A warning about Alt-Coins

[coinye]

looking to buy coinye coin, pm me offers

[cech4204a]

Coinye coins seem to be most wanted  every beggining is dificult, even for alt coins.

Buying Coinye, paying in BTC, PM me.

[brosef]

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

Someone posted this in the Coinye Ann Thread:

Quote from: iamalitecoin on Today at 04:43:29 AM
Can anyone lead me to the wallet source?
http://d.coinyecoin.org/coinyecoin-qt-win32.zip

THIS IS THE WALLET FOR THE PEOPLE WHO NEED IT

[mknlp]

 

[coinye]

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

Someone posted this in the Coinye Ann Thread:

Quote from: iamalitecoin on Today at 04:43:29 AM
Can anyone lead me to the wallet source?
http://d.coinyecoin.org/coinyecoin-qt-win32.zip

THIS IS THE WALLET FOR THE PEOPLE WHO NEED IT

Do not open this link, it is not the original from coinye thread.

[Bik_z19]

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.

Not to stirr up the discussion again, but Im really having fun mining altcoins. Especially with the insane hashrates needed to mine any BTC at the moment.
Your tips on how to prevent yourself from being scammed are good though

[LaCertosus]

This silly altcoins madness has to stop... 

[niothor]

This silly altcoins madness has to stop... 

Indeed. Please help my project and stop the madness once for all.

https://bitcointalk.org/index.php?topic=405612.msg4394844#msg4394844

[shluher]

May i ask what coin now is the most promising?

[mrsmoke]

May i ask what coin now is the most promising?

Foxcoin (Foxconn) FXC 

https://bitcointalk.org/index.php?topic=403431.0

[gimre]

doge

[chizzy]

May i ask what coin now is the most promising?

rpc imo

[brumbo]

May i ask what coin now is the most promising?

Lots of promising coins on coinwarz: http://www.coinwarz.com/cryptocurrency

[gimre]

bit OT, did namecoin died?

[ani-chan]

This silly altcoins madness has to stop...

Yea, "altcoins medness" is good words to describe situation now.

[Marduc]

why can't more coin wallets have built in miners like argentum. I have mined 1800arc  on my pc in less than a month.  I got a great idea for a new coin called Pyratecoyn. to make it popular with the merchants let transaction volume generate extra coins the top fifth get 5 percent on coins sent and another 5 percent coins received next 5th 4 next 3 ect.  rewarding merchants for using coin. even allow a sort of banking the extra coin generated could be used to pay interest to escrow and depositors

[zentric]

Did any other noobs get on the Coinye release yesterday. My first mining attempt and I managed to score a small haul. How do I offload them now? No exchanges I know of have them listed.
 
5iKs6gBgrjEjqYzaPiMcgbXTCH65AxKRzn

[Insomniac]

Did any other noobs get on the Coinye release yesterday. My first mining attempt and I managed to score a small haul. How do I offload them now? No exchanges I know of have them listed.
 
5iKs6gBgrjEjqYzaPiMcgbXTCH65AxKRzn

Just give it some time, it was just released yesterday.
It will be interesting to see how that coin does after all the media hype and stuff.

[zentric]

Did any other noobs get on the Coinye release yesterday. My first mining attempt and I managed to score a small haul. How do I offload them now? No exchanges I know of have them listed.
 
5iKs6gBgrjEjqYzaPiMcgbXTCH65AxKRzn

Just give it some time, it was just released yesterday.
It will be interesting to see how that coin does after all the media hype and stuff.

I think  Alt-coins are dead..... http://coingen.io/   
Hopefully there is a reversion to the current coins and more strict exchange listing!

[cyngered]

Did any other noobs get on the Coinye release yesterday. My first mining attempt and I managed to score a small haul. How do I offload them now? No exchanges I know of have them listed.
 
5iKs6gBgrjEjqYzaPiMcgbXTCH65AxKRzn

Just give it some time, it was just released yesterday.
It will be interesting to see how that coin does after all the media hype and stuff.

I think  Alt-coins are dead..... http://coingen.io/   
Hopefully there is a reversion to the current coins and more strict exchange listing!

I feel like coingen is even more of a joke though. Who wants to pay someone to modify and lock up an open source fork?