Hi Burnum. Yes I read a lot that altcoins are dangerous. I see the ridiculous rises and falls in the charts. Now this with QRK. I bought QRK, but then people said this Keiser report with Bill Still would be a pump before the dump. Seeing the charts, you actually see the dump. Today I woke up and booted the PC, saw that NXT had risen about 200%. I could cash out with a 4 times profit of my initial input. However, I chose to cash only my input and continue with still keeping the rest of the coins (seen the value of each coin quadripled). Next thing I noticed was that many people started to sell NXT. I watched the sales carefully and saw people just going lower and lower with their selling prices, unintentionally "dumping" the value of their coin.

Now you could say that the altcoins are just there for pump and dump, which could be partially true. However, every altcoins (even BTC) could be seen as a pump and dump, because of the crazy increases and decreases of their value. While the problem lies with the owners of the coins themselves. When they see the coin has risen in value, each of them gets the look of $_$ in their eyes and tries to sell an x amount of their coins. Because people buy the cheapest coin, everyone is going to lower their prices, yielding a decrease of the coin value.

Aye that seems right. Then I will be careful with how much I will invest in new coins. However, do you guys suggest to start mining new coins at the moment they are released? Think that is your best bet, right.

Thanks for the answers. I bought QRK and NXT, however, QRK is down from the initial value I bought them, however I could have cashed some NXT today (bought them 3 days ago when I was starting).

Hi guys,

I was wondering if it is dangerous to invest in new Altcoins? I mean, when you look at all the charts, every new coin launches pretty high, or it increases to a high peak and after that it decreases every time. Lots of altcoins are freefalling. So, the question is, are the lot of them a pure pump&dump scheme or a scam so the developer can cash in pretty big? I mean what is the point of all the altcoins when they don't "innovate" over the altcoins; i.e. NXT/QRK coins are indeed an innovation over BTC in the sense it has at least another encryption method.

Thanks for explaining,

I do wonder why BTC dropped so far when China announced the trade in from Yuan to BTC was prohibited. Is it because there are a lot of investors in China? Why did it drop so fast?