Wow, Alt-coins.... Game over

[undeadbitcoiner]

It is pretty much game over, all coins are so low in price it is almost not worth mining them. Very low profit, feel sorry for anyone who owes money on new equipment, it will be hard to make back roi now.

It Depends what coin you are mining
When are you selling
there are few things ROI will be within first month
Just study properly and love crypto.

[r0ach]

It is pretty much game over, all coins are so low in price it is almost not worth mining them. Very low profit, feel sorry for anyone who owes money on new equipment, it will be hard to make back roi now.

Are you describing Bitcoin or Altcoins?

[williamevanl]

OP, you couldn't be more wrong, have you seen tomatocoin? (It's going to be huge!)

I'm just kidding, no I'm with you, it's absolutely insane. What exactly though, it's not that there are 100's-1000's of copies of the same thing that is surprising. What is surprising is that they all get the attention that they do. I guess I understand the point about as long as people are making money this will continue. So where is it all going?

If all the clone coins don't actually offer any new functionality then the only reason driving the price up is waves of new people/money coming into the cryptocurrency market. This can't continue on forever so at some point the waves will get smaller and smaller and as old useless cryptos die out that money should concentrate into something of real substance. (Bitcoin, NXT, Ripple (which is stupid but different, etc...)

We are all just throwing money around on stupid, valueless investments. Then again, maybe I'm missing something as they are just all copies of bitcoin and on paper just as good. I'm not sure what that means in terms of value. Every clone coin offers exactly the same thing as Bitcoin and yet we are willing to pay more for Bitcoin because it's older? I can't think of a real world example of anything that compares, as an example, what if Pepsi were cloned EXACTLY but offered at 1/1000th the cost. Would people still 'use' Pepsi?    

So maybe this whole thing is madness!  

[Wipeout2097]

OP, you couldn't be more wrong, have you seen tomatocoin? (It's going to be huge!)

I'm just kidding, no I'm with you, it's absolutely insane. What exactly though, it's not that there are 100's-1000's of copies of the same thing that is surprising. What is surprising is that they all get the attention that they do. I guess I understand the point about as long as people are making money this will continue. So where is it all going?

If all the clone coins don't actually offer any new functionality then the only reason driving the price up is waves of new people/money coming into the cryptocurrency market. This can't continue on forever so at some point the waves will get smaller and smaller and as old useless cryptos die out that money should concentrate into something of real substance. (Bitcoin, NXT, Ripple (which is stupid but different, etc...)

We are all just throwing money around on stupid, valueless investments. Then again, maybe I'm missing something as they are just all copies of bitcoin and on paper just as good. I'm not sure what that means in terms of value. Every clone coin offers exactly the same thing as Bitcoin and yet we are willing to pay more for Bitcoin because it's older? I can't think of a real world example of anything that compares, as an example, what if Pepsi were cloned EXACTLY but offered at 1/1000th the cost. Would people still 'use' Pepsi?    

So maybe this whole thing is madness!  

It's madness. But what's the "value" of 1 Quadrillion of $US in derivatives?  

[MysticalPotato]

The last four months that I have been on this forum have been a whirlwind of trading and going insane with crypto currencies. It seems I am probably Cryptsy's biggest money generator.

It has been nuts as I have watched a seemingly endless line of crypto currency be announced, mined, dumped, pumped and redumped.

I just opened Crypto-market cap again for the 10000th time http://coinmarketcap.com/

I sorted by market cap and something really hit me. It wasn't that there are now 102 coins on the site and a few months ago there were far less. What blew me away is how pathetically worthless most of the coins on the list are. It is GAME OVER and most communities don't know it. So many of these coins of lost hope have been 10 times higher in the last four months alone. So many were "major coins" at one point and now are worth absolutely nothing and will never be worthy anything EVER.

Megacoin, oh what happened to your 50 million cap!?!?!? Quark the darling of crypto-future a shell of what you once were and dropping like a pre-mined rock. Primecoin!!! oh the great primecoin going nowhere since forever.... Feathercoin oh the humanity!!!, pumped from the cellar to a pathetic 8 million. Ripple, dear God Ripple and its pathetic, pathetic, 73k in volume!!!!!! insert me laughing for an hour, pathetic, pathetic, pathetic.

And yet each has their own straggling communities of desperate hope and lost dignity. These walking-dead communities actually still believe that they will rise to be Bitcoin or even just a small piece of Bitcoin. IT WILL NEVER HAPPPEN. You won't be Bitcoin and what is worse for you is that you won't even be Dogecoin   Watching Kittehcoin try to have any community on Reddit in the face of Dogecoin's tens of thousands is worth a laugh and then a cry.

I wish there was a virtual executioner that would purge the world of these dead coins that only bring shame to their followers.

Good God Franko, Mooncoin, anoncoin, copperlark, RonPaulCoin!!!! i feel guilty just reading your names next to your tiny little market caps. I hope you all just disappear quietly into the virtual night.

I can understand your frustrations, Johnny, but the core fundamentals that governs the cryptosphere - decentralization, absence of trust, choice and anonymity - should be left to handle this on its own. Market forces will react and adjust accordingly to correct any structural imbalances in the ecosystem.

Enforcing the opinion/s of a segment of the market participants on the economy, with the intention of shaping and even governing the market, runs contrary to the ideals of you, me and Boo.

[aguiney]

It's just a bit of fun, right? You shouldn't be investing money you can afford to lose.

[disclaimer201]

There are hundreds of fiat currencies in the world today. There is no reason there couldn't be hundreds of cryptos either, maybe even thousands. So glad Bitcoin is so cheap at the moment so some of the most obvious scams may be weeded out.

[contraband]

Game over? The game is just beginning.

If we were playing monopoly, we havent even finished passing out the.money that we all start with. Hell, were just figuring out who gets the hat, the horse or the shoe.

All I can say is... I wonder who going to.end up with tue hotels on boardwalk. Who will become the big authority on this shit? No big player that has established himself as the leader.

[MicroGuy]

The problem is the general population will never accept and never understand the majority of these alt-coins, and if there aren't people supporting them they are worth nothing. Coin devs should really start working together on the top alt-coins and make them better instead of releasing new non-sense each and every day. Also exchanges like Cryptsy shouldn't give all these fly by night coins the time of day, there is no reason there should be that many coins on any exchange, not yet at least.

I think the population will come to understand but it will take a couple of generations for these coins to reach mass adoption.

[spring.yu]

I sorted by market cap and something really hit me. It wasn't that there are now 102 coins on the site and a few months ago there were far less. What blew me away is how pathetically worthless most of the coins on the list are. It is GAME OVER and most communities don't know it. So many of these coins of lost hope have been 10 times higher in the last four months alone. So many were "major coins" at one point and now are worth absolutely nothing and will never be worthy anything EVER.

a  oh, I don'y think so , no matter what happened.