A warning about Alt-Coins

[olinnebit]

Hi everyone , I am a Newbie . I wonder if someone will explain me how to use escrow when buying some altcoins here forum. Thanks

Hi. I haven't used escrow myself, but this is a good start; https://bitcointalk.org/index.php?topic=119896.0

I have been lurking a while, decided to finally post and try to get out of Newbie jail...

Alt coins in the last couple weeks have been really interesting. I really regret not getting on Doge sooner than I did, even though I still managed to mine nearly 2million with only 1.3 Mh/s. I then regret not selling the Doge at 200 satoshis (and buying some at like 150 satoshis doh) now that it's come down to ~55 and I can't see it going up again any time soon!

Moon was interesting last night, managed to get over a million and sell them this morning on coinex for like 0.2 BTC, which is way more than mining any other alt coin out there.

The trick, it seems, is to mine all of the coins as soon as they come out until the next one does (or the diff gets too high) then go back to mining one which you think has a chance of succeeding long term.

At the moment I'm mainly in DigitalCoin and looking to get out of Doge and into EarthCoin. DGC has a new exchange coming on the 12th January which I'm hoping will boost the price up and EarthCoin just looks so professional even though it's just over a week old that it could really be going places.

What's everyone else in?

I'm in WDC, DTC and NXT mostly. I agree with you DGC and EAC, they are into something good if they keep up the work.

[NxTDice]

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[Bigjohnson124]

hello guys nice to be here

[trilltokill]

My top 3 pick for the first quarter of 2014.
1.Dogecoin- especially if Dogeroad takes off.
2.Netcoin- has been on steady rise since late November.
3.Lottocoin- I just feel like people will gravitate towards this.

[prasnik]

hi all,

i'm a newbie and was wondering if you've had any past experience dealing with alt currency only exchanges to trade alt-coins? i know a couple based on searches but it'd be nice to get some recommends and what you like/don't like about themπ. thanks

[thefewminutes]

netcoin and earthcoin seem to be taking off

[reckt6]

Most of the ALT coins have been disappointing

[sscultima]

trying to sell graincoin got 110,000 trading to IFC

[JanCarlo]

Thanks for this. I was starting to be a bit enthusiastic about all these new coins, but it's always best to be brought back down to reality before we do anything stupid or waste our time.

[robonix]

Regarding https://bitcointalk.org/index.php?topic=372136.0;all I seem to have installed everything properly on a digital ocean drop using ubuntu and when i start the daemon:

Code:

cd memorycoin/src && ./bitcoind --daemon && watch './bitcoind getinfo && ./bitcoind getmininginfo'

I get this error:
error: couldn't connect to server
but the daemon is clearly running what could be going on here?
thanks in advance

[cheshireycat]

I started mining with dogecoin because it was a laugh and by total accident ended up doing modestly well from it which lead me to have a little think about devoting a little of my time to the pursue of coins.

I like feathercoin for no rational reason at all.

[androda]

Alt-coins are probably a great way to get advertising income.
Make a 'new' coin, post about it all over the place, watch the ads roll out and the income roll in.
People (especially 'normal' people, not techies) are getting interested in digital coins, so why not try to take advantage of that?
I know that some people (myself included) use ad-blocking systems, but I doubt it's a large enough percentage to make much of a difference yet.

(  Oh, and by the way - apparently using the 'Preview' feature counts as a posting, so you have to wait 3 minutes after you preview your post before you can actually post it.      )

[pophacker]

It's true that there's a huge saturation of alt coins in the market now, which is devaluting a lot of them.  It's hard to say which coins will gain in value in the future; sometimes you never know.

??

[cerleo]

Yes,there are quite a lot of alt coins and this makes the situation harder to predict.We will see what'll happen.

[skaffas]

So what's the next new coin to mine? I tried to go mooncoin right from the beginning when it was released.... that was a big letdown
Now I'm back on middlecoin until I find a new coin announcement.

[bonecoin]

I invested in the top 5 altcoins 1 month ago. They all lost value except for Litecoin. I agree with previous posters that it is just silly the amount of new coins coming out. They just dilute the market and actually make Bitcoin stronger because they have such little value. Right now Litecoin is the only legitimate altcoin.
I think altcoin prices will rise dramatically the next time Bitcoin prices go over $1000. That will make a good selling opportunity.

[dmx374]

So what's the next new coin to mine? I tried to go mooncoin right from the beginning when it was released.... that was a big letdown
Now I'm back on middlecoin until I find a new coin announcement.

We pre-launched NutCoin yesterday, you can mine it with a laptop CPU!

[rwslippey]

Interesting points everyone. While I'd agree with many of the other posts in the past (and some I mean like page 1...) I'd have to say as an overall, big picture thinking, alt coins have a place. The idea of bitcoin is to be decentralized currency. Having just one would, IMHO make is centralized. Not because it's ran by any one group, but because their is no choice.  On a side note, I think it wise to use caution with brand new coins!


Happy New Year, Happy mining

[daimyo]

I dont think those alt coins are going anywhere. 99% of them are just the SAME. Only difference is name, number of confirmations per transaction and the total amount of coins to be issued. This is totally diluting the market, rendering every so called alt currency worth less and less.
Bitcoin emerged on top coz it was the ONLY currency back in the days. May not be the best or most secure currency but people put their money and computer power into it the most. Now with 8919612956 alt currencies each sharing a negligible market cap, how do you think thatll make any difference to your pocket?

Those alt currencies should be used solely for amusement purposes. Dont get them too seriously...

[sykal]

So what's the next new coin to mine? I tried to go mooncoin right from the beginning when it was released.... that was a big letdown
Now I'm back on middlecoin until I find a new coin announcement.

I think dogecoin is still very profitable-