Bitcoin Forum

Ok so you have some bitcoin, buncha altcoins and youre just waiting for the day bitcoin moons like you've always dreamed.

You woke up this morning and bitcoin was $1,000 you bought in at $600 and you held ever since.. in debt.

So you immediately sell your bitcoin to regain your investment. You then are happy from your profits after many long bearish seasons.

You then realize you could sell all your altcoins for a ton of extra bitcoin! you cash out 1 btc  of your favorite coin but then you notice the buy support would only allow maybe a few more people like you to sell off their holdings for bitcoin.


 After no more buy support every one is considered bagholding right? and would require more bitcoin or new investors to buy all those coins... who is going to buy play altcoins when they cost 10x as much in fiat money?  just wondering if anyone else pictured this scenario

Like when alt coins died in late 2013/early 2014 when Bitcoin hovered around $1000? Doubt it. If anything it will be another alt boom.

I would listen to the people trading BTC.

Altcoins are dead already. Am I wrong? Which altcoin is doing good since its release? I can't see any of them.

There will always be a market for altcoins, because they have different usabilities, or because some people just likes something different.

As you can see from the past, if the price of bitcoin rises, altcoins will follow.

Also as long as this is a grey area legally, those who missed out on the Bitcoin train will always look for another way to make quick and fast money through alts.

Bitcoin going up $25-50 dollars doesn't benefit many people except whales.

"altcoin" is an outmoded term.  Anything that's a mere altcoin, i.e. clone of bitcoin with minor changes will indeed faire very badly if it hasn't died already.  Crypto 2.0 systems, such as BitShares, which received millions in funding and had 18 months+ of full time development by a brilliant team, is not really an "altcoin".  It's a vital part of the crypto ecosystem providing a stable crypto bank account for everyone in the cryptospace without having to touch regulated exchanges.

When bitcoin gets an investment meal, it feeds the real crypto 2.0 projects as well.  It's good for the whole ecosystem. :)

bitcoin boom = altcoin boom

This is the beginning of something huge. Investors are begging to invest/hire anyone that can program p2p blockchain technology.


Many devs like supporting coins with 0% premine and remaining anonymous. Other devs like to be public and run ICOs. Others support both. Buy up as many coins as possible! Don't let Venture Capitalists get all the coins.

 

alts are oversold already. They won't die much more. I'd expect them to actually hold their value in USD and even slightly rise against USD in case BTC rally. But i think BTC will not bubble soon, maybe more slow bullmarket. So being in altcoins is likely the best you can do.

Hold Bitcoin: very best case you get 10 times or 20 times back
Hold LTC: best case you get 150 times back
Hold other alts: best case you get 800 times to 1000 times back

Bitcoin is for the nutcases only.
I do accumulate a variety of alts.

Altcoins will grow with bitcoin because they will become more economically viable as the price of bitcoin goes up.

I understand how people feel about these other Bitcoin copies, alternatives.
However I still believe that alternative Crypto currencies good for bitcoin and the community.

not all altcoins will die but most of them will, only good one with some innovation will stay there

I expect maybe a couple of alts to survive as purpose-specific coins
Most will die as btc inevitably takes off in the coming years

do some more research you will find that in a major bitcoin rally the alts go down then have a slingshot effect with even more insane % growth.

source: litecoin 2013 happened twice

like it was then price of LTC was around 40$ if I recall or little more
yes i share this opinion ass well and hope to see some alt coin go boom

That's cute.

People chase what moves. If an altcoin is appealing enough and communicates promise to enough people, there's nothing stopping it from taking over... save for network attacks, governments, large businesses...

i agree!  watch this interview.

https://www.youtube.com/watch?v=cIasr2AiyZ0

That's one of the most inaccurate statements I have ever read in here.

The issue is, that altcoins have absolutely no real world usage nor any use cases nor usability. Consequently, apart from day traders and pathetic P&D scammers nobody use altcoins. Ethereum will perhaps make it as smart contracts could be useful to address many business requirements, but despite the hype and massive investment it is not even clear if Ethereum will make it. However,  the current +600 altcoins/shitcoins, hopeless BTC/LTC clones will simply disappear.

Since altcoins have higer volatility compared to BTC I think that the answer is clear. Smaller money bigger moves, alt coins to the moon and beyond.

So you think there is not a market for decentralized databases & artificial intelligence on Sapience/XAI for instance?

