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Author Topic: intrinsic Problem of Altcoins  (Read 1278 times)
X68N
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June 25, 2015, 09:17:38 PM
 #1

I am wondering what gets a developper of benefits maintaining and programming new features to a coin?

I mean if there was no premine and the dev could grab some coins at the start ok, but in the long run the
Value depends on the dev implementing new features keeping the folks interested in the coin.
(Website hosting, Marketing,Programming)
Its like a real business with expenses which need to be coverd. And dont forget the Dev need a income for a living too. Huh


I mean its just easier to invest in existing coins
So what are their motives?

YOBIT IS SCAM , YOBIT IS SCAM , YOBIT IS SCAM meine Steuerdatei:
https://bitcointalk.org/index.php?topic=612741.msg19244732#msg19244732
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June 26, 2015, 05:51:50 AM
 #2

I am wondering what gets a developper of benefits maintaining and programming new features to a coin?

I mean if there was no premine and the dev could grab some coins at the start ok, but in the long run the
Value depends on the dev implementing new features keeping the folks interested in the coin.
(Website hosting, Marketing,Programming)
Its like a real business with expenses which need to be coverd. And dont forget the Dev need a income for a living too. Huh


I mean its just easier to invest in existing coins
So what are their motives?


Learning and putting yourself in a leadership role, how do you know what you are capable of unless you try?
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June 26, 2015, 06:09:10 AM
 #3

I imagine the motives are different for everyone.  Some to get rich, others to make an innovation.  Who knows what else.  Maybe some are just interested in the challenge.  For me I would like to make a vanity coin, that was not worth anything , but just for fun.  But there are already so many of these that there really is not any point.
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June 26, 2015, 06:14:50 AM
 #4

For me, it would be to educate myself.

I actually almost made one to get my daughter interested in cryptocoins. It worked perfectly, but i wasn't able to compile the windows QT wallet (everything worked perfectly under linux). before anybody is going to hate: i wasn't trying to create a shitcoin just to do a premine, ICO,.... I just wanted one for in-family use...

About the hosting: i can get 2 VPS's + a domain for about $40/year, that should be more than enough to host 2 nodes + a small website... I guess you could easily break even by putting some google adds on your page, accepting tips in your own coin or BTC,... If not, it's only $40/year, if i go to the pub with my friends, i spend more than $40 in one evening...

 

                                       
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LedgerWallet








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June 26, 2015, 02:06:06 PM
 #5

I am wondering what gets a developper of benefits maintaining and programming new features to a coin?

I mean if there was no premine and the dev could grab some coins at the start ok, but in the long run the
Value depends on the dev implementing new features keeping the folks interested in the coin.
(Website hosting, Marketing,Programming)
Its like a real business with expenses which need to be coverd. And dont forget the Dev need a income for a living too. Huh


I mean its just easier to invest in existing coins
So what are their motives?

Mining from the start meaning they will amass a lot of the coin themselves (not a premine, otherwise it will almost certainly be called a scam coin)
Then they are invested and want the coin to succeed.  In 2013 just starting a coin meant it would be pumped to 5 figure values, a good reason to start a coin and do a good job!
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June 26, 2015, 08:52:12 PM
 #6

I am wondering what gets a developper of benefits maintaining and programming new features to a coin?

I mean if there was no premine and the dev could grab some coins at the start ok, but in the long run the
Value depends on the dev implementing new features keeping the folks interested in the coin.
(Website hosting, Marketing,Programming)
Its like a real business with expenses which need to be coverd. And dont forget the Dev need a income for a living too. Huh


I mean its just easier to invest in existing coins
So what are their motives?


your post is so full of shit it's not even funny.

for starters NO the devs don't deserve fuck all for their time and work.
guys if you can't afford the up start costs of starting a new global "currency" then don't do it.. period.
don't sit there and tell me you deserve a premine or a Million dollars.. cough cough BLOCKNET

and
Quote
Value depends on the dev implementing new features keeping the folks interested in the coin.

