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Lucky Cris
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August 19, 2014, 09:31:15 PM |
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Read on guys... This might be the single most valuable piece of advice you'll get on this forum: 99% of altcoins these days exists with the sole purpose in mind of their creators (and community) to bump and then extract BTC from the unsavy/speculators. Do not get fooled by false promises my friends.
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evanito
Member
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Activity: 83
Merit: 10
Your average Bitcoin/Ethereum enthusiast
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August 20, 2014, 04:54:16 AM |
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Altcoins only seem to have the purpose of filling in trade markets on exchanges, offering MANY MANY bull or bear markets allowing investors to transfer their bitcoin over to take advantages of price fluctuations.
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Salmon1989
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August 20, 2014, 08:56:22 PM |
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Definitely yes, there are too many altcoins out there. But don't worry, most of them are dead, dying or will be dead.
There are only just a few altcoins that have real uses other than gambling.
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TimeWatch
Member
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Activity: 83
Merit: 10
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August 21, 2014, 06:37:53 PM |
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Yea there are too , far too many of them. At coin-swap we can get a new coin for 1 btc, or lower rates..Too much saturation after Bitcoin entered.
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CoinDiver
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August 21, 2014, 09:33:07 PM |
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The more alt-coins, the less each one is taken seriously. Alt-coins will be the death of alt-coins. No one can ever have the most important feature of bitcoin, first to market.
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ensurance982
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August 21, 2014, 10:31:59 PM |
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It's so easy to make one, does it make sense? But think about it, Bitcoin and Litecoin are the same thing.
We have too many Altcoins! Definitely. It's purely a question of adoption. A commodity or currency will only be successful if people agree that it's valuable and they can be sure to trade it for other things in the future. I guess 99% of those altcoins won't transfer any real wealth in the future. They're interesting when it comes to new ideas, though... |
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iluvpie60
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August 22, 2014, 01:56:15 AM |
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It's so easy to make one, does it make sense? But think about it, Bitcoin and Litecoin are the same thing.
well that is the consequence of having open soruce. everyone and their mother is going to copy it and say theirs is better. it might be, but its not what is beign used. the more altcoins created the more of a joke it becomes. there really isn't almost any need for more than a few altcoins, but since this is the open market on things like this as many will be created and uses as there is a demand for. |
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Nawaytes
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August 22, 2014, 02:23:54 AM |
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It's so easy to make one, does it make sense? But think about it, Bitcoin and Litecoin are the same thing.
well that is the consequence of having open soruce. everyone and their mother is going to copy it and say theirs is better. it might be, but its not what is beign used. the more altcoins created the more of a joke it becomes. there really isn't almost any need for more than a few altcoins, but since this is the open market on things like this as many will be created and uses as there is a demand for. now many are making new coins because it is very easy to make, but if the coin was just copied from the previous coins and not good in management. definitely the coin will quickly die  |
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Dannie
Legendary
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Activity: 910
Merit: 1000
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August 22, 2014, 07:29:21 AM |
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Again just look at this http://mapofcoins.com/ and tell me that's not nonsense. No single coin will be able to fulfill every market niche nor should it have to, but 3+ coin launches a day is ridiculous. Out of that 550 altcoins, how many you have heard of? May be 10 or 20. On how many of them, you can actually name a special feature of the coin? May be 3 or 5.  |
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Grownwithbtc
Newbie
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Activity: 59
Merit: 0
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August 22, 2014, 07:46:17 AM |
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No It's no good at all and I wonder why exchanges accepts all those dump coins, they will never be anything like bitcoin. I'm Ok with Litecoin and Bitcoin but only 2 and not 1000's alts which are just for pumping money from other ..
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DrG
Legendary
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Activity: 2086
Merit: 1035
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August 22, 2014, 10:11:41 AM |
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No It's no good at all and I wonder why exchanges accepts all those dump coins, they will never be anything like bitcoin. I'm Ok with Litecoin and Bitcoin but only 2 and not 1000's alts which are just for pumping money from other ..
Exchanges typically have nothing to lose other than database management by hosting all kinds of alt-trash. Since they take a 0.2% cut typically it's free passive money for them as long as the wallet is secure. They can dump the alt-trash coins whenever they want for BTC in their own trading systems. Some exchanges promote every single coin possible, some just stick to the older ones. |
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Chompa
Newbie
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Activity: 42
Merit: 0
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August 22, 2014, 10:45:35 AM |
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I don't care the many altcoins. The good ones will remain. It's not that easy to have the good technical skills, devotion to develop, good marketing and community interaction.
It's just important to research the coin you are willing to invest in, don't go in blind or on rumours and hypes, there's so many trolls trying to lure you in the wrong things.
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Yuki1988
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August 22, 2014, 10:49:58 AM |
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No It's no good at all and I wonder why exchanges accepts all those dump coins, they will never be anything like bitcoin. I'm Ok with Litecoin and Bitcoin but only 2 and not 1000's alts which are just for pumping money from other ..
Exchanges typically have nothing to lose other than database management by hosting all kinds of alt-trash. Since they take a 0.2% cut typically it's free passive money for them as long as the wallet is secure. They can dump the alt-trash coins whenever they want for BTC in their own trading systems. Some exchanges promote every single coin possible, some just stick to the older ones. Exactly. Developers create those coins for profits, and they don't care if others will lose in the pump and dump. Exchanges list those coins for profits, and they don't care if others will lose in the pump and dump. |
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Bananana
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August 22, 2014, 10:58:57 AM |
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People have to stop falling into those IPO scam, pump and dump scam and so on.
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Chompa
Newbie
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Activity: 42
Merit: 0
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August 22, 2014, 11:40:19 AM |
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People have to stop falling into those IPO scam, pump and dump scam and so on.
Yes but people also like to invest in the next big thing, new technology and make a big ride (get rich). Pretty much like gambling. Ofcourse it's sad if coins were just created to make people believe it's gonna be the greatest new technology without really trying or awfully failing at it. |
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Yuki1988
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August 22, 2014, 12:00:45 PM |
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People have to stop falling into those IPO scam, pump and dump scam and so on.
Yes but people also like to invest in the next big thing, new technology and make a big ride (get rich). Pretty much like gambling. Ofcourse it's sad if coins were just created to make people believe it's gonna be the greatest new technology without really trying or awfully failing at it. Exactly. Many people have missed the boat for bitcoin, and they can't resist the chance to catch the next big thing that could bring them an extremely high profit. |
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Gnarrrly
Newbie
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Activity: 28
Merit: 0
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August 22, 2014, 12:10:52 PM |
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Yes, why so many? We dont need them
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faiza1990
Sr. Member
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Activity: 420
Merit: 250
★☆★777Coin★☆★
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August 22, 2014, 03:17:02 PM |
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Yes, why so many? We dont need them
But no one can stop them just because of this we have too many and everyday many still coming |
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On1X
Newbie
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Activity: 6
Merit: 0
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August 22, 2014, 06:31:29 PM |
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It's so easy to make one, does it make sense? But think about it, Bitcoin and Litecoin are the same thing.
alt coins should get banned. |
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DrG
Legendary
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Activity: 2086
Merit: 1035
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August 23, 2014, 10:29:18 AM |
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It's so easy to make one, does it make sense? But think about it, Bitcoin and Litecoin are the same thing.
alt coins should get banned. The same way China banned BTC 48 times? There's no reason to ban them if fools don't put their money into them. The pump and dump devs rely on the constant stream of new foolish money. The altcoin section is a zoo now. |
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