How much hope is there for any new coin not to be dumped to death?

[billionaire]

What features could a new coin have to avoid the pump and dump quick deaths that have taken down so many others? I see WorldCoin with a fair and smooth launch, with fast transaction times and some thought was shown with the retargeting to not fall into the problem that hurt FeatherCoin so bad. WorldCoin seems like a coin with potential, yet all I see is massive amounts of dumping at whatever the top offer is on bter and mcx, even if the top offer is lowballing recent bids and purchases.

Watching these two exchanges for a while, it seems like WDC miners would not hesitate to dump their coins for half or even less than the current bids if that was what was offered. To an extent I can see taking the guaranteed profits because it is still very lucrative, but when multiple 1K+ dumps are transacted literally one second after someone purchased at a much higher price over and over again, you have to wonder if any coin can really survive like this. I have watched all afternoon as people clearly dumped the second their WDC hit their exchange accounts. There is no other explanation, as waiting 5 seconds to view the order history would have yielded them better prices time and again.

What could be done to minimize at least some of the most incompetent of dumpers?  PPC tried adding interest for coins held in one's wallet. Could a larger interest rate coupled with the other features of WorldCoin fair better for a potential coin? Can any new coin survive the growing number of dump miners that will sell at virtually any price above zero? I'm wondering if even LTC would  survive if launched today in such conditions if 99% of the coins mined were instantly dumped for whatever someone was willing to pay.

I'm all for a third coin surviving long term, and perhaps I am jumping the gun in posting this so soon after WDC hit the exchanges, but it just seems like this one is going to play out like all the rest and it seems like a good coin.

[1714673804]

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[1714673804]

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[Hydroponica]

What features could a new coin have to avoid the pump and dump quick deaths that have taken down so many others? I see WorldCoin with a fair and smooth launch, with fast transaction times and some thought was shown with the retargeting to not fall into the problem that hurt FeatherCoin so bad. WorldCoin seems like a coin with potential, yet all I see is massive amounts of dumping at whatever the top offer is on bter and mcx, even if the top offer is lowballing recent bids and purchases.

Watching these two exchanges for a while, it seems like WDC miners would not hesitate to dump their coins for half or even less than the current bids if that was what was offered. To an extent I can see taking the guaranteed profits because it is still very lucrative, but when multiple 1K+ dumps are transacted literally one second after someone purchased at a much higher price over and over again, you have to wonder if any coin can really survive like this. I have watched all afternoon as people clearly dumped the second their WDC hit their exchange accounts. There is no other explanation, as waiting 5 seconds to view the order history would have yielded them better prices time and again.

What could be done to minimize at least some of the most incompetent of dumpers?  PPC tried adding interest for coins held in one's wallet. Could a larger interest rate coupled with the other features of WorldCoin fair better for a potential coin? Can any new coin survive the growing number of dump miners that will sell at virtually any price above zero? I'm wondering if even LTC would  survive if launched today in such conditions if 99% of the coins mined were instantly dumped for whatever someone was willing to pay.

I'm all for a third coin surviving long term, and perhaps I am jumping the gun in posting this so soon after WDC hit the exchanges, but it just seems like this one is going to play out like all the rest and it seems like a good coin.

From what I've noticed, the great coin killer, seems to be difficulty. Difficulty gets too high, the bulk of people stop mining it, and go to something profitable. It doesn't seem to hold its value long enough, for the diff to go down, and people to go back to mining it again, LTC being the exception, of course. WDC has had a promising day, in the exchange. The instant transactions are nice. The orphan blocks are a bit of a pita. I guess that's one thing Digicoin has on WDC, and it may catch on, after WDC diff rises. Only time will tell.

*Edit* Time based diff adjustments, as opposed to block based ones, may help mitigate this...We'll see

[relm9]

DigitalCoin and Nibble, both great launches in my opinion. Lowering the block reward when difficulty is next to nothing works well, promotes more even distribution of coins. It's an elegant way of dealing with the early orphan issues. Also from what I've seen there seems to  be less people dumping those coins so far.

