Anyone else depressed by all these alts?

[Elwar]

I started investing in a few alts but then realized that with each new alt it does not really dilute Bitcoin, it dilutes all alt coins.

The key to a currency is the Network Effect, where a currency reaches critical mass. Once that happens, it competes with established currencies. Bitcoin is on its way to reaching that point. No other alt is even close.

If I had a few extra days to work on it I would create an alt generator to create a new alt every hour. What do you think would happen to the alt coins? They would all be diluted to the point where nobody would ever touch them.

Bitcoin and a million alts does nothing to Bitcoin.

[jesse11]

Bitcoins go's up altcoins go's up, Bitcoins go down altcoins go's down. Yep, it's all based on BTC 
O one more pic  Just Mine it!

  To the Max  BTC
 

[smooth]

Every alt that dies strenghtens bitcoin. Give them time.

[BBmodBB]

Bitcoins go's up altcoins go's up, Bitcoins go down altcoins go's down. Yep, it's all based on BTC 
O one more pic  Just Mine it!

  To the Max  BTC
 

^is that nuclear? LOL =)

[jesse11]

YEP 

[pandher]

Yes there is one which has a vision - https://bitcointalk.org/index.php?topic=552633.0

[jesse11]

They all have a vision pandher, if your a Miner, Mine BTC   

[bryant.coleman]

Every day a dozen or more new shitcoins are being created. At this rate, by the end of the year, we'll be having 5,000 different shitcoins.

[jesse11]

Hey bryant.coleman, I'll stick to BTC    You Too? 

[freequant]

So many add so little except confusing crap for new players in the crypto world. Do we really need the 500 scrypt coins? Litecoin was enough. Bitcoin was enough! Im just interested to see what others think and to try and find a alt that isnt just a load of crap/scam/copy! We dont need more get-rich-quick schemes!

So. Do you know a decent alt?
or do you think Bitcoin was enough?

Im kinda depressed by all this new business, overwhelmed my attempts at investing! Its so hard to find anything decent!

It really depends what you are looking for.

If by "alt" you are referring to direct Bitcoin derivatives as is usually the case, you just need to read the whitepapers of the newly released alt-coins and decide for yourself which one makes significant changes that really bring something new. Obvious answers on technical grounds are NMC, LTC, PPC and XPM, but I may be missing some more recent developments. You can also keep a tab on new projects from former innovative coin creators like Sunnyking, the chances that their next coin will be up to their reputation are good.
If on the other hand, what you are referring to by "alt" is completly new designs that really depart from Bitcoin and are disruptive in their own way, then NXT, Mastercoin, Ripple and Ethereum is what you really want to look into. These are long haul projects and may not be immediately profitable as investments in the short term, but their impact will be dramatic when/if they finally make it into the main stream. To be exact, these aren't really "alt" coins but rather second generation crypto-currencies.

So to make a long story short, from an investor's perspective:
- if you are seeking immediate profits go for any pump & dump provided that it has enough hype, mine it first, and dump it within the first minutes where it becomes exchange traded
- if you are seeking short term profits identify innovative Bitcoin clones from respectable developers and wait for their value to increase as they are making it to leading exchanges and start being listed as possible contenders by technology and finance magazines.
- if you are seeking long term profits get involved with second generation currencies. This requires a leap of faith and you will probably not get any return on investment before years, but remember that this was the also the case for early bitcoiners.

[BBmodBB]

YEP 

~flux capacitor n chit! =)

[jesse11]

Got to have the right PSU 


YEAH!

[sidhujag]

Merge mined coins with utility may survive

[jesse11]

Merge mined coins with utility may survive

OK, Cool  is it like this?

LOL 

[bryant.coleman]

Hey bryant.coleman, I'll stick to BTC    You Too? 

I have some LTCs and NMCs with me. But 98% of my crypto assets are in BTC.

[softron]

It used to be easy to decide which alt to invest in now it just too much. Just follow a coin with active devs  

[jesse11]

Hey bryant.coleman, I'll stick to BTC    You Too? 

I have some LTCs and NMCs with me. But 98% of my crypto assets are in BTC.

Yeah, Namecoins Rock 

[Lethn]

Anyone who truly believes in the free market, believes in currency competition would have no problem with altcoins, I'm not surprised there are this many people going nuts and making shit considering how long we've been under the thumb of central banks. I have the same opinion as Ron Paul on this, so long as there's no fraud involved, why do we care? The bad coins will eventually be weeded out and some outright copies have already died off so I don't see what the big deal is.

If Bitcoin hadn't been made open source, it would have been an abysmal failure.

[jesse11]

Anyone who truly believes in the free market, believes in currency competition would have no problem with altcoins, I'm not surprised there are this many people going nuts and making shit considering how long we've been under the thumb of central banks. I have the same opinion as Ron Paul on this, so long as there's no fraud involved, why do we care? The bad coins will eventually be weeded out and some outright copies have already died off so I don't see what the big deal is.

If Bitcoin hadn't been made open source, it would have been an abysmal failure.

Very True Lethn, Ya got to love BTC  YEAH!

[BBmodBB]

Anyone who truly believes in the free market, believes in currency competition would have no problem with altcoins, I'm not surprised there are this many people going nuts and making shit considering how long we've been under the thumb of central banks. I have the same opinion as Ron Paul on this, so long as there's no fraud involved, why do we care? The bad coins will eventually be weeded out and some outright copies have already died off so I don't see what the big deal is.

If Bitcoin hadn't been made open source, it would have been an abysmal failure.

RPC woot woot!