The Altcoin Thread

Dark Shade said:
What are you expecting to take off? I'm hoping Doge has some recovery soon, would like to get some cash.
Click to expand...

It will most likely recover a few points if BTC dips a bit further this weekend. Its value just has not risen in relation to BTC over the past few days. Hypothetically speaking, if BTC were to crash to $600 tomorrow, then the value of DOGE would *probably* rise back up to .0000006 or something. If BTC continues to climb to $850, then DOGE would rightfully be about .00000027 or less.

But, just think of it this way. If you cash out today, you will get fewer BTC now, but they will just be worth more per BTC.

But mkrohn is right. It's not a long term investment, if you're not cashing out what you make each day at least into one of the incumbent "mainstream" coins like BTC or LTC, then don't say you weren't warned.
 
Carbon_Rod said:
It will most likely recover a few points if BTC dips a bit further this weekend. Its value just has not risen in relation to BTC over the past few days. Hypothetically speaking, if BTC were to crash to $600 tomorrow, then the value of DOGE would *probably* rise back up to .0000006 or something. If BTC continues to climb to $850, then DOGE would rightfully be about .00000027 or less.

But, just think of it this way. If you cash out today, you will get fewer BTC now, but they will just be worth more per BTC.

But mkrohn is right. It's not a long term investment, if you're not cashing out what you make each day at least into one of the incumbent "mainstream" coins like BTC or LTC, then don't say you weren't warned.
Click to expand...

huh?

Altcoin market cap valuation rightfully rises and falls right along with the value of BTC. The price ratio of DOGE:BTC should have absolutely no bearing on what BTC:USD valuation is, given DOGE's valuation is solely based on valuation in BTC, not USD.

The only altcoin that might possibly be able to be truly independent of the above rule is WorldCoin once Scharmbeck goes live. I think LTC might have some fiat backing behind it by now as well, but I'm pretty sure the majority of it is still backed by a percentage of BTC funds.

The entire altcoin world is tied to BTC, not USD. The only reason the price of DOGE is falling is because people aren't willing to pay for it anymore. And why would they?
 
With my 6970, does anyone think it is worth it to mine LTC directly? Or Feathercoin? If so, any ideas for a good pool? I'm currently on mupool.com which seems to have a lot of good features, but that LTCRabbit looks promising with a full on modified PPS and a lower fee than most PPS.

I'm considering what I should do with the few thousand DOGE I have so far, if its time to get out or not, and stick to something like LTC/FTC along with Anoncoin (which seems to be worth it with the rate improvements arrive - if they basically mesh with Zerocoin protocol that will really be something, but even now the built in i2p and Tor support helps them stand out from other coins. WorldCoin's wallet seems to be taking bloody forever, but perhaps if its proposed stuff in Feb pans out, it will all be worth it.

Sunny: with regards to WorldCoin, are you mining the coin itself or considering buying Scharmbeck shares?

Aside from "joke/quick turn around" currencies, I'm guessing that Litecoin, Feathercoin(?), Anoncoin, and WorldCoin are those worth investing in at the moment and/or mining.
 
SunnyD said:
huh?

Altcoin market cap valuation rightfully rises and falls right along with the value of BTC. The price ratio of DOGE:BTC should have absolutely no bearing on what BTC:USD valuation is, given DOGE's valuation is solely based on valuation in BTC, not USD.

The only altcoin that might possibly be able to be truly independent of the above rule is WorldCoin once Scharmbeck goes live. I think LTC might have some fiat backing behind it by now as well, but I'm pretty sure the majority of it is still backed by a percentage of BTC funds.

The entire altcoin world is tied to BTC, not USD. The only reason the price of DOGE is falling is because people aren't willing to pay for it anymore. And why would they?
Click to expand...

Not seeing it this time. I've been watching all of the alt coins and unless it's just a massive coincidence, but all of them have been slowly going down starting at the same time BTC started to rise. Maybe the connection is being inferred between BTC and USD seeing as the only connection for most of these alt coins to actual USD is through BTC first. Dunno, unless I'm just seeing things.
 
SunnyD said:
huh?

Altcoin market cap valuation rightfully rises and falls right along with the value of BTC. The price ratio of DOGE:BTC should have absolutely no bearing on what BTC:USD valuation is, given DOGE's valuation is solely based on valuation in BTC, not USD.

The only altcoin that might possibly be able to be truly independent of the above rule is WorldCoin once Scharmbeck goes live. I think LTC might have some fiat backing behind it by now as well, but I'm pretty sure the majority of it is still backed by a percentage of BTC funds.

