Bitcoin Forum

Hiya guys, I don't post alot here on alt's, I am involved and have been since LTC, I am more of an observer than a FUD spreader.

This is going to sound like a rant, But please read through everything, I really would like to hear another perspective!

People who reply with short comments like "your so wrong" without coming up with a respectable comment of opposition are not worth talking to IMO.

I started on LTC so I will start there, I only had a GPU or two on LTC when it came out, I mined a few coins, I cashed out a bit to help me offset the setup and power costs, It was failry easy to RIO back then, As more and more people jumped on this coin, My earnings went down.

Then we had the launch of a few more alt's, I jumped on those early, Mined a ton, Price raised, People jumped on, I sold out, ROI sunk like a stone.

You get the picture, I know we wont see the likes of them days again, But here is my point, All the time while this was going on, I was not mainly involved in BTC, Sure I was still mining, But half of my gear was in Alts. If I was to put in 100% to BTC I would be rich now.

I am not "dissi'n" Alts, I believe they have a place, I do still get involved in two coins, I will not name them here as I will not plug anyone.

People! Head my warning, 90% of new coins are Devs who want to get rich at launch!, It's a new wave of scamming.

Thats quite a powerful accusation yes? IMO no, And alot of people I know think the same, Any coin that needs a large IPO is not worth investing, A alt coin becomes popular and powerful if it is used, nothing else, Please stop sending Dev's money to start, The whole idea of a digital commodity is to spread the wealth, Do you think giving money to one person will make you rich!!

Personally we should just have a few alt's with different capabilities for different situations, There are now tones of crap coins, Every new coin takes a slice out of the pie as it draws more suckers in.

A few more points, Even though I mine LTC, I feel it's life has expired, Only the wave of new ASIC equipment has kept this coin alive, My reason? Look at the YTD LTC-USD It has constantly fallen in price all year! I believe in trends, If you can get in and out quick and make a few $$£ do it, Otherwise leave this one alone, Also, A fool compares any alts to BTC and says it's worth it, Anyone who compares one moving target and can say with certainty that it is justified alongside another moving target is just plain nuts, The ONLY justifiable argument I can see for this, If you accept that it's not worth it now, But believe in exchanging to BTC and holding for that to go up to cover the loss.

I know this is a little tl/dr But just a quick note on hardware, Well, we have come along way! I used 1KWh just to get over 1Mhs  ;D
Heres the big problem, It's still too geekish, If any developers want a good idea, I have two for free, To show we need to Take Mr government's hand out of our pocket, 1) Make a stand alone unit that does not need a host, They are coming out, But we need more work on this, As it is only the big $1000's units, What about the little guy who does not even know about CGminer? 2) we need a RELIABLE cloud source, The two big names at the moment are not transparent, They have no proof of anything, I cant invest in that, The others are all just scams, Even though PBmining for BTC is not transparent, It is still popular as there is not much competition.

Really what are your thoughts? If I feel you are posting crap to build your post count for adds, I will delete you.

most alts are shite obviously



~CfA~

Maybe I got lucky because I am Dutch and went straight for my countries coin, but I see a lot of stories where people put money into dying coins and scams and that is only can be bad for all cryptos in general. I do agree with the OP.

Should you guys ever come to the Netherlands Guldencoin is adding merchants almost daily now.

https://guldencoin.com/pay-here

my thoughts :

you make a lot of obvious points, but then end with a "cloud mining" punchline, do you realize i've explained how China is breaking the Bitcoin mining monopoly, and the only way that the original holders can try to hold that monopoly is to sucker some "greater fools" into "cloud mining", basically use their capital to fund further ASIC expansion to try to keep up wtih China and others.

I've also predicted that LTC will cross BTC cap , because it will be seen as the "better monopoly"

the Crypto currency market is about to change in a fundamental way I believe.

alts with..


any premine even 0.01%

any instamine (ninja launch, or instamine settings)

zero post devs


All = potential scams, which is what most are.


There are a few dev teams that just keep launching coins, pumping and dumping their premines and instamines and starting new coins. This will kill nearly all alts eventually.

This board is the main jumping point for these scammers to get a foot hold. The alt section here has now practically killed any chance of people taking alt coins seriously.

