Quote from: Mauerbrecher on December 21, 2013, 11:48:37 PM

Hi Burnum. Yes I read a lot that altcoins are dangerous. I see the ridiculous rises and falls in the charts. Now this with QRK. I bought QRK, but then people said this Keiser report with Bill Still would be a pump before the dump. Seeing the charts, you actually see the dump. Today I woke up and booted the PC, saw that NXT had risen about 200%. I could cash out with a 4 times profit of my initial input. However, I chose to cash only my input and continue with still keeping the rest of the coins (seen the value of each coin quadripled). Next thing I noticed was that many people started to sell NXT. I watched the sales carefully and saw people just going lower and lower with their selling prices, unintentionally "dumping" the value of their coin.

Now you could say that the altcoins are just there for pump and dump, which could be partially true. However, every altcoins (even BTC) could be seen as a pump and dump, because of the crazy increases and decreases of their value. While the problem lies with the owners of the coins themselves. When they see the coin has risen in value, each of them gets the look of $_$ in their eyes and tries to sell an x amount of their coins. Because people buy the cheapest coin, everyone is going to lower their prices, yielding a decrease of the coin value.

Many of those alt-coins are made by programmers solely looking to get profit.
They changed the block award, block time, difficulty adjustment time, etc, randomly, and made a fancy name, but without a single new feature added. I see no values in those coins at all.