i honestly don't see any connection between the two. the crash is because they started scaring the newbies with "China banned bitcoin" FUD like they do every year: https://bitcointalk.org/index.php?topic=2768102.0

and when bitcoin drops, altcoins follow.

and nothing is good about this crash because it shows how useless and fragile all these altcoins are. there shouldn't be any drops in any of them if they were real legit useful projects!

i have been around for a while and see every now and then a news like this come out talking about how they are going to ban bitcoin and how the world will end, and the timing has always been perfect. so what i do is that i buy the freaking dip and now i have a lot more bitcoin than i should have had without the FUD

this was a great post thanks javkot.

that has always been what happens when bitcoin price drops!
i keep telling people but they are still skeptical about it: whenever bitcoin rises or drops, altcoins drop hard unless there is a huge pump for them which will slow down.

and right now the fact that these altcoins have been getting pumped hard for a while makes things even worse for them because traders were already getting ready to dump and this drop was their excuse to hasten the process.

no it won't kill them and it shouldn't kill them.
worst case scenario these kinds of bans will kill the heavily centralized coins that have banks invested in them. coins such as Ripple and Ethereum will take a big hit because those banks have to pull out since it will become illegal for them to have any investment in these coins.
but people will continue investing in anything they like specially when there are a lot of decentralized platforms available for them.

Korean statement was actually pretty clear in my opinion.
currently a new serious of FUDs started based on China and the fact that they have the same 2 year old regulation war with their exchanges. and even though they have closed them a couple of months ago, the FUD is still saying they are going to shut them down and ban bitcoin, blah blah.

we have to start wishing these countries such as China, Korea and even Russia ban bitcoin and all the cryptocurrencies soon so that we can have the drama once and for all and get it over with finally after 9 years of same FUD i am starting to get sick of it.

that is why volume on P2P exchanges such as localbitcoins goes to the moon each time there is a news like this. they can not do anything about anything that is decentralized.

they were talking about bans in India too and while they were doing it price broke $10,000 in India while it was still struggling at $6000 in other exchanges.

when did that happen? LOL

usually when a Chinese company wants to move, they move to somewhere close in Asia not all the way on the other side of the world. so i doubt this can happen. and i doubt it even more because of the way you started your topic and you didn't even give us a source.

holding some coin in your wallet is no better than speculation, in fact it is exactly like speculation! you invested in it and it has nothing to do with "adoption"

this is more like it.

another example is Byteball. https://byteball.org/
they are creating actual incentive for real adoption by merchants. it is their "cashback program". in most cases it is 10% of the purchase amount. and it is paid back in actual Byteball (the coin itself, no tokens,...)
https://byteroll.com/cashback
https://medium.com/byteball/byteball-cashback-program-9c717b8d3173

congratulations you just lost more than half of your salary because the coin you chose (ripple) got dumped hard ever since you started this topic and the drop was big as it always is.

if you ever had the time, check out the history of the coin you want to invest in and you will see there that the price movement is not healthy at all. it is a clear example of pure pump and dump.

as long as there are dumb and lazy people out there, there will be lazy scammers like this too. there was a time when scammers had to put a lot of effort into convincing people to fall for their lies but now it seems like they just create a fake site and people fall for it easily...

not to mention that i have seen some of these people who seem legit are scamming themselves. for example the ICO people create the fake website themselves to also rob people in an additional way!

you will never know.

maybe those who lost their coins find some way to recover it, like remembering the password. recovering the lost wallet file using HDD recovery tools,... or maybe they say they have lost it but they never did....

you HODL something that is worth HODLing not anything that moves! hodling altcoins is not really worth it since as you already noticed they get pumped and dumped... how are you going to hold something that is used by every single other person as a temporary pump and dump thing? you will be left holding bags!


no i will sell high and buy the next altcoin which is getting pumped instead to sell that high after the pump was over and the next and the next...

that is the issue with all these useless forks. they are mainly scams or incomplete with some incompetent developers which means the exchanges may not open up deposit/withdrawals for a very long time for these coins.

check out Yobit, they may have something open. otherwise i wouldn't get my hopes up for a market to dump these coins for the time being.

for mining to be profitable you need two things: cheap electricity and cheap equipment. the cheap equipment can easily be gained in China that is why there are a lot more mining farms over there than anywhere else.
as for electricity India has cheap electricity but not that cheap. but there may be some ways to start some mining operations over there.
i know there is at least one mining farm there. i think it is called bitcoin-india or something like that.

one benefit of mining inside India would be the fact that you can sell your bitcoin a lot higher than market price because price over there is very high.

everything?
only bitcoin matters and that is nearly stable with little ups and downs.

the others which are altcoins are still getting pumped and dumped like always. the things you are seeing red in past 2 days are those which were pumped 3+ days ago so now they are getting dumped and others which you don't see are now getting pumped and are green.

it is a joke coin but a joke that people liked!
otherwise there are a lot of other joke coins exactly like Doge with even similar names and very similar settings and none of them are even alive anymore.

Doge being a fun coin with a community around it, and with fast transactions which are also cheap due to high mining reward of 10000 Doge per block keeps it alive. so traders from time to time go to it and start pumping it.
it is not "Always" mooning. it gets pumped sometimes. and then it is all down the hill.

Ripple has good liquidity and goes up an down a lot so it is a good thing for day traders to make profit from it if they know how to and if they are willing to risk it.

but if you want to trade/invest in a medium term (longer than day trading) then it is not such a good time to invest in it as it is currently in a bubble which is bursting and you will be taking a big risk buying near the top and during the dumps always.

if you plan on buying a with very small amount of money then you are fine. it works well enough for you and your cost will be less than bitcoin withdrawal fees.

however if you plan on buying with a medium amount of money then you'll find out that your trading fees in total in multiple trades that you do will be a lot higher than the one time bitcoin withdrawal fee that you are trying to avoid.
additionally there is the risk that those coins get dumped and you lose even more money due to the price drop. even a 1-2% drop means a lot bigger than the withdrawal fee you are trying to avoid.

when one of the biggest exchanges (bittrex) started scamming people i clearly foresaw this to happen. all that volume started migrating to other platforms and Binance being a decent trading platform could easily take the market out of their hands.

i have a concern that it is based in China although i see OP saying it moved to Tokyo which might be fine for now. but that doesn't eliminate the risk of them pulling a cryptcy or bittrex on us again.

there is no believing. there is either power or there isn't. it is as simple as that. and if there is nothing there then price wouldn't have gone up this much in first place and if some day that goes away the price won't stay up long either.

and so far as you can see price is not only staying up but it is stying up against all the attacks and FUDs that are happening against bitcoin these days.