Topic: Do you think the alt-coin crash is hurting bitcoin? - page 2. (Read 4738 times)

There is no solid case for optimism.
Two days ago I made over 100% in under 3 hours on a hopeless coin.
Those types of returns can keep me going for a while. 

I called this and I knew it would happen people making tons and tons of altcoins so stupid exchanges can't keep up miners cant keep up to many alt coins makes not enough miners to mine = difficulty never going up = anyone can mine and get a lot = worthless I look to Betacoin why? because developers are working behind scenes to create new services I don't think alt coin is dead but I do think it is in a dead zone its still hanging in there what things make bitcoin worth so much? Stores accepting them, Atms, people paying big amounts for them news reporting it you take all those things and apply it to any other altcoin and that altcoin worth money as well.

agreed 100%. Glad some other people notice that alt-coins were a big business for bitcoin. I think it had a much bullish impact to bitcoins than people want to give it.

I think it helped sustain the high bitcoin prices for a long time. Now that this is over, bitcoin should fall back to sustainable levels.

maybe you can argue this point about Bitcoin, but I can't see how alt-coins can turn themselves around.

I have been preaching in the alt-coin forum many months ago that the growth rate is way too high and there is absolutely no way the prices can be sustained. To top it off all the alt-coins basically share the same investment money. Lets not forget about the miners who will all mine the most profitable coin to dump.

When things look hopeless, and prices are down ~80 to 90% you have a perfect time to:
Buy, or give up and sell the rest off cheap?

Nah, The alt-coins have never really had a bit impact on bitcoin. Dogcoin is probably the only one that has, because it brought some people into the cryptocurreny world who were not interested before. Still, copycats continue to be nothing more than a footnote.

The 100+ diferent coins are collapsing under their own weight of dilution and its about time ....

When you are cutting coke and if you just keep cutting it all you end up with is somtheing you would use to bake a cake

There are a handful of alts that bring something to the table ...all the rest are junk

Winter is Here ..its not COMING ...lolz .... its time to rebuild consolidate and look forward to a more mature crypto future

A future that does not have 101 clones of litecoin

I definitely think that there is a significant impact with the scamming, pump and dumps, crashing, hacking, etc. of many things in the alt-coin scene. It causes a relatively new market segment to go away and the hacks also contribute to driving the price down as those bitcoins are continuously laundered and cycled so that they can be dumped.

Yes. I think nubs have been damaging their portfolios like ships over rocks in these slow and uninspiring times. the litecoin bubble hurt a lot of people, those who have been stung by a pump and dump will be timid to enter bitcoin.

Yes.

Altcoins are now mostly dead to the threats/FUD about btc-e, and alt-coins were one of btc's biggest businesses.  This represents yet another sector of the market leaving, like gox and China. Now people are selling their bitcoins instead of holding them on altcoin exchanges to trade altcoins and there is a reduced incoming interest into crypto as well.

Buy high sell low repait until broke.

Buy Low!  (or sell low and buy back lower)
MEOW went up over 100% just a day or two ago...........lol?
https://www.cryptsy.com/markets/view/149

Some risky things are safe if you get a good enough price.

That was your mind? Thought it was arepo´s 


You just confirmed it 

Haha, forget it.

Still bullish on LTC, because desperation.

LTC/BTC pair still has potential for upside move. 6h indicators looking good.

If a prolonged bear market develops in BTC, one could speculate that some alts will decouple and push in the opposite direction.

We never had a prolonged BTC bear market with serious alt competition.

Even then investors in PMs would have to accept the fact. Noone would complain about facts - they tend to be there despite human wishful thinking.

EDIT: If true, that bitcoin has a superior design the "shitty" alts will go away. But this is not a fact right now, it is speculation time.

are the altcoins crashing?

Litecoin's mini-bubble just burst, but that was completely due to bitcoin speculators seeking short-term profits. it's simply tracing out the same bubble pattern as Bitcoin, and i see no fundamental reason for it to trace all the way back to pre-November prices.

i think the crypto-despair is infecting the other coins, but sentiment lows are always the best time to buy

--arepo

Very few altcoins really have ever appealed to me.  I first started with Litecoin, as most people getting into Crypto in October of last year.  I was lucky to buy a few at $9 via paypal in some IRC's.  I was able to watch them almost hit the $50 mark as I assumed they would because I was seeing prices on Ebay that people were willing to pay jujst because they had no freaking way to get them!

I was then sucked into Worldcoin for a while just because it was beautifully done and I didn't understand transaction times and speeds and security and how it all played together in the blockchain.  I was still very uneducated at this point.

After selling my Scharmbeck shares at their peak and getting out or Worldcoin once I finally realized the one simple fact that "Holy shit you guys, we need to stop distracting our community with all these altcoins and preach the BTC Gospel, because in the end, its the only coin that matters".

I did my research and I am glad I didn't buy in when the peaks were high, but I have been constantly buying BTC during crashes because unless Coinbase and Bitstamp die overnight, crypto will trek on forward, with not much except huge government regulation cascading on its growth.


Now I am a BTC Miner, I have 5 Antminers, an S2 Pre-order, and I pay for almost everything I possibly can in BTC, thats no joke.  I realize the great potential of some altcoins. Tthings like Namecoin, and Vertcoin appeal to me for different reasons (I only have the latter), but in the end BTC is all that matters.  We are way too much in our infancy for anyone to care about ASIC resistance.  Way too much in our infancy for anyone to take Namecoin is the possible DNS solution of the future, and certainly way too much in our infancy to convince merchants to accept anything other than bitcoin if they aren't already taking bitcoin.

So what do we do?  We need to get our fucking hussle on and set up our friends and local businesses with Online wallets and payment services.  If they ever get a significant amount, teach them about securing paper wallets and importing them and the like.  Maybe eventually explain mining to them in rudimentary terms.  It is going to be an uphill battle.  But my recommdation is this:  if you own altcoins, thats great, don't be a leach speculator and maybe help their community when time allows, but don't kid yourself into thinking that BTC shouldn't be EVERY HODLers TOP priority.  We have a huge fucking PR problem on our hands, and you all need to set a good example by not being an asshole or pretentious exclusionary piece of shit, but really to take the time to calmly and concisely explain why bitcoin makes sense; why its an important piece of technology, and why they should at least take the time to understand it.  Getting people on board with bitcoin is much like getting a woman to go home with you; you have to be cool in order for them to care; confident in order to make them interested; and to the point in order for them to make that leap.

Aaaaaaand that just turned into a speech.... /facepalm

tl;dr:  Sure fuck around with altcoins, there are some cool ones, but make bitcoin priority!

No, but a goldbug would complain if there were over 100+ other shitty PM derivatives created in the lab that were all sucking $$$ away from those 4-5 main natural ones that exist.  Luckily for the goldbug, true PM alchemy doesn't exist... yet.