Take away these dev teams premines and instamine pots of coins and you will see a huge reduction in the amount of coins released. That little 1% premine they keep dumping is all they need to keep pumping this crap out daily. Let's reduce it to 0% and see if they're so motivated.



If devs premine AT ALL = all coins should be held by escrow and released to the devs over time for continued suppport and development.

Instamine settings switched off fully.


Some alts have a future but many will not.

There is room for more than just BTC.

Yes, The obvious came firs as I believe it's lost on most people.

I hear you on the cloud mining, I don't think I said it right, I was aiming more towards hosted mining, But if a cloud mining service was really transparent, At what point would it become hosted mining?


Funny I tried to gather hype on my coin which was no pre-mine, no IPO and only a few people who really "got" the idea was interested, If people cant feel like there in at the back door, They don't want to know. I lost intrest in my idea when 17 coins came out in the week I was planning  :-\

Most alts are shit. Some devs have legitimate good intentions about what they want to achieve with their projects, but most of them are there exclusively to scam and move BTC to their pockets. This is a fact and we see it daily, just look around the alt section, its a total wild wild west.

As a sympathizer to crypto I don't understand a damn of what's going on.
Seriously, launching RIGHT NOW, 7 day pow... I cannot even understand what's the coin supposed to be it's already not minable.
I don't know how anyone could fall for that bullshit but it's clear in the meanwhile every other coin gets lets attention.
I can only hope I'm mining the one which will survive and go up.

Nonetheless, all coins, even legit ones are too geared towards the hardcore miner. Miner software is mostly a pile of junk and if you carefully look at it, it's clear they don't give a damn to people who don't want to commit a whole machine to mining.
Say goodbye to all those users which have a computer on already and would mine... while surfing the web or writing a document. Oddly enough, botnets are them.

As for the reality check... I wanted to mine a CryptoNote... but I still cannot find a single one fitting. Sad.

I disagree.  99% would be closer to the truth.  1 out of 100 alts.  Or maybe 5 out of a 1000 alts.  So 99 or 99.5% are devs who want to get rich.

One thing for sure; easy money for the everyday trader is no longer possible in the altcoin biz unless you are a damn lucky gambler.  

Going "long" is really dangerous. Even established coins have lost tremendous value in recent months and may not survive.

 Obviously,  the scum/scam/quickrichschemes have done irrepairable damage.

 Sadly, more and more money will leave altcoins. Who will survive and flourish? I guess you have to acknowlegde those coins who still manage to stay in the top 10.

Safest place for money is btc. Why challenge the risk on altcoins when you can trade btc with those nice 100 dollar spreads?

I like to think of alt coins as the .com bubble. There were companies everywhere preaching innovation and products that didn't exist. Investors threw money at them hoping they could catch a winner. Alt coins are the same idea.


If you look at those .com companies some made it big. Most failed and were forgotten by everyone except the investors. I feel the same outcome will occur with Alt coins.

We have a full fledged alt coin war going on right now. This war has pitted all coins against each other and only a few will survive. For me it can't happen soon enough.

I have found the coins I feel are winners and have spread my investment around. None have a pre-mine or ninja launch. None are PoS, all PoW.

We want unregulated and that's what we got. We have to push the BS coin aside and look for the gems.

The part that kills me the most is that we're trying to go mainstream. Now think of yourself as a new investor. You finally figure out how to set up a wallet and purchase some BTC. What are your chances you're going to make money off of an Alt? How many will get scammed? How many will never return? We could have had these investors as crypto enthusiasts and they could've been a great resource to bring crypto mainstream. Rather than that we have someone who now hates Crypto and makes sure to tell 10 of his friends about his negative experience.


I'm not naive enough to think we can avoid this but all the infighting between coins, FUD and general misinformation we all spend too much time defending is taking our resources away from building our community (as crypto in general) and innovation. Once the alt coin war is over, we should be able to refocus on the survivors. New coins will hopefully only survive if they bring something new/better to the table. The Alt coin crypto market will grow, become harder to manipulate, and we can welcome new blood.

I think the majority of people agree that most altcoins only exist to make money for their "developers." It's really a mess. The word "innovation" is used all over the place, so much that it has lost a lot of meaning. A central issue is that it's really easy to fork Bitcoin (as it should be), so a dedicated scammer can make multiple coins in a short period of time.