While there's less potential profit to jumping on these coins early, I think this puts off miners looking to rake in 1000s of coins, allowing for more natural hashrate growth. The biggest detriment to these new coins is people looking to dump them on an exchange right from the get go, and if people have less coins they might think twice about dumping them all at once.

[Hydroponica]

DigitalCoin and Nibble, both great launches in my opinion. Lowering the block reward when difficulty is next to nothing works well, promotes more even distribution of coins. It's an elegant way of dealing with the early orphan issues. Also from what I've seen there seems to  be less people dumping those coins so far.

While there's less potential profit to jumping on these coins early, I think this puts off miners looking to rake in 1000s of coins, allowing for more natural hashrate growth. The biggest detriment to these new coins is people looking to dump them on an exchange right from the get go, and if people have less coins they might think twice about dumping them all at once.

Value tends to be relative too though. Lower block reward, and fewer coins = higher value on an exchange = dump, dump, dump

[markm]

There is nothing elegant about shitloads of orphans.

It is trivial to fix, just set starting difficulty reasonable.

But none of them do that because their entire point no matter what they say is proven by their failure to set difficulty appropriately: they are all about premine aka instamine aka pump and dump, that is their entire purpose and once dumped another equally scammy orphan-fest follows.

-MarkM-

[relm9]

There is nothing elegant about shitloads of orphans.

It is trivial to fix, just set starting difficulty reasonable.

But none of them do that because their entire point no matter what they say is proven by their failure to set difficulty appropriately: they are all about premine aka instamine aka pump and dump, that is their entire purpose and once dumped another equally scammy orphan-fest follows.

-MarkM-

Wouldn't that require mining the genesis block at the desired starting difficulty? At 1 it'd take a ridiculously long time.

[nonameo]

There was elacoin, but no one cared. current mhash: "networkhashps" : 6256648

There's a new coin coming in a few weeks or so that is like elacoin, I forget the name of it. It looks like it might be pretty decent. It's done by some guy that makes mining rigs and sells them.

[Twerka]

The coins survives because they are usefull. If nobody accept the coin in no places, you can't do nothing = no value.
That is why BTC is the most expensive, because it's the most used of all cryptocurrencies.

There is nothing elegant about shitloads of orphans.

It is trivial to fix, just set starting difficulty reasonable.

But none of them do that because their entire point no matter what they say is proven by their failure to set difficulty appropriately: they are all about premine aka instamine aka pump and dump, that is their entire purpose and once dumped another equally scammy orphan-fest follows.

-MarkM-

Why you sign your messages if you have your nickname and avatar on the left side?

[ecliptic]

The coins survives because they are usefull. If nobody accept the coin in no places, you can't do nothing = no value.
That is why BTC is the most expensive, because it's the most used of all cryptocurrencies.

There is nothing elegant about shitloads of orphans.

It is trivial to fix, just set starting difficulty reasonable.

But none of them do that because their entire point no matter what they say is proven by their failure to set difficulty appropriately: they are all about premine aka instamine aka pump and dump, that is their entire purpose and once dumped another equally scammy orphan-fest follows.

-MarkM-

Why you sign your messages if you have your nickname and avatar on the left side?

BTC and LTC are literally the only coins with any vendors that use them at all

the others are 100% exchange, speculation, pump and dump, and mining.  or perhaps gambling within the coin itself or with other altcoins, aka basically an exchange with dice.

not to mention they have no features beyond BTC/LTC.  less block time = less security

you cannot have your cake and eat it too

[sor.rge]

Currently the new coins are only mined to be dumped. Nobody has any other interest in them, not even their creators. If nobody needs them, they're worthless, no matter how difficult they are to mine, or how few of them are there.
The very idea of coin distribution which assigns the bulk of coins to a few early "adopters" (for the lack of a better term, because nobody is really going to adopt it) is absurd. The coins are not backed by anything but wasted time and electricity. The original idea was that the miners support the network, but it was totally perverted and turned into the sole purpose of existence of a coin. Mining is just a way to safeguard against double spend attacks; without actual attackers, or spending, it's pointless.