whaaat ? LOL  Roll Eyes

uhh son, the value lies with the currency being USED by humans.
the intrinsic inherint value of these things are mostly null.. nada.. zilch

I here noob coin cloner here wants to call himself a dev cause he got a Tut and ripped of some code from github
and now he wants to justify he needs a premine and a cash flow to keep people "interested"
oh yeah all that matters is you keep adding new features to a coin  Roll Eyes

jesus Christ wow..
it is so painfully crystal clear obvious most of you (so called "devs") are here to siphon money from people (while playing dumb about it)
So uhhhhhh who is paying Github ?
Seems to me all you coin cloners tacking on new features should be paying them a ton of money for the REAL product / service THEY provide.
hear them crying ?

edit:
oh and i'll give you some advice for success..
rather than being worried about "keeping people interested"
you go outside and bring in NEW users to crypto.
not hanging out here flogging coin clones to the same old dwindling handful of us older crypto-fanatics.

FUD first & ask questions later™
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June 27, 2015, 04:04:41 AM
 #7

So what are their motives?

Assuming the Devs are competent, the motive is always to make money.
Anyone with actual talent and expertise expects to get paid... or get rich... or die trying.

The biggest, most transparent lie in the book = "I don't care about money". How noble.

So the "intrinsic problem with alts" is that getting paid for "intellectual property" has become vilified...
By the biggest scammers and thieves here... who are the ones trumpeting about "fair" this and that...
And once they pretty much cut the honest Devs out of the game... and can run their Mook Skinning Factories 24/7.

IP and copyright laws exist to protect productive inventors from parasitic scammers...
Too bad that the Bitcoin ecosystem has been engineered to be exactly backwards.

Wonder why BTC is only $250? All the talented Devs are working for banks/corporations on proprietary projects.
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June 27, 2015, 05:05:11 AM
 #8

You are totally on point about it being like a "real" business. I run GreenCoin as a non-profit and it's not even a real business, because the central premise of a business is to make money and I've dumped in $30k for 0 return. For me it's about the trying to tackle a global problem (carbon) in a new and different way. Really that's it, after a year+ on it and so little real traction, without that I would've jumped ship months ago.

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June 27, 2015, 11:29:17 AM
 #9

I am wondering what gets a developper of benefits maintaining and programming new features to a coin?

I mean if there was no premine and the dev could grab some coins at the start ok, but in the long run the
Value depends on the dev implementing new features keeping the folks interested in the coin.
(Website hosting, Marketing,Programming)
Its like a real business with expenses which need to be coverd. And dont forget the Dev need a income for a living too. Huh


I mean its just easier to invest in existing coins
So what are their motives?

assuming that there are no premine, scam, pump and dumps, and many other ways that devs are gaining money i can say that
not everyone developes or contributes to coding for money. this can be a hobby for someone who really loves cryptocurrencies and wants to contribute to the technology. and there is always donations.

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June 27, 2015, 03:42:25 PM
 #10

I am wondering what gets a developper of benefits maintaining and programming new features to a coin?

I mean if there was no premine and the dev could grab some coins at the start ok, but in the long run the
Value depends on the dev implementing new features keeping the folks interested in the coin.
(Website hosting, Marketing,Programming)
Its like a real business with expenses which need to be coverd. And dont forget the Dev need a income for a living too. Huh


I mean its just easier to invest in existing coins
So what are their motives?


your post is so full of shit it's not even funny.

for starters NO the devs don't deserve fuck all for their time and work.
guys if you can't afford the up start costs of starting a new global "currency" then don't do it.. period.
don't sit there and tell me you deserve a premine or a Million dollars.. cough cough BLOCKNET

and
Quote
Value depends on the dev implementing new features keeping the folks interested in the coin.

whaaat ? LOL  Roll Eyes

uhh son, the value lies with the currency being USED by humans.
the intrinsic inherint value of these things are mostly null.. nada.. zilch

