altcoins are all dying

[Jeezy911]

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.

[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.  

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.

in our real world, saving interest rate is always lower than the fiat money printing rate. In order, for the society to find a better use of the money, like investing, or consuming.

just look at how much issue FreeTrade was getting into when he use the "tax" to pay 5 CxOs 58MMC a day, without observable work required. The more coin you have, the more coin you will earn, that concept will not work with late adopters, so there will not be late adopters.

[solid12345]

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...

[infofront]

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...

Busting my ass at work everyday to pay my $550/mo electric bill, and pay for $1000s in hardware is labor.

[wasamata]

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.

Pure bollocks.

[solid12345]

Busting my ass at work everyday to pay my $550/mo electric bill, and pay for $1000s in hardware is labor.

And I'm going to work everyday and risking my paycheck to buy expensive coins with no guarantee I'll profit, how is me buying a POS coin somehow more "socialist", traders actually take the bigger risk because we don't have a little mathematical formula and website telling us what coin to buy and dump to break even on a daily basis.

[portice]

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...

Busting my ass at work everyday to pay my $550/mo electric bill, and pay for $1000s in hardware is labor.

No, it isn't, its called speculation, learn the difference.

[eddilicious]

Busting my ass at work everyday to pay my $550/mo electric bill, and pay for $1000s in hardware is labor.

And I'm going to work everyday and risking my paycheck to buy expensive coins with no guarantee I'll profit, how is me buying a POS coin somehow more "socialist", traders actually take the bigger risk because we don't have a little mathematical formula and website telling us what coin to buy and dump to break even on a daily basis.

let us look how bitcoin helps late adopters, when cgminer came out, gpu'ers mined all fresh coins; when asic came out, the first ones got all fresh mined coins; when erupter blade came out, the highest payer mined all fresh coins. I am not a fan of btc, b/c I think it should die now, with so many problems. but that is one thing it did right to survive.

It always gives late adopters an opportunity to beat the system.

for POS coins, where is the future for late adopters? say 4 years from now.

[gustav]

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.

+1

i myself holding lots of different coins and entered 5 more today alone ... some of them were 95% down so it was a bargain, but someone else lost 95% ... i still have megacoin and it hurts, now primecoin goes downhill ...
I will absolutely not buy into ipos anytime soon and also buy at this stage into new coins only after they are 95% down from what they traded at first.
i just recommend: let all new coins untouched and let them loose that 80-98% at first before you buy in while we as a community should focus again on bringing back the better of the older coins and give those some value first before we move on to new coins.
Let's make sure good coins don't fade away because of the flood of new ones.
Also: aurora made a splash, ok. But it didn't even play out yet and we didn't even see if it is scam or fail and there are already cloned projects for other countries that will fail for that matter for sure. Because they copy something that hasn't even played out. And in the end everything fails because nothing was finished - only 1000 things were begun and nothing finished.  


also like only 50% maximum of wallets of new coins pass the malwaretest.
We should also absolutely not touch malware infested shit. It makes me sick to see malware infested shit being pumped while clean coins get dumped. This is not rational.

raise the bar for new coins! Let shit die without pumping it even once! Stop pumping and dumping coins that are not worthy to invest in! If you have to pump and dump,pump something decent at least!

[eddilicious]

And in the end everything fails because nothing was finished - only 1000 things were begun and nothing finished.  

+1000. The reason why btc survived so long, is because more and more developers join it.

[eddilicious]

There must be some new idea to make any or altcoins more mainstream. For sure any more clones of already existing coins doesn't help, but most of altcoins will be doing fine as long as people would be using them.

The ultimate coin will be very different to anything that exists today.

Whatever it is won't be based on the current Bitcoin client or existing protocol.

I believe there will be a separation of transaction confirmation / processing and mining at some point in the future.

The current add ip address and setup config thing scares away most of joe 6 packs, who wrote the bitcoin software like that and how come ppl just get used to it. bitcomet never asked me that.

[glendall]

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.

[Bit_Happy]

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.  

[XbladeX]

LTC is still copy-paste, who remembers tenebrix and fairbrix  ..what was that other shit geist gold or something. sat doing nothing for years then only saw a rise after keiser pump. joke coin, not the silver. ASIC centralisation quietly on the horizon, and it's supposed to be ASIC proof as a main attraction. Supporting LTC will be supporting the manafacturers who will sell their units at xxxx% markups.
 
Real innovations are not these flappcoin, country-gimmick coin or other shit clone flavor of the week emulating bitcoin and mined by few 15 year olds for extra pocket money,which will eventually completely reach saturation point. some will make money orchestrating these scams and some will be bagholders. the innovation is with entirely new concepts that provide brand new decentralised solutions to centralised problems in exactly the way bitcoin did.

for instance, hundreds of thousands of coins have been lost because of these centralised points of failures. Gox. BTCT, Bitfunder, GLBSE the list can go on for ever. Hundreds of millions of $'s destroyed because of centralised points of failures. With assets which offer P2P decentralised exchange built upon bitcoins distributed blockchain these are a thing of the past
of these next gen protocol layers that serve real functions, counterparty (XCP) is the fairest and here right now. It's my opinion this is the true dark horse out of current line-up.  These provide VALUE beyond short-term speculative interest. PTS, MSC, ETH are money grabs primarily and so far more talk than action. ANXT is good, with a fantastic community but the distribution model was flawed, the wealth disparity there is way too skewed

 

you obviously dont , fairbrix is a based on mutli coin where as litecoin is based on bitcoin.

and Litecoin asics offer no real advantage over gpus.

When 1st Sha256 Asics comes out they weren't powerfull too.
But soon their pottetial rised eg usb from 0.33Ghs to 5.3Ghs...
Same path will be with Scrypt just take them time.

I remember year ego all was talking that LTC will be ASICs free high cost ext...
And what bullshit talking all time guys be honest in reality LTC is not superrior than BTC...
10m block vs 2.5m block don't change game at all... when you have coins like BC 5-15s transactions
4x more coins who cares... Doge and others has more 500B +.
- MAIN advantage LTC was ASICs free but now we have ASICs / they will be better/cheaper no matter what you will say in future

Today LTC have nothing special over BTC in future coins like NEM, Emunie, Etherum, Exo can take it place.
LTC price is shielded by script alts then those alts will lost anouth value LTC won't be shielded and all farmers for BTC will go to LTC straight.

Some good POS systems are also interesting.

Alt without concept spaming arroud are killiing prices that is all.
Starting alts should be traded with Doge problem solved.

[jabo38]

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.   

[shlswq]

That's not going to happen.

[kelpa]

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

these coins ALL have no future but pump and dump.

[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.

[reRaise]

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

these coins ALL have no future but pump and dump.

O just shut up

[eddilicious]

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?