THE ALT CURRENCIES BUBBLE IS BURSTING...

[lopalcar]

If i can't mine the coin on launch i won't touch it .

Can you explain me the difference between mining and buy the coins for the user?
For my understanding:

Mining: 90% of the supply goes to big miners "maybe 200 persons in this forums hunting alts?", specially in the short mining period coins, while small miners only have the false ilusion of earning some coins "I suppose now every coin have huge supply for make this little miners more happy thinking they have a lot..."

IPO: At least you pay the developer of the idea, work->reward, the problems is that there are to many scamers which never give what they promises, they simply launch a clone and talk about features that never come.

So the difference is that you give the money to gpu companys "or asics" or you give it to the developer, I personally prefear to give money to a developer while he works.

I'm done with stupid distribution complains and fairness about distribution, anything in this fucking world is fair, stop criying about it. The rich people will get the most of every new thing which could become valuable, if not, tell me how is the distribution of any coin, bitcoin, litecoin, ethereum, bitshares, nxt... there are some very lucky guys in this coins ofcourse, for example, some early protoshare miners, early bitcoin and litecoin miners and the nxt initial investors, but now that this crypto world is a bit more known, every new opportunity is rapidly taken over by already rich guys. If you complain about IPOs, you should also complain about mining, you have the same opportunity now to get the same fraction of coins buying into IPO launched coins than buying into mineable coins or investing in hardware in order to get some. If you prefear to give your money to the gpu companys and energy companys good for you, but assume that your only problem is that you are a fucking envious and your pride impedes you to see this and give your money to few other early adopters which aren't you "but have been stayed in your same situation"
You say many true things and many shit sometimes too, it's fine you try to save people from scams which doesn't deliver anything, but there are other IPOs which worked fine.
Conclusion: SEND TO FUCK THE WHOLE MINING THING refearing to distribution, if you want to talk about security fine, but with facts.

[1714657061]

1714657061

[1714657061]

1714657061

[1714657061]

1714657061

[purplejaguar]

Barabbas is several months late on this. 

If anything...this post might be an indicator that the bottom of the alt decline is near. We shall see.

[rocoro]

More like the fud parade is bursting,  nobody is believing this stuff anymore.

[CLains]

Many of the 2.0 projects have collected a lot of money, and they are looking to promote themselves heavily in the near future. Counterparty has GEMS and Byrne, BitShares has VOTE/Peertracks and a huge marketing push aimed at mainstream, NXTTY has a mobile app with a referral program, Ethereum has over 10 million dollars that they will use to promote themselves and educate a fleet of coders, ribbit/bitBay/openbaazar are trying to become the next ebay/amazon, list goes on and on..

The next crypto bubble will rise to the refrain of "Bitcoin 2.0"

[onemorebtc]

Many of the 2.0 projects have collected a lot of money, and they are looking to promote themselves heavily in the near future. Counterpart has GEMS and Byrne, BitShares has VOTE/Peertracks and a huge marketing push aimed at mainstream, Ethereum has over 10 million dollars that they will use to promote themselves and educate a fleet of coders, ... The next crypto bubble with rise to the refrain of "Bitcoin 2.0"

i was always wondering why should a dev who has collected millions actually release a product?
they dont need to work any more...

[Come-In-Behind]

Don't you guys love these types of threads. I especially loved the threads about the "Bitcoin Ponzi falling" or "Bitcoin dying", and etc, that were all made years ago.

[CLains]

Many of the 2.0 projects have collected a lot of money, and they are looking to promote themselves heavily in the near future. Counterpart has GEMS and Byrne, BitShares has VOTE/Peertracks and a huge marketing push aimed at mainstream, Ethereum has over 10 million dollars that they will use to promote themselves and educate a fleet of coders, ... The next crypto bubble with rise to the refrain of "Bitcoin 2.0"

i was always wondering why should a dev who has collected millions actually release a product?
they dont need to work any more...

Most people are honest, genuinely want to contribute and value their reputation. This space attracts many scammers because people are greedy and rush to invest. But this space also attracts many idealistic, extremely intelligent people who honestly just want to change the world for the better. A few million dollars is great and motivates everyone, but being the next Steve Jobs or Sergey Brin is even greater and motivates the best among us.

[onemorebtc]

Most people are honest, genuinely want to contribute and value their reputation. This space attracts many scammers because people are greedy and rush to invest. But this space also attracts many idealistic, extremely intelligent people who honestly just want to change the world for the better. Money is great and motivates everyone, but being the next Steve Jobs or Sergey Brin is even greater and motivates the best among us.

you are right
but i think any dev who wants to be honest would at least(!) use escrow.

the only way to go if you have ideals is when the dev has to mine his coins himself; i'd accept a few blocks of a head start but anything else just makes me feel he doesnt believe his own project will be a success.