Digital commodity? Commodities and currencies are two different things. Sadly, I agree. Even Bitcoin is thought of as a commodity by many, rather than a currency.

Alts are outcome of bitcoin and its success.They couldn't be unseen either while some of the many had many their way till the up and stood out reaching a price level

I have a plan on how we can turn the altcoin wreckage into a literal Goldmine.

- Consolidate development.
- Concentrate our collective energies.
- High vibrational.
- True decentralization.
- Positive focus.
- Low entropy.

It's time to consolidate our forces and concentrate our collective energies into a high vibrational positively-focused competitive powerhouse. If everyone would sell 10% of their current holdings and move those funds into Goldcoin, we could build a mighty force of early adopters and talented developers.

A community with the collective power to roll out infrastructure and bring a true decentralized cryptocurrency to the masses.

You can't know then that Bitcoin was instamined for months by Satoshi. He was 75% of the network hash at times.

i don't have much use for opinions from guys who post in the Altcoin section once a year sorry..

+1

like all the never seen hero member and legendary member who come here lately playin the new pimps LOL

~CfA~

say someone with Trust: -17: -3 / +0(0)
Warning: Trade with extreme caution!


--> Ignore
cabbagehead, he's spamming into every diskussion  ???

 ;D I agree, I don't understand why I don't post more often to get such smart comments back  ::) I will have to post more often, As someone who does not post often in this section, on this forum, obviously has nothing important to bring.  ;)

i didnt say that
im sure u have something important to share
we just noticed lots of legendary members saying they r the messiahs
not u bro

~CfA~

I don't mind him, He is not spamming for add campaigns, He is not rude (so far) I'm  8)

Yes, I know, I was quoting spotnic but I had your response in there, you liked it tho  ;D

 :-* :-* :-*

The concept of "mining" is already considered outdated and an impractical waste of resources by most people here.

It is by far bitcoin's biggest detractor as a viable currency. Instead of creating a financial revolution, bitcoin has created the greatest waste of electricity the planet has ever seen.

Far too much time is spent discussing a technology that requires an unsustainable amount of electricity to survive.

Alt coins is more high risk high reward. Still profitable, just gotta be careful you dont get burned.

Communists like CryptoHunter... have created the Scam Alt Assembly Line.

Because profit incentive is illegal in Communist countries...
Communist economies are completely taken over by corrupt Govt officials and Criminal Clans...
And honest, smart, hard working people can't compete in any way.

CryptoHunter promotes an ideology where an honest, hard-working genius launches an innovative new Alt...
But CryptoHunter will make DAMN SURE the Dev loses money, can't even get a fucking dime for expenses...
Because CryptoHunter wants the entire corrupt Ecosystem to rape the coin and suck it dry...
CryptoHunter will fight for BotNets, sleazy ASIC resellers, corrupt exchanges, Coin Pimp Pumpers, creepy Cult Builders, etc
BUT  GOD  FORBID  THAT  THE  DEV  SHOULD  GET  EVEN  THE SMALLEST  PIECE OF THE PIE.

The system here is anti-capitalist, un-American, based on stealing other people's work...
It's a total perversion of what the open source movement started out being.

Until we run people like CryptoHunter out of town and change the culture starting with DEV GETTING PAID...
The Alt Space will remain a stinking backwater overrun by criminals.

I started investing in BTC when it was at $50. I accumulated 47BTC at a DCA of around $75.. After the huge rise to 1200, I got greedy and wanted to maximize my profit so invested most of my gains into alts. I now have almost completely lost it all. I will be 100% BTC moving forward other than the 4000 ETH that's locked in anyways until an unknown date if ever.

I got burned. it's BTC for me from here on out.

Why did you think that "investing" in alts would maximize your profit?

BTC was going up.. towards the end of the rally alts starting out performing BTC on percentage basis. So I got greedy.

During the correction BTC only lost half its value. But alts returned to their base and many even much much lower.

There is always the flavor of the month with alts.. They rally then collapse, then the new hype comes along and repeat. There is nothing to stop market entry for alts, but BTC will always have first mover advantage. That history can't ever be changed.

Ah yeah I remember those days, around Nov-Dec last year and into Jan-Feb as well when alts were going crazy and every day a new alt would be up 100% and several up 1000% in a matter of days. It's funny in the world of crypto, BTC is the base/safest of them all, while the world views BTC as extremely volatile.

