A warning about Alt-Coins

[princesultan1]

Haven't been around here for long .. well , I have been mining since Nov. 2013 (mostly Litecoin) , but I have just made an account. I have one question though : is it always like this ? I mean ... do these new altcoins always spawn at such a ridiculous rate ?

not sure, but it seems nxt is heading in the opposite direction.

[billhatesyou]

Not so sure what you mean by low barriers to entry but everyone needs to stop mining it. Kanye and his eheheh.. ego won't stand for a coin based on him.

http://newsfeed.time.com/2014/01/07/bound-2-happen-kanye-west-demands-coinye-programmers-shut-down-the-digital-currency/

Abort!!

https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcQ8NxvTcWrRbjEKrNir3yVMl61QnaFtOYWdZ4cctdp1G9Ij2y1o-w

Though the developers seem adamant on releasing it regardless. Hopefully, Kanye takes this opportunity to grab the media spotlight and indirectly creates some crypto hype.

Edit:

Sorry I suck at linking to posts I'm new to it. Also, if you check http://coinyeco.in/ they have moved up the release due to these pressures. Against what I previously stated I may decide to switch my miner on to it for an hour or two just because how pissed off Kanye will be lol.

http://coinyeco.in/coinye/coinyeannounce.png

Holy crap dude, yeah me too. That would be freaking hilarious.

But seriously, why the fish thing? Is that from South Park or something?

And yeah I'm adding extra sentences to this post just to get rid of the new account restrictions. <sigh>

[nyminer]

Where does one find the wallet for the Coinye alt-coin?  Everywhere I seem to look it mentions that it will be pre-released, and the password distributed at launch, but I can't actually find that anywhere.

On a related note, I'm also pretty new to mining in general, and this will be my first coin launch.  That said, is it worth it to try to solo-mine a launch coin, or does the difficulty make it more worthwhile to mine in a pool? 

Part of me seems to think that it makes more sense to solo-mine...

--nyminer

[AtlantisPlatform]

I think it's easy to mine now. Better now than later.

Mine today, yesterday and tomorrow.  I always have my ~3MH/S rigs running.  Nothing worse than waking up in the morning and finding out one of my rigs hung itself overnight.

May I ask what cards you are using? I decided to buy R9 280x, but I'm considering the 270x instead.

As far as I know 280x performance is much better than 270x performance. 280x has currently very good price/performance ratio.

As far as my calculations go and prices here it seems to me that price / performance is very close.

270X about 450 khash / 195 € = 2,31 khash / €
280X about 720 khash / 310 € = 2,32 khash / €

There is always some variance of course.

First newbie post. Yeah

I have 5 280x cards and 3 7950 cards,My 280x cards run effortlessly at 710 k/h at about 74 celcius, I could coax more out of them but they are so stable, they run for weeks and never have an issue. My 7950 cards also run stable at 625 k/h, they are a little quieter than the 280x cards. Even though the cards could all put out a little  more I like the stability and cool running.

[tazmanrising]

I think Doge will make a comeback.  Ron Paul coin shot up 30%  nice

[inex]

Everyone has had problems with different pools for Coinye. I have had tremendous luck with Coinye.netcodepool.org they were one of the first Doge pools and were successful. Happy mining!

[Millicent]

Please let coinye drop off the face of the earth like it's namesake...

/

[ddirt]

I really hope the seemingly endless supply of new altcoins will slow soon. I also want to see a lot of them simply disappear from the exchanges and boards. This will be healthy for the crypto currency economy. Having so many crap coins out there makes this whole thing look like a joke to the rest of the world. When will the attrition happen???

[niothor]

I really hope the seemingly endless supply of new altcoins will slow soon. I also want to see a lot of them simply disappear from the exchanges and boards. This will be healthy for the crypto currency economy. Having so many crap coins out there makes this whole thing look like a joke to the rest of the world. When will the attrition happen???

