Trading is slowly dying...

[EloquentThinker]

There should be limits on individual hash rates during early mining so farms can't mop up everything. This, in conjunction with a solid plan to get people and businesses using the coin, could make a coin more popular.

But I'm in agreement with an earlier poster where there's not enough innovation right now. People keep trying to base their ideas on existing coins but come on guys we need something new and revolutionary - A kind of Bitcoin 2.0 that takes everything one step further and is much simpler to use and much more likely to be adopted by normal people.

[Snard]

Bitcoin still is just an IDEA for alternative money (aka virtual currency) and so are the rest of the scrypt/sha256 coins.

Yes and no.  It may have once been an idea, but now that companies are accepting it as currency, it has gained value and become currency. With Zynga, overstock, and branson accepting it as a valid form of payment, then it has become a currency.  Whether these companies/people are idiots doesn't matter.  Once it has a perceived value it has value.

The same goes for these shitcoins. Doge was a joke yet there was a supply and demand and thus a value attributed to the coin.  That was a rarity and not something that we are going to see often.  All these other crap coins that keep appearing are a waste of everyones time.  A few people will earn some BTC, but the vast majority will not.

[Raist]

Bitcoin still is just an IDEA for alternative money (aka virtual currency) and so are the rest of the scrypt/sha256 coins.

Yes and no.  It may have once been an idea, but now that companies are accepting it as currency, it has gained value and become currency. With Zynga, overstock, and branson accepting it as a valid form of payment, then it has become a currency.  Whether these companies/people are idiots doesn't matter.  Once it has a perceived value it has value.

The same goes for these shitcoins. Doge was a joke yet there was a supply and demand and thus a value attributed to the coin.  That was a rarity and not something that we are going to see often.  All these other crap coins that keep appearing are a waste of everyones time.  A few people will earn some BTC, but the vast majority will not.

+1

[phazon307]

There should be limits on individual hash rates during early mining so farms can't mop up everything. This, in conjunction with a solid plan to get people and businesses using the coin, could make a coin more popular.

But I'm in agreement with an earlier poster where there's not enough innovation right now. People keep trying to base their ideas on existing coins but come on guys we need something new and revolutionary - A kind of Bitcoin 2.0 that takes everything one step further and is much simpler to use and much more likely to be adopted by normal people.

It's called Betacoin because it's beta than bitcoin.

[AtlantisPlatform]

How about you seriously give him an answer or point where he's wrong?

"Where he's wrong"... sir did you read the post? There is no statement which can be right or wrong. Post is just showing that OP does not understand who was selling air and who was buying. In this case cannot help, sorry.

People were buying air since the first bitcoin was bought... Bitcoin still is just an IDEA for alternative money (aka virtual currency) and so are the rest of the scrypt/sha256 coins. You can't do anything with them beside play on the market (like stocks) or just sell them for profit. They are virtual after all (thus calling them air) and are not integrated in real economy (besides some small shops/coffees and maybe some place I didn't heard about). My reason to make the thread was that I doubt it people realised this this last week. Maybe it's really about people waiting for BTC to get its maximum and then sell/buy the alternative coins. I invested highly in GDC and I hope it rises to at least 0.00000360 per coin to double my investment .
[/quote]

how is fiat any different? it is backed by nothing, it is only valuable because we all believe it to be, how does btc differ from u.s. fiat, please explain what intrinsic value fiat has?

[Thrillho]

There should be limits on individual hash rates during early mining so farms can't mop up everything. This, in conjunction with a solid plan to get people and businesses using the coin, could make a coin more popular.

But I'm in agreement with an earlier poster where there's not enough innovation right now. People keep trying to base their ideas on existing coins but come on guys we need something new and revolutionary - A kind of Bitcoin 2.0 that takes everything one step further and is much simpler to use and much more likely to be adopted by normal people.

That's a really good idea. If someone could build a hash-limiter into their coin for, say, the first 30 days it has the possibility to be a truly fair launch.

Or perpetually even. Would be interesting.

[ethought]

thanks to multipools,hashcow, and any other profit switching pool as well as new alts popping up every other hour!

in fact, I started looking into developing COINDASHIAN [CDS] , the next big thing since COINYE! and by holding onto those I will develop a PoS alt coin called NORTHs , the more COINDASHIAN and COINYE you hold will generate a % based on your current holding.


ahhhhh.... the wonders of a free market.

It's not like a programmer with a strong understanding of C++ and cryptocurrency couldn't make a multipool resistant coin. There's not enough innovation in altcoins. That's the problem.

Megacoin is multipool resistant thanks to the innovation of the Kimoto Gravity Well difficulty algorithm - check it out if interested in serious coins http://www.megacoin.co.nz

[hvezdasmrti]

Megacoin is resistant to everything, even to potential users. Web page looks like a scam promotion - "discover the sensation" and another similar terms making it untrustworthy.

[kalus]

Megacoin is resistant to everything, even to potential users. Web page looks like a scam promotion - "discover the sensation" and another similar terms making it untrustworthy.

why would kim dotcom of all people associate himself with an untrustworthy endeavour?

[vaskomobile]

Everyone realized they were buying "air"?

There are very few coins that I would still be interested in investing in. Ones that show something new, interesting, and useful regardless of how practical (XPM, DTC, PTS, etc).

Easy boy , take a deep breath. We are all here just for that air. If you think that air is a joke what are you doing here?You are on vacation... ? ...Fresh air?

