This is total nonsense. Who cares about some unrelated altcoin that works under a different blockchain? it's not bitcoin, that altcoin can go and die, so what, bitcoin is growing and making great gains for holders, we are about to see the best year on bitcoin ever, 2017 will be glorious, altcoin fudsting is veyr noneffective. It's just sad to see all those shills pumping coins while claiming how bitcoin is doomed.
Hmm,
The people that believe their Alt is better & more sustainable than BTC.
BTC is a crap coin , it is old & slow, and having an internal power struggle between the BTC core (LN=Bankers) and the Chinese Miners.
Make no mistake , this year BTC price is nothing more than a pump , the dump comes in 2017.
BTC reached it's peak in Nov 2013 of ~
$1275, so technically it has been and still is a
LOSER from over 3 years.
This makes non sence to me,
yes there is a struggle,
yes the transaction speed is slow, but i don't think thant bitcoin will drop mainly because of the increasing acceptance, at a moment they will be forced to work together in order to either maintain the price, any way, they will solve the struggle, and the dump you are talking about can't really happen unless miners decides to stop mining. Even in this case, Altcoins will fill the space left by Bitcoin, there are a lot of users here supporting them, the scam coins can be easily identified, so as legit coins, it will be up to the end-users to decide.
You see the Struggle, You know it is slow.
What many people don't get, is the price is only going up because less people are using it to buy goods & services.
When you spend BTC on physical goods, the vendor immediately converts it to FIAT,
to avoid the price fluctuation which could have made them sell a product for less than what they paid for it.
This causes a downward price pressure , until a leveling off occurs of people buying it to spend.
BTC Volume is eons away from showing a leveling off, that would create a stable price.
Right now Only a bunch of speculators & day traders are holding , but with the market only going up, means actual usage as a currency is not happening.
IE the pump.
Now After Jan 1st , those speculators will be able to cash out to FIAT and it will be 2018 before they have to worry about the taxes in the US.
(Speculation is the U$ Dollar will grow much Stronger, holding BTC will be too risky in comparison.)
Also at some point Those miners are going to have to update those ASICS, and they will dump their BTC to afford more.
IE: The Dump
(Scheduled in 2017)