The entire altcoin world is tied to BTC, not USD. The only reason the price of DOGE is falling is because people aren't willing to pay for it anymore. And why would they?
Click to expand...

While in theory the coins are tied to BTC people are actually doing the conversion to USD this time around it "feels" like. So many coins seem to be ratcheting downward with this BTC price increase. When many coins are doing it I have trouble calling it a coincidence. I'm with Carbon on this one.

No matter what is happening DOGE is worth about the same in USD as it was and it does seem to be hanging around the same USD price. I would still cash out on DOGE every single night. I have my pool sending me every 20k earned and instantly cashing it out to market on craptsy

As for long term anything short of LTC and worldcoin I just don't have the faith in it. Many have faith in XPM but i don't. Anoncoin I've never even owned any of.... I don't consider it in the same class as LTC/FTC/WDC. FTC and WDC do have a long history of pump/dump
 
mkrohn said:
While in theory the coins are tied to BTC people are actually doing the conversion to USD this time around it "feels" like. So many coins seem to be ratcheting downward with this BTC price increase. When many coins are doing it I have trouble calling it a coincidence. I'm with Carbon on this one.

No matter what is happening DOGE is worth about the same in USD as it was and it does seem to be hanging around the same USD price. I would still cash out on DOGE every single night. I have my pool sending me every 20k earned and instantly cashing it out to market on craptsy

As for long term anything short of LTC and worldcoin I just don't have the faith in it. Many have faith in XPM but i don't. Anoncoin I've never even owned any of.... I don't consider it in the same class as LTC/FTC/WDC. FTC and WDC do have a long history of pump/dump
Click to expand...

I agree with what you're saying - real world people are tying them to the USD, but they're idiots. NONE of these altcoins have any real world backing. Hell, none of them other than LTC and by proxy FTC and a handful of others are even backed with BTC. It's just bizarre what's going on. People are taking every altcoin/crapcoin at face value now.
 
Xaeos said:
With my 6970, does anyone think it is worth it to mine LTC directly? Or Feathercoin? If so, any ideas for a good pool? I'm currently on mupool.com which seems to have a lot of good features, but that LTCRabbit looks promising with a full on modified PPS and a lower fee than most PPS.

I'm considering what I should do with the few thousand DOGE I have so far, if its time to get out or not, and stick to something like LTC/FTC along with Anoncoin (which seems to be worth it with the rate improvements arrive - if they basically mesh with Zerocoin protocol that will really be something, but even now the built in i2p and Tor support helps them stand out from other coins. WorldCoin's wallet seems to be taking bloody forever, but perhaps if its proposed stuff in Feb pans out, it will all be worth it.

Sunny: with regards to WorldCoin, are you mining the coin itself or considering buying Scharmbeck shares?

Aside from "joke/quick turn around" currencies, I'm guessing that Litecoin, Feathercoin(?), Anoncoin, and WorldCoin are those worth investing in at the moment and/or mining.
Click to expand...

ltcrabbit is my primary pool, overall I have been happy with them, but lately there have been some issues with my hash rate not lining up with the coins ltcrabbit is crediting me.

Only lost out on .5 ltc, but it's enough that I am watching it like a hawk and may change pools full time if it happens again.
 
I just launched a new Kitteh [MEOW] coin pool @ kitteh.livechains.net, 1% for general public... 0% for the [H]orde, just send a pm with your pool username or sign up with [H] in there somewhere and I'll flag it.

new domain coming down the pipe (waiting on registration/propagation of nameserver changes) is gonna be located at kitteh.pro / kitteh.biz, when the service is available from my host I'll bump the pool to a merged mining pool, so the livechains addy is temporary, and is not a regular livechains pool.
 
SunnyD said:
I agree with what you're saying - real world people are tying them to the USD, but they're idiots. NONE of these altcoins have any real world backing. Hell, none of them other than LTC and by proxy FTC and a handful of others are even backed with BTC. It's just bizarre what's going on. People are taking every altcoin/crapcoin at face value now.
Click to expand...

i've given up on trying to make sense out of the ups/downs but my observation is like it or not people tie all of these to USD as a more traditional stock exchange than a commodity.
 
NeuroticTurtle said:
I just launched a new Kitteh [MEOW] coin pool @ kitteh.livechains.net, 1% for general public... 0% for the [H]orde, just send a pm with your pool username or sign up with [H] in there somewhere and I'll flag it.

new domain coming down the pipe (waiting on registration/propagation of nameserver changes) is gonna be located at kitteh.pro / kitteh.biz, when the service is available from my host I'll bump the pool to a merged mining pool, so the livechains addy is temporary, and is not a regular livechains pool.
Click to expand...

