Shocked At What Alt Coins Are For

[Phinnaeus Gage]

Even Litecoin is a scam

I would remind you many people to this day think Bitcoin is a scam.

At some point though that probably doesn't matter. I think Bitcoin has reached that point, and so has Litecoin.

At least Bitcoin doesn't have dozens of security, reseller, and bitcoin miner hosting outfits all attached to some vaporware bitcoin miner hardware supplier backed by a myriad of pseudonyms, each vetting each other. Oh, wait! Let me try this: At least Bitcoin doesn't have...

~TMIBTCITW

Great post, there PG!

I LOVE IT!

My $.02.

<I edited the original post>

Actually, it would be fuckin' funny if it weren't true. Then again...

[1714999931]

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[yatsey87]

yatsey87 thinks he is going to be making substantial gains.  Quite possibly he will be a big loser.

lolwat? I'm not sure what point you're trying to make with this thread  .

[Lauda]

This makes no sense.

[cakeboss]

All cryptocoins can be (and are) used for speculation, gambling, scamming etc. If there only was one cryptocoin it could be dismissed as a fad or whatever, but because there now are several somewhat successful cryptocoins the concept is much more difficult to dismiss.
(However the real reason for creating an altcoin is simply because it's possible.)

[LostDutchman]

Crypto was CREATED to be about money.

Crypto IS about money.

Crypto will ALWAYS be about money.

My $.02.

[jongameson]

Even Litecoin is a scam

I would remind you many people to this day think Bitcoin is a scam.

At some point though that probably doesn't matter. I think Bitcoin has reached that point, and so has Litecoin.

Shut up and watch the Superbowl!!  Go Peyton!!

[El Dude]

Litecoin is not a scam , It's has a real dev team. All these pump and dump coins copy Litecoin and add nothing new.

[Ed4252]

Litecoin is not a scam , It's has a real dev team. All these pump and dump coins copy Litecoin and add nothing new.

What other coins besides litecoin isn't pump and dump? What about Peercoin and Worldcoin?

[yatsey87]

Crypto was CREATED to be about money.

Crypto IS about money.

Crypto will ALWAYS be about money.

My $.02.

Yes, but it should be a revolutionary form, not just a get rich quick scheme for idiots.

[travel-trousers]

Just don't be on the wrong train when it stops.... :p

[Caesar V]

Wow, when I see threads like this, I always feel so good about myself because others must have the IQ of a goat.

Either that or the trolling in the alt section is glorious.

[FoBoT]

how many of you are still using the first version of windows (or iOS or first distro of linux) that you ever used? do we still use visicalc on DOS ? or maybe some have upgraded to a new version of MS Excel?

crypto is software. and software always has an upgrade and new version in the pipe as well as competing 'clones' that accomplish the same purpose. if bitcoin is still being used 30 years from now with no Major upgrades or revisions or competition from other versions, it would be the first time in software history.
i think people who are "bitcoin purists" and believe all alt coins are "the work of the devil" either don't understand software or maybe they just think this will be the first time ever that a piece of software stays on the original version and doesn't get successfully cloned or improved upon by others.

[thejepper]

Litecoin is not a scam , It's has a real dev team. All these pump and dump coins copy Litecoin and add nothing new.

What other coins besides litecoin isn't pump and dump? What about Peercoin and Worldcoin?

peercoin was one of the first with the revolutionary idea of PoS mining implemented. Lower power use and a safer network. completely fair start as well. No buy-in a-la NXT.
WDC is one of the first fast coins, in 50 seconds you usually have 1-2 confirmations.

Alt-coins are a breeding ground for new idea's
Some coins will survive and thrive on their own, and probably some idea's will feed back into btc.

