Bitcoin Forum

Please stop this no sense of coins, if we focus in 5-10 alt coins perhaps they take some value, with this number of bad coins miners dont mine together and coins are forgotten soon. This could erode public confidence in all new coins. Please dont support more coins, we could choose some of them, then we can do some money, if not we are lose money, time and opportunities.

Thanks for reading.

or more GPUs

some stay, some die

to be honest if we will have thousands coins i think the whole alt coin business will slowly die

Survival of the fittest?
It's a free market and those coins with purpose will remain, where those that don't serve any purpose will get pumped and dumped followed by a candle that will burn out slowly.

You're telling people to stop doing what you've no doubt supported in the past.  Just think about that for a moment.

If you don't want a new coin to get anywhere then don't support it. Don't download the wallet, don't mine it, etc. No one likes pure clones but there's nothing wrong with making new interesting coins that offer something of value, of which SOME of these new coins do.

But yeah, keep dreaming.

Welcome to the free market.

we cant support 1 or 2 more coins each day. this quit credibility to all coin system. If a 10 year old can launch a coin this is going to die soon. If we focus in 5 or 10 coins they suceed. its easy to min 1 million of crap coin, give it to an exchanger, take 0.5 or 1 btc and run, but in the future exchangers will not take more coins, and perhaps we lose some good ones, not this bunch of crap.

Sorry for my english, im spanish but i hope you take the whole idea.

Together we can success!!!

Let them be thousands shitty Alts, let the newbies and losers mine this SHIT, therefore less hash rate and low difficulty for REAL coins.

Just my 0,02$

You're just trying to sabotage my Small Appliances Coin which's aimed at the unique needs of people looking to purchase small appliances online with virtual currencies (we estimate the market at approximately $15,000,000,000, so getting VC funding was no problem). Finally, a coin you can use to purchase small appliances. My team and I predict that within ten years, you could be able to use SACs to purchase microwaves AND blenders with ZERO FRICTION. For now, though, we're really focused on getting it on an exchange so we can make the dream come true.

It's 100% safe from pump and dumps because I've just announced so, and we have a long-term vision which includes a launch of Large Appliance Coin.

Oh - and also.... SACs are RARE! Only 50,000 will ever be made, so you know it'll be a solid investment.

I agree that is very annoying to see multiple clones launch everyday while not even attempting to be unique outside of a new name, sometimes a logo and a few parameters tweaked. I do think this will result in a harsh correction from exchanges, ultimately reducing the number of coins traded and possibly making it difficult for the next innovation coin to get listed. However, the market will drive all of that, so beyond some annoyance and watching the pumping and dumping, things should work themselves out. Many of these new alts will drop to essentially no value and surely get pulled from exchanges before too long.

Many of the newer clone coins are already getting less attention on their launch days. It'd be nice as a community if we could work on getting more people involved and have a good experience with cryptocoins rather than setting them up to get screwed by these pump and dump coins that are catching many people's attention right now.

These are people who don't care about ad's says " Dont smoke, it's bad for your health ".

They just dont care about the right thing, they do the profitable thing.

Sounds awesome! Can you detail your plans for the yet-to-be-announced 49,999 coin pre-mine please? Actually scratch that. I know it's for the best if such things aren't subject to transparent accounting  ;)

On a serious note, one of the best things that could happen is for the auto-switch auto-exchange pools to die. Whether that's through a natural exodus of the drones who use them as their profit-killing methodology becomes a self-fulfilling prophecy, or because coin devs alter algorythms to make their operations pointless, it doesn't really matter. If you tried to design a mechanism for killing promising Alts, you couldn't do a better job than these pools already do.

Additionally you now have one auto-switching pool that could execute a 51% attack against virtually any Scrypt-based Alt other than LTC or DOGE. One guy, as trustworthy as he seems to be, can execute a 51% attack with absolute impunity against most of the Alts out there. Think about that.

My guess is that it is completely unacceptable to even think of creating boundaries for crypto currencies. Then there will be no difference between crypto currencies, and banks/governments. Some will owe a large part of what is already existing and no newcomer basically will have the chance to get some of it.
Myself I have some bitcoins. Days back it was really easy to get them, nowadays people have to invest fortunes to put their hands on it. It wouldn't be equitable, neither would serve the idea of freedom which crypto currencies are stating, that someone would just stop new currencies, and the few us who have heard about them in time have basically a lot of wealth for nothing (because let's be honest, our investment was absolutely nothing compared to those who have to invest today in it).

I hope the day this happens, all crypto currencies, including BTC will drop to zero (even if I owe some too). Because I really believe in the message crypto currencies are trying to send out to the world, and when they will be "regulated", "limited", "owned by a few", etc. the entire concept will die.

Free market will regulate the appearance of new crypto currencies anyway, you don't need to worry about it. They are currencies, which will never get to exchanges, and even if they will, they will die out almost instantly. People who are investing large amount of hashpower to get the kick-start hoping it will be THE next bitcoin will have their second thought after a few trials and errors. Same will be true for people who are investing money in them on the exchanges USD or exchanging their trusted coins. Speculation is fine, because in a free market it's the fastest way to separate real value from fakes, and the quickest way to point people's attention to where they should really invest.

Vive' altcoins!  :)

i wonder how many different creditcards there have been sofar?
and yet still the best of them are used about everywhere and maybe 50? different big names worldwide

this is true

Survival of the fittest. This is the Cambrian explosion of altcoins.

There will be a lot of coin graves by next year.

I like to see all these new alts that keep coming out. It keeps people off the good coins.

+π

i'm making the SmallAppliancecoin with 49,000.  Rarer, so even more solid than SAC.

the problem is that people that speculate on altcoins get turnedoff the whole market.  look at coinwarz right now, btc is up to $900, but the best you can make on an alt coin is $10/Mh/day.  this is because people who play the altcoin market have been burned by too many alt coin launches, only to see their investment turn to dust.

