Bitcoin Forum

I really think altcoins are a bubble just like dotcom bubble.
You know dotcom bubble was the caused because people rushed to buy technology companies shares.but the problem was that most of  these tech companies did not even have a product or even a plan to have a product.they were just in for the money they can grab.
I believe altcoins  are just like that.most of them are just fancy scams looking to get money.
And when that bubble bursts bitcoin will be shaked but will stand its ground.
dotcom bubble paved the way for real companies with a plan to grow.
And there came Amazon,Google,Apple.
Bitcoin will be very very valuable.
Right or wrong I am seeing pre dotcom bubble Amazon in bitcoin. the price of a Amazon share was 108 dollars, after the burst it was 8 dollars.Look at what it had become.
I know this is not a great comparison but this is my honest thoughts and belief in bitcoin.

Bitcoin will be the only survivor among cryptocurrencies

If the bitcoin will become the only crypto currency available in the future then the bitcoin price will go to moon but it will become unusable because of too much expensiveness.The main reason for the invention of bitcoin is to be used as currency so don't expect it to be only in the hands of millionaires.If we want the crypto currency system in the future we need bitcoin as well as the altcoins.

While I definitely agree that most altcoins have nothing to add to what bitcoin already has, I can't agree that bitcoin is much different from the rest of the pack. If you take any of the major altcoins like dash or litecoin, they can easily substitute bitcoin and you won't see any particular difference in general. Well, strictly speaking, there will be a difference after all, and to the better in terms of transaction speeds and costs. All in all, it is more like first come first served, but apart from that, there is nothing in bitcoin which other coins don't have.

Thanks man. That has got to be the single funniest/biased title I have ever seen.
To reply, I'd say
The FUD market bubble burst won't happen but if it did, Bitcoin would most certainly be among the worse affected.

The reason why it won't happen is that the crypto market is 24hrs a day and the continual exits are reflected in the volatility of crypto markets.

There are just two ways it could happen though.
1, If someone invents something much better at solving the same problems as crypto tech,
2. If Quantum computing cracks current encryption algorithms.

Not sure why you seem to think that Bitcoins stands apart from other blockchains.

Blockchain innovation is happening so quickly and Bitcoin will be carried by future blockchain inventions. Even as the industry stands today, Bitcoin could be improved by some altcoins. My point is, the altcoins we will see in the next 5 years will make Bitcoin less significant not more.

I'm getting tired of people repeating the same shit. Crypto bubble will burst like the dotcom did. When will people learn to do their own research and stop spouting cliches

Cryptocurrency market will crash because "crypto tech" is not solving anything - most altcoins and tokens are just vaporware and scams, those that have working networks are miles away from delivering on their promises, which they won't do, because they are unrealistic and developers are not competent enough. Bitcoin is different because it actually has developers who believe in the project and have the skills to keep on improving the protocol year after year. The market will crash when the speculative period will be over, because big investors won't see any fundamentals that can lead to success, only empty promises and hype.

I see what you mean but your comparison is wrong because altcoins are pumped!
the difference is that in dotcom bubble and the similar ones people actually rushed to buy them so the price went up because of that. in altcoin bubbles people did buy them but that was not the reason for this kind of rise. the reason was because of the pumps.
in dotcom bubble pumps are illegal and since the market is regulated you can not do it without consequences but altcoin market is not and it is easy to manipulate it without consequence and also since it is a tiny market you can become a whale with a lot less money.


I agree with this though. it has been a theory that I have had for a while now. as people dump altcoins they do it on popular altcoin exchanges like Binance, Poloniex,... these places don't have fiat markets (don't confuse tether with fiat) so in order to go back to fiat they have to sell their shitcoins for bitcoin then transfer it to another exchange like Coinbase, Bitstamp, Kraken,... to dump for fiat so bitcoin price comes down as they dump their altcoins and the bubbles burst.

indeed in the investment by using crypto currency must have a comparison and the comparison is used to think in making decisions by utilizing the existing opportunities to gain a profit in the investment

Nope. Bitcoin is just the first to appear that is why its the known coin in the world but there are more advance token created not just for the purpose of storing value like BTC. Its not a bubble because no one can generate a token out of a token that you can plant the token and multiply just like how the tulip flower bubble if you knew the history of the tulip bubble. These tokens are going to be mined and has total supply which is limited and so the bubble won't die because of it.

True, most alts are bubble while some are not, we have many alts that has good product and great team to make happen, why some are in for the money but that doesn't say Bitcoin will be the only survival in future .
The rate in which new alts came with ICOs now makes me feel your point and that pave way for regulation which I know is the best to curb those fake ico with no intention of solving any problem through blockchain but to add burden to it existed , so I will say yes and no with my point because not all are bubble.

