Bitcoin will be more valuable when the altcoin bubble bursts - page 2.

gentlemand

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Quote from: Bonheur on July 06, 2018, 01:51:37 PM

You know dotcom bubble was the caused because people rushed to buy technology companies shares.but the problem was that most of these tech companies did not even have a product or even a plan to have a product.they were just in for the money they can grab.

I think this is a very valid comparison, but I dunno if BTC would emerge unscathed from an alt implosion. It's going to take more time for there to be a detectable difference in most minds. We can already see it developing with serious investors, I've never seen a talking head on TV enthuse about EOS or Cardano, but that still leaves a lot of little people to panic.

Either way I'm pretty amazed some of the stuff that's in the top ten on Coinmarketcap is still there.

patt0

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Quote from: Bonheur on July 06, 2018, 01:51:37 PM

I know this is not a great comparison but this is my honest thoughts and belief in bitcoin.

I actually think what you said in your opening post is a great comparison and I totally agree with you. We have a lot of alts with no real product, and they will eventually burst. Some might have a product, but are still overpriced so they will lose a lot of value. Bitcoin on the other hand, and some other coins like ether, or maybe even others that may still arise in the future will have a role to play in our economy, and will be the true blockchain projects for the future.

hatshepsut93

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Quote from: tee-rex on July 07, 2018, 03:21:11 AM

It has likely already crashed. Hell, it has crashed as far and deep as crashes can reach. But it doesn't mean that "crypto tech", where bitcoin truly belongs to, is not solving anything. If it weren't, we wouldn't have bitcoin prices of over 6k dollars per coin after almost 10 years of evolution. I agree that you can have a "tulipomania" for some time at certain prices, but definitely not for so long and at such prices. If you come to disagree with this point, you are simply in denial. Exactly one year ago 1 bitcoin cost around $2k, now it costs 3 times as much. Honestly, I don't know how you can have this if "crypto tech" was not solving anything as you claim.

Did you read my whole post? I told that Bitcoin different, because it has qualities that can justify it's value - it has community, it has very professional developers, it has huge PoW and it has achievable goals. We can't know if the current price is mostly speculative or if it is backed by the real use, but it's clear that altcoins are in bubble, it's absurd to have coins and tokens with nothing more than a whitepaper have billions in marketcap, it's absurd to have copypaste forks have any price bigger than zero.

Snakerist

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I think Bitcoin has little chances to compete with altcoins that has strong project which can add real value to the world.

gosha18

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Altkoins are alternative coins and some are created by scammers, you need to be careful when investing in altkoyins.

Wendigo

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Altcoins won't disappear until trading Bitcoin yields higher profit margins than trading altcoins. Pump and dump schemes are synonymous with altcoin trading. It's easier to earn more trading volatile altcoins than stale Bitcoin. I think the altcoin bubble isn't going to burst any time soon.

Red-Apple

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Quote from: hdtqisg on July 07, 2018, 05:02:16 AM

Altcoin and tokens have grown excessively by the end of 2017 and early 2018. Too many projects failed, too many projects abandoned or scams! Good projects, still supported by the developer will be successful!

the problem is people these days call an altcoin project "good" if it is pumped more and has a bigger bubble than others. for example when ETH is pumped a lot people call it "good" but the tragedy is that real good projects always go unnoticed thanks to these top pumped coins!
which is why we see all these bubbles these days and why they are not yet popped completely.... OP has a good point here.

hdtqisg

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Altcoin and tokens have grown excessively by the end of 2017 and early 2018. Too many projects failed, too many projects abandoned or scams! Good projects, still supported by the developer will be successful!
In fact, Bitcoin can also be replaced by altcoin in the future!

bp124

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Yeah even before altcoins bubble bursts bitcoin has been doing good just that compared to last year there is a difference but the question that lies on the whole community is that how many cryptopreneurs can even afford one bitcoin even at this rate how much more if altcoins are to get rid of the system for only bitcoin to be the only cryptocurrency to be in use. Then some of us might us well us get out of cryptocurrencies for only the whales to do their thing. We just need to find a way of how numerous altcoins are just flooding the crypto market without any value.

talkbitcoin

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All I know is that I know nothing.

this makes sense considering all the altcoins (nearly 2000 of them) have been in huge bubbles. most of them are obviously small ones with big bubbles but low volumes so they shouldn't affect anything but the big ones like Ethereum for example have been the worst among altcoins. going from $1500+ down to $400 and still getting dumped is a LOT of money going out.

