Bitcoin Forum

Since when did technology progression become such a joke ??? It seems like there's been a new coin released every 5 mins.. each bringing absolutely nothing new to the table other than being "rare" or "abundant". Hey my old cigarettes are rare and btw my 5 gallon water bottle full of pennies is abundant - doesn't mean they are worth anything.

Honestly this entire scene is being polluted with garbage coins. Dogecoin? Really? What new tech did this coin bring to the table other than a ridiculous block reward and large supply pool? It's just another clone with a dog picture slapped on it. Coinye West? Really? You actually thought that you had a chance at becoming a top rate currency? Piratecoin? What possible advantage does an internet pirate have by using your coin? 42? Trading at $800,000 a coin... Someone tomorrow clones it and releases "41" trading at $xxx,xxxx a coin. Next week someone creates 1/4 coin "only 1/4 of a coin will ever be released" trading at $xxx,xxx,xxxx,xxxx.

Honestly it's gotten so bad that a dogecoin minion tweets to Matt Green(zerocoin) defending his crapcoin from Matt's righteous Dogecoin mention in a recent Forbes article. Matt is working on some next-level tech in the crypto scene he shouldn't have to respond to some crapcoin holder or developer for that matter.  

The only real altcoin list I see so far is Anoncoin, Litecoin, Stablecoin, Peercoin, Zerocoin, Primecoin, Skiencoin, Securecoin and Datacoin.

Each of the above coins has/is working on new technology to progress cryptocurrency into the coming years. Honestly we should start a movement to remove other altcoins from the exchanges if they don't provide at least one new advancement. BTW cloning a repo and replacing key values doesn't count.

If you aren't contributing anything on the protocol level GTFO you're taking up valuable ports. This entire forum looks like a craigslist bot started pushing altcoins.

Or in other words, the spammers will spam aka the marketers will market, ultimately deciding how much spam to spam per scam to spam and scam the suckers into blowing their hard earned wealth on.

All the market is telling us is that unregulated scams find victims easily.

-MarkM-

I tend to agree with you that the exchanges are the ones to blame. If they only had a few quality coins then it would stop people cloning new crap everyday. Cryptsy used to be the home of the crapcoin, now it is actually one of the higher brow exchanges.

I wonder how much suckers usd has found after 1971 ;D. Ops, sorry, there were some aircraft carriers for persuasiveness ;).

I guess some people don't believe in a free market, bleh

It is not a free market, it is a market in which suckers have been brainwashed since birth into believing that financial products are heavily checked out by all kinds of august bodies to try to ensure they are not scams that they are viable that they have sufficient financial backing to compensate people if anything goes wrong etc etc etc.

-MarkM-

What was it that PT Barnum said?

Oh yeah, and the world keeps spinning.

Some coins will fail and some will prosper.

Alts are just going through an evolution phase. Once the scamcoin developers realize their efforts are for not then it will stop. Of course many people will need to get scammed before that will happen. Just make sure you are not one of them. Alternatively, you can ride the boat for now and make some profits as well.

Have anyone heard about shoe polisher buying mining rig or ASIC? :) If no - then we have some time here.

This is the free market at work. Take a look at the film industry, or the game industry, Hell, take a look at the crap China makes on a daily basis.

This is capitalism at work. Welcome to the real World.

If you notice, people are becoming more and more picky about the coins they mine. It's there if you look. Altcoins are beginning to compete for attention. Again, this is exactly how the free market works. You're complaining about a process which will ultimately improve altcoins. Let it happen. Pick the right coins and maybe you'll see things differently.

If I knew how to code I would release a coin with 0 premine and fair launch for every coin release that has a premine. I would call it the same name too. haha. touche!

Yep. Look at the government's debt here and there. Look for example how after the abolition of the gold standard, despite it is believed that the U.S. national debt growth will be compensated with analogous growth of the tax base. While the U.S. tax base grew exponentially - at the same rate as the U.S. national debt, this scheme was balanced, but it began to falter long ago. And since that time present fiat money making scheme was gradually transformed into a debt pyramid scheme. This is also capitalism at work. There are always two sides of the coin.

OP is absolutely correct. Each and every day some new piece of shit surfaces that comes with a glittering logo and some fancy name. When you read the details though it's nothing but the same old crap... there will be millions of them produced over the years, blah blah blah.

Consider that BTC and LTC are still trying to find people to adopt their currency in the real world such as bars, online shops, etc. and it's an uphill battle. People keep crying that BTC will see $10,000 per coin but you know that's not true. People will buy and sell them and they'll change hands 100x over just as LTC will change hands 100x over but the price will never skyrocket.

So what makes these people think their coin with a dog, cat, mouse, anon mask, etc. is going to do any better? They won't. There will never be any market for these pieces of junk. It's only because people that missed the Bitcoin boat rush to these new coins with their miners thinking, "This is gonna be the next big thing". Well it won't.

