The difference between altcoins vs bitcoin is the fact that bitcoin talks about just one coin whereas when you say altcoin you are talking about sooooo many different coins and projects.
When people say "bitcoin is the only thing that can succeed" they are saying that because bitcoin will always be there, many of us (probably almost all) believe that bitcoin will not be taken away from first spot and it will always be awesome, that is something not really troubling and it could be that way and that's fine.
The problem with talking about altcoins however is that ETH is an altcoin if you look at it that way, Litecoin is an altcoin, Dash is an altcoin but also that horrible new project that is trying to scam people by trying to put all the buzzwords in it is also an altcoin, we can't just compare them all to each other but we name them all altcoins.
Topic: Altcoin still feasible? Profit or loss? (Read 664 times)
The only alt coins I see as superior possibly are where the base idea for utility and efficiency on that blockchain could exceed Bitcoin maybe, all this talk of alt coins is like swear words to a large part of the forum who think only BTC can ultimately succeed as it is the most secure and so superior blockchain. However innovation is what Im looking for, I still think proof of stake could outperform for the common people where as the largest operators in crypto dont need this but I think it favors the smallest elements and so stays true to the original basis for BTC which it bits not billions
people aren't saying bitcoin is the only thing that can succeed, they are saying that others aren't trying to succeed. instead when you look at altcoins you can clearly see that their goal is to get the biggest pump and dumps and make the most amount of money from it.the reason why everyone hates ETH so much is because of its numerous issues. for starters it is centralized and mutable. two fundamental characteristics of a successful project simply doesn't exist in this altcoin. the only innovation that it had was the idea of smart contracts that are more advanced that what bitcoin (the currency) allows. but that idea was executed very poorly on a buggy platform. and that's just the tip of the iceberg.
as for PoS that you mentioned here, it is a very poor algorithm for a cryptocurrency. it has lots of attack vectors and adds certain weaknesses to a cryptocurrency that it automatically guarantees its lack of security.
Obviously telling people that they should not sell and wait is a great advice, however we also should not ignore the fact that when you buy and hold, you are missing out on trading opportunities that could have yielded you more profits, which you can do or you may ignore but it is there that you are missing and it is a fact.
If you are uncertain about your own trading capabilities, you could just focus on making profit via holding as long as you can, if you can buy btc/eth and similar good high level respected coins and hold them for 10 years, you are going to profit beyond your wildest dreams, it would probably make 100x in 10 years, and nothing else in the world could make you rich like that. However if you think you can trade well, you should probably just focus on buying and selling which could yield you more profit.
If you are uncertain about your own trading capabilities, you could just focus on making profit via holding as long as you can, if you can buy btc/eth and similar good high level respected coins and hold them for 10 years, you are going to profit beyond your wildest dreams, it would probably make 100x in 10 years, and nothing else in the world could make you rich like that. However if you think you can trade well, you should probably just focus on buying and selling which could yield you more profit.
Quote
For 3 weeks in March 2017, BTC fell from $1,360 to $890. That's a 35% decline! During that same exact time period, ETH rose from $16 to $59, a rise of 270%. Get it now?
Good info yea thats happened more then once with alt coin expansion but especially ETH had a big turn around because it had greater potential then many realized also it was returning from a horribly bearish event with the split into ETC so the swing in sentiment was massive that year for ETH maybe even greater then BTC itself. I wish I had realized all that at the time, I would have mined it alot more.
The only alt coins I see as superior possibly are where the base idea for utility and efficiency on that blockchain could exceed Bitcoin maybe, all this talk of alt coins is like swear words to a large part of the forum who think only BTC can ultimately succeed as it is the most secure and so superior blockchain. However innovation is what Im looking for, I still think proof of stake could outperform for the common people where as the largest operators in crypto dont need this but I think it favors the smallest elements and so stays true to the original basis for BTC which it bits not billions. We're into fundamentals here but the volatility and swings on alt coins is very often far greater then mainstream BTC and so trading profits are far larger but its with much larger noise and risk.