Tetew50

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While bitcoin is still useful and still benefits us, I still will still believe in bitcoin. I am very heavy to say that bitcoin is a fraud.

tee-rex

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Quote from: hatshepsut93 on July 06, 2018, 06:01:11 PM

Quote from: rreeve on July 06, 2018, 05:31:46 PM

There are just two ways it could happen though.
1, If someone invents something much better at solving the same problems as crypto tech,

Cryptocurrency market will crash because "crypto tech" is not solving anything - most altcoins and tokens are just vaporware and scams, those that have working networks are miles away from delivering on their promises, which they won't do, because they are unrealistic and developers are not competent enough. Bitcoin is different because it actually has developers who believe in the project and have the skills to keep on improving the protocol year after year. The market will crash when the speculative period will be over, because big investors won't see any fundamentals that can lead to success, only empty promises and hype.

It has likely already crashed. Hell, it has crashed as far and deep as crashes can reach. But it doesn't mean that "crypto tech", where bitcoin truly belongs to, is not solving anything. If it weren't, we wouldn't have bitcoin prices of over 6k dollars per coin after almost 10 years of evolution. I agree that you can have a "tulipomania" for some time at certain prices, but definitely not for so long and at such prices. If you come to disagree with this point, you are simply in denial. Exactly one year ago 1 bitcoin cost around $2k, now it costs 3 times as much. Honestly, I don't know how you can have this if "crypto tech" was not solving anything as you claim.

Msworld83

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True, most alts are bubble while some are not, we have many alts that has good product and great team to make happen, why some are in for the money but that doesn't say Bitcoin will be the only survival in future .
The rate in which new alts came with ICOs now makes me feel your point and that pave way for regulation which I know is the best to curb those fake ico with no intention of solving any problem through blockchain but to add burden to it existed , so I will say yes and no with my point because not all are bubble.

bittraffic

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Quote from: Bonheur on July 06, 2018, 01:51:37 PM

I really think altcoins are a bubble just like dotcom bubble.
You know dotcom bubble was the caused because people rushed to buy technology companies shares.but the problem was that most of these tech companies did not even have a product or even a plan to have a product.they were just in for the money they can grab.
I believe altcoins are just like that.most of them are just fancy scams looking to get money.
And when that bubble bursts bitcoin will be shaked but will stand its ground.
dotcom bubble paved the way for real companies with a plan to grow.
And there came Amazon,Google,Apple.
Bitcoin will be very very valuable.
Right or wrong I am seeing pre dotcom bubble Amazon in bitcoin. the price of a Amazon share was 108 dollars, after the burst it was 8 dollars.Look at what it had become.
I know this is not a great comparison but this is my honest thoughts and belief in bitcoin.

Nope. Bitcoin is just the first to appear that is why its the known coin in the world but there are more advance token created not just for the purpose of storing value like BTC. Its not a bubble because no one can generate a token out of a token that you can plant the token and multiply just like how the tulip flower bubble if you knew the history of the tulip bubble. These tokens are going to be mined and has total supply which is limited and so the bubble won't die because of it.

Moblie_Legend

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Quote from: Bonheur on July 06, 2018, 01:51:37 PM

I really think altcoins are a bubble just like dotcom bubble.
You know dotcom bubble was the caused because people rushed to buy technology companies shares.but the problem was that most of these tech companies did not even have a product or even a plan to have a product.they were just in for the money they can grab.
I believe altcoins are just like that.most of them are just fancy scams looking to get money.
And when that bubble bursts bitcoin will be shaked but will stand its ground.
dotcom bubble paved the way for real companies with a plan to grow.
And there came Amazon,Google,Apple.
Bitcoin will be very very valuable.
Right or wrong I am seeing pre dotcom bubble Amazon in bitcoin. the price of a Amazon share was 108 dollars, after the burst it was 8 dollars.Look at what it had become.
I know this is not a great comparison but this is my honest thoughts and belief in bitcoin.

indeed in the investment by using crypto currency must have a comparison and the comparison is used to think in making decisions by utilizing the existing opportunities to gain a profit in the investment

Pursuer

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Quote from: Bonheur on July 06, 2018, 01:51:37 PM

I really think altcoins are a bubble just like dotcom bubble.
You know dotcom bubble was the caused because people rushed to buy technology companies shares.but the problem was that most of these tech companies did not even have a product or even a plan to have a product.they were just in for the money they can grab.
I believe altcoins are just like that.most of them are just fancy scams looking to get money.

I see what you mean but your comparison is wrong because altcoins are pumped!
the difference is that in dotcom bubble and the similar ones people actually rushed to buy them so the price went up because of that. in altcoin bubbles people did buy them but that was not the reason for this kind of rise. the reason was because of the pumps.
in dotcom bubble pumps are illegal and since the market is regulated you can not do it without consequences but altcoin market is not and it is easy to manipulate it without consequence and also since it is a tiny market you can become a whale with a lot less money.

