Littleshop (OP)
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Activity: 1386
Merit: 1003
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May 05, 2013, 08:33:51 PM |
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I have lost track there are now so many alt-coins. Now there is a new catagory, joke coins. We have BBQ, Junk and YAC at least. Not to say that many of the others are not jokes either as some are clearly just get rich scams for the creator. If you have been around here for a while you will notice that ALMOST all alt-coins go to a minimal market cap after three months. The only exceptions are litecoin and Namecoin (just barely).
So why is there all of this interest? Who is buying them? Do people start buying them to set a price, then attempt to get out? I was able to mine a bunch of feathercoins and sell them for more BTC then I would have had if I just mined BTC otherwise. Someone is taking a loss. At the end of six months (or less now that there are so many) most of these will be worthless.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Nolo
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May 05, 2013, 08:36:58 PM |
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I have lost track there are now so many alt-coins. Now there is a new catagory, joke coins. We have BBQ, Junk and YAC at least. Not to say that many of the others are not jokes either as some are clearly just get rich scams for the creator. If you have been around here for a while you will notice that ALMOST all alt-coins go to a minimal market cap after three months. The only exceptions are litecoin and Namecoin (just barely).
So why is there all of this interest? Who is buying them? Do people start buying them to set a price, then attempt to get out? I was able to mine a bunch of feathercoins and sell them for more BTC then I would have had if I just mined BTC otherwise. Someone is taking a loss. At the end of six months (or less now that there are so many) most of these will be worthless.
BBQ coin is one of the oldest coins still around. You discredit you're entire argument by lumping BBQ coin in with Junk and YAC. |
Charlie Kelly: I'm pleading the 5th. The Attorney: I would advise you do that. Charlie Kelly: I'll take that advice under cooperation, alright? Now, let's say you and I go toe-to-toe on bird law and see who comes out the victor? The Attorney: You know, I don't think I'm going to do anything close to that and I can clearly see you know nothing about the law.
19GpqFsNGP8jS941YYZZjmCSrHwvX3QjiC
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justabitoftime
Full Member
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Activity: 154
Merit: 100
CoinTropolis
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May 05, 2013, 08:41:56 PM |
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I have lost track there are now so many alt-coins. Now there is a new catagory, joke coins. We have BBQ, Junk and YAC at least. Not to say that many of the others are not jokes either as some are clearly just get rich scams for the creator. If you have been around here for a while you will notice that ALMOST all alt-coins go to a minimal market cap after three months. The only exceptions are litecoin and Namecoin (just barely).
So why is there all of this interest? Who is buying them? Do people start buying them to set a price, then attempt to get out? I was able to mine a bunch of feathercoins and sell them for more BTC then I would have had if I just mined BTC otherwise. Someone is taking a loss. At the end of six months (or less now that there are so many) most of these will be worthless.
BBQ coin is one of the oldest coins still around. You discredit you're entire argument by lumping BBQ coin in with Junk and YAC. Fantastic, the market will eventually purge what's not needed. I can't speak to why OTHERS collect them, here's mine: Bitcoin - Straight investment Litecoin - In case things go a bit crazy with the ASICs -- investment Feathercoin - I'm bringing my resources (quite a bit) to help with long-term adoption ChinaCoin - This is my gamble coin I have a few thousand coins of the others 'just in case'. I'm only applying my time to Feathercoin. |
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Littleshop (OP)
Legendary
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Activity: 1386
Merit: 1003
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May 05, 2013, 08:57:09 PM |
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I have lost track there are now so many alt-coins. Now there is a new catagory, joke coins. We have BBQ, Junk and YAC at least. Not to say that many of the others are not jokes either as some are clearly just get rich scams for the creator. If you have been around here for a while you will notice that ALMOST all alt-coins go to a minimal market cap after three months. The only exceptions are litecoin and Namecoin (just barely).
So why is there all of this interest? Who is buying them? Do people start buying them to set a price, then attempt to get out? I was able to mine a bunch of feathercoins and sell them for more BTC then I would have had if I just mined BTC otherwise. Someone is taking a loss. At the end of six months (or less now that there are so many) most of these will be worthless.
BBQ coin is one of the oldest coins still around. You discredit you're entire argument by lumping BBQ coin in with Junk and YAC. Actually I really didn't really make an 'argument'. And the joke is on you if you think that BBQ is a real coin. I am more wondering WHY people want them. If it is for fun, great! Justabitoftime helped actually answer my question with his comments. |
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Nolo
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May 05, 2013, 08:58:37 PM |
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I have lost track there are now so many alt-coins. Now there is a new catagory, joke coins. We have BBQ, Junk and YAC at least. Not to say that many of the others are not jokes either as some are clearly just get rich scams for the creator. If you have been around here for a while you will notice that ALMOST all alt-coins go to a minimal market cap after three months. The only exceptions are litecoin and Namecoin (just barely).
So why is there all of this interest? Who is buying them? Do people start buying them to set a price, then attempt to get out? I was able to mine a bunch of feathercoins and sell them for more BTC then I would have had if I just mined BTC otherwise. Someone is taking a loss. At the end of six months (or less now that there are so many) most of these will be worthless.
