A warning about Alt-Coins

[rumak]

Verified not to be working....sigh.. we don`t need more clone sites lots of multi currency crypto sites....

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[bitcoinART]

is bitcoin the only game in town for this sort of thing?  thanks..

[Crypto-Change.com]

Yes one user from my site was infected from bitcointalk and lost about 70 bitcoins 

[jgrayjr]

Very good info thank you!

[DrJoeGrine]

BTC-e.com is also a very good exchange that uses multiple alt coins. It is also very reliable compared to mtgox and you don't need to send them your first born to register.

[thy]

Coins-e is friendly to new crypto currency users,
Not only are we a well trusted exchange, but the wide rage of currencies we have gives noobs instant access to many wallet addresses in one place.

https://coins-e.com

I just observed your site is not responding......

Coins-E has been working fine every single time i checked it the last week, maby it's something wrong with your internet connection, or some node on the internet between you and there site ?

....I wanted to check out the site and see the free coin faucets you have available there to see.....

I think you mixed up his post and the one after, i don't think Coins-E has any faucets there, at least i haven't seen any.

There's lots of other sites(Btc-E, Cryptsys, Mcxnow, Bter, Crypto-trade and Vircurex(Vircurex is probably insolvent thou after they lost(or stole) the equivalent of 2500 btc from the exchange and then starting to steal the dividend from there minority shareholders witch they have been doing for the last 3 months now, so it's best to awoid vircurex for now until they paid what they owe there shareholders), where you can trade atcoins thou, but Coins-E seems to be where you are able to trade most coins.

[zulufields]

Coins-e is friendly to new crypto currency users,
Not only are we a well trusted exchange, but the wide rage of currencies we have gives noobs instant access to many wallet addresses in one place.

https://coins-e.com

I just observed your site is not responding......

Coins-E has been working fine every single time i checked it the last week, maby it's something wrong with your internet connection, or some node on the internet between you and there site ?

....I wanted to check out the site and see the free coin faucets you have available there to see.....

I think you mixed up his post and the one after, i don't think Coins-E has any faucets there, at least i haven't seen any.

There's lots of other sites(Btc-E, Cryptsys, Mcxnow, Bter, Crypto-trade and Vircurex(Vircurex is probably insolvent thou after they lost(or stole) the equivalent of 2500 btc from the exchange and then starting to steal the dividend from there minority shareholders witch they have been doing for the last 3 months now, so it's best to awoid vircurex for now until they paid what they owe there shareholders), where you can trade atcoins thou, but Coins-E seems to be where you are able to trade most coins.

www.coinsforall.com is up and running

[pisces1999]

I think it's easy to mine now. Better now than later

[Blaz3]

Whats the best among the rest...

[oshgumishy]

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

Man, if everyone felt that way, Bitcoin would have been dead in the water from word go.  Thankfully people are open to new systems, new ways of improving on old systems, and all matter of evolution and change.  Is every new currency, or system in general, a great idea? Of course not.  But to be paranoid and assume it's all a "waste of time" is to resist potential progress, and to live in negativity.  I'm just sayin'

OM

[Dimrain13]

Hmmm I wonder if I could get my BFL to mine for alt coins...

[xzempt]

what about NameCoins? will those ever be worth anything?

im just hoping for a alt coin collapsed that lease bitcoin at the top
!!

[WinterParker]

Yeah there will be ways to mine AltCoins with ASICs, and they are already figuring it out.

[Dioptriy]

is there any news acordig altcoins from major finance instetutions?

[STT]

They dont care about your piddling little coin.   The market depth on the entire 'currency' barely matches the trading of a small company shares for one hour so it is a hobby industry but then so was apple originally


ASIC cant mine scrypt coins until memory chip prices become much cheaper and/or integrated into the cpu designs they are churning out.

Also see point one, theres not enough money to make it worth their while running up the factory process

Can they take old asic hardware and somehow turn it via proxy into mining scrypt.  I think it would be much slower then the latest gpu with fast onboard memory.
   I remember playing a dx8.1 game on a dx8 card, the missing hardware instructions were done in software but it didnt really work as the latency between high level CPU interpretation and normal GPU process was too great.   

[nextgalaxy43]

The American dollar is just a piece of paper, and have forced to all the world by power , especially for Europe, after the World War II, when Europe was weak and it was possible to put down the English pound.
 First time dollar have gold equal, and then gold equal was canceled that mean that  all people was  deceived.
So all those who from childhood dreams of dollar are dumps,  and the dollar is a big financial bubble.

[Hfleer]

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.

I'm surprised some of these still have the value that they do.  There's more and more appearing each day, and no real success to speak of.

[Xodust99]

LTC seems to be holding its own no?

[poplolnman]

Indeed it is, though some of the new altcoins seem pretty interesting.

[OneMoreHuman]

I heard a great idea about altcoins recently. I wish I could remember who said it. They said that the technology of a new coin does not matter nearly as much as the strength of its network. In the future, more adversaries may exist that would like to use their computational power to defraud new cryptocurrency networks. This can happen even if those new networks are technically superior that previous ones. For example, Litecoin is more secure and faster than Bitcoin, but for now there is a greater risk to use it because there is not as many miners using their machines to secure Litecoin.