A warning about Alt-Coins

[hilariousandco]

The opposite is also true; some of them have no unique features and nothing behind them in terms or development or merchant adoption. Most are just clones and get rich quick schemes. Some will survive; some wont; some will become useful and of worth; others wont. It'll be interesting to see what other alt coins merchants start accepting.

I agree with you. Most of alt-coins don't have any credibility and no chance for adoption, it's just matter of time when they die.

http://www.cryptosextoys.com/ accepts Sexcoin haha, but also BTC, LTC, FTC, PPC and XPM. It really does depend on merchants, but we really don't need a new coin for every niche or industry possible. These coins are becoming a joke now and it takes away some of the credibility from Bitcoin and cryptocoins in general.

We have Gamecoin, Casinocoin, Betacoin, Pokercoin, Lucky7coin.
And not evern talking about animals : Elephant, Tiger , Eagle , ...

Are those actual coins? I've not heard of any of 'em.

Yeah , and there are much much more :
http://www.wheretomine.com.

And I bet there are twice as more in the wild not listed yet , and another serious amount in development or already dead.

Jesus Fuck, I knew there was a lot of alts but this is just silly now. Snowcoin, Unobtanium, Dollarpounds, Ferretcoin, Richcoin. Dafuq?

You can't print more bitcoins , but you can print an endless supply of alts.

Haha, yeah. Is there any coin that attempts to be Infinite? I think Infinitecoin really wasted their name there.

[nate008]

Haha, yeah. Is there any coin that attempts to be Infinite? I think Infinitecoin really wasted their name there.

Of course , there are lots of coins designed with a 0.5 , 0.1 or even 1% inflation.
Quark per example. So , theoretically it's infinite.

[miner4coin]

what is the easiest coin to mine that would make it worthwhile to then converting it to BTC?

Thanks!

[nate008]

what is the easiest coin to mine that would make it worthwhile to then converting it to BTC?

Thanks!

Read above , I've already said it 4 times

http://www.wheretomine.com/
http://www.coinwarz.com/cryptocurrency

[miner4coin]

Thanks!

[BitcoinLibre]

I would like to diversify on altcoins investment. For instance, buy or mine some Novacoins since thy seem to be getting a better value, then trade them to Bitcoins when they go down, to exchange them when they are up again for Litecoins if they go down, and so on.  Has anyone tried this strategy?

1) Don't just trust the status of a member, anyone can be a hero member. 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 http://blockchain.info or www.cryptocoinexplorer.com to verify if his address has the amounts he wants to sell.
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/trust of the member, checking also his successful trades, in the form of vouches from the other party on the deal. Be aware that positive trust can be forged by making and using more bitcointalk accounts and the trust system can be more or less avoided by changing its settings.
6) Even if he has some reputation, never send all the money in one transfer: send one first small tranche (ex. 0.1 btc) 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 (specially if he is a newbie or Jr.), even small tranches are very risky. Better use an escrow system, like the one of http://www.bitmit.net, www.btcrow.com, or a trusted member, or you might need to send more than 10 very small tranches. Think well before sending more than 0.2 btcs (it's considerable money in some countries) and only after 1 or 2 successful payments of 0.1 or 0.15 btcs.
8] For big amounts use an escrow system, unless the member has an excellent reputation. If he doesn't accept, forget the deal. Always protect your capital.
9) Only trade codes (ex. of virtual gift cards) with members with a very good reputation or using a very trusted escrow member that will have to go to the account and apply the code himself. The buyer will have to give the escrow person his password and change it again after. With an automatic escrow system, the buyer can claim falsely that the code was already redeemed when he received it or that his account was blocked after.
10) Don't sell any cryptocoin to paypal or other reversible system, unless the buyer has good reputation. The buyer can chargeback and, since it's against paypal's TOS to trade currency, paypal usually gives your money back to the buyer.



http://www.bitmit.net:
Just post anything you want to sell for bitcoins or ask the seller to do the same about something you want to buy. The payment in bitcoins is sent to their escrow system. It's of no use for the buyer to lie about paying, because the page of the deal indicates automatically if the bitcoins were or weren't receive. If you are the seller and sent the goods to the buyer (for instance, another currency), once the buyer clicks item received, you receive the bitcoins from bitmit.net. If the buyer doesn't confirm that the goods were received, you write bitmit with evidence that you sent (like the transfer id) and they pay you fast. There is a 1.90% fee to pay.
http://www.bitmit.net/en/info/faq
You can also use http://btcrow.com, the fee is smaller: 1%.

