Monday, January 6, 2014

The Alt-Coin Graveyard: Meet the walking dead

The number of Alt-Coins is increasing rapidly with the start of the new year. Little did we know that so many developer's had made a firm resolve to launch an alt-coin of their own in 2014. So we respond to the death of an alt-coin or two with some relief and fortified belief in crypto-investors to do the right thing. Our first casualty is DimeCoin. With a target of 460 billion coins and 8% premined, one doesn't have to dig too deep to ascertain the reasoning behind the coins demise. The alt-coin forums are littered with DimeCoin give aways. We don't envy the person tasked with distributing 36 Billion premined coins to the public. 

DimeCoin roams the alt-coin graveyard, managing to scrape by a trade or two from someone betting the coin will bounce. We do advise against such behavior; regardless we don't anticipate DimeCoin escaping the graveyard anytime soon. We cannot mention DimeCoin in such negative light without recognizing and voicing our appreciation of the developer's apology to the public, however brief it may be, it is a rare event indeed. Our intentions are not to criticize or chastise the developer. Instead we hope it serves as a lesson to anyone who still entertains a desire to create yet another copy-paste alt-coin.

Next up, CageCoin. The demise of this coin should not come as a surprise to anyone. Perhaps it portends a similar outcome for the yet to be released Coinye Coin? We certainly hope so. CageCoin has a target of 100 billion coins and a 0.75% premine. The meme coin may have provided some profit to a few early comers but there are quite a few left holding the bag with not a single buyer in sight:

Rest in peace CageCoin, and best of health to the real Mr. Cage. As always, we advice you not feed the zombie coins in the graveyard, please let them rest in peace

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