It has likely already crashed. Hell, it has crashed as far and deep as crashes can reach. But it doesn't mean that "crypto tech", where bitcoin truly belongs to, is not solving anything. If it weren't, we wouldn't have bitcoin prices of over 6k dollars per coin after almost 10 years of evolution. I agree that you can have a "tulipomania" for some time at certain prices, but definitely not for so long and at such prices. If you come to disagree with this point, you are simply in denial. Exactly one year ago 1 bitcoin cost around $2k, now it costs 3 times as much. Honestly, I don't know how you can have this if "crypto tech" was not solving anything as you claim.

While bitcoin is still useful and still benefits us, I still will still believe in bitcoin. I am very heavy to say that bitcoin is a fraud.

this makes sense considering all the altcoins (nearly 2000 of them) have been in huge bubbles. most of them are obviously small ones with big bubbles but low volumes so they shouldn't affect anything but the big ones like Ethereum for example have been the worst among altcoins. going from $1500+ down to $400 and still getting dumped is a LOT of money going out.

Yeah even before altcoins bubble bursts bitcoin has been doing good just that compared to last year there is a difference but the question that lies on the whole community is that how many cryptopreneurs can even afford one bitcoin even at this rate how much more if altcoins are to get rid of the system for only bitcoin to be the only cryptocurrency to be in use. Then some of us might us well us get out of cryptocurrencies for only the whales to do their thing. We just need to find a way of how numerous altcoins are just flooding the crypto market without any value.

Altcoin and tokens have grown excessively by the end of 2017 and early 2018. Too many projects failed, too many projects abandoned or scams! Good projects, still supported by the developer will be successful!
In fact, Bitcoin can also be replaced by altcoin in the future!

the problem is people these days call an altcoin project "good" if it is pumped more and has a bigger bubble than others. for example when ETH is pumped a lot people call it "good" but the tragedy is that real good projects always go unnoticed thanks to these top pumped coins!
which is why we see all these bubbles these days and why they are not yet popped completely.... OP has a good point here.

Altcoins won't disappear until trading Bitcoin yields higher profit margins than trading altcoins. Pump and dump schemes are synonymous with altcoin trading. It's easier to earn more trading volatile altcoins than stale Bitcoin. I think the altcoin bubble isn't going to burst any time soon.

Altkoins are alternative coins and some are created by scammers, you need to be careful when investing in altkoyins.

I think Bitcoin has little chances to compete with altcoins that has strong project which can add real value to the world.

Did you read my whole post? I told that Bitcoin different, because it has qualities that can justify it's value - it has community, it has very professional developers, it has huge PoW and it has achievable goals. We can't know if the current price is mostly speculative or if it is backed by the real use, but it's clear that altcoins are in bubble, it's absurd to have coins and tokens with nothing more than a whitepaper have billions in marketcap, it's absurd to have copypaste forks have any price bigger than zero.

I actually think what you said in your opening post is a great comparison and I totally agree with you. We have a lot of alts with no real product, and they will eventually burst. Some might have a product, but are still overpriced so they will lose a lot of value. Bitcoin on the other hand, and some other coins like ether, or maybe even others that may still arise in the future will have a role to play in our economy, and will be the true blockchain projects for the future.

I think this is a very valid comparison, but I dunno if BTC would emerge unscathed from an alt implosion. It's going to take more time for there to be a detectable difference in most minds. We can already see it developing with serious investors, I've never seen a talking head on TV enthuse about EOS or Cardano, but that still leaves a lot of little people to panic.

Either way I'm pretty amazed some of the stuff that's in the top ten on Coinmarketcap is still there.

Bullshit.  :)

My favorite alt,  is energy efficient and cost effective.

Bitcoin price increases dramatically every few years, but the costs of running the bitcoin network also increases just as dramatically.

Bitcoin may last forever who knows, but control of it centralizes more every day.

My favorite alt, costs of operations is less than $1000 per month and is not becoming more centralized.
Bitcoin requires millions every month , not including the new hardware requirement costs every year.

