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eddilicious (OP)
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March 15, 2014, 03:21:51 PM
Last edit: March 20, 2014, 12:18:28 AM by eddilicious |
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There is only one reason, the inflation rate of the coins are much bigger than the community can support. @FreeTrade has a good analysis how many btcs required to support a coin each day. Altcoin is a big family, money move in and out any minute, eventually they should be treated as one society. The inflation rate in this society is way too high.
so wannabe devs, please stop making new coins, you are not going to get your time of money back.if you need so many btc premine to support your expense, why don't you just buy off the entire stock of some current coins in teen satoshi level. it has pools, has exchanges, saving all your so called cost, and your time as well.
ppl, stop buying ipos, stop buying coins from those ipo investors, the ongoing demand cannot support newly issued coins, you are going to see your investment halved, and halved again and again.
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El Dude
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March 15, 2014, 03:29:43 PM |
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pretty much , all clone coins with no real dev teams are dying and they should be.
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Bitcoin and Litecoin hodler
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eddilicious (OP)
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March 16, 2014, 03:47:22 AM |
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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. |
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Oldminer
Legendary
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Activity: 1022
Merit: 1001
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March 16, 2014, 03:49:23 AM |
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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 |
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eddilicious (OP)
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March 16, 2014, 04:07:30 AM |
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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 I still believe lots of alt coins are better than btc, inflation kill them all. |
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eddilicious (OP)
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March 16, 2014, 04:13:44 AM |
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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. |
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zackclark70
Legendary
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Activity: 868
Merit: 1000
ADT developer
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March 16, 2014, 04:15:01 AM |
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ADT takes very little btc/day to keep its price as its very close to proof of stake only !
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kelsey
Legendary
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Activity: 1876
Merit: 1000
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March 16, 2014, 04:37:53 AM |
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cryptsy adding new coins in such bearish conditions is not helping. too many coins is the cause of the bear market.
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lynn_402
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March 16, 2014, 04:42:42 AM |
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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'  ie. YaCoin passed from 0.0004 BTC in July to 0.00000350 BTC in November, and then it ridiculously bubbled. We may be near that phase. Plus, I believe the new asic scrypt miners will make the price go up, just like Bitcoin's value always went up when difficulty increased drastically. |
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eddilicious (OP)
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March 16, 2014, 04:50:06 AM |
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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. |
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lynn_402
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March 16, 2014, 04:51:48 AM |
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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. |
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yaya
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March 16, 2014, 04:58:40 AM |
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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 |
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kelsey
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Activity: 1876
Merit: 1000
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March 16, 2014, 05:07:55 AM |
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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. |
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lynn_402
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March 16, 2014, 05:12:16 AM |
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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. Indeed cryptos look bleak right now, but I'm sure the media is not finished talking about them. They're still in their infancy, hence the apparent risks. But I believe  |
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kelsey
Legendary
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Activity: 1876
Merit: 1000
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March 16, 2014, 05:37:40 AM |
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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. Indeed cryptos look bleak right now, but I'm sure the media is not finished talking about them. They're still in their infancy, hence the apparent risks. But I believe Seems the buyers prior to sept where from the lets pick a coin with a quality dev team behind, hold for a year or 2 and maybe we'll have another litcoin. Since then though the new money seems to want to just be in a pump coin and if its not moving after a few days they panic. Personally I've been buying up the older more established coins, but almost seems like I'm the only one fortune favors the brave and did work great for me sept/oct last bear. |
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Mjbmonetarymetals
Legendary
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Activity: 1096
Merit: 1067
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March 16, 2014, 09:29:07 AM |
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It was still an important period for CryptoCurrency to allow this free flow of new altcoins the market is beginning to realise that if a new altcoin arrives in days weeks and topples Bitcoin or litecoin this is a disastrous situation for the whole class of CryptoCurrency and everybody in it.
I would suggest to make Bitcoin and litecoin at least 80% of your portfolio spreading your time energy and resources across 10,20 30 altcoins is completely unsustainable.
Bitcoin and litecoin are the foundation on which CryptoCurrency is built, do you all really want to see headlines "hotdog coin takes bitcoins crown" because CryptoCurrency will be come the hyper inflated laughing stock of the world"
Why mention litecoin ? Litecoin is the altcoin, future exchanges are unlikely to follow the chaotic process of having hundreds of alts maybe just the one or two.
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Bitrated user: Mick.
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eightspaces
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March 16, 2014, 09:30:34 AM |
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because it is completely useless, and most of the time random
these coins ALL have no future but pump and dump.
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Notanon
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March 16, 2014, 09:49:00 AM |
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I'm starting to consolidate towards Peercoin, myself. Have a bit of LTC still left in my wallet, but will focus more on Peercoin regardless (including exchanging some BTC that I mine via Hashco.ws for it).
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eddilicious (OP)
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March 16, 2014, 12:36:10 PM |
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I'm starting to consolidate towards Peercoin, myself. Have a bit of LTC still left in my wallet, but will focus more on Peercoin regardless (including exchanging some BTC that I mine via Hashco.ws for it).
why peercoin? it seems to be at the bottom, and the trading band is narrowing fast. you know what happens when trading band narrowing means to alt coin? another down trend will begin soon. look at XPM, QRK(I just use the coin at the same age). how will ppc be different? |
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