The Truth Behind New Altcoins

[spartak_t]

I'd say that about 15-20 coins can be considered as "good".

There was mention in the original post that even some of the "repped" altcoins might also be scams. If someone were to ask you which ones they are, on the top of your head, which coins will you mention?

Since you said that there might be only 15 - 20 coins that can be considered as good then you might have a big idea on who the bad ones are. Even the "repped" ones.

I've stopped to follow developments on quite a few coins, since I'm not trading for quite some time now, but I'd say:

Bitcoin, Litecoin, Peercoin, BlackCoin, Counterparty, Primecoin, vTorrent, VeriCoin, Viacoin, Myriad, Noble. I was SFR's fan as well, but sadly developer kinda left it.

There are also a lot of "under the radar" coins, which still have pretty active development.

P.S. I am only mentioning coins in which development team (as far as I know) was never involved in manipulation of the market. Vericoin was pumped and dumped at some point, but I'm not sure if the dev's has anything to do with that.

[dearbesz1219]

I'm sure you are an alternate account of one long time member here,it's impossible for a newbie to know this reality,as a member of this forum with many altcoins ready to scam you ,you need to be aware of what are the legit and scam sites,not all are scam sites and not all are legit also.

Indeed, it is true that many of the altcoin in crypto currency are really shitcoin,  there are few legit altcoin that we can found in this sites. That's we need to be very wise in choosing investing the coin for us not to become a victim of the scammers.

[Spoetnik]

I'm sure you are an alternate account of one long time member here,it's impossible for a newbie to know this reality,as a member of this forum with many altcoins ready to scam you ,you need to be aware of what are the legit and scam sites,not all are scam sites and not all are legit also.

Indeed, it is true that many of the altcoin in crypto currency are really shitcoin,  there are few legit altcoin that we can found in this sites. That's we need to be very wise in choosing investing the coin for us not to become a victim of the scammers.

Wise ? "investing" ? In Altcoins which you all ADMIT are MOSTLY scammy ?
is that "wise" ?

Fall victim you say ?
to what ? Losing money ?

News Flash it's not about money or investing or profits or ROI's

It's about "supporting" a crypto-currency.

..the fact you played the due-diligence retort again shows me you are a peon.
You guys keep saying that but rarely say how..
On rare occasions you say.. Road-maps / Whitepapers + Active dev's etc.
And the scammers are watching dumb fucks.. they know what to do to make it look legit to IDIOTS
Because you keep telling them.

The predators are far smarter than you "investors"
You are all just suckers.. whale food.
If they want your money they will have it period.

Most of you are kids or morons or worse foreigners who don't know English.
And many of you can but don't read what is said or even heed warnings.
Cried FUD lately ?
Seen any broken English comments or topic titles ? ..try half of them 24/7.
Me haz Doge i iz China and am much winnarz wit da Ethereumz !!!111

Hey morons guess what ?
You can NOT play a game fairly when the game is rigged.

Regulations ? Laws ? Where ? they make them up as they go along.. to ensue they ALWAYS win !
Such as Forums owners.. Exchanges.. Coin Dev's.. they can simply rob you blind or set you up for a con when ever they want.. and they DO.. regularly as you all have admitted for 3 pages.
So invest wisely ?
in what ?
Picking which stupid scam coin is best ?
yeah.. the bad one or the badder one HAHAHAHHA

You profiteers are exhaustingly stupid and you get what you deserve.
You shouldn't be here in the first place "investors"
People should be in Crypto to try and support a currency not profit off them.

So when ALL of you showed up here to make a buck off of shitcoins.. any that is hyped up.
Then you are effectively turning the entire Crypto scene into 1 massive giant ponzi / pyramid scheme.
..on centralized lawless crooked penny stocks exchange business's that add shitcoins because of user demand and because it draws in more retard greedy shitheads into the govt controlled ponzi.
The Exchanges that collect your ID or coins that use Github that complies with US govt requests.

