Virtual Currency - Alt Coin Discussion Thread - Page 2 - Business, Finances and Investing Forum

Couldn't agree more - but investors don't need confirmation times to make a difference, they just need people to think confirmation times make a difference.

If the point of altcoins is to mislead its users and enrich its creators, then yes you are right. If the point is to innovate cryptocurrency, then I disagree.

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12-01-2013 , 07:44 AM

#27

Rampage_Jackson2

centurion

Join Date: May 2012 Posts: 125

Is there any information on who owns the 23 million lite coins out there?

Why are there so many, as is there a cap on how many can be made?

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12-01-2013 , 10:33 AM

#28

sinner

veteran

Join Date: Dec 2008 Posts: 2,929

https://twitter.com/fontase

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12-01-2013 , 11:03 AM

#29

2+2=5

Pooh-Bah

Join Date: Sep 2008 Posts: 3,539

81 millions litecoins can be ever made

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12-01-2013 , 11:04 AM

#30

2+2=5

Pooh-Bah

Join Date: Sep 2008 Posts: 3,539

fontas is a con artist imo, he buys first. then he announces pump, then he sells and he announces dump

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12-01-2013 , 11:07 AM

#31

TomCollins

Carpal \'Tunnel

Join Date: Jul 2003 Posts: 43,058

Quote:

Originally Posted by 2+2=5

fontas is a con artist imo, he buys first. then he announces pump, then he sells and he announces dump

Duh. That's pretty much the alt-coin game.

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12-01-2013 , 03:17 PM

#32

steelhouse

banned

Join Date: Feb 2007 Posts: 6,109

I once had 100,000 Quark and I sold them for .4 BTC, I bought 1 BTC of IFC and converted them to QRK, then converted everything back to BTC. Regarding bitcoins and alt coins everything that could have gone wrong did and I basically missed the boat on both. At least I will never be in the hole. When I bought them BTC was about $200, sold them for about $80. Thus if I kept them I would have $23,000.

Mining for coins is really not working for coins. I would much prefer investing in a coin 100% premined where the large owners use bounties to pay for real work like setting up websites, block explorers, and payment exchanges.

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12-01-2013 , 08:29 PM

#33

BrianTheMick2

Long way to go and a short time to get there.

Join Date: May 2012 Posts: 19,410

Quote:

Originally Posted by steelhouse

Do you know why they have mining?!?

Do you understand that the thesis behind bitcoin (limited supply) is completely destroyed if there are a growing number of cryptocurrencies?

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12-01-2013 , 10:59 PM

#34

Tyrannic

old hand

Join Date: Jul 2006 Posts: 1,896

Ripple currently is giving away ripples for donated computing time to world community grid (harnesses your cpu for scientific research).

https://www.computingforgood.org/

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12-01-2013 , 11:18 PM

#35

2+2=5

Pooh-Bah

Join Date: Sep 2008 Posts: 3,539

fk ripple

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12-02-2013 , 12:16 AM

#36

BrianTheMick2

Long way to go and a short time to get there.

Join Date: May 2012 Posts: 19,410

Quote:

Originally Posted by 2+2=5

fk ripple

It comes grape flavored.

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12-02-2013 , 01:53 AM

#37

steelhouse

banned

Join Date: Feb 2007 Posts: 6,109

Quote:

Originally Posted by BrianTheMick2

Do you know why they have mining?!?

Do you understand that the thesis behind bitcoin (limited supply) is completely destroyed if there are a growing number of cryptocurrencies?

Protection, but eventually there will be a zero mining reward. Also, there is Proof of Stake. Furthermore, those with the largest hoard will protect the coin.

Yes, I think bitcoin is in trouble. Not much different than buying a penny stock with no revenues. Yes, it can be used in trade, however many want a faster coin, less bloat, and no further inflation.

