waves and generally all the altcoins are being traded on the couple of top altcoin exchanges, mainly poloniex and bittrex. so their prices are also controlled by these two big exchanges. and both of these are outside of China and if i am not mistaken they are based in US.

as for buying, the current market is pretty bad for any investment for altcoins. you should be very careful in general not just about this particular coin. sometimes doing nothing is even better.

well, so far bitcoin is not banned and there is no plan or even indication of banning bitcoin so all these arguments are moot!

and while people are arguing over pointless FUD and discuss whether it is true or not and what will happen if... some sneakier people who know the reality have been accumulating cheaper bitcoin in bottomless their bags.

one of the reasons why i say JP Morgan is heavily invested in bitcoin is because they know the market pretty well!
the timing was phenomenal. their CEO could have come out and call bitcoin a fraud anytime he wanted but he chose that particular date. why? because market was already on a downward spiral and the bottoms were being tested. it just needed a nudge. and they gave it to bitcoin.

now THEY have earned $1000 per each coin they have bought.

there is no bottom because you are generalizing them. but instead each of these have their own bottoms.

bitcoin's bottom was the $3000 resistance which is not done and it is over now. and price is testing the $4000 to rise above it now.

the bottom of each altcoin is also different. most of them should reach zero to really bottom out and die. but the big ones with lots of newbies investing in them will last long but will continue going down.
each can be studied and you can find the bottoms of them though.

both are equally terrible for long term investment. and for short term investment and for using pump and dumps to make profit, all of them are good.

in the end it won't matter when it comes to pumping an altcoin.
for example Ripple has one of the biggest supplies among altcoins but it still got pumped pretty hard this year. i believe it was about 6000% in 2 months.

maybe. but in my experience none of it matters.
 look at ethereum for example. it is a crap coin with nothing good and lots of bugs and hacks and shame but an awesome pumping team with lots of money at their disposal.

in short you should look for biggest pumps if you want profit.

China doesn't affect shit.
it is the stupid market that reacts to stupider news and that is different.

it may have been any other news. we have had a lot of them this year alone but everyone seems to have forgotten that! the FUD about split which came at least 3 times. once because of BU, another because of hashrate changing and another for August split. there was also another huge one back in ETF time which was rejected. all these had nothing to do with China! and yet they were big.

for me it is not just black and white to choose one and deny the other. i can very well be right in the middle, the grey area where both of them are good and bad at the same time. there are times when you want a bank for your fiat and all the services they offer but also there are downsides to it.
and then there are times when you want the financial freedom that bitcoin gives you. the decentralization of bitcoin which also comes with great privacy is always a useful feature.

scam? lets see.
they attacked bitcoin, its developers, the miners, spam attacked the network, and spread a lot of FUD about bitcoin. they changed the difficulty of their coin and made it temporarily profitable to steal hashrate from bitcoin and they were temporarily successful too.
they have not stopped these attempts yet.

scam eh? i don't know if we can call it that but it certainly is malicious.

lets compare them:

trading with USDT:
when you make a profit it means you make more USDT. if you have 10,000 USDT today it is worth 10,000 USD but it may be worth 9,850 USD too if it falls..

trading with BTC:
when you make a profit it means you make more BTC. if you have 2.857BTC today it is worth about 10,000 USD but in 6 months it can be worth 18,000 USD

i think you can guess from my name that it is Bitcoin!

bitcoin: for long term, a solid investment with a good future so a good long term investment.

altcoins in general: all are good options for a short time.

LTC: it has the Lightning Network thing and then the Atomic Swap will lead to breaking all ATHs and surprising everyone.

GBYTE: or byteball is a very good altcoin with solid development and a nice price. and it has bottomed out already.

PIVX: they call it the decentralized Dash for a reason.

Cloak: an honorary mention since it is performing nice in my opinion

if these users sell on the exchanges because of panic sell and then cash out the fiat then there will not be any additional "surplus of supply" on any other exchange!
instead there will be a recovery because of the huge drop and then because of that recovery (which is a price rise) there will be a lot of FOMO and all those who sold prior to this will start FOMO buying with the money in hand.

there is actually an old topic by @dree12 who is still active too. but the topic is from 2014 even the edit is 2014 and it lists all the major Heists and other scams.

List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses

according to it, the biggest one was indeed MtGox with 850,000BTC

logically altcions are not and should not be connected to bitcoin price. they must act separately and on their own. but realistically this never happens. whenever bitcoin has dropped all the rest of them dropped harder with it.

but exceptions like this happens all the time. if you look at the market in past 24 hours you will always, without exception, see at least 2 coins rising. that is the altcoin pumpers hard at work.
looking at coinmarketcap today's coins were GAS, Edgeless and Cloak

the same future that i had in mind before!
nothing has changed. the government has always been worried about bitcoin's usage and they have been a lot more worried about unregulated services and the more money these services (such as exchanges) handle the more worried the government becomes. as a result they will continue to try and regulate these services to prevent illegal businesses from running under their nose using their country's fiat currency.

bitcoin however will always remain a decentralized currency that nobody can control. its price will remain highly volatile for some more time and as market grows this volatility also decreases.

also as time passes, with more adoption of bitcoin it will be used more as a currency than just an investment. there will eventually be a time when market is too huge that the price will move the same as any other currency such as USD, JPY, EUR, GBP against each other.

market is still small and the orderbooks are way too thin and with that attribute it means price can easily go to some number if there is a large enough sell or large enough buy for pushing in other direction. that is in fact the reason why manipulation is rather easy here.
and as you can see curretnly price is $3241 and we had nearly a $300 swing because of what i said!!!

you should have at least talked to your overlords that you are advertising for to pump BCC altcoin or at least put up some buy walls like those that ETH overlords put up to prevent its crash in the past weeks. then we would have believed you a tiny iota more.

i am not complaining though, i am waiting for you to pump BCC altcoin soon. nobody enjoys an altcoin pump more than a trader who wants to earn more bitcoin profit

that is a very good plan, specially if you acted fast before the drop not near the end of the drop. but also using tether (USDT) is risky because that can also drop hard. imagine if everyone else were doing the same thing as you did and sold everything they had slowly to buy USDT. when the bottom is reached and recovery starts they will dump USDT to buy back things they sold and USDT will drop hard because of sell pressure.

your question is not at all clear!
10 million what?

10 million dollar to 100 million dollar?
this is impossible, the market is not that big for you to even bring that kind of money in and forget that kind of profit out of it!

10 million satoshi to 100 million satoshi?
then why not just call it 0.1BTC to 1BTC? of course that is possible and rather easy to do but not with 1 altcoin. you can do it faster and much easier if you start with one and dump it after rise to go to the next.

in any case whatever weird thing you mean by 10 million, know that if you are new to trading, then you will lose your 10 million whatever faster than you can think.

No, i don't expect any more drop for bitcoin.
altcoins is also too general a term for me to give opinion, there should be more specification.

but also i don't put aside the possibility of more drop. i think the safest assumption is that the chances of more drop is extremely small right now. the FUD can not get bigger than this. and you can't expect people to keep selling forever. it stops at some point when they run out of coins to sell and there is only whales left with a lot of coins in their pockets which they bought cheap at the bottom.

in my opinion this question and also the dip of recent days only proves that people have never understood what bitcoin is and what bitcoin does! they have all been just hanging around hoping to get more fiat just for buying something that is called bitcoin. it might as well be anything else, they would never care.

and this dip is good because it flushes these type of people out of the market and leaves those who understand bitcoin. THEY deserve to own more of this precious scarce currency not those who look for more fiat.