Newbies, stay away from altcoins. please

[mishax1]

Just giving you a heads up, 99% of the alt coins are a waste of time and do not fulfill the main concept of the digital currency concept.

Invest only in Bitcoin (BTC) , it has more support and interest than any other coins(projects).

Although you might still find other projects with great support (either in great developers or they are heavily invested by many), like

Litecoin (which suffers from a few big holders that manipulate the price, but you might earn a bit of $ from it in the short range aka mt.gox announce to add it to their trading). and

Mastercoin   /  https://bitcointalk.org/index.php?topic=265488.0;topicseen (which has already been funded with 5000BTC to kick off with the development)


Don't make the same mistake I did wasting my time on other failing alt coins.. 


Hope this info helps you decide where to start.

Good Luck.

[Mike Christ]

I can vouch for this; don't ever trust anyone pushing a coin that isn't Bitcoin (or possible Litecoin.)  The scheme is to create a coin just to short it and abandon it; this requires people to put their time and effort into adopting the altcoin and putting it on an exchange.  It's nothing more than a movement of wealth to the original adopters (sometimes involving a pre-mine) from whoever decided not to cash out.

[SkillfulHacking]

What is the hold up with mt gox adding LTC? I thought it was supposed to happen in August?  They do not seem to be very vocal on the issue.

[r3wt]

hopefully it will be that some of these altcoins would survive and not be just pump and dumps.

if only there were a major vendor(such as bitcoinstore) willing to accept altcoins as payment. i think one big vendor adopting a coin is the difference in it being a pump and dump and gaining support and traction as a digital currency.

[nikona]

i have heard a lot people earning good on trading alt coin

[Maza]

Too late, I sold all my Bitcoin and put them into Litecoin.

Lost some money so far on that investment but I'm planning to hold for a long time so no worries yet. 

[nikona]

Too late, I sold all my Bitcoin and put them into Litecoin.

Lost some money so far on that investment but I'm planning to hold for a long time so no worries yet. 

litecoin can worth something atleast

[rogue13]

I was always suspicious of Litecoins. I got the impression that people are hoarding them in hopes their value will jump like Bitcoin. Without active circulation I don't really see this happening for them.

[rampalija]

i do agree with u guys but ist LTC an alt coin, and if i mine altcoins and i trade them, than i buy some LTC. How that could be wrong. IF some other altcoins have more proffitability than

[Mike Christ]

I was always suspicious of Litecoins. I got the impression that people are hoarding them in hopes their value will jump like Bitcoin. Without active circulation I don't really see this happening for them.

Yeah, Litecoin has even less traction than Bitcoin, and Litecoin's the most popular altcoin by a long shot.  There are a number of believers on here and I do think it can have further usability someday but as it stands, I think we would do better trying to get just one crypto-currency as common place before worrying about another, and Bitcoin takes the cake when it comes to familiarity.

[Netnox]

Only invest in BTC and LTC. You can make good money with both

[nikona]

master coin and pp coin doing good aswell

[Vancityguy]

I find it's only useful to own the alt-coins if your trading on the active markets and follow the bigfish (you have to know who has those large stashs of ltc).  There's ton's of market manipulation but you can make some good money if your sharp. 

I would never consider an alt-coin as a long-term investment, Bitcoin is the best for that hands down.  There may be volatility in it's price but it will increase heavily over time.

[Birdy]

I wouldn't invest in Litecoin either, a lot of other altcoins are far worse though.

Something to read:
http://themisescircle.org/blog/2013/08/22/the-problem-with-altcoins/

[uininPeter]

What is the hold up with mt gox adding LTC? I thought it was supposed to happen in August?  They do not seem to be very vocal on the issue.

I would preffer if MtGox start sending people withdrawals in timely fashion. For now, MtGox is big no no for me.

[Campbxissues]

What is the hold up with mt gox adding LTC? I thought it was supposed to happen in August?  They do not seem to be very vocal on the issue.

I would preffer if MtGox start sending people withdrawals in timely fashion. For now, MtGox is big no no for me.

Yeah, if MtGox can't get dollars out I don't think it would give that much of a boost to LTC.

[ushuai]

Some alts are ok but you need to be careful

[Anillos2]

If You don't like it, don't use it.

I will collect LTC through faucets.

[Red Kendra]

Some alts are ok but you need to be careful

Agree. High risk, high reward. Personally I made a few BTC speculating on PPC and Feathercoin, but you can just as easily lose all of it.

[Neural]

I really don't mind mining alt coins. Investing money into it is one thing, but it doesn't really hurt much to mine a few alt coins. Some of the alt coin projects that are interesting are the ones that aren't simply clones and try new mechanics like Proof of Stake. Yes, many alt coins are merely pump and dump, but some are acting as proof of concepts to try and innovate crypto coin technology and I think those types are worth investing your hash rate into to see how well or poorly the new concept plays out.