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12-02-2013 , 09:54 AM

#38

Gullanian

Carpal \'Tunnel

Join Date: Dec 2006 Posts: 14,014

Quote:

Originally Posted by Tyrannic

Ripple currently is giving away ripples for donated computing time to world community grid (harnesses your cpu for scientific research).

https://www.computingforgood.org/

Registered, but how do they know my wallet address? Not clear on how I claim the reward!

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12-02-2013 , 09:55 AM

#39

Gullanian

Carpal \'Tunnel

Join Date: Dec 2006 Posts: 14,014

nm im an idiot done it

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12-02-2013 , 10:03 AM

#40

Gullanian

Carpal \'Tunnel

Join Date: Dec 2006 Posts: 14,014

Fire up Amazon cloud computing instance, profit?

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12-02-2013 , 11:11 AM

#41

Tyrannic

old hand

Join Date: Jul 2006 Posts: 1,896

Quote:

Originally Posted by Gullanian

Fire up Amazon cloud computing instance, profit?

idk this doesn't seem so profitable to me...

Confirmed ripple scam strikes again.

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12-02-2013 , 11:19 AM

#42

sinner

veteran

Join Date: Dec 2008 Posts: 2,929

is there anybody who doesnt think Ripple is scamish?

ive never heard of anyone using ripple for anything. i dunno what they think people will do with it. there seem to be no changes to their website or anything. i liked the talk Mike Hearn gave on the ripple concept but Ripple is far from that

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12-02-2013 , 11:32 AM

#43

Gullanian

Carpal \'Tunnel

Join Date: Dec 2006 Posts: 14,014

We bought some Ripples. Only thing we hold apart from BTC. I don't think it's a scam, but could be wrong of course.

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12-02-2013 , 11:39 AM

#44

sinner

veteran

Join Date: Dec 2008 Posts: 2,929

you bought ripples? at what price? i was thinking about selling my 40k XRP from the giveaway cuz i dont see Ripple going anywhere. kinda depressing that i coulda gotten ~7 BTC for em earlier this year

i am open to the ripple idea, but i havent seen anything from Ripple to make me think their implementation has much potential.

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12-02-2013 , 11:47 AM

#45

Gullanian

Carpal \'Tunnel

Join Date: Dec 2006 Posts: 14,014

Bought them at about 2.5c each from BitStamp, currently BitStamp is selling them for about 10c each

Not sure how on earth we'd go about selling them though. And I think BitStamp is selling them for a little higher than other places.

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12-02-2013 , 01:41 PM

#46

Somnius

grinder

Join Date: Oct 2007 Posts: 556

I was part of the Ripple beta and traded my initial bout of free xrp for btc back when it first started.

The Ripple system is great, however growing ever more redundant as layers to the btc platform have much more potential, ie mastercoin.

XRP touted as a currency is a complete marketing play and is plain nonsense. XRP is an internal transaction token system, and if you've used the Ripple system to transact, you understand you don't need many of them, and there likely will never be a need for 100 trillion of them or whatever it is.

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12-02-2013 , 11:35 PM

#47

2+2=5

Pooh-Bah

Join Date: Sep 2008 Posts: 3,539

what the heck is with quark coin? explain me please?

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12-03-2013 , 11:10 AM

#48

Gullanian

Carpal \'Tunnel

Join Date: Dec 2006 Posts: 14,014

Dunno, looks like junk. Was pumped and dumped by some economist dude on Twitter who was anti Bitcoin though iirc

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12-03-2013 , 02:25 PM

#49

sangaman

Carpal \'Tunnel

Join Date: Aug 2007 Posts: 9,883

Quote:

Originally Posted by Gullanian

Dunno, looks like junk. Was pumped and dumped by economist dude on Twitter who wa some s anti Bitcoin though iirc

This could be a mad libs for most alts:

"Looks like (worthless noun). Was (scammy verb) by a (nerdy person) on (social media network) who was anti (feature of bitcoin)."

I'll try.

Looks like garbage. Was premined by a survivalist goldbug on Reddit who was anti ASICs.