As Bitcoin crashes to the abyss altcoins will become independant in price - page 2.

relm9

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Quote from: homo homini lupus on January 29, 2015, 06:19:59 PM

thinking altcoins would have no independant value could turn out to be a really bad misconception

https://bitcointalksearch.org/topic/ltcbtc-hellatrojanepicmegagreendildotastic-in-24-hours-940537

I don't know about you but i'm buying Litecoin right now ... it's faster than Bitcoin too!

Some alts may not be as hard hit from a further drop in BTC price, but I am 99% sure Litecoin won't be one of them, good luck though.

homo homini lupus

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I could even imagine Bitcoin briefly rising in price in this scenario before crashing hard. Average Joe will demand Dogecoin and other coins especially because he's not an early adopter of BTC. So there is also that psychological and rational aspect besides the technical aspect and the broken hype aspect.

Bernard Lerring

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True. If BTC fails and there's a demand for alts then more websites allowing exchange of fiat straight to alts will exist. Supply and demand.

homo homini lupus

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Quote from: flipstyle on January 29, 2015, 06:25:21 PM

Quote from: chaoman on January 29, 2015, 06:16:21 PM

alt coins are priced based on btc. say a doge is worth 60 satoshi, if btc goes really low are you saying 1 doge = 1 btc? that would be impossible because only 21 mil btc.

Ah, some sense!

Now...since btc is based on the dollar, what happens in the bitcoiner's wet dream scenario where the dollar completely crumbles. Considering there's only 20 million bitcoin and several billion people in the world.

You are thinking in your bitcoin box that's why you will be taken by surprise Grin

Nothing stops $$$ from going into alts with the use of btc or with direct fiat exchange. So the number of BTC or its marketcap is irrelevant in this.

Man, soon i'll charge you for my posts.

Bitcoin is an antique coin with bad fundamentals. It really can't compete with the alts after the broken promises. The lid will be blown off. Even Litecoin has more utility and is more advanced than BTC.

To see clear all you need to do is shrug off the Bitcoin-hype.

flipstyle

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Quote from: chaoman on January 29, 2015, 06:16:21 PM

alt coins are priced based on btc. say a doge is worth 60 satoshi, if btc goes really low are you saying 1 doge = 1 btc? that would be impossible because only 21 mil btc.

Ah, some sense!

Now...since btc is based on the dollar, what happens in the bitcoiner's wet dream scenario where the dollar completely crumbles. Considering there's only 20 million bitcoin and several billion people in the world.

homo homini lupus

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Bernard Lerring

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That was partly why I replied to chaoman. You can't say that alts will always be seen as relative to BTC. It doesn't make sense. There are lots of other variables. Look at PoS coins. They often aren't as affected by BTC ups and downs.

homo homini lupus

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Quote from: relm9 on January 29, 2015, 05:58:46 PM

I see no reason for this to happen, expect a lot of alts to go down to near-zero if Bitcoin drops that low.

Quote from: chaoman on January 29, 2015, 06:16:21 PM

alt coins are priced based on btc. say a doge is worth 60 satoshi, if btc goes really low are you saying 1 doge = 1 btc? that would be impossible because only 21 mil btc.

thinking altcoins would have no independant value could turn out to be a really bad misconception

https://bitcointalksearch.org/topic/ltcbtc-hellatrojanepicmegagreendildotastic-in-24-hours-940537

I don't know about you but i'm buying Litecoin right now ... it's faster than Bitcoin too!

gentlemand

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Welt Am Draht

If a non BTC coin starts to really go places, I think it'll be born a long, long way away from this forum.

A true alternative would have zero relation to BTC.

Bernard Lerring

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So why do you get altcoin charts, with them moving in respect to BTC?

chaoman

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alt coins are priced based on btc. say a doge is worth 60 satoshi, if btc goes really low are you saying 1 doge = 1 btc? that would be impossible because only 21 mil btc.

relm9

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I see no reason for this to happen, expect a lot of alts to go down to near-zero if Bitcoin drops that low.

Bit_Happy

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A Great Time to Start Something!

Both BTC and (some) alts can have great success, it doesn't always need to be a battle.

homo homini lupus

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Let's say it crashes to 50$ - you think all alts will become worthless aswell? There will be alts with real value in them and therefore with community backing which coins will be resilient enough to hold their price in USD terms or even rise. So altcoins is the place to be at right now IMO.
Alts have been oversold since months and pretty much all of the older ones clearly hit the bottom and some are even rising.

First signs of priceindependance can be observed currently.
Bitcoin doom: altcoins to the moon ┗(°0°)┛

Don't count on bitcoin, this bearmarket could go on for a while. Invest in improved coins while Bitcoin is busy bleeding.

Topic: As Bitcoin crashes to the abyss altcoins will become independant in price - page 2. (Read 1912 times)