[funkenstein]

Alts are still just arriving on the scene.  Yeah it is easy to be distracted with all the extras lying around but there is more exciting experimentation on the way.  Get ready for action the show is just starting.  

[smalltimer]

man, you're pretty late.
The shit is worthless already. Can't be worse now.

[Diabolic]

My friend Armis told me about alt coins and I'm looking for a few coins to buy. I am setting up for mining bitcoin also. Since you are saying alt coins are bursting, what coins do you recommend for my duckets?

You are obviously interested in a (very expensive) hobby since mining is not profitable at all. So, as a hobby, you can pick and choose on which coin you want to be scammed or otherwise get your money. If you, on the other hand, are a serious investor, first just buy Bitcoin. Keep them. Sell them when you have 15% profit. Then wait for it to come down. Rinse and repeat. Or, buying at current prices, just put them away and don't even think about it for a couple of years or when it is front page in the Wall Street Journal -at which time it will be the signal to sell-. Dont even think in investing in any altcoin... at least until this burst has concluded. Then there will be a few surviving projects perhaps worth of investing in them at 10% their current valuations. Not before. And even them, be very cautious, and whenever you get a 30-50% profit opportunity, dump it, because no matter what the project is, you are being played by the devs/P&D operatos and simply you just cannot win in the long run.

Ok thanks, ill look into a few other coins mentioned here as well. Appreciate your time,

[DieJohnny]

I feel like in five years people will look back and wonder how in the hell there ended up being only two actually used Cryptocurrencies.

Bitcoin and Doge......

I really think Doge is the crypto with nine lives, it will never go away and will eventually win.

[ThomasVeil]

The answer is as simple as this: There's no BTC available. No liquid money in Alts.

So Ethereum collected what.... 13.000 BTC? (edit: 23,804 BTC)
SuperNet was uh... 5.000 BTC?
And even that shady BlockNet thing got 2000 BTC last time Iv'e read.

If that's an illiquid market, then I want to see the liquid one.

Everyone is fully invested in bags that hold losses from 70-90% and higher and expect rebounds to cut those losses somehow.

Are you possibly speaking just about yourself?
NXT assets did great - I have 500% from the last half year on average on them. Check out their mining assets - some still do 10% returns on a weekly basis!
Maybe you shouldn't have limited your view to strange new coin IPOs.

Just distance yourself from your current involvement and ask your common sense: Is DOGE worth $21 million? why? what can you do with DOGE?

Think about it this way: Microsoft just recently bought Minecraft for $2.5 BILLION! Why? Because of the active community - it is next to impossible to build this artificially. But it's worth ... well... billions!
Now you can about make an comparison to Doge - and if $20M is overvalued.

Else I can only talk about NXT - but if you look at the ecosystem around it... the services, the community and all the active devs... it is insane that it's valued only $20M. Any 1 year old startup business with those achievements would trade at 10 times that at bare minimum.

[Spoetnik]

More like the fud parade is bursting,  nobody is believing this stuff anymore.

The difference is the crowd stopped arguing with me and now did a 180 and agree with me.. the new trend LOL

I recall most of you out there hanging around saying i was wrong making poor excuses for bad behavior.
and now your all right along with me.. except for the IPO coin boys, they are die hard bag holders who will defend their shit until they can cash out of course.

I find it pretty damn funny i was by myself for almost 2 whole years every single day as i battled ALL OF YOU here
and the bloody abuses and trolling i took from 99% of you all to come worming up beside me pretending you were with me all along is priceless. lol

i can tell you one thing i will never ever forget who was there all along, and that is not very many of you
kelsey for example was one of the sane and reasonable level headed persons here ALL ALONG and never jumped around supporting gimmicks and trends..
and worse defending them  *poorly

the majority of you all here ARE THE CAUSE of the problem itself and now you want to hang around jumping on the shitcoins are bad band wagon R O F L .  

You shit your bed guys now sleep in it.. i had planned to stick around to say, I told you say 24/7 every day and enjoy it
but you know what ? screw it.. enjoy your mess  LOL

This scene is like a fresh new 18 year old Porn star that is 24 now and looks like she's 34 and has to have yet another meat-curtains cosmetic reduction surgery LOL

[TaunSew]

I think people rationalize ICO as profitable under the notion: "he who is in first reaps the most" but of course it almost never works that way.


 Most ICO / IPO coins fall below their initial prices and never recover.   Crypti did close to $450,000 or 750 BTC (when BTC was around $600 in July) and currently it is pretty much a dead coin.   We saw this repeat, more recently, with Craigscoin too.


I think NXT popularized the IPO but the difference was NXT was giving out 5% of the total coin for a measly 1.5 BTC (at the time this was like $130?).  If you had 5% of any coin then you're bound to make money unless the coin itself becomes worthless but we know in cryptos that even turd coins often get six figure capitalizations.