If Bitcoin survives for a billion years , I can guarantee, ZEIT will be across the table as it will be the Last Coin Standing. :D

At the end, it will just be ZEIT and the Last Unicorn.   ;)
https://www.youtube.com/watch?v=L2_oyGwdX14


FYI:
The Main reason most buy bitcoin is not to use vendors, but to use them on an exchange to buy alts.
No Alts and bitcoin price will tumble down faster than you can blink without altcoins.

so you admit that altcoins exist only for trading aka speculation and they are pump and dumps. so you also have to admit that pump and dumps can not last forever. there is an expiration date for every single one of them. when some pump and dump altcoin is overused they will put it aside and replace it with a new one, a fresh not-yet-pumped coin that can be pumped big time.
so the altcoin bubble should pop sooner or later.

looking back that has been the case. every now and then we have such a huge altcoin pump that they all go into bubbles then it pops and disturbs the whole market.
i said this once before, i say it again. a big part of this bitcoin drop has been because of all the altcoin dumps.

The market for cryptocurrency this year is quite bleak and that has had a lot of impact on investors' sentiment so I think investors should be cautious with their decisions this year. The market is showing signs of recovery and many altcoin are growing quite well, this is the time to buy the potential coin, remember to always have a backup plan for the investments.

I also believe that bitcoin will take a hit.That is why amazon is a good example in my opinion.Amazon shares dropped from 108 dollars to 8 dollars.But even that showed potential.Bitcoin price can go way down whether it is because of first mover advantage or just because it is getting improved way more that a flashy empty promise fueled alts but when the dust settles it will go way up than the pre~burst price.

altcoin is not bubble real altcoin always will remain same as you can see many crypto died already and btc is btc.btc will keep more valuable

I can not think of you, can see that bitcoin prices are constantly decreasing and this has caused the price of altcoin deep down, can see that the price of altcoin can not be strong. The market is bearish in the long term so bitcoin and altcoin prices will continue to fall sharply in the coming days and the resilience is very low.

Tech companies are not a bubble too.But if every guy who  wants easy money creates a tech company and if it is enough to have a  flashy  slogan to get that money.Don't you think it will create a bubble because that kind of companies will increase in number exponently.And that is dotcom bubble.
İn the first 5 months there are more icos than all of 2017.In this bear market that is.what will it create if not a bubble?

In think there are something wrong here because altcoin is moving faster and developing and there will be no altcoin bubble bursts in the future

i couldn't agree more on that.but, not all alt coins are bubble bursts.some actually have really useful applications and backed by strong and experienced teams . Keep in mind if all alt coins turns into a bubble , then people will lose faith in the whole market and thus bitcoin price won't hold and will turn into a pump and dump coin by renaming investors !

As time goes on, people's belief in ICOs is diminishing. Those who can do hardcap are really good projects. Market conditions will clean up altcoins soon by eliminating them.

Sure, Bitcoin is number 1 at the moment and if the altcoin bubble bursts, there is no doubt that bitcoin will be more valuable

I just think that selling altcoins at this time is a big mistake

Thats only possible when btc will be declared as the only valued crypto currency and backed by blockchain technology.But i seem if btc only exists then it will be more expensive and the price will reach new highs everyday.Which would make btc less usable due to more price swings and also unpredictable nature.I understand btc should be used as an alternative to fiat ,in that way it would be more beneficial to users and also long term impact would be more reliable thereby increasing the database of users as well.

Not necessary. That could also benefit other alt coins like ETH and Ripple. Bitcoin cannot be number 1 forever just because it is the first crypto.

i am starting to accept this opinion about the market too.
we have seen in the past 6 months up until the big fall in end of June that altcoins were getting dumped hard and even the biggest dump in them specially in ethereum happened after the Bancor hack which prevented the bitcoin price rise. and if you check the charts you can see bitcoin was trying to get above $7000 by that time.

this makes me worried though because although bitcoin is rising the altcoin bubble is not yet burst completely.

Bitcoin has been always valuable ever since and that is why many altcoins were starting to emerge in the crypto market. With the current progressive increase in bitcoin, many of the altcoin investors had shifted towards btc since it has been increasing progressively. The more investment poured to btc would probably increase it's demand thus increasing it's price further.

I think u are right if bitcoin will be only a cryptocurrency which survive in crypto market than its price will be high but one thing is altcoins need is also important because peoples are come in crypto market for investment and wanna good return so altcoins is necessary for running crypto market. in up coming time bitcoin and major altcoins will be accepted by companies as a payment.

the word bubble in the crypto market generally does not really consume! we must already understand that the crypto market is not a bubble! and bitcoin or other crypto coins will never burst! there are only bad projects that can very badly ruin their crypto coin!

Altocoins are depend on bitcoins because most of coins are purchasing via bitcoin on exchanges so bitcoin value is more in front of Altcoins. in future only bitcoin will survive in crypto market than its price will be much more but peoples are coming in crypto market for profit so they looking for altcoins as a investment option. both bitcoin and altcoins is necessary for Crypto market.