altcoins are all dying

[reRaise]

Can someone delete this thread. Top alts are far from dead, this guy sees a bearish trend and gets emotional. Very short minded.  Majority of the people don't even know what Bitcoin is.

on your request, I change the thread name to "altcoins are all dying". just look at www.coinwarz.com, I guess you are ok with the new subject name, right?

Top alts will stay, maybe even give Bitcoin a run for it's money. A bearish trend isn't really an indicator for your title. I agree with your ipo argument though

[eddilicious]

altcoins are just a measure of the mania.  it is a saturated market.  Sure there was a window where it made sense to mine/trade, but once the dust settles, the volume will shrivel up, there will be no more buyers and prices just implode.

Prices already imploded, and threads like this one (everybody Bearish) means it might be time to turn Bullish soon.

Talk about best time to buy, when I started the thread, I was all in btc with multiple bids 30%-50% below market price, then I wake up the next morning.  All my bids got hit, and some of them fell another 20% from my bid. Even worse, there is no dead cat bounce. It just stay at new bottom. Is it best time to buy? Or is it going to die? I am in panic mode

The lack of a bounce is even worse than getting behind, since every bounce gives you a chance to take small profits and lower your average cost even more.

When I'm "in too deep" and cannot simply buy more, here is what I do:
Sell ~20% even if it's at a loss and put in orders to buy back lower. Now if it goes down you improved your position (at least a little) and if it goes up (enough) the other 80% will still make money.

Recovery takes time, but you can dramatically improve a situation with several "day trades"...
It doesn't matter which direction the market moves, it just needs to move, and bounce.  

after dropping 95%, some coin was able to bottom out, some coin drop another 95%. at this time, it is true test to the strength of the community, or the depth of the dev's pocket.  

[stevegreer]

I am not buying this PoS concept. For one reason, human society does not favor socialism in the past. If you can get paid without effort, then nobody will end up working.

POS isn't totally without effort. Well, for miners at least. Zeit is a POW/POS coin that I have spent a lot of resources (effort) mining in the POW phase in order to build up a supply in my wallet to generate more coins in the upcoming POS phase.

[anyone4u]

pretty much , all clone coins with no real dev teams are dying and they should be.

now lots of alt with good dev team got dumped too.

lots of coins see a 20%+ crash in a single day, DGC, VERT, AUR, MEC, CSC, TAG, SXC and the list goes on.

half a billion LOT just got dumped rofl

cryptsy, I think you need to compare the daily deposit of BTC + LTC to the daily deposit of alt coin to decide the speed of adding new coins. The trend is killing your business.

all the new coins you added recently, just come to share the pool of btc and ltc in your accounts.

trading sites make a percentage of trades (if they charge) weather you are trading shit for pen or dog for cat or whale for bull, they really don't care, well most of them what you are trading, they would trade refrigerators for ball caps if they could profit from it

[anyone4u]

just like Bitcoin's value always went up when difficulty increased drastically.

no, look at merged mined ixc and dvc. btc did not go up because of difficulty increase. its difficulty increased from 1b to 4b today. the price halved.

Yes it did, but the very short-term does not really matter. We'll have to wait to see if the correlation remains.

Most alt will not,when what happend on mt.gox

mt gox was in the illigal drug trade business, and didn't update code when they were informed about problems, aka plausible deniability

[anyone4u]

Look at the long-term graph for any old coin that is on Cryptsy, they were all dying, getter lower and lower from September to November. Then you know what happened. Just sayin'

Yes they then exploded due to articles in the NYTimes and Wall Street Journal etc brought new money in, now it seems the only money goes to the latest pump n dump scam...........

cryptsy plan to add new take out old will just create a cycle where only money can be made by those in and out of the new coins as quick as they can then move to the next......that game will only ever last a few rounds, too many people get burnt and leave.
thats a win lose model...that leads to a lose lose model
yet it is possible to have a win win model.

its like those in the multi level marketing scheme, there isusually no loyalty, heck i get scammers every day telling me to join "the biggest and the best, then the next day "biggest and best, I sometimes write them back saying how can I afford to join all your scams since all of them are better than the last, you don't really have any credability.... unless credability = im a big time liar, which you have a lot of credability in...
sometimes they write back saying "I didn't ask for you to deposit $1k, or join any program, when their specific (or most) say "get in now, deposit and join....."

[anyone4u]

It is like the Cambrian Explosion of alt coins.  Only a few will survive.  https://en.wikipedia.org/wiki/Cambrian_explosion

I was thinking more of the stockcertificate scams of past years. Invest in x # year bonds, you will get % of return, only to find out that the companies have recalled all the bonds/went bankrupt only to do more scams getting them rich.

