Impact of Unrelenting Supply of new Alt-Coins ??

[indiemax]

it's all good fun and everyone gains,publicity for mainstream awareness is free with all the alt coins

let em loose onto the world

[rocks]

In the meantime I have come to see some altcoins as having a chance, not because they are well designed or thought out, but because people are by in large, irrational.  People like dogecoin because it is less 'intimidating' than bitcoin. 

When practically all of the dogecoins are mined in a year or two, prior to the many years it takes a crypto currency to really establish itself, it will cost an insignificant amount of electricity to attack the dogecoin network. We will see many reorgs on doge and as a result it will lose its "fun" value. IMHO as some currently popular alts fail, it will focus people on bitcoin more.

[Undone]

Its true, in fact if u noticed speculators just pretty much stopped buying new coins because of miner dumping. Miners have gotten v greedy with multipools causing buyers to loose interest.

Investors are now looking towards POS coins, since IMO greedy miners destroyed speculative buyers. However there r still enough buyers to make the price go up a little but they r fading away slowly with time.

This really smells like bullshit. You know what? It doesnt matter how many people are mining, the same number of coins come out anyway. Yes, it doesnt matter how many people mine. Miners would be pretty stupid to mine BTC with gfx cards, right? Doesnt really matter if the miner is interested in getting fiat or BTC, there are better ways then to mine BTC directly ...

Absolute bullshit, agreed.

Scrypt coin miners tagged as "greedy," while speculative buyers' best laid aromatic plans are laid to waste. What a shame, what an injustice! People should really stop trying to make money for themselves and just aimlessly throw hashing power at bitcoin.

The conflation of "more people mining" (larger network hashrate) and "more coins flooding the market" on this forum really is just unbelievable.

If you can't beat 'em, join 'em. That was Cubic Earth's conclusion, and it's working for him...

[Ibian]

In the meantime I have come to see some altcoins as having a chance, not because they are well designed or thought out, but because people are by in large, irrational.  People like dogecoin because it is less 'intimidating' than bitcoin.  

When practically all of the dogecoins are mined in a year or two, prior to the many years it takes a crypto currency to really establish itself, it will cost an insignificant amount of electricity to attack the dogecoin network. We will see many reorgs on doge and as a result it will lose its "fun" value. IMHO as some currently popular alts fail, it will focus people on bitcoin more.

This is an angle I hadn't considered. I did hear that doge is relatively easy to mine, but if it is easy enough that a 51% is a realistic risk, then...

Big investors no doubt have people to figure out security and potential risks, so they will have taken this into account. If true, then alts are only a short-term problem - if they in fact are, given that they help spread crypto awareness.

Question for the tech people: Does Lite share this potential weakness?

[aminorex]

When practically all of the dogecoins are mined in a year or two, prior to the many years it takes a crypto currency to really establish itself, it will cost an insignificant amount of electricity to attack the dogecoin network. We will see many reorgs on doge and as a result it will lose its "fun" value. IMHO as some currently popular alts fail, it will focus people on bitcoin more.

Hmmm.  Someone will start a DoubleSpenders pool to systematically attack the chains of disfavored alts.   First mine the coins, hoard them.  Then, sell massively.  Then start double-spending wildly, forking the chains into many tiny fragments.

[strimbello]

I think competition can only advance the search for a good altcoin that can make our lives better and easier.
The downside is, that sooner or later, something will come up and beat bitcoin - certainly for the mass-market.
We'll see what the future brings, but it all sounds promising.

[podyx]

im surprised nobody has made a coin called "Get-rich-quick coin" (CRQC)
make a promo video that looks somewhat like this http://www.youtube.com/watch?v=hGOWDd05q7o but instead when they open the vault there is tons of GRQ coins or something else creative

i can guarantee theres gonna be plenty of idiots jumping on a coin like that given that the market strategy is good