Topic: Bitcoin AND the Altcoins are moving up.. Pushing ATH&#039;s for global CC markets.. - page 2. (Read 2044 times)

Every money that goes into altcoin is pure speculation.
Altcouins are backed up by nothing. Bitcoin can be used as payment, but i do not remember that I have seen more than two shops accepting a any other coin than bitcoin.
That's why I think sooner or later the money that goes into alt will go out of it again. Maybe into btc, maybe back in fiat.

Nearly no merchants actually accept Bitcoin, and those that do only get a select few customers who pay in Bitcoin. You go to big cities, a couple of shops that you searched for happen to accept Bitcoin and then you've decided it has serious adoption when it doesn't. Altcoins are backed by their potential use, which is the same reason that Bitcoin is backed (plus the "digital gold" thing).

Where do you live ? But regardless of your geolocation, I guess you may find enormous number of bitcoin accepting merchants online. But still you are talking no merchants accepts, how ? I believe I could buy everything which are needed for my living with bitcoin payments.

Cryptocurrency market is right now booming, no doubts on that but the reasons would be insignificant in my opinion. Because not just individuals pushing it but the community, when there are big number of people taking same decisions then there will be no wonder, some jokes also being considered as a serious investment vehicles.

Iranus

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Quote from: Pursuer on April 04, 2017, 03:38:30 AM

Every money that goes into altcoin is pure speculation.
Altcouins are backed up by nothing. Bitcoin can be used as payment, but i do not remember that I have seen more than two shops accepting a any other coin than bitcoin.
That's why I think sooner or later the money that goes into alt will go out of it again. Maybe into btc, maybe back in fiat.

Nearly no merchants actually accept Bitcoin, and those that do only get a select few customers who pay in Bitcoin. You go to big cities, a couple of shops that you searched for happen to accept Bitcoin and then you've decided it has serious adoption when it doesn't. Altcoins are backed by their potential use, which is the same reason that Bitcoin is backed (plus the "digital gold" thing).

hase0278

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the only "actual usage" for any cryptocurrency are these:
1- bitcoin, since obviously it is the first and only cryptocurrency anybody outside of crypto world knows of and it has been around as a real currency for 8 years and ....

2- litecoin, it has been like the second cryptocurrency and it has been around long enough and there are actual services online which you can find that accept litecoin as payment. also it has an stable price for most of its life.

3- Monero, it is THE anonymous cryptocurrency and because of the "real" anonymity features it offers, this coin has an edge for being accepted as a payment when privacy and anonymity is of great concern.

4- Dogecoin, this coin had the biggest community and because of that some services has been created around it (I have mostly seen games being sold for dogecoin with big discounts).

I agree with you since I have seen many stores on the internet that accepts crypto-currency and it seems like this four coins are the ones most likely to be accepted in payments. Dogecoin to be precise have been accepted by merchants mainly I think because it just goes stable to a certain price for a very long time and pump and dump but recovers which stays to the price where it had risen or fallen for a certain amount of time. Monero sometimes is used in deepweb and litecoin is also one of the most accepted crypto-currencies around in terms of payment. Your post just proves that bitcoin still is the king since it's 8 years of life started.

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Quote from: Omega Weapon on April 06, 2017, 06:54:30 PM

I think it is a sign that other useful altcoins have emerged, and that do things bitcoin does not so I don’t see too much of a problem with that but I agree that something must be done to try to keep the leadership of bitcoin in the world of crypto.

Nope. Pump as usual, albeit a genuinely huge one. Some have already lost half or more of their valuation compared to a few days ago.

Of all alts the only possibilities of actual usage in the near future, and I don't count XRP as an actual cryptocurrency, are LTC with Openbazaar coming on board and no doubt a few more and ETH, though the likelihood is that the real usage will come from something that lifts ETH's code and does something private with it.

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Quote from: Omega Weapon on April 06, 2017, 06:54:30 PM

Quote from: spazzdla on April 03, 2017, 07:19:11 PM

Bull mode.. time

http://coinmarketcap.com/charts/

then click the 26 billion market cap at the top

It is USD 27 Bn. Tongue

Alts have been the major driver in this rally. Bitcoin dominance is at an all time low.

it's recovering a little, but yes, most of the new money in crypto is moving into altcoins, so that's quite a bad sign for bitcoin since it's a sign people trust altcoins more than bitcoins.

And it's also a sign that if we stay in our current direction, bitcoin won't remain the market leader for long.

Action is required right now or else we lose our advantage over altcoins.

