Bitcoin Forum

You still have time to abandon BTC and put your wealth on more advanced cryptos. The waves are getting weaker and weaker while the market is slowly eating itself.

Adding new wealth to the bitcoin ecosystem, rewards miners for wasting energy without giving anything useful to the network. It's no secret that adding more wealth to the bitcoin ecosystem, only fuels this idiotic arms race of bitcoin mining.
Bitcoin is strongly impractical because of it's immature use of resources and it's inability to support stability. You have to be religious about bitcoin while the world of finance is a new place to you, if you can't see the importance of these impracticalities.
The Winklevoss twins may be great rowers, and Draper may be a good friend to Jurvetson, but their judgement about bitcoin is childish at best.

The future is not in bitcoin, but in the general idea of open sourced monetary systems. There needs to be a lot more advancements before cryptocurrencies would be practical on a larger scale. The current phase of development is in it's end. Right now would be the right time to jump off this train and jump onto something newer and better, that has solved some problems that plague bitcoin.
Don't ask me on what crypto to buy, because I don't want this thread to become a trollfest. Do your own research while keeping the flaws of bitcoin in mind.

Don't get caught on a sinking ship, just because you're emotionally attached to your investment. It's a common flaw for novice investors to become emotionally attached to the source of their first winnings.

If you reply to this thread, then I would kindly ask you to express yourself in a calm and constructive manner. Thank you!

agreed

You have not explained what kind of advancements are needed, and why they cannot be implemented in Bitcoin.

agreed

Ok, then I will calmly tell you where you can stick your crappy, POS PnD scamcoin alternatives.   ;)

Also, if you are shorting btc, you better close your position soon... troll

pow blockchain with minimal maintenance cost in energy terms.

Sell Bitcoin, buy Pandacoin.

Please list these 'more advanced cryptos'. I await the laughs.

Bitcoin is first mover.
If bitcoin fails, all the altcoins will fail too.

IMO, alts are only good for easier mining and speculation.

Wasteful mining and the promotion of price instability are the core aspects of bitcoin. No one will even consider changing PoW mining and fixed supply.
The problem is in changing the fundamental properties and trust. Trust is the main pillar of any currency. If you would start changing those properties, then people will start to ask what fundamental rules will be changed next and they will lose their trust in the system. That is the reason why wealth needs to move to more developed currencies that already have more developed core properties.
And in all probability, wealth won't rest on those new and better currencies forever either. There will be more new and better developed cryptos that will again flag the start of another phase.

That's right, they will come and go often, as yearly fads, each new one with a new shiny gimmick, and people will be running after them chasing their golden opportunity to invest into better crypto.

...

While bitcoin will remain the point of reference and the only actually trusted blockchain. Soon smarter authors will understand that and will save their crappycoins checksums into bitcoin blockchain periodically. It will always be the mother of coins, no matter which silly marketing slogans coin authors will come up with later.

But you are free to pursue the dream of a better coin, where no resources are ever wasted and consistency of the chain is ensured by kind elves. However, be prepared that your delusion will not be shared by mostly anyone else, they will be pushing marketing agenda of their own crappycoin.

OP is a bagholder  :D

You talk as bitcoin had been in place for decades. Most of the new and better cryptos are still in the process of establishing themselves. Some of them are only now coming out of the initial phase and are starting to have value that isn't dependent on bitcoin. This is the indicator that the crypto market is changing shape from a pyramid to a cluster. Bitcoin won't be at the top of the pyramid any longer, because it's only strength is the faith of the old adopters. And there aren't enough of these old adopters and the large majority of them aren't competent enough to push through this "U BUY COIN, ME GET RICH!!1" scheme.

Another day, another slew of doomsday threads trying to freak out the newcomers. I will say this though, those new to Bitcoin need to learn the curves of being involved in such new and evolutionary technology and all the confusers and obfuscaters that are present in such a realm. I've been through my share of ups and downs and made my growing mistakes but I'm that much more insulated and relaxed from the wild talk and shakeout rhetoric. Caveat emptor, yall!

