Will it help bitcoin if we shift funds to it ? - page 4.

acroman08

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Quote from: Wysi on October 19, 2019, 03:50:07 PM

We are all aware that the bitcoin is the last hope when the other altcoins including Ethereum are struggling to survive and even bitcoin has not had any massive pump as it's fighting hard to stay on $8,000 despite numerous fluctuations but will it help bitcoin if we just move our funds to bitcoin which we have invested into altcoin as it will increase the demand of bitcoin if everyone can do that as this will literally do what the whales have been doing to increase the price when they want by creating the demand.

it could work if people shift their funds to bitcoin at the same time, but if not. then it will just fail. the reason why whales can influence the price of bitcoin is
that they have such a large quantity of bitcoin that they can pump or dump the price in just one transaction that is why a lot of people believe that whales control the
price because of that.

Zeke_23

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Quote from: Wysi on October 19, 2019, 03:50:07 PM

We are all aware that the bitcoin is the last hope when the other altcoins including Ethereum are struggling to survive and even bitcoin has not had any massive pump as it's fighting hard to stay on $8,000 despite numerous fluctuations but will it help bitcoin if we just move our funds to bitcoin which we have invested into altcoin as it will increase the demand of bitcoin if everyone can do that as this will literally do what the whales have been doing to increase the price when they want by creating the demand.

Two possible things to happen if we ever switch our funds from altcoin to bitcoin

1. We will see a massive dump in the market that we have never seen. The demand will decrease and the market will only suffer,

2. Bitcoin will increase its demand but it will be limited. If ever that investors will switch their altcoins to bitcoin, then who's gonna take all altcoins? No buy orders will be bid if all investors will only invest in bitcoin.

BlackFor3st

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Quote from: Wysi on October 19, 2019, 03:50:07 PM

We are all aware that the bitcoin is the last hope when the other altcoins including Ethereum are struggling to survive and even bitcoin has not had any massive pump as it's fighting hard to stay on $8,000 despite numerous fluctuations but will it help bitcoin if we just move our funds to bitcoin which we have invested into altcoin as it will increase the demand of bitcoin if everyone can do that as this will literally do what the whales have been doing to increase the price when they want by creating the demand.

You have your point but in your statement you are saying that we will just abandoned the other coins just to save the bitcoin as it is the only coins that is fighting right now despite numerous fluctuations.

If we are going to follow your opinion, the demand of bitcoin will surely increase and other coins/altcoins will start to die. Do you think it is a bright idea?

For me it's not as it is like we are going to monopolize the crypto market which is not good and we will end up losing our investment in the long run as others will surely use this opportunity to gain huge amount of profits especially the influential people like whales,exchanges and etc.

Kyraishi

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Quote from: Wysi on October 19, 2019, 03:50:07 PM

We are all aware that the bitcoin is the last hope when the other altcoins including Ethereum are struggling to survive and even bitcoin has not had any massive pump as it's fighting hard to stay on $8,000 despite numerous fluctuations but will it help bitcoin if we just move our funds to bitcoin which we have invested into altcoin as it will increase the demand of bitcoin if everyone can do that as this will literally do what the whales have been doing to increase the price when they want by creating the demand.

I mean, it'll definetly increase the price of Bitcoin and pump that upwards in the market, but there are 2 consequences and problems that will come of that.

1. Not everyone wants all their money in Bitcoin, especially in the current market and it will be very hard for you to convince whales to shift all their funds over to a specific crypto.

2. Other people have investments in altcoins and when they shift those funds over we will see a huge dump in those markets. No doubt it'll be all red in the altcoin side of things

Janation

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It will create a movement but with a lot os users, you don't need to do that.

Whales don't really invest all of their money into cryptocurrency.

They still have other investments to maybe other cryptocurrencies or stocks and I am not really seeing whales reinvesting again since they are just all waiting, maybe trading some of them just circulating their investment and getting maximum profits they can get out of it. I don't know what whales are doing right now but we all want to maximize the profit we are getting and we can't just get that alone on Bitcoin.

