A warning about Alt-Coins

[reprazent]

Alt coins aren't all that bad, if you gamble on the right one it will earn you some money. But if it doesn't then theres nothing lost.

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[Plesk]

Alt coins aren't all that bad, if you gamble on the right one it will earn you some money. But if it doesn't then theres nothing lost.

Well.. Maybe not nothing.. but very little.

[mhm83]

most are like penny stocks, but some (like penny stocks) make it.

[Veilcerpin]

I feel there are too many alt coins now, and with more on the horizon, we are left with an alt coin over saturation.

This is bleeding the worth out of every single coin. Should there be group decided mandate to limit the amount of alt coins in circulation?

[candelone]

The alt coins are the only way to earn money with crypto currencies during speculation activities. BTC prize is far too stable

[n0h0p3]

hi mates !

is it worth to mine digicoins ?

what do you think ?

[bitveskid]

Alt coins have their place, but without developer support (looking at you Litecoin!) and merchant support they will never reach the levels of Bitcoin. They will be used for nothing more then speculation (which is still good, since fiat money is being pumped into the cryptocurrencies).

I am mining for Worldcoins now though (on a single 7850, the established coins aren't worth the effort any more), they seem to have the brightest future based on bitcointalk activity and the rise in network hash.

[Pisces]

The only altcoin I have any faith in at this time are Litecoins.  Litecoins ARE a necessary diversification away from BTC should something bad happen to SHA256 and whatnot 

I think everyone here would agree with me in that it's never wise to put all of your eggs in one (BTC) basket.   

[qritz]

The only altcoin I have any faith in at this time are Litecoins.  Litecoins ARE a necessary diversification away from BTC should something bad happen to SHA256 and whatnot 

I think everyone here would agree with me in that it's never wise to put all of your eggs in one (BTC) basket.   

What's SHA256?

[Veilcerpin]

The only altcoin I have any faith in at this time are Litecoins.  Litecoins ARE a necessary diversification away from BTC should something bad happen to SHA256 and whatnot 

I think everyone here would agree with me in that it's never wise to put all of your eggs in one (BTC) basket.   

What's SHA256?

It's the encryption algorithm that is used to mine bitcoins. Litecoins on the other hand use scrypt algorithm during mining.

For a super sciencey answer try:

https://en.wikipedia.org/wiki/SHA-2

[monkmonster]

Most Alt coins are completely pointless and just poor replicas of what's already out there with little to no improvement.

yeah. yeah. i thought as you said.

[k5opt]

WDC is great now!
I've started mine it now

[ganabb]

litecoin has big chance to survive.

[menace_one]

I think everyone here would agree with me in that it's never wise to put all of your eggs in one (BTC) basket.   

/sign

litecoins have their right to exist, because of the different algorithm base.
but nobody needs all these tons of other coins with no technical differences.

[Dexter44]

Litecoin are here to stay

[bitbytes]

Litecoin are here to stay

But what is driving the price of LTC down when BTC is so stable to up?

[synthetic1001]

I bought 20 ripples @ 4$. Just to test site.

I think digital currency must be controlled or "they" will make it illegal. Therefore i bet on bitcoin. (i hope that one becomes standard. Too many alt-coins kills some of the value of them all?

You can always give me some ripples  

NO BEGGING, ADDRESS REMOVED

[joulesbeef]

too many alt coins are killing the alt coin idea and market. You could have a great idea for an alt coin and make it better than all the other ones, fix many of the problems with all coins and you wont get it off the ground in this climate.

it's getting hyper retarded

[DaGreatRV]

Litecoin are here to stay

But what is driving the price of LTC down when BTC is so stable to up?

I think that has to do with:
1. The people who run GPU farms, or even the small guy with two GPU's switch from BTC to LTC and back to mine whichever is more profitable.
Because it is the same hardware, with the same cost, it will peg LTC to BTC. Just take a look at BTC/USD and LTC/USD prices over time, they show roughly similar trends.
2. The BTC ASIC era is just getting started and has driven a lot of GPU farms from BTC to LTC, see LTC difficulty graphs. Which was the short term...
3. In the long term, the hardware of choice to mine BTC will obviously be ASIC. Obviously you can't switch over your ASIC farm to LTC when profitability changes. This will losen the bonds between the currencies.
4. Hardware to mine BTC is becomming cheaper than hardware to mine LTC.

Though how the long term will look is a mistery. But I count on a tenfolding of BTC difficulty by the end of the year.
So either the price of BTC/USD will rise to match. $1000+ per BTC, or all GPU miners go to LTC, making it's difficulty rise as a result aswell. 

[keccak512]

Any new and _innovative_ altcoins out there?