[BazkieBumpercar]

Hear hear, OP
I really hope Worldcoin will have some future, love the fast transaction time and the 8 hour retarget.
I won't be panicselling my WDC, keep it alive!

[erk]

The only new features I have seen that worked is WDC 15sec block rate. Everything else has been tried before.

Coins will be pumped and dumped, that's just how it works. It's not the coin features that make it successful, it's the infrastructure around it, the clients, merchants, exchanges, documentation, promotion.

Things like difficulty, block rewards, scrypt, are all meaningless to the sucess of a coin as they are all miner focused. Merchants and traders, the real coin users,  don't give a rats about such things.

To genuinely introduce new features you probably need to do a PhD study into the whole subject. There are mathematical things that need solving such as out of control block chain growth, and 51% attack proofing.

[sor.rge]

To genuinely introduce new features you probably need to do a PhD study into the whole subject. There are mathematical things that need solving such as out of control block chain growth, and 51% attack proofing.

Not any mathematical thing requires a PhD. Could be a nice paper, though.

[ecliptic]

Someone should make an altcoin based on one of the emerging asymmetric encryption algorithms thought to be secure against quantum computers (which implement shor's algorithim)

THAT would actually have some value.  THAT would be the most conservative & secure coin, even more than bitcoin

oh wait

that would require programming and mathematical and technical skill

[Kevlar]

Have you seen what's happening with Feathercoins today? Price is up 70%, hash rate is up, it's days away from it's hard fork target to address the problems with difficulty hikes it's been having, and the community is going bonkers.

Not all alt-coins are slated for the same fate. What's the difference here? An active community who's willing to put their money where their mouth is in order to see it get mass adoption. When you have that, technical problems tend to be less of an issue.

[Harry_Styles]

Are you implying new coins aren't only used for pump and dumps.

[e521]

Have you seen what's happening with Feathercoins today? Price is up 70%, hash rate is up, it's days away from it's hard fork target to address the problems with difficulty hikes it's been having, and the community is going bonkers.

Not all alt-coins are slated for the same fate. What's the difference here? An active community who's willing to put their money where their mouth is in order to see it get mass adoption. When you have that, technical problems tend to be less of an issue.

they put money in because they have a shitloads of coin, ftc has been good at marketing since the beginning, do you need caps lock and color to understand?

[clint25n]

Hear hear, OP
I really hope Worldcoin will have some future, love the fast transaction time and the 8 hour retarget.
I won't be panicselling my WDC, keep it alive!

+1 and Holding.
With the amount of support Worldcoin seems to have, it will be the only alt coin (today) to contend with LTC/FTC.
I see a lot of FTC members changing teams  

they put money in because they have a shitloads of coin, ftc has been good at marketing since the beginning, do you need caps lock and color to understand?

I personally put a lot of cash in, not coins.
FTC doesn't seem as great at marketing these days, and it may be slightly harder to market feathers than to market Worldcoins.

[CryptoJunky]

For a coin to succeed long term it needs a community supporting it and developing for it. Coins that don't have this risk falling into the whole pump and dump scheme.

[erk]

Hear hear, OP
I really hope Worldcoin will have some future, love the fast transaction time and the 8 hour retarget.
I won't be panicselling my WDC, keep it alive!

+1 and Holding.
With the amount of support Worldcoin seems to have, it will be the only alt coin (today) to contend with LTC/FTC.
I see a lot of FTC members changing teams  

they put money in because they have a shitloads of coin, ftc has been good at marketing since the beginning, do you need caps lock and color to understand?

I personally put a lot of cash in, not coins.

FTC is a miners coin, WDC is a merchants/traders coin, different audience.