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Author Topic: Anyone else tired of new coins?  (Read 1898 times)
Dallas5
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June 26, 2014, 01:16:14 PM
 #1

I used to follow several coins and keep an eye on new ones.

But now I won't mind if people just stop waisting time on new coins, let the market settle and concentrate on their current favourite ones. Personally I'm just sticking to two coins, bitcoin & mintcoin. If everyone would only focus on current and older coins maybe they will have a chance to grow and increase in volume and adoption. But if people keep jumping from coin to coin for a quick pump & dump nothing great will happen.

So anyone else getting tired of new coins and/or sticking to just a few crypto's?

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RiverBoatBTC
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June 26, 2014, 01:17:39 PM
 #2

It is horrible, and it makes the community look like shit.

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June 26, 2014, 02:10:45 PM
 #3

Tired of clones, always happy to see innovative or refined new alternative currencies.

The former is noise, the latter is beneficial.

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June 26, 2014, 02:14:14 PM
 #4

Tired of clones, always happy to see innovative or refined new alternative currencies.

The former is noise, the latter is beneficial.
+1
Dallas5
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June 26, 2014, 02:56:35 PM
 #5

Tired of clones, always happy to see innovative or refined new alternative currencies.

The former is noise, the latter is beneficial.

I don't mind one or two copies since that might lead to perfection of the shared algorithm but 100's? That's just pollution. So I agree new coins with completely innovative features are more then welcome.

Just stop with all the copies people!

lynn_402
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June 26, 2014, 03:05:40 PM
 #6

These new coins are not really dilluting the market, since most of them have a market cap of less than 10000$ and trade volumes of a few tens of dollars per day: http://coinmarketcap.com/2.html

Their value reflects what they are: useless penny-stocks to gamble on, and imho that is a need which has to be filled and which doesn't affect the serious coins who are backed by a community.

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June 26, 2014, 03:07:02 PM
 #7

There are two sides of the coin about this:

- Some new (alt)coins really have unique features and offer unique possibilities. I'd like to see those new innovative coins coming too.

But, - most of the coins don't offer something unique. I don't like to see these coins coming. The altcoin market is way too big already. We should somehow separate the good ones from the bad (pump&dumps, clones, scams) ones.  By doing this I'm sure the good, stable altcoins gain more value. Most of them are undervalued nowadays but can't really gain value as much of the incoming capital goes to shitcoins.

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lynn_402
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June 26, 2014, 03:16:07 PM
 #8

There are two sides of the coin about this:

- Some new (alt)coins really have unique features and offer unique possibilities. I'd like to see those new innovative coins coming too.

But, - most of the coins don't offer something unique. I don't like to see these coins coming. The altcoin market is way too big already. We should somehow separate the good ones from the bad (pump&dumps, clones, scams) ones.  By doing this I'm sure the good, stable altcoins gain more value. Most of them are undervalued nowadays but can't really gain value as much of the incoming capital goes to shitcoins.

I don't think shitcoins take much capital away from legit coins.
Imho, those who put money on them are of the "gambler" type, who don't mind taking huge risks to get potentially high rewards. If they had not bought the pump-n-dump coins, that money would probably been gambled rather than invested in a good coin which may take many months for its value to grow.

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June 26, 2014, 03:48:10 PM
 #9

Many peoples didn't even know about altcryptos. Many others didn't even know bitcoin.
I think most of the altcoins aren't made to be coins like btc. There are only tales in the descriptions and in op when they are starting a new alt. You can read stuff like "this will be the new money of the century" and " the whole new coin of the world wich will change the worlds payment methods" and shit like that .
But this is not a problem i think. These altcoins are made to be short-term money factories. And there is 3 main users who use (and make money with) these new alt coins (with really good opportunities) - 1, Founder and Dev (due to premine,instamine etc.)  2, Miners ( who make huge amount of coins) 3, Speculants (who are trading with these coins) . knowing these the whole altcoin ( including Doge, ltc, even other shitcoins) "business" is a huge well and self formed system where these 3 types of users can make huge moneys by making this whole system complete and this is why is good for all 3 of them.
edit:
But there are many other things about alts wich you mentioned in the previous posts. Sure there are some really good coins with huge potentials, but none of them will be like BTC.
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June 26, 2014, 03:53:17 PM
 #10

It's hard to track all these shit coins going these days. Everywhere some users are bitching about how they lost their investment.
Recently some dev ran away, people lost their shit after that. That thread was a disaster.
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June 26, 2014, 04:29:03 PM
 #11

Of course most people are damned tired of these new coins that keep coming out endlessly.

But I'm also see more and more threads stating how tired people are of these new coins. And there are the same type of responses (too many coins; some innovative coins; I need a pump; etc...).
KimNam
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June 26, 2014, 04:39:54 PM
 #12

i love new coins with unique and innovative feature
that's worth to see and learn about that feature
not copycat coins, shitcoin and worthless coin who released with IPO and PREMINE or Instamine
but yes, many altcoin out there just pump-dump coin with short term purpose
altcoin world like wild west
g3rszpi
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June 26, 2014, 04:47:50 PM
 #13

i love new coins with unique and innovative feature
that's worth to see and learn about that feature
not copycat coins, shitcoin and worthless coin who released with IPO and PREMINE or Instamine
but yes, many altcoin out there just pump-dump coin with short term purpose
altcoin world like wild west
"wild west"  what a nice metaphor  Grin
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June 26, 2014, 04:58:32 PM
 #14

There was a time when I considered doing an altcoin.  I have some good ideas for technical innovations, starting with multivalent amounts (like colored coins but built into the protocol so you can't mess it up with a stupid client). 

I even developed the code for it.

But then before launch I started seriously looking at the altcoin market, and ... ghod, it's a cesspool. 

Between exchanges that accept bribes to  list coins and blatant market manipulation scams, tactics like burst mining, the outright scamming, etc....  it's the sort of thing you just cannot do honorably any more. 

So I didn't. 



gigalew
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June 26, 2014, 05:04:56 PM
 #15

I think some niche coins still are good, such as the mineral one, to gamble on starcraft with.
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June 26, 2014, 05:06:11 PM
 #16

There was a time when I considered doing an altcoin.  I have some good ideas for technical innovations, starting with multivalent amounts (like colored coins but built into the protocol so you can't mess it up with a stupid client).  

I even developed the code for it.

But then before launch I started seriously looking at the altcoin market, and ... ghod, it's a cesspool.  

Between exchanges that accept bribes to  list coins and blatant market manipulation scams, tactics like burst mining, the outright scamming, etc....  it's the sort of thing you just cannot do honorably any more.  

So I didn't.  

You should.

Don't announce it like a normal alt coin, don't push it, market it, inflate it's cost, premine it, or try to get it on exchanges. Just put the project out there and discuss + support it.

I'm having the same issue at the minute with bitmark (linking so you can see how I've approached it). I'm being public but keeping it technical or based on discussions, with much of the information needing effort on a readers part.. to go to the wiki and read, I'm finding response and feedback is small but valuable.

I feel there is, and should be, space for projects with merit, the noise should not preclude the real projects.

Publish your work, I for one promise to have a good look at it, as I see the need for DDAR solutions (decentralised digital asset registers), and believe colored coins being strapped on is not a viable solution.

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Equate
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June 26, 2014, 05:08:50 PM
 #17

These days there are not any  innovative coins , only copy paste clones everywhere . I don't care about those coins as they are dying slow death and many are already dumped deep into the ground. Only good ones will stay.
g3rszpi
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June 26, 2014, 05:12:20 PM
 #18

There was a time when I considered doing an altcoin.  I have some good ideas for technical innovations, starting with multivalent amounts (like colored coins but built into the protocol so you can't mess it up with a stupid client). 

I even developed the code for it.

But then before launch I started seriously looking at the altcoin market, and ... ghod, it's a cesspool. 

Between exchanges that accept bribes to  list coins and blatant market manipulation scams, tactics like burst mining, the outright scamming, etc....  it's the sort of thing you just cannot do honorably any more. 

So I didn't. 




That is ok. But. Here is the question. why would you make a new alt coin? And now without any offence - Don't you would make it to make money for yourself with it? If you say that you would make it to change the world you know that you are lying to yourself.
So that's why i think that the whole altcoin system and business is just a short, or maybe mid term "investment"
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June 26, 2014, 05:19:11 PM
 #19

I don't know if you saw but in few days there will be a coin launched the xxx coins with wich you can pay at porn sites - i think that's a nice idea, even if it's a shitcoin or whatever. Also there are many other coins wich can be used for different things. These are nice ideas, but with ideas like this the founder can make the people to trust more in the coin and thats all. The main thing is to make money with it. And that's not a problem . This is why we have these lovable coins ! Cheesy:D:D:D:D
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June 26, 2014, 05:22:38 PM
 #20

I don't think we have seen anything yet - there will be many more!!

The problem is trying to figure out which ones are scams and which ones are genuine.
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