I here noob coin cloner here wants to call himself a dev cause he got a Tut and ripped of some code from github
and now he wants to justify he needs a premine and a cash flow to keep people "interested"
oh yeah all that matters is you keep adding new features to a coin  Roll Eyes

jesus Christ wow..
it is so painfully crystal clear obvious most of you (so called "devs") are here to siphon money from people (while playing dumb about it)
So uhhhhhh who is paying Github ?
Seems to me all you coin cloners tacking on new features should be paying them a ton of money for the REAL product / service THEY provide.
hear them crying ?

edit:
oh and i'll give you some advice for success..
rather than being worried about "keeping people interested"
you go outside and bring in NEW users to crypto.
not hanging out here flogging coin clones to the same old dwindling handful of us older crypto-fanatics.

Don't pay any attention to Spoetnik. Nobody else does.

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June 27, 2015, 08:38:46 PM
 #11

@TheMystic
don't matter who ignores me I am just pointing out the obvious..

Did some guys premine 2% of the Canadian dollar then run around trying to convince people to use it afterwards ?

I don't think you guys realize what a currency is.
Crypto stocks and a working currency is not the same thing.

Like am I crazy here or what ? LOL
the word Altcoins.. as in Alternative coin (currency) to Bitcoin
you guys have made what 6 or 7,000 coins that are essentially clones
and you load up on them hoping the general public adopts them.. and why would they ?

If people want to play the stock market angle with Altcoins that is fine but it won't lead anywhere.. look around !

I can see it playing out as I said it would every step of the way year after year.. I called it all long ago.
This is predictable stuff going on here..

so yeah ignore me all you want.. the end game does not change.
And the big money big time players are looming and if Facebook rolls out a coin kiss your crappy Altcoins goodbye hahaha
The future is coming and will be embraced by all and the big companies out there will have the ability to reach the masses better
than us open source coin cloners could ever hope to.. the clock is ticking really.

edit:
I also want to remind you that many of the so called devs are 13 yr old kids who want to get paid for modifying open source code from Github.
And that I personally don't feel comfortable using a World Wide International Global CURRENCY created by little children.
When the Blocknet Million dollar cash grab was going on people posted pictures of the guys involved and they were pics of kids at school etc
I have a pic on my computer of teens having a water fight in a yard..
and THAT is your world wide currency starter / Business "Men"
These kids come here and butcher stock market jargon with IPO this and ICO that and "Foundation" this etc etc
Then you wonder why REAL ADULTS with large amounts of money around the world don't want to get involved with this ?
Nevermind the fact that if you buy coin no. 8,344 you will get dumped on for teen dev's coin no. 8,345

ignore me ?
you guys are getting ignored.. by the whole world LOL

better tack on some more wallet features to "keep it interesting" ahhahah

FUD first & ask questions later™
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June 28, 2015, 08:23:16 AM
Last edit: June 28, 2015, 08:39:22 AM by lordoliver
 #12

I am wondering what gets a developper of benefits maintaining and programming new features to a coin?

I mean if there was no premine and the dev could grab some coins at the start ok, but in the long run the
Value depends on the dev implementing new features keeping the folks interested in the coin.
(Website hosting, Marketing,Programming)
Its like a real business with expenses which need to be coverd. And dont forget the Dev need a income for a living too. Huh


I mean its just easier to invest in existing coins
So what are their motives?


your post is so full of shit it's not even funny.

for starters NO the devs don't deserve fuck all for their time and work.
guys if you can't afford the up start costs of starting a new global "currency" then don't do it.. period.
don't sit there and tell me you deserve a premine or a Million dollars.. cough cough BLOCKNET

and
Quote
Value depends on the dev implementing new features keeping the folks interested in the coin.

whaaat ? LOL  Roll Eyes

uhh son, the value lies with the currency being USED by humans.
the intrinsic inherint value of these things are mostly null.. nada.. zilch

