely no buyer for them now, so even though it was not a big investment but it was still a waste of money.

+1
All of em are pump and dump and many aren't gonna survive for more than 365 days

Rampant pump and dumps.

I buy the coins that I think will go somewhere or has done something significant

guys that post so many forum topics asking questions..