CryptoBry

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Quote from: Wysi on October 19, 2019, 03:50:07 PM

We are all aware that the bitcoin is the last hope when the other altcoins including Ethereum are struggling to survive and even bitcoin has not had any massive pump as it's fighting hard to stay on $8,000 despite numerous fluctuations but will it help bitcoin if we just move our funds to bitcoin which we have invested into altcoin as it will increase the demand of bitcoin if everyone can do that as this will literally do what the whales have been doing to increase the price when they want by creating the demand.

Naturally, when we transfer all of our alts we are holding into Bitcoin then it can tremendously increase the demand and possibly influence the price higher. Now, the only problem is how to tell and how to convince all people holding alts to do this suggestion. The market is getting bigger and the people in crypto is steadily increasing. And, of course, people are also looking at the risks involved. When they think that Bitcoin's bearish mood has not yet bottomed out then entering at this stage may not be the best idea. I am sure though that we can eventually weather this temporary station where Bitcoin is at so let's just relax, continue watching the market while maybe drinking some beer or for some coffee or tea.

peter0425

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Market won’t go far if only bitcoin will pump and shifting our alts to bitcoin it isn’t necessary that the pump will come from new incoming investments so the alts will go with the prices

And it’s not considered as healthy market if we will only make grow the top rake currency when the altcoins will fall hardly

Tipstar

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Quote from: Wysi on October 19, 2019, 03:50:07 PM

We are all aware that the bitcoin is the last hope when the other altcoins including Ethereum are struggling to survive and even bitcoin has not had any massive pump as it's fighting hard to stay on $8,000 despite numerous fluctuations but will it help bitcoin if we just move our funds to bitcoin which we have invested into altcoin as it will increase the demand of bitcoin if everyone can do that as this will literally do what the whales have been doing to increase the price when they want by creating the demand.

To be real, a large rise in price of bitcoin could have a negative effect on it's age. For a balanced growth, bitcoin along with the good altcoins should have a gradual increase in price that is backed by the adoption by new users. Bringing in new users would be the best thing for bitcoin. Though putting all your saving in bitcoin could be a profitable move for yourself.

Astvile

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If we were to shift our funds from altcoin to altcoin surely that will create a huge demand and sudden price pump but it will be considered as a "bubble". Plus that the pump we will create in a sudden will surely be gone in a moment too whenever the last of fund shifter is done buying bitcoin. Altcoins is still an important part of cryptocurrency too and it helps bitcoin a lot.

Wintersoldier

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Quote from: blckhawk on October 19, 2019, 08:34:30 PM

Quote from: Wysi on October 19, 2019, 03:50:07 PM

We are all aware that the bitcoin is the last hope when the other altcoins including Ethereum are struggling to survive and even bitcoin has not had any massive pump as it's fighting hard to stay on $8,000 despite numerous fluctuations but will it help bitcoin if we just move our funds to bitcoin which we have invested into altcoin as it will increase the demand of bitcoin if everyone can do that as this will literally do what the whales have been doing to increase the price when they want by creating the demand.

It could create a pump in the market, but I don't think it would last. Doing so what you have suggested would indeed increase market value of Bitcoin, but crash and probably remove altcoins in the market, which is bad in the long term. Altcoins somehow still help bitcoin's market to grow through trades, exchanges, etc. from bitcoin to altcoins. If no altcoins exist, bitcoin would only be exchanges to USD, or be used for transfers, which would slow down the market. Sooner or later, it would be no use, people would lose interest, its value won't grow and people may abandon it one point in time.

