Is the alternate cryptocurrencies market being monopolized?

[MyFarm]

Minerals may be the fairest distribution I have seen and I have been in Crypto a LONG time.

I am perfectly happy with it staying on C-Cex and I suspect that Poloniex will pick it up before too long as their owner is a very ethical person.

[raidan]

There is no doubt poolowners are out of control....

All a pool owner has to do or be involved in is running a pool.

Shameless comments regarding a startup coin has nothing to do with doing their job, or is their job not just being a pool operator?

Kill CoinCrime , MIN FTW

[uray]

"I am here for the goodness of Crypto. "

  lmao!

LMAO !

its came from dedicated poops owner !

[todoornot]

Really  good distribution , pool owners are scared.    I believe there'll be followers to Minatals.

[StephenJH]

"I am here for the goodness of Crypto. "

  lmao!

LMAO !

its came from dedicated poops owner !

I don't know who he is, but this may apply http://en.wikipedia.org/wiki/Messiah_complex

[LiteMine]

At 2000+ satoshi, small miners made good money off of this new distribution concept - which coin will try it next? 

[tdenchev]

Hey, could you edit the currency name as it is not MineralsCoin, because we do not want more coins, we want more minerals  So Minerals is just Minerals and that's what we want for people to remember.

[Zer0Sum]

So as i understand it,, crypto has at its heart an underlying ethic of wanting to decentralise the banking systems of the world and therefore distribute power more fairly and evenly.

No, Bitcoin... mimicked by the Alt ecosystem has CO-OPTED the above ethic...
In order to run a highly organized RACKET that methodically fleeces Tech-Mooks with pyramid schemes.

ANYTHING that threatens Pyramid Coin assembly line... gets destroyed without prejudice.

The Alt Ecosystem will never change or improve (it's near perfect for the job)...
But it will be replaced by Silicon Valley Venture Capital and Wall Street firms...
The Pros will just take over when this thing grows another order of magnitude.

BCT probably has about 2 years left... make your EZ money now...
Any talented Zero Sum Game player should be able to figure out this Game.

[baseke]

Soo those 150 pool owners want to become like american top richest families and control everything in cryptoworld but russian c-cex against them.lol.

[Starscream]

Soo those 150 pool owners want to become like american top richest families and control everything in cryptoworld but russian c-cex against them.lol.

xD

[AltCoinSpeculation]

Good post, I've been wondering about some of these issues for sometime,

Do you think some of the Exchanges also have massive Mining Farms?

I wonder where all the Mining Hash power comes from, tonnes of people have 100's of MH's and some GH's of mining power, its incredible, the small miners are totally out of the game these days...

[AltCoinSpeculation]

Here i blogged a post about similar issues with new coins and the speculative frenzy;

New Coins, New Wealth, Any Future?:
http://altcoinspeculation.com/new-coins-new-wealth-any-future/

[Starscream]

Here i blogged a post about similar issues with new coins and the speculative frenzy;

New Coins, New Wealth, Any Future?:
http://altcoinspeculation.com/new-coins-new-wealth-any-future/

Good read, thanks! Will add to my OP.

And for your question, I don't think exchanges got mining farms, but I am pretty sure they are entangled with the big pools that host all those coins so that pool OPs can dump the coin ASAP.
Obviously, the exchanges get more than just the fee from normal exchanges: they get extra $ on the side to add those coins quickly.

I'll be honest, I'm gonna attack Bittrex directly. They are just adding coins that pool ops benefit from.

[AltCoinSpeculation]

Thanks Starscream, It's certainly interesting,
and more reason to avoid new speculative coins, and focus on potentially longterm (or at least medium term) decent ones, with good devs and a growing community.

Anyhow you inspired a new post so thanks for that to:
Are New Altcoins Being Monopolised?:
http://altcoinspeculation.com/are-new-altcoins-being-monopolised/

[ASICrefugee]

+1, nice article

[Starscream]

Thanks Starscream, It's certainly interesting,
and more reason to avoid new speculative coins, and focus on potentially longterm (or at least medium term) decent ones, with good devs and a growing community.

Anyhow you inspired a new post so thanks for that to:
Are New Altcoins Being Monopolised?:
http://altcoinspeculation.com/are-new-altcoins-being-monopolised/

My pleasure!
I've also added a link to your 2nd article in my OP.

[animalroam]

I haven't really thought that pools and exchanges have been monopolizing coins up until this point.  I understand that pools are losing profits, but they cannot control the altcoin community.  All along, I know that the big whales control the market, and I think they are an even larger threat to the altcoins community.  If the altcoin community wants to move on, everyone must re-evaluate the situation.  I think that Minerals really has taken a step towards a more distributed and fair coin, but I would like to see other altcoins that focus on preventing centralization.

[Amph]

they are clearly mad because they did not obtain any large amount via their big giant scam farm

[Soul_eater_123]

I don't think it necessarily means the pools are colluding to protect their profits.  A lot of this may stem from a fundamental misunderstanding of the purpose of Minerals and perhaps a knee-jerk response based on partial information which got out of hand.  This is understandable in light of the recent catalogue of crypto scam coins.  A lot of people had questions about the Minerals formula.  The issue is not just about fair mining but about the centralisation of mining that is encouraged by the way it was launched.  This makes it easier for scammers to take advantage of people.  That doesn't mean it is is or was a scam though.  I think a lot of people are still undecided for now.  So far the developer seems above board and legit.  I honestly think that exchanges (and earlier pools) could foresee that this would be a big hit and if it turned out to be a scam the backlash and fallout against them would immense.  They therefore took the stance of assuming it was a scam rather than take the risk.  They were not protecting profits by not participating, if anything they were losing out on easy money.  However the fear of being tricked over-ruled their logic in this regard.  Again I don't think the developer did anything wrong and I don't think the concerns of exchanges or pools were wrong either.  The crypto world has become a lot more cynical and paranoid and everyone is afraid of being scammed.  It is sad that Minerals got caught up in this but I believe it will still succeed. It would be a lot better for the community if people just try to see things from both sides.  Most exchanges and pools are not run by mega-bucked gazillionaires who don't care about the community.

[solid12345]

Personally I'm tired of multipools, I'm tired of them spamming every coin thread multiple times, I'm tired of them raping and dumping coins and preventing them from going to the moon, I'm tired of every miner whining if he loses a coin here and there when miners are generally making money hand over fist, I'm tired of it all! It's nice to see a coin where the little guy miner and trader could possibly win for a change.