What's with value of Alts today?

[GSnak]

Dilution? They've all fallen off a cliff.

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[FuzzyBear]

they were all hyped up too much and basically now they hit exchange are price pumped high till enough can be sold, and that's today / yesterday when the big holders just dump hence the price drop and people caught holding worthless coins, also don't forget that this drop will scare people with medium amounts... they dump as they see their little fortune dwindling to, so little panic sale... but yeah seems like the lemmings have arrived at the cliff

[Endgame]

What goes up must come down, particularly when you're talking about highly speculative alternative currencies with no real world use.

[justabitoftime]

What goes up must come down, particularly when you're talking about highly speculative alternative currencies with no real world use.

Exactly right. Most alt coins will have trouble retaining value because of no real world usage. Hmm, I wonder which coins have the community and direction to push real world app?

[HowGudAmI]

LTC (the main ALTcoin imo) has held pretty well so far today, I make it to have dropped less than 5% since yesterday when compared to BTC, yet its dollar price is consistent with or a little above yesterdays.

It is the only ALTcoin that matters at the moment imo, It can serve a genuine purpose alongside BTC.

[Notanon]

Out of the alts, Litecoin is the only one so far that has had more development and markets available compared to clone coins that really only get traded on exchanges at the moment instead of being used to buy things. I daresay it is probably more decoupled from Bitcoin than the other coins as a result, meaning it is less susceptible to price fluctuations resulting from Bitcoin going up and down. Just really need to get its own dedicated fiat exchange without needing Bitcoin as an intermediary step, and something like a Bitspend equivalent to really get it taking off.

For the rest of the alts, would be advisable to start doing the same, or else face eventual extinction. That said, would be nice if there was a universal equivalent of Bitspend, would make using the coins I've mined to buy things more easier (particularly tunes from Beatport or other music sites).

[GSnak]

What goes up must come down, particularly when you're talking about highly speculative alternative currencies with no real world use.

That's always been the case. I was wondering what the catalyst was for a simultaneous dump of all of them a few hours ago. I supposed the money's being moved over to BTC because that's where the current growth is.

[mc_lovin]

LTC (the main ALTcoin imo) has held pretty well so far today, I make it to have dropped less than 5% since yesterday when compared to BTC, yet its dollar price is consistent with or a little above yesterdays.

It is the only ALTcoin that matters at the moment imo, It can serve a genuine purpose alongside BTC.

+1

[gabbynot]

What goes up must come down, particularly when you're talking about highly speculative alternative currencies with no real world use.

Especially since they'll have another 50-100 types of altcoins to compete with in the next month.

[2Kool4Skewl]

What goes up must come down, particularly when you're talking about highly speculative alternative currencies with no real world use.

Especially since they'll have another 50-100 types of altcoins to compete with in the next month.

lol

The more coins the merrier!   

[seleme]

BTC is shaking, it's never a good thing for alts. Though some went down too much and not proportional to bitcoin.

Hopefully Bitcoin will manage to avoid bigger crash or Houston, we might have some problem 

[manface]

Mincoin actually rose 50% today in comparison to the other altcoins. Likely due to the low inflation of the coin (only 2800 mined a day).

http://www.mcxnow.com/exchange/MNC

http://www.cryptocoincharts.info/period-charts.php?period=2-days&resolution=hour&pair=mnc-btc&market=mcxnow

[CoinHoarder]

I've been warning people that were investing in Feathercoins/Chinacoins/Whatevercoins that this was going to happen. But, they labeled me as a troll and drug my name through the mud time and time again.

There is/was an incredible marketing force pumping prices up by creating many threads, and trying to spark interest here on the forums. It seems these people actually believe in their coin, which is the crazy thing to me. They go around spreading butterflies and fairy tales about their coin- "it's going no where but up."

But waiting in the shadows (or talking up the coins themselves), there will always be a bunch of miners/speculators/hoarders waiting for the most opportune time to dump the coin on the suckers that actually believed their sales pitch, leaving them holding onto the worthless coins that they paid way too much for.

In summary... I hate to say I told you so, but I'm not that sorry because most of you were rather rude to me when I was speaking my mind about Feathercoin/chinacoin/whatevercoin. I hope maybe some of you learned a good lesson. Welcome to the world of ALT coins, no hard feelings here.

Cheers,

Ch

[comet1440]

 ^ +1.

[rbdrbd]

Mincoin actually rose 50% today in comparison to the other altcoins. Likely due to the low inflation of the coin (only 2800 mined a day).

http://www.mcxnow.com/exchange/MNC

http://www.cryptocoincharts.info/period-charts.php?period=2-days&resolution=hour&pair=mnc-btc&market=mcxnow

The problem with all of this is that many of these altcoins have such low trading volume on the exchanges that it doesn't matter. If you were to mine a lot of them, good luck getting rid of more than 1 or 2 BTC worth of them without clearing out the buy book all the way down.

[seleme]

It seems these people actually believe in their coin

Believe my ass, they have it by buying it early or mining it as they missed trains on earlier coins so they pump it up so they could sell it for good price. Most of them don't have idea what it is about.

I got caught with pants down with CNC though I was purely speculating on it's price. I hope I'll manage to recover as I haven't got in at too high point but if not, whatever, each buy is risk, I know that when hitting buy button. I wish bitcoin transactions are fast as CNC ones though.

[Impaler]

My analysis show that LTC has gained market-share at the expense of all other Alts, but BTC has not moved significantly against the alts.

[Praxis]

Saturation, however BQC is the new kid in town, BTER price rose 140% in a few minutes ...

[etbbtc]

no value!

[powdabam]

You guys should create another alt coin to throw all your miners at, this will make you feel better.  Trust me.