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.

[celeronjb]

My account on http://gdc.nordicminers.eu/ was somehow blocked. When logging says: Unable to login: "Account is locked. Please contact site support." What support email address? On the site it is not.

[losthymns]

TAG coin is where it's at. It is def not a pump and dumper. The creator of TAG has invested millions and he wants to make it work. Keep an eye on it as its gonna be a big one.

[hilariousandco]

TAG coin is where it's at. It is def not a pump and dumper. The creator of TAG has invested millions and he wants to make it work. Keep an eye on it as its gonna be a big one.

What has he invested millions in?

[losthymns]

https://bitcointalk.org/index.php?topic=317408.0

You can check it out there. Its a reward coin, i would do a lot of research on this but it looks like he's got an entire business model already laid out, and yes, he has invested millions in making his coin a legitimate coin.

[cerleo]

At the moment there are a lot of coins out there.You can choose from a lot and deceide which one can rise and which one will drop.

[virtualaddict]

All the alt coins seem too alike to matter. If a cryptocurrency comes out that solves the issue of choosing which cryptocurrency is best, then that is the one I'd choose.

Do you think that if an alt (scrypt) coin's price rises above the price of litecoin, or gets near it, it may completely crash litecoin, as that would be a sign that the market is choosing a better coin?

[cerleo]

Well,it depends on a lot of factors.If another altcoin surpasses litecoin in value in interest or go to the same level then everything can happen.

[losthymns]

Alt-coins are honestly looking like the only profitable way really make decent money with mining.

[virtualaddict]

Alt-coins are honestly looking like the only profitable way really make decent money with mining.

Lets just say that I would hate to be caught without a scrypt mining rig if the market does indeed choose a 'better coin' in the near future.

[losthymns]

Yeah SHA-256 is pretty much all but dead.

[kowalsky]

Hi all,
I'm unable to post this under https://bitcointalk.org/index.php?topic=361813.0 thread as I'm a newbie but will appreciate if someone could post this info out there:
Largest Polish social-network website Wykop.pl (similar to Reddit) and technology blog Antyweb (similar to Techcrunch) are featuring Dogecoins on the first page:
http://www.wykop.pl/link/1782026/dogecoin-zauwazony-na-swiecie/
http://antyweb.pl/tyle-dogecoinow-tak-bardzo-internetowe-zloto-bogactwo-wow/

To the moon!

[Samir_H]

http://www.cryptosextoys.com/ accepts Sexcoin haha, but also BTC, LTC, FTC, PPC and XPM. It really does depend on merchants, but we really don't need a new coin for every niche or industry possible. These coins are becoming a joke now and it takes away some of the credibility from Bitcoin and cryptocoins in general.

We have Gamecoin, Casinocoin, Betacoin, Pokercoin, Lucky7coin.
And not evern talking about animals : Elephant, Tiger , Eagle , ...

And nobody is crazy enough to sell stuff for that joke-coins.

[haems]

I'm curious to see the ways in which alt-coins will integrate themselves into society. Most of the stories I've read involve small merchants, such as food cart owners, accepting BTC and the like. It seems the power is definitely in the hands of the small business owners, because they are the ones who have discretion over their own finances and aren't beholden to a corporate office. I'm sure some of the more savvy business owners take multiple alt-coins as payment. I suppose sooner or later a wallet application will come out wherein one could pay with multiple coins for one item.

[pand70]

I'm curious to see the ways in which alt-coins will integrate themselves into society. Most of the stories I've read involve small merchants, such as food cart owners, accepting BTC and the like. It seems the power is definitely in the hands of the small business owners, because they are the ones who have discretion over their own finances and aren't beholden to a corporate office. I'm sure some of the more savvy business owners take multiple alt-coins as payment. I suppose sooner or later a wallet application will come out wherein one could pay with multiple coins for one item.

There is no real need for multiple coins and a multiple coins wallet because alt coins don't offer anything serious over bitcoin anyway