Sorry if I've missed this same comment somewhere in the 140+ pages of comments in this thread but here's my position on why I think there is some value in alt-coins.. Despite the fact that it appears value vs BTC has been steadily declining over the past few weeks.
a) In case of hard fork on BTC people will need to get into other currencies.. i think all will rise dramatically in that case, but i could be proven wrong.
b) In case of BTC block chain being heavily monitored and mapped to people by big brother, or worst case banned alt coins may survive.
For now I just mine the most profitable (per cryptsy) day by day and convert most of them immediately to btc but i think there might be a place for them to stay in the future.
Regarding shit coins, it's actually profitable to mine them. What you think about them does not make a rats ass of difference
If
BTC sneezes , the alt freeze to death.
If the
BTC chain will fork , bitcoin might survive , the others will be fu*rked for eternity.
Interesting take, why will the others be fu*rked into oblivion? I would think people might flock to an alternative...?? Also, are you suggesting that now that bitcoin is rebounding from it's recent correction, the alts will make a turn back to the upside? Maybe we have to see a new high in
BTC?
is not just a currency.
Bitcoin is seen by many as the one crypto.
Whatever bad might happen to bitcoin , even a 51% attack , I can bet that even POS coins which are immune to this will be affected.
In a way , Bitcoin is just a brand of cars like VW , but if it collapse it will make all people lose faith in the auto industry.
And the domino effect will bring ruin to most of the alt that have spawn in this madness.
As for the
BTC price , I never did and I will never do any predictions long term.
Just short terms ones when a major news hits the scene.
