Post
Topic
Board Altcoin Discussion
Re: How we crypto-geeks get it wrong & the reality of altcoin success.
by
First.Bitcoins
on 29/07/2014, 22:03:33 UTC
I'll say up front I haven't read the whole thread. 

Here is my problem with 99% of new altcoins.  They are just ideas.  Someone has a big idea, makes a coin, gets it on an exchange as quick as possible and most of the time the coin pumps and dumps and dies.  In my opinion for an alt coin right now to succeed a lot work must be done before it's announced and mined.  Software must be developed, games/casino/etc up the minute the coin launches, debit/credit cards with coins available right away, the blockchain and all wallets pre-made, etc. 

So many coins come out with nothing but a plan, gets some coins, makes some BTC and decided it's too much work to actually do what was purposed or never planned on doing it anyways.  There needs to be better use-ability in the now and not just in the present.  Just my 2 cents.

Definitely agree with that. I just saw an IPO for something I think is called Checkcoin, and I thought the idea was really good and has huge potential, but I can't really justify giving them any money because it was exactly what you described - purely an idea with no evidence that they've done anything yet or that they are capable of doing what they say.

I agree. I have seen coins trading on exchanges that don't even have working Windows or MAC wallets. I can tell you from experience, to build a real user community, everything must work when it is released. The members of this forum may accept a period of stuff not working (perhaps because they are blinded by the hype), the user community, who are not familiar with cryptos will not.