I agree with this part. People need to be careful on who they listen to. I would recommend to be skeptical of those who:

a) Try to ridicule arguments and use personal insults instead of offering counter-arguments.
b) Try to mystify the subject and give the only explanation in a form of "you are new to this, so you wouldn't understand this complex subject anyway".
c) Try to outright ignore the critical points that the ongoing subject stresses on.

d) Repeat the same negative or positive shit, thread after thread :P

I agree, and as such, I think I've listened to enough of your opinion.

OP's first post, back in April:


Six months - and counting - of the same message. Why would anyone bother to do that? Cui bono?

I own a bunch of alt coins.  

I will never sell more than half of my current BTC holdings.

You VASTLY underestimate first mover advantage.

Nope

For the first mover advantage to have importance in technological fields, it has to have technological superiority, control of resources or high user switching costs.
As I see it:
1) Bitcoin is technologically inferior.
2) Bitcoin isn't the sole representation of this specific idea or technology.
3) Switching costs would be trivial for services and users to switch to new cryptos.

Reading your last line somehow linked me straight to Star Wars and "You don't know the power of the dark side!". First mover advantage is more prominent in inefficient markets, where marketing is valued higher then technological advancements. Technological advancements are stagnant in markets like these, because the majority consumers aren't educated enough to understand them. They will only react to smart advertisement to which the first mover advantage is most important.
I know that the first mover advantage is a force to be reckoned with, but I strongly doubt that it will be the main force that will be driving this market. The first mover advantage can direct the success of carbonated soft drinks and detergents, but the field of cryptocurrencies will be on another league from something this primitive.

Thank you for pointing out the main argument that supports the success of bitcoin.

I'm off for now. See y'all on another day!

Oh, nice, bullet points!

1. No, bitcoin is developed by hundreds of actual developers who create amazing features not present anywhere else, while deploying it on a live billion-dollar value blockchain while keeping it secure; most other cryptos are just copies by get-rich-quick kiddies who have no idea what they are doing.
2. That is true; same can be said about IPv4 but it still rides along for 30 years.
3. Oh no, most of the infrastructure already assumes bitcoin, promotes bitcoin, uses bitcoin. Of course, everything can be switched theoretically, but not "trivial", and sometimes even impossible, for example for the hashing network. Which is, regardless of what you say, the greatest strength of bitcoin.

Other "advanced" alts has nice touches to them, but the most important aspect of any crypto is user support. There may be a few technically "superior" alts. If there are no one using accepting it as payment, it has no use in the crypto world. Currently, there is no other crypto which can sway the dominance of bitcoin.

Right, but that is not to say that some time down the road a few could find a mainstream spot also. BTC has had a head start, and has a lot of money backing it right now so of course it looks like king as it should be, but then again over time something might join it.

BTC works and BTC can be the key for a new economical future.

Why to use another coins based on it? Please OP, why use something that is already there and with a huge community on it?
bitcoin is strong, useful, powerful and necessary.

Other coins are just more and more experiments. I own more than one altcoin but not all of them have a great dev-team or strong project to really believe on it... you have coins that doge (huge community) XMR or another ones (with great projects) but bitcoin have something that the other ones can't have: be the first.

OP, I fully understand where you're coming from, what with bitcoin being extremely environmentally wasteful, but that may be necessary to give it a base value, if nothing else. You need something like a production cost assigned to it, so there can be a reference to its fundamental value. With PoW mining , while primitive, it at least has a direct way to assign a production cost to it: electricity.

But however better cryptocurrency can be improved, it's not that there aren't alt coins that have better solutions and better technology than bitcoin, yet they still don't and can't overtake much less replace bitcoin. There's also the adoption and infrastructure, which is what really gives bitcoin its value. Bitcoin's first mover advantage really can't be simply overlooked or dismissed. The solution is not to create another alternate coin, but to just fully concentrate on Bitcoin and how to evolve it to be something better.

