A warning about Alt-Coins

[Msile]

Whats so good about this Kitten ?

Same as with DOGE as I said before, it's a meme, it will become popular. Higher demand = higher value.

And difficulty is still low.

[stompix]

Which cryptocurrency is the most profitable for mining in next few days? Lotto, Fedoracoin?

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

Remember that what's profitable today might not be tomorrow , when all miners switch their rigs to it.

[glasgowbry]

does anyone have ela-coin ?

the website needs updating as does its forum

[Millicent]

Based on this article today on Marketwatch if there was an alt coin say CRD coin for Crude oil trading it would be an instant hit.   It stands to reason that an instantly traded currency would rule this fast paced marketplace.   To me this is a real world marketplace that stands to benefit from such a perfect trading apparatus.


There has been speculation for months about whether bitcoins might be accepted as legal tender by a major developed nation, whether the Chinese will accept them, or whether big web retailers will take then instead of conventional currencies. But the big breakthrough for digital money is more likely to come from the oil cartel, OPEC.

For decades, oil has been priced in dollars but key member states such as Iran, Algeria or Angola are not particularly friendly to the United States, even if they are not quite as hostile as they once were. They have been making noises about switching the price of oil out of the American currency for years, but have never quite managed to agree on alternative.

The euro was a runner for a while, until it started to implode. But what about bitcoins? It is a global currency, with no central bank trashing its value, and it might well prove a better store of value for countries that know their oil won’t last forever. If any single move establishes bitcoin as a serious monetary rival to the dollar, that will be it — and there will be more than a few wry smiles in Tehran over that.



 PS  If any of you devs pick this up keep me in mind  

So , why make a new altcoin that does the same thing as bitcoin , just for a name?
Look at all the stupid casino,games,bet,lucky,poker coins that came out and look how many are used in online games and how many online betting websites are using bitcoins.

Do you pay with gaseuros at the gas station , with carrefoureuros at the supermarket , with electriceuros your electricity bill?

Well that's a good point, but to think that there will ultimately only be one digital currency is probably not realistic.   I guess my thinking is more along the lines of a digital currency that has some intrinsic value based on the crude oil it represents.  Like the gold standard used to be for the dollar.  I don't know really, it was just an idea that I haven't given a lot of thought to.

Do you now why I used euro and not usd?
Not because I'm an European  but to already answer to your future question.

So:
Well that's a good point, but to think that there will ultimately only be one digital currency is probably not realistic

Why not?
With the euro , 20+ (and more coming next decade)  currencies have gone extinct.
Give one reason why we would not have only one in the whole world in 100 years.

I doubt currencies will go extinct.   I seriously doubt paper currency is going anywhere in the next 100 years and beyond.  There are too many places that it's simply not feasible and won't be in our lifetime.  They simply don't have the infrastructure.

I am sure the governing bodies would like that once they figure out out to centralize digital currency and track every transaction.  I am actually surprised that the bankers have let Bitcoin get this far.  It's totally against their business model and will ultimately cost them 10's of millions of dollars if not their businesses.   The Federal Reserves of the world wield too much power to let their gold mine get shut down.  There will not be only one Cryptocurrency as their is not only one paper currency and their values will differ as extremely as the USD and the IQD.  Cryptocurrency will have it's place, just not the only place.

[glasgowbry]

anyone got any hayek -coin ?

[nick_a]

anyony mining WDC

[dsaxor]

Alt coins can become useful, I think, if people start accepting them for services or goods. That's all that is missing.

How I wish that all this will be true it will benefits all small time altcoins miners

[ariolis30]

man doge got hacked.  i just read online.  security on coins def needs to be worked on. 

[stompix]

man doge got hacked.  i just read online.  security on coins def needs to be worked on. 

How can a protocol get hacked? Care to point the source of this info?

[ariolis30]

http://techcrunch.com/2013/12/25/dogecoin-hack/

Thats one but there are multiple sources.  =( sigh

[ariolis30]

man doge got hacked.  i just read online.  security on coins def needs to be worked on. 

How can a protocol get hacked? Care to point the source of this info?

Now that theres a source... thats my question now.  How?

[Cryddit]

The protocol didn't get hacked, Dogewallet got hacked.  

Somebody got access to the server's filesystem and modified their PHP, arranging for all dogecoin payments to go to an address of the attacker's  choosing.  

While the hacked website was running, people typed in their passwords authorizing the payment of about 21 million dogecoins to various places; and all of those wound up with the attacker instead of the intended places.

