switching from btc to alts? Can altcoins sustain upward trend?

[taxmanmt5]

Are you not on the exchanges to "exchange"?  I do not understand, are there really those that only deal in BTC and FIAT?  That is the end of the l'intelligence spin cycle there.  If you posted a question like this here, then by the time it has been answered the answer is different.  If you are storing your coin balance in just one crypto, then I am glad when price changes take your money.

[mindrust]

Because of some issues that Bitcoin is having some users are thinking about abandoning the Bitcoin and choosing some alts. But to my opinion this would be wrong decision. Although many altcoins are showing rising I don't see any particular potential to replace the Bitcoin or achieve its value. So I wouldn't switch to any alt at the moment.

you usually abandon something for another better thing!

There isn't a single altcoin which is better than bitcoin. Not even one.

Bitcoin is accepted worldwide. Not the others.

Your techically superioreum coin is not being used for purchasing stuff but pump&dump. Do bitcoin has problems? Yes. But they are temporary. Segwit is coming and no more problems.

[BitFinnese]

it is funny how all these news sites are publishing articles talking about potential AFTER the rise happened! talk about a poor article eh!

it is the same with bitcoin, price rises from $1000 to $1250 they all start praising it (8btc included) and quote people we have never heard of telling us how awesome bitcoin investment is and how it is heard to $5000, or $50,000!

and when price comes down from the ATH of $2900 to $2500 the same sites start quoting some other people we have never heard of who are saying how bitcoin is garbage, how it was a bubble and how it is headed to $500, $200 etc

It is a news and/or article about bitcoin and random people idea about it.  So if the site thinks that the message of an unknown people will get interest from the masses then they publish it no matter how contrasting it is prior to their last publish.  


I always believe alternate cyrptocurrency can sustain their upward trend as long as people are flocking in to their coins.  Aside from that most successful ICO can do that anyway.  Think of a huge premine reserved to the dev team plus millions of money collected from their crowdfunding.  They have a token to sell when price is going up and a money to buy when token price goes down.

[Doofus]

Anyone who ignores alts as inferior is very shortsighted, and has missed a ton of profits. Likewise it would be silly to ignore bitcoin, though the faster they make changes to decrease fees and make it more scalable the better. None of these are good as currencies, except tether, because they are too volatile. I see them more as small cap stocks or commodities.. fixed supply with varying demand.   

exactly, i'd like to swtich to ltc and eth for a while and when a fork occurs and the market decides a winner, i'll switch back to btc.

[Sadlife]

Nope, a ltcoin is just good for short term investment while is a safe haven for your assets that might reach $250000 in 2020, altcoins are just hype for now and some news media are promoting it. Some people are just buying lots of altcoins like ETH and wait for the price to pump for them to convert it back to bitcoin. Because bitcoin is the only crypto currency that has million of support ans it is widely use as payment method in both online and local shops, it is also being used as payment in goods and services. That's institutional investor got their interest in bitcoin and some countries already legalize it.

[bluefirecorp]

Because of some issues that Bitcoin is having some users are thinking about abandoning the Bitcoin and choosing some alts. But to my opinion this would be wrong decision. Although many altcoins are showing rising I don't see any particular potential to replace the Bitcoin or achieve its value. So I wouldn't switch to any alt at the moment.

you usually abandon something for another better thing!
like abandoning old fiat and banking system to move to the decentralized system that bitcoin has offered.

so if you want to find an alternative for bitcoin, that alternative must be better. not just rising in price!
and with that in mind, there is nothing better than bitcoin. there are a lot of awesome features in altcoins but when you check all the pros and cons of each of them you will see that they also have numerous flaws.

Yes exactly switching happen for a good cause. When you know that the new choice will be better than the old one. So in this case you try to find something new with much better qualities than the one you are already using. There is nothing wrong in adopting anything new but if it the old one still is the better one then your decision is a wrong one. So, simply bitcoin is the best one currently.

[Spoetnik]

Supply & Demand is not a hard concept to grasp.
So what do you think ? 

[xbiv2]

Altcoin is danger.
see it:

[Spoetnik]

Hey Dawg i heard you like ICO's ...
So i created an APP's platform called Etherem ...
I put an ICO in your ICO ! 