Which apparently is perfectly fucking fine for you loud mouth crypto rebels chanting down with the govt and free Satoshi and long live Free Market and viva la FIAT DOLLAR $$$

You are all full of fucking shit.. you say 1 thing and spend all your time doing the opposite.
Coinbase adds an ICO scam called Ethereum and ignores Litecoin then rats out the KickAssTorrents owner to the US govt so he gets arrested and you all complain ? Boycott the shit exchange BUSINESS ?
Fuck no.. you don't care.
You don't care 1 bit that the exchange business that exists solely to make money via "user demand" is collecting all your activity and identity info then routinely handing it off to US govt investigators.. as Cryptsy admitted to doing.
Nope.. you just keep chanting NO LAWS FREE MARKET LONG LIVE PROFITS !!!!

What a fucking joke  

It's not about winning or losing money at the shitcoin lottery penny stocks free market pyramid/ponzi scene.
It's about support & adoption of a CURRENCY
So to a REAL supporter it may not not even matter if you lost money..
He'd know he tried.. to support a currency attempt.
Hell i have and had my coins delisted all over and kept them to this day even though profiteers dumped ahead of time.
Because i am / was a project supporter.. not a little shithead profiteer hoping to make a quick buck.. off... anything.

Fall victim you say there guy ?
To what losing money ?

You already lost you just don't know it yet.
..because you don't get it or do but are corrupt / greedy and there for doomed to failure.
The result is unavoidable.

You scammy ass bullshitting losers here define a shitcoin or a scam as.. one that loses you money.
NOT BECAUSE IT IS DESIGNED AND FUNCTIONS AS A SCAM.

A shitcoin scam that makes you a large profit is not a scam in your books..
Because you are all sleazy bullshitting frauds.. talking shit as usual.

[iamnotback]

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.

The reason that most of the altcoins just copy an existing code base and tweak a few parameters thus really not a challenge to the established leader(s), i.e. Bitcoin:

https://download.wpsoftware.net/bitcoin/alts.pdf

It is really, really hard folks. One little detail wrong and poof ... your money is gone...

[mace15]

Thanks for posting it here. This is nice information
to everyone who doesnt know all about new altcoins.
Literally, some new altcoins are scam coins, theyre
giving a trap to traders. At first, that new coins will
active in the market on the first day of release on
the exchange, like their is buying/selling orders, then
the following day a shit coin already. Like on the
XMO, NCL, look what happen now, and scam coins
already.

[Navihawk]

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

OP needs to play EvE Online for at least six months to understand this rule.

[Spoetnik]

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

OP needs to play EvE Online for at least six months to understand this rule.

Irrelevant stupid cliche.

I got REALLY sick of hearing that in Crypto ..years ago.

[Amadues]

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

OP needs to play EvE Online for at least six months to understand this rule.

Why "EvE" online for understand this rule? Can you explain better?

Of course, "invest what you can afford to lose" is the same mantra people are saying when talking about ponzi scheme . The answer is no! You don't need to invest anything in a fucking service that doesn't pay and could turn easily in a scam!

[Navihawk]

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

OP needs to play EvE Online for at least six months to understand this rule.

Why "EvE" online for understand this rule? Can you explain better?

Of course, "invest what you can afford to lose" is the same mantra people are saying when talking about ponzi scheme . The answer is no! You don't need to invest anything in a fucking service that doesn't pay and could turn easily in a scam!

Why do i say EvE? Because, it's riddled with scammers, ponzi schemes, and the economy and other players can kill your wallet faster than you can say "warp away", all because you either were duped into trading a commodity that was going to get dumped or you were flying something that you couldn't even afford to buy again with your wallet's balance.

[Amadues]

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

OP needs to play EvE Online for at least six months to understand this rule.

Why "EvE" online for understand this rule? Can you explain better?

Of course, "invest what you can afford to lose" is the same mantra people are saying when talking about ponzi scheme . The answer is no! You don't need to invest anything in a fucking service that doesn't pay and could turn easily in a scam!

Why do i say EvE? Because, it's riddled with scammers, ponzi schemes, and the economy and other players can kill your wallet faster than you can say "warp away", all because you either were duped into trading a commodity that was going to get dumped or you were flying something that you couldn't even afford to buy again with your wallet's balance.

These money are fake money (only for the game) or you can exchange for real cash?
Maybe people create this fake situation just for trolling or with playing purpose (ps I never play / heard about EvE).

BTW I think its a natural instinct for the human scam others human.
Every time, there is just the stupid idea to get an advantage from the problem of another human. Just it.

[jackg]

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.
??