[anyone4u]

No worries here, the market will correct itself as usual. As soon new wanna-be devs figure out adding bunch of new coins is not profitable, they ll stop making them. One way or another, only 3-5 alt coins can survive this race. The rest is junk.

3-5 and how many people are on the planet? That would be like billions just evaporated...

[anyone4u]

What we need is PoS COINS. Not scrypt, Not Sha, Not anything besides PoS.

PoS= Proof of Stake, where No Mining is involved!

Those are the future of cryptocurrencies.

I am not buying this PoS concept. For one reason, human society does not favor socialism in the past. If you can get paid without effort, then nobody will end up working. If you want to succeed, you work harder than others. so far I am wrong with pos coins, they seems to be hold on longer than pow coins, but we will meet in the finish line. When satoshi create btc, he actually had an economic model in his mind(the distribution cycle is much better than mec or the rest), those pos, has nothing comparable.  

POS coins are all I go into, and I believe in the concept as a hard conservative. The reason society hasn't bought into socialistic money principals is because it is really hard to "Believe" when you deposit money into a savings account and get .01% interest a year. It's just plain bullshit.

meanwhile, they can loan .07 from your original .01 deposit. Then they can charge you interest depending on your credit score, or simply say "nope can't loan to you because of your credit score". its a rigged system, did they actually ask you why your score was that bad or whatever and then offer assistance such as job finding for you so you could get the loan you might need? nope....

[anyone4u]

What we need is PoS COINS. Not scrypt, Not Sha, Not anything besides PoS.

PoS= Proof of Stake, where No Mining is involved!

Those are the future of cryptocurrencies.

I am not buying this PoS concept. For one reason, human society does not favor socialism in the past. If you can get paid without effort, then nobody will end up working. If you want to succeed, you work harder than others. so far I am wrong with pos coins, they seems to be hold on longer than pow coins, but we will meet in the finish line. When satoshi create btc, he actually had an economic model in his mind(the distribution cycle is much better than mec or the rest), those pos, has nothing comparable.  

Turning on your computer and running a script to mine for coins hardly meets the definition of labor, just saying...

It does if 1 gpu = 1 person. Also pools say enter worker password, so legitimately you are working.

[lynn_402]

Legit coins are not dying.. See today's Vertcoin growth

[anyone4u]

It's not that we have too many alt coins. It is that we have too many useless alt coins.

We have almost 500 released coins now, it is crazy. But there have been some good ones. Like POS coins were mentioned, I really like Hobonickels, the upcoming wallet is awesome. But I'm really sick of all the copy-pasta coins that took someone a weekend to make. I don't know why people buy into Sexcoin and Potcoin and Lottocoin and all the 100's of stupid coins, but I never understood why Doge coin blew up either.

You can't stop people from making dumb coins but I sure wish they would collapse sooner that later. It has gotten to the point where you can't even follow coin development anymore because of all crap, unless you want to spend 4 hours a day going through the muck to find the diamond.

potcoin is for pot which about 50 % of population uses, sexcoin is for sex as internet is for porn (look it up), lottocoin is for the people who buy lotto tickets gambling which is a sin and contributing usually nothing to society while living off welfair and handouts.

[anyone4u]

mining was a good idea to get cryptos started.  it made sense.  trick people into spending money into buying computers and wasting electricity to just get computers to do what amounts to "busy work" while selling the line that they are "protecting the network" while actually the majority of the computer power and electricity are not needed to protect the network. 

the way I see mining is like this.  i jump up in the air up and down lots and lots and if I am lucky, I win a lottery and a coin falls down from the sky.  i can then say "I earned" the coin by doing pointless jumping up and down and therefore the coin is worth something.  somehow... people (including myself, crying) buy into this idea.  that pointless jumping up and down makes coins worth something. 

a much better system should be designed where people are really rewarded for EFFICIENTLY maintaining a network, you know, like getting paid for doing something that was actually useful.  that is how the real world works.  so yeah, altcoins that are not providing innovation are dead.   

strange you are on this forum (bitcointalk) then you go on to say you are not doing anything.... The question is then how did your computer/web tv/phone whatever connect to internet and come to this site and post for you if you didn't do anything?

[anyone4u]

because it is completely useless, and most of the time random

these coins ALL have no future but pump and dump.

seems we have a physic in this forum. Strange how you evaluated every coin to date and yet post no analysis or support to support your physic abilities but only a sentence.

[eddilicious]

What we need is PoS COINS. Not scrypt, Not Sha, Not anything besides PoS.

PoS= Proof of Stake, where No Mining is involved!

Those are the future of cryptocurrencies.

I am not buying this PoS concept. For one reason, human society does not favor socialism in the past. If you can get paid without effort, then nobody will end up working. If you want to succeed, you work harder than others. so far I am wrong with pos coins, they seems to be hold on longer than pow coins, but we will meet in the finish line. When satoshi create btc, he actually had an economic model in his mind(the distribution cycle is much better than mec or the rest), those pos, has nothing comparable.  

