ALTCOIN FAIL

[Coolstoryteller]

Since when did technology progression become such a joke It seems like there's been a new coin released every 5 mins.. each bringing absolutely nothing new to the table other than being "rare" or "abundant". Hey my old cigarettes are rare and btw my 5 gallon water bottle full of pennies is abundant - doesn't mean they are worth anything.

Honestly this entire scene is being polluted with garbage coins. Dogecoin? Really? What new tech did this coin bring to the table other than a ridiculous block reward and large supply pool? It's just another clone with a dog picture slapped on it. Coinye West? Really? You actually thought that you had a chance at becoming a top rate currency? Piratecoin? What possible advantage does an internet pirate have by using your coin? 42? Trading at $800,000 a coin... Someone tomorrow clones it and releases "41" trading at $xxx,xxxx a coin. Next week someone creates 1/4 coin "only 1/4 of a coin will ever be released" trading at $xxx,xxx,xxxx,xxxx.

Honestly it's gotten so bad that a dogecoin minion tweets to Matt Green(zerocoin) defending his crapcoin from Matt's righteous Dogecoin mention in a recent Forbes article. Matt is working on some next-level tech in the crypto scene he shouldn't have to respond to some crapcoin holder or developer for that matter.  

The only real altcoin list I see so far is Anoncoin, Litecoin, Stablecoin, Peercoin, Zerocoin, Primecoin, Skiencoin, Securecoin and Datacoin.

Each of the above coins has/is working on new technology to progress cryptocurrency into the coming years. Honestly we should start a movement to remove other altcoins from the exchanges if they don't provide at least one new advancement. BTW cloning a repo and replacing key values doesn't count.

If you aren't contributing anything on the protocol level GTFO you're taking up valuable ports. This entire forum looks like a craigslist bot started pushing altcoins.

[1713430777]

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[markm]

There's no need to take the action you suggest.

The markets will speak and ultimately decide which coins survive and which ones perish.

Or in other words, the spammers will spam aka the marketers will market, ultimately deciding how much spam to spam per scam to spam and scam the suckers into blowing their hard earned wealth on.

All the market is telling us is that unregulated scams find victims easily.

-MarkM-

[NUFCrichard]

Since when did technology progression become such a joke It seems like there's been a new coin released every 5 mins.. each bringing absolutely nothing new to the table other than being "rare" or "abundant". Hey my old cigarettes are rare and btw my 5 gallon water bottle full of pennies is abundant - doesn't mean they are worth anything.

Honestly this entire scene is being polluted with garbage coins. Dogecoin? Really? What new tech did this coin bring to the table other than a ridiculous block reward and large supply pool? It's just another clone with a dog picture slapped on it. Coinye West? Really? You actually thought that you had a chance at becoming a top rate currency? Piratecoin? What possible advantage does an internet pirate have by using your coin? 42? Trading at $800,000 a coin... Someone tomorrow clones it and releases "41" trading at $xxx,xxxx a coin. Next week someone creates 1/4 coin "only 1/4 of a coin will ever be released" trading at $xxx,xxx,xxxx,xxxx.

Honestly it's gotten so bad that a dogecoin minion tweets to Matt Green(zerocoin) defending his crapcoin from Matt's righteous Dogecoin mention in a recent Forbes article. Matt is working on some next-level tech in the crypto scene he shouldn't have to respond to some crapcoin holder or developer for that matter. 

The only real altcoin list I see so far is Anoncoin, Litecoin, Stablecoin, Zerocoin, Primecoin, Skiencoin, Securecoin and Datacoin.

Each of the above coins has/is working on new technology to progress cryptocurrency into the coming years. Honestly we should start a movement to remove other altcoins from the exchanges if they don't provide at least one new advancement. BTW cloning a repo and replacing key values doesn't count.

If you aren't contributing anything on the protocol level GTFO you're taking up valuable ports. This entire forum looks like a craigslist bot started pushing altcoins.

I tend to agree with you that the exchanges are the ones to blame. If they only had a few quality coins then it would stop people cloning new crap everyday. Cryptsy used to be the home of the crapcoin, now it is actually one of the higher brow exchanges.

[Raist]

I wonder how much suckers usd has found after 1971 . Ops, sorry, there were some aircraft carriers for persuasiveness .

[FalconCrypto]

I guess some people don't believe in a free market, bleh

[markm]

It is not a free market, it is a market in which suckers have been brainwashed since birth into believing that financial products are heavily checked out by all kinds of august bodies to try to ensure they are not scams that they are viable that they have sufficient financial backing to compensate people if anything goes wrong etc etc etc.

-MarkM-

[FalconCrypto]

What was it that PT Barnum said?

Oh yeah, and the world keeps spinning.

Some coins will fail and some will prosper.

[MisO69]

Alts are just going through an evolution phase. Once the scamcoin developers realize their efforts are for not then it will stop. Of course many people will need to get scammed before that will happen. Just make sure you are not one of them. Alternatively, you can ride the boat for now and make some profits as well.

[Raist]

Have anyone heard about shoe polisher buying mining rig or ASIC? If no - then we have some time here.

[Nullu]

This is the free market at work. Take a look at the film industry, or the game industry, Hell, take a look at the crap China makes on a daily basis.

This is capitalism at work. Welcome to the real World.

