A warning about Alt-Coins

[josecauy]

Thanks 

[Artand]

Its a miracle! I can post here! Wooooo!!!)))

[Useless1d1ot]

Any views on Zetacoin?

Zetacoin, IMO, does not bring much to the table other than block speed. I am uncertain if it will get a true market share or if it will be a pump/dump.

Edit: I had about 60k ZET and sold 50k at a profit so I held on to some just in case.

[Artand]

I just wonder how many more posts do I have to write to be able to reply in other threads?

[rampalija]

Its a miracle! I can post here! Wooooo!!!)))

just dont spam and they will not delete your post

[bktrembath]

I keep thinking of other first-to-market internet phenoms, like AOL, MySpace, Napster, etc...but BTC does feel a bit different.

[collingiusti]

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.

What are the safest alt coins? (minus LTC of course)

[IXC2XIC]

I love alt coins.

I love them.

I especially love ixCoin as you can see by my alias.  That will be the next Bitcoin.


Not much longer now.

[IXC2XIC]

I keep thinking of other first-to-market internet phenoms, like AOL, MySpace, Napster, etc...but BTC does feel a bit different.

No, Bitcoin feels exactly the same.

The only difference is Bitcoin has massive money betting on it, from wallstreet to the govt, lots of money and power wanna see it succeed.

[IXC2XIC]

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.

What are the safest alt coins? (minus LTC of course)

LTC is safe?

Bahahahahaaa.  During this last Bitcoin run, the great [Silver] Litecoin dropped 65% in 3 weeks.

A 65% drop in under 21 days does not silver nor safe make.

No alts are safe, only maybe 2 will survive the coming onslaught next year.

Your best bet is Bitcoin, but if you want a chance at making a lot of money then find the next great coin which will not be Litecoin nor any of the commonly expected coins.

Diversify and Read up on ixCoin.  That's your best chance.

[DickyT]

Never saay about xrp.. shit.. I bought ripple xrp and soon they offer a large amount free xrps to public...

[IXC2XIC]

This is a good thread.

Lots of good info.

[Gridcoin]

Hello Everyone,

I am interested in starting a new topic in [ANN] for the launch of gridcoin.

http://www.gridcoin.us

Can anyone help me obtain access for starting a new thread in the forum to launch the coin?

Thanks!

Grid

[pezDspencer]

Hello Everyone,

I am interested in starting a new topic in [ANN] for the launch of gridcoin.

http://www.gridcoin.us

Can anyone help me obtain access for starting a new thread in the forum to launch the coin?

Thanks!

Grid

Good luck with it!  I like the idea... always a huge supporter of research, esp BOINC.

[IXC2XIC]

Hello Everyone,

I am interested in starting a new topic in [ANN] for the launch of gridcoin.

http://www.gridcoin.us

Can anyone help me obtain access for starting a new thread in the forum to launch the coin?

Thanks!

Grid

Just post for the next few hours and you'll get full access.

I opened this account today and I'm already a Jr. Mafia member and can do whatever I like.

That's how you do!

[sirlev]

It took me two nights or so, but I managed to read this whole thread from start to finish.
It wouldn't have taken nearly that long to read if all the embarrassingly newb questions and idiotic, ill-informed premises were culled from it.  But, I guess...you get what you pay for.

Thanks to everyone who contributed actual thoughtful and informed insight into the topic of alt-coins here.  I find it fascinating and clearly nobody knows where this all ends up, yet but that is what makes it so darn interesting.

Why on earth someone thinks anyone has "the answer" as to what will definitely happen is beyond me.  There are so many moving parts and it is all so new.  I mean, really...I get that it is confusing and there is a ton of uncertainty, you just want someone to tell you "what is the best one for me to do right now" so you don't have to waste your time actually learning anything before you make a million bucks and move out of the basement....but before you ask the question maybe consider the notion that even IF someone had a magic crystal crypto ball and really really knew....why would they tell YOU?

Sorry.  Just had to rant a little and get that out of my system.  Thank you for taking the time when you should probably be doing something else.

[sidhujag]

Official alt coin pump thread for mcx exchange which is alt coin central.

https://bitcointalk.org/index.php?topic=323252.new#new

[rampalija]

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.

What are the safest alt coins? (minus LTC of course)

LTC is safe?

Bahahahahaaa.  During this last Bitcoin run, the great [Silver] Litecoin dropped 65% in 3 weeks.

A 65% drop in under 21 days does not silver nor safe make.

No alts are safe, only maybe 2 will survive the coming onslaught next year.

Your best bet is Bitcoin, but if you want a chance at making a lot of money then find the next great coin which will not be Litecoin nor any of the commonly expected coins.

Diversify and Read up on ixCoin.  That's your best chance.

65 %  of his price in BTC but how much did it droped aganist USD?


a little

[kingsley]

Alt-coins are the only way BTC avoids being an inefficient monopoly. Competition is almost always a good thing. Though maybe it would be good if there were only 3 or 4 alt-coins. I'm thinking maybe just LTC, FTC and Peercoin. More communities working on solving the challenges of cryptocurrency sounds like a good thing, though they are mushrooming too much.

[rampalija]

Alt-coins are the only way BTC avoids being an inefficient monopoly. Competition is almost always a good thing. Though maybe it would be good if there were only 3 or 4 alt-coins. I'm thinking maybe just LTC, FTC and Peercoin. More communities working on solving the challenges of cryptocurrency sounds like a good thing, though they are mushrooming too much.

BTC would never be what is now, without altcoins. You have to admint that