Altcoins dying????

[DarkMiningBTC]

there is something wrong with doge when it comes to the "most profitable list"...

coinwarz, and I just saw that, lists doge with 45 satoshi on cryptsy....

but doge is 30 now and 28 on coinex, and it has not moved one bit.

I've checked both exchanges and the last 12h. was not even above 35....

shenanigans? bug?

that certainly explains why multipool is still mining doge...

This coming from the same person promoting Earthcoin in this thread...just shut up already we get it, you like Earthcoins

hey bro, he's just sharing valuable information, I find it helpful.

[DarkMiningBTC]

there is something wrong with doge when it comes to the "most profitable list"...

coinwarz, and I just saw that, lists doge with 45 satoshi on cryptsy....

but doge is 30 now and 28 on coinex, and it has not moved one bit.

I've checked both exchanges and the last 12h. was not even above 35....

shenanigans? bug?

that certainly explains why multipool is still mining doge...

ya, I noticed too wow lol I think I'll start mining earthcoin, but wondering just when or IF it will hit cryptsy.

[testbitcoiner]

there is something wrong with doge when it comes to the "most profitable list"...

coinwarz, and I just saw that, lists doge with 45 satoshi on cryptsy....

but doge is 30 now and 28 on coinex, and it has not moved one bit.

I've checked both exchanges and the last 12h. was not even above 35....

shenanigans? bug?

that certainly explains why multipool is still mining doge...

This coming from the same person promoting Earthcoin in this thread...just shut up already we get it, you like Earthcoins

you basically call me a liar, yet you had the choice to either ckeck if what I said was true, or to flame me... you know what kind of people pick "flame" in such a situation?

people who do not care about truth. people who just care about what makes them feel better.

edit: doge is back to actual exchange prices on coinwarz... but from now on, I'll recheck prices of the top coins. I can not understand how in an automated system such a dramatically different price can appear...

[testbitcoiner]

there is something wrong with doge when it comes to the "most profitable list"...

coinwarz, and I just saw that, lists doge with 45 satoshi on cryptsy....

but doge is 30 now and 28 on coinex, and it has not moved one bit.

I've checked both exchanges and the last 12h. was not even above 35....

shenanigans? bug?

that certainly explains why multipool is still mining doge...

ya, I noticed too wow lol I think I'll start mining earthcoin, but wondering just when or IF it will hit cryptsy.

I saw a screenshot of the conversation on skype.... so I know BigVern is gonna add EAC. we don't have an exact date, though. but it sounded like early this week... but it will happen, even if it takes a day longer

[Anubite]

I still have to wonder if people are starting to realize altcoins are almost always just traded for BTC.

Maybe scrypt based coins are slowly being rendered worthless by investors in BTC, and useless by exchanges who refuse to trade them for fiat directly. CGMiner already stopped supporting GPUs, too. It's just worrisome.

I kind of feel BTC holders are a little elitist, too. Like scrypt miners are as worthless as their coins.

[testbitcoiner]

I still have to wonder if people are starting to realize altcoins are almost always just traded for BTC.

Maybe scrypt based coins are slowly being rendered worthless by investors in BTC, and useless by exchanges who refuse to trade them for fiat directly. CGMiner already stopped supporting GPUs, too. It's just worrisome.

I kind of feel BTC holders are a little elitist, too. Like scrypt miners are as worthless as their coins.

you're 100% correct. it's an elitist little bunch. that cgminer guy could just continued support in a second miner... but he didn't

BTC guys think just cause they spent 10000$ on asics, they are something better...

what is going to happen is that litecoin will slowly catch up to BTC and a couple of other scrypt coins will rise in value as a replacement for litecoin in some situations (EAC has the fastest transaction speed of any coin atm, so in special circumstances, this might be preferred) or some coin that has some other unique thing people want...

basically BTC will look down on scrypt until people realize they do not want to wait 2 hours for a BTC transaction (and that's where we're rapidly going with BTC) and they do not want 100GB of transaction data on their harddrives

and they do not want every damn transaction in an accessible list for everyone to read.  ----> scrypt coins that are more anonymous like anoncoin

scrypt is going to happen to BTC like BTC happened to fiat currencies. first quiet and slowly, then fast and ugly

[Morticio]

new meme coin die, https://coinedup.com/OrderBook?market=CAGE&base=BTC  only 1 hour on coined-up and it's finish... like dime some day ago...