If I would think in a negative perceptions, that's a human reactions to feel bad while altcoins didn't soar higher. Seeing only bitcoin grows rapidly within a week of price changes. Hopefully, we will acquire great value for our old sleeping holdings. Patience is a long journey for all of us, and I couldn't afford to wait for another five years to see my altcoins collection to establish a profitable value.
I agree with most on here. It's necessary stick with good coins with real use case, stick mostly bitcoin, next holding should be eth, vechain, neo etc. Stick 80% into bitcoin, then a minor allocation to your choice of alts as it won't soar up as like bitcoin do. I would look for that dynamic to reverse when BTC has a major mid-term price correction, similar to March 2017. That's when the Ethereum/token bubble really went nuts.
How did BTC have a mid-term price correction in March 2017? From March 2017 on BTC really went crazy (as did alts).
For 3 weeks in March 2017, BTC fell from $1,360 to $890. That's a 35% decline! During that same exact time period, ETH rose from $16 to $59, a rise of 270%. Get it now?
I'm not saying BTC entered a bear market in March 2017. I'm saying it was a major price correction during a larger bubble, and that during such a bubble, BTCUSD corrections can actually constitute times when altcoins rally. In fact when you see that, that would be a clear sign that a bubble is occurring and much more upside is coming for both types of assets.
Thanks a lot! This makes sense!
I am hoping for something to happen soon again. The time would be right - Ethereum, let alone other altcoins, are cheap right now and I think institutional investors can meanwhile sell their BTC with huge profits.
I would look for that dynamic to reverse when BTC has a major mid-term price correction, similar to March 2017. That's when the Ethereum/token bubble really went nuts.
How did BTC have a mid-term price correction in March 2017? From March 2017 on BTC really went crazy (as did alts).
For 3 weeks in March 2017, BTC fell from $1,360 to $890. That's a 35% decline! During that same exact time period, ETH rose from $16 to $59, a rise of 270%. Get it now?
I'm not saying BTC entered a bear market in March 2017. I'm saying it was a major price correction during a larger bubble, and that during such a bubble, BTCUSD corrections can actually constitute times when altcoins rally. In fact when you see that, that would be a clear sign that a bubble is occurring and much more upside is coming for both types of assets.
I would look for that dynamic to reverse when BTC has a major mid-term price correction, similar to March 2017. That's when the Ethereum/token bubble really went nuts.
How did BTC have a mid-term price correction in March 2017? From March 2017 on BTC really went crazy (as did alts).
If we look deeply into other alternative coins, they have outperformed BTC as most of them have more than 5X from the beginning of this year up to this moment. We mostly conclude on the performance of BTC when alts are getting crushed without looking at the past record.
I know the doubts you imagine, but currently the Bitcoin market is showing a bullish performance,
it's a shame if you don't collect altcoins, profit or loss? of course profit, you have to be patient and enjoy it
Got you, man.it's a shame if you don't collect altcoins, profit or loss? of course profit, you have to be patient and enjoy it
Impatient people won't make things work easily for them but leaving doubts and losses. Altcoins investment is worth trying and really profiting if you were also choosing potential coins. Buying it now since the price is cheap is a good idea but wondering why people are still asking if it is good to buy or not? Definitely, a reason why this comes into their mind is that they are not really sure what they are doing and what they gonna do after buying cryptos. The purpose of investing is to gain profit and that be claimed if we can able to wait for the time that we see it.
and they might really getting some consideration and making up decisions afterwards.
We cant really deny that altcoin might be shit but there are still probabilities that this one will give out some good profits into you.It depends on the selection
of the coins because not all will really be having that potential.
I know the doubts you imagine, but currently the Bitcoin market is showing a bullish performance,
it's a shame if you don't collect altcoins, profit or loss? of course profit, you have to be patient and enjoy it
Got you, man.it's a shame if you don't collect altcoins, profit or loss? of course profit, you have to be patient and enjoy it
Impatient people won't make things work easily for them but leaving doubts and losses. Altcoins investment is worth trying and really profiting if you were also choosing potential coins. Buying it now since the price is cheap is a good idea but wondering why people are still asking if it is good to buy or not? Definitely, a reason why this comes into their mind is that they are not really sure what they are doing and what they gonna do after buying cryptos. The purpose of investing is to gain profit and that be claimed if we are able to wait for the time that we see it.