If anything we will find out how limited Bitcoin really is, blockchain technology is the future of everything from cloud storage to networks that will be almost impossible to take down/DDOS. Imagine if the Sony PSN network was secured by a blockchain, you know how much Sony would pay for that technology? It would be worth its weight in gold.

If you say there is no real world use for alts its because most good ones are barely 6-12 months old, how many startup businesses can you name that became a economic powerhouse in such a short time period?

No matter Bitcoin moon or down, some altcoins are still outperforming bitcoin. They are really promising and addressing some issues in our real life. Why altcoin is called alt, cos it comes after bitcoin. It doesn't mean it is not good, it provides some features bitcoin don't.

True, alt infers "alternative" to Bitcoin. Many so-called alts are not even the same competing market as Bitcoin as a digital currency and act as fuel to power services.

Bitcoin is platform and alts are aps on that platform.
When Bitcoin moons, good altcoins moons too... 

I thought we was at the moon already.

r.o.t.f.w.l.  !!!

Is that your latest random philosophy of the day ?

That's a remark that only someone who was utterly clueless and had done zero research into the functioning of altcoins would say.

I'm sorry. If / when Bitcoin "moons" there will be huge problems in various sectors that simply can't access digital currencies due to the nature of Bitcoin's monetary features.

Have a look around you. The financial system is massively diverse. There is a universe of different types of derivatives, financial instruments, currencies, bonds, debt-based, commodity-based you name it based monetary tokens.

The idea that bitcoin is the "only one" is ludicrous. It may consolidate its position as the "reserve" but thats it. On a day today basis it will be lucky if it has as important a role as gold (which isn't the only monetary token in use in case you hadn't noticed).

Apart from anything else, markets (free markets at least) do not ever allow anything to be "the only one".

Damn that's hilarious ! True.

Hear me loud and clear. Gems when it releases its IOS and airdrop will moon far more than anyone even dared to dream.

Mintcoin is over a year old and increased in value like 400% last month despite bitcoin rising too. I think every market is independent. Sort of like the s&p 500... The top 500 alts or so are likely to do well. You cannot have only 1 coin...because you need others for trading pairs against it so the market action can go in cycles. If one is overvalued you need an alt that is a better value until the market finds balance.

The good ones follow suit

as stated before any altcoins with some innovation or hook will likely stay while the copies will die off.

I dont think like that!
Bitcoin can grow and others alt also.
It depends on the money that goes in.
Regards

yes this is true some alt follow price of bitcoin that was seen before and will be seen again
every time is different coin that follows

guldencoin

When bitcoin moons, quality of alt-coins will improve and compete with bitcoin. Alt-coins will never die. There can be more than one digital commodity.

Before year 2000, Gopher and altavista were popular search engines, then came Google.

If my BTC goes to the moon, then I can afford to buy more altcoins.  The main purchasers of altcoins are BTC users.  

I wasn't even thinking about Ethereum, but that's another example, coins like SJCX, XCP, Stellar and XRP are good examples of altcoins with very objective usabilities, they don't compete directly with bitcoin.

As for bitcoin and litecoin clones, like I said some people will always want something different.

I am thinking this is a great time to buy some BTC and altcoins

Yes, bitcoin is the leading cryptocurreny. It is the based currency for trading altcoins. But when bitcoin moon, some alt moon as well. So you just can buy the shitty altcoins whose price is down comparing with bitcoin.

Well I think personally I am going to get into as many viable altcoins as possible. Missed the whole crypto-currency train first time round so I am trying to increase my holdings of btc, but also want to get into some altcoins too. I guess with so many out there its hard to know which ones. takes a lot of time to read/research all these coins esp when you have a slave-wage job in the 'real world' lol

It is hard to know if they are viable or not ;)
Most altcoins will fail but I don't fully agree with OP in the sense that I think some altcoins may co-exist with Bitcoins in the future because they will have an active community and a few small different features that suit some people's needs or taste.

There are several factors favorable to altcoins to consider:

1.  Altcoins as Sharedrop Targets.  Each "altcoin" blockchain represents a "mailing list" to members of a specific demographic.  For example, dog lovers or Mars colonizers or permaculture enthusiasts.  So if you are starting up a new blockchain business, you can custom tailor a fair distribution by initializing your genesis block with a "share drop" to holders of some mix of the demographics you want to have for your holders.   I see one destiny of "altcoins" as building up desirable demographic mailing lists for "sharedrops".  Why does every "fair distribution" have to be handed to the mining techno-geek demographic?  Roll your own demographic from a mix of fairly distributed altcoins!  People who have purchased specific altcoins have demonstrated their worthiness to get your shares more that those who just want to mine and dump them.    

