Does anyone else ignore coin threads that contain "PoW" ?

[TaunSew]

I sure have and haven't regretted it since making the decision.  New PoW coins all seem to die as they get dumped by the professional miners (the hardware kings) who are more concerned about short term profit than long term holding.

[Viper1]

I sure have and haven't regretted it since making the decision.  New PoW coins all seem to die as they get dumped by the professional miners (the hardware kings) who are more concerned about short term profit than long term holding.

Both PoW and PoS have issues as far as I can tell. PoW will have more people securing the network whereas PoS will be more vulnerable. Without new coins coming in via miners, PoS coins will eventually reach a point where most are hording and thus there's no economy with them and that will also cause them to die. I noticed some of the Uno guys actually trading that coin simply to keep the market alive rather than risk getting kicked off exchanges. IMO a coin really needs to have both but be well balanced. The vast majority of PoW coins being released currently are setup to dump on exchanges with their large block rewards.

[drawingthesun]

I sure have and haven't regretted it since making the decision.  New PoW coins all seem to die as they get dumped by the professional miners (the hardware kings) who are more concerned about short term profit than long term holding.

Yeah, isn't it obvious 99.9% of the coins here are scams? PoW has nothing to do with it.  PoS mostly are scams too, IPOs are again mostly scams.

Guess what? There are less than 10 legitimate crypto coins in existance.

[El Dude]

I don't know about everyone else but I just ignore all new coins.

I sure have and haven't regretted it since making the decision.  New PoW coins all seem to die as they get dumped by the professional miners (the hardware kings) who are more concerned about short term profit than long term holding.

Yeah, isn't it obvious 99.9% of the coins here are scams? PoW has nothing to do with it.  PoS mostly are scams too, IPOs are again mostly scams.

Guess what? There are less than 10 legitimate crypto coins in existance.

I would say less than 5

bitcoin
litecoin
namecoin
peercoin (maybe)

[ButtCrack]

I don't have mining gear so no interest in POW coins only.
POS is the future !

[Monkeys]

I think a balanced POW phase is necessary for good initial distribution. Without any POW the coin will only get distributed amongst maybe 50 people max, which means that the coin will immediately stagnate due to insufficient distribution.

Many people are scared off by POW because they believe that the miners will just dump the coin as soon as it hits an exchange. While this may be true to a degree, that can actually be a good thing for the coin as it will get initial volume going on the coin and the miners will sell at a low enough price to cover their mining costs with a smallish profit (if they're lucky).

If the coin actually is legit and has some innovation and proper development ahead, then the value will still increase beyond the finish of the POW phase.

POS is really the way to go for an established and well distributed coin I believe. It just makes sense. The tricky part is getting the POS reward right to incentivise staking without devaluing the coin through excessive inflation. I think around 3-5% is a good balance.

[darkota]

PoW transitioning into PoS over a # of years(5-100 years?), is the absolute best way.

100% PoS= Shit, they aren't currencies, real currencies are used for one thing only, the transfer of wealth. PoS coins are like Toys.

Threads that have 100% PoS, are always ignored.

[jaberwock]

I'm beginning to pretty much ignore all threads of new coins, I don't see any new coin worth the time.

But I put PoW coins are indeed in the lowest of my watch list of cryptcoins. ASICs really spoiled all the stuff

[Monkeys]

PoW transitioning into PoS over a # of years(5-100 years?), is the absolute best way.

100% PoS= Shit, they aren't currencies, real currencies are used for one thing only, the transfer of wealth. PoS coins are like Toys.

Threads that have 100% PoS, are always ignored.

I think years of POW isn't really needed. I think 30 days minimum, maybe 3-6 months is ideal imo. If the coin really has a future then it will survive and grow after the POW phase and the miners will actually hold the coin and not dump it because they too believe in the coins future.

[neuroMode]

I don't know about everyone else but I just ignore all new coins.

I sure have and haven't regretted it since making the decision.  New PoW coins all seem to die as they get dumped by the professional miners (the hardware kings) who are more concerned about short term profit than long term holding.

Yeah, isn't it obvious 99.9% of the coins here are scams? PoW has nothing to do with it.  PoS mostly are scams too, IPOs are again mostly scams.

Guess what? There are less than 10 legitimate crypto coins in existance.

I would say less than 5
bitcoin
litecoin
namecoin
peercoin (maybe)

Myriadcoin

[neuroMode]

Here's the thing about POS... as a currency it's terrible because you have to buy the currency from someone else to use it. How convoluted is that? You need a fair distribution method or else it becomes a pyramid scheme very fast.

[neuroMode]

PoW transitioning into PoS over a # of years(5-100 years?), is the absolute best way.

100% PoS= Shit, they aren't currencies, real currencies are used for one thing only, the transfer of wealth. PoS coins are like Toys.

Threads that have 100% PoS, are always ignored.

I think years of POW isn't really needed. I think 30 days minimum, maybe 3-6 months is ideal imo. If the coin really has a future then it will survive and grow after the POW phase and the miners will actually hold the coin and not dump it because they too believe in the coins future.

It's going to struggle to survive and grow when it's only distributed to the hands of those who were lucky enough to discover the launch and mine it for a few weeks. That's the worst. People are smart and not going to participate in something that a small group of people own,  especially when it's artificially made scarce.

[Monkeys]

PoW transitioning into PoS over a # of years(5-100 years?), is the absolute best way.

100% PoS= Shit, they aren't currencies, real currencies are used for one thing only, the transfer of wealth. PoS coins are like Toys.

Threads that have 100% PoS, are always ignored.

I think years of POW isn't really needed. I think 30 days minimum, maybe 3-6 months is ideal imo. If the coin really has a future then it will survive and grow after the POW phase and the miners will actually hold the coin and not dump it because they too believe in the coins future.

It's going to struggle to survive and grow when it's only distributed to the hands of those who were lucky enough to discover the launch and mine it for a few weeks. That's the worst. People are smart and not going to participate in something that a small group of people own,  especially when it's artificially made scarce.

Well yes I agree. That's why I think 30 days at a minimum. Probably 3-6 months is ideal imo. If the coin hasn't started to grow at least within the crypto world after that time then it probably never will.

[kelsey]

I'd assume all but the get rich quick newbies (ie suckers) avoid 99.9% of the Ann threads.

[V500]

pos is not secure and causes a lot of problems where pow is dumped.
Out of 30 altcoins 29 fail immediately these days and 1 fails a bit slower.

I'd recommend Unobtanium since that is very low inflation pow. The dumping is through with that and there is still a solid community to join if you care about real investing not only daytrding and get rich quick.


@neuromode myr is still to be dumped a lot more.

to be exact these coins are through with dumping and have survived it and have community and low inflation:

zet, qrk, uno, cgb, ifc

most others are still dumped like hell or are flashmined pos with a bad distribution.

[TaunSew]

I'd assume all but the get rich quick newbies (ie suckers) avoid 99.9% of the Ann threads.

True but your point being..?

A lot of people blind buy on the exchanges