A warning about Alt-Coins

[Den821]

What do you think about RealCoin?

[BlIiTtZz]

What do you think about RealCoin?

It seems to be generating some enthusiasm, but that's hardly uncommon. The creator's web site suggests it's the latest of a number of luke-warm attempts. Either way, it'll be interesting to see what happens.

[solokop]

I'm downloading realcoin to mine it.

[LibertyTeeth]

First post.  I'm currently mining Litecoin and Feathercoin, using 7950s, not overclocking, just stock.  3 of them are working Litecoin, 4 of them working Feathercoin.  Currently about 2.4 Litecoin per day, and about 60 Feathercoin a day.  Using Coinotron.com.  Earlier today I switched, because Coinotron was reporting the "Profitability" of them was 1.15 (LTC) and 1.50 (FTC), against BTC at 1.0.

Right now, they're 1.13 (LTC) and 1.03 (FTC), so I'm thinking about switching back to LTC.

I'm also considering writing a script that would read the "Profitability" and switch miners to use the most profitable.  It would run once per hour (user-configurable, perhaps 5 minutes would be better?), and would switch all miners to the most profitable.

It would probably use an external site, so I would configure each miner to pull its script from there, and then when I update it, it would see that it was updated, pull down the new script, and restart itself.

At any rate, I then wondered, since I had this idea -- has anyone else?  Would hate to reinvent the wheel, even if it means I'm flexing my brain on a challenging problem.

[NoKitty]

idk, i think a couple alt coins might be helpful, the litecoin faq argues that having more than one crypto currency is better than having one single one which can fail.

thanks for the warning though

[JohnSy]

Which coin to mine for a newbie?

[JohnSy]

What do you think about RealCoin?

It seems to be generating some enthusiasm, but that's hardly uncommon. The creator's web site suggests it's the latest of a number of luke-warm attempts. Either way, it'll be interesting to see what happens.

is this safe to download??

[YacLives]

Which coin to mine for a newbie?

you can try Bitcoin but if you dont have a big enough rig you can try YAC to use your cpu to mine

 the link is at the bottom in my sig and you can look in the alternate

 currency section of the forums for a coin you might like to mine and support to use your GPU to mine aswell

[chup]

At this moment FTC is most profitable? How come after exchange to BTC? Where is the place to do the exchange with lowest provision?

[btcworker]

Sorry, guys, don't get fooled.

There's

• BTC
• LTC
• NMC (.bit domains)

worth mining it.

Rest is toy coin, scam coin, butt coin or however you wanna name it...
Just my 2 coins and: you have been warned!

[Larry666]

should newbies worry about this?

[R-T-B]

It's hardly profitable at all, considering no exchanges have started up, but I have my eyes on StableCoin...  and if I were you I would too.

[tempuser123]

Too many coins are getting launched ... not sure if even one of them will actually take off

[ftgcoin]

Any opinion on devcoins? Do you think they will be a waste of time?

[R-T-B]

Any opinion on devcoins? Do you think they will be a waste of time?

If you're asking me, yes, but who knows?  Whole thing is a darn guessing game...

[atariguy]

First post.  I'm currently mining Litecoin and Feathercoin, using 7950s, not overclocking, just stock.  3 of them are working Litecoin, 4 of them working Feathercoin.  Currently about 2.4 Litecoin per day, and about 60 Feathercoin a day.  Using Coinotron.com.  Earlier today I switched, because Coinotron was reporting the "Profitability" of them was 1.15 (LTC) and 1.50 (FTC), against BTC at 1.0.

Right now, they're 1.13 (LTC) and 1.03 (FTC), so I'm thinking about switching back to LTC.

I'm also considering writing a script that would read the "Profitability" and switch miners to use the most profitable.  It would run once per hour (user-configurable, perhaps 5 minutes would be better?), and would switch all miners to the most profitable.

It would probably use an external site, so I would configure each miner to pull its script from there, and then when I update it, it would see that it was updated, pull down the new script, and restart itself.

At any rate, I then wondered, since I had this idea -- has anyone else?  Would hate to reinvent the wheel, even if it means I'm flexing my brain on a challenging problem.

The problem with the profitability comparisons is that they're based on the current exchange rate. I've learned from sad experience that by the time you actually have the coins ready to exchange, the circumstances are completely different.

That's why I'm sticking with BTC for now. I've got two 7950s and am currently averaging close to $5 a day. How are you doing with your LTC and FTC in terms of USD?

[GaiusMaximus]

To be honest I like the emergence of all the alt coins, not necessarily for the profitability but more competition and if btc are the strongest, than over time this constant competition not necessarily innovation will be good overall for the future of bitcoin, that is just my opinion though

[sidhujag]

Any opinion on devcoins? Do you think they will be a waste of time?

I don't think so, I think this type of coin may be the one to survive the longest.

Psychologically this is also true as if you ask 100 people 90 of them will say dvc is a waste. This is the best opportunity to buy as you know the sheep are always wrong... markets love to make a fool out of the most people possible.

[teferi6]

What are alt-coins???

[CrypTrader]

There are a lot of alt-coins coming out, but its good to have an even more decentralized system with multiple networks. Some coins innovate and try new features/settings, while others are just worthless copies. What will be interesting is to see when an altcoin comes out that has built in true anonymity without having to use tor.