[TPN]

There is only some with "true" value, EAC, XIV & TIPS

[hvezdasmrti]

Megacoin is resistant to everything, even to potential users. Web page looks like a scam promotion - "discover the sensation" and another similar terms making it untrustworthy.

why would kim dotcom of all people associate himself with an untrustworthy endeavour?

Dont know but the webpage of megacoin is terrible. Looks similar to webpage of any sect.

And i agree with statements, that there will be only few coins with some real value and they will grow up, because buypower will focus only these healthy coins, not craps. Now they are a bit undervalued because investors dont buy anything (scared) or everything (stupid) or safe old coins (careful).

However people are incredibly stupid and foolish, because obvious craps are very easy recognizable. (i dumped them already so i can tell truth   )

small help: "unnamed coin"  - block reward 20 now, 2 in a few weeks, start reward 50000 - mommy, is this coin good anyways? No my dear, its a crap, keep away.
another case: "unnamed coin" - block reward 1 trillion, innovation 0, development 0, initial hype max. - mommy this is so cute dog... Keep away, scabby dog.

[frobley]

Megacoin is resistant to everything, even to potential users. Web page looks like a scam promotion - "discover the sensation" and another similar terms making it untrustworthy.

why would kim dotcom of all people associate himself with an untrustworthy endeavour?

Dont know but the webpage of megacoin is terrible. Looks similar to webpage of any sect.

And i agree with statements, that there will be only few coins with some real value and they will grow up, because buypower will focus only these healthy coins, not craps. Now they are a bit undervalued because investors dont buy anything (scared) or everything (stupid) or safe old coins (careful).

However people are incredibly stupid and foolish, because obvious craps are very easy recognizable. (i dumped them already so i can tell truth   )

small help: "unnamed coin"  - block reward 20 now, 2 in a few weeks, start reward 50000 - mommy, is this coin good anyways? No my dear, its a crap, keep away.
another case: "unnamed coin" - block reward 1 trillion, innovation 0, development 0, initial hype max. - mommy this is so cute dog... Keep away, scabby dog.

I liked mec - who said it dotcom's coin?

[shluher]

1st one takes 90% of the market. Other ones splitting 10% That the point.

[achillez]

people clued in that most of these are scam coins. Besides BTC, LTC, XPM and QRK I think 99% of the others are quick profit scams. Quite sad really.

[phazon307]

Betacoin is not a scam just wait tell more options are added for it.

[tk808]

No new innovations will come from bitcoin code clones.

The next big step for digital currency is large, time and money intensive projects. Code that is written from scratch, or based off of Nxt.



There is only 2 legitimate projects that are doing this (That i know of):

1) eMunie
2) Skycoin (Still in pre-alpha phase)

[neuroMode]

Objectively speaking, you cannot just look at a 14-day graph and say trading is dying. There are coins that have increased in price the past two weeks (Digitalcoin, Tagcoin, Anoncoin, etc). Do you count those? There are coins that are still decreasing in price but have a large (relatively speaking) trade volume (Worldcoin for example).

I will agree that there are coins that have not had any news to speculate on in the past two weeks which will contribute to coins falling in price. Trading might be dying for those coins, but it's still a subjective opinion. There will ALWAYS be new people to the cryptocurrency game, which means there will continue to be new money poured into these coins for investing and speculating. It will help when there are multiple avenues to deposit cash into cryptocoins (Worldcoin MIGHT be providing a solution with their own WDC/USD exchange for example, which will be another side of the park to enter the field so to speak). Also, easier access to buying bitcoin in 2014 (ZipZap, ATMs, regulated exchanged in US) will lead to many people speculating on coins just as we have the past few months. Penny stocks will always exist and these cryptocoins are all essentially that. There IS a market for it because damnit you can hit it big if a coin suddenly gets revived with a new innnovative feature.

I'm glad the main crypto exchanges aren't adding all this filth we've seen accumulate the past month. Most of these new coins you have seen aren't getting picked up by exchanges, which maintains a level of health of the coins that are there already. Newbs aren't going to be exposed to the junkpile of coins that exist in this forum if they are trading on those exchanges, at least not initially, so it won't dilute the trading volume in my opinion.

I think trading will pick up even heavier in 2014. We had a wave of new users after the rise of bitcoin to above $1000 levels. Each wave of adoption will spur trading of the altcoins. Each new cryptocoin trader will most likely not be aware of the whole history of each coin, so they won't be as hesitant to put some bitcoin onto an exchange and trade/invest.

[momchilandonov]

By "dying" I was speaking that the current situation is very unpleasant considered when I wanted to buy a good videocard the estimation was to get even in 3-4 weeks! Now it seems I would need at least 3 months on todays prices even mining on multipools. Sorry for the misunderstanding (my fault). Lets force Bitcoin to get to at least 2000$ =).

[brokedummy]

By "dying" I was speaking that the current situation is very unpleasant considered when I wanted to buy a good videocard the estimation was to get even in 3-4 weeks! Now it seems I would need at least 3 months on todays prices even mining on multipools. Sorry for the misunderstanding (my fault). Lets force Bitcoin to get to at least 2000$ =).

HAHA, it's dying because of you! There are more miners interested in dumping the coins than there are investors interested in holding them. Now why do you think currency speculators and investors don't want to buy your shitcoins anymore? Maybe because all everybody wants to do anymore is mine the most profitable coin and dump it for BTC. Why should I give you my BTC when I know I can buy the coins for half price once the dumping is over?