Im over it with Altcoins.....

[Bit_Happy]

That's the nature of altcoins. In order for one to really blow up and make you a lot of money, 50 more people have to lose money with some other alt coins. It's very high risk, very high reward. That's why I've decided to stay out of the altcoin market, I think it's too much risk, stress and worry. Well that and I don't really have any belief or interest in them outside the possibility of making a lot of money. Whereas I actually believe in bitcoin and the freedom it can give people from banks and governments.

The answer to many of the alts is "Hey, we can do that with BTC"

[Oldminer]

No, just give up. Sell everything.

[SlipperySlope]

Is anyone else with me on this?
Im on the verge of selling my mining rig, power costs are too expensive for the return...

Why don't you hold on to your rigs for a few more months powered off?

Even as difficulty rises, mining altcoins can be profitable despite high power costs if the coins are rising even more in value. Many observers believe that we are presently in the collapse of the November 2013 bitcoin price bubble and that the next bubble is due approximately mid summer. If this year's bubble is similar to the November 2013 bubble, then Litecoin and the other altcoin prices will follow bitcoin prices upwards - and probably make GPU mining again profitable for a while.

[ilesef]

in my point of view alt coints are here to stay

Due to the milion reason bitcoin is not good enunought to be "world reserve coint" in the same time "micropaysiystem" in the same time pos payment etc

so here is the the place for more coint

i'm not a big miner and not mining just for profit of course  i wona my rig to pay for the initial investition nothing more

in My point of view there will be need for more tehnological advanced coints

[Alohaboy?!]

why can't every coin be like bitcoin. $1000 at first hr it came out 

good one ^^

[toknormal]

I still get mixed views on NXT coin, i want to exchange what ive got with whatever will be the most likely successor to bitcoin

For me, NXT is the most promising alt out there. As a software developer, I like the idea that a 2nd generation alt has it's own blockchain. Kind of defeats the purpose otherwise.

Secondly, I like the fact that NXT has both a high and low level protocol to choose from when developing a client solution. Not only that, they are smack square in the centre of internet technology standards - http and JSON.

Thirdly, there are some very clever people doing a lot of work - not just on the network but on the economics and statistics of the coin,so that  it's demographics are very well understood. (Like, say this ... https://github.com/dmkaplan2000/nxt_state/blob/master/nxt_state.md)

Fourthly, whatever its fortunes as an alt coin, it's now becoming a bloody useful just as a service. A whole network of servers just sitting there able to provide, asset registration services, coloured coins, account transaction, messaging, alias management..whatever. The http (high level) protocol makes these so accessible that it's easy to see how a ton of client applications are currently in development, not to mention a choice of about 5 different wallet clients.

Fifthly, again, whatever it's fortunes as an alt coin, there is a viable business model in place. The network is going to make money from service provision - such as asset registration - so it's a million miles away from being simply a trading commodity.

I would never dump NXT at this stage. It's probably at its most undervalued level it will ever be because we are on the verge of a wave of new services and client applications for those services.

[lalakies23]

The most promising Alt coins are the Betacoin and the Cryptoeagle. Everything else is bs.

[toknormal]

The most promising Alt coins are the Betacoin and the Cryptoeagle. Everything else is bs.

That's what I like to hear.

People passionate about their coin !!!

[pandher]

[brooklynite]

I just cant get over the amount of crapcoins being introduced every day, its enough to make me loose interest in the whole thing altogether.

Its actually the opposite. There is not enough coins to cover the new hash power coming into the mining market. Imagine you have 100 mines (altcoins), and 100x100 workers, so its ok each mine has 100 workers and they are doing fine.

Then you get bus loads of cheap labor coming in daily, buses full of cheap workers (ASIC) and new workers (all the 280x that is in stock everywhere now).

What happens? You have overcrowding at mines. The mine owners can star paying you less and less. They used to have to pay a worker 0.015 BTC/MH/Day now they can get away with HALF of that or even less at 0.006 BTC/MH/Day.

