Bitcoin Forum

Please. This is getting ridiculous and it seems like there is no stop to it. There are so many coins for every single purpose out there..there is no need to create any more coin. If we keep creating altcoins it will never grow because new coins will replacing old ones and we'll be stuck in loop forever.

D you really think these greedy devs will listen to you or reason? The only way these coins will stop is when people stop partaking in the scams. Don't mine them, don't trade them, don't partake in giveaways or airdrops, just ignore them.

Pretty much cuts straight in to the heart of the problem. Whilst there is still money to be made in alt-coins then devs will continue to create & 'develop' coins to push on to the market. Now it would probably be unfair to just call everything a scam, as you can see some lights of innovation happening in areas of this darkly lit arena. However, one can't help but think its such a shame that an area with so much potential has actually been turned into nothing more than penny stocks. This is pretty bad news for alt-coins as it adversely effects their creditability; credibility that is going to be much needed when going against the big guys - the visas and the mastercards of this world.

Unless I am very much mistaken that's what the whole deal with crypto-currencies is supposed to be right? A modern day monetary system, payment platform and financial institution(i.e. Bank) rolled into one? But yet, practically all of the 'coins' that come out in to this market I wouldn't trust with my toilet brush - never mind a payment system. Regardless of whether you agree with that previous statement or not, I think you would be hard pressed to disagree that most people from the population would view crypto-currencies (in their current state) in a similar fashion. This will inexplicably hurt alt-coins potential for at least the short term, and if we're not careful than this whole market could be deemed as nothing more than penny stocks for a long time to come.

The real purpose to create the altcoins is for a pump & dump , at the end no one want to use them (it is only for gain more and more... bitcoin ).

I would be inclined to agree, but this is the internet and people.

 ;)

Unfortunately this won't stop. In the end most alt coins are dead and only the most innovative coins will survive. Most people won't even look at alt coins in the future anymore.

you buy it: they create more

buy only established  coins now. Raise the fucking bar!

There will be new coins created as long as a greedy dev can make ten bucks out of it.

2015 will be all about sidechains. It's an altcoin pump and dump killer. I suggest a boycott of all alts until then.

PS. there is already a coin called 2015 ::)

Excuse my ignorance, but sidechains?

The protocol has changed (or is changing?) to allow for two-way pegged scBTC. Basically the ability to move bitcoins across different blockchains and back again.

Thank you

Is there a possibility we will be flooded by pump and dump sidechains soon?

 :) http://www.coindesk.com/sidechains-white-paper-ecosystem-reboot/

There is a link to the whitepaper in there if I remember

Just dont take any part in these new alts and one day majority of them will die, its already happening.

From what I understand the two-way peg means there will be none of that. They will have a fixed bit value.

sidechains is bullshit and could easily turn bitcoin into a shitcoin.
I suggest the contrary: diversify in alts until then and wait it out about 6 to 10 months in case the experiment with bitcoin goes wrong. There is high probability sidechains create some serious trouble for bitcoin.


Sidechains will turn out to be: either no big deal or a negative impact on btc.
In any case: It won't be more disruptive than NXT already was and in no way end alts - quite the opposite.

What kind of trouble?

new possibilites for exploits, new possiblities to spam the blockchain, further blockchain bloat - thus making one of bitcoins most serious problems even worse.
It's a stupid idea to implement that into bitcoin especially without  testing  it in an altcoin before. Complete BS from my perspective.

If it ever were a success (i doubt it) - it would be implemented in a lot of altcoins too, thus no big deal at all.

Dogecoin will probably be the first alt to implement that too... it's just exposing bitcoin to more risk, that's all.

Normally innovation should be tested in an alt before implementing into bitcoin. In case  of sidechain the morons obviously want to test it in bitcoin before altcoins will copy. So i have no idea what's actually happening and who is making the decisions.

If there's no consensus on it won't happen anyways because the hardfork of btc which would be required could easily backfire and end bitcoin right there. I don't know though if the network is centralised enough and they can just do a few deals in the backroom to change bitcoin however they want already. So maybe mining in btc is already centralised enough they can change it however they like. The sidechain-thing could easily reveal that.

I see sidechains as a threat to bitcoin and not a threat to alts tbh.

Very interesting points - you do get the sense, more generally, that the market is increasingly treating bitcoin as nothing special, almost like just another pump-and-dump altcoin.

Altcoins are a mess, but there is more security in diversification and many seem to offer much faster innovation that bitcoin.

Haven't they slowed down yet?

I stopped talking interest in alt coins way back, I don't visit the [ANN] section now. But I thought the frequency of new coins releases had slowed down considerably. How is it now? a couple of coins every week?

Around about..... I am struggling to see where the money is coming from. The pot most have considerably dried up by now....

there are nearly as many coins released. Scam-rate is close to 100%

I predict in 2 months not a single dollar can be made on new coin release.

Right now only option is: go to the coins that survived until now and have community. Everything else will die.
New coins don't stand a chance now. Only coins with a strong community can make it now.

I would vote something similar. But I have been saying this for a year now and somehow it keeps going. Though the money does seem to be drying up fast.

There are always new people joining crypto world and who think they 'missed' the bot on all popular coins, so they just get on the next train that promises them good return. And since they're newbies, they fall short of identifying scams from legitimate releases. They just think a 'new universal coin with awesome technology' will triple their investment.

Although Bitcoin has now fallen below $300 it's still too much for most newbies. They want to buy a new coin dirt cheap and watch it go to the moon like Bitcoin did. They end out stuck with a bag of shit coins.

Haha well competition breeds innovation. Scamcoins suck, but occasionally there comes a coin with ideas that spread through all the alt-coins

Yes, the release of new alts has slowed, we have some stats 'n' graphs on Minkiz:

https://minkiz.co/

... don't think they'll actually come to a stop any time soon ;)

The announcements section has really slowed down over the last few months. It's not often you see a new coin announcement there. Half a year ago there were endless new coin announcements each day.

Isn't it now that with SuperNET certian ALT coins will take partnership with each other making less competition, and will hopefully remove those copy and paste coins?

down with altcoins

the sun will rise over App Coins!!!!
if you arent using the blockchain to promote a new tech, than your garbage..