Turning on your computer and running a script to mine for coins hardly meets the definition of labor, just saying...

it is not that only human beings can be a labor. one overheated gpu is a labor too.

an day you play CoD is a day you are not making a penny.

an outdated 386 with a POS client opening on the desktop waiting for new coins to rain does not count as a labor, because it can bearly do anything at all. And I can still open 10 client window on that 386, all waiting for new coin.

[williamevanl]

Hey! They are all copies of the exact @#%@@! thing. What was everybody expecting to happen?

[eddilicious]

It's not that we have too many alt coins. It is that we have too many useless alt coins.

We have almost 500 released coins now, it is crazy. But there have been some good ones. Like POS coins were mentioned, I really like Hobonickels, the upcoming wallet is awesome. But I'm really sick of all the copy-pasta coins that took someone a weekend to make. I don't know why people buy into Sexcoin and Potcoin and Lottocoin and all the 100's of stupid coins, but I never understood why Doge coin blew up either.

You can't stop people from making dumb coins but I sure wish they would collapse sooner that later. It has gotten to the point where you can't even follow coin development anymore because of all crap, unless you want to spend 4 hours a day going through the muck to find the diamond.

potcoin is for pot which about 50 % of population uses, sexcoin is for sex as internet is for porn (look it up), lottocoin is for the people who buy lotto tickets gambling which is a sin and contributing usually nothing to society while living off welfair and handouts.

I think lottocoin fails to deliver. the other two seems hanging around very well.

[eddilicious]

I am not buying this PoS concept. For one reason, human society does not favor socialism in the past. If you can get paid without effort, then nobody will end up working.

POS isn't totally without effort. Well, for miners at least. Zeit is a POW/POS coin that I have spent a lot of resources (effort) mining in the POW phase in order to build up a supply in my wallet to generate more coins in the upcoming POS phase.

here is my thinking. because cryptos have so many 0s after decimal point, so the number of coins does not matter. 42 coins = 42m coins = 42b coins. it is not like USD has to be at least 1 penny, YEN has to be at least 1YEN. 1 coin in 42m = 100 satoshi in 42. you can always divide into the exact amount you want to spend.

now, for POS coin, the initial distribution is 100m. Everyone turn on the computer and wait for the interest payment. 1 year later, the total pool is 200m. what is the difference? 1 year ago, you have 1 coin in 100m, now, you have 2 coin in 200m. Is it not the same?

the POS theory, is like buy aapl stock at $1000, if it split 1000 times, everyone will have $1000x1000 = $1 million. no! you still have 1000. that is how much this company is worth.

[XbladeX]

I am not buying this PoS concept. For one reason, human society does not favor socialism in the past. If you can get paid without effort, then nobody will end up working.

POS isn't totally without effort. Well, for miners at least. Zeit is a POW/POS coin that I have spent a lot of resources (effort) mining in the POW phase in order to build up a supply in my wallet to generate more coins in the upcoming POS phase.

here is my thinking. because cryptos have so many 0s after decimal point, so the number of coins does not matter. 42 coins = 42m coins = 42b coins. it is not like USD has to be at least 1 penny, YEN has to be at least 1YEN. 1 coin in 42m = 100 satoshi in 42. you can always divide into the exact amount you want to spend.

now, for POS coin, the initial distribution is 100m. Everyone turn on the computer and wait for the interest payment. 1 year later, the total pool is 200m. what is the difference? 1 year ago, you have 1 coin in 100m, now, you have 2 coin in 200m. Is it not the same?

the POS theory, is like buy apl stock at $1000, if it split 1000 times, everyone will have $1000x1000 = $1 million. no! you still have 1000. that is how much this company is worth.

Not exact.y they is something like supply / demand if you create demand eg servise only with payed with one coins eg BC...
POS system have such + that inflation goes directly to your pocket.
In coparison imagine that you are central bank you produce money.
With POW is more like today goverment/miners produce inflation those who keep money are losing them simple.
Problem with POS is only one expand user base make it popular.

Big - is that you have to be very creative to attract new people in
,while POW do it just by higher prices of coin
then miners go to coin and promote it mine it sell it like it was with LTC price road up...
But expensive ASICs soon will kill LTC popularity ;( no real advantage over BTC.
Aiscs will kill most of script coins vaule but time will come to LTC to ^^.

If you don't want POS with failing in value just chose Cash or BC... with low inflation not HBN +100%...
Or even quark(Zet soon) this coin is almost POS since is mined in 98%...

[majorminers]

The next big thing is coming soon!  Altcoins don't die - they multiply.