So whats next?

We need more mines (aka coins).

The biggest devistation was the DOGE bock halfing that poured thousands of workers out which atacked the rest of the coins and made them way less profitable.

My RIG used to make 0.033 BTC that was worth $33/day. Now its making 0.013 BTC worth barely $9 - $5 power = $4 So I am at the verge of shutting it down.

But good news is this. Summer time. Many people, including myself, cant afford the heat in the house.

[brooklynite]

For me, NXT is the most promising alt out there. As a software developer, I like the idea that a 2nd generation alt has it's own blockchain. Kind of defeats the purpose otherwise.

Secondly, I like the fact that NXT has both a high and low level protocol to choose from when developing a client solution. Not only that, they are smack square in the centre of internet technology standards - http and JSON.

I would never dump NXT at this stage. It's probably at its most undervalued level it will ever be because we are on the verge of a wave of new services and client applications for those services.

Wasnt NXT just another scam coin, heavily premined by the Chinese??

[nzminer]

Follow this - a mining pool that targets profitable POW coins, then sells the alt coins to buy NXT, then distributes the NXT  to the miners.

Use your POW mining rig to generate NXT, the premier POS coin - cool idea!!

https://nextcoin.org/index.php/topic,4399.0.html

is this the pool i should use>
http://www.p00l.org/
It looks like someone is testing another pool in bata at the moment

[rikkejohn]

Is anyone else with me on this?
Im on the verge of selling my mining rig, power costs are too expensive for the return...
I have wasted alot of time mining mintcoin, digibyte and vertcoin, i think i should have just stuck with dogecoin, since i have more faith in this coin than any others.

I still get mixed views on NXT coin, i want to exchange what ive got with whatever will be the most likely successor to bitcoin.

I just cant get over the amount of crapcoins being introduced every day, its enough to make me loose interest in the whole thing altogether.
Is there any other coin i should have a crack at before ditching my rig?

try selling your power on ebay. Those guys charge way more than the coins they can mine. Undercut them and you'll still be ahead.

[solid12345]

We need more mines (aka coins).

The market won't sustain it, miners are all freaking out about ASICS and discussing N-factor coins but your biggest enemy is a market that is fed up with P&D's and being dumped on by thousands of new coins daily you're going to have no one to sell them to.

[drippx]

The altcoin market looks like its shaking out the weak hands

[El Dude]

Hodl litecoin

Fuck NXT and it's retarded distribution.

[V8x8d]

High coin maintenance will kill most alts, as scam coins (mainly Auroracoin) have drained a lot of cash out of the market.

[master-P]

There's so many alts out right now that it's nearly impossible to keep track of them all. Even the pump and dumps aren't as profitable as they used to be

[glerant]

There's so many alts out right now that it's nearly impossible to keep track of them all. Even the pump and dumps aren't as profitable as they used to be

Yeah! Alt porn fatigue! 

I think it will reach a tipping point where new alts will not get enough mining to launch at all - ie the only miners will be the devs/owners with small Hash rate on Azure trial. I am sure that there will be around 1 reasonably successful launch per month.
When some fiat shock or crypto hype going mainstream happens then Bitcoin will reinflate and along with it alts with interesting infrastructure or attributes. These will make the Autumn Alt blow up look like a moth farting. The other hundred or so alts will go up but not enough to make you rich yet. 

[galbros]

Definitely a mistake to stop mining.  The key is to find an alt coin you actually think offers something and that has a community and infrastructure behind it.  That is the only way to keep a coin from simply dropping straight down as so many of them do once they are listed on an exchange.

For all the hate, Doge is one of those that avoided the straight line of death simply because, joke that it was/is, some infrastructure came along for it.

Coins that seem interesting in that they are clearly different from BTC are Darkcoin and that huntercoin thing.  With the latter even if it goes to zero you can always play that game with it.  So don't quit mining, just quit trying to play the game everyone else is playing.