Are the Golden Days of Cryptos gone?

[Warning__3]

Well something got to change soon if any altcoin at all is going to survive, at the moment i see less and less activity on every coin except bitcoin :S

[bl0ckchain]

Exactly, I wrote a blog recently about this. Basically, too many new coins coming out and no new buyers means less money to go around. It seems to me as though most altcoins will die a slow death. The reason the devs keep making them is cos they net about $50,000 from their premine each and every time. A lucky few who watch altcoin  releases like a hawk can make a small profit but nothing to justify mining being a full time job that's for sure. I stopped mining a few weeks ago because the electricity prices in the UK are atrocious. If things pick up again I will start mining but for now I'm done.

Nice username.

The safest bet is long-term holds on mature coins with exceptionally skilled devs. Sometimes a coin has to kiss a few frogs before finding its prince.

[brooklynite]

Wow now I know what "DECENTRALIZED" means, it means BULLSHIT. Anyone having access to the FKINGCOIN.org website or being the OP on a thread can switch the wallet with a modified source and make everyone's coins worthless?

No I think you learned what CENTRALIZED means, as in the alt coin had such a small community that it was essentially one person.

All these altcoins are CENTRALIZED then not just goldcoin.

This guy akumaburn if he is the OP on the [ANN] thread, he basically is the god of that coin, he can manipulate the wallet, fork the chain, create a new fake chain and have the new updated 1.2 wallet download the "fake" chain which he created to have some other people's coins move into his account.

There is no "decentralization" here, we are just kidding ourselves.

Bitcoin may be different somehow, but still, someone (or a few) has (have) the password to update the QT wallet on bitcoin.org which could change everything in a snap. He could put a code in there to take the coins out of 1% of the Bitcoin owners and send them to his own account. No one would care about that 1% screa,ing their lungs out in these threads. Many may not even find out before its late. Such a thing could completely destroy all altcoins.

I don't know what you're smoking but don't do it anymore. At least not while you're on this forum.

Go back to the support section and do your homework again before even thinking of writing this things down.

Wait? Im smoking or are you living in denial? Just like the developer of a coin can switch the code to implement KGW he can also implement other code to take YOUR coins out of your WALLET anytime in anyway, maybe in percentages, ANYWAY he wants, he writes the CODE he makes the decision. Who is going to catch that? Even Apple cant find loop holes in their Safari and constantly gives updates. You think people on this forum can catch crooks like that?

You are the one who is in denial my friend. I am not smoking anything.

[newneo3]

Crypto concept is cool, but BTC and alt-coins are like... you printing your own notes and asking people to believe in magic and value. I hope Govt's will look for a way to digitize fiat. Just my opinion.

Some movies you might like to look at... all I saw on youtube. "Money as Debt," "The Corporation," "Money Masters."

"Digitize fiat"... 90+% of money is just bits on a hard drive (or some form of ledger) somewhere. There are not enough notes to give people if everyone wanted them in hand.

"you printing your own notes and asking people to believe in magic and value" ... Amazingly this is pretty much the same as fiat. The difference being we just can't keep printing.

IDK how I came across but my intent was not to be rude (and I'm pretty exhausted). Just trying to point out that cryptos are as legit as the USD, AUD, GBP or any other fiat currency. I believe in "Money Masters" the narrator mentions a period in US history when there were many notes within the colonies, even one colony itself could have several. Eventually they were consolidated..... feel the same will happen in cryptolandscape.

But I'm brandy-new here so I really don't know what to expect. I believe the consolidation would make sense though.

[digitalindustry]

Wow now I know what "DECENTRALIZED" means, it means BULLSHIT. Anyone having access to the FKINGCOIN.org website or being the OP on a thread can switch the wallet with a modified source and make everyone's coins worthless?

No I think you learned what CENTRALIZED means, as in the alt coin had such a small community that it was essentially one person.

All these altcoins are CENTRALIZED then not just goldcoin.

This guy akumaburn if he is the OP on the [ANN] thread, he basically is the god of that coin, he can manipulate the wallet, fork the chain, create a new fake chain and have the new updated 1.2 wallet download the "fake" chain which he created to have some other people's coins move into his account.

There is no "decentralization" here, we are just kidding ourselves.

Bitcoin may be different somehow, but still, someone (or a few) has (have) the password to update the QT wallet on bitcoin.org which could change everything in a snap. He could put a code in there to take the coins out of 1% of the Bitcoin owners and send them to his own account. No one would care about that 1% screa,ing their lungs out in these threads. Many may not even find out before its late. Such a thing could completely destroy all altcoins.

^^^ this is great < where did we find this guy ha ha ?

this is officially my favorite topic.

just love the name.

[digitalindustry]

Crypto concept is cool, but BTC and alt-coins are like... you printing your own notes and asking people to believe in magic and value. I hope Govt's will look for a way to digitize fiat. Just my opinion.

Some movies you might like to look at... all I saw on youtube. "Money as Debt," "The Corporation," "Money Masters."

"Digitize fiat"... 90+% of money is just bits on a hard drive (or some form of ledger) somewhere. There are not enough notes to give people if everyone wanted them in hand.

"you printing your own notes and asking people to believe in magic and value" ... Amazingly this is pretty much the same as fiat. The difference being we just can't keep printing.

IDK how I came across but my intent was not to be rude (and I'm pretty exhausted). Just trying to point out that cryptos are as legit as the USD, AUD, GBP or any other fiat currency. I believe in "Money Masters" the narrator mentions a period in US history when there were many notes within the colonies, even one colony itself could have several. Eventually they were consolidated..... feel the same will happen in cryptolandscape.

But I'm brandy-new here so I really don't know what to expect. I believe the consolidation would make sense though.

if any Gov "digitizes fiat" it will be as per neutral control and it will be a crypto currency, they won't have any control over it, except for saying  " we support this "

that one sentence and the viability of the government that said it will help determine net "value" . 

[jabo38]

alt coins have given themselves a bad name.  it scares people away from the community as a whole.  if there isn't something truly revolutionary, like a total game changer (not just a copy paste and little tweak), then the people trying to release should be shamed as scammers. 

[RJX]

It's like the tulip mania in the 1630s, only a few will survive.

Ahh, the Dark Age. Pestilence anyone? A turnip perhaps?

 

on topic: I believe that order comes from chaos. The golden age has not arrived yet. Today we are still pioneering even if that only means tweaking existing code and making a quick a buck of it. Those days will pass, we will move on and in a year or two we'll be making jokes about the 'Wild West' days.

That is, if the community as a whole decides to put an end to these practices and not support shady dealings/coins. If not, a golden age will never arrive.

I like to believe it will.

[bushstar]

Are the golden days of crypto gone asked in 2014 when they had not even started! Actually the content seemed to be have the golden days of mining gone and if by golden days mean mining in your bedroom and making a profit then I'd say so for the most part.

Are there still amateur miners out there making a profit or is it all farms and ASICS?

As for crypto itself it has yet to really reach out into people's homes, but barriers to adoption are coming down and new innovative alts are coming out all the time. I'd say we still have the real golden days of crypto to come and not just participating in coin generation.

[phr0stbyt3]

Are you serious or just playing around. If you see the coinmarket cap all your questions will be answered the altcoin market is blowing up i still remember all of us were waiting for ethereum market to reach above 1 billion market cap but now it is more than 20 billion and coins like stratis has cap of 1 billion