Yeah, this is looking like the kind of capitulation you see before the bounce. A dead-cat bounce, at least.
capitulation in btc was 6 months ago ... no idea what this currently is ...
Much higher than the 2013 average.
Topic: Altcoins are a mess, but Bitcoin looks vulnerable to being dethroned (Read 1425 times)
January 04, 2015, 12:11:11 PM
Yeah, this is looking like the kind of capitulation you see before the bounce. A dead-cat bounce, at least.
capitulation in btc was 6 months ago ... no idea what this currently is ...
Much higher than the 2013 average.
January 04, 2015, 12:09:29 PM
Yeah, this is looking like the kind of capitulation you see before the bounce. A dead-cat bounce, at least.
capitulation in btc was 6 months ago ... no idea what this currently is ...
January 04, 2015, 12:08:14 PM
Shame altcoins have been a mess. Hopefully this scene cleans up its act in 2015. It's time for a viable alternative to bitcoin.
+1000
January 04, 2015, 12:00:19 PM
it's reaching new low which also means trend reversal soon but I can't confirm it on the chart YET
There is nothing wrong with Bitcoin. Everyone focuses on the 2 week fake peak created by mtgox bots in 2013 , but the avg for that year was actually ~180 which bitcoin is way above still.
Bitcoin is stronger than ever with new user adoption, merchant adoption, development, usage, and venture capital investments.
The halving happens in 2016... expect the market to move ahead late 2015 , early 2016 with another deflationary bubble.
Smart investors know to buy low, and not wait till everyone starts piling in at the last minute.
January 04, 2015, 11:43:41 AM
Bitcoin has its purpose. It's almost impossible to get your hands on altcoins if BTC isn't there because it's sole purpose is to convert itself to fiat and vice versa. I don't think anything can take its place unless we get something as well adopted as BTC but I'm pretty sure we are years away from it.
That's true, in which case BTC's decline is doubly troubling - it's the latest sign people may be souring on the entire crypto thing. In any case, system clearly needs a compelling user-friendly killer app.
it's reaching new low which also means trend reversal soon but I can't confirm it on the chart YET
Yeah, this is looking like the kind of capitulation you see before the bounce. A dead-cat bounce, at least.
January 04, 2015, 11:41:58 AM
Bitcoin has its purpose. It's almost impossible to get your hands on altcoins if BTC isn't there because it's sole purpose is to convert itself to fiat and vice versa. I don't think anything can take its place unless we get something as well adopted as BTC but I'm pretty sure we are years away from it.
That's true, in which case BTC's decline is doubly troubling - it's the latest sign people may be souring on the entire crypto thing. In any case, system clearly needs a compelling user-friendly killer app.
it's reaching new low which also means trend reversal soon but I can't confirm it on the chart YET
January 04, 2015, 11:33:14 AM
Are there any solid estimates on just what btc's (active) user base really is?
There is no way to know for sure, but I and many of my freinds buy things all the time with bitcoin, receive payments in bitcoin and pay employees in bitcoin.
Bitpay and coinbase are growing in transactions month after month as well.
http://blog.bitpay.com/2014/12/09/bitcoin-black-friday-2014-recap.html
This year we saw an 82% increase in the number of merchants who completed transactions compared to last year’s BBF.
Every alt out their is almost entirely being used as a risky speculative investment , unlike bitcoin which is now a mix.
January 04, 2015, 11:25:08 AM
Bitcoin only has around 500k to 1m users, that's very poor for a 6 years time scale.
This is blatantly false.
Coinbase follows KYC and thus most of these wallets are unique:
19 Countries Fully Supported
2,100,000 Consumer Wallets
38,000 Merchants
They represent a fraction of the bitcoin economy because the chinese have invested more than the US and few of them use coinbase.
Additionally, there are many new people who have accepted changetips from strangers and thus are holding onto bitcoin within changetip or elsewhere.
Conservatively, there are at least 5-8 million people who own bitcoin.
Despite, Bitcoin decreasing in value relative to fiat, even the strongest alts like Nxt and Bitshares have fared worse and have been weakening against bitcoin. The original claims lack merit.
Are there any solid estimates on just what btc's (active) user base really is? One thing's certain, the demand for bitcoin is lagging behind supply, or the price wouldn't be falling as it has for the past year.
January 04, 2015, 11:22:54 AM
pow is failing for btc and ltc (too much sell pressure), wont be long till they are fully monopolized. I think PoS will play a big part in 2015
Is it settled that POS is a viable, secure alternative. Isn't their talk about POS being the reason Mintpal was vulnerable to having its VRC stash hacked?
January 04, 2015, 11:21:46 AM
Bitcoin has its purpose. It's almost impossible to get your hands on altcoins if BTC isn't there because it's sole purpose is to convert itself to fiat and vice versa. I don't think anything can take its place unless we get something as well adopted as BTC but I'm pretty sure we are years away from it.
That's true, in which case BTC's decline is doubly troubling - it's the latest sign people may be souring on the entire crypto thing. In any case, system clearly needs a compelling user-friendly killer app.
January 04, 2015, 11:17:02 AM
Bitcoin only has around 500k to 1m users, that's very poor for a 6 years time scale.