[decrypter]

new meme coin die, https://coinedup.com/OrderBook?market=CAGE&base=BTC  only 1 hour on coined-up and it's finish... like dime some day ago...

Thank goodness. Now we need all the other joke currencies to die too. Market efficiency!

[kelsey]

I still have to wonder if people are starting to realize altcoins are almost always just traded for BTC.

Maybe scrypt based coins are slowly being rendered worthless by investors in BTC, and useless by exchanges who refuse to trade them for fiat directly.

dunno as a trader I hold a significant percentage of most the top alts yet hold little btc , the main exchanges I use trade alts for fiat directly (not that I care much for fiat either).

[DarkMiningBTC]

I still have to wonder if people are starting to realize altcoins are almost always just traded for BTC.

Maybe scrypt based coins are slowly being rendered worthless by investors in BTC, and useless by exchanges who refuse to trade them for fiat directly. CGMiner already stopped supporting GPUs, too. It's just worrisome.

I kind of feel BTC holders are a little elitist, too. Like scrypt miners are as worthless as their coins.

you're 100% correct. it's an elitist little bunch. that cgminer guy could just continued support in a second miner... but he didn't

BTC guys think just cause they spent 10000$ on asics, they are something better...

what is going to happen is that litecoin will slowly catch up to BTC and a couple of other scrypt coins will rise in value as a replacement for litecoin in some situations (EAC has the fastest transaction speed of any coin atm, so in special circumstances, this might be preferred) or some coin that has some other unique thing people want...

basically BTC will look down on scrypt until people realize they do not want to wait 2 hours for a BTC transaction (and that's where we're rapidly going with BTC) and they do not want 100GB of transaction data on their harddrives

and they do not want every damn transaction in an accessible list for everyone to read.  ----> scrypt coins that are more anonymous like anoncoin

scrypt is going to happen to BTC like BTC happened to fiat currencies. first quiet and slowly, then fast and ugly

do you suspect EAC will be as profitable as most alt coins were last week , around $30-40 a day for rigs as small as 1.5 MH/s? I really like EAC's transaction times as well

[Anubite]

I hope things turn around, but I don't have high hopes.

I guess GPU mining is now unprofitable at current electrical costs. Might as well spend the fiat on straight coins.

GG altcoins. You were fun while you lasted.

[moleculecoin]

I still have to wonder if people are starting to realize altcoins are almost always just traded for BTC.

Maybe scrypt based coins are slowly being rendered worthless by investors in BTC, and useless by exchanges who refuse to trade them for fiat directly. CGMiner already stopped supporting GPUs, too. It's just worrisome.

I kind of feel BTC holders are a little elitist, too. Like scrypt miners are as worthless as their coins.

you're 100% correct. it's an elitist little bunch. that cgminer guy could just continued support in a second miner... but he didn't

BTC guys think just cause they spent 10000$ on asics, they are something better...

what is going to happen is that litecoin will slowly catch up to BTC and a couple of other scrypt coins will rise in value as a replacement for litecoin in some situations (EAC has the fastest transaction speed of any coin atm, so in special circumstances, this might be preferred) or some coin that has some other unique thing people want...

basically BTC will look down on scrypt until people realize they do not want to wait 2 hours for a BTC transaction (and that's where we're rapidly going with BTC) and they do not want 100GB of transaction data on their harddrives

and they do not want every damn transaction in an accessible list for everyone to read.  ----> scrypt coins that are more anonymous like anoncoin

scrypt is going to happen to BTC like BTC happened to fiat currencies. first quiet and slowly, then fast and ugly

I don't know about it being elitest so much as not spreading too thin.  cgminer is open source, anybody can pick it up and fork it from 3.7 and continue maintenance and developing GPU support.  So far I don't know that there is much that needs to be done to 3.7, its been working fine for me at least.

Some of us, I would suspect a lot of us, are enthusiasts in general and into all the cryptos.  I just bought a bunch of ASICs, I made some coins, I also mine scrypt coins, its all part of the hobby.

Scrypt coins have been like printing money lately.  I don't have a ton of scrypt hashpower (I only have an HD6850), but I was able to get a nice stake in DOGE right at the beginning, and I've done alright playing with mining some other coins.

But the problem with scrypt coins is almost that they are too accessible.  Once scrypt ASICs come out the game is going to shift again and the days of every pimple-faced teenage gamer mining meme scrypt coins will go away.  That said, once that happens somebody will come up with something to take its place.  There is simply too much demand in the market for gpu-minable coins that people can play around with.