Technically in an investment platform, the demand is determined by the market cap of a certain asset. They need each other in a sense that there is a competition among the rest. This competition is by then, determining the demand and market price of each asset. In comparable to cryptocurrency, if all will be transferred to bitcoin, no competition will happen and the market might freely deciding the market price of bitcoin.

blckhawk

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Quote from: Wysi on October 19, 2019, 03:50:07 PM

We are all aware that the bitcoin is the last hope when the other altcoins including Ethereum are struggling to survive and even bitcoin has not had any massive pump as it's fighting hard to stay on $8,000 despite numerous fluctuations but will it help bitcoin if we just move our funds to bitcoin which we have invested into altcoin as it will increase the demand of bitcoin if everyone can do that as this will literally do what the whales have been doing to increase the price when they want by creating the demand.

It could create a pump in the market, but I don't think it would last. Doing so what you have suggested would indeed increase market value of Bitcoin, but crash and probably remove altcoins in the market, which is bad in the long term. Altcoins somehow still help bitcoin's market to grow through trades, exchanges, etc. from bitcoin to altcoins. If no altcoins exist, bitcoin would only be exchanges to USD, or be used for transfers, which would slow down the market. Sooner or later, it would be no use, people would lose interest, its value won't grow and people may abandon it one point in time.

Beparanf

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It will not help a lot. Even we shift our funds, some whales might consider buying more alts that time since it's cheaper, and I doubt if many will really buy back BTC when we do that, some might just waiting for us to sell their holdings. This is why whales manipulate the market, they do it without many people known it as if it just a playtime for them to buy it for them at discounted price again.

jakelyson

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Quote from: Wysi on October 19, 2019, 03:50:07 PM

We are all aware that the bitcoin is the last hope when the other altcoins including Ethereum are struggling to survive and even bitcoin has not had any massive pump as it's fighting hard to stay on $8,000 despite numerous fluctuations but will it help bitcoin if we just move our funds to bitcoin which we have invested into altcoin as it will increase the demand of bitcoin if everyone can do that as this will literally do what the whales have been doing to increase the price when they want by creating the demand.

It could help the price to move up but only short term. It would just look like a pump and somebody else will dump on us. What bitcoin need is new money coming in. Generic growth, not an artificial pump, is more sustainable and less P&D.

bitbunnny

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Why do you think at first place that Bitcoin needs help? This obviously shows desire of some users to have control over price and market somehow.
Even if your suggestion worked that can't be feasible. How would you know how much users engagement would be enough and how would you pursue users for buying?
Don't drean about the.influence on Bitcoin, you will not succeed.

pixie85

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This is what happens when people notice the real value is in Bitcoin. Altcoins had their boom when Bitcoin was pumping and people were fooled by altcoin gains that could go from 0 to 500% in days. Bitcoin with its 1000% a year gains looked weak compared to that and people are greedy. Now all the bagholders are thinking about dumping everything and going back to Bitcoin which isn't that great because when you lose 80% of your investment the worst thing you can do is panic sell. The time for panic selling was when you were 30% down.

YuginKadoya

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Quote from: Wysi on October 19, 2019, 03:50:07 PM

We are all aware that the bitcoin is the last hope when the other altcoins including Ethereum are struggling to survive and even bitcoin has not had any massive pump as it's fighting hard to stay on $8,000 despite numerous fluctuations but will it help bitcoin if we just move our funds to bitcoin which we have invested into altcoin as it will increase the demand of bitcoin if everyone can do that as this will literally do what the whales have been doing to increase the price when they want by creating the demand.

If that will happen in my opinion the market will never be the same Bitcoin will sure pump so much if all Altcoin holders would shift it to Bitcoin but what may happen to altcoin, But if we are like whales that would eventually give their all to this matter but actually if I remember correctly I have watched a Youtuber once and he said that if the market is bear and the price of bitcoin is going down then the pretty smart thing to do is to just close your wallet and just sleep and revert your mind to other stuff or just sell all Altcoins and revert it to Bitcoin, Because Bitcoin is the first cryptocurrency and even though you had given a portion of Altcoin back to Bitcoin Altcoin will just stay but if Bitcoin would be gone in the market so do Altcoins.

qiman

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We need a lot more people to participate in buying and holding Bitcoin as a long term asset. We need everyone involved, including the currently unbanked people. Only when we get the really big mass adoption and widespread holding of Bitcoin will we see its true prowess and power and the more and more people own and hold like they do Gold, the less likely it is to be manipulated to this level of volatility, So we need a lot more widespread holders of Bitcoin to emerge now.