I think it is a sign that other useful altcoins have emerged, and that do things bitcoin does not so I don’t see too much of a problem with that but I agree that something must be done to try to keep the leadership of bitcoin in the world of crypto.

We don't need to keep Bitcoin permanently as some sort of crypto king, but a lot of the money moving into the altcoins is just a huge pump and even if it lasts it won't matter too much because they won't get proper adoption until one of them actually surpasses Bitcoin, which won't happen because people put their money in loads of different altcoins.

Omega Weapon

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Quote from: spazzdla on April 03, 2017, 07:19:11 PM

Bull mode.. time

http://coinmarketcap.com/charts/

then click the 26 billion market cap at the top

It is USD 27 Bn. Tongue

Alts have been the major driver in this rally. Bitcoin dominance is at an all time low.

it's recovering a little, but yes, most of the new money in crypto is moving into altcoins, so that's quite a bad sign for bitcoin since it's a sign people trust altcoins more than bitcoins.

And it's also a sign that if we stay in our current direction, bitcoin won't remain the market leader for long.

Action is required right now or else we lose our advantage over altcoins.

I think it is a sign that other useful altcoins have emerged, and that do things bitcoin does not so I don’t see too much of a problem with that but I agree that something must be done to try to keep the leadership of bitcoin in the world of crypto.

Text

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You're right, traders who are investing also in altcoins are just wanting to make their bitcoin grow so at the end of the day they will still choose BTC. Altcoins are created to support bitcoin. It is just the sign that crypto-currencies is getting more popular.

NUFCrichard

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Quote from: MR1 on April 04, 2017, 06:18:46 AM

Quote from: spazzdla on April 03, 2017, 07:19:11 PM

Bull mode.. time

http://coinmarketcap.com/charts/

then click the 26 billion market cap at the top

Bitcoin`s market share is currently under 70%. This percentage will slowly diminish with the time as there are better coins/tokens/project on the market.

I think people just like crazily temperamental markets so that they can trade and make money.
Bitcoin is becoming a bigger market that is harder to manipulate, not impossible if you have deep enough pockets, but it isn't easy.

People pump and dump alts all the time. You see stuff like Bytecoin coing up 500% in a day, then slowly coming back down as no one wants to hold it!
The 27bill in Crypto belong 90% to bitcoin if you ask me. There may be a few true altcoiners, but most of the money in alts is just people trading to increase their Bitcoin holdings.

MR1

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Quote from: spazzdla on April 03, 2017, 07:19:11 PM

Bull mode.. time

http://coinmarketcap.com/charts/

then click the 26 billion market cap at the top

Bitcoin`s market share is currently under 70%. This percentage will slowly diminish with the time as there are better coins/tokens/project on the market.

~Bitcoin~

legendary

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it's recovering a little, but yes, most of the new money in crypto is moving into altcoins, so that's quite a bad sign for bitcoin since it's a sign people trust altcoins more than bitcoins.

And it's also a sign that if we stay in our current direction, bitcoin won't remain the market leader for long.

Action is required right now or else we lose our advantage over altcoins.

--> People don't trust altcoins they are just putting their money into bubble which may burst overnight just like how ETH price has dumped in last few days. Next one could be LTC... Grin

--> Bitcoin still have 69% dominance and when all this block size debate will be over, this will grow back.

--> Yes we need segwit activation as soon as possible rather than network split with BU.

NeuroticFish

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Altcouins are backed up by nothing. Bitcoin can be used as payment, but i do not remember that I have seen more than two shops accepting a any other coin than bitcoin.

Based on your logic atoms don't exist. Good to know.

Most altcoins had no development for long time and some came up with something new lately. Many grew based on this "something new", many were badly pumped.
I don't deny it, it's a lot of speculation. It's actually a lot of speculation on Bitcoin markets too.
History tells that most of the time when Bitcoin recovers, the altcoins lose some %. So now it's quite an uncertain time for investing in altcoins, especially for the ones that don't know trading too well.
Whoever wants to, just go to a website like cryptrader and see the charts for the last 6 months, not the default 48h and will see what I mean. ETH, LTC, XMR.. Just check.

Of course you may miss the train waiting for a new low, or may get dumped on. Trading is some % luck and some more % knowledge. And a lot of risk.

