do not be afraid of the alts-rally | Bitcointalksearch.org

600watt

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Quote from: severaldetails on May 08, 2017, 10:01:07 AM

Well it's not like altcoins would be accepted anywhere else than at exchanges.
All you can do with them is trade them.
But at the point where you want to put them for good use and buy something, you have to convert them either into fiat, or bitcoin.
And that's the point why I think the alt ralley helps bitcoin too.
A good part of the alts will end up to be bitcoin sooner or later.

good point. jimmy song has written a nice blog post concerning this:

https://medium.com/@jimmysong/why-the-bitcoin-dominance-index-is-deceiving-80ae324ee2ac

Quote

Thought Experiment

If that last section was too confusing, consider this thought experiment. Suppose I make a new coin tomorrow called FoolCoin. I premine the whole thing (100,000,000 coins) and only make 10 coins available. Perhaps I create a marketing campaign and even get enough people to desire the coin that Poloniex lists it. I sell just 1 of the coins for $10. FoolCoin now has a $1 Billion market cap. The next coin, I sell for $11 and now FoolCoin has a $1.1 Billion market cap. If there’s enough demand, I eventually end up selling the other 8 coins for $20 each at which point, FoolCoin now has a $2 Billion market cap.

I’ve just added $2 Billion dollars to the cryptocurrency market cap and have reduced Bitcoin dominance by a few percentage points. But did I really take anything out of bitcoin other than perhaps a few hundred dollars worth?

CyberKuro

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Quote from: severaldetails on May 08, 2017, 10:01:07 AM

Well it's not like altcoins would be accepted anywhere else than at exchanges.
All you can do with them is trade them.
But at the point where you want to put them for good use and buy something, you have to convert them either into fiat, or bitcoin.
And that's the point why I think the alt ralley helps bitcoin too.
A good part of the alts will end up to be bitcoin sooner or later.

Some altcoins seems has potential I guess, as right now we have a coin which has reach $200.
We know that people will always sell their alts for bitcoin or fiat money, but is that true? Not everyone agreed.
Well, bitcoin isn't perfect in crypto world, so altcoins were here to fullfil what people want, even though mostly case we see it as trading object to earn more bitcoin.

severaldetails

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Activity: 959

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Well it's not like altcoins would be accepted anywhere else than at exchanges.
All you can do with them is trade them.
But at the point where you want to put them for good use and buy something, you have to convert them either into fiat, or bitcoin.
And that's the point why I think the alt ralley helps bitcoin too.
A good part of the alts will end up to be bitcoin sooner or later.

Noctis Connor

hero member

Activity: 1008

Merit: 540

Im not afraid of altcoin this is the only way where i can earn bitcoins in a week maybe let say im going to buy some alt and then stock them to exchange site waiting for the time to be pumped the coin and then sell them patient is our partner here if you can't wait then you could probably lose all your coins .

TravelMug

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I'm not afraid of Alt either. For me, there as still a pump and dump coins. All the pump is just temporary and be burst soon. Investors are just putting money in alt coins and if they think they are gaining already, sell and dump take the profit then pump another alt coin, Rinse and Repeat the process. While bitcoin is much more different, investors has full confidence and trust into bitcoin ecosystem. The continuing price rise is the basis how people are really trusting bitcoin.

adaseb

legendary

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I almost never short any coins but I just had to open a short on XRP.

Basically went from $4 Billion to $8 Billion market cap overnight.

For every 1BTC in my balance, i've shorted 0.25BTC, I would only get margin called if it went to 50K Sats. Which is highly highly unlikely since that would mean Ripple has a higher marketcap of BTC.

Long term ETH is the only alt that I see surviving...

Shishir99

sr. member

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Quote from: 600watt on May 07, 2017, 02:16:26 PM

a few thoughts concerning the big gains that lots of alts are showing:

-don´t begrudge alt investors for big gains. let them have their 5 minutes. bitcoin started its uptrend 18 months ago at $ 200-300 and has reached $ 1600 on bitstamp a few days ago. it has 5 folded or even 8 folded, depending where you start to count. in my opinion it will rise further, the end of the uptrend is not near. bitcoin went up 30% in the last 30 days.