I here noob coin cloner here wants to call himself a dev cause he got a Tut and ripped of some code from github
and now he wants to justify he needs a premine and a cash flow to keep people "interested"
oh yeah all that matters is you keep adding new features to a coin  Roll Eyes

jesus Christ wow..
it is so painfully crystal clear obvious most of you (so called "devs") are here to siphon money from people (while playing dumb about it)
So uhhhhhh who is paying Github ?
Seems to me all you coin cloners tacking on new features should be paying them a ton of money for the REAL product / service THEY provide.
hear them crying ?

edit:
oh and i'll give you some advice for success..
rather than being worried about "keeping people interested"
you go outside and bring in NEW users to crypto.
not hanging out here flogging coin clones to the same old dwindling handful of us older crypto-fanatics.

wow, you didn't understand the main point of the post. interesting...
I try to lead you the way. So for example, if you make a coin without any premine and invest your time in there. you believe in it and implement nice innovations. I am NOT talking of shitty clones but really NEW things.

Lets say we mine it and you only have a small computer but I have the mega blast and mine 10 times of your coins because I also think you make that very good. The coin market cap will grow and I hold 10 times more money although I did a shit and you are the innovator.
Do you think this is fair? Why should you stick to your coin? Would you think about new innovations, bugfix and try to promote it? (I hope, that you understand, that a coin doesn't promote or bugfixes itself and users don't promote normally...)
Of course your coins value would grow as well, but its not that much, so that you earn maybe more collecting returnable bottles...

Don't you really see the point?
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June 28, 2015, 10:31:00 AM
 #13

That is what crowdfunding and venture capital and such are for.

Or you partner up with a major mining company, or with an ASIC maker to release ASICs unique to your coin when the coin is released or whatever.

It is probably also why "IPO" scams proliferated for a while.

If at all possible it might be better to use an existing, cheap coin to build on instead of starting a new one, because you can buy up oodles of it quietly then release an upgrade / new version of it that incorporates your awesome innovation.

People made a lot of profit CPU-mining BBQcoin for a year while the trolls ran around claiming it was dead, and they didn't even innovate at all, they simply turned back on the publicity/websites/etc: announced it was in fact not dead at all.

You could for example quietly CPU-mine Tenebrix, Fairbrix, or even GeistGeld for a year or few years while you work in secret in your mom's basement designing the new improved version, and the better your new improved version is the more eagerly all the folks who quietly CPU-mine alongside you (so as not to drive up the difficulty for everyone by using a GPU, that is how the folks CPU-mining BBQcoin kept their costs down, being gentlefolk by not causing a hash-rate-war that would increase electricity use for them all) or who already hold some of the coin will jump on your bandwagon when you publish something utterly different but on whose blockchain all their coins are waiting for them.

(Look at protoshares / Bitshares PTS / Bitshares / endless stream of DACs... All you need do is make sure all the already existing coins are present in your new thing when you release the new thing...)

Tenebrix might even be ideal, because on IRC to this day its channel still lurks, announcing that some day all kinds of awesome features will be added. Go tell them about your awesome innovation(s) and maybe they will even give you some of the pre-mine on top of all the coins you can CPU-mine for virtually nothing for pretty much as long as you choose...

-MarkM-

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June 28, 2015, 10:41:19 AM
 #14

I am wondering what gets a developper of benefits maintaining and programming new features to a coin?

I mean if there was no premine and the dev could grab some coins at the start ok, but in the long run the
Value depends on the dev implementing new features keeping the folks interested in the coin.
(Website hosting, Marketing,Programming)
Its like a real business with expenses which need to be coverd. And dont forget the Dev need a income for a living too. Huh


I mean its just easier to invest in existing coins
So what are their motives?


your post is so full of shit it's not even funny.

for starters NO the devs don't deserve fuck all for their time and work.
.......

@TheMystic
don't matter who ignores me I am just pointing out the obvious..
...............
so yeah ignore me all you want.. the end game does not change.


Dude i made up a hypothesis and a Question.
There was absolutely nothing you could interpret as funny.
Only because you disagree with the initial theory, doesn't make it "full of shit".

