Why there is so many altcoins?

[vleroybrown]

No worries here. Garabage is garbage and coins with real technical/technological inovations will survive.

I think most realize the gravy train is ending.  Aside from eco-systems with real innovation such as Nxt, Etherium, Mastercoin, Bitshares etc... I would guess most will see worse returns on alts than they did the year before. I could be wrong.

NXT  SQL DATABASE coins distributed among 75 people, who are you kidding?

Mastercoin good luck no traction what so ever there people moved on, no need to elaborate.

Etherium, smart contracts where there is no judge or laws that can be effective, just another way to scam others, useless altcoins for indviduals for exchange, anon corporates just waiting for a slap from the USA will never see the light of day after that, dream on Etherium

Money is Money, it has been like this for thousands of years no technological innovation will change the game of who has more. You buy something you have less, you sell you have more money.
Check your bank account webpage it has been the same way since 1996 with all their resouces, because nothing further is necessary to keep the accounting.

That's all there is to it, so people should not over-fantasize about crypto and all that's involved with it.

Nothing will ever change that, crypto is just a better way to do the accounting.

Marinecoin
www.marinecoin.org

WOW RENAME THIS ONE ASAP- DOUCHE COIN

[Relnarien]

As long as crypto exchanges are unregulated, this trend will continue. All it takes for a scammer/dumper to make money from a quick launch of a copypasta coin is an exchange willing to put up a pairing for it and the support of other dumpers with the same mindset.

[markm]

So simply by not using such scam-exchanges people can avoid most of the scams.

If a coin doesn't show up on a reputable exchange there is probably a good reason.

If an exchange lists every scam that comes along it is blatantly obvious it is a scam-exchange and should be avoided.

Pretty simple for the most part.

Except that sometimes some pretty crappy coins do somehow get onto a reputable exchange, maybe such exchanges should be more aggressive about dropping coins that have insanely low hash rates for example since such coins are just 51+% attacks waiting to happen.

(For example all scrypt coins other than maybe - just maybe - either Litecoin or DOGE. Though realistically it is probably best to assume both of them are too insecure also.)

-MarkM-

[wallstreetcoiner]

If an exchange lists every scam that comes along it is blatantly obvious it is a scam-exchange and should be avoided.

Exchanges list coins based on trading price and volume. As previous poster stated, Goldcoin is the one keep eye on. Once its listed on BTC-e the price is going to moon. I see the coins developer is being called the next Satoshi on reddit.

[kalus]

Are we going to stop using starbucks cards and target cards

If there is an incentive to change currency, people will do it.

when did we start using starbucks cards and target cards

YOU are the product they're researching. If you meet someone in the datamining industry sometime ask nicely to have a look at their wallet, and they will have zero loyalty cards. 

[HCLivess]

People are now slowly coming back to LTC and VTC 

[Slingshot]

RE: Why there is so many altcoins?
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 For lack of a better word it's GREED.

 And much FRAUD.

 And many Scams and Schemes.


 Plus some are really attempting ethical alternatives. But those are clearly in the minority.



Caveat emptor - let the buyer beware

[chernish2]

Can you tell me what is the scheme exactly in the case of launching new shitcoin with 0% premine? What is the dev team expectations? What is their profit?

[wasamata]

Can you tell me what is the scheme exactly in the case of launching new shitcoin with 0% premine? What is the dev team expectations? What is their profit?

Ah, because someone paid them to do it?
Greedy developers is the cause nothing else.
Questions is, what can we as a community do about it?

[chernish2]

Can you tell me what is the scheme exactly in the case of launching new shitcoin with 0% premine? What is the dev team expectations? What is their profit?

Ah, because someone paid them to do it?

Ok, who is that "someone"? What is his ultimate goal? What for he invests his money?

[wasamata]

I see your point. Yes, I would like to know also.

[FoBoT]

If there is an incentive to change currency, people will do it.  If there is an incentive NOT to change currency, people will not change.

agreed, the system should be self regulating, if left to it's own , without undo non-market force influence

[Relnarien]

Can you tell me what is the scheme exactly in the case of launching new shitcoin with 0% premine? What is the dev team expectations? What is their profit?

It's pretty simple. I'll list down the steps for you.

1. Scamdev launches a copypasta coin that he/he can mine around 1m of per day for the first 2 days
2. Scamdev pleads to the community to get his/her coin accepted into an exchange
3. Other scamdumpers who are able to mine a large amount of the coin gives their support to the scamdev
4. All that pleading to get the coin into an exchange is misconstrued as community support by the rest of the community
5. The coin gets into an exchange within 2-5 days of the launch
6. The scamdev and all the other scamdumpers who rode on his coattails dump millions of the coin on the exchange

The profit made from dumping those millions of coins vary depending on the amount of coins generated so far and how much hype the coin was given. Coins with block rewards in the hundred thousands usually sell for 1 satoshi apiece upon getting into its first exchange, and would easily net early dumpers at least 1 BTC before people start wising up. Coins with lower block rewards usually get an initial value between 200-2500 satoshi, depending on its specs, and would net early dumpers about 1-5 BTC.

[marine4u]

Can you tell me what is the scheme exactly in the case of launching new shitcoin with 0% premine? What is the dev team expectations? What is their profit?

Marinecoin is doing all this new altcoin bombardment, you haven't read the begining of the thread obviously,

The goal is to saturate the crypto market, thin out all altcoins exchange volumes and their hashrates.
Marinecoin is the only currency that can survive in such an enviroment it is mathematical.
It is done, and comes as a cost to protect our investments for merchant integration.