Ohhh the luscious sweet ROI's 
I can just taste the FIAT already.

[deisik]

Because of some issues that Bitcoin is having some users are thinking about abandoning the Bitcoin and choosing some alts. But to my opinion this would be wrong decision. Although many altcoins are showing rising I don't see any particular potential to replace the Bitcoin or achieve its value. So I wouldn't switch to any alt at the moment.

you usually abandon something for another better thing!

There isn't a single altcoin which is better than bitcoin. Not even one.

Bitcoin is accepted worldwide. Not the others.

Your techically superioreum coin is not being used for purchasing stuff but pump&dump. Do bitcoin has problems? Yes. But they are temporary. Segwit is coming and no more problems.

The BigSplit is coming and our problems may have just started

At first, it was like Bitcoin was going to split into 2 different branches, then people started to talk about 3 independent chains. And look, today I read that it looks more like 4 separate Bitcoins after August 1st. I guess when the day of the BigSplit actually arrives, Bitcoin will just disintegrate into a myriad of irrelevant chains, subchains, and subsubchains. Maybe, that's the whole point of the controversy we see these days and its ultimate goal?

[HardFireMiner]

Better to switch to FIAT from BTC than to ALTs, but that's just my opinion.

Bitcoin is the king, going to an alt is like switching the king for a craftsman at the king's palace - he may be skillful, even better than the king at some skills but he still works for the king. So you abandon the king to work for the king through a 3rd person.

I hope I made it clear even for 10 year olds, good luck with the switching.

[bearex]

I think they can. Although i still think ETH is the "safest" altcoin, so i would invest most of BTC into it. But overall, i believe they have better future and purpose than bitcoin (all of the altcoins), so you should go with them.

[findingthemoon]

The altcoin total market cannot sustain this upward trend but individual altcoins with great promise can. At the end of the day altcoin investment is high risk for high reward. When the big crash comes most altcoins will suffer greatly and only a select few with steam on ahead.

[NewalTurim]

Because of some issues that Bitcoin is having some users are thinking about abandoning the Bitcoin and choosing some alts. But to my opinion this would be wrong decision. Although many altcoins are showing rising I don't see any particular potential to replace the Bitcoin or achieve its value. So I wouldn't switch to any alt at the moment.

you usually abandon something for another better thing!
like abandoning old fiat and banking system to move to the decentralized system that bitcoin has offered.

so if you want to find an alternative for bitcoin, that alternative must be better. not just rising in price!
and with that in mind, there is nothing better than bitcoin. there are a lot of awesome features in altcoins but when you check all the pros and cons of each of them you will see that they also have numerous flaws.

That is a good point,of course you have to select a better option. As of now, still its OK with bitcoin. If you are going to abandon it, better  transfer it to the top ten cryptocurreny in coinmarketcap. At least, it has a big market capitalization.

again you didn't understand my point.
the top 10 cryptocurrencies on marketcap are on top because they have a big number called marketcap. it does not indicate they are better than bitcoin or even be good!
it just shows they have either a high price or a high amount of coins available. such as XRP for example.

as far as investment and making profit is concerned altcoins are awesome. they get pumped 500% to 1500% in a short time like a week and give you a lot of profit if you act quick.
but as a real decentralized cryptocurrency that can act both as a secure store of value and a secure currency, they are not so good.

I totally agree for the short term profit of altcoins. Observed the market since a while and got started recently with a limited amount of money. So my strategy right now is hoping for some pumps in altcoins to dump them and so on and so forth. I guess thats what a lot of people are trying to do

However, regarding the big number of marketcap I am not quite sure how to interpret the big difference between a high market cap and low price of the altcoin like in the case of STEEM (https://coinmarketcap.com/currencies/steem/). Is that a bad sign since there are a lot of coins out there, the price will probably not rise significantly any time soon, I assume?!

[niisarearning]

Because of some issues that Bitcoin is having some users are thinking about abandoning the Bitcoin and choosing some alts. But to my opinion this would be wrong decision. Although many altcoins are showing rising I don't see any particular potential to replace the Bitcoin or achieve its value. So I wouldn't switch to any alt at the moment.

