The Truth Behind New Altcoins

[iamnotback]

The majority of IPOs are confidence games.

Money only has value because of public confidence.

This is just a silly statement! You expect money to be something perfect but math and economies are created by man so it is imperfect by nature.


But majority of alts and IPOs are not currencies.. they're not.. I don't care about some textbook definition of it only XMR and ETH succeeded so far and they only differentiated from BTC not fiat.

I am talking about the larger scheme of things and $trillion market caps, which we won't reach without a currency with widespread public confidence. Don't waste my time with some minuscule $100 million market cap $2m of daily volume circle-jerk.

This is just a silly statement! You expect money to be something perfect but math and economies are created by man so it is imperfect by nature.

And you disregard economics so why do you want to talk about economics? XMR/ETH as alternatives to BTC are exciting from a economic perspective and if you know how trade and currency work you'll know what I mean!

Nothing I wrote implied I expected perfection. You are assigning your misintepretation.

I didn't discard economics. I stated that I am not interested in the small time pinksheets speculation markets and am rather interested in larger scale. That isn't a rejection of economics.

Please stop forcing me to be responsible to correct your silly, erroneous misinterpretations of what I have written, because of your outlandish ad hominem attacks.

[Azael]

The majority of IPOs are confidence games.

Money only has value because of public confidence.

This is just a silly statement! You expect money to be something perfect but math and economies are created by man so it is imperfect by nature.


But majority of alts and IPOs are not currencies.. they're not.. I don't care about some textbook definition of it only XMR and ETH succeeded so far and they only differentiated from BTC not fiat.

I am talking about the larger scheme of things and $trillion market caps, which we won't reach without a currency with widespread public confidence. Don't waste my time with some minuscule $100 million market cap $2m of daily volume circle-jerk.

This is just a silly statement! You expect money to be something perfect but math and economies are created by man so it is imperfect by nature.

And you disregard economics so why do you want to talk about economics? XMR/ETH as alternatives to BTC are exciting from a economic perspective and if you know how trade and currency work you'll know what I mean!

Nothing I wrote implied I expected perfection. You are assigning your misintepretation.

I didn't discard economics. I stated that I am not interested in the small time pinksheets speculation markets and am rather interested in larger scale. That isn't a rejection of economics.

Please stop forcing me to be responsible to correct your silly, erroneous misinterpretations of what I have written, because of your outlandish ad hominem attacks.

"Money only has value because of public confidence." This disregards economics and money is imperfect by nature. Now I've repeated it 3 times. Do you still not get it?

Bitcoin isn't 'larger scale' in terms of money and look where you are. In the altcoin section of a Bitcoin forum. Wakey wakey.

[iamnotback]

"Money only has value because of public confidence." This disregards economics and money is imperfect by nature. Now I've repeated it 3 times. Do you still not get it?

Bitcoin isn't 'larger scale' in terms of money and look where you are. In the altcoin section of a Bitcoin forum. Wakey wakey.

Shelby Moore III. Value of currency has historically been public confidence in it as a reliable unit-of-exchange. Bitcointalk.org, “Precious metals are not useful in a collapse scenario!” thread, post #62, Nov 2, 2016.

Bitcoin is primarily a speculation, not a currency. My statement is intended to say nothing about speculations and investments. A currency is by definition not (and MUST NOT BE) an investment, when it is your unit-of-account.

Do you still not get it? I resent your implication that I am the neophyte, when in fact it appears to be you who is.

(I hope you understand the definition of unit-of-account, it is the ruler employed to measure gains and losses)

[Azael]

"Money only has value because of public confidence." This disregards economics and money is imperfect by nature. Now I've repeated it 3 times. Do you still not get it?

Bitcoin isn't 'larger scale' in terms of money and look where you are. In the altcoin section of a Bitcoin forum. Wakey wakey.

Shelby Moore III. Value of currency has historically been public confidence in it as a reliable unit-of-exchange. Bitcointalk.org, “Precious metals are not useful in a collapse scenario!” thread, post #62, Nov 2, 2016.

