A warning about Alt-Coins

[zwanzig20]

Thanks for stickying the tips..

[nasthedon]

So which altcoins should we mine or collect? A lot of alt-coins over there.

[carface]

So for most of these alt-coins what is the best equipment to use for mining? Should you be investing in high price ASICS or will getting a good graphics card or running off your CPU be good enough. For example what is best for mining Litecoin?

[r3c4ll]

I have a question about Alt-Coins (sorry if it was answered before, i don't read the whole topic).

Exist some Alt-Coin that is possible mining with an BTC ASIC?

[durian]

I have a question about Alt-Coins (sorry if it was answered before, i don't read the whole topic).

Exist some Alt-Coin that is possible mining with an BTC ASIC?

you can mine the coins that are SHA-256 - there are several of them, ppc, terracoin, etc.

[doldoltom12]

well, I guess we should stick with the original coint miner to prevent wallet theft.

[FeatherRigs]

I think only alt coins who could survive are the ones with a real business plan, it's not just about protocols.

[junp]

HERE http://www.criptovalute.it/profit.php?l=it
anyone can see wich's the best alt coin to mine...
but I think the best way is to choose 7-8 coin and mine the best each day!

[d7RA27]

Is there a place we can find reviews of the coins and possible pump and dumps?

[jackjack]

Is there a place we can find reviews of the coins and possible pump and dumps?

http://isthisapumpanddump.tk/Altcoin-name
Example:
http://isthisapumpanddump.tk/PPcoin

[bassmaster]

Thanks for helping to keep us from jumping on the next bandwagon!
Good information in this post.

[Trillium]

Is there a place we can find reviews of the coins and possible pump and dumps?

http://isthisapumpanddump.tk/Altcoin-name
Example:
http://isthisapumpanddump.tk/PPcoin

So not only does this whole site rely on one persons opinion, but there is not even any info about whos opinion it is. Worthless.

[Frangomel]

This is the good one to choose altcoins...it is sort of portal for coins at all my personal best home page

http://com-http.us/

cheers and enjoy

[saif313]

its all mean we can only survived with only BTC and LTC no other way to survive

[jackjack]

Is there a place we can find reviews of the coins and possible pump and dumps?

http://isthisapumpanddump.tk/Altcoin-name
Example:
http://isthisapumpanddump.tk/PPcoin

So not only does this whole site rely on one persons opinion, but there is not even any info about whos opinion it is. Worthless.

[Trillium]

Is there a place we can find reviews of the coins and possible pump and dumps?

http://isthisapumpanddump.tk/Altcoin-name
Example:
http://isthisapumpanddump.tk/PPcoin

So not only does this whole site rely on one persons opinion, but there is not even any info about whos opinion it is. Worthless.

http://alexlod.com/wp-content/uploads/2011/02/why-so-serious.jpeg

[saruche]

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.

Thanks for the great advice. really helpful for a newbie!

[Trillium]

s(p/c)am

Seems legit.

[smscotten]

So not only does this whole site rely on one persons opinion, but there is not even any info about whos opinion it is. Worthless.

My favorite: http://isthisapumpanddump.tk/yourmother

[naphto]

an altcoin would actually be better than Bitcoin if it provides true anonymity and untraceability.

And then how would you track transactions?
And know how much money has anyone?