If you actually believed what you wrote you would be posting in the Nxt forum community, or the Bitshares community or the Emunie community or the Ripple community or the Ethereum community. Because there is tons of non-bitcoin crypto advancement and ingenuity happening in all those communities.

But this isn't really about that. This is about your ego. An ego that thinks that bitcoin is a cult. And that you are smart and everyone else here is a freakin moron.

Well, bitcoin is in a bear market. So is gold and silver and copper. And so are many world economies. And so is real estate in much of the U.S.

So freakin what?  Bitcoin is in a bear market and still the price is 2-3xs more than it was a year ago.

Do you actually believe that a bear market gives credence to your condescending opinions about Bitcoin? And if you care about digital monetary systems so much why are you not somewhere else HELPING OUT??

1. Tell me about these unique features that aren't present in any other crypto and that make bitcoin unique.
2. IPv4 didn't have important fundamental flaws that made it impractical.
3. For the users and services it IS trivial to switch to new cryptos. Only smart  investments around bitcoin are those investments that go in into the service framework. The beauty of those investments is that they aren't dependent on bitcoin and it's price. Most of the support services earn by volume and if bitcoin fails then it's not hard to just switch cryptos.
In my vocabulary, buying BTC or any other crypto is more of an gamble then an investment because of this.

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Bitcoin finally got established to be used as a considerable legal form of payment in 2013, while it was introduced in 2009. This means that it needed 4 years to earn the trust and acceptance of people to become something more then some quirky underground fantasy money. Most of the new and better alts are only 1 - 2 years old, meaning that they are only now getting established enough to be taken into consideration. The only reason why it won't take 4 full years, is because bitcoin has already paved a big part of the road to fasten the entire process for the newcomers.

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Bitcoin works like the steam engined locomotives still work. Another question is if it's practical enough to be used on today's standards. Steam locomotives once had a large community supporting them and didn't mean that they overpowered technological advancements.
All of the coins, including bitcoin have started off as experiments. Because that's how technological development is done - by experimenting. Right now the experimenting has shown that the important flaws of bitcoin can be addressed and new cryptos with better fundamental properties can be made.

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It's foolish if costs are being driven up by a method that has no gain. For instance, if Volkswagens would be made in a way that they are disassembled and reassembled 10 times before they come out, then it sure would drive up the production costs together with the price. It would also give people more work for doing it. But will it improve the quality of the product or improve anything at all? No.
In the future, the use of money should be cheap, without any artificially added costs. Currently is the time where the banking sector is using it's dominance to artificially add costs to their offered services. I believe that the future will be better, not worse, like it would be with bitcoin.

The fundamental properties of bitcoin, like PoW mining and fixed coin supply can't be changed because of the trust issues that would arise. That is the reason why the developers aren't considering touching these parts. They know that trust would be lost if fundamental rules would be changed. So, the only option is to move wealth to new cryptos that are already built on more advanced fundamental properties.

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Why would I have to warn other communities to abandon bitcoin? If people are already apart of those new and better cryptos, then there is no reason to warn them, right?
I offered my vision why this is not just a temporal bear market, but the end of an certain phase that was lead by bitcoin. I have explained in detail why I think that the end of this phase will also flag the end of bitcoins dominance.
I recommend you to challenge my vision with counter-arguments. Personal attacks won't get you very far.

I can agree to OP to some extent. I choose NEOS and BTSX.

Quit being so butthurt. Im not personally attacking you when I say if you believe in open source crypto get involved in non-bitcoin projects instead of warning people that bitcoin will fail. It doesn't make sense.

Here's why: (and by all means please attempt to debunk why)

Scenario A) You are wrong. Meanwhile, bitcoin survives. Our community thrives. And other non-bitcoin blockchain alts grow as well. Meanwhile, you did absolutely nothing productive with your time.