Wysi

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Quote from: Pearls Before Swine on October 19, 2019, 04:01:50 PM

The question op is really asking is whether bitcoin will go up if a bunch of us buy it, and whether altcoins are sold to finance this is irrelevant. I have no clue what bitcoin would do in such a case, but more buying usually means a higher price assuming there are more buy orders than sell orders.

This is yet another gloomy thread about the state of bitcoin and alts, but the situation is nowhere as bad as some may lead us to believe. Everything is just down right now, but things can and will improve. If people give up on crypto, all the coins are going to tumble. I don't think any of us want that despite how bleak things may seem.

Yes you got it what I am trying to ask as the situation quite difficult to understands as there are two ways to look at it wherein the first one being everything is low right now and things will improve it's just a matter of time, other way is little scary thought wherein we have not seen any major transition in the value of altcoins from long time and probably it's back to it's original value after unexpected pump during the bull run at the end of 2017, let's hope for the best as 2020 might play a vital role and things will change for better.

Pearls Before Swine

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The question op is really asking is whether bitcoin will go up if a bunch of us buy it, and whether altcoins are sold to finance this is irrelevant. I have no clue what bitcoin would do in such a case, but more buying usually means a higher price assuming there are more buy orders than sell orders.

This is yet another gloomy thread about the state of bitcoin and alts, but the situation is nowhere as bad as some may lead us to believe. Everything is just down right now, but things can and will improve. If people give up on crypto, all the coins are going to tumble. I don't think any of us want that despite how bleak things may seem.

d.kevin29

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Edit: Just read the thread once again and found out I actually misunderstood. Re-writing now and adding a follow-up edit later..

Edit 2, with proper reply: The market would be, indeed, influenced by these moves. Moving from alts to Bitcoin means selling alts and buying BTC instead. Therefore, it means negatively influencing the price of the alts you're holding and positively influencing BTC's. This happens a lot when those insane 2017-like price changes take place, so it's something usual and the same thing applies for a vice-versa movement: moving from Bitcoin to alts means selling Bitcoin and buying alts, so the opposite effect takes place on its price.

Quote from: AB de Royse777 on October 19, 2019, 03:53:41 PM

I think no one has this idea how the market will react.

I think the history of Bitcoin & alts sharp price movements are enough proof to show how markets would react. But it needs enough volume to influence the entire market and not just one exchange, so good luck with that unless you're holding millions of $.

-----

No. All moving funds helps with is creating fake volume, and unless you have millions nobody would care about your transactions. Otherwise, you'd have those whale-watchers who do care about the big sums and would play the markets based on the moves. If the inputs/outputs are unknown though, again, it doesn't help at all.

Artificially changing an asset's price does not make it stronger at all. In fact, it's quite the opposite. It's short-lived and even if you were able to easily influence it, you would only be able to profit in the short term.*

Whales are moving huge sums around almost every day (if not daily, I don't really check these transactions often at all), and whenever a huge amount is sent to an exchange wallet address, the speculators will guess the whale is about to sell. In case the opposite happens (the money is coming from an exchange wallet to a private one), the opposite thing is being speculated (they are either about to hold or spend their huge amounts).

Therefore, shifting funds all day long would only result in a lot of small transaction fees summed up for no visible (or even if visible, they're short term) results.

*You can profit off the influence on the short term only if you know how to handle the markets well enough. And still, it isn't worth it in my opinion.

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