Topic: Epic altcoins crash? (Read 1486 times)

no use trying to convince some people.  I find it amusing that all of these people blaming multipools have deluded themselves into thinking everyone else is mining the coin for support and holding it.

No, it just means you don't comprehend what I wrote.

I can't fix that. Only you can fix that. And I wont bother explaining anymore because it would likely be a waste of time.

i saw you just promoted multipool on Jan 2nd, so I guess that makes you a die hard multipool supporter. well, I am fine with that. other than that, your logic does not make quite good sense.

bitcoin goes up value in dollar term, altcoin is priced in btc term. why every one sells altcoin because bitcoin price is rising? unless, someone does not want any altcoin except bitcoin, who is that someone?

same pattern occurs in every market on the planet.
on stocks when bluechips rally penny stock get trashed, after a few days though the penny stock rally, tis why the smart money sells bluechips in rally, buys up penny, sells in their rally and back to bluechip.......daytrading 101.

RE: "Altcoin collapse has nothing to do with btc."

WRONG. FLAT OUT WRONG when huge bitcoin price spikes suddenly occur. Only during modest bitcoin price increases do the alt. coins not get seriously adversely effected, if any at all.

 Sure Autodumping Multipools severely effect shorter term pricing in various alts. But they don't tend to severely crush them, just cause severe swings in the nearer term. And maybe severely impact a few weaker ones.

 I don't support nor mine at any Multipool that Automatically Sells for miners at often terrible prices and with terrible fees to boot. It's foolish to do that. Multipools are okay, but not the ones that dump for too cheap far too often and then tag every miner for a few percent so their bot can automatically dump those coins.
 
 Mining for short term peanuts results in peanuts, that is exactly the wrong way to mine!

 While likely mining the junk instead of the treasures (Masterpieces) which then can be sold whenever later on to grab Bitcoin or whatever as desired which will increase profits greatly if one chooses wisely and is very patient and stands pat during adverse events.

 Aim for 10 times those initial prices after being mined many months later, and by then hopefully their worth at least several times more than they were when first mined, some even returned over 100 times their initial prices in some cases for myself, heck a few maybe 1000 times, I never checked but a few gave enormous gains in 2013. Of course that was then, this is now, no can know what happens next. But compare that AutoSelling at a Multipool to being far too short sited much like a Corporate Executive. And mining blind. Not even knowing what's being mined or if your being fleeced. Wrong play.

 But this is my favorite Non-Autoselling https://www.multipool.us/ and for 2013 it was my favorite pool for a few coins I mined OFF the multipool since I wanted no part of some of those coins at all on their multipool so I stayed on the coins dedicated pool instead there.
Their a great pool, with a secure https connection so your password doesn't travel in plain text, but instead encrypted. And https is far harder to hack so keep that in mind too.


Back to Why That other Statement was so WRONG:

  Your missing something huge. When Bitcoin surges strongly suddenly it's twice as valuable, hence it only requires half as much Bitcoin to equal the same exact amount of any given alt. coin. And why Bitcoins price directly inversely correlates to alt. coin prices if and when Bitcoin suddenly explodes upwards.

 Traders and others tend to flock towards every strong bitcoin rally, and many dump alt. coins to do so. So add that to the arbitrage equation I just spelled out too.




Caveat emptor - let the buyer beware

I can see GPU's being profitable until some sort of FPGA or ASIC actually comes out for Scrypt. Things are starting to slow down, so it will take several months now to make your money back versus only a month like what we saw in November 2013.

Now another question is if the ASIC and or FPGA developers end up using the technology themselves, essentially "premining" all the altcoins (not a 51% but damn near) before they release their products on the market.

Well my guess is that if hyperinflation is coming to the u.s and fiat less and less valuabble, the run on precious mettals and chrypto will be higher then ever ila rather have some shitcoins like some call it then worthless paper to whipe my ass or to burn! Good luck getting your money out of the bank in a whelbarrow!
Ill stick to chrypto all day long! Lets face it alt coin run hasnt even begun, i dont see everybody buying bitcoins at 3000$ but other much cheaper coins!

My vision of a mining crash is simply profitability disappearing for small scale miners; they could switch to more stable currencies, but they would be unable to break even on hardware investment + electricity consumption. GPU graveyard.

I see the alt flood as a possible symptom of a fundamental (yet to be solved) issue with mining. New alts feed mining rigs. If clone coins lose profitability, then what will that mean for the future of small scale miners?

Interesting. But I don't see that happening. The general course that I see is more people mining, and instead of total mining dropping off, people simply switching to more stable currencies. The influx of miners will be more net good than the abandonment of shitcoin mining.

I agree man.

Also, coins that will consistently supported. EX: Earthcoin. If an alt coin has major backing and continues to grow, it will blossom into a money tree.

Handwork to mature a digital currency will not go unnoticed.


EDIT: BTW, there will be always the DOGE coin factor, coins that will go viral over night.

I think that the ones that bring something new to the table will go up with bitcoin while the rest will depend on the miners that own them

A few alts will climb with BTC's market cap. Ripple, Master, LTC, Peer.. etc

And some new faces too. But don't expect all to rise with BTC.

It will be interesting to see how the next gen coins fair compared to Bitcoin descendants.

Altcoin collapse has nothing to do with btc. But everything to do multipool. Before, you got 1000 miners mining a coin, and they keep the most in their own wallet. Now, there is a super miner who miner most coins, but it sells everything it mined for bitcoin instantly.  Where is the bidder for all new coins?

Here is proof why it is multipool's work. B4, in coinwarz, we see different profitability for diff coins. Now, the profitability evens out across the board, no matter shitcoin or potential coin, same profitability.

too many shit coins coming out by the minute with not enough BTC to go around. Idiots think they are cute pumping a coin out every hour... when in reality its killing most other coins.

It's already happening. People used to complain before because coins used to pop up out of no where and everyone would cry foul. Now when a coin tries to have a decent launch, some coingen copy comes along and sabotages it.

It's like the altcoin community has attention deficit disorder. It's not even funny how grim it is now. Oh well, happy mining.

Epic mining crash is more concerning.

Yeah. Well I guess if there's a crash, a change of mentality will follow. And then a great buying opportunity!

I think if the mentality of the altcoin community doesnt change soon, a crash will be inevitable. Right now coins are released every few minutes and most people are just playing the pumpndump game

Confidence grew indeed, but all the good news that are affecting BTC recently have almost nothing to do with alt, so I believe it's possible that bitcoin will soar while the alts stay relatively stagnant.