Bitcoin Forum

Alternate cryptocurrencies => Altcoin Discussion => Topic started by: virtualdn on October 16, 2014, 04:40:52 PM



Title: Why are new altcoins still being launched?
Post by: virtualdn on October 16, 2014, 04:40:52 PM
Until we don't see something really new... it's a waste of time and cash. The good old days are long gone.


Title: Re: Why are new altcoins still being launched?
Post by: ChekaZ on October 16, 2014, 05:08:08 PM
If newbs fall for them, they wont stop anytime soon.


Title: Re: Why are new altcoins still being launched?
Post by: HeroCat on October 16, 2014, 05:08:51 PM
They do not know what to do and then they make new crypto coins  ;)


Title: Re: Why are new altcoins still being launched?
Post by: Spoetnik on October 17, 2014, 01:14:37 PM
Until we don't see something really new... it's a waste of time and cash. The good old days are long gone.

guys think they can make money off them by getting in early and dumping later etc.
i don't think many of these new investors are gullible noobs.. they are experienced users who know what they are doing..


Title: Re: Why are new altcoins still being launched?
Post by: CryptoCarmen on October 17, 2014, 01:27:16 PM
Until we don't see something really new... it's a waste of time and cash. The good old days are long gone.

It is all about cash. And not the waste part of it.


Title: Re: Why are new altcoins still being launched?
Post by: YarkoL on October 17, 2014, 02:28:39 PM
i don't think many of these new investors are gullible noobs.. they are experienced users who know what they are doing..

Keeping the racket going on and fleecing newer users.
While being vocal opponents of "shitcoins".

That I guess is the main reason why the altcoin board is here. To attract
newbies and their money.  


Title: Re: Why are new altcoins still being launched?
Post by: rabbiter on October 17, 2014, 03:31:42 PM
This paints a picture of naive Newbies taken in by the evil coin makers.

The reality is many long time forum members are at the centre of most of the scams benefiting and playing along.


Title: Re: Why are new altcoins still being launched?
Post by: gjhiggins on October 17, 2014, 06:07:12 PM
It's merely an unconstrained version of this:

Quote
INNOVATIVE GAME: FANTASY CRYPTO
Fantasy Crypto pits crypto enthusiasts against the market, and each other, in real-time!  In a brand new game of skill, and a dash of luck, players pick the cryptocurrencies they believe will make the biggest move. Selecting cryptocurrencies is much like picking players in teams, limited by salary caps. Choose your coin lineup, selecting five Offense (up) and five Defense (down) from five categories based on key features. The games may be daily, weekly, 4-weeks, or longer. Your final score is the sum of your Team’s Players’ points at the end of the game period.

The cryptocurrency that changed the most in its group and in your anticipated direction earns five points; the second most earns three points, and the third earns two points. You will have picked three cryptos up and three down in each of five groups.  A perfect score would be (5+3+2) x 2 * 5 = 100 points. The lowest number of points would be zero. The game prize will  be shared across the Top 10 gamers.

The monitored cryptocurrency stats are equivalent to player stats in Fantasy Sports. To assure timeliness and transparency, data will be updated every 5 minutes and consistent with most coinmarketcap.com conventions.

Many new Crypto Games are in the pipeline for Breakout Gaming. The objective is not just to be fun and rewarding to play, but to gain and share insights within the Crypto Community. What are the features of coins that make them succeed or fail, e.g., premine percent, security, theme, privacy, etc.? How exactly do you predict a winner or a loser? What are the market conditions that favor or hurt various coins? Are there algorithms that enable one to pick direction and duration of price moves? We want vibrant discussions and discoveries about cryptocoins, as well as fun and games!
- (found in https://bitcointalk.org/index.php?topic=808648.0)

For the real-life version of the above, there's really not much difference between it and emptying one's wallet into the vast array of online games/gamifications that will so readily relieve you of your cash --- except that for altcoins, the risk/reward ratio is less easily quantifiable and there is inarguably an element of skill/knowledge in constructing a portfolio of coins to hodl for a while.

There's also the social aspect, a factor that is all too often under-appreciated in altcoinland.

Cheers

Graham


Title: Re: Why are new altcoins still being launched?
Post by: snake.in.the.blanket on October 17, 2014, 07:36:28 PM
because bct if full of dumbasses believing all of newb devs lies and promises.
Most devs cant even justify why they have an ipo and people here still buy it..

why wouldnt they rinse repeat and keep on scamming people here?
greedy pool ops, greedy exchanges, fake hash, fake volume, bots on other markets to fck with coins who could be competition etc etc

its not like anyone is making it hard for them, this is heaven for scammers...


Title: Re: Why are new altcoins still being launched?
Post by: Coinshot on October 17, 2014, 07:44:03 PM
Its simple market dynamics. If there is demand they will be made.

The day when there is no more profit to be had, it will stop. But its never going to happen.


Title: Re: Why are new altcoins still being launched?
Post by: Outlander on October 17, 2014, 08:11:16 PM
I'm reading this while i'm thinking the name of my new coin. Just kidding.

The answer is business.