A warning about Alt-Coins

[markkobarr]

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.

new info for me. thanks for the tips!

[drewbit74]

My concern for the new alternatives are more of keeping track of them and their "standards."  I do see value in the alt-coins as a place to put older hardware out to pasture working and focus the horsepower on the money where it counts.  I think in that way, I'm not so concerned about the hardware purchases right now.  They'll always have something to do, especially if you get into the right ones at the right time.  The power usage/processing speed may be less consequential.  I've dealt with computer systems and networks for the better part of twenty years now.  I still find a way to salvage use out of unwanted devices.  I do think that there will be a point when people will get tired of the variety of currencies and look for some open-sourced group framework or consortium.  I believe when that happens the values will increase and be recognized by many more as a true method of commerce. 

[loldongs]

bitcoin and other alt currencies reward early adapters/miners as price increases. those who missed BTC windfall, are now betting on LTC while it's relatively cheap hoping for an increase down the line. FTC and others on the horizon. early adapter = money in your pocket. the only person who makes more money is the creator of an alt coin. it just makes good sense ... if you start your own coin, you're guaranteed to make money (even if it fails after 2 wks, 2 months, .. 2 yrs). as long as this is the case, I think we'll continually see more and more alt coins. I don't see an end in sight.

See, you just described a Ponzi Scheme nearly perfectly. Ponzi schemes are illegal as hell, hence why people call coins designed to solely benefit the creator and the earliest adopters a scam.

[pjheinz]

whats a better idea right now sticking to just ltc/btc or  including like a ftc,cnc,nmc (ie more volitile) coin side by side'
?

[mr_lambda]

Why is there so many alt-coins...?

[tomic22]

whats a better idea right now sticking to just ltc/btc or  including like a ftc,cnc,nmc (ie more volitile) coin side by side'
?

Well, you could stick with LTC which, if you mine is more profitable than BTC. i would trust the minor coins like NMC, TRC and CHN too much.
Check coinchoose.com and find the most reliable next to bitcoin.

[tysat]

Why is there so many alt-coins...?

Because people keep creating them to make money.

[supermoose]

anyone using yacoin?

[CryptoPath]

Alt coins are great !

[aggster]

alt coins are not good, they are diluting the their worth, theres more than 1 a week, its hard to keep up

[CryptoPath]

Best Alt Coin is RIPPLE !

[duul]

AltCoins aren't a waste of time as long as you know they're a pump and dump scam, and you pump, and then dump at the right time.

[dennisan]

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

[CryptoPath]

NOT AT ALL

[Link490]

Has there been any alt-coins with different type of hash/mining methods?

[mindsignals]

anyone using yacoin?

Yeah, that's my current focus, supermoose.
I like that it is, at least currently, CPU bound.

[CryptoPath]

I love it !

[CryptoPath]

Crypto currencies are the future!

[CryptoPath]

And Ripple will be the most hardcore new crypto currencie !!

[lucerohein]

Hi,
My first post here. One of my friend refer me here to buy new coins and sell them when it will hit exchange. But I don't think it will be a great business but will try with alt coins.