Finally people will stop selling electricity at different prices based on flavour. All crypto should be hashable thus must consume electricity they are all the same.
ex: Lemoncoin, electrity based on lemon flavour, Vegascoin electricity flavoured to the spirit of LasVegas, this is what is going right now,

We will oversaturate this and put an end to this.

The exchange MTC parity is like a helium baloon, it just rises up, it is buoyant.
We will not be affected like other altcoins, as their following base will shrink,

All Crypto
Tier 1    Established trusted cryptos with financial investment capacity for protecting and implementing own interests aggressivelly, price stable only goes up.
Tier 2    Well known names traded out of tradition because they are old, prices and volumes dwindle as time goes by, highly volatile, impractical for merchants to accept unless they have gambling problems.
Tier 3    Altcoins with minimum dedicated followers the coin price struggles but people can get out to a tier 2 and after to tier 1 for actual Worldwide merchant spending
Tier 4    (this is the new stream of altcoins created) will be identical to tier 3 in everyway, if you are lucky you can trade it to a tier 3 on a junk exchange and get out of your position.


if you reject this than you don't understand Marinecoin ecosystem www.marinecoin.org

[wasamata]

That is why there needed to be a central alt authority through which all new coin alternatives needed to be approved first and quality assured.
No rules and free for all just ends being a scammy greed filled cesspit, sucking the blood from the majority of others and undermining some of the good
that could have been.

[chernish2]

Thank you for detailed explanation, but I would like to make clear just two things, if you don't mind

1. Scamdev launches a copypasta coin that he/he can mine around 1m of per day for the first 2 days
6. The scamdev and all the other scamdumpers who rode on his coattails dump millions of the coin on the exchange

1. With a coins such as 365 coin premine seems to be impossible because they stated that this is zero-premine coin. So what is the idea behind developing a new shitcoin if devs/investors can just mine any other new launched shit?
6. Who are those idiots who would buy dumped shit? What for they are doing it?

Please enough of this Marinecoin stuff here, my topic is not about this.

[griffinriz]

The nonsense of clone coins should stop,bring new idea and then create a coin instead of cloning and naming it ShitCoin etc..

[toknormal]

Mastercoin good luck no traction what so ever there people moved on, no need to elaborate.

Agreed.

Etherium, smart contracts where there is no judge or laws that can be effective, just another way to scam others, useless altcoins for indviduals for exchange, anon corporates just waiting for a slap from the USA will never see the light of day after that, dream on Etherium

Agreed.

NXT  SQL DATABASE coins distributed among 75 people, who are you kidding?

Not agreed.

If poster thinks that distribution is the worst of NXT's problems then it's in a very strong position.

[toknormal]

There is going to be a huge consolidation in the alts soon.

What the prices and exchanges don't reveal is the extent to which Bitcoin is pulling away from all the alts in terms of infrastructure.

It's an iceberg. Right at this moment, VC's are pumping cash into the Bitcoin service companies, retailers are increasingly accepting it, financiers are creating derivatives for it and entrepreneurs are progressing with their work to bring it to the stock exchanges of the world. Using Bitcoin as a reference, it takes about 6 years for a coin to reach such maturity:

4 years to wash out all the tosh (test it against hacks, exchanges collapses, loss of confidence, rebuild of confidence etc)

2 years to build and consolidate a suitable ingfrastructure

All of this is going on in Bitcoin only. Some few alts might still be viable, but merely as liquidity fronts for Bitcoin.

I've pulled out of all alts and left a little in NXT, PPC, XPM and LTC, being hedges for anything happening to Bitcoin. (NXT does actually have a huge amount of infrastructure development work going on, so I don't include that as one of the alts the will disappear anytime soon).

You can see it happening already. "Going on Cryptsy" used to be a 'pump' signal for everybody. Now it's a 'dump' signal because everyone knows that it's the last chance for the miners to rape the value out of their coin before it hits rockbottom.

We are living in changing times.

[Disastrus]

You haven't seen anything yet, it is Marinecoins goal to create %75 of new altcoins just this year.


Multiple new altcoin release initial announcement by Marinecoin

Today at 07:19:53 PM

Reply with quote Edit message Delete message  #1
 

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This is a multiple new coin release initial announcement by Marinecoin. We are talking about thousands of new alt coins here within a year.
 
New Altcoin bombardment just started.

We will announce all new coin announcements here and on many other platforms simultaneously and anonymously.

As Marinecoin it came to our understanding that the more useful or useless altcoins there are on the altcoin arena the better, it works very well with Marinecoin’s overall long-term strategy.
Marinecoin has decided to flood the altcoin arena with new more multiple altcoins with new concepts, demographics and features everyday. Thousands of them will be announced this year.

No-premine 1 to 100% premine concepts, different algorithm, cloned other protocols and different types of concepts etc, you name it.

We have gathered resources teams of people who will do these creative works for us, they will not be copycat coingen alt coins.
They will all be indistinguishable.  All new coin announcements will be unique, professionally made with full support and come with a seemingly energetic developer, and an initial active community eager to have them exchanged.

We hope you will enjoy these stream of alt coins that we will announce this year from today on.

However at no time Marinecoin will admit any relation to these new alt coins, to give all of them a fair chance and not to hinder their potential by being the source for all of them.
We will go as far as denying on forums threads of any relationship to Marinecoin as being the source to these stream of new altcoins that are about to flood the exchanges.

So enjoy this years stream of new alt coins that will be released from our end among others, you never know the next coin you are after might be ours.

Marinecoin
www.marinecoin.org

and an award for the most retarded post of the day, let alone the motivation