BTC being pumped at the expense of other coins?

ShakyhandsBTCer

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Quote from: KryptoKings on June 01, 2014, 02:26:18 PM

Quote from: removebeforeflight on June 01, 2014, 02:20:53 PM

So speculators, is litecoin under valued
right now against BTC and therefore
a good longer term buy?

Litecoin is dying. Way too many scrypt coins and now hype around other coins such as Darkcoin and Blackcoin are hurting Litecoin and even Dogecoin. Plus the big asics are now out and everyone is dumping those coins for BTC.

The other coins accomplish the same thing that Bitcoin does. The network for these alt-coins is much weaker then the Bitcoin network. Draw your own conclusion....

zimmah

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yeah, bitcoin is pumping at the expensive of altcoins Roll Eyes

altcoins wouldn't even exist without bitcoin

leopard2

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Excellent observation OP

Unusual indeed, this cannot be coincidence

---> institutional investors! they (of course) go for the main player and that is BTC

Still I believe that the major altcoins will catch up massively once BTC goes into 4 digits when left behind people will scramble for alternatives

KryptoKings

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Quote from: removebeforeflight on June 01, 2014, 02:20:53 PM

So speculators, is litecoin under valued
right now against BTC and therefore
a good longer term buy?

Litecoin is dying. Way too many scrypt coins and now hype around other coins such as Darkcoin and Blackcoin are hurting Litecoin and even Dogecoin. Plus the big asics are now out and everyone is dumping those coins for BTC.

KryptoKings

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Quote from: DolanDuck on May 31, 2014, 04:42:09 PM

The last uptrend of the bitcoin isn't a simple pump, it was way underpriced after months of bad news.

So true

removebeforeflight

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So speculators, is litecoin under valued
right now against BTC and therefore
a good longer term buy?

chessnut

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This wave is being driven by infrastructure and the network effect. there is simply no infrastructure being built around alt coins like litecoin, nmc, ppc or dogecoin anything like that which is being built around bitcoin. the reality is that most alt coins will die, and none of the existing alts will keep up with the growth of bitcoin.

Wolf Rainer

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Quote from: thedarksun on May 31, 2014, 02:25:07 PM

Btc keeps rising while coins like ppc and nmc are being dumpsteref. Coincidence?

It´s not coincidence. It seems like you are new in here, but that´s something happend all the times BTC goes high. People sell alt coins to join the rocket of btc, and then when btc gets to spensive to buy the people do panic buy at alt and pump then.

TERA

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Altcoins decline when bitcoin is recovering from a bear market and then they suddenly rally again in the middle of a bitcoin bubble so they have this super exponential rise versus the usd.

Elwar

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Alts tend to rise at the same time as Bitcoin.

Litecoin was up to $50 during our last peak.

Torque

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Litecoin being traded to pump Nxt, Darkcoin, and Blackcoin. Guess what happens after the pump? Buh bye Grin

fonzie

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byronbb

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So much of the altcoin community is about making the founder's rich. After that it is the hopeful masses who missed the bitcoin train and are playing the roulette table of crypto currency. The fundamental importance of any crypto is hash-rate strength. Bitcoin is absolute magnitudes ahead of all the alts. The bitcoin network is 100 times more powerful than 500 of the world's super computers combined.No alt comes close.

Swordsoffreedom

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Well I think that if people want to get into altcoins they need to get Bitcoins first since exchanges and merchant services are available for Bitcoin but not often for other alt-coins unless you mine them yourself.
If anything it isn't shocking that the price is dropping in altcoins and the price of Bitcoin is rising at this time.

bitcoinsrus

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I think a great developmental team can make an alt successful. When the devs leave (coins do die). The community also plays a factor (look at doge that was created in dec 2013 and now is doing ok because of the community).

Yes btc is the head honcho right now and alts are being traded for it. Some have potential (that provide more features etc). Lets see what happens.

