altcoins are all dying

[ISAWHIM]

Hmm... You could always.. I don't know... call me crazy... but...

SUPPORT your coin. (Singular)

Most of these coins are all based off a horrible model that is living in a novelty of its own design. This is what happens when you try to ride the coat-tails of success, and then only exploit it yourself.

These alt-coins were created to pull you off other coins and scam the stupid people with pumps! Success, it worked! (By the way, you are about a year late learning that, and complaining about it.)

Those who can sell, will sell. Those who can't, keep it going. Remember, someone is buying those coins that are selling. You should have sold at the top, and you should be buying at the discounted lows. Guess who is going to get more money than you... Everyone buying now...

Stop playing day-trader. You are not a day-trader. These are not day-trading exchanges. They are barely trade-exchanges.

Try going to the actual trade-exchanges where some of these "decent" coins live. There you can play day-trader all day long! Though I doubt you will do any better, until you learn how the trade-market works.

Try flat-out investing. It's a novel idea. Trading only lowers value. Well, the way you guys trade, it makes us value. lol.

Next time... There is always next time...

I hear there is a new coin... What's it called... Hold-on, let me get my WiKi of coins list... (You knew the problem. You just refused to admit it, act on it, or do anything about it. Reality fail. Listen to your gut next time, not the troll-boxes.)

First rule in investing is RESEARCH, second rule is RESEARCH, third rule is RESEARCH... I forget the fourth rule, but it may be RESEARCH.

[yop850]

I don't think anyone knows what's going to happen next.

If bitcoin falls a lot of people will be stuck with massive bags of alts that have dropped 20x faster than bitcoin.

On the other hand, if bitcoin goes up those alts should go up 20x faster. Someone here said it's more like a crap shoot than stock trading. I think he's right.

[AltCoinSpeculation]

Where's the Altcoin Graveyard? there might be some value in resurrection down the line...

[SBOSS]

I'm not investing into another no-name developer coin.  As far as I am concerned, they're all reskins by the same 5 or 6 people.

[HCLivess]

Weak hands will be shaken, bad developers will die, weak exchanges shall perish.

And it is a good thing.

[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.  

It is such a long wait. now even ltc is lossing support

[eddilicious]

Hmm... You could always.. I don't know... call me crazy... but...

SUPPORT your coin. (Singular)

Most of these coins are all based off a horrible model that is living in a novelty of its own design. This is what happens when you try to ride the coat-tails of success, and then only exploit it yourself.

These alt-coins were created to pull you off other coins and scam the stupid people with pumps! Success, it worked! (By the way, you are about a year late learning that, and complaining about it.)

Those who can sell, will sell. Those who can't, keep it going. Remember, someone is buying those coins that are selling. You should have sold at the top, and you should be buying at the discounted lows. Guess who is going to get more money than you... Everyone buying now...

Stop playing day-trader. You are not a day-trader. These are not day-trading exchanges. They are barely trade-exchanges.

Try going to the actual trade-exchanges where some of these "decent" coins live. There you can play day-trader all day long! Though I doubt you will do any better, until you learn how the trade-market works.

Try flat-out investing. It's a novel idea. Trading only lowers value. Well, the way you guys trade, it makes us value. lol.

Next time... There is always next time...

I hear there is a new coin... What's it called... Hold-on, let me get my WiKi of coins list... (You knew the problem. You just refused to admit it, act on it, or do anything about it. Reality fail. Listen to your gut next time, not the troll-boxes.)

First rule in investing is RESEARCH, second rule is RESEARCH, third rule is RESEARCH... I forget the fourth rule, but it may be RESEARCH.

f*** it, no matter how we research, everyday it just fall like a rock. maybe it is a rock.

[softron]

Problem is too many scamcoins

[softron]

Problem is too many scamcoins. People dont trust altcoins anymore, some devs just pump n dump d coin and leave investors to their fate. Some devs r not devs nd d coin ends up dead. But its just too much

[lynn_402]

Problem is too many scamcoins. People dont trust altcoins anymore, some devs just pump n dump d coin and leave investors to their fate. Some devs r not devs nd d coin ends up dead. But its just too much

The legit coins are falling along with scam coins right now because of market confusion and panic.
They will survive and those who bought this week will be very glad later

[Nxtblg]

While bitcoin was the first and has by far the best infrastructure I think it is a mistake to write off all altcoins.  Yes the present one coin per day is annoying, but that is what innovation looks like.

The trouble is, the current wave features marketing innovation (so to speak.) That, plus the fact that there's always a grey area between marketing, sleaze and scamming, explains the annoyance. If you're tech-driven, it really takes an Adam Smith attitude ["cold esteem"] to appreciate what shrewd marketing can do. Unfortunately, sleazy marketing grates and reverberates in a way that technical blind spots don't - so the whole altcoin scene looks like something dreamed up by Internet Marketers while the marketing phase is still ongoing.

A dark day, but some good will come from it. As with technical innovations, even the Bitcoin crew will pick up lessons from the marketing phase and apply the to better-grounded cybers - including, of course, Bitcoin.

[Nxtblg]

Too many newbies with no trading experience, following poor advice, desperate to become millionaires so they can quit their jobs and retire (jumping on every bubble hoping it's the next BTC/LTC). I have been trading penny shares for 6 years now and mid/late 2013 decided to diversify portfolio into cryptocoins (roughly 10%). This is 80% BTC/LTC, however I see promise in VTC and NXT (more of a punt hoping that they delivery on their promises).

Consolidation is inevitable, therefore holding more than 30% of your coins in anything other than BTC/LTC is reckless. Stock market trading is much easier as investors are rational and the markets follow trading patterns. Altcoin trading is like playing poker with 4 newbies and one whale with 80% of the chips (the 4 newbies are impossible to predict and the whale can bully you out of the game).

I have some experience penny-stock punting myself. One of the striking differences between alts and penny stocks is that you can help your investment in an alt by pitching in and helping the ecosystem grow. You can't do that with the stock of an established company.

Actually, investing in alts is a lot like speculating in shell companies!

[Mirkic7]

It's all quite simple, actually.

Most alt-coins are worthless.

Just because someone 'makes' a coin, makes 'fancy' name for it, and people 'mine' it, it doesn't give any real value to that coin.
It's like giving out pebbles, and saying each is worth 10US$. It's not.

And with influx of so many worthless altcoins, it's hard to find any that has any real value, or any potential real value.
For same reason, majority of altcoins will still be 'shitcoins'.. and only few will manage to be worth something.

I just hope most exchanges will dump those shitcoins, and let them die, as they should.

[solarion]

It's like giving out pebbles, and saying each is worth 10US$. It's not.

Funny you say that since dollars are just cotton with green ink on them that someone told you was worth something. Oh and if you say it's not they'll toss you in the can.

[lynn_402]

It's all quite simple, actually.

Most alt-coins are worthless.

Just because someone 'makes' a coin, makes 'fancy' name for it, and people 'mine' it, it doesn't give any real value to that coin.
It's like giving out pebbles, and saying each is worth 10US$. It's not.

And with influx of so many worthless altcoins, it's hard to find any that has any real value, or any potential real value.
For same reason, majority of altcoins will still be 'shitcoins'.. and only few will manage to be worth something.

I just hope most exchanges will dump those shitcoins, and let them die, as they should.

Everyone who buys and uses them gives them value. There's no reason that a single currency should dominate the crypto-economy.

[MysticalPotato]

I was just talking about this to someone earlier.

Like it or not, alt coins are good for the cryptosphere.
Competition breeds efficiency and innovation, even as the ruthless Darwinian logic of the market whittles down the undeserving.

[Mirkic7]

Funny you say that since dollars are just cotton with green ink on them that someone told you was worth something. Oh and if you say it's not they'll toss you in the can.

Exactly.
Dollars are just a cotton with green ink. However, you can give it value. Value that it's worth something.
And to achieve that, people need to accept it, and be willing to trade something for it.

I could just start printing some sort of currency.
Is it worth ANYTHING? No. At least not until people start using it, and give it value.

Everyone who buys and uses them gives them value. There's no reason that a single currency should dominate the crypto-economy.

And now, real question - why should people accept hundreds of alt-coins?
Is there real value to have so many alt-coins?
I agree only one or two crypto-currencies is not good, but having too many is... simply.. too many!

Not to mention ones where one or two people just take current bitcoin code, change basically only name, put fancy logo on it, and expect it to be worth anything?
Takes more than that...

As you said - coin needs value to be worth anything.

[iopq]

When satoshi create btc, he actually had an economic model in his mind

but not an environmental model  equally pow was only a temp solution as he failed to come up with a successful distribution model.

our economy has not figured out a fair wealth distribution model yet. I bet no one can solve that 2000 year old issue(or 5000 year old depending on which civilization you want to include)

Here:

http://www.planetdollar.org/
everyone with facebook gets 1100 coins

is that fair?

[alnoor1231]

Three words people: Vertcoin and Mastercoin

These coins obviously show the most promise of all the alts. Vertcoin is scrypt-N which which is asic resistant.
Not to mention it have an awesome dev team AND a great support community. Mastercoin has innovation on it`s side.
Its was the first to usethe concept of "smart property" and is built on top of the bitcoin protocol. Also, not to mention,
they have had a ridiculous amount of funding which means people are willing to dish out big bucks to get this coin off
the ground. Although there are copycats(I`m looking at you, etherium), Mastercoin has the advantage of being the first,
just like bitcoin, which as you can see, is a big difference.

-Al

[AltAccept]

Maybe something comes along and gives all these alts a reason to survive??