Totally agree , the community should work on a way to get rid of all those scamers .




Stealing other people's work ... sadly that could be too a good definition on what today is called capitalism .



Devs should being paid , but ... ¿it's necesary premine for that? , I think no , there are other ways , for example creating royalties that will grant the Devs a percentage of the money that people invested on his coin at the exchanges during certain time . That will stop most of that scam coins and probably will be more profitable for the devs on the long run if his coin is accepted and has succes , so if They want real money They will have to really work and develop his coin stoping the "hit and run" tactics . Also I think it will be a positive incentive for investors that want to fund a crypto .

And exchanges have little to say here about paid the devs a percentage if the community decide that is a good idea to stop scamers and to grant the devs some money for his work , if a exchange refuses to do that the altcommunity should start a boicot and stop using that exchange until they accept , but I can't see any reason why They should refuse give a royaltie to the devs , at the end who is going to pay is the user of the exchange that is going to be charged with a little more fees ... so the question here is if the community will agree to pay a little bit more fees in order to bring more security against scams and pay the devs for his work .

Probably most of you will think that this is a crazy idea that makes no sense and that situation will be corrected by itself over the time and that the scamers will dissapear ... I really doubt since everiday more and more people is discovering the cryptoworld thinking that every new coin is going to be a succes like bitcoin just because They saw some nice promo for that coin , there will be always n00bs to scam , it's a top rule on economics . Probably this is no the best idea , but I think that the community should start thinking in solutions instead being shouting scam ! on every new coin and cheap talking about how bad are the scamers .

Best thing to do is mine a coin and once it hits and exchange sell 75% of the bag because most Alt coins will decrease in value in a short time.

You can tell this alt industry has turned into just a profit making machine for coin launcher and exchanger.
When you see like 10 different names or gimmicks for "investing" in the coin before its launched, and all these crazy mining/pre-mine rules.
Dev uses best tactic to insure secured investment or secured coins before coin lists in exchanger, Dev is guaranteed some profit. Poor investors and or miners try and trade/cashout what they can once hits exchanger, and exchanger makes its fees. (Throw in the mining pools ect) This Alt market have become a refined money making machine for a few select, and sadly its not the average miner or coin investor. Nothing different here than in the "regulated" world. Select make money, most loose money.

out of the monopolies i'm technically more bullish on Litecoin now .

https://bitcointalk.org/index.php?topic=760879.0

basic explanation is Bitcoin monopoly is broken LTC monpoly probably cant be broken.

so BTC becomes the play thing of the new mining monopoly, (if they don't own the cap )

and support the one they do.

thats the cold hard reality.

most new alt coins are dead in 3 months time

Just thought I would give my 2 cents worth here...

I created Tagcoin a year ago (hybrid PoW, PoS), no premine, no ideas to get rich from it - it was purely a marketing exercise to see what would happen, and to use within our rewards system. Things didn't go quite to plan - merchants prefer the points system to the unpredictable crypto, and we had to drop support for cryptocurrency in our digital wallet system at Tagcash (at least for now), due to Central Bank advice while we go through bank licensing process in Philippines. Since I have already invested over $3.5m (mostly for capital requirements to become an approved EMI in Philippines), it was prudent to follow their advice. Our market is not crypto currency but the $20 billion remittance market, the digital wallet market and outside of the Philippines a loyalty reward and affiliate platform.

As far as tagcoin is concerned, we need a way to pay out our referral and affiliate points (merchants buy Tagcash points, and we give 50% those points to users who share the adverts on facebook, twitter, and other sites, a bit like google adsense). Since we don't have MSB licensing in USA, or EMI license in Europe (yet), then we will be paying out in Tagcoin that users can immediately sell back to us for BTC if they want (at slightly lower price than Cryptsy etc), sit on them and make 5% interest per year, or sell to a merchant who can buy more tagcash points and the cycle repeats.

I know we could use Bitcoin, but we wanted to have our own branded but decentralized coin. The real world use for us is there - we don't have bank accounts all over the world to pay users, we don't want to (or in some cases cannot) use Paypal, we cannot pay into digital wallets (internally) with real money or crypto in USA (no MSB), we cannot even provide digital wallets in India due to RBI restrictions, but worldwide we can use the loyalty points system and pay out to external wallets, legally and with no hassle using Cyrpto. The more we grow and pay out the more Tagcoin we have to buy, and I guess the price will rise - I am not saying that we will be as big as Google in advertising, lol, but certainly over time I expect the company to support a multi million dollar crypto market cap, with a real need, not just fake pump and dump schemes.