Bitcoin is primarily a speculation, not a currency. My statement is intended to say nothing about speculations and investments. A currency is by definition not (and MUST NOT BE) an investment, when it is your unit-of-account.

Do you still not get it? I resent your implication that I am the neophyte, when in fact it appears to be you who is.

(I hope you understand the definition of unit-of-account, it is the ruler employed to measure gains and losses)

Yea I'm not reading that. When you start introducing or excluding stuff to improve your argument that "money only has value because of public confidence" you actually win the argument for me because you destroy your claim in the process.

[iamnotback]

When you start introducing or excluding stuff to improve your argument ... you actually win the argument for me because you destroy your claim in the process.

Improve = destroy. Amazing logic.

Bitcointalk is full of foul-mouthed goobers and disgruntled attackers. A few days spent reading posts there was enough for me.

"money only has value because of public confidence"

I do understand your arrogant misunderstanding is you do not understand what money is. You seem to confuse money with other things such as investments and speculations (which don't necessarily require ubiquitous public confidence).

Very few people correctly and fully wrap their mind around what money is. So you'll likely find a lot of sympathy/support for your blissful ignorance. I do realize that it appears to you that you are correct and smart, and illusions are often much more gratifying than education and admissions of ignorance:

https://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect

P.S. What you admitted you refused to read, is a summary of the historical evidence from beginning of the history record of human civilizations, backing the fact which I stated.


I hope you can stop wasting my precious time on this silly argument you have created and dragged out over many posts. I don't have available time to waste on you.

[danherbias07]

He is a newbie and yet he did hit the bulls eye. 
Thank God there are still this people who are not hypocrite in believing in those shitty coins who are just using it for their own profits.
They are using you so why not use them also for your own profit. Just dont go too far on saying it will be the next who will beat bitcoin. Pfft.

[Azael]

When you start introducing or excluding stuff to improve your argument ... you actually win the argument for me because you destroy your claim in the process.

Improve = destroy. Amazing logic.

Bitcointalk is full of foul-mouthed goobers and disgruntled attackers. A few days spent reading posts there was enough for me.

"money only has value because of public confidence"

I do understand your arrogant misunderstanding is you do not understand what money is. You seem to confuse money with other things such as investments and speculations (which don't necessarily require ubiquitous public confidence).

Very few people correctly and fully wrap their mind around what money is. So you'll likely find a lot of sympathy/support for your blissful ignorance. I do realize that it appears to you that you are correct and smart, and illusions are often much more gratifying than education and admissions of ignorance:

https://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect

P.S. What you admitted you refused to read, is a summary of the historical evidence from beginning of the history record of human civilizations, backing the fact which I stated.


I hope you can stop wasting my precious time on this silly argument you have created and dragged out over many posts. I don't have available time to waste on you.

Insults, twisting words and even lying about who started the argument is a lame attempt to steal more of my time.

[iamnotback]

Insults, twisting words and even lying about who started the argument is a lame attempt to steal more of my time.

I understand your lame Millennials ass has a difficult time accepting facts:

The majority of IPOs are confidence games.

Money only has value because of public confidence.

This is just a silly statement! You expect money to be something perfect but math and economies are created by man so it is imperfect by nature.


But majority of alts and IPOs are not currencies.. they're not.. I don't care about some textbook definition of it only XMR and ETH succeeded so far and they only differentiated from BTC not fiat.

I am talking about the larger scheme of things and $trillion market caps, which we won't reach without a currency with widespread public confidence. Don't waste my time with some minuscule $100 million market cap $2m of daily volume circle-jerk.

Monero has all the same flaws as Satoshi's PoW (the tail reward and block size adjustment algorithm do not solve those flaws). Once the anonymity feature is replaced by coin without PoW's flaws, Monero is toast. And anonymity is a tiny market any way.

Shelby Moore III. Value of currency has historically been public confidence in it as a reliable unit-of-exchange. Bitcointalk.org, “Precious metals are not useful in a collapse scenario!” thread, post #62, Nov 2, 2016.

Who started it.