Scenario B) You were right.  Bitcoin fails. Other non-bitcoin alts change the world. You have nothing to do with it. Your time was wasted. Maybe 3 people listened to you and got out of bitcoin. So you saved 3 people a couple of hundred, maybe a couple of thousand dollars in investments. Meanwhile you had a chance to be a part of something revolutionary, something you believed in. But you didn't.

Buy BitLeu (BTL) ! https://bitcointalk.org/index.php?topic=510353.0

Just give me your coins since they are useless to you and prove your abandonment.

Nice OP.  A few thoughts jump to mind:

1. There is a very large number of overly optimistic speculators hoping that this lottery ticket will pay off.  They will quickly dismiss it without giving any real thought.
2. I share your opinion that its time to look toward who will be the 2.0 leader in the crypto currency space.  There are so many clones that are nothing but penny stock pump and dump schemes.
3. Ethereum has a lot of potential but its really early.  They seem to have a good vision, principals and now capital.  Even so, none of that matters if they are not able to deliver something that is viable.  Also it will take time to earn trust as you have pointed out.
4. My prediction is a handful of viable alternatives will wait in the wings until there is some crisis of confidence in bitcoin and then there will be a quick migration to one of them.

1. working multi-sig implemented in actual businesses, for one.
2. oh yes it did. it had a 4 million address space problem which was noticed 20 years ago and was fixed in a follow-up protocol ipv6  18 (!!) years ago and still it has 3% penetration regardless of everyone's efforts. Because it costs money to upgrade all the infrastructure! Even though most hardware supports it, nobody cares enough to fix software because there's no fatal flaw and everything "just works" on ipv4. That would be the reasoning why bitcoin, if ever replaced, would go out in a very long co-existence process with a new currency.
3. there is some truth to it, that service investments are currency-agnostic, however as I firmly believe, bitcoin can't possibly just "disappear" as myspace did - many unique services are bitcoin only, millions of USD in support network is bitcoin-only, so the switch will be slow and painful, not matter how amazingly good new currency might be.

Your reasoning is very similar to early delusional bulls who said "ok bitcoin is so much superior to the world's financial system that it will replace all of it tomorrow". This just does not happen like that. Step 1 - you build something that is unique and impossible under the old system. Step 2 - you win users to trust you with their finances.  Step 3 - they move.

You think that right after you come up with a better idea you go to Step 1 "it wins". You miss alot of steps.

Yeah guys,
Stop buying the only crypto that has ever had any real traction and start buying hopecoins.  ::)

You can afford hopecoins because one BTC = 15,000 HC!

EDIT: since I started writing this the rate has changed. one BTC now = 117,000,000,000 HC.

Many of the OP's points are valid, but the conclusion about investing in some current alt-coin doesn't make sense to me at this time.  Perhaps in the future this situation will occur, but I hope for those of us who like to follow the space, we'll be aware of it and able move our investments over to it as early adopters.
When someone can show me the alt that I can get in and out of easily without using BTC I'll be more convinced.
I don't think it's a horrible idea to invest a small amount in many alternate coins, but the most likely outcome of that will be near complete loss of investment, it's a lottery ticket for a moonshot.  If you have to choose only one coin now, it's quite obviously BTC.

I stopped reading from there, useless post lets move on.

You forgot 4) you are invested in a few altcoins and not bitcoin

And his only hope is for some suckers to invest in these altcoins too, so he can cash out and buy bitcoins   ;D

Next year this time the altcoin-section will probably be swimming in generation 3.0 cryptos claiming some superior feature, mostly backed by speculators and scammers, and bitcoin will still be here racing towards new ATH.

Think I'll hold on to my BTC

Abandoning BTC for other cryptos ? That's new type of FUD :D . All the altcoins get dragged down whenever BTC price falls and very few of them even recover . Still good effort to sell your failed coins.

