A warning about Alt-Coins

[guybrushthreepwood]

So what's the next new coin to mine? I tried to go mooncoin right from the beginning when it was released.... that was a big letdown
Now I'm back on middlecoin until I find a new coin announcement.

We pre-launched NutCoin yesterday, you can mine it with a laptop CPU!

What's Nutcoin about/for exactly?

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[danlm12]

So what's the next new coin to mine? I tried to go mooncoin right from the beginning when it was released.... that was a big letdown
Now I'm back on middlecoin until I find a new coin announcement.

We pre-launched NutCoin yesterday, you can mine it with a laptop CPU!

What's Nutcoin about/for exactly?

Ditto that.  What is a Nutcoin?  Or is this a joke?  I am mining mooncoin and particles at the moment.  Both brand new.   If they develop value, that would be cool.

Anyone have thoughts about mooncoin or particles?

Thanks

[ctan75]

Any chance we can identify those alt coins that are potentially scams/wallet stealers?  Might be very helpful if we can post it on this board.  I'm a newb btw and I intend to make good use of this board.

[okaynow]

Any chance we can identify those alt coins that are potentially scams/wallet stealers?

+1

[ADcoin.me]

alt coins can become useful, I think, if people start accepting them for services or goods. That's all that is missing.

That's the whole point of bitcoin isn't it? that's nothing different, alt coins could only become useful if they add something useful, that simple.

[thefast]

Hi,

new to this forum, and to the crypto currency-world in general.
I've been browsing around, trying to find an answer to this, feel free to tell me off if I haven't looked hard enough, being a newbie and all ^^

So, all these giveaways and easy to get altcoins that are posted on this forum, what do I have to do to retrieve correct addresses to apply for the hand outs?

Is it necessary to download software for each coin, to get a wallet address, or is there some service out there able to generate different wallets on one account?

I've been looking at some of the altcoin giveaways, and it seems tempting, of course, with these freebies. But it seems very tedious and dangerous to download software for each different currency. So far I could only see .exe files as well, with no online wallet alternatives.

So.. just wondering if there is some service that I don't know of, with online wallets for a bunch of currencies, or if the idea is to download software for each new currency?

[jedimaster]

Any chance we can identify those alt coins that are potentially scams/wallet stealers?  Might be very helpful if we can post it on this board.  I'm a newb btw and I intend to make good use of this board.

At first we should ignore all premined things.

Also, It's would be great, If someone give me rights to post in another boards. Thanks.

[ADcoin.me]

Everyone can make an alt coin nowadays right? There are some quite detailed guides out there.

[tazmanrising]

As a software developer, I typically write software for the Microsoft Windows platforms  (.net  c#)  and some other languages that work on linux/unix platforms , but I'm really glad that Microsoft Windows has a monopoly otherwise trying to code for 1,000 operating systems would be pretty insane.

One can argue that the java,php,python etc.. can be can done on all the flavors of linux and unix and still work as they have a common OS structure thus just because there are dozens of flavors of linux doesn't affect the ability to run various software desktop and web that are built to run on these platforms.

The reason I bring this analogy up is just thinking about the endless amount of coins getting made.   It seems that Bitcoin will dominate for quite some time and 2014 and 2015 ,  will Bitcoin his $10,000 / USD ,  there is always the talk about how to deal with the fractions of worth. 

I use google news on my iphone and i watch /read all the news headlines that is pulls daily on bitcoin.  Dogecoin certainly hit the news.  Will it ever surpass bitcoin,  the name itself just makes it a joke.  I like it, it is funny but what future does it hold?    I recently went to coinedup and got  TIPS  which is Fedora Coin ,  It is nice to buy something for so cheap and hope for it to go up along with mining for coins.

Will Bitcoin go up dramatically in value in 2014 or down a lot?
Will the Litecoin, namecoin, peercoin  shoot up a ton in value?   I hope so..
Ripple -- interesting ...

I do think some coins have good names    WorldCoin, EarthCoin ....  those just seems like great names for the long run.....

DevCoin and Quark are pretty neat, but at what point will these fizzle , or find their niche etc...

[Hammy]

Almost all of the alt-coins out there are going to be a waste of time.  They're being created to take advantage of people who get super excited about different things and then get pumped and dumped.

Be careful about wasting time with too many alt coins.

Be careful about downloading files, seems like there's plenty of wallet stealers around hidden as alt coin miners.
Seen some more of this recently, so wanted to highlight the point.

