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Author Topic: How in the FUCK are you supposed to know what's legit?  (Read 3456 times)
crimesofthemind
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December 29, 2014, 03:20:09 AM
 #1

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.
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Yurizhai
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December 29, 2014, 03:28:02 AM
 #2

At this point it feels impossible to keep up with every single development in the crypto world, however I feel that the truly legit ones that bring something to the table make themselves visible over time.
crimesofthemind
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December 29, 2014, 03:29:21 AM
 #3

I agree - but from what I've read, people are saying that at that point, it's already too late.

WTF
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December 29, 2014, 03:29:49 AM
 #4

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.

By identifying what the scam artists are doing...

Read this and learn how these fuckers are operating on here:

https://bitcointalk.org/index.php?topic=896480.0


Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 25 btc per week.
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December 29, 2014, 03:30:52 AM
 #5

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.

First you should formulate some broad heuristics to filter out a large majority of coins. For example, I am not interested in any fastmined or pre-mined coins. This eliminates 90%+ of coins right off the bat, as you can see from this report: http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins

You have to decide what you are looking for in a coin, technically and otherwise. Once you do, you may find that the list of coins that meets your requirements will be vanishingly small.

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darkangel11
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December 29, 2014, 03:32:43 AM
 #6

To call an altcoin a scam you'd have to deal with something like a fake wallet with a trojan inside. If the coin is a pump and dump it is completely legit, you know what you're paying for and should expect that it can as well cease to exist and never reach the moon.

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December 29, 2014, 03:33:04 AM
 #7

I will offer this disclaimer...Never trust a strangers opinion without doing due diligence. That being said the coins that show the most promise to me are Monero (XMR) and Burst (BURST). I buy them and I mine them. GPU rigs can mine both at the same time with little power consumption and little heat. If you want to know more then you will have to do your own due diligence.

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December 29, 2014, 03:33:54 AM
 #8

I agree - but from what I've read, people are saying that at that point, it's already too late.

WTF

Yes, getting in on something very early that is legit and ground breaking is dream level, stop wishing for that to happen because it's rare. Be happy if you can get into one fairly early and think medium term.
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December 29, 2014, 03:38:54 AM
 #9

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.
You have to spent time to research and find the best.
Honeypot
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December 29, 2014, 04:03:56 AM
 #10

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.

For one thing, the developer fully disclosing his face, name, country, business  number and contact info including his cell number might be a good start.

Like this guy and his projects: Rofo (aka Jason L. Curby) twitter https://twitter.com/NobleCoin NobleNXT etc.
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December 29, 2014, 04:14:50 AM
 #11

You take your time to do your research.

Most people will make themselves known in real life and in person and actually not ask for money or do a premine BS scam.


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Sir Alpha_goy
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December 29, 2014, 04:27:01 AM
 #12

.
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December 29, 2014, 05:33:41 AM
 #13

My take it on is this: Does it fulfill a currently unfulfilled need? Bitcoin is well established, so why would I want to invest in a coin - legit or not - that works in exactly the same way? On the other hand, certain Altcoins actually do something that can make them desirable. Darkcoins, for example, protect privacy which would make them more suitable for some people. At the very least I can easily see Darkcoin having a role alongside Bitcoin because it does something that Bitcoin doesn't. Then there is "Atomic" which aims to be a decentralized currency exchange. Imagine being able to work in whatever coin is most convenient? That could certainly be a game changer. Namecoins aim to replace DNS where the coins themselves are primarily seen as a form of payment for .bit domains and the people who support those domains are paid accordingly. On the other hand, take Litecoin. I have a few, but it doesn't fulfill any new purpose, so I don't give it much attention. People in general have limited attention spans and we don't need more than one coin that does the exact same thing, but if it fulfills a need it will succeed by virtue of what it accomplishes.

In this post I proposed two new altcoins - energy coins for decentralized energy distribution and network coins for decentralized internet grid. Although the suggestion would depend on some specific hardware implementations that don't yet exist, each suggestion aims to meet a previously unfulfilled need.

My overall point is this: If it fulfills a real need, read up on the details. If it doesn't, why bother?

Immortal until proven otherwise.
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December 29, 2014, 05:42:49 AM
 #14

Crypto is a high risk for a reason which is why its equivalent to penny stocks
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December 29, 2014, 07:29:26 AM
 #15

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.


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sidhujag
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December 29, 2014, 07:31:06 AM
 #16

Some coins will make u insanely rich in a few yrs

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newuser01
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December 29, 2014, 07:37:49 AM
 #17

Some coins will make u insanely rich in a few yrs

Thank you for pointing out how to know what is legit

your major contributions to this thread will never be forgotten.
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December 29, 2014, 07:40:39 AM
 #18

Some coins will make u insanely rich in a few yrs

Thank you for pointing out how to know what is legit

your major contributions to this thread will never be forgotten.

what about my contribution?

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SBOSS
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December 29, 2014, 08:09:21 AM
 #19

It is not research but rather a process of elimination. 

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December 29, 2014, 08:23:32 AM
 #20

Some coins will make u insanely rich in a few yrs

Thank you for pointing out how to know what is legit

your major contributions to this thread will never be forgotten.
My point already stated in the obvious above it.. I led to the conclusion..
Here ill give u a bone. Learn to assess the coin devs decisions.. If they are good and the coin shows promise chances are there will be more great things to come... If they are soso and seem like thry are made because of greed or just to fulfil a promise then u know its a pump and dump. If no decisions then its a dump.. Ill let u ponder that for a while feel free to come back in hindsight..

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