Greetings all. Long time lurker, first time poster.
The question I'd like to pose to the noobs and 'heros' alike is this: did we come to the party too late?
Now that a new coin auto-generated for you in a matter of minutes for less that $200 at
http://coingen.io/, are alt coins still something one should invest time/money/development effort into?
With the exception of a precious few, all of the 60+ day charts seem to follow the same scheme. Its not accident that they're almost all front-loaded/premined/instamined, whatever you want to call it. Even if there is an announcement, it only gives a few days notice at best. When a new coin is generally accepted by this community, the free market mindedness takes a back seat to this forum - where users routinely call for price fixes.
After seeing bitcoin take off this fall, I came here thinking that cryptographic currency might someday be a great equalizer after-all. That might still be true, but the whole thing just smells of scam right now. If there is a future in alt coins, there has to be more supply and some redeeming value other than my GPU/ASIC burned up some kwh. The coins based on primes or some other social purpose would seem to make more sense ecologically, but they all have the same code-smells or are closed source, private ventures.
It's no wonder why 'Satoshi' bailed on this carnival, if he was an individual at all - and not the Fed itself.
I didn't mean for this to be an essay, but as a software engineer with a libertarian bent, who's worked in banking/insurance for over a decade I have to hold my head in my hands and sigh when looking at the last three days worth of posts (or ANN's). If the dimecoin apology (
https://bitcointalk.org/index.php?topic=399300.msg4317908#msg4317908) was the icing on the cake. Then the cherry on top would have to be the dogecoin change management request that came in the form of a reddit 'PSA' (
https://bitcointalk.org/index.php?topic=399300.msg4317908#msg4317908). Is this the model for how to zero-out a coin before a swoop?
From where I sit, the inner-party has zero accountability and little ethical concern, mind the absence of inherent responsibility to the community. This includes the exchanges whom look the other way while source disappears from github, a build gets released and then the source resurfaces after the fact. The few sr/hero folk here that's I've seen speak up here seem to do it out of both sides of their mouth (see Hazard's alt coin creation 'service':
https://bitcointalk.org/index.php?topic=208578.0). Sorry Charlie, but that racket is done now too.
If Ken 'vaporware' Nelson is correct and Satoshi is a math Ninja/Sensei (btw: Ken's racist monologue stopped shy of calling him an oriental or saying 'your people' or 'haaaa-soooo hahhhh-sooo'), then Sensei Satoshi must really be getting a kick out of this experiment over the last few days. Maybe he's busy coding a revolutionary automated faucet bucket collector thingy. I can't even fathom it. Any real, original, genuine thoughts, besides 'reserved'?
Also, in the spirit of Ken Nelson, what do 'you people' call the crypto coin economy here anyhow? Wall street.. main street.. you need to pick a ______ street, and set the tone (or: 'coin' the term) before the real bashing of this douche-baggery begins in the papers & on CNBC.
God speed.
