Alternate Cryptocurrencies Keep The Price Of Bitcoin Down

screwUdriver

full member

Activity: 346

Merit: 102

Quote from: Silverspoon on January 02, 2015, 08:13:19 AM

Quote from: screwUdriver on January 02, 2015, 01:38:00 AM

Looking at the market caps of some of these shitcoins, I am somewhat surprised as to how valuable they are. I am not entirely sure how they got so much money invested in them (there must be a lot of suckers out there)

Because ground-breaking, paradigm-shifting, black-swanning, point-tipping disruptive technologies, brah. As a bitcoin aficionado, you should understand

I really don't think any altcoins have done any of the above. All they have done is tinkered with the protocol of bitcoin in a minor way, primarily by changing the protocol that the altcoin is mined, the target block time, the total supply and the difficulty retarget time

crazyearner

legendary

Activity: 1820

Merit: 1001

Alt coins in a way keep prices down but in the same way BTC prices can also keep alt coin prices down so its a balance and 50/50 If something comes to light that theirs something more valuable than bitcoin and it can happen with an alt coin if they get it right then I would thing people would end up migrating to that coin and bitcoin taking a massive plummet down. BTC goes up generally others will go up based on % and market caps. Am sure that if a alt coin comes out and has a lot more to offer that Bitcoin does not and is done in the right way it will take off and surpass Bitcoin. Only a matter of time really to see this actually happen as theirs a lot of comperticition right now and wont take much at this growth for something perfect or better than Bitcoin to come along and knock it off the top.

Silverspoon

member

Activity: 112

Merit: 10

Quote from: screwUdriver on January 02, 2015, 01:38:00 AM

Looking at the market caps of some of these shitcoins, I am somewhat surprised as to how valuable they are. I am not entirely sure how they got so much money invested in them (there must be a lot of suckers out there)

Because ground-breaking, paradigm-shifting, black-swanning, point-tipping disruptive technologies, brah. As a bitcoin aficionado, you should understand

screwUdriver

full member

Activity: 346

Merit: 102

Quote from: byronbb on December 31, 2014, 04:59:38 PM

THe btc market cap vs the entire alt market cap is like an ocean to a puddle.

If you ignore ripple, the market cap of bitcoin is ~4.3 billion, the next two biggest crypto market caps are ~$600 million and ~$500 million respectively, after that the next biggest market cap is under $100 million and after that they continue to fall rapidly.

Looking at the market caps of some of these shitcoins, I am somewhat surprised as to how valuable they are. I am not entirely sure how they got so much money invested in them (there must be a lot of suckers out there)

http://coinmarketcap.com/currencies/views/market-cap-by-total-supply/

panju1

legendary

Activity: 1246

Merit: 1000

Do this simple calculation.
Assume all the market cap of alternate cryptocurrencies is transferred to Bitcoin.
What would Bitcoin's price be? Is it going to make a significant difference?

caga

full member

Activity: 238

Merit: 100

www.secondstrade.com - 190% return Binary option

Quote from: Zawamiya on December 31, 2014, 07:07:15 AM

i think yes
as new altcoin release people dump their BTC for those alts
and the pumper or founder of that coin dumps those BTC with their premine or low value purchase before pump

Well this would be true or valid, only if the founder sells the bitcoin .
In the case of Ethereum this was true.

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

THe btc market cap vs the entire alt market cap is like an ocean to a puddle.

jertsy

sr. member

Activity: 341

Merit: 250

Quote from: NUFCrichard on December 30, 2014, 04:06:31 AM

I think altcoins in general are a bit of a joke. There are a few that are innovative, but I think their future is relant on bitcoins success, not the other way round.

Most alts are bitcoin with a different name. Changing the name is the devs only innovation.

Silverspoon

member

Activity: 112

Merit: 10

Quote from: p1111 on December 29, 2014, 07:28:46 PM

Your thoughts?

The Jews did it Angry

Zawamiya

hero member

Activity: 526

Merit: 500

i think yes
as new altcoin release people dump their BTC for those alts
and the pumper or founder of that coin dumps those BTC with their premine or low value purchase before pump

a fool and his money ...

full member

Activity: 616

Merit: 103

it's the exact opposite:
bitcoin keeps the price of alts down

bornil267645

sr. member

Activity: 406

Merit: 250

AltoCenter.com

Alt currencies are the reason which keeps the people loyal to bitcoin.

GÜNther.Danish

full member

Activity: 122

Merit: 100

Quote from: MicroGuy on December 29, 2014, 08:41:44 PM

Quote from: p1111 on December 29, 2014, 07:28:46 PM

In my honest opinion alternate cryptocurrencies are a joke because a new cryptocurrency gets created every week.

There are new websites created each week, that does not make Google.com a joke.

The price of bitcoin is being held down due to ALL the attention being paid to the POS side (sell side) of integration.

Not until we see an equal amount of attention being paid to payroll integration (buy side) will the scales become balanced.

3000 -> 2000, bitcoin down
0.1 -> 0.01, altcoin balanced

lol

NUFCrichard

legendary

Activity: 1218

Merit: 1003

I think altcoins in general are a bit of a joke. There are a few that are innovative, but I think their future is relant on bitcoins success, not the other way round.

Magic8Ball

legendary

Activity: 1050

Merit: 1000

A lot of the investment in altcoins comes indirectly into Bitcoin, which helps to keep up the Bitcoin price.
Bitcoin price is dropping as the merchants accepting it does not hold it but convert to fiat immediately.

Pierre11

hero member

Activity: 502

Merit: 500

I think they would have helped.

If people see a new altcoin which they know will have a great price swing or they really want to pump it, they will invest fiat in the form of bitcoin into it.

At the end everything if there is anything left will be converted back to bitcoin..

caga

full member

Activity: 238

Merit: 100

www.secondstrade.com - 190% return Binary option

Quote from: p1111 on December 29, 2014, 07:28:46 PM

Your thoughts?

I think the inverse is true, that the price of altcoins depend on the price of bitcoins.

HeroCat

hero member

Activity: 658

Merit: 500

Do not think so, alternate cryptocurrencies are seperate markets, BTC market prices going up and down by BTC market itself Grin

MicroGuy

legendary

Activity: 2506

Merit: 1030

Twitter @realmicroguy

Quote from: p1111 on December 29, 2014, 07:28:46 PM

In my honest opinion alternate cryptocurrencies are a joke because a new cryptocurrency gets created every week.

There are new websites created each week, that does not make Google.com a joke.

The price of bitcoin is being held down due to ALL the attention being paid to the POS side (sell side) of integration.

Not until we see an equal amount of attention being paid to payroll integration (buy side) will the scales become balanced.

odolvlobo

legendary

Activity: 4522

Merit: 3426

Quote from: p1111 on December 29, 2014, 07:28:46 PM

In my honest opinion alternate cryptocurrencies are a joke because a new cryptocurrency gets created every week.

I mostly agree, but your statement has nothing to do with your topic.

Topic: Alternate Cryptocurrencies Keep The Price Of Bitcoin Down (Read 1587 times)