As for investing in other coins, I would be most interested in investing in one IF there was a company behind it with a real reason for it to exist. As far as I know, 99% of altcoins go high on launch, while people speculate, and then drop like a stone. Tagcoin was no different either, but I always thought it went too high (thanks to the Chinese influence 9 months ago). Now it has a better base to work with, with a small market cap that we can use to handle our external payment system and the capability to grow with us over time.

@ tagbond, Thanks so much for sharing your story, There is something I just dont understand, Why are you trying to "legalize" a digital commodity?

I am from "back in the day" where the idea was sold to me before the idea of being rich, The whole idea of Digital is supposed to by-pass the authorities and build a person to person based community, Where we decide where our money goes.

Please see this as educating question, I am not attacking what your doing, I need to say that as reading text composure cannot be detected.

I am building a company that depends on working with banks, and licensing authorities. I am not trying to legalize anything, I am just abiding by the rules. If I don't then I go to jail. It's that simple. So the strategy will be to work with what is legal and then introduce crypto currency if we need to.

Banks have their regulations and you can't bank with them if you don't follow them. The central bank in each country guides them, and they like to control the money supply and keep it stable, so they are very cautious with regards to Crypto. However, we are already going to bypass banks, in paying out amounts via Tagcoin. But we still need them for the money to flow in from advertisers, most of who don't use Bitcoin.  We will be accepting Bitcoin and Tagcoin as a payment system for the loyalty points subscription system, or for buying Tagcash advertising points, but we cannot drop the use of banks at the moment.

Untill everyone lives in a digital currency world, digital and non digital need to work together. And anyone who wants to do anything serious in USA, India, China etc, needs to know the regulations and laws in each country. No point in trying to fight it - the majority of people don't care what they use to pay for something, points, crypto, cash or credit card. Just have to make it as easy as possible to get money in and out, while still keeping the authorities happy on aspects of KYC and AML. Otherwise, as I said, for the operators like myself, we go to jail. That's the real world.

Ok, thanks for the explanation, I understand the difficulties in trying to build crypto in a FIAT system, I did miss understand a little, It sounded like you were trying to get the banks to accept your coin, My bad, What your doing is great and really the only way to do it, Virtual commodities are still widely not known, Let alone even used, As you say we have to use the banks in order to spread the word, Use them as a platform.

I am mostly fiat free  ;D I have been working for three years to break away, But When it comes down to it, I still have the ball and chain government with me, I still have to have a bank for some bills, But I pay rent directly in BTC, I pay someone in BTC for my fuel/shopping/dentist/prescriptions and the like, But most people even here still say "what is a bitcoin?"

We have a long way to go, Keep fighting!

I'm sorry that you're unable to read and comprehend the simple post that i made.

Devs will be rewarded for work they actually do. Not pressing copy and paste then dumping their 1% premine after making empty promises.

Try using some form of logic to justify your empty rants. Anti-capitalist? un-American? haha please ...

Explain to me in detail how the premine being held by escrows and released for continued support and not empty promises results in genius committed devs getting paid zero for their innovation and hardwork?

As far as i am concerned the developer can have 10% of the minting released to them over a reasonable time period for work they put in. There simply needs to be measures put in place to stop the constant zero post dev teams cashing out their premines/instamines for doing ZERO.

Sounds to me you're part of the scam zero post dev teams that dream up great ideas for coins then actually provide ZERO results other than dumping the premine/instamine and popping up under another ZERO post account to do the same all over again.

Please come back and provide some coherent discussion so that i may try to understand wtf you are talking about.

"Communists like CryptoHunter... have created the Scam Alt Assembly Line." - please explain fully your statement, i am actually interested in how i have achieved such a thing. Seems more to me that devs holding their own premines/instamines and zero day listings on exchanges have created this. Your claim is actually almost madness. If a true communist approach was employed at all there would be zero incentive for new scam alt coins to be released each day but then there would hardly be reason for any new innovation to be released hence why yes the developers should be rewarded well for what they actually produce. The net gain from most of these scam alts released daily goes to the dev teams, the exchanges and a few lucky dumpers.

