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Author Topic: Is Bitcoin Talk's love affair with shitcoins over?  (Read 318 times)
bigmelons25
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August 16, 2018, 03:04:49 PM
 #21

altcoins will never die, its boring to invest in bitcoin when you can get over 10x gains from altcoins really quickly.  There will always be new tech coming out and altcoins with new features, it simply wont die.

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August 16, 2018, 03:09:15 PM
 #22

The saddest part of all this bounty spamming is the change that it has made to the forum. Up until now, all I've been doing is collecting Bitcoin by various means. Recently I bought a small amount of Bitcoin from a forum member, and I would like to increase this in the future. I missed out on the massive price rise a couple of years ago because I didn't trust exchanges. I didn't have any problems with the exchange here, and this is probably the result of my interaction with the member over several months. I don't feel that the trust system here can be used to evaluate a potential trade though. This is for two reasons, one is that it covers far more than trading trust, and the other far more significant fact is that accounts can be purchased. Obviously the trust needs to be related to the person, and not the account. Unfortunately it is not possible to guarantee that the two are the same.

I can get round this by setting up a small invitation only trading room, and I am working on this at the moment. It does mean that trading potential is rather restricted though.

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August 16, 2018, 03:23:04 PM
 #23

Nah... I think you're giving people too much credit. I'm pretty sure that as soon as Bitcoin stabilizes and starts recovering, we'll see a lot of money flowing into alts again.

The fear of already having missed the Bitcoin train is too big. The lure of investing in "the next Bitcoin" is too strong.

Besides, didn't you get the memo that Bitcoin is old tech? /s
I totally agree with you. As soon as the time of the bulls starts, and it starts, I'm sure of it, then the future will appear for altokens. Now, with a dominance of 50%, many projects are bent. 

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August 16, 2018, 03:38:02 PM
 #24

Unfortunately all these scam coins tend to discredit the crypto market.

Maybe I should go anonymous, and then I could start a few. Smiley

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August 16, 2018, 03:46:04 PM
 #25

I missed out on the massive price rise a couple of years ago because I didn't trust exchanges.
sorry JC don't take offense
when the span of 2016-2017 is unthinkable to do mining of altcoins. it's a golden year for altcoins miners and I feel it, 1 day can get 100$ (5xGPUs) rather than having to buy bitcoin and sell it at a high price. until now I don't invest in Bitcoin because it is too risky.

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August 16, 2018, 05:26:00 PM
 #26

when us dollar disappears things will change quite a lot.

there is no guarantee that old bitcoin will survive. and people will continue thinking its "valuable"

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August 16, 2018, 05:26:33 PM
 #27

don't shitcoin and bounties, due to the volumes of visitors that bring, generate indirectly funds to the forum in the form of paid advertisement?

Sure. Doesn't mean we should bow down to them, and let them do what they want though. I think the best way to approach most of the problems with altcoins is imposing restrictions to reduce the spam problem. I'm really not sure how to combat the scam problem, because from a moderation point of view it isn't going to happen. I've seen a few users starting to research each project in depth though which has given some decent results.

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August 16, 2018, 05:34:04 PM
 #28

I generally don't watch the altcoin market much, but the pattern has been that when bitcoin goes up, altcoins go down and vice versa.  It's not a hard and fast rule, but that's the way I've seen it happen.  At any given time, there seems to be a fixed amount of money in the entire crypto space, and people are either buying bitcoin or buying shitcoins.

A 90% mortality rate for shitcoins sounds about right, and I suspect it's going to be even higher than that in the long run.  I just don't know how long it's going to take.  However, we've seen bloodbaths in the market before, and we've also seen incredible recoveries too.  Whatever the market is doing right now may not be a sign of anything other than extreme volatility.  That's standard for crypto.

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August 16, 2018, 05:39:20 PM
 #29

Have you been on the dark web within the past year? No one even takes bitcoin, they only take privacy coins like Monero.

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August 16, 2018, 05:55:06 PM
 #30

Have you been on the dark web within the past year? No one even takes bitcoin, they only take privacy coins like Monero.

That's one of the few coins that has a utility and will survive.

I just got this from one of my fiat market feeds.

https://www.livesquawk.com/members/crypto_update_aug_2018

It makes a good point about how the market is changing due to having institutional and professional traders involved more now.

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Selloff also represents a market waking up to the fact "you don't need 1,000" different currencies

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August 16, 2018, 07:51:39 PM
 #31

The blood bath in the altcoin markets has caused a lot of people to lose large sums of money. The talk is that about 90% of them will not survive. Bitcoin is now at over 50% dominance. Will this mean that most sig spammers will not make any money from their board pollution here?
I've read somewhere that around 92% initial coin offering launched in 2017. turned out to be but scam/projects simple failed/didn't hit exchage and only 8% of all ICO's were listed on exchange  (I am not sure how many of ICO's  issued erc20 tokens, probably most of them), my guess is many investors lost their faith and moved from this market...
Will this mean that most sig spammers will not make any money from their board pollution here?
...lack of investors directly affects payout rates, less money collected = lower bounty rewards and bounty hunters will receive much less shitcoins or tokens (if they receive them at all). Looking at scam accusations and complains against bounty managers, situation is "not so good" and with all these exposed scams lately that whole board is looking like "investor based games", people are scared to invest money in shitcoins(my opinion)

For most bounty hunters this is regular 8 hour shift and I believe they will simple create more accounts to "compensate lower rewards" (if this is correct expression) and to, as you said, pollute forum.

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August 17, 2018, 03:34:32 AM
 #32

Have you been on the dark web within the past year? No one even takes bitcoin, they only take privacy coins like Monero.

That's only for the dark web though, even though it's a decent sized market. Also, whose to say that bitcoin can't have privacy features? There are already proposals for this. It's probably just a matter of when.

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