In my opinion scrypt isn't going to "happen" to BTC.  I think BTC is it's own worst enemy.  I think we're going to see more innovation this year.  I also personally believe that Bitcoin itself is going to become irrelevant and be completely displaced within 5 years.  Bitcoin==linux.  Somebody is going to make Windows.  Yeah, yeah I know all the stuff about Winblows, but I'm talking from a business perspective, putting aside ideology.

Somebody is going to reinvent the blockchain concept in a way that fixes a lot of the deficiencies.  The real winner or "Windows" of coins is going to be the one that enables rapid scaling of the ecosystem through more accessible APIs and software that is more understandable and more flexible in terms of deployment architectures.

The problem with Bitcoin is that there is too much ideology/academia/holier-than-thou stuff going on, and business doesn't care about any of that.  Now that cryptos are starting to attract the attention of the larger business world, the market will drive it in its own direction and will solve problems on its own, regardless of the opinion of the ideologues. 

The killer app that I am waiting to see appear is the self-service alt-coin exchange.  A cryptsy where coin authors or enthusiasts can register whatever coin they want to see trade-able, upload a wallet for validation and automated setup or point it at a github repo, and create a market on-demand.

I'm also waiting to see somebody create the InvestorsHub of cryptos.  I would do it myself if I didn't already have too many projects.  Somebody will build it.

[digicoin]

there is something wrong with doge when it comes to the "most profitable list"...

coinwarz, and I just saw that, lists doge with 45 satoshi on cryptsy....

but doge is 30 now and 28 on coinex, and it has not moved one bit.

I've checked both exchanges and the last 12h. was not even above 35....

shenanigans? bug?

that certainly explains why multipool is still mining doge...

multipool is stupid. They are losers

[traderCJ]

The truth is that these alt coins are really only as useful as their adoption rate.  In the long run, this adoption rate will be 0.  None of them offer enough to surpass the infrastructure and hype surrounding Bitcoin.  Also, the flood of altcoins will only get worse.  It will dilute the market and make them all equally worthless over the long run.  Miners will simply migrate from scumcoin to scumcoin to maximize profits.  Thus, their support infrastructure is merely an illusion.  I think this is a good thing .. good riddance.  Only a few unrealistic investors actually believe <insert coin name here> is here to stay.  This is all just a scheme for speculators like me to make profits while the making is good and enrich some coin developers.  Sorry guys.  That being said, alt coins will never die, because people love to gamble.  But that's all it will become .. pure gambling in hopes of catching a pump and dump before everyone else does.  Might as well put $2000 on red.

[digicoin]

Do you think that EarthCoin will take over Litecoin's position in a year? LiteCoin is good for microtransaction. EAC is even better

[digicoin]

The truth is that these alt coins are really only as useful as their adoption rate.  In the long run, this adoption rate will be 0.  None of them offer enough to surpass the infrastructure and hype surrounding Bitcoin.  Also, the flood of altcoins will only get worse.  It will dilute the market and make them all equally worthless over the long run.  Miners will simply migrate from scumcoin to scumcoin to maximize profits.  Thus, their support infrastructure is merely an illusion.  I think this is a good thing .. good riddance.  Only a few unrealistic investors actually believe <insert coin name here> is here to stay.  This is all just a scheme for speculators like me to make profits while the making is good and enrich some coin developers.  Sorry guys.  That being said, alt coins will never die, because people love to gamble.  But that's all it will become .. pure gambling in hopes of catching a pump and dump before everyone else does.  Might as well put $2000 on red.

Bitcoin's block chain scalability is questionable. It is not fast and scalable enough technically. Can it be a single point of failure when it becomes more popular? It is too risky to rely on a single block chain (simply put, a single bank for the whole world) for payments. I think that the world needs 2 or 3 block chains (altcoins) to spread the work load or risk

[DarkMiningBTC]

there is something wrong with doge when it comes to the "most profitable list"...

coinwarz, and I just saw that, lists doge with 45 satoshi on cryptsy....

but doge is 30 now and 28 on coinex, and it has not moved one bit.

I've checked both exchanges and the last 12h. was not even above 35....

shenanigans? bug?

that certainly explains why multipool is still mining doge...

multipool is stupid. They are losers

Couldn't agree more, it pays you 4x less than what you would make if you stuck with one coin.