Really your post is quite amusing to me. Please feel free to thrash out the details here so that i may enjoy your powers of reasoning a little longer.

The solution to the endless stream of scamming alt coins being released daily is simple. Take away any motivation to release these scam coins. Any serious devs that have real plans for their coins will get larger rewards than the usual 1% they are allowed to premine perhaps 10x more. However, only if they are serious devs and actually do provide something along the lines of the promises they make at the start. As the coin rises in value then yes the devs should be given funds to put into place the resources they require for further development. Sadly trusting zero post devs with this so far has resulted in most coins being pump and dump scams.

The latest scam i notice by the dev teams that  do make an effort to stick around is this...... create some fud, then vanish for a few weeks, wait for everyone to assume the project is dead and was another scam, buy up all the coins cheap then appear with a fix to the fud and some excuse why they vanished. Price sky rockets and they cash out again. Even with escrows holding premines and instamines, this new cycle of "fud and fix"  needs to be looked at. I don't say regulation is the way but certainly a noob guide to warn against widely used scam tactics.

What was your idea, any links? I'd be interested to read it :)

Been searching for ages LOL This is an old thread mind! https://bitcointalk.org/index.php?topic=555633.0

i wanted to create a coin made for US, all of us, Not just one person, However I could not get everything in one place, I needed one pool, One exchange, and some people to PR, It never happened.

I have lots of great ideas, Unfortunately not the tech knowhow  :-\

I happen to know of a project which is entirely focused on ideas / discussion and adoption, with the technical knowhow in the community and dev team to make virtually anything required or requested. If you'd like to join in discussion and float ideas about with like minded people, then please come in.

The best alts are the ones with free giveaways. Last week there was reserveshare and today I just learned of premineplus. Nothing beats getting to try a brand new altcoin for free! Also, these fair distributions are a huge positive for the coin's future.

True, But under the surface, Their has to be either a pre-mine or an IPO for them to have coins to give away in the first place. Hence "premineplus"

I like the idea tho, I am seriously re-considering starting one, Then after some time of me mining openly after launch, Give some away as a promo.

Why do you constantly troll every OP on this site? If anyone deserved to be banned it is you.

problem 1: rampant speculation
problem 2: people are dumb as shit

... so from my perspective everything is developing perfectly normal.

Just don't do it.. :-\

A-GREED !

http://i58.tinypic.com/waozs9.jpg

You need to fuck off and quit following me around starting shit with me on every topic you can.

you were spouting off stupid bullshit trolling on my fav coin's ann topic (JPC) like a an idiot
then i have seen your following me around mouthing me off where ever i go.. over & over..
and your not the first to do that so get in line with the rest of my Troll "fans"  ::)

your a fucking retard.
all people have to do is go read your comments and they will see clearly YOU are the fucking Troll not me asshole !

i highly suggest you learn to keep your mouth shut punk.. few people fuck with me and get way it.. ask around ;)
so sit down and shut the fuck up Troll no one wants to here your whining..

and maybe make some kind of effort to talk about the topic at hand
instead of crying to Bitcointalk users about how much you don't like Spoetnik.. no one cares brat.

keep it up idiot and i will teach you lesson rotten little shit  8)

Yes, the altcoin zoo is a wild, confusing, and lawless frontier zone.

To provide some guidance for noobs, in honor of our annual Eternal September festivities beginning tomorrow, I've updated my signature.   :)

Nice signature.

LTC: selling misinformation (at best) or flat out lies since when there was chance for an altcoin to exist.
Monero, boolberry, cryptonite: all based on same tech, all apparently having something not quite right.

Not encouraging VTC or MYR... sorry Sir, I totally disagree with you!

Doesn't want competition for "her" scam/crapcoins. This person is one of the most notoriously evil of all scamdevs on the forum.

Funny how "she" would only pipe up when a non-scammer wants to create a coin.

<---- She gave me this trust rating because I was warning people about her relationship with Iconic Expert.

LOL, lots of people are getting the false impression that Cryptonite is a Cryptonote-based coin, but it's not. 

XCN is based on mini-blockchains, which are completely incompatible with CN's ring signatures.