Behave like an adult and skip the fucks,shits and other insults.
I am here for exchanging arguments and ideas not getting eyecancer from american low-minded writings Cheesy.
As i see you can set up arguments, so skipping the "shit" should not be a big deal for you.

Otherwise you get ignored by the most people, the rational and the irrational.
If you dont want to waste your time, let the emtions by side and discuss like a pro Smiley.

greetings





YOBIT IS SCAM , YOBIT IS SCAM , YOBIT IS SCAM meine Steuerdatei:
https://bitcointalk.org/index.php?topic=612741.msg19244732#msg19244732
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June 28, 2015, 11:39:53 AM
 #15

There are absolutely no motives for simple copy coins. That's why they will fail. Devs of coin which bring something new and special to the crypto world (and yes there are some such altcoins) will always have motives to bring to coin forward for reasons of idealism or value increase.

So what are their motives?
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June 28, 2015, 11:59:10 AM
 #16

That is what crowdfunding and venture capital and such are for.

Or you partner up with a major mining company, or with an ASIC maker to release ASICs unique to your coin when the coin is released or whatever.

It is probably also why "IPO" scams proliferated for a while.

If at all possible it might be better to use an existing, cheap coin to build on instead of starting a new one, because you can buy up oodles of it quietly then release an upgrade / new version of it that incorporates your awesome innovation.

People made a lot of profit CPU-mining BBQcoin for a year while the trolls ran around claiming it was dead, and they didn't even innovate at all, they simply turned back on the publicity/websites/etc: announced it was in fact not dead at all.

.................................
-MarkM-


Yes i agree. I think BBQ is the perfect option for that, because of its age and presents at exchanges.
BBQ has also proven its "immortality" Smiley

YOBIT IS SCAM , YOBIT IS SCAM , YOBIT IS SCAM meine Steuerdatei:
https://bitcointalk.org/index.php?topic=612741.msg19244732#msg19244732
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June 28, 2015, 01:11:36 PM
 #17

@TheMystic
don't matter who ignores me I am just pointing out the obvious..

Did some guys premine 2% of the Canadian dollar then run around trying to convince people to use it afterwards ?

I don't think you guys realize what a currency is.
Crypto stocks and a working currency is not the same thing.

Like am I crazy here or what ? LOL
the word Altcoins.. as in Alternative coin (currency) to Bitcoin
you guys have made what 6 or 7,000 coins that are essentially clones
and you load up on them hoping the general public adopts them.. and why would they ?

If people want to play the stock market angle with Altcoins that is fine but it won't lead anywhere.. look around !

I can see it playing out as I said it would every step of the way year after year.. I called it all long ago.
This is predictable stuff going on here..

so yeah ignore me all you want.. the end game does not change.
And the big money big time players are looming and if Facebook rolls out a coin kiss your crappy Altcoins goodbye hahaha
The future is coming and will be embraced by all and the big companies out there will have the ability to reach the masses better
than us open source coin cloners could ever hope to.. the clock is ticking really.

edit:
I also want to remind you that many of the so called devs are 13 yr old kids who want to get paid for modifying open source code from Github.
And that I personally don't feel comfortable using a World Wide International Global CURRENCY created by little children.
When the Blocknet Million dollar cash grab was going on people posted pictures of the guys involved and they were pics of kids at school etc
I have a pic on my computer of teens having a water fight in a yard..
and THAT is your world wide currency starter / Business "Men"
These kids come here and butcher stock market jargon with IPO this and ICO that and "Foundation" this etc etc
Then you wonder why REAL ADULTS with large amounts of money around the world don't want to get involved with this ?
Nevermind the fact that if you buy coin no. 8,344 you will get dumped on for teen dev's coin no. 8,345

ignore me ?
you guys are getting ignored.. by the whole world LOL

better tack on some more wallet features to "keep it interesting" ahhahah

Link to these kinds of pictures ? I got interested.
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