Dangerous to invest in new Altcoins?

[niothor]

I think there are a few good alts out there at the moment - Anoncoin looks very promising and I have a stash of them waiting for the price to skyrocket.....

Oh really , and why would it skyrocket?
Any solid arguments?

Sorry, the ...... after skyrocket was meant to imply that I actually have no idea 

I was 99% sure of it , but i like to test people that believe every insertnameherescamcoin is the next big thing.

[luqash3]

Sorry Mauerbrecher I am not sure about altcoins but I guess it’s a good time to invest in crypto-currencies as they are full of potential these days> I myself have invested large amount in bitcoins and yeah for sure I will research on altcoins too. If they seem good I shall invest myself and shall even inform you guys on this forum.

[burnum]

Hi Burnum. Yes I read a lot that altcoins are dangerous. I see the ridiculous rises and falls in the charts. Now this with QRK. I bought QRK, but then people said this Keiser report with Bill Still would be a pump before the dump. Seeing the charts, you actually see the dump. Today I woke up and booted the PC, saw that NXT had risen about 200%. I could cash out with a 4 times profit of my initial input. However, I chose to cash only my input and continue with still keeping the rest of the coins (seen the value of each coin quadripled). Next thing I noticed was that many people started to sell NXT. I watched the sales carefully and saw people just going lower and lower with their selling prices, unintentionally "dumping" the value of their coin.

Now you could say that the altcoins are just there for pump and dump, which could be partially true. However, every altcoins (even BTC) could be seen as a pump and dump, because of the crazy increases and decreases of their value. While the problem lies with the owners of the coins themselves. When they see the coin has risen in value, each of them gets the look of $_$ in their eyes and tries to sell an x amount of their coins. Because people buy the cheapest coin, everyone is going to lower their prices, yielding a decrease of the coin value.

I almost bought NXT, its not easy trading altcoins, how can a person really know what is going to happen? With the Keiser report and the QRK pump and dump, it was hardly anything at all, also happens all the time with stocks in the same manner. Now bitcoin.. wow, someone is making alot of money when it drops and rises.

[freewebsaccount1]

Unless you really believe in them its probably just better to pump and dump. Dogecoin is forever though.

[brokedummy]

I just started this bit coin thing. I never mined anything before. I did buy 6000 doge coins. Is this good or bad?

[kolibes56]

I dont believe in any other coin than bitcoin.

[bitpop]

I just started this bit coin thing. I never mined anything before. I did buy 6000 doge coins. Is this good or bad?

Look in the mirror, read the name on your coin aloud. Repeat.

[Lala]

Of course thats why I never put in money, just mine.

[vlight]

Well, of course it is dangerous to invest in altcoins. BUT, i also believe that  investing in new coins that offer innovations and have good marketing behind them are worth taking the risk. Also, if you can jump into the ship before the market cap of the coin is less that $1M you should be relatively safe.

The thing is that the market is currently very hot and people are willing to put huge amounts of money into it.

[bitpop]

Yup

[Pasco60]

I don't feel that Doge hase a bright future ahead, but some were able to make a nice profit out of it 

[Jcw188]

Yeah you wouldn't want to "invest" in alts especially new ones unless you thought it was going to do something really different and new from other coins. Other the more established coins probably have a shot at doing something for you. Look at btc, it did nothing for a while and took time to establish.

[axxian]

I'm a scrypt miner. Personally I just solo mine most new coins that has enough interests and will make it to an exchange for me to dump.

If your not a miner than I would suggest not buying straight into an altcoins.

[Pasco60]

NXT might be worth an investment, as the system is kinda different and there is also much buzz around NXT.
I see a big chance there..

[datbox]

Which altcoin has potential  to be the next star beside litecoin and namecoin?

[EmeraldElement]

Hey all, first post and I'm stuck here with you all, so bear with me on my ramblings.

Altcoins are just that, alternatives. I'm very new to this, but I'm pretty sure the people that happened to buy into BTC when it was $1200 are looking to diversify just a little now. Until there are more direct-exchange sites between each coin and USD/EUR, of course everything will be funneled through BTC and their values will be on a short leash. But what will happen when there is a user-friendly way to buy for example, DOGE?

On a side note, the ones who are really winning out from this phenomenon are hardware manufacturers. Their products suddenly turned into solid gold before their eyes.

For me personally, I'll be trying a few different cryptos to mine casually before I invest any cold hard cash, but we are forging the path for the future 'universal' net currency, whichever one it pans out to be, so enjoy the ride.

[Inboxia]

If you wanna do it long-term, better to stick with BTC

[grendel25]

Here's what I've seen so far:

1.  Alt coins make entry into the crypto currency game more possible to those who otherwise couldn't afford larger coins.  It's much easier to get the alt coins and then convert them to other coins.

2.  Arguments saying that you should only go for bitcoin should be viewed skeptically.  These arguments may be from folks that have more interest in you going for bitcoin because they themselves are invested more into bitcoin.

3.  All crypto currency is developing.  Litecoin is starting to gain some ground on bitcoin in that some vendors are accepting it as currency.  There's a website that lists vendors and what coin they accept.  Google search for vendors that accept litecoin

So what I've seen is that crypto currency has as much value as what it can be used for.  For now, the value of altcoins is to trade and exchange for other coins that I may be able to use to purchase some other goods and services.

Also consider traditional world currencies.  Think about the regulatory bodies over these currencies: The World Bank and International Monetary Fund.  This is an important aspect of our lives because they have the affect of regulating currencies which in turn impacts big things like labor costs which affects unemployment which affects quality of life for many people.  Similarly, altcoins make achieving the bitcoin dream possible by giving crypto immigrants an opportunity. 

We aren't 'just' newbies, we are also the second wave or next generation of cyber laborers. 

[dewdeded]

I don't invest in Altcoins.  I mine the new ones that show promise.  

This.

[young3dvard]

If you wanna do it long-term, better to stick with BTC

I agree, I GPU mine new altcoins and sell for Bitcoin when the price seems high after initial rise