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Author Topic: Recent alt coin re-prolifiration helps BTC price to go up  (Read 710 times)
johnwhitestar
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February 21, 2013, 11:01:21 PM
Last edit: February 21, 2013, 11:19:35 PM by johnwhitestar
 #1

I've noticed that after the price of BTC went up, there was a strange rebirth of all alt coins.
Even the BBQcoins so much scorned on this forum, now are widely discussed.
This new interest to alt-coins is distracting, from my point of view, some of resources from BTCs driving the BTC price up (together with the other factors).

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markm
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February 21, 2013, 11:25:54 PM
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We don't want to spend bitcoins, hey are best saved, that is, used as a store of value.

The price of most alt coins is ridiculously low in terms of bitcoins, so although we would love to buy bitcoins with them doing so at these ridiculously low exchange rates is just a waste of altcoins, better to wait for their price in bitcoins to go up first.

Does talking about them effect their price-in-bitcoins? Hmm, dunno, lets try it and see. Smiley

Oh look, bitcoins are going up, no wonder altcoins prices are down, everyone who was able to get a much better price than the currently ridiculous rates for altcoins maybe bought bitcoins with them.

Wow, altcoins are cheap, one could buy up oodles of them for such trivial numbers of bitcoins that I doubt the bitcoin price would even notice. SO maybe my bitcoins will keep going up in value even if I dump a trivial amount of them on some of those ridiculously cheap altcoins...

I know some players look at http://galaxies.mygamesonline.org/digitalisassets.html and figure hey, bitcoin is no longer going down relative to alternatives, maybe bitcoin is the one to be holding right now...

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johnwhitestar
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February 22, 2013, 06:52:25 AM
 #3

We don't want to spend bitcoins, hey are best saved, that is, used as a store of value.

The price of most alt coins is ridiculously low in terms of bitcoins, so although we would love to buy bitcoins with them doing so at these ridiculously low exchange rates is just a waste of altcoins, better to wait for their price in bitcoins to go up first.

Does talking about them effect their price-in-bitcoins? Hmm, dunno, lets try it and see. Smiley

Oh look, bitcoins are going up, no wonder altcoins prices are down, everyone who was able to get a much better price than the currently ridiculous rates for altcoins maybe bought bitcoins with them.

Wow, altcoins are cheap, one could buy up oodles of them for such trivial numbers of bitcoins that I doubt the bitcoin price would even notice. SO maybe my bitcoins will keep going up in value even if I dump a trivial amount of them on some of those ridiculously cheap altcoins...

I know some players look at http://galaxies.mygamesonline.org/digitalisassets.html and figure hey, bitcoin is no longer going down relative to alternatives, maybe bitcoin is the one to be holding right now...

-MarkM-



I was speaking about mining equipment however....

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