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Author Topic: If btc-> $0 overnight, what will short + long term impact on altcoin prices be?  (Read 1093 times)
BTCtrader71
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January 14, 2016, 03:40:56 AM
 #21

@thread
You speculate for both positive and negative possibilities. This prepares you for whatever is thrown your way. You can set a plan in the (however unlikely) event that something does go awry. NEVER, not even for one second, assume that Bitcoin is immune to outside threats, NEVER! After all, it is just a computer program that was written by some guy, which uses an encryption algo that was written by some other guy at some agency. Windows, Linux and OSX are also written by some guy and none of them, even with dispensable amounts of capital, are flawless.

The core devs are working on more urgent problems right now. But I would certainly hope that at some point once some more basic issues (e.g. scalability) are worked out, attention will turn to this and other doomsday scenarios. If we have backup plans in place that everybody knows about ahead of time, then the blockchain can survive. For example: perhaps next-gen miners could be constructed able to do sha2 but also handle the switch to sha3 were that to occur. Hell, we could even plan for WW3 with EMPs if we had a bunch of miners on land and in space designed to withstand such an occurrence. (Independent power supply, electromagnetic shielding, ability to shut down and reboot on their own, etc.)


People here know I'm no troll. I contribute realistic and valuable content in nearly every post I make. Even if it's not always what people want to hear, It's things that need to be said

I'll vouch that you're no troll. You outline some bearish market scenarios that I don't want to hear but I'm better off if I do.

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traderbit
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January 14, 2016, 07:20:16 AM
 #22

Assume for this question that whatever caused bitcoin to fail (for example, crypto crack) did not also apply to altcoins (I know that in reality that this isn't realistic).

My prediction is that in the short term altcoin prices would crash too, but in the long term they would absorb the old market cap of bitcoin and (one of them) would head towards world domination. 

My feelings are that as long as you diversify your crypto holdings, you are practically certain to become extremely rich in the future.
If bitcoin fails than no other crypto can survive that is the main truth.
I think that they will survive, especially these coins that are crypto 2.0, of course the value will be much lower but they will survive at least.

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January 14, 2016, 07:39:04 AM
 #23

All altcoins will crash with bitcoin to prices near 0 as well.

Good marketing, showing how the coins differ from bitcoin (fixed flaws that caused crash) may then provide a real opportunity for one or two altcoins to rise from the ashes.

Luckily this scenerio will never ever happen, especially not overnight.
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