Quote from: Bonheur on July 06, 2018, 01:51:37 PM

And when that bubble bursts bitcoin will be shaked but will stand its ground.

I agree with this though. it has been a theory that I have had for a while now. as people dump altcoins they do it on popular altcoin exchanges like Binance, Poloniex,... these places don't have fiat markets (don't confuse tether with fiat) so in order to go back to fiat they have to sell their shitcoins for bitcoin then transfer it to another exchange like Coinbase, Bitstamp, Kraken,... to dump for fiat so bitcoin price comes down as they dump their altcoins and the bubbles burst.

hatshepsut93

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Quote from: rreeve on July 06, 2018, 05:31:46 PM

There are just two ways it could happen though.
1, If someone invents something much better at solving the same problems as crypto tech,

Cryptocurrency market will crash because "crypto tech" is not solving anything - most altcoins and tokens are just vaporware and scams, those that have working networks are miles away from delivering on their promises, which they won't do, because they are unrealistic and developers are not competent enough. Bitcoin is different because it actually has developers who believe in the project and have the skills to keep on improving the protocol year after year. The market will crash when the speculative period will be over, because big investors won't see any fundamentals that can lead to success, only empty promises and hype.

rreeve

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Quote from: Bonheur on July 06, 2018, 01:51:37 PM

Bitcoin will be more valuable when the altcoin bubble bursts

Thanks man. That has got to be the single funniest/biased title I have ever seen.
To reply, I'd say
The FUD market bubble burst won't happen but if it did, Bitcoin would most certainly be among the worse affected.

The reason why it won't happen is that the crypto market is 24hrs a day and the continual exits are reflected in the volatility of crypto markets.

There are just two ways it could happen though.
1, If someone invents something much better at solving the same problems as crypto tech,
2. If Quantum computing cracks current encryption algorithms.

Not sure why you seem to think that Bitcoins stands apart from other blockchains.

Blockchain innovation is happening so quickly and Bitcoin will be carried by future blockchain inventions. Even as the industry stands today, Bitcoin could be improved by some altcoins. My point is, the altcoins we will see in the next 5 years will make Bitcoin less significant not more.

I'm getting tired of people repeating the same shit. Crypto bubble will burst like the dotcom did. When will people learn to do their own research and stop spouting cliches

tee-rex

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Quote from: Bonheur on July 06, 2018, 01:51:37 PM

I really think altcoins are a bubble just like dotcom bubble.
You know dotcom bubble was the caused because people rushed to buy technology companies shares.but the problem was that most of these tech companies did not even have a product or even a plan to have a product.they were just in for the money they can grab.
I believe altcoins are just like that.most of them are just fancy scams looking to get money.
And when that bubble bursts bitcoin will be shaked but will stand its ground.
dotcom bubble paved the way for real companies with a plan to grow.
And there came Amazon,Google,Apple.
Bitcoin will be very very valuable.
Right or wrong I am seeing pre dotcom bubble Amazon in bitcoin. the price of a Amazon share was 108 dollars, after the burst it was 8 dollars.Look at what it had become.
I know this is not a great comparison but this is my honest thoughts and belief in bitcoin.

While I definitely agree that most altcoins have nothing to add to what bitcoin already has, I can't agree that bitcoin is much different from the rest of the pack. If you take any of the major altcoins like dash or litecoin, they can easily substitute bitcoin and you won't see any particular difference in general. Well, strictly speaking, there will be a difference after all, and to the better in terms of transaction speeds and costs. All in all, it is more like first come first served, but apart from that, there is nothing in bitcoin which other coins don't have.

supermine

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Quote from: Bonheur on July 06, 2018, 01:51:37 PM

I really think altcoins are a bubble just like dotcom bubble.
You know dotcom bubble was the caused because people rushed to buy technology companies shares.but the problem was that most of these tech companies did not even have a product or even a plan to have a product.they were just in for the money they can grab.
I believe altcoins are just like that.most of them are just fancy scams looking to get money.
And when that bubble bursts bitcoin will be shaked but will stand its ground.
dotcom bubble paved the way for real companies with a plan to grow.
And there came Amazon,Google,Apple.
Bitcoin will be very very valuable.
Right or wrong I am seeing pre dotcom bubble Amazon in bitcoin. the price of a Amazon share was 108 dollars, after the burst it was 8 dollars.Look at what it had become.
I know this is not a great comparison but this is my honest thoughts and belief in bitcoin.

If the bitcoin will become the only crypto currency available in the future then the bitcoin price will go to moon but it will become unusable because of too much expensiveness.The main reason for the invention of bitcoin is to be used as currency so don't expect it to be only in the hands of millionaires.If we want the crypto currency system in the future we need bitcoin as well as the altcoins.

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