Bitcoin vs altcoins, will they survive? - page 5.

Yakamoto

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Quote from: elektra on June 07, 2017, 04:45:14 PM

I wonder what the general view is on this. It is obvious that having altcoins in the short term can be extremely profitable with amazing % increases. But it is probably not sustainable over the long term. Or can you actually put your money in altcoins and just let them sit there for the long term, like with Bitcoin and Etherium etc? Or should you always gradually move your short term profits from altcoins over to Bitcoin or Etherium to save for the very long term?

What are the views on the survival of the alctcoins? Say in the current top 50 list. Do you think they will still be prospering in 1-5-10 years? (granted of course that the whole marked would not crash completely a long with Bitcoin etc)

And by prospering I don't necessary mean they will be in the top 50. But at least that they will be worth more than they currently are.

For an overwhelmingly large amount of altcoins, they will be pumped soon after the inception (or again by groups looking to sucker people in or money) and then they will be forgotten incredibly soon after that. For basically all the pumps I have seen, there are people left holding the bag and their money gets burned in an un-sellable investment.

Some alts, like Ethereum, Litecoin, NEM, Ripple, etc., they are more reliable but not bulletproof, like everything else in the cryptosphere.

angaper

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This is a very good question. But to be honest, it is hard to think that the current proliferation of altcoins is sustainable and necessary for practical purposes. Almost anyone can launch a new altcoin every day, but the relative ease with which it can be done is leading us to find repetitive, futile and not very innovative altcoins, and just as with languages and fiat currencies, "less is more" and this will gradually lead us to deposit our finances in a few altcoins, and the rest will continue to be used as simple pump and dump businesses, despite the good intentions of many unfortunate altcoin designers and programmers.

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Quote from: elektra on June 07, 2017, 04:45:14 PM

Or can you actually put your money in altcoins and just let them sit there for the long term, like with Bitcoin and Etherium etc?

Or should you always gradually move your short term profits from altcoins over to Bitcoin or Etherium to save for the very long term?

Moves our short-term profit to the bitcoin form and avoided the dump on altcoin and with your profit, you can try your luck to buy again on the dips.

Quote from: elektra on June 07, 2017, 04:45:14 PM

What are the views on the survival of the alctcoins? Say in the current top 50 list. Do you think they will still be prospering in 1-5-10 years? (granted of course that the whole marked would not crash completely a long with Bitcoin etc)

Why not? At least those (investors) are still interested in flipping his money on altcoin to get the decent profit and that makes altcoin will always be surviving.

Quote from: elektra on June 07, 2017, 04:45:14 PM

And by prospering I don't necessary mean they will be in the top 50. But at least that they will be worth more than they currently are.

That's right. It just like a game for the flippers.

BitcoinPanther

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Quote from: countryfree on June 07, 2017, 05:26:41 PM

Yes! I don't see why BTC should be the only cryptocurrency. I believe Ether and Monero are good, too. I doubt there could be more than 10 successful altcoins, though. I'm amazed with ripple, which I see as a huge scam, but look at it, it has risen like crazy since the beginning of this year.

I also believe that it is not right to see bitcoin as only worthy cryptocurrency. There are lots of new altcoins there that has more advance technology than Bitcoin. The only advantage of Bitcoin is being the first mover to decentralized blockchain. Bitcoin anonymity is flawed since we can trace people once they attached their identities to an address that is connected to the other addresses used by the user and some altcoin solved that. Anyway, I also belive that altcoin can survive because population is so huge that Bitcoin alone cannot cater them.

countryfree

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Yes! I don't see why BTC should be the only cryptocurrency. I believe Ether and Monero are good, too. I doubt there could be more than 10 successful altcoins, though. I'm amazed with ripple, which I see as a huge scam, but look at it, it has risen like crazy since the beginning of this year.

bettercrypto

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I think altcoin survival depends on it developers and how their marketing be able to cater supporters and community. Once an altcoin is launched it was given a chance to prove itself. It maybe slow for sometime but those who proved themselves shows an increase in volume and price. Meaning some investors were getting in to this altcoin.

ophyrim

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Quote from: elektra on June 07, 2017, 04:45:14 PM

I wonder what the general view is on this. It is obvious that having altcoins in the short term can be extremely profitable with amazing % increases. But it is probably not sustainable over the long term.

This is not totally true. For example, think about ethereum. As you now eth is one of the biggest altcoin but still an altcoin. You can invest your money to the eth. for short term and also for long term.The profit of eth is nearly X10 from january 2017. You might be right for some many coins which has small market cap. But this is not the case for all altcoins.

darkangel11

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I think they will survive, because they're offering something else that bitcoin doesn't. Some are more anonymous, some are faster, some offer better investment opportunities, some are better for trading i.e. more volatile. Bitcoin can go its own way and altcoins will have their own.
In 5 years bitcoin could become very stable and traders will look for something new. Also, don't forget about ICO investors. Some people are making huge money on new altcoins.

stripykitteh

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Quote from: elektra on June 07, 2017, 04:45:14 PM

I wonder what the general view is on this. It is obvious that having altcoins in the short term can be extremely profitable with amazing % increases. But it is probably not sustainable over the long term. Or can you actually put your money in altcoins and just let them sit there for the long term, like with Bitcoin and Etherium etc? Or should you always gradually move your short term profits from altcoins over to Bitcoin or Etherium to save for the very long term?

What are the views on the survival of the alctcoins? Say in the current top 50 list. Do you think they will still be prospering in 1-5-10 years? (granted of course that the whole marked would not crash completely a long with Bitcoin etc)

And by prospering I don't necessary mean they will be in the top 50. But at least that they will be worth more than they currently are.

Bitcoin has the potential to increase in price because it was the original cryptocurrency and it began the whole Altcoin trading thing so I am pretty sure that if Bitcoin drops from the #1 rank then the other Altcoin will have to pay homage to Bitcoin’s source code and the price of Bitcoin will place Bitcoin up on the #1 spot again.

The price of an Altcoin is usually moved due to the price of Bitcoin so why have it?

elektra

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I wonder what the general view is on this. It is obvious that having altcoins in the short term can be extremely profitable with amazing % increases. But it is probably not sustainable over the long term. Or can you actually put your money in altcoins and just let them sit there for the long term, like with Bitcoin and Etherium etc? Or should you always gradually move your short term profits from altcoins over to Bitcoin or Etherium to save for the very long term?

What are the views on the survival of the alctcoins? Say in the current top 50 list. Do you think they will still be prospering in 1-5-10 years? (granted of course that the whole marked would not crash completely a long with Bitcoin etc)

And by prospering I don't necessary mean they will be in the top 50. But at least that they will be worth more than they currently are.

Topic: Bitcoin vs altcoins, will they survive? - page 5. (Read 4023 times)