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GambitBTC
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April 02, 2014, 11:46:07 PM |
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You just gotta know how to properly manipulate the markets, the alt coin game is not one for the weak of heart.
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roslinpl
Legendary
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Activity: 2212
Merit: 1199
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April 03, 2014, 12:09:12 AM |
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You just gotta know how to properly manipulate the markets, the alt coin game is not one for the weak of heart.
Well yes people might get stress when they see pump and dump. |
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kthejung
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April 03, 2014, 12:24:34 AM |
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I think alts actually help the development of bitcoin and increase bitcoin's value. Bitcoins do not appeal to everyone but will always serve as the ultimate measure of value for all cryptocurrencies. Bitcoin is to diamond as alts are to sapphire, rubies, and etc. Bitcoin is to gold as alts are to silver, copper, and etc.
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tins
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April 03, 2014, 12:37:22 AM |
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Bitcoin is to diamond as alts are to sapphire, rubies, and etc. Bitcoin is to gold as alts are to silver, copper, and etc.
Need 3 more.  |
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Mikerogers
Newbie
Offline
Activity: 51
Merit: 0
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April 03, 2014, 12:39:19 AM |
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Paypal or some big company needs to come out with their own version of an alt. Think about it, they could back it up and make bank off it while making transactions easy for consumers. http://www.panture.com/virtual-currencies-can-work/Virtual currencies are the future the only prob is that BTC is frowned upon by the world. The world will eventually use more virtual currencies though as time goes on and things get computerized. Dont fight the future! |
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LAMarcellus
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April 03, 2014, 04:50:55 AM |
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Some alt-coins are indeed get-rich-quick schemes. But they have very little hash power which I believe means their coin is extremely insecure and exposed to 51% style attacks.
Other coins are in my opinion novel and worth looking into, Prime-coin being my favorite example.
In my opinion any coin which claims to be "asic resistant" is completely misguided.
At this point I'm happy to hold BTC and I am scanning the horizon for "the next protocol layer".
For example Reggie Middletons Ultracoin ( not to be confused with the crypto-coin also called Ultracoin) which will allow for trustless contracts etc.
I personally do not worry or even think that BTC will be replaced by a superior coin in my lifetime. (born in the 80's)
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The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion. – Albert Camus
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Beliathon
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April 03, 2014, 04:52:57 AM |
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Unlike most sheep-ass-fools, I went into Bitcoin for ideological reasons and understanding of the basics of the technology. I went in before China did. I have no regrets.
I am in profits as long as Bitcoin is $100 + per coin. But it's not about the profits. It's about the banksters and the nation-states, and how much I loathe them.
I would accept homelessness before I would reinvest in evil-empire nation-state monopoly money.
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Chemistry1988
Legendary
Offline
Activity: 1120
Merit: 1000
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April 03, 2014, 05:01:54 AM |
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IMHO, about 1% of altcoins did / do have a purpose (GPU resistant hashing algo, PoS mechanism, etc.)
The rest 99% of altcoins were created just as a clone of existing coins.
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Bit_Happy
Legendary
Offline
Activity: 2114
Merit: 1040
A Great Time to Start Something!
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April 03, 2014, 05:18:22 AM |
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I doubt you would find a single person who thinks we need 20 more alt coins. They are not "depressing" though. Cheer up, and your whole world will seem better.  |
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BittBurger
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April 03, 2014, 05:20:02 AM |
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Anyone else depressed by all these alts? Yes. |
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BittBurger
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April 03, 2014, 05:21:37 AM |
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Bitcoin is technology, and technology always evolves. No way to avoid new alts, this is progress.
No. This is a mass quantity of unoriginal copycats trying to get rich quick, by coming up with horrible, stupid gimmicks in hopes that stupid people pour money into it. That isn't progress. Its a bunch of scurrying cockroaches. -B- |
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jesse11
Sr. Member
Offline
Activity: 333
Merit: 250
Ants Rock
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April 03, 2014, 05:24:44 AM |
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I doubt you would find a single person who thinks we need 20 more alt coins. They are not "depressing" though. Cheer up, and your whole world will seem better. I'll Drink to that  |
Mining with: BE's,BE Cubes, K16's, AntMiners U1's and AntMiners S1's
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Bit_Happy
Legendary
Offline
Activity: 2114
Merit: 1040
A Great Time to Start Something!