Amph

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Quote from: K128kevin2 on April 04, 2017, 03:25:34 AM

Every money that goes into altcoin is pure speculation.
Altcouins are backed up by nothing. Bitcoin can be used as payment, but i do not remember that I have seen more than two shops accepting a any other coin than bitcoin.
That's why I think sooner or later the money that goes into alt will go out of it again. Maybe into btc, maybe back in fiat.

altcoin offer an easy way to have more bitcoin, therefore there will be always money in altcoin, proportional to bitcoin

maybe no one noticed, but the whole altcoin emission per day is around 1800 btc from mining, which is exactly like the bitcoin amount of coins per day, a coincidence? i don't think so

it's like we are still stuck at 25 btc per block as a reward, basically there are the same money as before in crypto or slightly more

Carlsen

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Every money that goes into altcoin is pure speculation.
Altcouins are backed up by nothing. Bitcoin can be used as payment, but i do not remember that I have seen more than two shops accepting a any other coin than bitcoin.
That's why I think sooner or later the money that goes into alt will go out of it again. Maybe into btc, maybe back in fiat.

Pursuer

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Where is my ring of blades...

...
I think that people are only speculating on the price of altcoins. The only coins people actually use are probably Bitcoin, Monero and Ethereum (although I have no source for this).

the only "actual usage" for any cryptocurrency are these:
1- bitcoin, since obviously it is the first and only cryptocurrency anybody outside of crypto world knows of and it has been around as a real currency for 8 years and ....

2- litecoin, it has been like the second cryptocurrency and it has been around long enough and there are actual services online which you can find that accept litecoin as payment. also it has an stable price for most of its life.

3- Monero, it is THE anonymous cryptocurrency and because of the "real" anonymity features it offers, this coin has an edge for being accepted as a payment when privacy and anonymity is of great concern.

4- Dogecoin, this coin had the biggest community and because of that some services has been created around it (I have mostly seen games being sold for dogecoin with big discounts).

and things like ethereum are not a currency, they are mostly a platform made to do specific things (pretty badly I should add) and because it is centralized that coin will never be as successful as other decentralized counterparts.

K128kevin2

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Quote from: spazzdla on April 03, 2017, 07:19:11 PM

Bull mode.. time

http://coinmarketcap.com/charts/

then click the 26 billion market cap at the top

It is USD 27 Bn. Tongue

Alts have been the major driver in this rally. Bitcoin dominance is at an all time low.

it's recovering a little, but yes, most of the new money in crypto is moving into altcoins, so that's quite a bad sign for bitcoin since it's a sign people trust altcoins more than bitcoins.

And it's also a sign that if we stay in our current direction, bitcoin won't remain the market leader for long.

Action is required right now or else we lose our advantage over altcoins.

I think that people are only speculating on the price of altcoins. The only coins people actually use are probably Bitcoin, Monero and Ethereum (although I have no source for this).

Pursuer

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Where is my ring of blades...

maybe it is best to start thinking about what marketcap really is and why is it a bad factor for comparison
and instead of looking at marketcap alone it is best to look at other factors too, factors such as price and how it has changed in long term, factors like the real adoption and how many more merchants and services has adopted bitcoin,...

_nur

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looks like bitcoin is loosing due to governance

Iranus

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it's recovering a little, but yes, most of the new money in crypto is moving into altcoins, so that's quite a bad sign for bitcoin since it's a sign people trust altcoins more than bitcoins.

And it's also a sign that if we stay in our current direction, bitcoin won't remain the market leader for long.

Action is required right now or else we lose our advantage over altcoins.

Altcoins are good for the Bitcoin economy as they encourage development and people often even buy into altcoins to increase their stake in Bitcoin. Litecoin, for example, has risen significantly recently and rightly so as it's well on its way to SegWit activation. People shouldn't be afraid of altcoins, the shit ones like DASH will die off as they already are and coins like ETH are mostly just being pumped (even ETH is starting to fall now).

Bitcoin is now on an uptrend and the hype about altcoins taking over should be dead.

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Bitcoin FTW!

Quote from: spazzdla on April 03, 2017, 07:19:11 PM

Bull mode.. time

http://coinmarketcap.com/charts/

then click the 26 billion market cap at the top

It is USD 27 Bn. Tongue

Alts have been the major driver in this rally. Bitcoin dominance is at an all time low.

it's recovering a little, but yes, most of the new money in crypto is moving into altcoins, so that's quite a bad sign for bitcoin since it's a sign people trust altcoins more than bitcoins.

And it's also a sign that if we stay in our current direction, bitcoin won't remain the market leader for long.

Action is required right now or else we lose our advantage over altcoins.

The good news is most altcoins are being held by just bagholders and there's not much real value in them other than that. For example, Litecoin has no other uses over Bitcoin and it's really not even used anymore. The FUD's driven people out of Bitcoin and there's not too much we can do but wait for a dump (which will likely happen for many alts) and let people realise that they've been led in the wrong direction.

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