Maybe alt-coins are actually good for Bitcoin?

[uMMcQxCWELNzkt]

I would like to propose that all alt-coins, even those that are pump and dump failures are good for Bitcoin. Many say that alt-coins just tarnish the image of Bitcoin, others say that alt-coins reduce the Bitcoin audience. Initially I thought these points were so, however these days I think differently. Alt-coins have many beneficial functions for the Bitcoin community, first of all, alt-coins simply place Bitcoin higher up on the cryptocurrecny pedestal. Bitcoin, at least in our community, has transformed into that classic luxury sports car model. Where-as alt-coins are rusty, many falling a part and are becoming increasingly perceived more as good get a away vehicles for bank runs by the "developers". There is also the idea that alt-coins takes the audience away, again I would now disagree. Alt-coins are temporary for the most part, many who hold them are thinking from a short term perspective, eventually that audience will find its way into Bitcoin or out out of cryto all together. It is my opinion that

My main proposition for this post is that, actually alt-coins are a safety net for Bitcoin. If Bitcoin does badly instead of dumping for FIAT many users will instead put money into an alt-coin. Although that is not the way I personally go about it, at least users will still be hanging around.  Eventually I suspect most will revisit Bitcoin when they feel they can make a quick buck but in the long term the audience is still in tack. Another positive is that alt-coins will enable users to get used to mining and exchanging with crypto, as a platform for beginners and those who might not have much money to invest in Bitcoin I feel alt-coins again filter long term value into the Bitcoin market.

I would also like to add that I have zero invested in other alt coins, I just thought alt-coins acting as a safety net was an interesting proposition. I realize there are negatives too of-course, however I don't see any that out way the points above. So do you agree, and if not why?

Note to mods: I hope this can remain in the Bitcoin section, this post is specifically orientated towards the Bitcoin community as we are talking about the effects and advantages for Bitcoin rather than the alt-coins.

[Snail2]

Agree. One more point: as BTC mining is no longer something you can do with your old spare PCs in the garage alt-coins are the cost effective entry points into the crypocurrency wold for many people.

[AliceWonder]

I have little interest in them but bottom line, let them succeed or fail on their own merit.

[Kuroth]

Just made $175 on my first month of mining alt-coins with my little GPU unit..  Not bad..  Will pay for my mining PC in about 5 months.. 

[uMMcQxCWELNzkt]

Just made $175 on my first month of mining alt-coins with my little GPU unit..  Not bad..  Will pay for my mining PC in about 5 months.. 

Or you could start up a Bitcoin company? 

[LorenzoMoney]

Actually, IMHO,
the ASICMiner USB Eruptor is the entry point for Bitcoin mining, not alt coins of various sorts.

Agree. One more point: as BTC mining is no longer something you can do with your old spare PCs in the garage alt-coins are the cost effective entry points into the crypocurrency wold for many people.

[Bytas]

Good for Cryptocoins: Yes.
Good for Bitcoin: Nope.

[Kuroth]

Actually, IMHO,
the ASICMiner USB Eruptor is the entry point for Bitcoin mining, not alt coins of various sorts.

Agree. One more point: as BTC mining is no longer something you can do with your old spare PCs in the garage alt-coins are the cost effective entry points into the crypocurrency wold for many people.

The USB Eruptos need to be about $40 each before they are worth it..  In 6 months they will be $5 each..

[calian]

In 6 months they will be $5 each..

That's how much I'd pay.

[Snail2]

Actually, IMHO,
the ASICMiner USB Eruptor is the entry point for Bitcoin mining, not alt coins of various sorts.

The ROI of an USB Eruptor isn't very good at the current prices.