Alt Coin Thread (Vertcoin, OMG, CVC, PAY etc).

Blacktie.

Pussyhands wrote: »

So after my **** up of selling nano at 8 and buying vechain, I have the only two coins in the top 22 that are in the red.

I count 9 coins in the red in the top 22.

Pussyhands

Blacktie. wrote: »

I count 9 coins in the red in the top 22.

Was a couple hours ago when checked.

Dohnjoe

Pussyhands wrote: »

So after my **** up of selling nano at 8 and buying vechain, I have the only two coins in the top 22 that are in the red.

If you aren't a trader or experienced, then buying and selling in this market is largely luck (or ending up doing a lot of "chasing the dragon")

The best stacks I know (traders aside) are those who make a plan, buy and walk away. No panic selling. Only topping up during crashes.

Shamo

OmiseGO E-Wallet SDK Public Beta released on schedule today.

Tinder Surprise

really surprised BRD (BREAD) has not mooned seeing whats going on in Ireland :D

WhiteMemento9

What the hell is DigixDAO. First time even noticing it :P

dQuetour

I hope someone is currently being severely beaten around back of the Waltonchain building.

WhiteMemento9

dQuetour wrote: »

I hope someone is currently being severely beaten around back of the Waltonchain building.

Why, whats going on?

dQuetour

WhiteMemento9 wrote: »

Why, whats going on?

They got caught scamming a give away.

Someone "pretending" to be a winner posted from the official WTC twitter thanking and praising them.

Since then there's been radio silence, and they've been trying to ban all questions etc.

Idiots.

I'm a worse idiot for being all in WTC.

WhiteMemento9

Oh, I see over on the reddit forum. wtf, were they doing. Price already nosediving.

dQuetour

WhiteMemento9 wrote: »

Oh, I see over on the reddit forum. wtf, were they doing. Price already nosediving.

Yeah, the nose diving is partly intentional dumping then buying back lower.

WhiteMemento9

dQuetour wrote: »

Yeah, the nose diving is partly intentional dumping then buying back lower.

They might be able to blame it on some rouge guy but trust in the team behind a project is a big thing in crypto. That is a pretty terrible story. I'd be out if I was holding as you are probably getting the news quicker than most who will dump when they find out. Personal opinion though as I don't know much about the coin.

dQuetour

WhiteMemento9 wrote: »

They might be able to blame it on some rouge guy but trust in the team behind a project is a big thing in crypto. That is a pretty terrible story. I'd be out if I was holding as you are probably getting the news quicker than most who will dump when they find out. Personal opinion though as I don't know much about the coin.

Bought in at 27188, current price is 18459, I'd rather stick it in the deep freeze and forget about it than swallow the loss. Fairly effin salty about it all the same, such a stupid thing for them to do.

WhiteMemento9

dQuetour wrote: »

Bought in at 27188, current price is 18459, I'd rather stick it in the deep freeze and forget about it than swallow the loss. Fairly effin salty about it all the same, such a stupid thing for them to do.

Just because you sell now doesn't mean you can't buy back in lower and come out better off. Still you are in a better position than myself to analyse how things will play out so good luck.

BrokenArrows

dQuetour wrote: »

They got caught scamming a give away.

Someone "pretending" to be a winner posted from the official WTC twitter thanking and praising them.

Since then there's been radio silence, and they've been trying to ban all questions etc.

Idiots.

I'm a worse idiot for being all in WTC.

OMG it was so stupid its crazy. The prize pool was only 565 coins ($12000). Why would you try and scam this. It such a minor amount of money in the grand scheme of things.

Possibly it was just some staff member who won and posted by accident in the wrong account. But thats dodgy too.

EDIT

They have actually posted a response saying it was actually a member of staff that won and they provided a link to the selection script being run.

https://twitter.com/Waltonchain/status/969096271599316992

jobless

BrokenArrows wrote: »

OMG it was so stupid its crazy. The prize pool was only 565 coins ($12000). Why would you try and scam this. It such a minor amount of money in the grand scheme of things.

Possibly it was just some staff member who won and posted by accident in the wrong account. But thats dodgy too.

EDIT

They have actually posted a response saying it was actually a member of staff that won and they provided a link to the selection script being run.

https://twitter.com/Waltonchain/status/969096271599316992

another reminder of how crypto is like the wild west..... I see Charlie Lee is shilling nano now hes dumped all his litecoin

Benji20122012

Anyone see this tweet by crypto_Ed_Nl
https://twitter.com/Crypto_Ed_NL/status/969120732608331777

Crypto_Ed_NL‏
@Crypto_Ed_NL
Following Following @Crypto_Ed_NL
More
Reddit boys found something interesting in the Poloniex deal.
Strong indications Vechain, $VET might have a role in this.

WhiteMemento9

It feels like Christmas all over again only this time with snow. Everything in my bag is popping off today.

Chancer3001

Is there anybody holding minexcoin?

It's another one of these 'too good to be true surely' moments.

You buy coins. Keep em in your wallet and they pay you 15% interest every month to keep them there

So say you put in 10k fiat. You get 1500 per month ...

Friend of mine did that yesterday. Plans to pay off his mortgage for free this way.

Can't be as easy or obvious as this surely ??

