Newbies, stay away from altcoins. please

[Speculator7]

Pshhh, nonsense. I made over 30% yesterday trading my favorite alt coin. I'm not going to say which one it is because I don't want people thinking I'm just bsing to promote it. There is plenty of opportunity to make money with them ,but you have to know what your doing. You can't just arbitrarily by them at whatever price they are going for and expect huge return. You have to analyse fundamentals, popularity, and the technical aspects of it first and base your entry/exit points on that.

[feebs]

namecoin and ppc are good for trading at least in my experience

namecoin's goal of distributed dns sounds good but i do not know any popular site who uses it or if it functions at all

[OKNXT]

No innovation, no value.

[yoandrey]

In my opinion is same like big companies ,there are those big one like apple and samsung ans small one like alview ,put at a point if people invest in the small ones ,they can get big like huawei did . At one point people will lose intrest in bitcoin and move to and other currency.

[reannypleas]

In my opinion is same like big companies ,there are those big one like apple and samsung ans small one like alview ,put at a point if people invest in the small ones ,they can get big like huawei did . At one point people will lose intrest in bitcoin and move to and other currency.

Cryptocurrencies are not stocks, you dont invest buying coins so the Cryptocurrencies can use more money for growing business, you buy the coin if you see some value in the coin so you can use it (spend, sell)

[dustofdeath]

im kind of wondering if the thread was actually made t o stop people from mining altcoins - so they could actually mine more of them at lower difficulty.

There is nothing wrong with taking some risks with altcoins. Bitcoin was  a huge gamble and risk early on as well.

[Blair Hullichan]

yet you're wasting your time here giving warnings lol

[jzcjca00]

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. 

Successful investors focus on where they think the price is going, not on where it has been.  They do not hesitate to sell, whether at a loss or a profit, if they don't see an investment heading up.

Bitcoin is the money of the future.  Beware of the imitators.

[data297]

I'm not sure I agree with the post. Bitcoin isn't really a currency. It's more of a commodity. It's also deflationary. So when demand stays the same price goes up. Other currencies will have the same problem, but since they might have a larger cap it will take longer to reach. As with anything do your own research. Consult several sources. 

[ariolis30]

I'm not sure I agree with the post. Bitcoin isn't really a currency. It's more of a commodity. It's also deflationary. So when demand stays the same price goes up. Other currencies will have the same problem, but since they might have a larger cap it will take longer to reach. As with anything do your own research. Consult several sources. 

i agree, as with anything do your research.  esp. with this your going in knowing your taking a chance.  sometimes you win sometimes you lose but to me its worth a shot atm. 

[hilariousandco]

I'm not sure I agree with the post. Bitcoin isn't really a currency. I

It is a currency. What makes it not a currency in your opinion?

[Kiawef]

I think the altcoins serve a purpose to make the bitcoin stronger overall through innovation.

[samwan]

Why not give new alt coins a chance? You never know.

You can even find lots of rubbish behind the "solid" coins like LTC, NMC etc

Greets

[topshibedoge]

The problem is unless you've got some ridiculous ASIC miner, which 99.999% of people don't, BitCoin is just too difficult to mine anymore. I like the altcoins popping up, it gives people a chance to get in early on something that may (or may not) take off and make some real money or trade for BTC if said altcoin gains a bit of traction. Just look at Dogecoin!

[data297]

I'm not sure I agree with the post. Bitcoin isn't really a currency. I

It is a currency. What makes it not a currency in your opinion?

It's value fluctuates way to much no stable currency acts that way. It seems more of an speculative investment, then a medium of exchange. Most people who buy/mine it are hoping the price goes up. They don't buy it so they can make purchases. I know several merchants do accept bitcoin but % of bitcoins used to buy stuff is tiny.

[slithzerikai]

All these coins seem more like an imaginary stock market then actual currency. Value of an currency doesn't increase when there is a increased interest, the stocks do.

[topshibedoge]

Altcoins can pay off. I got in very early on Dogecoin mining with modest hardware and recently pocketed $500 USD selling it on Reddit and eBay. So, in conclusion $500 in a couple weeks for doing basically nothing but providing GPU/CPU power ain't a bad deal. 

[lvtdcns2014]

Altcoins can pay off. I got in very early on Dogecoin mining with modest hardware and recently pocketed $500 USD selling it on Reddit and eBay. So, in conclusion $500 in a couple weeks for doing basically nothing but providing GPU/CPU power ain't a bad deal. 

I agree.

[MAbtc]

Just don't be a pig. Pigs get slaughtered.....

[drogoul]

I understand OP's statement, and I would agree to warn new crypto-fans to invest heavily in new coins. The risks are just too high to bet serious money. On the other hand -- if you have the time and/or money to spend -- it's fun! I'm playing around with a bit of cash I can lose.. and it's fun to be part of budding crypto-communities.

Despite all the big ambitions, don't take alts too seriously. If one or more alts make it to the mainstream, just be sure you have a wallet full of those silly coins :-)