Here's some good info from later in the thread:

1) Don't just trust the status of a member, anyone can write 500 posts and be a hero member in a short period. This just means that he invested some time on his membership. He can always decide that a profitable scam will be a good payment for his time.
2) Never deal with anyone without doing a search in the forum with his nickname, in order to check if he has scam accusations.
3) Ask for his coin address and always search it on blockchain.info or www.cryptocoinexplorer.com to verify if his address has the amounts he is claiming.
4) Be very suspicious about proposals well under market price or if he accepts your proposal under market price with no negotiation.
5) Look for the reputation of the member (his successful trades, in the form of vouches from the other party on the deal).
6) Even if he has some reputation, never send all the money in one transfer: send one first very small tranche (0.1 btc might be a good start) and wait for his payment. Send a second little higher tranche and wait again, etc. Small increments, because he might decide to pay you the first and second, to scam a bigger tranche. Always suspect if he doesn't accept to trade in small tranches.
7) If he has no reputation (including most cases when he is a newbie or a Jr.), even small tranches are a risk. Better use an escrow system, like the one of bitmit.net, or a trusted member, or you might need to send over 10 very small tranches. It can be annoying, but loosing your money will be more.
8] For big amounts always use an escrow system, unless the member has an excellent reputation.

Since this thread is a sticky, I decided to post this here. Any moderator or member feel free to move, copy or improve these rules at will.

Thank you for the advice man. I appreciate you helping us not get infected.

[daydreamtrader]

Does anyone know why Peercoin and Namecoin blew up so much today? It seems like those are the two strongest Alt coins and are making some distance from the rest of the pack?

These other coins like mastercoin and nxt seem pretty sketch to me... I have avoided investing even tho i actually really like the idea of a distributed trading platform.... but really it might just be a scam cause they were so premined and the volume is way to small to justify the market cap...

I did buy some nxt and then sold for a profit and was able to get my bitcoin out of the dgex trading platform so they are being honest now, but I worry that the market is completely manipulated by the people who started with all the coins... and one day the exchange shuts down and steals all your bitcoin and nxt... I had a lot of problems trying to get nxt out of the dgex exchange... I couldn't figure out the wallet and barely figured out how to see the exchange in the web browser.

Well we'll see in a couple days about the roll out of the real Nxt coin.... if dgex is still around in february, I'll be surprised.   

I just want to get some Ron Paul coin!!!!

Much love!

[jdlrexy]

I have notice devcoin making a climb today. I was trying to understand if this is just a pump or is actually legit. It's a pretty cool idea for a coin, but not sure if it's being manipulated. I was trying to find some news to see if somebody was talking it up somewhere, but didn't seem like it.

[cerleo]

Pump and dump is a well-known issue,I suppose the situation with some of the alt coins is based on that now.

[VariableDiff]

Where can i found information about coins, that will be released soon? Thank you.

[sarlangg]

Where can i found information about coins, that will be released soon? Thank you.

Check out this subforum:
https://bitcointalk.org/index.php?board=67.0

[cell.md]

Where can i found information about coins, that will be released soon? Thank you.

Check out this subforum:
https://bitcointalk.org/index.php?board=67.0

Good point to start. Thanks man.

[VariableDiff]

Where can i found information about coins, that will be released soon? Thank you.

Check out this subforum:
https://bitcointalk.org/index.php?board=67.0

Thank you, very usefull.

[Laudur]

Now we have like 100 altcoins. I predict there are 500 of them next year.
Obviously 90% of them will fade away, but people who own these dying coins will try to promote them and create a lot of noise to drive the price up.
Some coins will succeed and some not.
What do you think will be the main key to success when looking similar coins?
Does being the first of it's kind and getting head start being the main factor?
What about pure luck?

[niothor]

Does anyone know why Peercoin and Namecoin blew up so much today? It seems like those are the two strongest Alt coins and are making some distance from the rest of the pack?

These other coins like mastercoin and nxt seem pretty sketch to me... I have avoided investing even tho i actually really like the idea of a distributed trading platform.... but really it might just be a scam cause they were so premined and the volume is way to small to justify the market cap...

I did buy some nxt and then sold for a profit and was able to get my bitcoin out of the dgex trading platform so they are being honest now, but I worry that the market is completely manipulated by the people who started with all the coins... and one day the exchange shuts down and steals all your bitcoin and nxt... I had a lot of problems trying to get nxt out of the dgex exchange... I couldn't figure out the wallet and barely figured out how to see the exchange in the web browser.

Well we'll see in a couple days about the roll out of the real Nxt coin.... if dgex is still around in february, I'll be surprised.   

I just want to get some Ron Paul coin!!!!

Much love!

Because unlike moon,earth,mars,venus coin and lucky,casino,bet,games,poker coin those coins are not the usual alts.
Namecoin is one of it's kind , there is no other coin around like it.
Peercoin was also innovative with the pos/pow  , no cap limit etc.

You can't compare those two coins with...let's not go animals here.

[LancorD]

Guys I am new. What is the WDC?