Topic: To all altcoiners saying bitcoin is dead/dying... (Read 1303 times)

Agreed. Alts focus on the most of the trivial problems (moar nynymyz! moar sakjuure! moar not asikk!) while completely ignoring the most glaringly painful problem of all bitcoin and its clones:

General public does not perceive it as a currency, but speculative pyramid-scheme commodity. And rightly so; given peculiar shape of coin halving distribution.

Whoever invents actual decentralized (ie not ripple) currency with reasonably stable peg to fiat wins. Until then, its not really that interesting, except for dark markets which can appreciate the other properties of bitcoin and make a sacrifice of stable price.

The same goes for bitcoin supporters, bunch of selfish fags down talking every alt that gets popular, i like Bitcoin a lot, but it's supporters suck

Bitcoin Truthers propagate this myth that Bitcoin is still "going mainstream".

No, Bitcoin is already 100% saturated "mainstream"...
Meaning 100s of money transmiitters, most VPNs, every dodgy business on earth accepts BTC.

Nobody is gonna buy milk with BTC... it's internet money...
And the hipsters have moved on... it's something accountants name drop to "prove they're hip".

The ONLY interesting thing is the Alt platforms or specific coins in the Top 50.

It's simple: the only reason people say this is because they're pumping their own coin or coins. It's in their own interests to do so when ironically it's their coin that doesn't have any innovation about it. Bitcoin was the original innovator and it still is the best until something better comes along if ever.

The only reason bitcoin has not yet had any major changes, or crypto 2.0 technologies added is because of the furor any change would cause. It's stayed the same because most people want it that way.

Recently Gavin Andresen proposed a Bitcoin hard fork to address network scalability, and that proposed change is a big deal to plenty of people.

http://www.coindesk.com/gavin-andresen-bitcoin-hard-fork/

I doubt many people would want most of the "crypto 2.0 technologies" added to bitcoin.

Everything is tied to bitcoin. If you think bitcoin will die while other coins survive you're delusional. Look at that Sunday when bear whale cashed out 35k BTC. It was most depressing day...everything went red.

BTC won't die because too many people rely on it for their major profit...they won't let it just die. The moment it dies..it's over for all crypto as well..there is too much money invested in BTC.

Bitcoin can stay relevant if it embraces some innovation. I like Bitcoin and hope it doesn't die out.

Said the horse seller to Henry Ford. 

If you browse altcoin related sections of this forum you're probably already seeing things like the following on a daily basis.

Bitcoin doesn't have any future, crypto 2.0 is on the way to kill it.

Bitcoin has ZERO innovation, look at all the innovative second generation currencies out there.

Bitcoin's price is falling because people started realising innovative coins are worth more.

X innovative coin is undervalued because of Y feature it has N coin with a bigger marketcap doesn't have

And the best of em all,
Bitcoin is dead.

All of the above claims are bullshit in it's pure form. Besides the fact that anyone who says something like that is either a paid shill, or someone who was stupid enough to invest so much into a cryptocurrency he has to self advertise it.

But let me just explain why all this is nothing more than unrealistic optimism about those innovative currencies.

1. They're all closely tied to bitcoin.

Go have a look at coinmarketcap.com right now, on November 02, 2014 bitcoin had a -4% on it's price. What was the result? All other markets were affected as well.

Let's have a look how some of those innovative alternatives did.







Wow, I guess today was a really unfortunate day for innovation, right?

Probably not. Let's see why...

2. Trading

There's a reason those markets are strongly dependent on bitcoin's price movement. The fact that every single time bitcoin's price is down altcoin markets are affected as well isn't a coincidence. In almost all cases, 50% and most of the times even more of the trades are executed in bitcoin markets. For example, only about 0.51% of Monero's trades are done in FIAT markets.  BitsharesX might be an exception to that, having more than 70% of it's trades in CNY markets. But still, graphs suggest that it always suffers from the biggest among the 2.0 family losses whenever bitcoin's price goes down.

3. Volumes and unrealistic market caps

Innovative projects seem to consider PoS distribution something outdated and additionally not responsible towards the environment. What's their solution? They let people buy loads of coins at once and send their money directly to the developers receiving unlimited innovation, euphoria, sparkly designs, and hype in exchange. Many projects manage to maintain some sort of hype and keep their supporters hooked for quite some time, that's probably why we often see such small trading volumes when we compare those currencies to other altcoins (see LTC, DOGE) that aren't even close to being innovative according to their terms. But this makes their market cap unrealistic since most of the coins that exist out there have never entered a market but still add up to the total market cap. This makes such coins extremely vulnerable to big dumps, and a recovery would also be unlikely (See ripple, Monero and many other examples).

In conclusion, all altcoin markets, whether they're the market of a futuristic payment platform that is here to take the concept of bitcoin even further or the market for a shitty project that created a bitcoin clone to crowd fund the venture indirectly they are closely dependant on bitcoin's movement. If bitcoin is nothing, they're nothing as well. No matter how revolutionary they are, there's no space in the crypto market for them to grow bigger than what bitcoin has become, not now, not in the near future and probably not even in the upcoming decades.