There's also new coins that are made and released but have edited code that instead hides viruses.
The main altcoins that actually are useful have very similar sizes of wallet normally as they all use the Bitcoin one and just change the nodes and servers it points to.
Thieves don't pay to get their accounts back, they're merely left unblocked and just given red trust by other users instead (they don't really block people for scam - though they should).

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

OP needs to play EvE Online for at least six months to understand this rule.

Why "EvE" online for understand this rule? Can you explain better?

Of course, "invest what you can afford to lose" is the same mantra people are saying when talking about ponzi scheme . The answer is no! You don't need to invest anything in a fucking service that doesn't pay and could turn easily in a scam!

Why do i say EvE? Because, it's riddled with scammers, ponzi schemes, and the economy and other players can kill your wallet faster than you can say "warp away", all because you either were duped into trading a commodity that was going to get dumped or you were flying something that you couldn't even afford to buy again with your wallet's balance.

These money are fake money (only for the game) or you can exchange for real cash?
Maybe people create this fake situation just for trolling or with playing purpose (ps I never play / heard about EvE).

BTW I think its a natural instinct for the human scam others human.
Every time, there is just the stupid idea to get an advantage from the problem of another human. Just it.

It is mainly human and community nature to scam and it happens everywhere (not just here). The fact that this is a place full of scam is quite weird and shows the issue of anonymity with it.

[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.

[JasonXG]

I jave been wanting to know what has been I with these really crap but not just crap but very bad and no thirst or drive to do well and what something they create go. They have no motivation and either just give up or just run.

What really makes no sense is these Debs that start a coin and almost immediately leave.look at crabcoon for a perfect example. Amped up Dev. That attitude lasted like 5 days and we never hear from him again. I do not understand. Why put all that effort and work into something then give up ? Giving up is pathetic and only losers give up. These devs dont even have self confidence at all.

The next thing is all these coins claiming to be "innovative" and different. When they just a close so they actually talking crap. Then you get those that say things like "oh this is a gaming coin" really ? Then they say their coin bring new innovations to in game monotanization which obviously is crap since there barely any game coins but no they tell you their coin will be used in games and all over the place with massive promises. Of you fall fpr crap like that you are to blame for being so stupid. Only buy coins from devs who stick around. Doesnt habe to be there best coon bit of the support drops the coin falls.

[bbc.reporter]

I'd say that about 15-20 coins can be considered as "good".

There was mention in the original post that even some of the "repped" altcoins might also be scams. If someone were to ask you which ones they are, on the top of your head, which coins will you mention?

Since you said that there might be only 15 - 20 coins that can be considered as good then you might have a big idea on who the bad ones are. Even the "repped" ones.

I've stopped to follow developments on quite a few coins, since I'm not trading for quite some time now, but I'd say:

Bitcoin, Litecoin, Peercoin, BlackCoin, Counterparty, Primecoin, vTorrent, VeriCoin, Viacoin, Myriad, Noble. I was SFR's fan as well, but sadly developer kinda left it.

There are also a lot of "under the radar" coins, which still have pretty active development.

P.S. I am only mentioning coins in which development team (as far as I know) was never involved in manipulation of the market. Vericoin was pumped and dumped at some point, but I'm not sure if the dev's has anything to do with that.

Out of the coins you mentioned I could see that bitcoin, litecoins and XCP are the only worthy ones to say as "good". With XCP it is pushing it but I will give it the benefit of the doubt because it used proof of burn. There rest will all go down and become forgotten altcoins like what we are seeing now. At what place are most of those coins in coinmarketcap.com? They are nowhere to be seen in the top 10.

[Azael]

People who engage in the IPO market only have themselves to blame. They give money to scammers and actively promote these dubious schemes and only complain when things go south but if they can sell their bag to someone else it is OK. If you want to trade then hit up Poloniex: The majority of IPOs are confidence games.

[iamnotback]

The majority of IPOs are confidence games.

Money only has value because of public confidence.

[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.

[Mvaporis1961]

In my opinion, One of the truth behind every new altcoins that has been created is always connected to money. Most of them are just made by their developers is to earn money, Most of the developers of any sheyt coins are active or telling a lot of promises on the first week or months of the coin and after he earn a decent amount of bitcoin, he will just leave the coin and the who will suffer in the last are those innocent investors who believed on that particular coin.

[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.

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.

[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!