So the dogecoin protocol is fine, but the people who ran dogewallet failed to keep their server secure.  

[stompix]

http://techcrunch.com/2013/12/25/dogecoin-hack/

Thats one but there are multiple sources.  =( sigh

A service using doge was hacked.
You know the difference between a website using a crypto and that crypto protocol?

A lot of websites using bitcoins have been hacked , including mtgox.
But the bitcoin protocol has never been hacked.

Spend some more time in the newbie area. With this kind of FUD you're dangerous.

[ariolis30]

http://techcrunch.com/2013/12/25/dogecoin-hack/

Thats one but there are multiple sources.  =( sigh

A service using doge was hacked.
You know the difference between a website using a crypto and that crypto protocol?

A lot of websites using bitcoins have been hacked , including mtgox.
But the bitcoin protocol has never been hacked.

Spend some more time in the newbie area. With this kind of FUD you're dangerous.

i thought i was posting in the newbie section.  thats what this is for to keep people like me informed and knowledgeable.  thank you for the clarification though but thats what i meant.

[garp]

Spent a few days reading several alt-coin fora.
Recently discovered Nxt and immediately understood it was quite different from most other coins. Especially the 'green' mining aspect, or I understood from the Wiki http://nxtcrypto.wikia.com/wiki/Nxt_Wiki I should say forging.

I wanted to by myself a (very ) little stake into it. So I went through the hassle of buying some BTC, transferring them to dgex and bought Nxt's at the going rate.

In the mean time i continued reading a lot of info on their forum https://nextcoin.org/

They seem to get a lot of attention of attackers. Why? I really don't know, but it might be that others are afraid of the competition .
And i should say, despite the attacks, they seem to survive very well

[stompix]

Spent a few days reading several alt-coin fora.
Recently discovered Nxt and immediately understood it was quite different from most other coins. Especially the 'green' mining aspect, or I understood from the Wiki http://nxtcrypto.wikia.com/wiki/Nxt_Wiki I should say forging.

I wanted to by myself a (very ) little stake into it. So I went through the hassle of buying some BTC, transferring them to dgex and bought Nxt's at the going rate.

In the mean time i continued reading a lot of info on their forum https://nextcoin.org/

They seem to get a lot of attention of attackers. Why? I really don't know, but it might be that others are afraid of the competition .
And i should say, despite the attacks, they seem to survive very well

Oh really....
You have a 100% premined coin , sold by the "developers" only on their exchange , at the price they want.
And , you don't smell anything fishy?
You've got to get a nosejob.

[Larzsolice]

For those newbies trying to get into Litecoin, the faucet at http://ltc4you.com/?r=4915 has recently made changes that could potentially earn you a reasonable amount (for a faucet) fast.

They now have a daily draw where 10 random players earn 1000uLTC, 10 earn 3000uLTC and 10 earn 6000uLTC! The faucet dispenses hourly

[Msile]

For those newbies trying to get into Litecoin, the faucet at http://ltc4you.com/?r=4915 has recently made changes that could potentially earn you a reasonable amount (for a faucet) fast.

They now have a daily draw where 10 random players earn 1000uLTC, 10 earn 3000uLTC and 10 earn 6000uLTC! The faucet dispenses hourly

But the normal game has pretty much been destroyed, 20 uLTC was few (When I first went to the site it was atleast 80) and now it's only 2. The chances of those prizes probably aren't so high either, I guess I'll get this website out of my favorites.

[madjihad]

What is a good way to know or research what alt-currencies will be good or not?  I agree as someone said some but not all will or could do well.  Yet, there are at least 100 alt-currencies available.  For instance, Quarkcoin is in the top 10, but at 243 million coins still outstanding, does anyone believe that this might hurt this particular currency?

Yeah , it will hurt mining when the reward goes to 1/16 per block.
Since it's cpu based > easy pray for a botnet.
Also it's inflation doesn't help it a lot compared to other coins. Why the hell have inflation when people went into cyptocoins for fear of inflation.

It's already have hurt mining, since current reward per block is 8 QRK, while it was 2048 at the beginning. And basically almost all quarks are already mined, so we just mining inflation, or about 0.4-0.5% currently mined quarks.

Do you or anybody else reading this thread happen to know a place where you can check the hashing rate of the quark network over the last 30 days or so?

Not really. The best I can give you is: http://www.cryptocoincharts.info/v2/coins/show/qrk

[pro100j]

hi guys, im new here. Who can tell me what coins i should buy?