Bitcoin having only issue now that transaction charges only for micro transaction not for big fund transfer . The people who is using to transfer good amount of bitcoin (Converted fiat currency) they don't feel transaction fees too much . Yes of course people are switching alt not only because of transaction charge they see it as a another investment (trading).Finally they convert their profit into bitcoin

[Sweetbtc]

Altcoin is danger.
see it:

You are like the Cocaine Cowboy losing $6,285,000 when the South American banks folded into the new regime.  Thank God for the power of non-research to eliminate the chaff and leave the wheat. 

[Netnox]

Anyone who ignores alts as inferior is very shortsighted, and has missed a ton of profits. Likewise it would be silly to ignore bitcoin, though the faster they make changes to decrease fees and make it more scalable the better. None of these are good as currencies, except tether, because they are too volatile. I see them more as small cap stocks or commodities.. fixed supply with varying demand.   

exactly, i'd like to swtich to ltc and eth for a while and when a fork occurs and the market decides a winner, i'll switch back to btc.

By then it will be too late to purchase BTC. If anyone of the chains emerge as the clear winner, then the prices will rapidly rise upwards. Remember what happened to ETH, after it won the battle against Ethereum Classic. But if both the chains remain alive without a clear winner, then the alts will gain. There is a strong chance that the market cap of ETH will overtake the combined market cap of BTC and BTC Classic.

[deisik]

Anyone who ignores alts as inferior is very shortsighted, and has missed a ton of profits. Likewise it would be silly to ignore bitcoin, though the faster they make changes to decrease fees and make it more scalable the better. None of these are good as currencies, except tether, because they are too volatile. I see them more as small cap stocks or commodities.. fixed supply with varying demand.   

exactly, i'd like to swtich to ltc and eth for a while and when a fork occurs and the market decides a winner, i'll switch back to btc.

By then it will be too late to purchase BTC. If anyone of the chains emerge as the clear winner, then the prices will rapidly rise upwards. Remember what happened to ETH, after it won the battle against Ethereum Classic. But if both the chains remain alive without a clear winner, then the alts will gain. There is a strong chance that the market cap of ETH will overtake the combined market cap of BTC and BTC Classic

As to me, there is no such chance

Since you are mentioning the market cap and you seem to be serious at that, it pretty much means that don't have a clue what's going on (no offense intended). Ethereum market cap has risen simply because most tokens are now frozen for the coming ICO's (you can see them in numerous signatures across the forum), so only a small fraction of coins gets traded, which allows to boost the price via market manipulation and then claim insane market cap. But when these ICO's start failing and falling (which is almost a certain), all these locked coins will be sold driving the price to where it belongs, i.e. at the floor level. And that may well happen even before August 1st

[Supercrypt]

Anyone who ignores alts as inferior is very shortsighted, and has missed a ton of profits. Likewise it would be silly to ignore bitcoin, though the faster they make changes to decrease fees and make it more scalable the better. None of these are good as currencies, except tether, because they are too volatile. I see them more as small cap stocks or commodities.. fixed supply with varying demand.   

There is something that many of the people on the forum forget while they make a comment regarding the cryptocurrency. The cryptocurrency is no doubt one of the most risky investment and when it comes to profit while commenting about profit we just measure the profit and not the rest of the growth. Once the alts may have been profitable for someone and too in short run in long term it is bitcoin which provides you the highest and the safest profit.

[Ewinsane]

it is funny how all these news sites are publishing articles talking about potential AFTER the rise happened! talk about a poor article eh!

it is the same with bitcoin, price rises from $1000 to $1250 they all start praising it (8btc included) and quote people we have never heard of telling us how awesome bitcoin investment is and how it is heard to $5000, or $50,000!

and when price comes down from the ATH of $2900 to $2500 the same sites start quoting some other people we have never heard of who are saying how bitcoin is garbage, how it was a bubble and how it is headed to $500, $200 etc

This is something common in the business world. There is nothing new in it. People always do like this not only in the cryptocurrency but to almost everything which have a margin of profit.
The comparison sometimes is also not trustable as you have mentioned that how could a $200 hundred currency be heading a $2000 currency?