2.  Altcoins that Don't Compromise.  Let's face it.  To get big, the leading coins need to sometimes make unsavory compromises in order to comply with regulatory constraints and to get established institutions to "play nice" with them.  This will only get worse.  Every time such a compromise is made, it opens the door for a clone that didn't compromise.

3.  Altcoins with Business Models.  Most of the exciting stuff lies with block chains that aren't even really trying to be currencies.  They are trying to be profitable businesses offering services without counter party risk.  These are the "Bitcoin 2.0" initiatives.  You evaluate them the way you are supposed to evaluate stock in a company.  Are they profitable?  Do they have a good development team?  Are they the best in their class? What is the size of their potential market?  What is their growth potential?

All this means that "altcoin investors" need to take a whole lot more into account if they want to profit.  Gone are the days of picking the coin with the clever meme or name.  In the future successful crypto investors are the ones that do their homework!  :)

  

About point 1: I don't understand the insight & conclusion and can't see the consequence & implied recommendations. Please explain/help.

Many Altcoins will die and some won't die and here's why:

1- The Altcoin market cap is greater than Bitcoin. #CoinMarketCap
2- Altcoins are typically a lot faster than Bitcoin... by now, most Bitcoin users have switched over to a faster coin.
3- Some Altcoins devs treat their coin like a job #DigiByte
4- Some coins devs have reached some hefty investment dollars.
5- Bitcoin is becoming an alt wanna-be and some alts have better wallets.

The point of alts is to pick up the slack that Bitcoin couldn't tighten.  Everyone wants Bitcoin to be more than what it is when it was never meant to be more than what it is.  If anything, if Bitcoin keeps on doing whatever it wants to the code, the Bitcoin will die long before alts.  Again, Bitcoin was the first popular Crypto and to this day is still the most popular.  Just like SnowJet used to make the best snowmobiles 70 years ago, they're no longer in business today because other companies had more drive to success.

The coins that will die:

1- Uses a generic coin creation program #XPY
2- Uses the same spiel as Bitcoin (distributed, PoW) #BlackCatCoin
3- Devs have dropped the ball (95% of the time) or don't update #TEK
4- Have no direction, a coin created for the sake of creating one #FireFlyCoin
5- Have no marketing budget - Miners are not marketers. #Crypto Mining

For everything else, there's CoinWarz.

I recently sold all my last Bitcoin to buy in DGB at a low price.  I guarantee you DGB has a much greater chance of doubling in price (50 sat now) than Bitcoin who's pretty much a rich man's game now.  You want to strike it rich like the mining forefathers in any Gold Rush in history, your only chance now is via Alts because they typically follow Bitcoin's rise and fall but still have their own price independence.

Mining is a maverick's game, anyone who only mines Bitcoin's a damn fool.  I've said it once and will say it again, you own the hardware, you can mine wherever you want, you have the opportunity to mine millions of full AltCoin that have a greater wider appeal and use.  Stock up on easy to get coins whilst you can otherwise you'll become one of those trolls who do nothing but whine about having had the opportunity and not taking it.  In the end, you will only be able to blame yourself. 

Lots of experienced miners and traders here telling you Alts are often better than Bitcoin, take the hint.

When Bitcoin moons, AltCoin will move up along.  When BTC went over $1,000, there were not as close to as many quality AltCoins as we got today.  Some coins ride the Bitcoin wave, some seem to have their own market.  I personally mine DGB because I believe it will replace PayPal... and they got a $250,000 investment a few months ago too.  Lots more reasons I could sit here for days but those are my research dollars at work.

It's thing like that, you want to do your research... EXTENSIVELY!!  Not just gather other people's opinion, other miners don't have your best interest at heart.  For every coin I mined, I spent a few days researching their pros and cons and no coin I mined lost in value since starting mining it, whatever the coin is.

Just my wooden nickel...

Uh no..... its not #CoinMarkeCap

your right but trhis doesnt change a thing in market price for any coin only with good support and community background price can be change and for market demand

https://bitsharestalk.org/index.php?topic=14019.msg182306#msg182306