Conclusion? It cant be drawn into this kind of market because alts can either shoot up or not and it will be all in random thats why there are still people whom do risk or gamble out with those low cap coin
believing that they can still make big profits with it when those coins will be pumped one day.For top altcoins then theres no doubt that it will most likely be tagged along with bitcoins price movement.
So its a matter of choice if you do deal with it because majority been telling that shitcoins doesnt have a chance but there are still who do look for these things to be as treasure yet once
you hit up then you might really be ending up with enormous amounts of profits.We can still see nowadays into those low cap coins that had been pumped.
It is not really "random" as it would require at least some information on why they are increasing. But usually that reason is not something substantial and we do not have anything to back that data so we call it random. For example this time around, when bitcoin went up and the price of altcoins went down, it was due to people seeing how bitcoin is going up and they left their altcoin positions to go ride the wave bitcoin was on, that way they could have made more profit.believing that they can still make big profits with it when those coins will be pumped one day.For top altcoins then theres no doubt that it will most likely be tagged along with bitcoins price movement.
So its a matter of choice if you do deal with it because majority been telling that shitcoins doesnt have a chance but there are still who do look for these things to be as treasure yet once
you hit up then you might really be ending up with enormous amounts of profits.We can still see nowadays into those low cap coins that had been pumped.
Do I have any data to back this up? I do not really, but if you check how much alts were sold and how much bitcoin was cashed out, you will see that there were tons of alts sold versus less bitcoin sold which means some money that went from alts to btc stayed in btc. Same goes for reverse when alts were going up and how they were bought but not sold.
From couple of weeks we have seen a good percentage of growth when it comes to bitcoin but still it has not made any huge impact over altcoin prices which was not the case earlier, some of us including myself started thinking altcoins have lost its charm and eventually end up as shitcoins except top altcoins. Guess what, I was wrong just like whole bunch of people who assumed it because if we go back and look at last 20 month's performance of altcoins and bitcoin both have performed really well but we are just short sighted who once looks for few week's data and concludes our research.
I feel altcoins are just waiting to break out and reach the peak in short span of time, what's your view? Kindly share your opinions.
I feel altcoins are just waiting to break out and reach the peak in short span of time, what's your view? Kindly share your opinions.
In my opinion, altseason has already happened and some alts have made a huge profit! Now it's time for bitcoin! And the altscoins are now even cheaper than were before altseason! I started buying some coins... In the future scenario is sure to repeat itself!
I know the doubts you imagine, but currently the Bitcoin market is showing a bullish performance,
it's a shame if you don't collect altcoins, profit or loss? of course profit, you have to be patient and enjoy it
it's a shame if you don't collect altcoins, profit or loss? of course profit, you have to be patient and enjoy it
If I would think in a negative perceptions, that's a human reactions to feel bad while altcoins didn't soar higher. Seeing only bitcoin grows rapidly within a week of price changes. Hopefully, we will acquire great value for our old sleeping holdings. Patience is a long journey for all of us, and I couldn't afford to wait for another five years to see my altcoins collection to establish a profitable value.
Actually altcoins are also doing good but not in terms of ratio with bitcoins. I mean if an altcoin was 10 USD earlier it would be 10 or maybe even higher in USD but when you compare it's value with Bitcoins the coin will look like it dropped in value because when Bitcoins jumped up not every coin was able to follow it up with that.A lot of traders are trading Bitcoins now because the market is experiencing a bull run and when there is a stable market or slight bear run in Bitcoins then people switch to altcoins because that is the best time to buy them.
We can not expect much from altcoins during this occasion. We are in one of the biggest crises, the Presidential election is being held and many people are losing their job. The economy, although, is recovering quite fast, people only consider safe assets such as gold or bitcoin to invest or at least hold for something special. Altcoins will soon have their performance, but this is not a good time for them.
