So Btc takes a hit again. Alt coins impact for Btc explained, maybe

randy8777

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Quote from: techgeek on April 14, 2015, 07:57:50 PM

I think if we cleaned out most of the alt currency like doge coin included, litecoin and having just 1 coin.

It would probably increase the value, but the reason for alt coins is cause most people just decided to pump and dump it to make back into bitcoin so its more of a profit situation.

more and more people realize that altcoins don't serve any purpose. dogecoin and darkcoin seem to have real support from a lot people but the rest of altcoins are just flyby coins.

Amph

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Quote from: ?? on ??

What alt pump do you think it was that caused this?

there are none to be honest, don't know what is the source of the OP, because last i checked altcoin scene is even more dead than bitcoin

Quote from: paytplay on April 14, 2015, 12:23:00 PM

I seems to me that every time a hardcore pump happens with an alt coin, lately also known as crave, which was the last great event, the price of Bitcoin drops. I see this as newcomers taking advantage of the crypo market, that bought into a pump group and took their profit asap. I do not feel that any crypto savvy folks would just sell their profits at the current price. I guess i could write it off as shit happens, but taking advantage of a unstable market and making it more unstable just equals total disaster.

it's not always true, because dumping btc for fiat and buy altcoin, is much slower and less anon, than buying bitcoin and then using it for pumping altcoin, so no, pumping alcoin should increase btc price, like it happened with auroracoin

techgeek

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I think if we cleaned out most of the alt currency like doge coin included, litecoin and having just 1 coin.

It would probably increase the value, but the reason for alt coins is cause most people just decided to pump and dump it to make back into bitcoin so its more of a profit situation.

pereira4

legendary

Activity: 1610

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Quote from: paytplay on April 14, 2015, 12:23:00 PM

I seems to me that every time a hardcore pump happens with an alt coin, lately also known as crave, which was the last great event, the price of Bitcoin drops. I see this as newcomers taking advantage of the crypo market, that bought into a pump group and took their profit asap. I do not feel that any crypto savvy folks would just sell their profits at the current price. I guess i could write it off as shit happens, but taking advantage of a unstable market and making it more unstable just equals total disaster.

I keep hearing about this crave thing and somehow totally missed it. It isn't even on poloniex? whats the link and why did I got an huge pump? is just pure speculation or its a good asset?

ashour

sr. member

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I don't think so, more bitcoin are dumped than bought each day, that causes a price drop. Many services like bitpay, coinbase etc sell HUGE bitcoin amounts each day to convert it to dollars and that causes a huge price drop since the buy support can't hold it.

paytplay

full member

Activity: 147

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I seems to me that every time a hardcore pump happens with an alt coin, lately also known as crave, which was the last great event, the price of Bitcoin drops. I see this as newcomers taking advantage of the crypo market, that bought into a pump group and took their profit asap. I do not feel that any crypto savvy folks would just sell their profits at the current price. I guess i could write it off as shit happens, but taking advantage of a unstable market and making it more unstable just equals total disaster.

Topic: So Btc takes a hit again. Alt coins impact for Btc explained, maybe (Read 845 times)