Yes. Bitcoin will likely integrate very slowly and carefully any truly superior features from alts anyway.

Bitcoin is still very early in terms of user adoption. The bears like to criticise bitcoin because user adoption has lagged slightly behind the enormous progress it has made in terms of merchant integration and VC infrastructure funding of nearly 500 billion dollars. They cite this as a failure and this guy is suggesting buying alts with no real world uses or end users. I say just watch the btc price as adoption catches up, this time with easy on ramps. The next bull run is going to be epic.

True , and Bitcoin is the center of cryptocurrencies ... Any altcoin cannot survive on its own but still there is space for altcoins to co-exist alongwith Bitcoin.

Very true. Also novice investors have no clue about the markets, they are not traders. You actually need many months playing markets to get the hang of it.

On the other hand the best lessons in life are painful.

So who is taking another loan to save bitcoin and get more cheap coins?  :D

>market cap ~ $5 billion.
>VC infrastructure funding of nearly 500 billion dollars.

Stop huffing Mop & Glo.

loans? whats that? ah, it's something you altcoin users have to fall back to to survive, interesting.

So if I understand you correctly, you are telling people to invest in altcoins (probably with more or less specific recommendations based on coins you own).
Where is that any different at all from bitcoin early adopters?

Do you want me to buy into the nxt early adopters or ripple "cryptocurrency" ? Whats your perspective on alts forked from other innovative alts purely for more fairness with distribution?

All you want is a different wealth distribution with yourself at the top. It is not about wasting energy or being more fair.
It is only about you personally gaining because you find it unfair that others were lucky.

Well here is my answer to you. At least do something useful.
I don't agree with the goals and intentions of ethereum but from what I gather Vitalik was also complaining about lucky early adopters.
He at least is doing something more useful than you complaining on a speculation sub-forum about bitcoin

Someone tell PayPal or the fools who just invested 30million into blockchain.info. Or the half a billion dollars of VC investment into bitcoin business in the last year.

Noone is in their right mind would take a loan out for speculative btc purposes. Sadly MP is advising people to sell btc which actually has value, utility and can be exchanged for fiat currency easily. He is proposing buying altcoins which can in the main only be exchanged for..you guessed it..bitcoin and are just a lottery ticket, based on the predication of the failure of the very asset they are priced in.

I suggest anyone actually ruminating his words simply reviews his previous posts, then all will become clear.

Yeah I know he's an ancient bear, but he, at least, can project his bitcoin hate in a readable and logical manner. Which is fine by me, I welcome any opinion if some brain cells were involved in forming it :)

True. I suppose it is a refreshing change to falllling and the clone wars. He must be getting tired of being wrong.

Mervin is as 1 note as fallling. He just tries to mask it in pseudo logic.   He constantly gets debunked, but never acknowledges intelligent relies. Just like fallling. Actually from time to time fallling acknowledges intelligent replies. Mervin is less prolific, so it makes him less of an annoyance.

Bitcoin is the money of the internet, it will rise like crazy if it becomes widely adopted, think about it, there a lot of bitcoin believers, remember?

I think by this time next year, BTC will have reached new ATH. Gaping will come in 3 years.

That isn't the same as bitcoin mining, your Volkswagen analogy. That's doing for the sake of doing things repeatedly, and that is indeed stupid and inefficient. While for the mining of bitcoin using cryptography,  the millions and millions of hashes are required to find the right hash function to solve a block to be able to give out bitcoins. Brute-forcing is the only way to go, as long as cryptocurrencies are based on, duh, cryptography.

The trust issues regarding the fundamentals of bitcoin, to me, is not as sacred as you implied that if developers change Bitcoin's fundamentals all trust would be lost. If people have trust in it, people would just accept it. Take the hard fork of March 2013. Majority of miners agreed to the fork and the problem was solved and it's business as usual. Unless you want to speculate on other cryptos for extra monetary gains, or have personal principles (such as the PoW system being energy wasting) against Bitcoin, by all means get out of and go into the others, but Bitcoin is not going to disappear or be abandoned, not for the reasons you cited.