This is just a silly statement! You expect money to be something perfect but math and economies are created by man so it is imperfect by nature.

And you disregard economics so why do you want to talk about economics? XMR/ETH as alternatives to BTC are exciting from a economic perspective and if you know how trade and currency work you'll know what I mean!

Nothing I wrote implied I expected perfection. You are assigning your misintepretation.

I didn't discard economics. I stated that I am not interested in the small time pinksheets speculation markets and am rather interested in larger scale. That isn't a rejection of economics.

Please stop forcing me to be responsible to correct your silly, erroneous misinterpretations of what I have written, because of your outlandish ad hominem attacks.

Who insulted whom first twice.

"Money only has value because of public confidence." This disregards economics and money is imperfect by nature. Now I've repeated it 3 times. Do you still not get it?

Bitcoin isn't 'larger scale' in terms of money and look where you are. In the altcoin section of a Bitcoin forum. Wakey wakey.

And then insulting me by insinuating that I am not getting the point, when it is you are a complete dunce not understanding the difference between money and investments.

Get the fuck off my lawn asshole. Accept you were wrong and you started a fight which you lost.

Can't you lame fuckers ever accept personal responsibility for anything?

Just say sorry for being ignorant and move on. It isn't that hard to do. I do it when I am wrong.


YOU ARE SPAMMING THIS THREAD AND THE FORUM WITH YOUR IGNORANCE GOING ON AND ON WITHOUT MAKING ANY VALID POINT WHATSOEVER.

[Adbitco]

Honestly, I never tried to earn or buy any altcoins but have seen people talking about and promoting ltc, ethereum etc so I would take advantage of this topic and like to be advised by all of you whether that's true for ltc, dogecoin, ethereum also

[cjmoles]

Well, the original poster is correct from a centralized perspective.  Most of the altcoins fail, probably more than the 96% quoted, but that's more because they fail to gain network support, then that they are purposely designed to fail by the developers.  When we look at an altcoin from the perspective of "what can the developers offer the network," as opposed to "what can the community do to support the network," then the differences are more apparent.  A cryptotoken is only as valuable as the community which supports it and a substandard token isn't going to gain much support.  A token shouldn't have any initial value....it's value should only increase as the strength of its community support increases....if nobody is willing to accept it as a medium of exchange, then it has no common value.  The network determines a token's value....not the script monkeys who pasted the code.  Having said that....I do believe there is much to be learned from experimentation....We're just going about it back assward....Ask yourself, "how long did it take for bitcoin to realize any form of liquidity?"  And, "from where did it gain its support?"  Bitcoin's developer disappeared too <----  Remember that!

[WhiteSkinnedFREAK]

96% of ALL new coins?

Do you have any source on this? Not saying I don't believe you, I'm new to this so I'm curious.

[iamnotback]

Insults, twisting words and even lying about who started the argument is a lame attempt to steal more of my time.

I understand your lame Millennials ass has a difficult time accepting facts:

iCEBREAKER:

Sorry my precious dear millennial snowflake, but that's not how it works.   

Lol.

[TDutch]

Only invest what you can afford to lose. Very simple rule.

Agree, and diversify. Do not invest all in one coin.

[1enterthebtc]

I propose a new word: Cryptojunky Someone who invests in all these ridiculous coins which have zero potential becuse they cant help it. CJ disease for short.

I got it. Been in rehab for 8 weeks. feeling much better now.

[jovs]

If you're new to these forums and think this place is legit...

I will tell you this.

96% Of any of the new coins, including many of the repped ones, are a few groups of thieves who produce and dump code where they alter some non-important piece of code that they describe in confusing terms to make the coin look good.

They attract new users who have not learned about this scam into paying them even before a coin launches.  They build up some btc from the release, keeping coins and investments, then just disappear.  You will see a mysterious new user post an alt coin days later that happens to be from the same group of people.

DO NOT FALL FOR THIS. ITS ALL BS.  There's a handful of actual legit coins the rest are either 100% scams or are simply dumped later on.

ALSO WHO THE HECK RUNS THIS FORUM?