[decrypter]

The alt-coins are not dying. The spreads are adjusting themselves to account for BTC rise in price. It is as simple as that. If you want more info, I wrote about it: here

And there were alt coins that actually did gain against BTC this weekend, I wrote about them as well: here
But very few people here appear to look at the markets broadly. Most just tend to focus on the coin they have the greatest quantity of.

The truth is that these coins are really only as useful as their adoption rate.  In the long run, this adoption rate will be 0.  Also, the flood of altcoins will only get worse.  It will dilute the market and make them all equally worthless over the long run.  Miners will simply migrate from scumcoin to scumcoin to maximize profits.  Thus, their support infrastructure is merely an illusion.  I think this is a good thing .. good riddance.  Only a few unrealistic investors actually believe <insert coin name here> is here to stay.  This is all just a scheme for speculators like me to make profits while the making is good and enrich some coin developers.  Sorry guys.  That being said, alt coins will never die, because people love to gamble.  But that's all it will become .. pure gambling in hopes of catching a pump and dump before everyone else does.

I agree with most of what you said, however I believe that alt coins are sort of a sandbox. I believe in BTC and am sure it will continue to rise, however I believe that it is not flawless and another coin will emerge which will supplant it. Surely that coin will come from the alt coin scene. Currently there are a few alt-coins which are not scams which are actually trying to gain acceptance. Currently the alt-coin scene is like the wild west, it is completely unregulated and tons of scams are abound and everyone is looking for an instant get rich scheme. However, there are people out there that can and will innovate. Those that truly believe in digital currency as the future, not merely as ploy to confuse people with technical jargon in hopes of getting them to hand over thier money. The people who are in it just to scam and make a quick buck (I won't name them here) infuriate me. They are detrimental to the broader acceptance of crypto currency.

[traderCJ]

I agree with most of what you said, however I believe that alt coins are sort of a sandbox. I believe in BTC and am sure it will continue to rise, however I believe that it is not flawless and another coin will emerge which will supplant it. Surely that coin will come from the alt coin scene. Currently there are a few alt-coins which are not scams which are actually trying to gain acceptance. Currently the alt-coin scene is like the wild west, it is completely unregulated and tons of scams are abound and everyone is looking for an instant get rich scheme. However, there are people out there that can and will innovate. Those that truly believe in digital currency as the future, not merely as ploy to confuse people with technical jargon in hopes of getting them to hand over there money. The people who do that (I won't name them here) infuriate me. They are detrimental to the broader acceptance of crypto currency.

I agree with you, especially regarding the snake oil salesmen pushing this garbage.  It is possible that an alt will steal the show, however I believe this would only happen if Bitcoin absolutely crashes due a technical problem which makes it unusable.  Chances are the Bitcoin codebase will simply be tweaked as the years pass in order to solve these problems before they become insurmountable.  It reminds me of TCP/IP.  It has a tremendous number of inherent flaws and is demonstrably inferior to new, competing network protocols.  However, it will remain the basis for the internet for some time to come simply because of its adoption rate.  So, I think the most an altcoin will do is provide a research environment for desirable features to integrate into future Bitcoin.

[sighle]

I agree with most of what you said, however I believe that alt coins are sort of a sandbox. I believe in BTC and am sure it will continue to rise, however I believe that it is not flawless and another coin will emerge which will supplant it. Surely that coin will come from the alt coin scene. Currently there are a few alt-coins which are not scams which are actually trying to gain acceptance. Currently the alt-coin scene is like the wild west, it is completely unregulated and tons of scams are abound and everyone is looking for an instant get rich scheme. However, there are people out there that can and will innovate. Those that truly believe in digital currency as the future, not merely as ploy to confuse people with technical jargon in hopes of getting them to hand over there money. The people who do that (I won't name them here) infuriate me. They are detrimental to the broader acceptance of crypto currency.

I agree with you, especially regarding the snake oil salesmen pushing this garbage.  It is possible that an alt will steal the show, however I believe this would only happen if Bitcoin absolutely crashes due a technical problem which makes it unusable.  Chances are the Bitcoin codebase will simply be tweaked as the years pass in order to solve these problems before they become insurmountable.  It reminds me of TCP/IP.  It has a tremendous number of inherent flaws and is demonstrably inferior to new, competing network protocols.  However, it will remain the basis for the internet for some time to come simply because of its adoption rate.  So, I think the most an altcoin will do is provide a research environment for desirable features to integrate into future Bitcoin.

There is value in that.