+1

I personally went back to LTC mining when I saw the new NicolasCage Coin showed up today, what a fuck. This has really no sence and too stupid. I give up mining crapcoin. NEVER AGAIN.

+1
Mining waste
 every day 5 coins
There is no cion market intervention is little
December, more than 100 coin entered the market, including 3 or 4 only

You crack me up.

Also:


The more ALTs the better.  I would like to see 10-20 new alts per day.  That way they will ALL die quickly and quietly.

New alts are teaching new people about crypto, mining, running pools, etc. That is good.

Competition also breeds innvoation, which is double good. Alts which hope to get real traction in 2014 will have to come with something new - or they wont stand out from the rapidly expanding crowd of junk.

An inovative alt?  You crack me up also.

ahahaahahahahaha

Exactly, your reactions sum up the situation perfectly. That's why the next wave of cryptocurrencies to get any significant traction will have to be innovative, not just clones with a few parameters changed.

BTW:  Which "inovative" alt are you pushing (if any)?

my reaction is becuase of the absurdity of the coins, and how you think it's going to get better somehow.  

you can't 'innovate' out of the Tragedy of the Commons. 

If people are going to be pushing innovative alts I'm pushing this one, https://bitcointalk.org/index.php?topic=399728.0.

In your definition section you left out:

Numnuts: people who support Nummum

;)

Bitcoin. ;D

To be honest I'm not really "pushing" anything - I'm more of an observer than an active participant at this point.

There have been small innovations in the past year or two if you think about it. First coins to use different hashing algos (scrypt, then scrypt jane, and so on).. first coins to integrate proof of stake.. etc. Baby steps towards some genuine innovation.

My 2 Cents:

as soon as an altcoin enters coinmarketcap, the people dont care about specs and innovation.

If true then at that point they become obvious pump and dumps.

aren't they all? but the ones which succeed getting on cmk will stay there.

Heh, heh. Good one. I will update it immediately.

It dilutes (or redirects into the pockets of coin devs and speculators) the fiat flowing into "real" coins, thus making them less profitable to mine as well. This is a tragedy of the commons situation as others have noted.

Yes, all the coins are getting ridiculous, but it is something that just has to run it's course. It's just part of the growing process. I expect it to get worse, before it gets better. Won't surprise me if we have people naming them after themselves byt the end of the month. But soon their will be no hype or excitement that develops around them. Even now, the time that people are hyped about a new clone coin only lasts about 6-8 hours after it's launch, compared to weeks/months of interest  that would be generated just a short time ago.

No low difficulty will come (soon/late) because they will be back sooner than you think ::)
It's all about the rapidly raising difficulty on BTC & LTC  i think folks with high end miners are surviving but all other down who are trying to climb the ladder some how; will continue to mine the new alt's to get any kind of profit out of their current hashing power.
It's a Free Market.

This is like the colonization of America by europeans. 1st the explorers (bitcoin, litecoin), then the colonists (altcoins) then all the opportunistic shits who couldn't get by in their country (all the latest shit coins).

Imo if the altcoin is bad, no dev support or rushed release just to get faster money out of it we shouldn't support it. There must be set a standard. Even if we'd lose a few bucks now it would be better for the market in the long run.

wait are you saying that's just all marketing bs? 

say it ain't so. 

It is all marketing bs. What do you things all these giveaways are for? Except for a few, altcoins are 100% marketing and hold no value other than to make some money out of new people into crypto.

ANNOUNCEMENT:    PleaseStopCoin

dev:  release source and provide wallets; will start solo mining. 

everyone else:  this is the real thing; the specs are good for PleaseStopCoin.  get in before we go to the MOON!

Everyone should make his own coin, it is open source code afterall. This way maybe some interesting altcoin come.

I am reading lots of opinions, thanks for support this debate. Perhaps these coins born died but i think we dont have to feed the troll. (¿no trollcoin yet? please lets do it!! ;) )

there was a tr011coin...it died :P

https://bitcointalk.org/index.php?topic=367303.0

It's called an open market. Anything is allowed. Things will get figured out in time.

Everyone wants to cash in on early low difficulty mining.

I think it's going end up being a waste of time for most people because they will realize only 1 out of the 20 coins they mined made it to an exchange and their coins will be dirt cheap on the exchange. After that, no body will mine new coins and people will stop making them. The problem will solve itself.

I was thinking of releasing a proof of concept coin with some ideas I've had but I couldn't think of name until now. JerryBuseyCoin! Brilliant suggestion sir.

Im convinced that those shitty coins appearing now are actually a good thing. Its a test of strenght. New coins with strong community will survive.

I agree, but this was bound to happen. I'm just glad it's going to be over really quick. Through this we'll see better alt coins show up because there is a new standard that must be met to not be just another dump coin.

+1 it's killing the market, new shitcoins with imaginary reason why this coin will be the greatest and used in future (giftcoin for gifts, lotto for lottery)

 How about at least having some imagination for christs sake. it's like a 9 year old is designing these coins. it's sad.

you're wrong. altcoins serve one important purpose other than improving on bitcoin and that is; to introduce and involve people into the much larger game of bitcoin without having to invest exorbitant amounts of $$. since it's value has risen so high, a lot of middle to lower class individuals find it harder to buy in, even though you can buy in fractions.

 i paid $2500 for my 2.7mh rig and now have BTC6+ through trading up altcoins and cryptsy. 1.5 months so far.

some people will say that's a scam and i'm leaving bagholders.. but that's the collateral damage of having a free market. poor speculators can't blame anyone but themselves.

@DJTrey
This bump is for you ;)

https://bitcointalk.org/index.php?topic=400066.0