altcoins such as Litecoin and about hundreds of others only used the bitcoin code. in other words they forked bitcoin programatically speaking.

but altcoins like bitcoin cash and about a dozen after it, not only forked bitcoin code (programatically) but also forked the blockchain too. meaning they built on top of the current existing bitcoin blocks at that time. whereas other ones built their own stand alone blockchain.

so no you can not redeem any of the altcoins like LTC

why in the world do you want to cash out 8000 bitcoin at once! that is about 132 million dollar. do you seriously need 132 million dollar at once?

and there is no way that your government (no matter what country you are from) wouldn't start asking questions. not to mention the huge tax that you have to pay on that much money and all the risks of you and your bank accounts be flagged with a big red flag!

as for the suggestions that  people told you to contact exchanges,... i suggest not doing it specially since you are not in the same country as Gemeni,... finding someone off the market is a better choice but cashing out slowly is a better option.

in any case if you chose exchanges, any of the top ones (bitstamp, gemeni, bitfinex, Gdax,...) would have more than enough liquidity for you to sell 8000 and price don't even move much.

the only thing that this shows is that people regard altcoins purely as an speculation tool and nothing else, even if their market capitalization is an arbitrary large number. there is no usage for Dogecoin! what has it achieved after all these years? what merchant is accepting this crypto"currency"?

these are the factors that matter not market cap!

it is funny how each time the altcoin pumps are happening people start talking about some doomsday for bitcoin!

show me where these crypto currencies such as Cardano, XML, XRP, ETH, DASH, TRX,... can be used as a currency? (i am intentionally ignoring BCH because that is a difference beast with a million backs!). you can't because there aren't any.
the only usage for these are speculation inside exchanges. and each time they get pumped for a while and then forgotten for months at a time while others get pumped and rinse and repeat.

good luck with that...

seriously, someone shared a very interesting video here some time ago about this. the level of corruption is ridiculous in China in a way that they can not do anything about bitcoin mining even if they wanted to.

the government officials are earning a living from the bribes, the power plants are staying alive, there are small cities with jobs and food on their table because there is a mining farm and a power plant alive there that they can work at and make a living, and lots more... government can not just go in and shut it down

are you sure "patronizing" is the correct word to use here?!
if you really mean this then we are at a disagreement. but if you meant to say something like "invested in and showing support for it" then i think it is right. because many people (sadly) look at what these people do so they can copy them! sometimes they follow the good things the right way and sometimes the bad things and the wrong way.
it can be good for bitcoin as it is being introduced to many but at the same time if it leads to more reckless investors then it can not be good.

you seem to be new to this or probably are ignoring the fact that this happens every couple of months

every now and then bitcoin price stabilizes and during that period all the money is poured into altcoins. literary every single one of them get pumped when it is their turn to be pumped.
each go up ridiculously, i have see pumps from a tiny 100% to 8000% in altcoins and all of them get dumped to give their place to the next pumping altcoin.

any investment has risks that can lead to money loss. when you are investing in something that is easily manipulated and has no real future apart from being used in speculation alone, you are taking even bigger risks and have a high chance of losing money when it all comes down on your head.

if you can't accept or figure out these risks you shouldn't be investing in the altcoins at all. but if you know the risks and know how altcoin pump and dumps work you can manage them better.

as we are exiting last year and the holiday season and entering new year, in January things will start to warm up again and all the dumps will be done very soon.
news like this proves that the FUD campaign has finished for the time being and everyone has been ready for the rally to begin. now they are waiting for everyone else specially the weak hands to come back after their fears dwindle.

arbitrage trading is not such a good strategy in general if you ask me. but it definitely is a terrible thing for a beginner to even try to do it. because it is very easy to mis-calculate things and lost a lot of money.

and there is a more fierce competition when it comes to Arbitrage, a lot of others are doing it who are more experienced and better equipped than a newbie.

this is the dumbest thing i have ever seen in my life regarding altcoins

it is a petition if anyone was wondering, since OP is very misleading. and so far nobody has signed it. and it won't matter at all because nobody cares about it. maybe some bagholders try to do it but not anyone else.

i wonder what would happen if you could vote against it? haha how much negative would it get?

there is not much to think about this news in my opinion. it is so random and too small to even be considered. if you want to think about each of small businesses that start accepting bitcoin payment then you will be thinking all day long because there are lots of them.

of course this is the first time i see someone is also accepting altcoins in addition to bitcoin. but seeing the founder is a 20-year old college student, i am not surprised.

it is not just about the fees. you are thinking too small here regarding Lightning network.

the main thing that LN will bring us is nearly limitless number of transactions per second. for years people have been comparing bitcoin other payment processors like Visa and saying bitcoin is handling 3-7 TPS and they are handling ... TPS.
now with LN bitcoin will be able to handle millions of transactions per second. or even more and all of them will be instant, decentralized and trustless.

until something better comes along that introduces some real innovation that can eliminate the scaling issues that the current existing cryptocurrencies including bitcoin are facing. and by then it also has to be able to compete with bitcoin.

you see bitcoin is not just sitting idle without any improvements! in a year from now (2019) we will have mass adoption of Lightning Network and millions or even billions of transactions per second on the second layer, decentralized and trustless. it is not something you can compete with as an altocin.

are you kidding me?
every time an altcoin that has more than 100 million coins in supply is getting pumped, someone starts this pointless discussion!

the thing you are talking about is not bitcoin market cap it is share of the total market cap.
bitcoin market cap has been increasing day by day.

the thing is, it is very easy to create Market Cap out of the blue with the altcoins. when coins like Ripple suddenly add 10 billion coins to their circulation that will simply add 10-20 billion dollar to total market cap.

and when that happens no matter how big bitcoin market cap is, the percentage out of total will grow smaller.

just because it has happened once it doesn't mean it will happen again. right now we are all in uncharted waters so you can't really use anything from the past to speculate the near future.
besides the price has already fallen enough, if anything it should rise throughout January.

when a coin worth less than $2 is getting close to bitcoin which is above $13000 and you are talking about dominance, you have to start thinking something is wrong with what you are saying!

i mean seriously you are talking about taking over bitcoin with a coin worth $2. where in the world does that sound like a "take over"?

not to mention how centralized they both are and how it keeps pulling out billions of token out of their ass.

the first rule is to invest what you can afford to lose and if you have not done that already then you are in  a lot of horrible days in the upcoming days, weeks, years. no matter what happens to bitcoin price you will always be in constant stress and you will have a heart attack even if price goes up!

and no price is not quietly decreasing. it was a big sudden dump in less than 1 hour that caused a 6% drop.

you need to read more carefully before you start posting random answers!

the OP is clearly saying he is charged 0.05 ETH and even in the picture it is crystal clear that the wallet is suggesting him 0.05 ETH as fee which is $37-$38 for transferring a 0.1571 ETH!

the debates over these things have always been around when it comes to bitcoin and it is not because they are concerned about these things but mostly because bitcoin is decentralized and it is out of the control of anyone. and that is scary for those who are in power.