Every alt coin is priced in Satoshis on the exchanges, if Bitcoin rises and everybody held their coins, the value of alts would go up WITH BTC. And not only that, but if they held them, the alt marketcaps would grow and it would add more value and liquidity to the cryptosphere as a whole.
which coin has the most delusional supporters?
That is a easy one,
BTC has the most Delusional Supporters. Reasons:
1. BTC set its all-time high on
November 17, 2013 at
US$1216.73 on the Mt. Gox exchange.
Price has only recently moved closer to US$500 , which is still over a 50% loss from almost 3 years ago.
(If this had been any other coin, we would all be Deaf from the Forum Users screaming BTC is a SHIT coin!)2. The Delusional believe the halving will double the price,
Here is why it won't, Competition from other coins
Those that are not BTC ZEALOTS (like r0ach) , would just as soon use LTC or Doge or another coin, for the faster speed and lower transaction fees.
3. Coinbase the Major US Crypto Wallet Provider will soon offer other coins beside BTC, such as LTC and Ethereum.
This will eat directly into BTC biggest advantage, the fact they
were the primary coin used to transfer wealth between the virtual & physical world.
This will directly weaken BTC main reason to be purchased.
(Fiat to Crypto Conversion)4. BTC price is already too high to be considered for micro payments anymore.
So they are also losing that possible utility to other coins.
5. China now controls over 60% of BTC mining and could 51% attack it on a daily basis if they were so inclined.
6. BTC is Never Going to Replace VISA , it can barely handle it's current transaction volume.
7. Myth: Blockchain is going to be a Giant Centralized DataBase for the World storing all data.
Hate to break it to everyone this is the Biggest Bullshit line, I have ever heard.
It basically all comes down to resources , are you going to download (currently 70 Gigabytes of blockchain) and keep it synced.
https://blockchain.info/charts/blocks-size When they do increase the transaction size , it will grow even faster.
In comparison , I can download the ENTIRE Encyclopaedia Britannica 2015 version at only
4.2 GB Blockchains are not efficient Databases due to the
Blockchain Bloat, at some point , any blockchain will be so large, that it's user base will
demand a new genesis block and a fresh start.
8. BTC began in January 2009, it is slow & antiquated & too resource intensive compared to almost every new coin.
9. r0ach thinks it has more value, because a few rich guys & corps are pumping its value,
the rich guys & corps are controlling the mining & Asics to sell the simple minded a virtual coin for almost $500.
When it only real value will be as a remittance service for a small volume Globally, which LTC & Doge & Others could easily replace.
I can transfer $100 of LTC or Doge Faster than BTC at a lower transaction cost, the majority of the world will always chose the lower price option
especially if it outperforms the more costly option.
10. PoW generation of coins , due to difficulty increases has proven to be a no win situation for All , but the very rich that can game the system with free electricity or early ASIC adoption , so for John Q. Public BTC has no real value to just hold the coin, as he is not privily to insider information that would allow him to trade at a profit.
So for the Public Use , Most will Buy and send BTC , which the person receiving will immediately convert to Fiat or some other coin
(like a Proof of Stake where they actually can make more by holding it.) Ethereum has the 2nd most Delusional Supporters. Trying to make their Blockchain into a Programming Language is beyond Asinine.
It will draw too many resources and other leaner programming languages will always be chosen over it for real work.
Instead of Ethereum it Should be call the
Malthusian Catastrophe Coin.
https://en.wikipedia.org/wiki/Thomas_Robert_Malthushttp://cryptomining-blog.com/7840-ethereums-blockchain-data-continues-to-grow-rapidly-in-size/
Ethereum’s Blockchain Data Continues to Grow Rapidly in Size
10, May 2016
ethereum-blockchain-file-size
It is not even a year since the mining of Ethereum’s Ether (ETH) coins has started and due to the short block time and the huge user interest the total size of the blockchain data of Ethereum has already grown huge and continues to grow rapidly. The current size of the Ethereum blockchain data files is already over 16 GB and just about two months ago it was a bit over 9 GB. With the increasing demands for storage to host the full blockchain data as a part of a local wallet or a full network node more users might be switching to online wallets and other services that do not require the user to have a local copy of the data files such as exchanges for example. With more users getting into Ethereum the number of transactions on the network is also growing and by the time when the switch from PoW to PoS phase happens we could even have Ethereum’s blockchain size getting close to that of Bitcoin. If you look only at ETH alone even 20 GB might not be that much, but if you have a local Bitcoin wallet as well as a few other crypto wallets installed on a PC with the full blockchain stored locally you might even start experiencing issues with available free space and things will only get worse with the fast increase of the size of the blockchain data.
@r0ach,
would you like to pretend you have counter arguments or will you be using Humor to mask the fact that the above is accurate , like in most of our encounters.