But, to be frank the impact of the fiat economy has minimal impact on the prices of cryptocurrency as you might have seen how Bitcoin is moving which clearly indicates that the crypto market is not dependent completely on the economy of a particular country or even as a whole of them because if that was the case Bitcoins would have finished in March when the price dropped along with the pandemic all around.I do agree that the current time is not the best time for altcoins but that is not because of the economy but because the bitcoin is doing so good that it is not worth investing into alts right now and if you are invest just do so in bitcoins.
If I would think in a negative perceptions, that's a human reactions to feel bad while altcoins didn't soar higher. Seeing only bitcoin grows rapidly within a week of price changes. Hopefully, we will acquire great value for our old sleeping holdings. Patience is a long journey for all of us, and I couldn't afford to wait for another five years to see my altcoins collection to establish a profitable value.
From couple of weeks we have seen a good percentage of growth when it comes to bitcoin but still it has not made any huge impact over altcoin prices which was not the case earlier, some of us including myself started thinking altcoins have lost its charm and eventually end up as shitcoins except top altcoins. Guess what, I was wrong just like whole bunch of people who assumed it because if we go back and look at last 20 month's performance of altcoins and bitcoin both have performed really well but we are just short sighted who once looks for few week's data and concludes our research.
I feel altcoins are just waiting to break out and reach the peak in short span of time, what's your view? Kindly share your opinions.
Conclusion? It cant be drawn into this kind of market because alts can either shoot up or not and it will be all in random thats why there are still people whom do risk or gamble out with those low cap coinI feel altcoins are just waiting to break out and reach the peak in short span of time, what's your view? Kindly share your opinions.
believing that they can still make big profits with it when those coins will be pumped one day.For top altcoins then theres no doubt that it will most likely be tagged along with bitcoins price movement.
So its a matter of choice if you do deal with it because majority been telling that shitcoins doesnt have a chance but there are still who do look for these things to be as treasure yet once
you hit up then you might really be ending up with enormous amounts of profits.We can still see nowadays into those low cap coins that had been pumped.
People seem to temporarily turn to BTC which is the safest coin, as the current defi trend has started to wane a little.
Even so, some of the major altoin have not been abandoned by their developers and still continue to develop the platform, Often I see among them giving pump surprises while bitcoin is not moving, especially when the good announcements that the community is waiting for have been published. This means that altcoins still have their hopes.
Only few altcoins from the past still do updates, make sure when invested in a coin follow their telegram to know whether they are still active and still working on their projects improvement and future plans. Some who are not in top list in coinmarketcap might still be doing something to keep their project even they are unnoticeable sometimes their legit supporters from the start will push them to continue since there are already too many alike projects in crypto space. I have many altcoins from the past which have no value now so I make to a point now to consider visiting their telegram to see whether they are trying unfortunately others already stop, so lesson learned always monitor or trade it while it have value. Even so, some of the major altoin have not been abandoned by their developers and still continue to develop the platform, Often I see among them giving pump surprises while bitcoin is not moving, especially when the good announcements that the community is waiting for have been published. This means that altcoins still have their hopes.
if you can find good altcoins that you can trust and could go big in the future they are definitely worth looking at but if you are going to risk your money you are not going to make a big difference and you are going to end up not making any decent profit neither, maybe few lucky ones. Hence altcoins are still feasible only if you invest into good ones.
Yeah, depends on what you want out of altcoins, if you want to make 10x returns you may find some (very few) but they would be very rare to aim at so it wouldn't make sense to get involved with altcoins to make that type of return. However if you want to just overshadow bitcoin returns and have an altcoin that could go higher than bitcoin goes, that could still happen.While bitcoin goes up 10%, some other altcoin could go up 20% and that is feasible and definitely possible as well. I do not see it happening right now, but it is definitely possible. So, put yourself a realistic approach and you will be happy about the results in the end. Obviously we do not really have any way of proving this, maybe I am very wrong about it but that is just what feasible means, not guaranteed but possible.
Jump to: