Hiya guys, I don't post alot here on alt's, I am involved and have been since LTC, I am more of an observer than a FUD spreader.

This is going to sound like a rant, But please read through everything, I really would like to hear another perspective!

People who reply with short comments like "your so wrong" without coming up with a respectable comment of opposition are not worth talking to IMO.

I started on LTC so I will start there, I only had a GPU or two on LTC when it came out, I mined a few coins, I cashed out a bit to help me offset the setup and power costs, It was failry easy to RIO back then, As more and more people jumped on this coin, My earnings went down.

Then we had the launch of a few more alt's, I jumped on those early, Mined a ton, Price raised, People jumped on, I sold out, ROI sunk like a stone.

You get the picture, I know we wont see the likes of them days again, But here is my point, All the time while this was going on, I was not mainly involved in BTC, Sure I was still mining, But half of my gear was in Alts. If I was to put in 100% to BTC I would be rich now.

I am not "dissi'n" Alts, I believe they have a place, I do still get involved in two coins, I will not name them here as I will not plug anyone.

People! Head my warning, 90% of new coins are Devs who want to get rich at launch!, It's a new wave of scamming.

Thats quite a powerful accusation yes? IMO no, And alot of people I know think the same, Any coin that needs a large IPO is not worth investing, A alt coin becomes popular and powerful if it is used, nothing else, Please stop sending Dev's money to start, The whole idea of a digital commodity is to spread the wealth, Do you think giving money to one person will make you rich!!

Personally we should just have a few alt's with different capabilities for different situations, There are now tones of crap coins, Every new coin takes a slice out of the pie as it draws more suckers in.

A few more points, Even though I mine LTC, I feel it's life has expired, Only the wave of new ASIC equipment has kept this coin alive, My reason? Look at the YTD LTC-USD It has constantly fallen in price all year! I believe in trends, If you can get in and out quick and make a few $$£ do it, Otherwise leave this one alone, Also, A fool compares any alts to BTC and says it's worth it, Anyone who compares one moving target and can say with certainty that it is justified alongside another moving target is just plain nuts, The ONLY justifiable argument I can see for this, If you accept that it's not worth it now, But believe in exchanging to BTC and holding for that to go up to cover the loss.

I know this is a little tl/dr But just a quick note on hardware, Well, we have come along way! I used 1KWh just to get over 1Mhs 
Heres the big problem, It's still too geekish, If any developers want a good idea, I have two for free, To show we need to Take Mr government's hand out of our pocket, 1) Make a stand alone unit that does not need a host, They are coming out, But we need more work on this, As it is only the big $1000's units, What about the little guy who does not even know about CGminer? 2) we need a RELIABLE cloud source, The two big names at the moment are not transparent, They have no proof of anything, I cant invest in that, The others are all just scams, Even though PBmining for BTC is not transparent, It is still popular as there is not much competition.

Really what are your thoughts? If I feel you are posting crap to build your post count for adds, I will delete you.

Maybe I got lucky because I am Dutch and went straight for my countries coin, but I see a lot of stories where people put money into dying coins and scams and that is only can be bad for all cryptos in general. I do agree with the OP.

Should you guys ever come to the Netherlands Guldencoin is adding merchants almost daily now.

https://guldencoin.com/pay-here

alts with..


any premine even 0.01%

any instamine (ninja launch, or instamine settings)

zero post devs


All = potential scams, which is what most are.


There are a few dev teams that just keep launching coins, pumping and dumping their premines and instamines and starting new coins. This will kill nearly all alts eventually.

This board is the main jumping point for these scammers to get a foot hold. The alt section here has now practically killed any chance of people taking alt coins seriously.

Take away these dev teams premines and instamine pots of coins and you will see a huge reduction in the amount of coins released. That little 1% premine they keep dumping is all they need to keep pumping this crap out daily. Let's reduce it to 0% and see if they're so motivated.



If devs premine AT ALL = all coins should be held by escrow and released to the devs over time for continued suppport and development.

Instamine settings switched off fully.


Some alts have a future but many will not.

There is room for more than just BTC.

Most alts are shit. Some devs have legitimate good intentions about what they want to achieve with their projects, but most of them are there exclusively to scam and move BTC to their pockets. This is a fact and we see it daily, just look around the alt section, its a total wild wild west.

I disagree.  99% would be closer to the truth.  1 out of 100 alts.  Or maybe 5 out of a 1000 alts.  So 99 or 99.5% are devs who want to get rich.

I like to think of alt coins as the .com bubble. There were companies everywhere preaching innovation and products that didn't exist. Investors threw money at them hoping they could catch a winner. Alt coins are the same idea.


If you look at those .com companies some made it big. Most failed and were forgotten by everyone except the investors. I feel the same outcome will occur with Alt coins.

We have a full fledged alt coin war going on right now. This war has pitted all coins against each other and only a few will survive. For me it can't happen soon enough.

I have found the coins I feel are winners and have spread my investment around. None have a pre-mine or ninja launch. None are PoS, all PoW.

We want unregulated and that's what we got. We have to push the BS coin aside and look for the gems.

The part that kills me the most is that we're trying to go mainstream. Now think of yourself as a new investor. You finally figure out how to set up a wallet and purchase some BTC. What are your chances you're going to make money off of an Alt? How many will get scammed? How many will never return? We could have had these investors as crypto enthusiasts and they could've been a great resource to bring crypto mainstream. Rather than that we have someone who now hates Crypto and makes sure to tell 10 of his friends about his negative experience.


I'm not naive enough to think we can avoid this but all the infighting between coins, FUD and general misinformation we all spend too much time defending is taking our resources away from building our community (as crypto in general) and innovation. Once the alt coin war is over, we should be able to refocus on the survivors. New coins will hopefully only survive if they bring something new/better to the table. The Alt coin crypto market will grow, become harder to manipulate, and we can welcome new blood.

Alts are outcome of bitcoin and its success.They couldn't be unseen either while some of the many had many their way till the up and stood out reaching a price level

You can't know then that Bitcoin was instamined for months by Satoshi. He was 75% of the network hash at times.

+1

like all the never seen hero member and legendary member who come here lately playin the new pimps LOL

~CfA~

  I agree, I don't understand why I don't post more often to get such smart comments back  I will have to post more often, As someone who does not post often in this section, on this forum, obviously has nothing important to bring.