Who are the dummies buying coins as soon as they come out ?

[fenican]

It seems that for every slightly innovative new coin there are a swarm of naive "investors" willing to pay a 50x premium for the coin relative to where it will ever trade on an exchange.

Why do they do this?  Is this a form of charity?

Or are they just dumb ?

Latest example is primecoin.  Why are people paying 10 LTC for coins that some guy minted in one night on an i5?  Guys - the value of that much compute power is maddeningly close to zero.  You're getting ripped off

[vingaard]

It seems that for every slightly innovative new coin there are a swarm of naive "investors" willing to pay a 50x premium for the coin relative to where it will ever trade on an exchange.

Why do they do this?  Is this a form of charity?

Or are they just dumb ?

Latest example is primecoin.  Why are people paying 10 LTC for coins that some guy minted in one night on an i5?  Guys - the value of that much compute power is maddeningly close to zero.  You're getting ripped off

And... where is the problem?... this is the free market base... Whether I have a product and another one have money to buy that product and both decide a good arrangement... I ask you... where is the problem?

[shakezula]

Your argument is spot on for clones, cloners, scryptclones, PoSclones, (*nearly* every coin released in the last 8 weeks) but XPM is something BRAND NEW from a well known developer who already has a "major" currency in the wild.

I'd say its worth speculating on, much more so than most!

[daggerismo]

It seems that for every slightly innovative new coin there are a swarm of naive "investors" willing to pay a 50x premium for the coin relative to where it will ever trade on an exchange.

Why do they do this?  Is this a form of charity?

Or are they just dumb ?

Latest example is primecoin.  Why are people paying 10 LTC for coins that some guy minted in one night on an i5?  Guys - the value of that much compute power is maddeningly close to zero.  You're getting ripped off

i asking you... is your money what they are spending on it???

[A L I E N]

It seems that for every slightly innovative new coin there are a swarm of naive "investors" willing to pay a 50x premium for the coin relative to where it will ever trade on an exchange.

Why do they do this?  Is this a form of charity?

Or are they just dumb ?

Latest example is primecoin.  Why are people paying 10 LTC for coins that some guy minted in one night on an i5?  Guys - the value of that much compute power is maddeningly close to zero.  You're getting ripped off

Hilarious post, quite the inner struggle you are having..