A warning about Alt-Coins

[posormo]

Look, I was mining some alt coins - pwc, ryc.... and what? I dont know what to do with them Sad
If anyone is interested in, I have 120RYC and about 200PWC. Give me a proposition to spend them for my or network's profit.
Regards,
Danny

[wermoee]

Litecoin is up 50cents today. Is it from speculation from the recent announcement from mtgox or just a manipulative pump? Should I dive in on this?

[samsonn25]

Litecoins are not as vulnerable to ASIC as Bitcoin, 

I have noticed the dollar volume trading in LTC  ($1.o6 million) today was much higher than the dollar traded amounts for BTC ($ 663k) possible announcement by major exchange to trade and carry the currency.

I like LTC, think it is undervalued. Uses scrypt where even the little guy can use GPU power.

[nordicminers]

But there are some gems in there, WDC for naming one. One can't even be sure LTC will make it in the long run so why not WDC?

Other than that he's basically right, people just git cloned the code for LTC and renamed them. Then preminted a few million coins and launched the coin.

Would be nice to know why some exchanges boycotts the new coins though and lifts forward others, take for example BTC-e TRC/PPC/FTC/CNC but not WDC. Do they believe more in those alt currencies?

Ah well, some alt-coins are atleast a great way to test out a pool setup. You only get so far with testnet.

[whitepaint0909]

I see them as a quicker vehicle to more BTC than my miners can currently produce mining BTC on there own or even on bit parking. Mining alt-coins ans cashing out for btc quick has proved most profitable

[atariguy]

I see them as a quicker vehicle to more BTC than my miners can currently produce mining BTC on there own or even on bit parking. Mining alt-coins ans cashing out for btc quick has proved most profitable

Since the exchange rates move with BTC, it should come out about the same.

[cxvfssfsdeeew]

And for sure i only see two possible alternatives right now - LTC and NMC - no one cares about others so don't bother with mining...

[iram5110]

I have been mining bitcoin for a bit.   Looking into trying Litecoin.   

What pool do you guys suggest?   I like PPS but am open if there is one that seems to be fair fees.

[iram1085]

I am new to all coins but it seems as if some sites such as bitminter also has me mining for Namecoins and items like the macminer is having me mine Litecoins. So I am wondering what coin should I be mining with Bitcoin?

[iram4049]

Do you think it might be a good idea for an alt currency for online poker rooms? Would be hard to mine, but traded openly on poker/casino sites. Or do we have to have a market first? A litecoin base would be good, due to the quick transactions. I could see a market for it, since it would take so long to mine, people who play the games could just purchase the chips from the online casino or eachother. Any thoughts on this, or a waste of time?

[iram4049]

Do you think it might be a good idea for an alt currency for online poker rooms? Would be hard to mine, but traded openly on poker/casino sites. Or do we have to have a market first? A litecoin base would be good, due to the quick transactions. I could see a market for it, since it would take so long to mine, people who play the games could just purchase the chips from the online casino or eachother. Any thoughts on this, or a waste of time?

[Poosemeo]

GPU will die very...very soon.  IF you are going to invest in them..id say mine LTC could be profitable once they go up a little in price.

ORRR you could buy my asic preorder ha Smiley

[elefter]

Given the current state of ASICMiner, what are everyone's thoughts on investing in it at the current price for alt currency mining? I have 50 BTC that I bought a long time ago and I'm looking to get something out of it.

Diversify your portfolio...
AsicMiner is good...
mining is good....
Asics are good...

till any one of them stops being good...

[atariguy]

Given the current state of ASICMiner, what are everyone's thoughts on investing in it at the current price for alt currency mining? I have 50 BTC that I bought a long time ago and I'm looking to get something out of it.

If I had 50 BTC from a long time ago that I was looking to get something out of, I'd cash out. 

[atariguy]

I have been mining bitcoin for a bit.   Looking into trying Litecoin.   

What pool do you guys suggest?   I like PPS but am open if there is one that seems to be fair fees.

I like WeMineLTC.com

[atariguy]

So on BTC-e someone PM'd me about Devcoin. I had heard of it before but I don't know the slightest thing about it. Does anyone know the story of this? Could it be successful? The DVC chart seemed to mirror the chart of PPC and LTC. Just looking for some useful information on whether this is a wise investment or not.

Devcoin comes free with bitcoin mining if you use a pool that merge-mines it, such as mmpool.bitparking.com

But it's pretty worthless.

[sidhujag]

So on BTC-e someone PM'd me about Devcoin. I had heard of it before but I don't know the slightest thing about it. Does anyone know the story of this? Could it be successful? The DVC chart seemed to mirror the chart of PPC and LTC. Just looking for some useful information on whether this is a wise investment or not.

Dvc is great it will be successful because of its idea. The controlled supply infinite supplynwill actually help in the long run to mass adoption. As soon as it becomes appealing it will fly in value very very fast such that there will be only a few early adopters which are now at these low prices.

Opensource community hasnt caught in yet.

[PiguetWatches]

It would be great if bitpay, or whomever that "pay with bitcoins" button comes from, offered a service where you could exchange alts on the fly for BTC, and/or allow merchants to accept alts.

[earllmoran344]

There seem to be a lot of features which can be implemented in an alt coin which are not immediately obvious.

The Bitcoin protocol is quite robust - but if an implementation comes along with a killer new feature it could take over.

[tracylandis666]

I know this is a noob question, so it gets stuck in the noob board.

I mine ltc with Bitminter, and I collect shares. So my question is, as the difficulty rises, is it harder to get shares, or does it take more shares to uncover the block?