Anyone tell me where the catch is.

jobless

Chancer3001 wrote: »

Is there anybody holding minexcoin?

It's another one of these 'too good to be true surely' moments.

You buy coins. Keep em in your wallet and they pay you 15% interest every month to keep them there

So say you put in 10k fiat. You get 1500 per month ...

Friend of mine did that yesterday. Plans to pay off his mortgage for free this way.

Can't be as easy or obvious as this surely ??

Anyone tell me where the catch is.

bitconeeeeeeeeeect!

celticcrash

Total scam...bitconnect, USI and others that we haven't heard off are all scams...it its too good to be true then..etc.

Tinder Surprise

Chancer3001 wrote: »

Is there anybody holding minexcoin?

It's another one of these 'too good to be true surely' moments.

You buy coins. Keep em in your wallet and they pay you 15% interest every month to keep them there

So say you put in 10k fiat. You get 1500 per month ...

Friend of mine did that yesterday. Plans to pay off his mortgage for free this way.

Can't be as easy or obvious as this surely ??

Anyone tell me where the catch is.

To stabilize the price MNX uses an autonomous intelligent algorithm called MinexBank. Along with different proven financial instruments, it uses “Parking” - a tool that offers every MNX holder to receive interest payment instead of selling or bringing MNX to the market. What is more, your parking funds remain in your wallet.

run as fast as you can and dont look back

BrokenArrows

Chancer3001 wrote: »

Is there anybody holding minexcoin?

It's another one of these 'too good to be true surely' moments.

You buy coins. Keep em in your wallet and they pay you 15% interest every month to keep them there

So say you put in 10k fiat. You get 1500 per month ...

Friend of mine did that yesterday. Plans to pay off his mortgage for free this way.

Can't be as easy or obvious as this surely ??

Anyone tell me where the catch is.

The catch is that it will work for the people who get early enough and you are assuming that the price of each coin remains the same or increases in value.

They might give him 15% extra coins but if the value of those coins decreases by 15% a month then hes not making any money is he!!

Eventually the price will crash and it wont matter if hes holding 500x his original coin count because it will be worthless.

grindle

Chancer3001 wrote: »

Friend of mine did that yesterday. Plans to pay off his mortgage for free this way.

Please beg your friend to exit crypto before he's destitute.

Chancer3001

I See you guys saying run run run and that's totally fair.

But give me some reasons as to why. Rather than just saying get out

I told him the one about the crash in price would make his coins meaningless.

Apart from that ?

Blacktie.

Chancer3001 wrote: »

I See you guys saying run run run and that's totally fair.

But give me some reasons as to why. Rather than just saying get out

I told him the one about the crash in price would make his coins meaningless.

Apart from that ?

Common sense comes to mind.

Honestly how could this possibly be sustainable if the price was maintained or rose with an ever increasing supply. The more of your currency you print the more you're deflating it.

BrokenArrows

As the previous poster said, its just common sense.

The only reason anyone can just hand out free money is if they are making money. Because schemes like this dont make any money directly makes it obvious its a scam.

They are creating two things which drive up the price.
1. Low supply - By encouraging people to hold onto the coins to get 15% and not trade them.
2. High demand - By offering crazy high returns.

If you look into them (i havent) it probably shows that the creaters own a huge amount of coins which to be fair isnt uncommon in crypto.

So eventually when they decide the price is right they will dump their coins, make a killing and the price crashes to zero because there is now plenty of supply and because there is plenty of supply there is low demand.

Or on the other hand even if they dont dump their coins they are flooding the market with new coins every month which will ultimately cause the value of decline anyway.

It might be tomorrow, it might be 6 months or it might be a few years. You just never know, but it will crash or become worthless.

Now if your friend understands that his initial investment of 10k fiat is essentially gone but he is willing to gamble that the scheme will payout for long enough that he gets 10k back then thats his decision.

He just has to realise that he might lose that 10k tomorrow just as easily.

Chancer3001

Blacktie. wrote: »

Common sense comes to mind.

Honestly how could this possibly be sustainable if the price was maintained or rose with an ever increasing supply. The more of your currency you print the more you're deflating it.

Yeah, my thoughts were that it's too good to be true. Giving free coins forever more, seems unsustainable.

His argument was that free coins are a given in crypto land.

From airdrops, to forks, to just mining the free coins. Free coins they just give away are the norm now.

Blacktie.

Chancer3001 wrote: »

From airdrops, to forks, to just mining the free coins. Free coins they just give away are the norm now.

Which are all one time occurrences and aren't 15%. That's a huge amount!

BrokenArrows

Chancer3001 wrote: »

Yeah, my thoughts were that it's too good to be true. Giving free coins forever more, seems unsustainable.

His argument was that free coins are a given in crypto land.

From airdrops, to forks, to just mining the free coins. Free coins they just give away are the norm now.

Airdrops - Are usually once off amounts and usually very small amounts. The majority of them become worthless or were never worth anything to begin with.

Forks - Forks can be hit and miss. Some succeed, some become worthless but its usually not just free. The original asset usually takes a price hit when this happens.

Mining is far from free, and miners are not getting free coins. They are being paid for performing a service. Usually their mining tasks are to validate transactions. Without the miners people wouldnt be able to pay each other anything.