Think of the hockey card phenomenon where old cards became very valuable. The industry saw this renewed interest in sports cards and began releasing new sets every month. Even Pokémon and Magic cards try to release add-on packs and other junk cards to further suck the money from your wallet. The cards you purchase today will never amount to any worth because you know everyone in the world is also buying them.

The same with your precious Doge's and 42 coins. Everyone is jumping on the bandwagon and in a year from now when the fad has passed, you can't spend them anywhere in the world, they'll die. Unfortunately we have exchanges like Cryptsy who try to add every coin they can (despite their service sucking and incredible issues for members) that doesn't help.

It's sad that the market has come to this where idiots actually buy into these mockery coins. I'll stick with BTC, LTC and mine Sexcoin or Tagcoin if only to convert to BTC/LTC. The rest can die a miserable crash. You people (creators of coins and buyers of coins) have made a mockery of what was once a promising market.

Really - what are you buying and selling anyway? Nothing but a numbered unit of air. At least with BTC and LTC you can purchase real world goods. Doge's, Memecoin, Yak's, etc. will never get you anything in the material world.

Do you have any crypto? check the thread a theory on the evolution of cryptocurrency

https://bitcointalk.org/index.php?topic=406515.0

Disliking 80% of the coins out there does not equate to "hate it here so much". There is still 20% enjoyment from the hobby.

And if you don't like some of the responses, don't read them.

it cant last forever, people will get bored of constantly mining new coins. i know i have.

Why are you so frustrated? Why are there so many new coins? Because there is a demand for it. When there is a demand, there is a supply.

All these alt coins are bringing many new crypto users, and many coins (Doge for example) are brining crypto world to mainstream. Something that your precious and serious LTC/BTC never managed to do...

When there are users, there are communities. Communities bring great stuff to the table. When, and IF all these "shitcoins" as you call them, die, where do you think users will go? To invest in "stable" and long known BTC and LTC.

So, how ever you want to look at it - it's a good thing. If you cannot see that my friend, you are a very unintelligent person.

While I 100% agree that there is way too many crapcoins, way way way too many now.

I don't agree its all about advancement, adoptions whats needed not so much just advancement, I don't care if its a direct clone of btc or ltc as long as its got strong support.

If the community narrowed what they were supporting even just down to 50 good coins that would be best for everyone. Most the coins now are just pumped out for a quick profit or a joke.

You're kidding, right?

Anoncoin slapped an anonymous gif on a scrypt clone and nothing else.  :D

Investing into shares of air that can never be used outside of the internet, never used on any actual goods, just bought and sold compared to BTC/LTC's continued success and real world implementation makes you an unintelligent person.

Really, 100k Doge's is something people want to throw money into? I've got boxes of air for sale... can someone demand them?

well said

Just wanted to let you know, Securecoin is a fork of Quark. Securecoin has no innovations; the secure hashing is one of the original features of Quark.

I love all of them. Get a little BTC by trading them every day

All these various altcoins made me rich. Not a private island, Peruan blow and hookers rich, but enough to quit my job,  get a 20% part time job just so I can go out and meet other people rich. Doge and Moon alone made me around 10k USD. The ~7000 litecoins I mined back in the CPU days bought me a car. Now I hope my Data , Stable and Tagcoin investments will pay off.
Does not actually force me to believe in any of those coins. They were, so far, however, an awesome medium of wealth transfer for me. Plus the whole darwinian thing. If a coin survives this jungle, it just might have the right qualities.

 ::)

I will preface by saying that I am NOT a coin developer. However, I do see merit in these coins, but only from the perspective of monkeys and typewriters. Eventually someone will find that perfect mix of confirmations, coin abundance, lack of orphans, number and locations of nodes, marketing principles, etc which will create the "perfect coin". Because, frankly BTC is far from perfect. The other day I waited 8 hours on a payment to finally confirm.. What the hell. So, haters gonna hate, or maybe just become fed up with the game and in that case I sympathize. But, in the mean time, I just mine for fun, not to "get rich", cause, brother, that boat sailed about 4 years ago when BTC were worth 3 cents each.

If people would stop cloning coins by cutting and pasting from old source code and DEVELOP a new coin, great.

Each day we see new coins that are nothing but the same old wording and same old features. Why do people waste time mining such crap?


NXT coin has merit but a confusing interface to get running.

To all the developers, how about a FORWARD option for the next wallet to take funds and send them right away to a 3rd party address? This way one could leave their wallet running, it would take funds coming in from mining and send them to your exchange. Just an idea.

