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1  Alternate cryptocurrencies / Altcoin Discussion / Exchange run icos/icds or whatever you want to call them (some would say scams) on: July 01, 2014, 11:20:39 PM

Apparently there is going to be a new ico run by bittrex (iceberg coin) and am curious if Bittrex has any rules whatsoever regarding their icos? Do they require a govt. issued ID for the dev? Will they consider changing their rules so it matches polo's new rules?

Unless they do, I see no reason at all for anyone to invest in any bittrex icos at all. So many ico coins have turned out to either be complete scams or simply terrible investments. The latter quite often being due to the devs not really using much of their ico funds on actual coin development. XBC, which could be looked up as the most successful of the icos, had a dev who basically ran away with practically all ico funds, then a second team had to take over. DCM had a team who made grand promises, then basically just closed up shop, collecting over 100 btc with apparently nothing really spent on the coin itself -- unless you count the 22btc they paid Bob in order to round up a team to pump the coin.

Why should anyone trust Bittrex or any new ICOs run there, unless they institute more stringent requirements? If someone from Bittrex reads this, I hope you at least consider some strict rules. And for those who has been cheated by a Bittrex run ICO, maybe send off a PM/email to Bittrex asking them to institute similar requirements that poloniex now does?

Devs shouldn't get any ico money at all until they use it for what they say they will. No giant lump sum payouts.
2  Alternate cryptocurrencies / Altcoin Discussion / Do people suffer from amnesia here? on: May 26, 2014, 06:17:33 PM

There is something I've wondered about.

No coin ever goes in a straight line up, forever. BTC didn't do it. Stocks don't do it. No investment does. Yet when a coin gets pumped, hits its apex, then tumbles down to a new floor, people go all into panic mode. The sky is falling, get out now, etc.

What I wonder about is, why do people repeatedly seem to behave in the same way? Sure, on a pure pump and dump junkcoin, it may tumble to nothing again, but people should have realized that would occur way before the pump. If, let's say Taxicoin, all of a sudden zoomed up to .01 for no good reason, no sane person would think it would remain there forever. I simply don't get why people go into panic mode on coins they previously believed to have good fundamentals, when it just moves down to its new floor? Human nature, I guess? Or selective amnesia?

Then there are troll types, who seem to behave in mostly the same pattern. There are always regular trolls who simply take joy from being jerks. And those who sold off, and don't want to see the coin zoom up while they are on the sidelines. But typically it looks like a pattern where trolls come out after a pump, spread fud, watch coin go down... then logically they'd scoop up the cheap coins at around half of what the pump level was... meaning 2x the coins, or profit + same coins they started with. We also have trolls/fud spreaders whose basic purpose seems to be to try to get people to invest in <whatever coin they are holding> by spreading fud against coins they deem a competitor.

What I don't quite understand in regard to this is just why does anyone believe trolls/fud spreaders? I mean, nobody should assume anyone saying anything, fud or hype, is doing so for altruistic reasons. If someone says, 'Get out of <coin> now, buy <new fancy coin> instead!' they must realize they have an ulterior motive for doing so.

I guess I am just confused by the repeating patterns and why they still work. Or maybe I have been watching the polo trollbox too much. I sometimes think they should put a little Pinocchio image next to the box, to better illustrate how valuable the info provided there is.
3  Alternate cryptocurrencies / Altcoin Discussion / Was this forum always like this? on: April 07, 2014, 05:17:10 PM
There is something I have been wondering about... has this forum always been the way it is now? I am somewhat new to cryptos, as I started about 3 months ago. I don't have much invested and am doing this mostly for fun, or with the approach if I do ever make a decent amount, my odds are about the same as winning a lottery. Anyway, when I stumbled across this site, I first expected it to be very very different than it is now.

I thought there would be analytical talk about cryptocurrency from economists. I expected some financial analysis, perhaps some theory discussed. But instead, we have... well, what we have.

There is basically no forum moderation whatsoever. The number of alts run rampant with no organization at all, trolls run free in the streets, scammy behavior all over, and quite often the level of discourse is about what you'd expect from a 14 year old.

Was it always like this? I am not for centralization or more control over cryptos in general, so don't mistake my post as meaning I want greater control or censorship. I just would like to see a better forum here. And those who scream 'scam' the loudest, spread fud all over, are probably doing more harm than many scammers. Just checking the forums today I see such nuggets of wisdom such as this:

Quote
oh yeah Jefferey dahmer did a great job injecting hydrochloric acid or boiling water into the skulls of his victims to turn them into sex slave zombies
and was a great at keeping severed penis's, torso's and heads in his freezer.. he was so good at he got away with it for years !
so i guess he deserved to get away with it and so does every other guy that comes along right ?
"amazing" work eh ? yaaaaaaaaaaa

ohh yeah i looooove your logic buddy ahahhahhahaa

omygod you people are fucked in the head seriously

Has the falling price of cryptos driven everyone insane here? Or were they always like that?
4  Alternate cryptocurrencies / Altcoin Discussion / Fastest coin to use when sending between exchanges? on: March 17, 2014, 08:58:15 PM
Just curious what coin most people use when you need to move a coin to another exchange, either for arbitrage or simply because there may be a coin there not on other exchanges -- situations where you want the funds there quickly?

Maybe litecoin? Then convert that to bitcoin? Something else?

I tried to do a little arbitrage just now, and was able to get a little done, but needed to move a small amount of funds from Cryptsy to the other exchange (Poloniex). I had doge on Cryptsy, so figured I'd just swap that over and since the buy/sell prices were close, it'd be pretty even. Convert the doge to btc on Poloniex, buy what I wanted, and I'd ship it back to Cryptsy... seemed simple to do, in my mind, anyway.

I first bought what I could at Poloniex with the btc I had there already, and moved that over to Cryptsy for selling. I was able to have it sent, and sell it on Cryptsy, before Cryptsy even sent me a confirmation email to do the withdrawal of the doge. I am still waiting for it, like 20 min later... and of course by now, it's too late.

Is there a better coin to use for these sorts of transfers?
5  Alternate cryptocurrencies / Altcoin Discussion / Best way to transfer funds between exchanges? on: March 05, 2014, 08:59:16 PM
I am still somewhat new to this, so am curious what most people here recommend when transferring funds between exchanges? I am talking about small amounts, so moving .05 bitcoins or so doesn't make sense due to fees.

What I have been doing is just using something that sells for around the same between exchanges (stuff like doge or sometimes mint), buying that at one exchange, moving it over, then selling for bitcoin again. Of course, depending on prices, there may be a bit of loss when doing it that way.

Is there a better way, or a preferred coin for doing swaps like that?
6  Alternate cryptocurrencies / Mining (Altcoins) / Cloud mining - newbie questions on: February 10, 2014, 07:15:53 PM
Apologies in advance if these questions seem very newbie-ish...

I've been experimenting with cloudmining a little bit, and figured I'd give the Azure trial a shot. I picked Darkcoin to go after, got three setups going (8/8/4) and put two to work in the main pool, one in the lottery pool. What I am wondering about is the rate listed vs the actual rate earned.

What I mean by that is, in the pool info, it may say something like User (me) DRK/Day 9.5  and the bitcoin equivalent afterwards. Yet after close to a day, the actual DRK I've earned is probably closer to 1-2 coins. Why is there such a disparity? Or is the approx. just a guess over a longer time period, or if I hit a block, or something like that? Or am I misunderstanding what the info means?
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