The End of Alt Coins

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If you really believe the well-established alts are dying, feel free to keep selling me your coins. I'll be laughing all the way to the bank in a few months

If it were that easy we would all be millionaires.

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[coolbeans94]

alt-coins are worthless because they don't have new groundbreaking features.

This is the most incorrect statement ever.

For example: PPC is more energy efficient, secure against 51% attack, and enforce transaction fees at protocol level to defend against block bloating attacks.  Bitcoin's network is actually a huge waste of energy, and will become less and less attractive as time goes on, less secure as time goes on, and eventually get block bloated. Peercoin has "Significant" innovation above and beyond bitcoin.

[klee]

Anoncoin does great! 

[David Rabahy]

alt-coins are worthless because they don't have new groundbreaking features.

This is the most incorrect statement ever.

For example: PPC is more energy efficient, secure against 51% attack, and enforce transaction fees at protocol level to defend against block bloating attacks.  Bitcoin's network is actually a huge waste of energy, and will become less and less attractive as time goes on, less secure as time goes on, and eventually get block bloated. Peercoin has "Significant" innovation above and beyond bitcoin.

Hmm, it's my understanding that Bitcoin can modified/enhanced to adopt innovations, no?

[d5000]

@David Rabahy: Some innovations from altcoins surely can be adopted by Bitcoin. But a feature like Proof-of-Stake that touches the basic functionality of BTC would be very difficult to adopt. It's not impossible, but the dev team would have a hard time to communicate such a change to the stakeholders.

One of the reasons why it would be so hard is that Proof-of-Stake is not possible with a fixed limit for the amount of coins like the 21 million limit of BTC. A PoS coin would increase its supply infinitely. One can achieve some stability in coin supply by destroying transaction fees (like PPC) but a "hard limit" is not possible.

[alex0909]

Well, from my point of view, the fact that altcoins crash is due to the rise of bitcoin, that's easy to get.
Thus investing with bitcoins into altcoins in later steps of the development of these (I mean when they are overvalued) can only bring to a loss in the actual context.

I think their is a demand for altcoins, and few of them will succeed, but for this there should be an easy and simple way to trade USD to altcoins.

When bitcoin rises, it's normal for altcoins to crash, the opposite would be weird. It's just fundamentals. Being tied to the btc value is a real problem.

I guess altcoins will take a huge step forward when they will be traded for USD/EUR/YEN... Imagine if you could buy a bunch of coins for 1$, without spending your beloved BTC.

I think cryptsy was planning on this, but it's too early to tell, in the future i really see a marketplace where you can get alts for cents/dollars. Like their was for bitcoin at the begining.
And i would be the first one on it.

[vindimy]

I am sad to say that we are now entering the endtimes for alt coins. Nobody wanted alt coins to succeed more than me, but it has now become clear that they are nothing more than a failed experiment. Alt coins are crashing across the board, everything from litecoin (down 7.92%), namecoin (down 17.2%), peepeecoin (down 12.83%), novascamcoin (down 4.17%), feathercoin (down 10.79%), primecoin (down 25.31%), and terracoin (down 24.32%). These figures are REAL figures pulled from coinmarketcap.com.

This post is a public service announcement designed to help those of you still clutching your worthless alt coins to sell them for bitcoin ASAP and save yourself a lot of heartache. Just get rid of them, close this useless altcoin subsection, and go buy some BFL asics if you really want to mine something.

Why don't you just shut your pie hole instead of trying to manipulate as many people as you can into selling? Your pathetic post is so immature and pointless, I can't believe shit like this is even allowed to stay on this forum.

"Public service announcement?" LOL. You don't even know the meaning of that phrase. Get the fuck outta here.

[Habeler876]

too risky to be in alt-coins right now... btc is in a bit of a correction but once we shoot past 167 i don't want to be anywhere near alts

[defaced]

For every seller there is a buyer.

[limbaugh]

too risky to be in alt-coins right now... btc is in a bit of a correction but once we shoot past 167 i don't want to be anywhere near alts

Alts are only good for one thing now days - mining. And even that is drying up. That leaves zero reason for alts to exist.

You would have to be insane to hold any alts at this point.

[QuantPlus]

Peercoin's price is skyrocketing, imo will replace btc within 5 years. PPC just had a correction that's why it just went down, it is still up 40%+ since last month.

.This is not the endtimes for alt coins? This is just the beginning. BTC has limitations, altcoins will solve these problems in their own specific ways.

Not sure if PPC or XPM...
But one of them will take a run at LTC (right now the Whales love XPM).

Alt Coin Market Cap (less LTC) = $20,000,000.

Alt trading culture is just starting to take shape...
It's absolutely fascinating compared to just scalping BTC...  
That $20 million will explode in the next 6-12 months.

[Habeler876]

too risky to be in alt-coins right now... btc is in a bit of a correction but once we shoot past 167 i don't want to be anywhere near alts

Alts are only good for one thing now days - mining. And even that is drying up. That leaves zero reason for alts to exist.

You would have to be insane to hold any alts at this point.

so you don't think any of them have the potential to survive? with no real economy, btc too was all speculation for quite some time.

[limbaugh]

too risky to be in alt-coins right now... btc is in a bit of a correction but once we shoot past 167 i don't want to be anywhere near alts

Alts are only good for one thing now days - mining. And even that is drying up. That leaves zero reason for alts to exist.

You would have to be insane to hold any alts at this point.

so you don't think any of them have the potential to survive? with no real economy, btc too was all speculation for quite some time.

Maybe, but with 70 or whatever on Cryptsy can you pick a winner? You might get lucky but why bother when there are many opportunities in the BTC culture.  There is simply no reason for an alt coin to catch on nor will there be in the near future.

[klee]

Did I spam this thread on Anoncoin? Oh yes, sorry!...

[DeathAndTaxes]

One of the reasons why it would be so hard is that Proof-of-Stake is not possible with a fixed limit for the amount of coins like the 21 million limit of BTC. A PoS coin would increase its supply infinitely. One can achieve some stability in coin supply by destroying transaction fees (like PPC) but a "hard limit" is not possible.

Of course it is.  Just because PPC chose not to go that route doesn't make it impossible.  It was a design CHOICE not a requirement.

[theonewhowaskazu]

Thank god. If these things had come even close to being as popular as Bitcoin then the entire cryptocurrency experiment would be dead forever.

[Balthazar]

One of the reasons why it would be so hard is that Proof-of-Stake is not possible with a fixed limit for the amount of coins like the 21 million limit of BTC. A PoS coin would increase its supply infinitely. One can achieve some stability in coin supply by destroying transaction fees (like PPC) but a "hard limit" is not possible.

Of course it is.  Just because PPC chose not to go that route doesn't make it impossible.  It was a design CHOICE not a requirement.

The security model is based on coins (coin*days), it needs some coins amount to function properly. Non-deterministic supply is not a choice, it's a security requirement. Otherwise there will be no protection against massive coins destruction/lost wallets/whatever, i.e. no security in the long-term.

[Carra23]

too risky to be in alt-coins right now... btc is in a bit of a correction but once we shoot past 167 i don't want to be anywhere near alts

It was a high risk high reward scenario. Those who could can cash out right now with massive profits.

[mr_random]

Expert tea leaf analysis is expert.

[ninjarobot]

I see. Interesting... So you are saying it goes UP and DOWN and UP and DOWN and UP and DOWN? A remarkable insight indeed!

Of course the orange arrow only goes UP and not DOWN. Because. It. Is. Orange. Correct?