First of all, thanks for the free [H]orde discount! Would you be able to tell us more about the pool? For instance, does it have vardiff, stratum, etc...? Next, I'd be interested to know why you chose Kittehcoin - I've seen the announcement of CatCoin, Kittehcoin, Memecoin etc... and wonder how they differ.
 
Xaeos said:
First of all, thanks for the free [H]orde discount! Would you be able to tell us more about the pool? For instance, does it have vardiff, stratum, etc...? Next, I'd be interested to know why you chose Kittehcoin - I've seen the announcement of CatCoin, Kittehcoin, Memecoin etc... and wonder how they differ.
Click to expand...


Sorry, I guess more details might be useful... I went with kitteh coins because they're quick enough growing that they'll take off well enough, but the source has room for more advanced features, including upcoming support for namecoin's nameid field when using sendtoaddress. Block difficulty is still ridiculously low, ~200-250k/day on ~1.1mh/s, pool does support vardiff I believe.

more info on [MEOW]: https://bitcointalk.org/index.php?topic=383068.0
 
Well, this morning I did it. I think I lost almost all confidence in almost all the alt coins and went back to straight LTC. Maybe it's because I'm sick and it's affecting me by making me a bit more grumpy and nervous. At any rate, gonna do that for awhile.

I mean, the signs are there. Look how many places LTC has climbed on Coinwarz. It used to be close to the bottom, now it sits just above center. I guess it just feels safer leaving my workers on LTC than something that could fade out of existence tomorrow.
 
Carbon_Rod said:
Well, this morning I did it. I think I lost almost all confidence in almost all the alt coins and went back to straight LTC. Maybe it's because I'm sick and it's affecting me by making me a bit more grumpy and nervous. At any rate, gonna do that for awhile.

I mean, the signs are there. Look how many places LTC has climbed on Coinwarz. It used to be close to the bottom, now it sits just above center. I guess it just feels safer leaving my workers on LTC than something that could fade out of existence tomorrow.
Click to expand...
I am only mining the following coins: LTC,DOGE,Feather. I might get some WDC as well here in the next few days. But that's it. currently holding about 250,000 doge coins. Mining LTC again for a few days as well.
 
Guys, forget LTC......you are driving the difficulty up for me! :)
 
Vengance_01 said:
I am only mining the following coins: LTC,DOGE,Feather. I might get some WDC as well here in the next few days. But that's it. currently holding about 250,000 doge coins. Mining LTC again for a few days as well.
Click to expand...

I still want to mine some WDC over the next little while. Maybe if I start to feel better and maybe if some of the crypto market decides to recover a bit, I might switch a few workers over. Right now I think I need to leave my workers on LTC for awhile. Lately I've been switching coins quite often. I need to take a breather.

I was going to say something here about cashing out those DOGE now because it doesn't look like it's going to recover... but of course, wouldn't you know it, it's actually recovering a few points.
 
Last edited:
SunnyD said:
Honestly, I've had about all I can of the shitcoin craze. The scrypt market has come to an impasse. Here are the problems:

#1 - LTC difficulty makes it so you need a monetary investment to make decent money, but see #4 since slow and steady may no longer win the race.

#2 - The rise of the shitcoins has diluted the scrypt market so that it makes trying to figure out what to mine difficult.

#3 - The multipools are wreaking havoc on the scrypt points, causing many of them to fork once a huge pool like middlecoin decides to focus its attention on it thereby breaking the coins, often irrepairably because they were made as a scam by someone with absolutely no ability who should never have tried to make a coin in the first place.

#4 - scrypt asics are being promised in about 6 to 9 months time, bringing an instant 25+ MHash/s to anyone willing to throw wads of cash at companies. Thus begins the hardware arms race for incumbent "stable" coins like LTC that drove the difficulty of BTC out of reach from the general population in a hurry.

We've got a problem, and it's getting compounded daily.
Click to expand...

#1 - That's not necessarily a bad thing. That's like saying, "life sucks, you usually have to go to college not to be poor and that's an investment in time and money. Completely unacceptable".

#2 - Ignore the garbage coins if you are looking for a more reliable (if that exists in crypto-currency, lol) coin to mine. Treat the garbage coins like a long shot bet, which to be fair is all that every crypto-currencies is, ultimately it's just a matter of degree.

#3 - Symptom of an abundance of garbage coins, not really much you can do about it.