[Daedelus]

I think NXT popularized the IPO but the difference was NXT was giving out 5% of the total coin for a measly 1.5 BTC (at the time this was like $130?).

Come on UP, you know it was capped at 1 BTC and BCNext only asked for "a few satoshis" to determine the distribution.


And Spoetnik, you're account is only 17 months old? Which one of your account s have you been using for 2 years?  



It is Nxt's 1st birthday today too, no happy messages to give?  

[triplef]

I think NXT popularized the IPO but the difference was NXT was giving out 5% of the total coin for a measly 1.5 BTC (at the time this was like $130?).

Come on UP, you know it was capped at 1 BTC and BCNext only asked for "a few satoshis" to determine the distribution.


And Spoetnik, you're account is only 17 months old? Which one of your account s have you been using for 2 years?  



It is Nxt's 1st birthday today too, no happy messages to give?  

also altcons where not even public pnd's 2 years ago.. all started in march....after btc fall and alts boomed..

back in march you had a few alt's vtc, etc that where solid, then came the alts, and the frenesy and the cash... people bought asics and fucked scrypt, people got greedy and made stupid services like nh/wh/and rig renting,

alts are a real scam for con artists.., its anonymous then can copy/paste and repeat and never get cought.

everything was tried... remember H2o, cleanwater, water this , water that ?

who wants to call the so called fundations to see how many satoshis if ANY was sent ? 0 , none, niet, nada....

its all about getting hopes on a project to gather the most cash you can.

if you look at super somthing, its a coin by the mt gox guys.. and you all financed it... again and again

someone said " If you repeat an act and expect different results, you must be crazy " well, not that wording but you get the drift.

so 2 years ago, all was fine, all troubles started when stupid idiots paid 50k pre paid to guys that actually didnt have any asic done, and in turn paid chineese manuf to make them.

Look at the KNCDUMPS etc 10 mill a day.... think thats not hurting BTC market ? they have thousands of rigs mining and dumping, and YOU PAID FOR IT, not them.....

Western Greed was abused by Eastern Math

[solid12345]

If i can't mine the coin on launch i won't touch it .

Miners are one of the biggest reasons for the endles scams in 2014. How many times have we heard that the reason for all these weekly candy scam coins is "miners need to pay off their equipment". Come on, how many months of peddling dogecoindarkdark crap coins does it take to pay off a 200 dollar video card? It's ridiculous and is just plain raw greed, the biggest mistake I made in January was deciding to pool my initial investment money in "investing" in alt coins versus just buying some mining hardware where I could at least break even by looking at coinwarz.com for the most profitable shitcoin of the day to mine.

That being said though I still have faith a few alts will survive next year, it's only been a year and nothing blows up overnight. If anything all these endless scams will drive people towards putting their money in the good coins and just waiting like good children. If you can't sit on your hands for 6 months to make a profit, you need to get out of any investment game.

[Come-In-Behind]

If i can't mine the coin on launch i won't touch it .

Miners are one of the biggest reasons for the endles scams in 2014. How many times have we heard that the reason for all these weekly candy scam coins is "miners need to pay off their equipment". Come on, how many months of peddling dogecoindarkdark crap coins does it take to pay off a 200 dollar video card? It's ridiculous and is just plain raw greed, the biggest mistake I made in January was deciding to pool my initial investment money in "investing" in alt coins versus just buying some mining hardware where I could at least break even by looking at coinwarz.com for the most profitable shitcoin of the day to mine.

That being said though I still have faith a few alts will survive next year, it's only been a year and nothing blows up overnight. If anything all these endless scams will drive people towards putting their money in the good coins and just waiting like good children. If you can't sit on your hands for 6 months to make a profit, you need to get out of any investment game.

There's no reason talking anything of sense with Spoetnik...

And correct! Mining coins make up the large majority of scams on here.

[altcoinUK]

Thanks Barabbas for this thread! It's eye opening as always :-))) and hopefully the naive, wannabe be rich new crypto investors will start their journey into this market (and inevitable disappointments) by reading your fists post.

As for the prospects of digital currencies general, there are a very few concepts that due to their use case will survive. For example, Ethereum must have a place in technology world because it provide users with solutions to real business problems. Ethereum's smart contracts are useful in solving many real life business problems from autonomous companies to decentralize crowd funding -  in contrasts with the +500 BTC/LTC clone that are completely useless.
There are a few other interesting experiments that could be successful. Lately I am very interested in these projects

https://bitcointalk.org/index.php?topic=864895.0

https://bitcointalk.org/index.php?topic=854280.0

This type of ideas that solves a real business problem in my opinion could be survivals. There is no chance any altcoins could compete with Bitcoin, and I expect that the surviving alt currencies will be specializing to areas like AI, IoT or recruitment.