Money should be cheap if only to encourage spending. And to be honest I personally do not see Bitcoin as currency as much as a store of value. Which is why I don't really feel appropriate calling Bitcoin a cryptocurrency. It's more like digital gold. Like gold, you don't use your gold to buy stuff, you sell your gold for fiat to buy stuff.

Gold, as a store of value, is becoming obsolete.  Like Bitcoin, it has been a poor store of value in the recent years.  Even when compared to USD.

http://media.ycharts.com/charts/ea6b2a4d68b6595cfd6dd1961863d9b3.png

Now post 10 years gold price chart.

agreed

To what end?  I said gold is becoming obsolete, not that it was obsolete all along.
I mean, come on, gold?  And you guys think fiat is a dinosaur :D

If gold is becoming obsolete, it's because eventually it'll be digitized. Bitcoin can easily replace physical gold in terms of its function as a store of value

Well sure Bitcoin can easily replace gold.  So could Litecoin and any clonecoin.  Or shares in some dead artist's paintings.
What's your point?

litecoin and any other clonecoin don't have bitcoin's network hashrate nor merchant acceptability, people will always choose the most secure and usable network.
shares in some dead artist's paintings don't have the properties needed for them to be money.

money has to be:
portable
durable
divisible
fungible
scarce

I'm beginning to realize you are too shallow to follow this discussion. Shares in some dead artist's paintings replacing gold? smh. You must be one of those folks who think Bitcoin is just 'magic internet money'

Abandon bitcoin? Go ahead and be left looking like a retard. With Sir Richard Branson now driving the Bitcoin Foundation and changing the very nature of bitcoin, only a fool would bail out. Bitcoin is about to undergo a change. BTC symbol to be replaced with XBT. 1 BTC will become 1 million XBT.

When billionaires front run bitcoin, it is no time to sell.

https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/

Buy now be wealthy, very wealthy, later!

Wrong again.
Stop relying on your ever-erroneous realizations, and ask an adult to help.

yep, confirmed not only shallow but juvenile too, resorting to childish retorts. Get back here when you grow up, this is too deep for you.

is everyone saying fuck bitcoin?  ???

Well, at this point everybody is mostly saying fuck OP, just in more polite terms and with reasoning.

What ? Abandon bitcoin ? @OP you must be joking, right ? Bitcoin will succeed, do you remember the last bubble, with a few chinese nerds buying the BTC till the moon? well that is going to happen again but now instead of chinese nerds you will have wall street kids with big wallets.

Goodbye my old friend.

It's a lot easier to implement multi-sig to alts, then it's to implement advancements in coin creation (PoS mining or stability mechanism) to bitcoin.
IPv4's space exhaustion and bitcoins impracticalities aren't comparable. IPv4 is usable for it's purpose, but only has limitations in future expansion. Bitcoin in another hand, has impracticalities that limit it from being a practical currency at the present time. So, a more advanced system needs to be taken into use at present also.


Those millions mean nothing when considering the potential that this idea of open-sourced monetary systems have. This idea has potential to become practical on the larger scale to actually make money much cheaper. Meaning that it will cost a lot less in the future to hold up the monetary system. Bitcoin can only offer an innovative gambling platform for people to play on. It's impractical as money, because it lacks any mechanism for stability, and that is one of the most important aspects of an quality currency.

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I'm telling people that it would be better to realize that the time of bitcoin is at it's end.
My aim is not to tell that the beginnings of new and better cryptos are any different then the beginning of bitcoin was. Bitcoin had it's time when it was advanced for it's time. Now that time is at it's end.