Conservatively, there are at least 5-8 million people who own bitcoin.Probably 80% inactive users, bitcoins has a very poor accessibility. It's very hard or even impossible for the average person to get access to, it's even harder to do this with altcoins. 5 million is nothing compared to a semi successful app which are very easy to get access to, a revolutionary appcoin with great marketing and devs with some deep pockets can overthrow bitcoins nr 1 position in user base.
+1
Shame altcoins have been a mess. Hopefully this scene cleans up its act in 2015. It's time for a viable alternative to bitcoin.
January 04, 2015, 11:06:42 AM
a revolutionary appcoin with great marketing and devs with some deep pockets can overthrow bitcoins nr 1 position in user base.
Its already being tested with paycoin2, revolutionary extension, hyperflex technology , millions of dollars in marketing and investment, PoS with no PoW overhead , ect...
How is that working out?
pay coin is a scam nobody cares
January 04, 2015, 10:49:27 AM
a revolutionary appcoin with great marketing and devs with some deep pockets can overthrow bitcoins nr 1 position in user base.
Its already being tested with paycoin2, revolutionary extension, hyperflex technology , millions of dollars in marketing and investment, PoS with no PoW overhead , ect...
How is that working out?
Any new feature that your appcoin can come up with can be implemented in bitcoin or a bitcoin sidechain easily. http://www.blockstream.com/
There is some incredible innovation happening within bitcoin which is happening all the time that users just fail to see because they are so wrapped up in their own altcoin project or
they prefer to get in at the ground floor on some new blockchain because they missed the opportunity with bitcoin.
that's very true. Why own 1 Bitcoin when I can own 50,000 altcoin that have so much room to grow.
January 04, 2015, 10:46:47 AM
a revolutionary appcoin with great marketing and devs with some deep pockets can overthrow bitcoins nr 1 position in user base.
Its already being tested with paycoin2, revolutionary extension, hyperflex technology , millions of dollars in marketing and investment, PoS with no PoW overhead , ect...
How is that working out?
Any new feature that your appcoin can come up with can be implemented in bitcoin or a bitcoin sidechain easily. http://www.blockstream.com/
There is some incredible innovation happening within bitcoin which is happening all the time that users just fail to see because they are so wrapped up in their own altcoin project or
they prefer to get in at the ground floor on some new blockchain because they missed the opportunity with bitcoin.
Even innovative currencies that I respect like ethereum will have an uphill battle because they will be competing with oracles , sidechains and stacks that depend upon Bitcoin like counter-party.
January 04, 2015, 10:42:19 AM
Bitcoin has its purpose. It's almost impossible to get your hands on altcoins if BTC isn't there because it's sole purpose is to convert itself to fiat and vice versa. I don't think anything can take its place unless we get something as well adopted as BTC but I'm pretty sure we are years away from it.
Thats so wrong i can't stop laughing. There are altcoin which you can buy with Fiat money.
it's not easy I've tried. You always end up paying more than market price because of volatility. For example: Coinbase. I have yet to find a website similar to coinbase for any other altcoin. If you know any let me know.
Paybase is one of them but that was just introduced few days ago and they have yet to add debit card
January 04, 2015, 10:35:35 AM
Bitcoin only has around 500k to 1m users, that's very poor for a 6 years time scale.
Conservatively, there are at least 5-8 million people who own bitcoin.Probably 80% inactive users, bitcoins has a very poor accessibility. It's very hard or even impossible for the average person to get access to, it's even harder to do this with altcoins. 5 million is nothing compared to a semi successful app which are very easy to get access to, a revolutionary appcoin with great marketing and devs with some deep pockets can overthrow bitcoins nr 1 position in user base.
January 04, 2015, 10:34:28 AM
it's a good time to use ripple and convert some btc to usd then store it in your ripple wallet. nubits is also good, as both options make it easy to convert back to crypto.
January 04, 2015, 10:25:10 AM
i think i launched my thread about it 2 minutes after you opened this one 
The solution is: Unobtanium
https://bitcointalksearch.org/topic/what-is-no2-sha256-network-after-bitcoin-913751
pow doesn't fail - high inflation/constant bleeding fails
needs faster halving - 4 years is way, way too long
The solution is: Unobtanium
https://bitcointalksearch.org/topic/what-is-no2-sha256-network-after-bitcoin-913751
pow is failing for btc and ltc (too much sell pressure), wont be long till they are fully monopolized. I think PoS will play a big part in 2015
pow doesn't fail - high inflation/constant bleeding fails
needs faster halving - 4 years is way, way too long
January 04, 2015, 10:18:11 AM
pow is failing for btc and ltc (too much sell pressure), wont be long till they are fully monopolized. I think PoS will play a big part in 2015
ASCI's for the win ! Ye but who is going to pay for the miners ? Well investors of course.
January 04, 2015, 10:17:28 AM
Bitcoin only has around 500k to 1m users, that's very poor for a 6 years time scale.
This is blatantly false.
Coinbase follows KYC and thus most of these wallets are unique:
19 Countries Fully Supported
2,100,000 Consumer Wallets
38,000 Merchants
They represent a fraction of the bitcoin economy because the chinese have invested more than the US and few of them use coinbase.
Additionally, there are many new people who have accepted changetips from strangers and thus are holding onto bitcoin within changetip or elsewhere.
Conservatively, there are at least 5-8 million people who own bitcoin.
Despite, Bitcoin decreasing in value relative to fiat, even the strongest alts like Nxt and Bitshares have fared worse and have been weakening against bitcoin. The original claims lack merit.
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