End of the ALT coins hype?

[Dallas5]

Looking at the exchanges a lot of alt coins are going down in price.

Many alt coins, you know who they are, are just created to (pre)mine fast and then dump millions and sell as soon as it hits an exchange. The devs earn a few $1000 real dollars and everyone else was tricked into thinking it was going to be the best coin ever, leaving them with coins not even worth a satoshi.

Some coins are looking stable like anoncoin, novacoin, etc. but most of the other coins will die out in a few months and I believe people are getting sick of new coins and the hype will soon be gone.

The only coin still standing strong like a giant and rising to the moon is BTC. It's used in real world stores and even your grandma has probably heard of Bitcoin. Another one is LTC, but that coin looks like a backup coin, ready to take over if anything happens to BTC.

What do you think?

[Nullu]

I think the coin exchanges are going to get a bit more picky from now on. I get the feeling that they don't want coins stuck at a satoshi for weeks on end on their exchanges with nobody buying them.

Either they need to reduce the limit of coins that can be sold as a percentage of the total available for that coin, or stop listing heavily premined highly circulated coins.

[Dallas5]

I think the coin exchanges are going to get a bit more picky from now on. I get the feeling that they don't want coins stuck at a satoshi for weeks on end on their exchanges with nobody buying them.

Either they need to reduce the limit of coins that can be sold as a percentage of the total available for that coin, or stop listing heavily premined highly circulated coins.

They may have some profit from them in the beginning, but as soon as a coin drops below 5 satoshi it's just a waste of bandwidth.

[hypostatization]

I am most concerned by what this may mean for mining. I dislike the trend, but also wonder if it is necessary to sustain mining profitability---assuming the hype itself can best sustained. It leads me to worry that there may be a flaw in the assumption small-scale mining may always be viable. I hope that future innovations help keep mining decentralized.

ASICs, botnets, and disproportionaly powerful pools like ghash.io are all concerns that I hope to see future currencies address.

[Nullu]

I think the coin exchanges are going to get a bit more picky from now on. I get the feeling that they don't want coins stuck at a satoshi for weeks on end on their exchanges with nobody buying them.

Either they need to reduce the limit of coins that can be sold as a percentage of the total available for that coin, or stop listing heavily premined highly circulated coins.

They may have some profit from them in the beginning, but as soon as a coin drops below 5 satoshi it's just a waste of bandwidth.

There's just too many coins. When the preminers have coins in their hundreds of millions that took them a mere hour or two to mine, they're happy to dump them for a Satoshi. The devs are happy also because they also don't mind dumping at a Satoshi. The coin is designed to be quickly sold and quickly discarded. The only ones want to keep it are the people who have fooled themselves into believing it's worth anything. No coin like that stands a chance because by the time it does, the next big copycoin comes along, does the same thing, and it happens all over again. They'll never go up in value if nobody wants to buy them. It's creating a massive inflation wall that takes a long time to break down in a world where a new altcoin is coming out every few hours. They're garbage.

[frambelicious]

I think the same topic was discussed already since the first altcoin was alive, and will be discussed as long as altcoins are issued Think of Terracoin TRC: it was practically dead and is now playing among the big ones.

The current decline is actually not so dramatic, I think. The recent decline of BTC and the big number of new coins (some even showing new features or giving a lesson in marketing) are one factor. I think a bigger factor is this new pooling concept: mine altcoins and sell them directly for BTC, killing the prices for altcoins.

But in the end they still do well.

My view

[bitrebel]

Altcoins are a necessary evil.

[nastybit]

You already said it, alts go down when BTC go up, simple as that and it's the trend we saw many times.
Don't underestimate LTC or scrypt in general, ASICs will be a game changer again

[PinkPotatos]

FRK is accepted in 10 brick and mortar Pawnshops in atlanta georgia and the dev will be speaking to over 200 business owners about the benefits of virtual currency

 oh and he just did an interview yesterday with the news paper in his city.

[decrypter]

<sarcasm>Yes its the end. Sell all your coins.</saracasm>

[Coinsy]

No this is the beginning.

[kalus]

Coinye finds your lack of faith disturbing.

[kelsey]

I think the coin exchanges are going to get a bit more picky from now on. I get the feeling that they don't want coins stuck at a satoshi for weeks on end on their exchanges with nobody buying them.

I get the feeling cryptsy was happy with the profits it got from the likes of doge that they'll gladly keep adding any crapcoin for shortterm gain.

Lets welcome all the new members from NYTimes and business journals articles then dump the shit on them forget longterm viability of cryptos lets just make a quick buck out of the suckers

[black_swan]

kelsey, why not?
Better teach them quickly or they might get owned later in the game

[defaced]

I think the coin exchanges are going to get a bit more picky from now on. I get the feeling that they don't want coins stuck at a satoshi for weeks on end on their exchanges with nobody buying them.

I get the feeling cryptsy was happy with the profits it got from the likes of doge that they'll gladly keep adding any crapcoin for shortterm gain.

Lets welcome all the new members from NYTimes and business journals articles then dump the shit on them forget longterm viability of cryptos lets just make a quick buck out of the suckers

its been getting progressively worse that is for certain.

[BTCat]

End of the ALT coins hype?

Is that a joke? It's in full swiiiiiiiing !!! GME is gonna rocket     

[hvezdasmrti]

True if you speak about mining. The old strategy "mine new coin at low diff, wait, sell when price peaked, jump at another potential crapcoin" doesnt work anymore. Now it is: "mine new crapcoin, dump fast for every price until it will be worth 0 satoshi and in the best case you will get the same profit like if you mined something 6 months old".

The alt coin hype imploded into itself - there are so many crapcoins that the community is unable to do anything else than read thousands of pages of promoting 0 value craps and spam. No real value, poor buying power. We need to stop that. Forbid new crapcoin announcement and set a fee for announce + give IP address/network ban for everybody who will try to bypass that.

[Kungfucheez]

Not everyone can be a winner, that's just nature. Someone's gotta lose in order for someone else to win. Only time will sort out the coins that last and the ones that die off. So...that's one good bit of news I guess 

[traderCJ]

Oh this scumcoin shit will never end.

[Nullu]

Personally, I'm both investing in altcoins I think have a genuine future, and using the funds I acquire from dumping new coins by either trading for the coins I want directly, or selling them directly for BTC and then buying the coins I want to invest in.

Considering this is just a hobby for me in my spare time, I can wait for my dividends. I've just got to know when not to be a bag holder or a weak hand.