#4 - It's vaporware until it exists. However I'm guessing it's going to go down different than bitcoin this time around. Keep in mind that the people that dump a lot of cash into Scrypt ASICs are going to want to recover their money at some point. When bitcoin ASICs launched it was after the first halving. With litecoin it's going to be before the first halving if the announced timetable holds true. Proportionally speaking, this will put more LTC into the hands of ASIC minsers vs. GPU miners.
 
I'm still not convinced scrypt asics will be the game changer they were for Bitcoin. It's all about memory bandwidth and pin count, and the cost of both well keep the cost of the scrypt asic high and the performance low. I think there will still be a place for enthusiast miners, although at a lowered level of effectiveness.
 
Scrypt, unlike SHA-256, needs a lot of RAM. That means you either build the RAM onto the ASIC, friggin' expensive, or you build a memory controller into your ASIC, friggin' complex and expensive- just ask Intel and AMD.

Affordabale Scrypt ASICs are scams, and I will eat a hat if someone demonstrates one to me and proves me wrong.

H.
 
ASICs won't push out GPU miners. I don't think they'll work on coins that use scrypt jane or the quark algorithm, for example.

There was also some SHA3 coin that could only be mined on CPU, someone could write a GPU miner for that also.

I don't know if any of he existing coins that use different algos will get to the level of Litecoin but certainly - something will eventually. I dont think GPU mining is ever going away
 
Those ASIC prices really aren't bad. You get 25 MH/s for $9000, which is 2.77 kH/s per $. That's on par with GPUs. Even the 5 MH/s one for $2200 is 2.27 kH/s per $ which is still fine. Once these are out, there will be no reason to build GPU farms. But at least the existing farms should have a good amount of life still left in them.

I'd love to order one, but this time around I think I'll just buy any coins I'm interested in with USD. I've got my 7 MH/s mini farm so I'll just keep going until the ASICs make it unprofitable to mine at $0.11 kWhr.
 
so i take it the 333kh USB farms are out and anyone selling them are trying to recover investment?

I was thinking of grabbing a few for some low power, mine away and never watch BTC.
 
jjandrob said:
so i take it the 333kh USB farms are out and anyone selling them are trying to recover investment?

I was thinking of grabbing a few for some low power, mine away and never watch BTC.
Click to expand...

profit generated with a block eruptor is something like 9 cents a day, and constantly falling...

You are better off taking whatever you were going to spend and buying BTC directly.
 
Darn it my cards really need to come this week (crappy USPS mis-routed it to China -_-) ETA for Asic is around Q2-Q3 right?
 
Darksieg said:
Darn it my cards really need to come this week (crappy USPS mis-routed it to China -_-) ETA for Asic is around Q2-Q3 right?
Click to expand...

ETA was Q2-Q3 of LAST year. There's a guy on a forum that has a sig using the line through it for first the claimed hashrates (keeps going down) then the claimed power consumption (keeps going up) with the like $7k pricetag.

ASIC will come eventually but they will not be redefining the game to a point where GPU's are history. The very fast RAM paired with a processing unit are simply not going to be very cheap to build. The current graphics cards like the 290 when they're down at MSRP or below like they normally would be is about as good as it'll get once cgminer is refined a bit to handle the card better.
 
Modder said:
I caught the doge train to eBay and cashed that shit in hard and fast. Pulled over $4000 in 5 days selling doges. Profit was to the tune of $1k free and clear after fees.
Click to expand...

Don't spend that money just yet.

Buyers can easily do chargebacks and ebay/paypal will yank it right out of your bank account if you do not have it in your paypal account.

Ebay doesn't allow digital delivery. Unless you used a paper wallet or something like that, if a buyer disputes the sale, ebay will not take your side.

I'd wait 60 days before spending it.
 
vibe said:
Don't spend that money just yet.

Buyers can easily do chargebacks and ebay/paypal will yank it right out of your bank account if you do not have it in your paypal account.

Ebay doesn't allow digital delivery. Unless you used a paper wallet or something like that, if a buyer disputes the sale, ebay will not take your side.

I'd wait 60 days before spending it.
Click to expand...

Well do i know this. I sold some BF4 codes on ebay and the next day after I emailed them, I got 2 chargebacks.. well, I just took the game cards, and mailed them the next day, then input the tracking into the paypal dispute... I'm hoping that works.
 
Bosom said:
Well do i know this. I sold some BF4 codes on ebay and the next day after I emailed them, I got 2 chargebacks.. well, I just took the game cards, and mailed them the next day, then input the tracking into the paypal dispute... I'm hoping that works.
Click to expand...