IF YOU HAPPEN TO LOAD THIS UP ON TOR BROWSER YOULL NOTICE THIEVES USING THE TOR IP's WITH BANNED ACCOUNTS.  MAKES SENSE BUT YOULL ALSO NOTICE
THE FORUM OPERATORS WILL UNBAN THIEVES IF YOU PAY THEM IN BITCOIN.
??

Indeedly, investing new coin is like a bet or like giving your goods before payment. If you want to invest in new coin but in doubt, simply put a money you can lose. Most of professional sellers and traders are meant to be like that. It is not a bet, it is a strategy

[Oilacris]

Its not already a new thing for me but for those newbies out there for sure they dont have enough knowledge to trace this kind of doings on which most new coins or altcoins as of todays are just total crap or trash. Thats why investing on them especially on ICO will somehow hesitates me to put up money because of these circumstances but when i saw a coin which really do have the potential and roadmaps thats the time i will put my money on.

[stomachgrowls]

Its not already a new thing for me but for those newbies out there for sure they dont have enough knowledge to trace this kind of doings on which most new coins or altcoins as of todays are just total crap or trash. Thats why investing on them especially on ICO will somehow hesitates me to put up money because of these circumstances but when i saw a coin which really do have the potential and roadmaps thats the time i will put my money on.

Most altcoins now in the market are just total garbage and most of them are in Yobit website which are sleeping and dumping all themselves on that place.Its not really a shocking news related to this alts but there are some altcoin as of today who remains strong inspite of having previous issues like on ETH ETC.You could able to determin which coin is good and garbage if you do proper research.

[talkbitcoin]

Its not already a new thing for me but for those newbies out there for sure they dont have enough knowledge to trace this kind of doings on which most new coins or altcoins as of todays are just total crap or trash. Thats why investing on them especially on ICO will somehow hesitates me to put up money because of these circumstances but when i saw a coin which really do have the potential and roadmaps thats the time i will put my money on.

Most altcoins now in the market are just total garbage and most of them are in Yobit website which are sleeping and dumping all themselves on that place.Its not really a shocking news related to this alts but there are some altcoin as of today who remains strong inspite of having previous issues like on ETH ETC.You could able to determin which coin is good and garbage if you do proper research.

i gave up on researching about altcoins some time ago when i started to realize everything you read is a lie and a hype or at least most of what you read is like that.

this means when you for example read the announcement topic of the altcoins or read some of the speculation topics, you and then come back to what you read after some time has passed you realize why they were saying that particular thing at that time.

it is all a scheme to make the altcoin look good and then pump it while it is hot and dump while people are caught up in the hype.

[zef316]

Well i think that mostly there are low capital investors or small investors who are looking for free coins mostly. I think that when any coin listed then they are looking for getting more coins at cheap rates and  for free as well.

[xuan87]

Its not already a new thing for me but for those newbies out there for sure they dont have enough knowledge to trace this kind of doings on which most new coins or altcoins as of todays are just total crap or trash. Thats why investing on them especially on ICO will somehow hesitates me to put up money because of these circumstances but when i saw a coin which really do have the potential and roadmaps thats the time i will put my money on.

Most altcoins now in the market are just total garbage and most of them are in Yobit website which are sleeping and dumping all themselves on that place.Its not really a shocking news related to this alts but there are some altcoin as of today who remains strong inspite of having previous issues like on ETH ETC.You could able to determin which coin is good and garbage if you do proper research.

i gave up on researching about altcoins some time ago when i started to realize everything you read is a lie and a hype or at least most of what you read is like that.

this means when you for example read the announcement topic of the altcoins or read some of the speculation topics, you and then come back to what you read after some time has passed you realize why they were saying that particular thing at that time.

it is all a scheme to make the altcoin look good and then pump it while it is hot and dump while people are caught up in the hype.

Yeah sometimes the new alt coin seem to have a full promises, i had been fooled once by becoming the early investor end up the coin is almost worth to nothing, I think the new developer only look for a way to attract investor without being really develop the coin into a better coin, and it get worse by the news of new alt coin developer scammer