-since alts are rallying at the same time bitcoin shows new ATHs it is clear that the money going into alts is not bleeding out of bitcoin. it is new money getting in. every dollar that gets invested in cryptos is good. lots of alts get traded via bitcoin and lots of alt investors will realize sooner or later that bitcoin is the name of the game.

-when alts have reached their peak and tank, part of that money invested in alts will flood into bitcoin. lots of investors will lose their gains and get burned but some of them will try to learn and switch to bitcoin. imho the positive effect for bitcoin will outweigh the negative ones.

disclaimer: invested in btc only

I also think so.Most of the people are putting money in altcoin for gaining quick money.Though few of the altcoins have a good future potential i think.

iamTom123

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I would agree with most of your post here. Indeed, what we are seeing here can be a little bit of an abnormality since in the past when Bitcoin is on the upswing most altcoins would bleed but this time they go together singing in the rain oblivious of the many problems and challenges which the cryptomarket is into.

Actually this is good news for many cryptocurrency enthusiasts as we have now many avenues to "invest" money with and make some profits. This is indeed helping Bitcoin because Bitcoin is becoming the gateway for this altcoins and when the going gets tough they normally return to Bitcoin like a give-and-take relationship. I would call this as a symbiosis connection.

davhek

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Quote from: moviebuff777 on May 07, 2017, 07:44:58 PM

Some of these altcoins could survive as alternatives to bitcoin. I don't think all will just die. Bitcoin and some altcoins could last for a while.

Alts with some innovation could survive, like factom, monero and byteball

NUFCrichard

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Quote from: d5000 on May 08, 2017, 03:58:51 AM

I agree mostly to the OP. I'm pretty sure that we are seeing the final stage of the alt rally these days, while Bitcoin has some air to the upside - specially because there is a real possibility now that Segwit gets really traction (Antpool mining a Core block, ViaBTC's poll).

ETH seems to seriously struggle with the 100$ barrier and Dash doesn't seem to be able to score a new ATH. The XRP and NEM pumps were that crazy that they are very likely to be the last pumps of that cycle before a dump takes them back to reality. There could be some coins of the second row to be pumped in the next days, but I wouldn't bet on it.

Quote from: 600watt on May 07, 2017, 02:16:26 PM

-when alts have reached their peak and tank, part of that money invested in alts will flood into bitcoin. lots of investors will lose their gains and get burned but some of them will try to learn and switch to bitcoin. imho the positive effect for bitcoin will outweigh the negative ones.

Just a small note: If investors buy altcoins via Bitcoin ($FIAT -> BTC -> $ALTCOIN) without being interested in Bitcoin, then some will go back to fiat via BTC when they take profits ($ALTCOIN ->BTC -> $FIAT). This could have a negative incidence in Bitcoin's price, although it should not be enough for a serious crash.

I see alts like a bonus account of Bitcoin. If there are billions of dollars invested in Alts, they are poised and ready to buy into Bitcoin at any moment.
I don't really believe that so many people are interested in Alts, or that they are seen as a long term investment. They are just people who bought Bitcoin and want to trade with it when the price is less volatile.

ETH should have a struggle at $100, that is a huge price for ETH. DASH too is crazily high, they are at prices that Bitcoin was at a few years ago, but with few of the prospects that Bitcoin had then.

Enjoy the ride, don't be scared of alts, but do think of them as penny stocks. You don't want to be left holding when the bottom falls out of the market, which can happen at any time for any coin. Look at the Poloniex delisted coins that fell 90% in a few minutes. It is dangerous stuff!

jakelyson

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I am not afraid, I am excited. Altcoins pumping means my investments are ripe for the picking. If it dumps again afterwards, it is fine, I have made profit and withdrawn by then. It is good to have investment on bitcoin but it is also wise to put some extra money on altcoins.

d5000

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Decentralization Maximalist

I agree mostly to the OP. I'm pretty sure that we are seeing the final stage of the alt rally these days, while Bitcoin has some air to the upside - specially because there is a real possibility now that Segwit gets really traction (Antpool mining a Core block, ViaBTC's poll).