With 26 letter in the English alphabet we might get 17576 combinations for coins aac ,btc,sxs,mgh,kkk

But since doge has already been listed with 4 , we might get 456976 Alts.
=)))))))))))))0

[eXSn]

These tchotchke alt coins work the exact same way as penny stocks. They slowly die out after a few good marketing bursts.

[Todd02]

I really hope the seemingly endless supply of new altcoins will slow soon. I also want to see a lot of them simply disappear from the exchanges and boards. This will be healthy for the crypto currency economy. Having so many crap coins out there makes this whole thing look like a joke to the rest of the world. When will the attrition happen???

With 26 letter in the English alphabet we might get 17576 combinations for coins aac ,btc,sxs,mgh,kkk

But since doge has already been listed with 4 , we might get 456976 Alts.
=)))))))))))))0

I kinda agree with some of what your saying and can understand your point of view.
But it makes me think that if in fact there were fewer altcoins wouldn't that result in more miners mining fewer coins and in turn make mining altcoins less profitable and maybe more difficult?
Maybe there needs to be a balance between the number of altcoins and the number of people mining. Just a thought.

Cheers

[Todd02]

For now I just mine the most profitable (per cryptsy) day by day and convert most of them immediately to btc but i think there might be a place for them to stay in the future.

Regarding shit coins, it's actually profitable to mine them. What you think about them does not make a rats ass of difference

Exactly what I think lol 

[niothor]

I really hope the seemingly endless supply of new altcoins will slow soon. I also want to see a lot of them simply disappear from the exchanges and boards. This will be healthy for the crypto currency economy. Having so many crap coins out there makes this whole thing look like a joke to the rest of the world. When will the attrition happen???

With 26 letter in the English alphabet we might get 17576 combinations for coins aac ,btc,sxs,mgh,kkk

But since doge has already been listed with 4 , we might get 456976 Alts.
=)))))))))))))0

I kinda agree with some of what your saying and can understand your point of view.
But it makes me think that if in fact there were fewer altcoins wouldn't that result in more miners mining fewer coins and in turn make mining altcoins less profitable and maybe more difficult?
Maybe there needs to be a balance between the number of altcoins and the number of people mining. Just a thought.

Cheers

Less coins would also mean more money pouring in less coins so the remaining coins would be more costly to acquire and mining would be more profitable.
But that's just theory.

[theotherjim]

Please let coinye drop off the face of the earth like it's namesake...

coinye is here to stay

[blackfriday]

hello, i'm looking for buy/sell crypto but i don't know where.
what are the most secure kind of markets on the web?

[olinnebit]

I think it's easy to mine now. Better now than later.

Mine today, yesterday and tomorrow.  I always have my ~3MH/S rigs running.  Nothing worse than waking up in the morning and finding out one of my rigs hung itself overnight.

May I ask what cards you are using? I decided to buy R9 280x, but I'm considering the 270x instead.

As far as I know 280x performance is much better than 270x performance. 280x has currently very good price/performance ratio.

As far as my calculations go and prices here it seems to me that price / performance is very close.

270X about 450 khash / 195 € = 2,31 khash / €
280X about 720 khash / 310 € = 2,32 khash / €

There is always some variance of course.

First newbie post. Yeah

Welcome aboard:D Thanks, I think I'll stick with the 280x

[tagbond]

You think there are a lot of coins already?...Wait till larger companies want their own coins for the own rewards or payments purposes...We are only at the tip of the iceberg right now.. Larger companies will also have the resources to handle mining themselves if need be, or to give incentives to miners to drop coins with no future or use. Looking forward to it..:-)

[olinnebit]

You think there are a lot of coins already?...Wait till larger companies want their own coins for the own rewards or payments purposes...We are only at the tip of the iceberg right now.. Larger companies will also have the resources to handle mining themselves if need be, or to give incentives to miners to drop coins with no future or use. Looking forward to it..:-)

It is kind of scary also(and exiting). FB, Goolge, AT&T, etc. are already major communication/media companies. Imagine them with control over a monetary system as well.

[MemoryCoin]

look

[josepipo]

Any of pesetacoin?