[jdh015232]

how many of you are still using the first version of windows (or iOS or first distro of linux) that you ever used? do we still use visicalc on DOS ? or maybe some have upgraded to a new version of MS Excel?

crypto is software. and software always has an upgrade and new version in the pipe as well as competing 'clones' that accomplish the same purpose. if bitcoin is still being used 30 years from now with no Major upgrades or revisions or competition from other versions, it would be the first time in software history.
i think people who are "bitcoin purists" and believe all alt coins are "the work of the devil" either don't understand software or maybe they just think this will be the first time ever that a piece of software stays on the original version and doesn't get successfully cloned or improved upon by others.

it will happen with time no matter what
theirs really no other way rite now for new devs to get their hands on this software and work with it to find new/useful ways to utilize it than to make their own coin and go from their
learn from experience

[hellscabane]

Unfortunately, because there is so much saturation with all sorts of alt-coins, the instinct of getting money or recapturing ROI tends to bubble to the surface as the main priority since it costs money to mine. That's why people are so easy to say that the markets will sort out the winners and losers, but this isn't necessarily the case as people have mined and dumped coins with some innovation.

There have been several coins that have brought something new to the table, but as many of us know, innovation isn't the only driving factor. Fundamental sociological and psychological aspects are also key market drivers.

That being said in terms of a financial motives, yes, alts unfortunately serve the basis of being somebody's profit mechanism. The problem is that with the influx of alt currencies, people can't help but drift away from the revolutionary aspects of cryptocurrencies and instead use it as a means of profit.

[thejepper]

how many of you are still using the first version of windows (or iOS or first distro of linux) that you ever used? do we still use visicalc on DOS ? or maybe some have upgraded to a new version of MS Excel?

crypto is software. and software always has an upgrade and new version in the pipe as well as competing 'clones' that accomplish the same purpose. if bitcoin is still being used 30 years from now with no Major upgrades or revisions or competition from other versions, it would be the first time in software history.
i think people who are "bitcoin purists" and believe all alt coins are "the work of the devil" either don't understand software or maybe they just think this will be the first time ever that a piece of software stays on the original version and doesn't get successfully cloned or improved upon by others.

it will happen with time no matter what
theirs really no other way rite now for new devs to get their hands on this software and work with it to find new/useful ways to utilize it than to make their own coin and go from their
learn from experience

the question is how flexible the bitcoin dev team will be with implementing new idea's

[hellscabane]

Crypto was CREATED to be about money.

Crypto IS about money.

Crypto will ALWAYS be about money.

My $.02.

Yes, but it should be a revolutionary form, not just a get rich quick scheme for idiots.

Yeah, but let's be honest, the masses aren't interested in a revolution. Most people are just interested in having the status quo that they are comfortable with, but at the same time doing what they can to get a little more of the piece of the pie.

And sometimes, clear stupidity gets the better of people. Just look at how many MLMs have succeeded in the past...

[r0ach]

Can't believe I read through two pages of replies, covered with lots of "Hero members", and not a single person has a grasp of why altcoins are needed and HAVE to exist.  Let me quote myself:

Anyone that supports bit-fascism/authoritarianism, meaning Bitcoin as the only dominant, official currency, can't be trusted as far as you can throw them.  Centralization of power created in that manner is no different than the system we already have now.  What happens if Bitcoin is the only currency and the govt takes it over?  They can appoint Ben Bernanke to lead it, force new fork updates to inflate the number to Dogecoin levels, redirect transaction fees to be sent straight to the IRS wallet, etc.

Bitcoin as the only currency has the potential to be a more Orwellian nightmare than the economic system we have now.  There has to be lots of competitors to have a free market, to prevent government from monopolizing it.

Beware of the current Bitcoin devs/Satoshi wannabes.  Their outward hostility to any coin besides Bitcoin truly shows they are either completely corrupt, or oblivious to the point I make in the paragraph above.  They cannot be trusted for this reason.

[Isildur23]

Obviusly some alt coins have incredibly useful features. Problem is that speculators start some childish black marketing against all the coins in which they didn't invest... Eventually they(or most of them) will give up and admit that these features will be part of the revolution. 

[LostDutchman]

Not to be flip but if you want to change the World, join the Peace Corps.

If you want to make money, get into crypto.

My $.02.