ETH seems to seriously struggle with the 100$ barrier and Dash doesn't seem to be able to score a new ATH. The XRP and NEM pumps were that crazy that they are very likely to be the last pumps of that cycle before a dump takes them back to reality. There could be some coins of the second row to be pumped in the next days, but I wouldn't bet on it.

Quote from: 600watt on May 07, 2017, 02:16:26 PM

-when alts have reached their peak and tank, part of that money invested in alts will flood into bitcoin. lots of investors will lose their gains and get burned but some of them will try to learn and switch to bitcoin. imho the positive effect for bitcoin will outweigh the negative ones.

Just a small note: If investors buy altcoins via Bitcoin ($FIAT -> BTC -> $ALTCOIN) without being interested in Bitcoin, then some will go back to fiat via BTC when they take profits ($ALTCOIN ->BTC -> $FIAT). This could have a negative incidence in Bitcoin's price, although it should not be enough for a serious crash.

Pursuer

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Where is my ring of blades...

Quote from: ASHLIUSZ on May 07, 2017, 09:08:15 PM

Quote from: moviebuff777 on May 07, 2017, 07:44:58 PM

Some of these altcoins could survive as alternatives to bitcoin. I don't think all will just die. Bitcoin and some altcoins could last for a while.

There are few potential altcoins that might survive for longer time period. In the past too users could have never thought dash, doge, and all survive long. But it is strong and altcoins survival increase when it gets used for other purposes same as bitcoin. Right now only for trading purpose altcoins were preferred.

define survive first.
if your definition of surviving is the altcoins continue to get dumped now and then after a while, maybe a couple of months maybe a year from now they pump again, and dump again and pattern continues then you are 100% right. they will survive and continue doing this and each time a lot of bag-holders lose a lot of money while a limited number of traders make a lot of money from these newbies who bought into the hype.

edit:
enjoy

rajasumi3

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Well i am not afraid of altcoins at all.ALtcoins are temporary and they will be erased away very easily in a quick span of time.
I only earn bitcoins through signature campaign,so there is no point that i will be afraid of altcoins,as i hold only bitcoins.

Torque

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So hilarious to visit a few of the special snowflake alt-du-jour sites and forums.

A quick browse and you will see a pattern of the same posts over and over again. Here are a few typical ones you will see:

"ATH incoming!"

"Today I sold all my BTC to buy _________ and here's why"

"_________ coiling, about to explode!"

"(X/Y/Z) exchange about to add _______!"

"(X/Y/Z) bank about to support _______!"

"Bitcoin about to be overtaken"

and of course, fake news rumor, fake news rumor, fake news rumor.

They're all doomed.

ASHLIUSZ

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Quote from: moviebuff777 on May 07, 2017, 07:44:58 PM

Some of these altcoins could survive as alternatives to bitcoin. I don't think all will just die. Bitcoin and some altcoins could last for a while.

There are few potential altcoins that might survive for longer time period. In the past too users could have never thought dash, doge, and all survive long. But it is strong and altcoins survival increase when it gets used for other purposes same as bitcoin. Right now only for trading purpose altcoins were preferred.

moviebuff777

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Some of these altcoins could survive as alternatives to bitcoin. I don't think all will just die. Bitcoin and some altcoins could last for a while.

2017Bubble

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ETH be like:

SELL SELL SELL

Checlets

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Quote from: 2dogs on May 07, 2017, 07:07:01 PM

Could be a market correction beginning right now....
green is turning red!

so bitcoin benefits because people investing in shitcoins are about to lose out huge when there huge bubble pops and value of there altcoin assets plummet? hopefully we will see a ridiculous amount of new bitcoin investers and, lol, it'd be awesome if btc value went up legitimately(not like a bubble, and pop but went up and stayed up) and even us currently new bitcoin users get a chance to see an increase of the value of the btc we already have! i think when i have the money im going to invest in btc if i can get the money in time and not touch those btc for a while until i see a good return in value. usually i buy btc when i can earn fiat currency and immediately use it.

2dogs

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Could be a market correction beginning right now as everyone tries to exit at the same time....
green is turning red!

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