BBQ coin is one of the oldest coins still around. You discredit you're entire argument by lumping BBQ coin in with Junk and YAC. Actually I really didn't really make an 'argument'. And the joke is on you if you think that BBQ is a real coin. I am more wondering WHY people want them. If it is for fun, great! Justabitoftime helped actually answer my question with his comments. You did make an argument. You are here to advance an agenda. Your dislike of altcoins because of your irrational fear they somehow depreciate bitcoins (and possibly even litecoins). You posted this thread in an attempt (albeit futile) to try to discourage potential investors of altcoins from doing so. Your "questions" were rhetorical. |
Charlie Kelly: I'm pleading the 5th. The Attorney: I would advise you do that. Charlie Kelly: I'll take that advice under cooperation, alright? Now, let's say you and I go toe-to-toe on bird law and see who comes out the victor? The Attorney: You know, I don't think I'm going to do anything close to that and I can clearly see you know nothing about the law.
19GpqFsNGP8jS941YYZZjmCSrHwvX3QjiC
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Tittiez
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May 05, 2013, 09:03:25 PM |
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Yep, you lost me when you threw bbqcoin in with the other two.
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Littleshop (OP)
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Merit: 1003
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May 05, 2013, 09:51:53 PM |
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Yep, you lost me when you threw bbqcoin in with the other two.
So where are BBQ coins traded? |
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Tittiez
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May 05, 2013, 10:12:19 PM |
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Yep, you lost me when you threw bbqcoin in with the other two.
So where are BBQ coins traded? is working on an exchange. https://virexa.com/ is working on an exchange. |
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Littleshop (OP)
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Activity: 1386
Merit: 1003
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May 05, 2013, 10:58:15 PM |
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Yep, you lost me when you threw bbqcoin in with the other two.
So where are BBQ coins traded? is working on an exchange. https://virexa.com/ is working on an exchange. I don't see it at bter.com: "Bter.com - Bitcoin Exchange Platform, supporting BTC, LTC, PPC, TRC, FRC, FTC " Virexa.com is a test exchange only. "THIS IS A TEST SYSTEM This is a test system, all values here are ficticious, you are not able to deposit or withdraw any amounts. The purpose is solely for testing. We reset the database on a daily basis, i.e. your users will be deleted. " |
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Walter Rothbard
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May 05, 2013, 11:14:52 PM |
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Yep, you lost me when you threw bbqcoin in with the other two.
So where are BBQ coins traded? BBQcoins are traded at RBCex |
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Littleshop (OP)
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Activity: 1386
Merit: 1003
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May 06, 2013, 04:20:13 AM |
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Yep, you lost me when you threw bbqcoin in with the other two.
So where are BBQ coins traded? BBQcoins are traded at RBCexI would not call this an exchange either. This is a spreadsheet. It is not automated. |
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GSnak
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May 06, 2013, 01:36:37 PM |
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I have a few thousand coins of the others 'just in case'. I'm only applying my time to Feathercoin.
Well I hope you got out while the gettin' out was good. |
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justabitoftime
Full Member
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Activity: 154
Merit: 100
CoinTropolis
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May 06, 2013, 01:47:04 PM |
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I have a few thousand coins of the others 'just in case'. I'm only applying my time to Feathercoin.
Well I hope you got out while the gettin' out was good. I heard that same statement back when: BTC was at $51 LTC was at 60 cents I'm doing quite well, thanks!  |
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Littleshop (OP)
Legendary
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Activity: 1386
Merit: 1003
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May 06, 2013, 10:03:13 PM |
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I have a few thousand coins of the others 'just in case'. I'm only applying my time to Feathercoin.
Well I hope you got out while the gettin' out was good. I heard that same statement back when: BTC was at $51 LTC was at 60 cents I'm doing quite well, thanks! Feathercoin (while I do not consider it a joke coin) does not bring much to the table that Litecoin has not already brought. In the alt-coin space most flop. People still buy them 'on the way down' but in the end they usually get forgotten. Feathercoin does not have a good re-target system and it is showing. It is slower then bitcoin right now even though it is supposed to be faster, and will not re-target for at least eight days. |
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Barnacle_Ed
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May 06, 2013, 10:14:49 PM |
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Funny thing about that whole Jokecoin thing...It's something that I've put on hold for the moment due to my day job getting extremely busy. Ironic how it swiftly turned into a "real thing" shortly after I stopped actively working on things. However, I plan on making a chain for !BTC sometime soon, if only to poke fun at all these new altchains.
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computerparts
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May 06, 2013, 11:23:35 PM |
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the biggest joke of them all is the usd coin  |
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Tittiez
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May 06, 2013, 11:26:45 PM |
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I don't see it at bter.com: "Bter.com - Bitcoin Exchange Platform, supporting BTC, LTC, PPC, TRC, FRC, FTC " Virexa.com is a test exchange only. "THIS IS A TEST SYSTEM This is a test system, all values here are ficticious, you are not able to deposit or withdraw any amounts. The purpose is solely for testing. We reset the database on a daily basis, i.e. your users will be deleted. " Notice how I said "is working on an exchange" The actual bter exchange is running, but hidden from the navigation. I guess it's still sort of beta. http://bter.com/trade/bqc_btc |
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