Yeah, when I sold those AMD game cards, I made sure to mail the card w/ tracking. Unforuntate because it's like $1.70 to do first class w/ tracking but a small price to avoid charge back. Even when I specified in the listing that buyers expecting the code to be emailed to please look elsewhere, I still had one buyer win the auction and demand I email it. Sure enough I mailed it and it was lost in the mail. It's like it was never scanned in at the post office. The guy was a dick anyway. I googled his address and it looks like an industrial park in Florida... doubt anyone was living there.
 
Anyone have deposit issues with coins-e? over 100,000 doge coins never made it to my wallet despite the transaction now should 600+ confirmations. My ticket have been open with them for 1 1/2 days without a single response. Anyone know of a better way to contact them.
 
Vengance_01 said:
Anyone have deposit issues with coins-e? over 100,000 doge coins never made it to my wallet despite the transaction now should 600+ confirmations. My ticket have been open with them for 1 1/2 days without a single response. Anyone know of a better way to contact them.
Click to expand...

Coins-E should be avoided at this point - I don't think they are giving a shit about making sure their service is working. Many of their coins are on wrong versions and/or forks. I'm still waiting to hear ANYTHING back from them about an issue I had involving about $100 worth of coins. My guess is I won't hear anything given what I've been reading over the last week or so about them. At least not any time soon.
 
Vengance_01 said:
Anyone have deposit issues with coins-e? over 100,000 doge coins never made it to my wallet despite the transaction now should 600+ confirmations. My ticket have been open with them for 1 1/2 days without a single response. Anyone know of a better way to contact them.
Click to expand...

The last news I heard about Coins-e was that they were running on a different fork of the DOGE coin block chain. The chain forked at least twice this past weekend and everyone has been urged to update to version 1.4 of the DOGE wallet.

That said, I'm not sure how you would go about recovering the coins in any lost transactions.
 
Carbon_Rod said:
That said, I'm not sure how you would go about recovering the coins in any lost transactions.
Click to expand...

Best case, they update their client and the coins show up eventually. The transactions should be out there, at least in Vengance_01's case - presuming he SENT them on the correct version. Coins-E just needs to update their client daemon. That's assuming the client update didn't force address changes.

In my case, I was sending coins FROM Coins-E, which means my coins went OUT on the wrong fork, and thus don't exist in the blockchain at all. Best case, Coins-E feels generous and refunds me somehow.

Worst case, they say "tough luck" and hide behind this little blurb from their ToS:

Disclaimer of Warranty
You expressly agree that use of the Site is at your sole risk and discretion. The Site and all content and other information contained on the Site is provided on an "AS IS" and "AS AVAILABLE" basis without warranty of any kind, whether express or implied. Inspirin. makes no warranty that (I) the Site and content or information will be uninterrupted, timely, secure or error-free, (II) the results that may be obtained from use of this Site will be effective, accurate or reliable. The Site may include technical mistakes, inaccuracies or typographical errors. Inspirin. reserves the right to change the Site content and information at any time without notice.

Limitation of Liability.
In no event shall Inspirin. or its affiliates be liable for any indirect, incidental, special, punitive damages or consequential damages of any kind, or any damages whatsoever arising out of or related to your use of the Site, the content and other information obtained therein.
Click to expand...

In summary, it reads "Shit happens. Even if its our fault, it's not our fault. You'll get over it. Thanks!"
 
Just wondering about powered risers. Does a x1 to x16 work in an x16 slot? Seems the x16 to x16 risers aren't really in stock anywhere anymore.
 
Carbon_Rod said:
The last news I heard about Coins-e was that they were running on a different fork of the DOGE coin block chain. The chain forked at least twice this past weekend and everyone has been urged to update to version 1.4 of the DOGE wallet.

That said, I'm not sure how you would go about recovering the coins in any lost transactions.
Click to expand...
Great. It was 132,000 coins and while it was not much, its still wasted mining days. What is considered the best coin exchange now?
 
oblox said:
Yes
Click to expand...

Thanks! I thought it would since a sound card works in a x1 and x16 slot, but you never know.

Any place that you recommend buying them? Amazon seems kind of expensive at $20 a pop.
 
Vengance_01 said:
Great. It was 132,000 coins and while it was not much, its still wasted mining days. What is considered the best coin exchange now?
Click to expand...

Cryptsy unfortunately, though I've been using CoinEx for most of my business lately.
 
SunnyD said:
Cryptsy unfortunately, though I've been using CoinEx for most of my business lately.
Click to expand...

as much as everybody likes to call them craptsy they really are the best you'll find out there short of a couple that are JUST BTC like coinbase and gox
 
You must log in or register to reply here.
Back
Top