Topic: Loyalty to Bitcoin (Read 517 times)
As we speak Bitcoin has broken through 700 again on MtGox- it was stuck in the $600s most of the day. It's at $722.
You support bitcoin by the very act of merged mining altcoins, and bitcoin reciprocates by supporting your merged mined altcoins.
So there is no inherent conflict necessitated by using and supporting alt coins; it is mainly just those that could have been made capable of merged mining but chose not to that are being unsupportive and, of course, thereby ultimately (it is mostly just a matter of time) screwing all their investors who don't get out in time before the pretty much inevitable ultimate train-wreck.
-MarkM-
So there is no inherent conflict necessitated by using and supporting alt coins; it is mainly just those that could have been made capable of merged mining but chose not to that are being unsupportive and, of course, thereby ultimately (it is mostly just a matter of time) screwing all their investors who don't get out in time before the pretty much inevitable ultimate train-wreck.
-MarkM-
There's really no reason for altcoins to crash when BTC does,
yes there is a good reason: you can't get USD or real money out of most altcoins without converting to bitcoin.the reason why BTC prices are tied to LTC and everything else is becuase without btc, the other coins cannot be transacted except for other cryptos.
It is true. For now. Bitcoin is the leader. People follows the leader. But at some points in time, when Bitcoin teach people enough about what cryptocurrency is and how it works to make people feel safe when holding and spending it, Bitcoin can create a chance for some altcoin to stand alone.
Bitcoin is a just a block chain. Single block chain is unable to rule all because of risks related single point of failure and scalability.
When Bitcoin becomes too expensive, people tends to hoard it instead of spending it. That's the problem.
There may be 1000 altcoins but there will be 1 or 2 to survive. This is a game or gamble. If you pick the right ones, you will have big profit
When Bitcoin becomes too expensive, people tends to hoard it instead of spending it. That's the problem.
There may be 1000 altcoins but there will be 1 or 2 to survive. This is a game or gamble. If you pick the right ones, you will have big profit
There's really no reason for altcoins to crash when BTC does,
yes there is a good reason: you can't get USD or real money out of most altcoins without converting to bitcoin.the reason why BTC prices are tied to LTC and everything else is becuase without btc, the other coins cannot be transacted except for other cryptos.
There's really no reason for altcoins to crash when BTC does, with the possible exceptions of Litecoin and Feathercoin (and similar) since they're partially betting on Bitcoin becoming too valuable/high-fee/cumbersome for everyday use.
What really deserves money are altcoins which fill distinct niches independent of Bitcoin.
What really deserves money are altcoins which fill distinct niches independent of Bitcoin.
I really like, and buy alt. coins, and I can see how they can be very profitable, but do you ever feel like you want to support/buy Bitcoin because it is the crypto-coin that has paved the way for all the others? Times like this it seems to need support - to get out of the $600's - that would encourage lots of the big investors and discourage selling out of fear and help it recover from the latest crash. When Bitcoin does well, all the other crypto currencies are pulled along with it.
Jump to: