A warning about Alt-Coins

[beats studio]

The only reason I switch coins is because of a combination of a low difficulty + value against the BTC.  If I end up with a usb asic miner or the BFL miner I've been waiting on, I may take on a higher difficulty coin. 

[20111111]

Altcoins are like penny stocks. A few succeed, the majority are worthless. That's what most day traders do to make a buck.

[wuyulou]

Hi everyone! Can abybody tell me how to see the current difficulty of alt-coin through the client or any other way?

[KKomygod]

 So what is the best alt coin to invest in right now? I'm thinking nmc or litecoin.

[Xorb]

Only litecoin and bitcoin has some real value, because you can actually buy something, the others only have speculated value.

[Xorb]

I somehow believe in YAC though...

[LosVegas]

litecoin is the only other alt coin i would considered right now.

[bernard75]

You all know that any altcoin is subject of manipulation.
But maybe thats exactly why you are into them.

[valona74]

Alt coins may not be profitable, but still for those newbies fun none the less,  nothing better than watching those coins pile up quickly rather than waiting weeks, or months to see  any amount of bitcoins in ones wallet. Not everything needs to be about profit, fun has its place too.

[TECHICENINE]

welcome to BTC breaking below support@100??-imo>75~5O\/ possible+greenhorn coinz breakout..thanks

[AvaWoods]

If you know what you are doing and plan long-term alt coins can become very profitable, with a little luck also.

[Odysseus]

A miner on one of the other consortia asked me what I thought of a proposed 'karmacoin' in which instead of hashing to authenticate transactions, your miner program was doing something more genuinely useful.  I replied that
i) I thought it a bad idea to make up more YetAnotherBitcoinClones
ii) I liked the karma idea and proposed that for public benefit tasks such as following asteroid paths or ridding the world of malaria, perhaps stratum and bitcoin mining consortia would have the right infrastructure to share out a problem amongst thousands, and distribute payment for subroutine completions (not hashes, since most tasks are not hashing).  That would need a generous benefactor to put 1000 BTC on a problem from time to time, and it would need some transparency so that the public can see that they are not computing the most economical way to smash an asteroid into the pentagon.  That would gain the benefactor massively parallel processing power so might be suitable for certain classes of task which suit that degree of parallelism.

What do others think?
Would it be better to install new code to do karma tasks for bitcoin than to have a new karmacoin?
Would you want to connect in to processing tasks at an existing bitcoin mining consortium?
Should effort shares be counted and rewarded in Bitcoin, or would people not need those to help out with a problem?

This suggestion seems like the next step in cryptocurrency evolution.  Once a sufficient supply of established cryptocurrencies have been mined, they can be redistributed to solve computational problems.  This way miners can utilize existing capital, and sustain velocity in the currency.

[RaymondKa]

what do you guys think about infinitecoin?

[valuecoin1]

There's no harm in mining them, but yea buying is definitely a risky bet.

[britneycoin]

sometimes i feel cheated.  ppl trick me to mine theyre coin and then leave us with  no updates.  can sum1 please make a good one.

[TECHICENINE]

sometimes i feel cheated.  ppl trick me to mine theyre coin and then leave us with  no updates.  can sum1 please make a good one.

HOLDING ====>

ARG>BOT>DGC>BTE>FTC>LTC>GLD> adding/\more to the\/pile..thanks

[4ju5tice]

sometimes i feel cheated.  ppl trick me to mine theyre coin and then leave us with  no updates.  can sum1 please make a good one.

I'd say the best altcoins out there are litecoin and ripple. Ripple isn't mineable of course. The other ones won't catch on. A good way to get rich quick is to make your own virtual currency and sucker people into giving it value.

[NAnastas]

What about litecoins? Think it will be popular, when GPU mining on bitcoins go to the end and all gpu-miners will push their radeon-power to the scrypt. I received my ASICs, but my old radeon farm is still mining litecoins

[zepadee]

sometimes i feel cheated.  ppl trick me to mine theyre coin and then leave us with  no updates.  can sum1 please make a good one.

I'd say the best altcoins out there are litecoin and ripple. Ripple isn't mineable of course. The other ones won't catch on. A good way to get rich quick is to make your own virtual currency and sucker people into giving it value.

Ripple ? I think not. If this gets adopted by the government then get the !@#$ out quickly.

[WaverleyStreet]

sometimes i feel cheated.  ppl trick me to mine theyre coin and then leave us with  no updates.  can sum1 please make a good one.

I'd say the best altcoins out there are litecoin and ripple. Ripple isn't mineable of course. The other ones won't catch on. A good way to get rich quick is to make your own virtual currency and sucker people into giving it value.

ripple is a privete entity not open sourced at all from what i understand!!!


>>>WTF!!!!