What is Going On With New Altcoin Launches These Days

2 Jul
2014

mj-alt-coin-specifications

It seems that lately there are just very few new alternative coins worth mining and they are getting fewer and fewer. We are still seeing multiple coin launches every day, but the ones that look decent or even worth checking out are getting less and less. Large percentage for IPO or Pre-mine, no actual reason for a coin’s existence or a plan for development, quick POW phase and then POS resulting in mine and dump as soon a the coin hits an exchange. Not to mention that with many people renting their rigs and selling hashrate you can easily get a lot of hashrate to mine a new coin and then you just want to dump the mined coins with profit and then move to the next new launch. All this is driving away people from new coins, but it will hopefully result in the launch of more reasonable coins taking over… just like how the interest in “country coins” has declined. We need quality and not just quantity, we need innovation in order for things to move on. Now everyone is giving empty (mostly) promises about anonymity, but with Darkcoin not doing so well after the recent boom and new coins not being able to deliver on empty promises about anonymity, this is also getting old. So more and more miners prefer to start selling their hashrate with expected stable profit or to mine in multipools with some extra profit and direct payment directly in BTC to save themselves time and headaches. So what comes up next?



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4 Responses to What is Going On With New Altcoin Launches These Days

NoobMiner

July 3rd, 2014 at 12:52

Agreed. Vootcoin is next!

Charlie

July 3rd, 2014 at 14:11

True, darkcoin has been a bust as far as anonymity is concerned, but let’s be honest, even if their implementation had worked out, the owners of the masternodes would have been able to track transactions through their nodes so it really wasn’t as anonymous as they claimed. Have you looked at the Vertcoin stealth address solution? I think it looks a lot more feasible.

pero

July 3rd, 2014 at 15:19

Check out cloakcoin

adachi

July 4th, 2014 at 04:02

Totally agree, all this flood of fly-by-night alts are diluting the value and credibility of ‘real’ coins but this is the side effect of completely unregulated, free market .. and usually the market will decide how this will all pan out…

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