Trading is not a zero sum game. The ability to use a medium of exchange can make a transaction go cheaper. Both benefit the buyer and the seller.

Is anyone here using a mining strategy of getting in on all (or the better sounding) new coins, getting a ****-ton of them while difficulty is tiny and then hoping one of them explodes one day? I'm thinking of writing a few crawlers to keep an eye out for new coins (and possibly filter them based on a few variables) and a script to have my miner switching between a number of new coins.

Thoughts? It's obviously a gamble strategy and I'd have to eat the electricity and hardware costs, at least in the short term if it ends up profiting. If anyone is doing something similar or is interested in getting started PM me, would be cool to have someone to work with. Haven't even built my miner yet, so noobs are welcome!

not worth it imo, you need to invest a lot if you want to solo mine since new coins usually don't have reliable pools.

you need to research new coins yourself

That's the point.

Results oriented isn't what I'm talking about. I'm talking about completely unfeasible dumb ideas, where the cost of figuring out its dumb is more than the risk of just throwing money and hoping to get lucky.

There are plenty of dumb ideas that get funding because a lot of VCs don't have time or ability to judge them for their merits.

VCs throw money at stuff because they don't need to be super accurate, and beyond that, many are just bad at what they do and lose money.

Ah yes, the essence of altcoin development.

Who cares if all this is a bubble? The stock market is a bubble, real estate is a bubble, etc. Yet we invest in all of those to make money, knowing full well it can crash at anytime.

The question to ask isn't whether Altcoins is a bubble or not (because it most likely is) - the only concern is When will this bubble pop? And how do I make the most money & get out before it does?

this has been argued and talked about before. i am in the "trading is a zero sum game" camp.

then those dumb ideas must be really dumb. hehehehe. which of the vc's have the highest number of investments of dumb ideas? we oughta have a list of the most successful and worst vc's in terms of success of investments.

yup. exactly. i really do hope this altcoin craze will become just like the .COM internet hype of the late 90's. we all could make some decent money at least.

i have been encouraging my friends who missed the online poker craze to take a look at crypto-currency trading and judge for themselves. altcoins have a little economy going all by itself without regulations. there should be some money to made if you know where to look.

this recent bubble popped ~6 weeks ago. you were supposed to sell your ltc and nmc at 0.04-0.05 and 0.01-.015 /btc respectively.

now we wait until it bottoms. accumulate ltc and nmc slowly starting in about a month or two.... wait for the next epic rise... and repeat.

yeah, but dogecoin actually has a community behind it. I'm super bullish on dogecoins because there is so much infrastructure being built for only a month old alt-coin. It is getting people that were never into cryptocurrency, interested. The subreddit will shortly reach 30K subs, way surpassing litecoin.

A) How do you guys stay up to date with what Crypsty/other exchanges just added????

B) What are the best news outlets/twitter accounts for real-time updates on alternative currencies?

Ethereum looks like it might be the first alt that I am interested in.

looks good. who are the people behind this project?

i'm really interested in this as the other ripple-like projects with built in pre-mined currency look like scams.

I know Vitalik Buterin, who is a really sharp guy, is working on it. Not sure about others.

Dogecoin going alright

what is the best subreddit for keeping up with how Altcoins are doing/what new altcoins are coming up??

r/CryptoCurrency/

Ethereum seems very interesting. Can you provide any insight Tom? Will you be investing in the IPO or anything?

I'll need to do more investigation to see if it warrants IPO investment. I'm not going to throw money into it until I know more. Might throw a small amount as gambool, though.

Where would one be able to buy a coin such as Ehtereum right at the time it comes out?

What about it looks special/different to you?

It has new features that cannot be done in Bitcoin and would be very useful, a much more complete scripting language.

My concern is it's very ambitious, gives the founders a huge payout without any requirements of working on it.

check out the perfect symmetrical triangle on the DOGE/BTC chart over the past 24 hours