You all might want to sit here dissing all the alt coins in the altcoin forum but results speak for themselves. Every new coin within a day of launch have 50-100+ Mh/s per network. With these new lower end marketplaces opening up market for just about any coin possible 30+ MH/s ops are joining in on brand new coins cuz it's more profitable than mining litecoin. Who cares if a coin is innovative is you can earn a bitcoin or more every week?

although many of these alt coins dont bring anything new they are bringing new people to the scene in turn more people know about crypto~currencies bitcoin, litecoin etc which is fantastic. doge has brought a lot of people to the world of crypto~currency.

My big idea that no one seems to want to implement is building the GUIminer script version INTO the wallet. solo mining made easy for newcomers and increase the size of the crowd.

This is what turned me off on Doge ... the arrogance of many of the supporters is way over board.Granted they did market well with how they opened it up...but come on it was a joke. The reason why it is where it is because its popular. I give them that and thanks for that because it got new blood into cryptos. Karma is a bitch... while they may be enjoying it now, as with all things, its to come down, how hard is the question.

If they started to act like their shit does stink just like the rest of us, I would respect them more... but they keep up the current attitude, you aint gonna get no support from me except dumping the shit coin if I ever mine it.

The thing that drives it is the quick pump and dump. Thats the only reason people mine it.

Dont get me wrong some will have a nitch... but most new coins are just get rich quick.

I mine and dump must of them as soon as I can.

The only coins I have any real interest in at the moment are:  BTC, Vertcoin, Microcoin, Dogecoin, Stablecoin post mixer, and whatever official altcoin that Zerocoin is released as.  I would allow Skeincoin into the list, even though it's name sounds like a disease, due to the fact that we need more coins that won't be abused/monopolized by multipools and ASIC.  Vertcoin, Microcoin, and Skein are all bringing something big to the table in that regard.

I have mixed feelings on LTC.  It's actually superior to BTC as a currency due to Gambler's ruin and block time, but LTC could easily be defeated by something like Vertcoin.  There is, after all, no real reason for LTC to exist once it becomes bombed with ASIC in the same manner as BTC.  Microcoin is probably the first proof of stake coin that I have any interest in, but the developer really needs to draw up a chalkboard of how he plans this coin to work, instead of expecting people to sift through the source to figure out GPU vs CPU effectiveness at specific time intervals, etc.

And last but not least, anyone that doesn't like Dogecoin will eternally roast in the flames of hell.

I initially hated all these badly made shit coins with no future but now I am loving them.  All these new pointless coins are taking away people from the coins I mine and in doing so they are not helping to increase the difficulty level on them.
Thank you coinye, 42, moon, doge and all the other no go coins for taking the dreamers away from my coins and allowing me to mine more of what I want.  Please don't stop making these trashy coins I beg of you, let the kiddies have their coin while I make real money :)

It is a matter of perspective and as far as my perspective goes the more the merrier.  keep making those coins guys and keep the riff raff away from mine :)

that would be cool i always have problems solo mining so normally end up waiting for a pool.

Litecoin used to have pool mining in the wallet but they took it out. Apparently the foxcoin people put it back in which was cool. For ltc it's probably not useful but for newly launched coins a wallet miner is good.

I have a feeling they took it out because they were concerned that since it's less efficient it would cause global warming lol. I'd like to know why exactly but anyway I think miner in the wallet is good.

WRT the OP I definitely agree too many alts. Makes me sad cause I didn't get into it soon enough but yeah it's tiring and then after a week or two they have to fork and blow up the coin. Part of the problem is that the increasing diff scale creates get rich quick possibilities until it rises. Maybe the new standard should be gravity well or don't mine it.

Wow, really! You must be just about the only one to do this!
This is why there is a topic called ALTCOIN FAIL!

If you do only this unselectively, there is no much money in that action.

8008s :D

+1000

:D :d :D

the more coins that come out the more coins that there will be for people to choose from therefore no one will know what to do with the bullshit coins and the only coins that will make it will be the ones that have something to offer

bring on a s*** coins bring on the s*** going to mark wants the better as soon as there is 5000 then it will have to be an innovative coin to make it

Not to mention the "IPOs." IMO, the best way to look at the next one is to see it as a lottery ticket. You plunk down your $20 or $50 and you takes your chances. If it's a scam or fustercluck, you end up with a busted ticket and some memories - exactly like the real lottery. If you're a lucky winner, you might get 0.1-0.2 BTC out of it. If you're very lucky, you might score a Bitcoin. If you're really, really lucky, you might win enough for a new mining rig.

Look at this one, from which the devs have scampered off: https://bitcointalk.org/index.php?topic=528925.0;all Supposed to have launched three days ago, and it hasn't. To be honest, I went in because the whole concept captured my imagination. But because I've been burned, having thrown 0.4 BTC into Edgecoin, I only threw in 0.1 BTC. So did many others, more or less.

The "IPO" was open for a month. Total haul? About 1.5 BTC. Yes, less than eight hundred bucks from everyone.

We're learning slowly, but we're learning.