Post
Topic
Board Altcoin Discussion
Re: Why Feathercoin will fail
by
Walter Rothbard
on 29/04/2013, 20:38:13 UTC
MtGox starts trading Litecoin soon. There is an endless line of customers newbies fools waiting to start trading on MtGox throw money at us miners. They don't care whether it's Bitcoin or Litecoin or Shitecoin - as long as it's Somecoin.
Why is this the general impression I get from the people surrounding Feathercoin, they only care about the fiat money that could be earned. While people supporting BTC and LTC do it because they believe in it as a currency and not a get rich scheme. You call people who buy a cryptocurrencie fools?

I honestly think that the best way to help Bitcoin and the whole cryptocurrency movement in general is to build a profitable business in it.  Profit is your measure of whether you are helping or not.
Building a profitable business in it? By mine the hell out of it the first days so a select few have 3,000,000 to split amongst each other and sell them for lots of money. It never worked in the past, why the hell would ftc be different? And if you think you can take that kind of profit as a measurement whether or not someone is helping, you're definitely wrong. You can only have a succesfull coin if people actually work for them, build services for it and sell goods for them. Buying and holding in the hope Joe sixpack will throw some more money to you than you paid for it is just not helping the coin. How many profit that person may have, it is not a measurement. Their are people on this forum with <50btc or <50ltc who did a lot more for them than some with big wallets.

I don't have mining in mind as a profitable business, and I doubt that long term very much profit in the cryptocoin community is going to come from launching new coins.

If it does, though, then I guess the community needed it!