STOP MAKING ALT COINS!!! diluting value.....

[Thorgrim]

So now that everything is down another 25-50% am I making a valid point?

[Hazard]

I dont see anyone trying to dictate which cryptos should be successful and have any pull in stating that.

The free market has so far decided that LTC and BTC > These new copy cat coins including FTC.

BTW FTC Time to Retarget   23 day(s), 7 hour(s), 33 min, 28 sec

I would hope so.

FTC dev is so incompetent that he couldn't even create his own genesis block. He used the same one as Litecoin.

[BrewCrewFan]

So now that everything is down another 25-50% am I making a valid point?

no no you dont. You think the USD goes down because some country made (printed) more money?

[Thorgrim]

So now that everything is down another 25-50% am I making a valid point?

no no you dont. You think the USD goes down because some country made (printed) more money?

You can buy anything with USD, Zimbabwe printing is not going to effect it. That is my point.

In the cryptocurrency marketplace BTC is like the USD. You can buy the most stuff with it. Some no name alt coin is not going to effect it. It will however effect other no name alt coins.

You can't buy stuff with all these new alt unless you convert, they are basically all diluting the same pool.

[Thorgrim]

If you want to buy oil futures do you think you can do that in Zimbabwe dollars? No. You have to convert, this is why USD is king.

[BrewCrewFan]

So now that everything is down another 25-50% am I making a valid point?

no no you dont. You think the USD goes down because some country made (printed) more money?

You can buy anything with USD, Zimbabwe printing is not going to effect it. That is my point.

In the cryptocurrency marketplace BTC is like the USD. You can buy the most stuff with it. Some no name alt coin is not going to effect it. It will however effect other no name alt coins.

You can't buy stuff with all these new alt unless you convert, they are basically all diluting the same pool.

What you are sounding like is that you got your eggs in one or 2 alt coins. Your worried about your "investment"

Welcome to open source and free market bud.

BTW, the market decided what a coin is worth. If people want it they buy it.

The makers of alt coins are not the people you need to be upset about. You need to be upset at the big miners who can mine thousands of a said coin and then dump them. THAT is what affects the price more than alt coins being made.

[BrewCrewFan]

If you want to buy oil futures do you think you can do that in Zimbabwe dollars? No. You have to convert, this is why USD is king.

Great. What happens if the US defaults or loses its status with the USD? It has happened many times over time. Learn some economics.

[Noitev]

If you want to buy oil futures do you think you can do that in Zimbabwe dollars? No. You have to convert, this is why USD is king.

Great. What happens if the US defaults or loses its status with the USD? It has happened many times over time. Learn some economics.

when has the USD not been the currency of the us?

[JahPowerBit]

The facts are there. Since the release of all these altcoins the value of LTC only down. Coincidence or consequence?
There's good reason to believe that there's a cause and effect, and it obvious that the output of all these altcoins is not good for the reputation of altcoins general. And the price of altcoins is directly related to their reputation.
Make altcoins only to repay GPUs, I think is quite wrong in the long term.

[BrewCrewFan]

If you want to buy oil futures do you think you can do that in Zimbabwe dollars? No. You have to convert, this is why USD is king.

Great. What happens if the US defaults or loses its status with the USD? It has happened many times over time. Learn some economics.

when has the USD not been the currency of the us?

Yes but your talking about buying oil. You think the USD would be as strong if oil was traded in Euro? That is what I thought you were talking about. The price of oil is set on the USD

The facts are there. Since the release of all these altcoins the value of LTC only down. Coincidence or consequence?
There's good reason to believe that there's a cause and effect, and it obvious that the output of all these altcoins is not good for the reputation of altcoins general. And the price of altcoins is directly related to their reputation.
Make altcoins only to repay GPUs, I think is quite wrong in the long term.

your full of shit. Its been stated many times that LTC is over valued not due to alt coins but due to other factors. Stop blaming losses on alt coins.

A majority of people that dont mine think BTC is a scam. Thats not even talking about alt coins.

Look, all the whining in the world will not stop the creation nor the trading of other alt coins.

[Thorgrim]

If you want to buy oil futures do you think you can do that in Zimbabwe dollars? No. You have to convert, this is why USD is king.

Great. What happens if the US defaults or loses its status with the USD? It has happened many times over time. Learn some economics.

I agree, the USD is shit long term but in the short term it is still king. Oil is still traded in USD.

Point I am trying to make is RYC is to BTC what some third world country currency is to USD. It is not going to effect it.

The alt coins are acting differently then currencies that have their own country though because those currencies no matter how mis-managed still have markets where you can buy and sell stuff. Most of these Alts don't, you have to convert back to BTC and to a lessor extent LTC to do anything with them.

The more different Alts you have being converted to BTC so people can cash out the more they all drop vs. BTC.

[BrewCrewFan]

If you want to buy oil futures do you think you can do that in Zimbabwe dollars? No. You have to convert, this is why USD is king.

Great. What happens if the US defaults or loses its status with the USD? It has happened many times over time. Learn some economics.

I agree, the USD is shit long term but in the short term it is still king. Oil is still traded in USD.

Point I am trying to make is RYC is to BTC what some third world country currency is to USD. It is not going to effect it.

The alt coins are acting differently then currencies that have their own country though because those currencies no matter how mis-managed still have markets where you can buy and sell stuff. Most of these Alts don't, you have to convert back to BTC and to a lessor extent LTC to do anything with them.

The more different Alts you have being converted to BTC so people can cash out the more they all drop vs. BTC.

What you say is very true. But in the dust of all the alt coins coming out, there are a few that have some thought behind it.  What we as a community is learn from them.

I still think you need more than 1 "USD" because what happens if something goes wrong? Now EVERYTHING comes crashing down... and no... you need more than one or 2

[Thorgrim]

I think there is room for many coins. There should be. It is just the sheer volume of new coins in the last couple of months that is the problem. I can't even keep up with them anymore.

If no more new coins were made for a year then things would sort themselves out. Some would die others would do well. But with more coming out almost every day, it is having a negative effect on all of them, people don't know what to think. One new coin is basically the same as another. They are not distinguishing themselves.

[marcetin]

OK, for now it is anarchy in crypto coin world, but by the time it will thrive in to something that is stable and usable.
... I hope so

But for now I share opinion that is better to put effort in one or two currencies , although making more and more alt coins just assure that banks and system will never succeed in killing this new era in world economy.
So.. at the end ... new world order will come out from anarchy, not from system as they think!

[BrewCrewFan]

I think there is room for many coins. There should be. It is just the sheer volume of new coins in the last couple of months that is the problem. I can't even keep up with them anymore.

If no more new coins were made for a year then things would sort themselves out. Some would die others would do well. But with more coming out almost every day, it is having a negative effect on all of them, people don't know what to think. One new coin is basically the same as another. They are not distinguishing themselves.

Thats when you learn to spot those that are somewhat decent.

Ive said that you do almost need to other coins with low dif or have been out a bit with low difficulty... because mining say... LTC is impossible for a normal user. I know many think of it as an investment... but those are not the people you dont need to target... its those that are not sure. Those that are not sure dont have more than 300kh and if they cant mine they aint gonna stick with the cryptos.