Every Atl Coin STEALS Dollars away from Bitcoin....

GigaCoin

sr. member

Activity: 308

Merit: 251

Giga

Quote from: bitrebel on December 10, 2013, 03:00:17 AM

...and so far, Quark is stealing the MOST, the FASTEST.
Shocked

http://coinmarketcap.com/

There is not 1 dollar invested in Alt coins that would not be invested in bitcoin were it not for the competition.
That should tell you something.

The Slow Growth of Alt Coins = The Slow Death of Bitcoin - or at least, it's proportional to a degree.
There is SO MUCH MORE money to be made in the Alt coin explosion.

Altcoins induced more Bitcoin buying, since people use mainly bit coins to invest in alt coins and increase their bitcoin holding. People take their altcoin profits in bitcoin not USD.

So on the contrary, ALtcoins help keep bitcoin's price high infact i believe we never saw a massive crash due to bitcoin buying for altcoin investment.

kelsey

legendary

Activity: 1876

Merit: 1000

Whats dollars have to do with bitcoin, wasn't it meant to be an alternative to fiat?

mercSuey

sr. member

Activity: 364

Merit: 250

The world's money supply is huge. There will be many winners, each coin with their own niche and community and network of merchants. These are interesting times.

jubalix

legendary

Activity: 2632

Merit: 1023

no,

altcoins make competition which make bitcoin evolve, or another to gain the crown . In any even there are 100's of currencies in the real world and even monopoly money.

The legitimacy comes from the dev teams behind them.

See how many crypto's have already fallen by the way side already.

RenegadeMind

copper member

Activity: 1380

Merit: 504

THINK IT, BUILD IT, PLAY IT! --- XAYA

Truth is, we don't know. Do alt coins attract more people that wouldn't otherwise get into the crypto currency ecosystem? Maybe. Maybe not.

It's just a matter of speculation and guesswork. I'd guess that alt coins do more good than harm for reasons that I'm just too damn lazy to type out.

champbronc2

hero member

Activity: 490

Merit: 500

I love all you idiots buying these worthless alts.

Gonna turn me into a millionaire Roll Eyes

(okay not quite)

BrewCrewFan

hero member

Activity: 672

Merit: 501

Quote from: TeeBone on December 10, 2013, 03:27:03 AM

This is just the tip of the iceberg, as more and more realize that there's nothing bitcoin can do that other coins cant and at a fraction of the price, the whole market will get diluted and btc's exchange price will drop like a rock. A key event, imo, is when litecoin hits $100 usd (and it will). Psychologically, that could do alot of damage to btc. Funny though how you see the btc cult starting to detect this threat and scrambling to discredit any alt-coin.

The scare is nothing new. We went though this earlier this year once already. Its funny how free market these very same people are, yet they dont want the competition.

TeeBone

sr. member

Activity: 502

Merit: 251

This is just the tip of the iceberg, as more and more realize that there's nothing bitcoin can do that other coins cant and at a fraction of the price, the whole market will get diluted and btc's exchange rate will drop like a rock. A key event, imo, is when litecoin hits $100 usd (and it will). Psychologically, that could do alot of damage to btc. Funny though how you see the btc cult starting to detect this threat and scrambling to discredit any alt-coin.

digicoin

legendary

Activity: 1106

Merit: 1000

Quark brings nothing new to the table. It has some marketing power but that attempt will not last long. In near future I believe that StableCoin has more potential than Quark. StableCoin offers fast but stable confirmation speed, fair reward model ....

BrewCrewFan

hero member

Activity: 672

Merit: 501

Quote from: bitrebel on December 10, 2013, 03:10:09 AM

Quote from: billym2k on December 10, 2013, 03:04:43 AM

It is precisely the opposite.

Without altcoins, right now, everyone would need ASICs to mine bitcoin. That would drive people away.

Altcoins give people with average or better computers something to mine.

Altcoins get people into cryptocurrency and staying interested in cryptocurrency without a huge investment.

Altcoins provide something for people to speculate on and trade their bitcoins for.

Altcoin values SUPPORT bitcoin, not the other way around.

When bitcoin crashes, altcoin prices also crash. They are tied together directly.

Good points made, but they still STEAL AWAY money that would be invested into bitcoin, were it not for the competition.

In other words, the combined market cap of all Crypto Currencies would be slightly less were it not for the competition, but at the same time, all that money would be in bitcoin instead.

Nope. Your looking at it wrong. If it was NOT for alt coins, which give many newbies and casual users the chance to mine, your not going to draw 1/4 of the people that are intrested in it now. Instead you have more of a pool of money.
I do agree it may take a bit away from BTC, on the other hand it also opens up a ton more money changing hand indirectly and going into alt coins.

bitrebel

sr. member

Activity: 364

Merit: 251

Quote from: billym2k on December 10, 2013, 03:04:43 AM

It is precisely the opposite.

Without altcoins, right now, everyone would need ASICs to mine bitcoin. That would drive people away.

Altcoins give people with average or better computers something to mine.

Altcoins get people into cryptocurrency and staying interested in cryptocurrency without a huge investment.

Altcoins provide something for people to speculate on and trade their bitcoins for.

Altcoin values SUPPORT bitcoin, not the other way around.

When bitcoin crashes, altcoin prices also crash. They are tied together directly.

Good points made, but they still STEAL AWAY money that would be invested into bitcoin, were it not for the competition.

In other words, the combined market cap of all Crypto Currencies would be slightly less were it not for the competition, but at the same time, all that money would be in bitcoin instead.

billym2k

full member

Activity: 126

Merit: 100

It is precisely the opposite.

Without altcoins, right now, everyone would need ASICs to mine bitcoin. That would drive people away.

Altcoins give people with average or better computers something to mine.

Altcoins get people into cryptocurrency and staying interested in cryptocurrency without a huge investment.

Altcoins provide something for people to speculate on and trade their bitcoins for.

Altcoin values SUPPORT bitcoin, not the other way around.

When bitcoin crashes, altcoin prices also crash. They are tied together directly.

Peacefrog

full member

Activity: 213

Merit: 100

never thought of it like that but it makes sense

bitrebel

sr. member

Activity: 364

Merit: 251

...and so far, Quark is stealing the MOST, the FASTEST.
Shocked

http://coinmarketcap.com/

There is not 1 dollar invested in Alt coins that would not be invested in bitcoin were it not for the competition.
That should tell you something.

The Slow Growth of Alt Coins = The Slow Death of Bitcoin - or at least, it's proportional to a degree.
There is SO MUCH MORE money to be made in the Alt coin explosion.

Topic: Every Atl Coin STEALS Dollars away from Bitcoin.... (Read 918 times)