PolarPoint

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The majority of the alts are created for the sole purpose of making a bitcoin fortune. The alts are being dumped for bitcoin are fulfilling their purpose. Bitcoin is recovering from a dump, not being pumped.

socal

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hey saddam just wanted to say thanks for letting me stay in your country for a year and live in some of your palaces....were the gold AK-47s really necessary though?

saddambitcoin

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Anyone holding on to altcoins does not want to miss out on a BTC rally so they convert to BTC. That's when you start to see nice prices like 0.01 BTC for a Litecoin. After the rally goes hyper-exponential these profits will flow back into altcoins and "pump" them. You can make a lot of money by recognizing these patterns.

socal

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Quote from: DolanDuck on May 31, 2014, 04:42:09 PM

The last uptrend of the bitcoin isn't a simple pump, it was way underpriced after months of bad news.

Well there is deff that as well

+1

DolanDuck

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The last uptrend of the bitcoin isn't a simple pump, it was way underpriced after months of bad news.

socal

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If I had to guess I would say the first time they all went up was because anything even close to crypto got a nice lil boost from everyone rushing to BTC and everyone wanting some of the crypto pie regardless if it was BTC "flavor" or LTC, NMC, etc etc etc but this time they know most other cryptocurrencies are just good for the old PnD (like the girl you took to Prom) so they are cashing those in and going for gold with BTC

mediogreFIN

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Agree with bitcoin not being pumped.. kind of. There might be some sort of bubble coming so in a way it's a "pump".. But people really use that word incorrectly and way too often.

Many have analyzed that people are trading altcoins for bitcoin because bitcoins price is going up. So people are selling altcoins (which causes prices to go lower). It's not in expense of altcoin..

Previously when bitcoin went up all altcurrencies went up also.. this time when bitcoin went up other currencies went down.. Maybe there are too many altcoins now and people are using them differently than before.. dunno for real and can't explain in detail.. it's just seems like it.

socal

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Quote from: romneymoney on May 31, 2014, 02:40:18 PM

IMO alts are great money makers for founders, insiders, and lucky people. In general almost every alt coin is headed downhill over the long term, so a more casual trader is likely to lose money.

Very true there ARE a few exceptions to that rule but not many for the most part unless you are mining on the launch date and can hit the initial pump alts are EXTREMELY risky, thats why I use and endorse IPOMiner.com as my altcoin pool of choice that way all I gotta do is sell once I hit profit range which is easy to do if you get in during the launch of a coin and not weeks months or years down the road when its already firmly rooted in the Dead Cat Roll (to steal a phrase from Crypto Judge)

romneymoney

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IMO alts are great money makers for founders, insiders, and lucky people. In general almost every alt coin is headed downhill over the long term, so a more casual trader is likely to lose money.

smoothie

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I guess OP is invested in PPC and NMC? Cheesy

Dalmar

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Altcoins will get their fair share of pumping if this truly turns into a bubble with many new comers looking for bitcoin alternatives. Litecoin wasn't pumped during the last bubble until bitcoin was well above its previous ATH.

wachtwoord

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BTC is not being pumped. Do you understand Bitcoin is the real thing and those alts are the ones that are either being pumped or merely trying to complement Bitcoin? Overall the altcoin market is vastly overpriced at current levels anyway relative to Bitcoin.

socal

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actually I'm pretty sure whats happening is that since the FIAT worth of other coins is basically remaining the same but BTC is rising thats why their BTC value is going down, compound that with people dumping their altcoins to get back in on the BTC Gravy Train and thats where the volume and further downward pressure on prices for altcoins is coming from.

Someone please correct me if I'm wrong but I think that about sums it up.

P.s.

Also don't forget about the regular PnD cycles of crypto in general but especially when it comes to altcoins

thedarksun

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Btc keeps rising while coins like ppc and nmc are being dumpsteref. Coincidence?

Topic: BTC being pumped at the expense of other coins? (Read 1994 times)