A warning about Alt-Coins

[tasorrog]

PPC to the moon 

[PenAndPaper]

PPC to the moon 

Actually it looks like XPM does a lot better although it is to early to say 

[chechenia007]

If they are a waste of time or not, i like having some hobonickels just for the sake of it.
So i can go on and say to my friends, "hey man, do you want half hobonickel for gambling?" hahahah also, nobody stops anyone from creating a local market accepting whatever choice of alt currency.

[Samir_H]

Crazy days for alt-coins, who would say this will come

[Don007]

I did, but I didn't expected it this fast hehehe. It's great!

The litecoin has reached the $30.-. And as soon as China wakes up, it think it will increase even more.

[nosf009]

I've initially came to this crypto world with intention to mine, but I see I can't mine most with this hardware.
Then I thought about buying some LTC; but didn't when I was supposed to. That turned out stupid

Now I have some numbers of FTC and hoping for the best.
Still exploring mining.

Cheers

[hilariousandco]

I've initially came to this crypto world with intention to mine, but I see I can't mine most with this hardware.
Then I thought about buying some LTC; but didn't when I was supposed to. That turned out stupid

Now I have some numbers of FTC and hoping for the best.
Still exploring mining.

Cheers

FTC has seen a steady rise over the past couple of weeks. I'm backing it.

[Marchiano]

What do you think about Ripple?

[nik1311]

I have made a stupid mistake on Nov 14. I have sold 4 LTC with 3$ price... 

[willisr]

These are all getting very difficult to mine, do you think altcoins will be big?

[hilariousandco]

These are all getting very difficult to mine, do you think altcoins will be big?

Define 'big'. If you look at the trends they're all rising in value and it's highly probable they will continue to rise: http://coinmarketcap.com/

[Cryptopher]

I've made some terrible decisions and had some bad luck along the way, but it could be worse.

I was caught in a noobtrap on TRC, buying 3000 at 0.00026 before it shot down to 0.00018. After holding for two days and watching like a hawk, my order for 0.00027 was snapped up when I went out for an hour. When I got in the price was 0.00041, the peak was something ridiculous like 0.0018! Obviously I would have certainly sold my share before it hit even 0.00041 as my mentality was one of recovery having resisted selling for below what I paid for days.

Then I followed Fontas into the FTC pump that never happened, well it did but then somebody (maybe even 'Fontas') had a 300 BTC sell wall which killed the pump before it got going. Now I am sitting with 3.5k FTC whilst LTC shot from 19 to 30 USD.

Everything I touch seems to be turning sour, I suppose it is all a learning curve and the stakes could have been much higher.

Fine line between profit and greed etc.

[IFC4ever]

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.

Yea i wish i had some altcoins

[basva]

Hi, could someone send me some NXT coins so I can start mining? Thanks!
17405231906428949483

[kai11]

wallet stealer?

Given so low chances to hit a bitcoin wallet user, why would people write the stuff.
Oh i see, because there is no regulation.

If my wallet got stole, it is stolen, can i file a report or something?

[MrAokiji]

Damn....I wish I had invest in alt coins  Saw Litecoins when they were 4$.....Now im aiming towards megacoins and infinitecoin 

[dotonate]

What are the key elements you guys have in mind when selecting an alt coin? 

[Ralyks]

Hey, so I'm semi new to crypto or at least the ALT coin world.

I recently got into MEC. I've talk to some people who live in China and say it's becoming a strong contender over there as well as just seeing higher volume on some of the exchanges.

My question; should I be concerned about downloading the wallet file directly from their website? http://www.megacoin.co.nz/

I am concerned there could be some sort of key logger or malware. Am I just being over paranoid or is this a real concern? Thanks in advance for the replies.

[foobar123]

Does anyone focus on minor "altcoins" ?

I dont want to jump on a horse which is nearly dead before it runs.

So is there maybe any altcoin with substantial different algorithms so to say where sha256 is replaced with some else?

[PenAndPaper]

Does anyone focus on minor "altcoins" ?

I dont want to jump on a horse which is nearly dead before it runs.

So is there maybe any altcoin with substantial different algorithms so to say where sha256 is replaced with some else?

Litecoin and many others use scrypt. Also there are some alt coins that use proof of stake together with proof of work like PPC.