If you notice, people are becoming more and more picky about the coins they mine. It's there if you look. Altcoins are beginning to compete for attention. Again, this is exactly how the free market works. You're complaining about a process which will ultimately improve altcoins. Let it happen. Pick the right coins and maybe you'll see things differently.

[MisO69]

If I knew how to code I would release a coin with 0 premine and fair launch for every coin release that has a premine. I would call it the same name too. haha. touche!

[Raist]

This is capitalism at work. Welcome to the real World.

Yep. Look at the government's debt here and there. Look for example how after the abolition of the gold standard, despite it is believed that the U.S. national debt growth will be compensated with analogous growth of the tax base. While the U.S. tax base grew exponentially - at the same rate as the U.S. national debt, this scheme was balanced, but it began to falter long ago. And since that time present fiat money making scheme was gradually transformed into a debt pyramid scheme. This is also capitalism at work. There are always two sides of the coin.

[divinity]

OP is absolutely correct. Each and every day some new piece of shit surfaces that comes with a glittering logo and some fancy name. When you read the details though it's nothing but the same old crap... there will be millions of them produced over the years, blah blah blah.

Consider that BTC and LTC are still trying to find people to adopt their currency in the real world such as bars, online shops, etc. and it's an uphill battle. People keep crying that BTC will see $10,000 per coin but you know that's not true. People will buy and sell them and they'll change hands 100x over just as LTC will change hands 100x over but the price will never skyrocket.

So what makes these people think their coin with a dog, cat, mouse, anon mask, etc. is going to do any better? They won't. There will never be any market for these pieces of junk. It's only because people that missed the Bitcoin boat rush to these new coins with their miners thinking, "This is gonna be the next big thing". Well it won't.

Think of the hockey card phenomenon where old cards became very valuable. The industry saw this renewed interest in sports cards and began releasing new sets every month. Even Pokémon and Magic cards try to release add-on packs and other junk cards to further suck the money from your wallet. The cards you purchase today will never amount to any worth because you know everyone in the world is also buying them.

The same with your precious Doge's and 42 coins. Everyone is jumping on the bandwagon and in a year from now when the fad has passed, you can't spend them anywhere in the world, they'll die. Unfortunately we have exchanges like Cryptsy who try to add every coin they can (despite their service sucking and incredible issues for members) that doesn't help.

It's sad that the market has come to this where idiots actually buy into these mockery coins. I'll stick with BTC, LTC and mine Sexcoin or Tagcoin if only to convert to BTC/LTC. The rest can die a miserable crash. You people (creators of coins and buyers of coins) have made a mockery of what was once a promising market.

Really - what are you buying and selling anyway? Nothing but a numbered unit of air. At least with BTC and LTC you can purchase real world goods. Doge's, Memecoin, Yak's, etc. will never get you anything in the material world.

[mymenace]

Do you have any crypto? check the thread a theory on the evolution of cryptocurrency

https://bitcointalk.org/index.php?topic=406515.0

[divinity]

How about you dont come to the alternative cryptocurrency sub anymore since you hate it here so much

Disliking 80% of the coins out there does not equate to "hate it here so much". There is still 20% enjoyment from the hobby.

And if you don't like some of the responses, don't read them.

[elixir]

it cant last forever, people will get bored of constantly mining new coins. i know i have.

[WutriCoin]

OP is absolutely correct. Each and every day some new piece of shit...

Why are you so frustrated? Why are there so many new coins? Because there is a demand for it. When there is a demand, there is a supply.

All these alt coins are bringing many new crypto users, and many coins (Doge for example) are brining crypto world to mainstream. Something that your precious and serious LTC/BTC never managed to do...

When there are users, there are communities. Communities bring great stuff to the table. When, and IF all these "shitcoins" as you call them, die, where do you think users will go? To invest in "stable" and long known BTC and LTC.

So, how ever you want to look at it - it's a good thing. If you cannot see that my friend, you are a very unintelligent person.

[kelsey]

While I 100% agree that there is way too many crapcoins, way way way too many now.

I don't agree its all about advancement, adoptions whats needed not so much just advancement, I don't care if its a direct clone of btc or ltc as long as its got strong support.

If the community narrowed what they were supporting even just down to 50 good coins that would be best for everyone. Most the coins now are just pumped out for a quick profit or a joke.

[glerant]

The only real altcoin list I see so far is Anoncoin, ....... snip

You're kidding, right?

Anoncoin slapped an anonymous gif on a scrypt clone and nothing else. 

[divinity]

OP is absolutely correct. Each and every day some new piece of shit...

Why are you so frustrated? Why are there so many new coins? Because there is a demand for it. When there is a demand, there is a supply.

All these alt coins are bringing many new crypto users, and many coins (Doge for example) are brining crypto world to mainstream. Something that your precious and serious LTC/BTC never managed to do...

When there are users, there are communities. Communities bring great stuff to the table. When, and IF all these "shitcoins" as you call them, die, where do you think users will go? To invest in "stable" and long known BTC and LTC.

So, how ever you want to look at it - it's a good thing. If you cannot see that my friend, you are a very unintelligent person.

Investing into shares of air that can never be used outside of the internet, never used on any actual goods, just bought and sold compared to BTC/LTC's continued success and real world implementation makes you an unintelligent person.

Really, 100k Doge's is something people want to throw money into? I've got boxes of air for sale... can someone demand them?