I won't tell you on what specific currencies to buy. This would help the bitcoin fanatics to turn this thread into an "trollfest" even more. So, do your own research.
I think that an important part of the technological development of future currencies is a mechanism that will make the distribution more "fair". Meaning that there will be more practicality and less gambling.

No I don't. Actually that's one of my main criticism of bitcoin fanatics and the rhetoric about their "fight against the evil banksters and unfair distribution". They aren't about changing the system so that monetary rules would be equal to everyone. They are about bringing the old system down, so they could build a clone of that system, only with them on top.
An advanced monetary system will be the one where luck or personal connections have less to do with gain. It will be more transparent and objective in rewarding work.

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My analogy was an counter-argument to an argument, that bitcoins inefficient mining is good because it gives bitcoin value.
This analogy was to clearly show on why giving value to something with useless work is stupid.
The main gain for bitcoins cryptographic system was to offer it security. The security part already failed when all the hashing started to be pooled together on single points. That created a situation where the increase of hashrate didn't increase security of bitcoin. The security of an mining pool doesn't increase with increased hashrate. All you have to do is to compromise those pools to compromise the network. So, bitcoin hashing has absolutely no use.


Money should be cheap for people, so they could use money without high costs of it's use. Especially if those costs go to useless directions. It has nothing to do with encouraging spending. You're not distinguishing inflation and the cost of money as an tool of trade. These are totally different subjects.
My personal opinion is that it's stupid to consider something as a store of value, that is almost only built on speculation. But that's my taste when choosing where to store value. To me, speculation is fragile and unpredictable when compared to actual stable need.

I think in the long term, none of the alt-coins will ever survive.

Even dogecoin or darkcoin is a long way away even from coming close to Litecoin.

And litecoin compared to bitcoin is very very weak.

Litecoin is dead & has been for a while... Only the bots are keeping this thing alive! Going all in with BTC is better for the community than spreading the wealth all around into alt coins that will all fail anyway! Litecoin is sinking wayy tooo fasttt

Whether or not Bitcoin becomes a major currency, financial technologists can learn from the innovations that have come out of the system.

They already have & they said they will use the technology... They will try to kill btc over the next year
https://www.youtube.com/watch?v=m7hfGExP6WY (https://www.youtube.com/watch?v=m7hfGExP6WY)

Agree with this one still. Looks like the end of BTC and a better time to buy others, such as ETH.

And what are those more advanced cryptocurrencies? Sure, we have some that have potential and altcoins are easier and more profitable to mine, but if Bitcoin crashes, all the cryptocurrencies will go with it. Bitcoin is first, everything else is a copy or a chance for someone to get some money out of it.
Alternative cryptocurrencies are for mining, and then you simply trade it for Bitcoin and hold Bitcoin.

well i doubt that you or anyone other should abandon the bitcoins, in my opinion the price of the bitcoin is definitely going to up, it will make me good money

Those coin don't have an developer team helping to bring innovation. To last you need developments, and both litecoin and dogecoin fail to deliver.
If bitcoin won't innovate and keeps innovating I am positive some altcoin will take over, although that will be hard, since the bitcoin ecosystem these days has grown substantially.

The market speaks for itself, not in words but in constant repricing.  This thread is quite old, and the sentiment has turned out to be wrong.  The other cryptos have mostly gone down the toilet as far as value goes, with the exception of a few, and bitcoin is soaring.  So the market is completely disagreeing here.  Bitcoin is so far ahead of the others it isn't even funny.  If people even know about cryptocurrency, it's bitcoin that they know about.  If any crypto makes the mainstream news, it's bitcoin.

pff, who still cares about ethereum with their hard forks and stuff? i think bitcoin is way better than all the other coins and it will remain the best

This thread was opened  two years ago and it is interesting to see how these failed prophets are continuously announcing the "unavoidable" failure of the bitcoin ecosystem, however the BTC is healthier than ever and all those new altcoins that have continuously emerging have shown the invincibility of the King and Father of all altcoins: the Bitcoin.