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Making money on Altcoins (Cryptocurrencies)

by proxygen
6 replies
Does anyone of you has any experience in making money out of cryptocurrencies Cryptocurrency - Wikipedia, the free encyclopedia? A cryptocurrency is a peer-to-peer, decentralized, digital currency whose implementation relies on the principles of cryptography to validate the transactions and generation of the currency itself.

Found this one on bitcointalks.org:
In early December 2013, I visited for the first time bitcointalk forum and reddit. Out of curiosity I checked alternate cryptocurrencies thread and found a notification about the release of the new cryptocurrency called Dogecoin (https://bitcointalk.org/index.php?topic=361813.0). Although the name was strange (still do not know how to pronounce it lol), and the official logo resembled a dog, I decided to dig up some coins. Because the computing power of my laptop was low, I decided to look for an alternative. Through trial and error, I finally figured how to increase my hashrate by using cloud servers. After 3 days of mining I collected over 6 000 000 dogecoins. What now? How and whether at all will I be able to monetize it? Because at that time I had more questions than answers, I decided to encrypt my wallet and forget about it for a few months. On 20th of January I read on reddit about enthusiastic fundraisers that have raised more than 26m in Dogecoin, a joke alternative currency, which could help propel the Jamaican bobsleigh team to the 2014 Winter Olympics. Within the next few days I registered on cryptsy.com and bter.com and traded all my dogecoins to bitcoins so I can exchange it to cash. No magic. Simple as that. By repeating this process for all new scrypt based cryptocurrencies (mining the largest possible number of coins in the initial phase of its existence), you can easily and quickly make money. Using this technique I earned more than $10000 in 6 weeks by investing $20 and 3 hours of my free time.
Source: 6 simple steps to get rich quick with Altcoins

By looking on dogecoin price chart at cryptsy it seems that there is a lot of money in circulation. What are your thoughts on this?
#altcoins #cryptocurrencies #making #money
  • Profile picture of the author lotsofsnow
    Yes, I have been reading up on crypto currencies recently and it looks like a rather fascinating topic.

    There are ways to make money with those crypto coins.

    One way for example is to write and get paid with devcoins.

    Then there are the "usual" ways like mining coins and trading crypto coins.
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    • Profile picture of the author AffiliateWaves
      Now i only concentrate on real coins ,no crypto coins .I worked hard in Virtapay and earned around 8K but never used them .
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  • Profile picture of the author proxygen
    @hpgoodboy:
    Never heard about Devcoin thanks!
    Devcoin is the coin where 90% of the generation goes to open source developers and 10% to the miners.
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  • Profile picture of the author wilmer2004
    commands are not working,kindly update
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  • Profile picture of the author sakuzki
    Just wondering how popular are those cryptocurrencies? i know about bitcoin but devcoins for example? i've never heard it before now.
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  • Profile picture of the author BitcoinCorporationNet
    It's good to see less hating on Bitcoin and cryptocurrencies in general here.

    Hey, if you don't have the know-how or desire to trade or the resources to mine, consider investing small amounts to start with companies that pay you to use your money to do it.

    BitcoinCorporation.Net
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