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April 03, 2014, 05:27:57 AM |
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I doubt you would find a single person who thinks we need 20 more alt coins. They are not "depressing" though. Cheer up, and your whole world will seem better. I'll Drink to that I haven't been drinking at all for several weeks, but I'm getting a bit thirsty. We need more fun around here, Trollbox live: No way anyone would sell at these prices unless they've been kicked in the head by a horse (user: dcmessarge) |
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Zimbabwecoin
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April 03, 2014, 05:31:50 AM |
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There are way too many scam coins. I can see the allure in people creating more of them. Hell I created a couple for fun - but, not to scam people. I think we would be better off with just Bitcoin. Ordinarily I would say competition is good. But, when the "competition" has so many scams, it is just bad, in my opinion.
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Planning to launch Zimbabwecoin in the future. Focused on building a community around it now.
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jesse11
Sr. Member
Offline
Activity: 333
Merit: 250
Ants Rock
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April 03, 2014, 05:33:22 AM |
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I doubt you would find a single person who thinks we need 20 more alt coins. They are not "depressing" though. Cheer up, and your whole world will seem better. I'll Drink to that I haven't been drinking at all for several weeks, but I'm getting a bit thirsty. We need more fun around here, Trollbox live: No way anyone would sell at these prices unless they've been kicked in the head by a horse (user: dcmessarge)  |
Mining with: BE's,BE Cubes, K16's, AntMiners U1's and AntMiners S1's
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BittBurger
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April 03, 2014, 05:35:23 AM |
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There are way too many scam coins. I can see the allure in people creating more of them. Hell I created a couple for fun - but, not to scam people. I think we would be better off with just Bitcoin. Ordinarily I would say competition is good. But, when the "competition" has so many scams, it is just bad, in my opinion.
And then there's coins like the one you're making. Zimbabwecoin. We have Bitcoin. We don't need a "Zimbabwe Coin". The fact that you're making a usless copycat that has zero chance of actually being used in commerce, makes you one of the scurrying cockroaches I mentioned above. You're trying to get yourself rich. Nothing more. By being an unoriginal copycat, both of Bitcoin, and the gimmick from Auroracoin. If you really gave a shit about Zimbabwe, you would invest your efforts in getting Bitcoin propagated there. Sorry to be blunt. -B- |
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jesse11
Sr. Member
Offline
Activity: 333
Merit: 250
Ants Rock
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April 03, 2014, 05:38:42 AM |
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It's like this  Got it! LOL |
Mining with: BE's,BE Cubes, K16's, AntMiners U1's and AntMiners S1's
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BBmodBB
Full Member
Offline
Activity: 154
Merit: 100
BTC = FREEDOM IS OUR ONLY HOPE!
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April 03, 2014, 05:46:51 AM |
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BTCS/BitCoin scrypt : : fwiw : : i've been loading the boat!*cough-wink* https://www.mintpal.com/market/BTCS/BTC ^RADAR THIS GEMMMMM |
*BTCitcoin Wales Club*-- message me for details!--///\\\TELEKINETICS///\\can manipulate objects with their mind. Telekinesis is one of the basis of many superpowers that are based on "controlling/manipulating", it may evolve to the point that a Telekinetic can control anything at a subatomic level.
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jesse11
Sr. Member
Offline
Activity: 333
Merit: 250
Ants Rock
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April 03, 2014, 05:49:01 AM |
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Your GEM lol  |
Mining with: BE's,BE Cubes, K16's, AntMiners U1's and AntMiners S1's
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Operatr
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April 03, 2014, 05:53:40 AM |
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I consider the alts for the most part "experimental" coins, as some of their features and fixes make their way into Bitcoin itself.
Beyond simply existing however, most of them are just speculative playthings and not much more. In a sense, they kind of are like the rubies and sapphires of the crypto world. They hold value, but only speculatively and not because they actually offer something new or needed usually.
My theory is that eventually most of the alts will die off eventually because of the above reason. Without a real purpose or true innovation to offer there is simply no need for them. I believe over time, each mining algo will have a single champion coin.
Bitcoin/Litecoin more or less already fill the role of wealth transmission, we dont need any more of those. I think in the future, things will look like this:
Bitcoin/Litecoin/? = Gold Standard, universal currency. These coins are only instruments of wealth transmission as designed. Higher functions are limited for things like Colored Coins.
Mastercoin/Ethereum/Datacoin = Services coins, valuated by Gold Standard coins. Decentralized exchanges, insurance contracts, energy, you name it.
Nextcoin/PoS coins = Mobile "spending coin". These are not mined, so they are ideal for mobile transaction networks with fast transaction times. I can see these being useful for everyday transactions like buying milk at a grocery store.
This is the crypto-economy we are all building together. I have no idea if this is how it will be of course, but it will be exciting to see it all unfold.
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