I'm trying to get BitFreak to change the name to something less tremendously confusing to non-specialists, and more distinct and descriptive (such as 'MiniCoin') but it's like pulling teeth.

You'd think no coin had ever successfully changed it's name/ticker before, despite the example of BitMonero/Monero/MRO/XMR.

You'd think no coin had ever successfully recycled an abandoned name before, despite the example of ByteCoin.

You'd think a simple re-branding of an obscure month-old coin, with scant volume on a mere handful of exchanges, is equivalent to a hard fork and re-launch, but it isn't.

(XPOSTed to XCN thread)

The problem with scrypt ALTs is that the majority of miners just mine them as a vehicle to get BTC with old tech. This has created constant selling pressure on them. When scrypt ASICS become prolific at the end of the year, you will see this turn around because it will force the GPU crowd onto other coins and old tech will no longer be a factor in scrypt coins.

Next  year, scrypt coins get legitimized and the increased hashing power will increase the overall security of the coins enabling investors to start to place bets on the next bitcoin.

These are my sentiments as well.

I think we might first see some consolidation and then a resurgence in 2015 with the consumer playing a greater role in determining the winners and the losers.

TYVM.  Feel free to steal it and help drive out the shitcoin infestation if you like.

The ideas in this thread are right-on and relate to another thread, with a similar discussion bitcointalk.org - Re: How we crypto-geeks get it wrong & the reality of altcoin success (https://bitcointalk.org/index.php?topic=687900.0)

to be honest you only have to listen to mike hearn talking about the "fragility" of bitcoin to think hmm there must be competition on the horizon. I don't mean to say bitcoin's thin ice, but just because the whole thing feels too static. To use an old comparison it's like late 90s ISPs and email providers wanting you to pay for a 5mb inbox - what's gonna happen next will be foreign to the status quo, but so it must be. alts will most likely be involved, but whether it'll be any of those on the top today, who knows.

We've heard this argument for several years now, but nothing looks promising enough to replace Bitcoin for what Bitcoin does. There are alts that compete in a different niche, but head-to-head with Bitcoin, there doesn't appear to be something with clear advantages over Bitcoin (yet).

Exactly why I'm bullish on Bitcoin.  All this time and still nothing has come out to really impact Bitcoin and really compete.  This is something that isn't very easy to do or it would have been done already IMO.  Up to this point the only coins to come out have been scams and clones, minus a very few from what I've seen.  

Agreed on bitcoin's selling points, I was mostly going off the back of what mike hearn said recently, ie that bitcoin's lacking in developers and financial support, which makes me wonder what's gonna happen should a sudden influx of users occur like everyone expects? though equally no alt is anywhere near ready to support a massive surge in clientbase either so..

What does sudden influx of users have to do with lacking developers/financial support for the core devs?

To me, bitcoin is just another alt...

Yes, there I said it.

There has been other electronic currencies before,  other than its' cryptographic nature it isn't all that much better or great.
( long confirmation times,  huge blockchain to download,  tons of energy being wasted to mine it. etc etc.. )

proof of stake coins will always beat out proof of work coins in the long term.....

Well being a Titan (NO ROI) 1st batch user..they announced they are shipping next week 300mh for first batch chumps
(talk about a company knc going from pope mobile to death star with in a year..man money corrupts)

anyway they did announce that it will do scrypt-N and vague other algorithms..i really don't buy it ...but going with the idea for now (humor me)

I myself think this at best is a firmware upgrade in say 2-3 months and prob only would use 100mh at best on the Titan

BUT

I know not as much as I should about alts (yeah I know don't giggle...KNC is already giggling at my $$$ going to their large data halls for their 'arctic cloud'

so would scrypt N help me much in my hopeless quest to SOME movement towards my purchase price (a % there of) faster or is it
just a gimmick ( I was told scypt-n needs more then a bit of ram..something knc neglected to mention in their annnoucement (see below)

https://www.kncminer.com/news/news-106

thanks....anyway looks like my last miner at 15c/kwh (ave in the states) btc price and imho every fool and his brother cloud mining
home mining looks pretty dead in my view..at least at my elec rate (which is ave for usa by the by)

so it goes...bitcoin always a wonderland of confusion...and man in the last year I"ve really seen BFL ethics take over the asic maker world!

thanks in advance for any info

Searing