The End of Alt Coins

[Snail2]

Wait till governments take Bitcoin seriously and start regulate it. This will be a great opportunity for new altcoins designed specially to fit or get around those regulations.

I've never really brought into that idea much. Regulation will be an umbrella covering all crypto-currencies.

I wouldn't bet on that for a second.  It could be an umbrella, or it could be specific.  It could even mention bitcoin by name

Being specific would open up a lot of back doors, so I guess a generic umbrella style regulation would be easier to implement and maintain.

[coolbeans94]

Peercoin's price is skyrocketing, imo will replace btc within 5 years. PPC just had a correction that's why it just went down, it is still up 40%+ since last month.

.This is not the endtimes for alt coins? This is just the beginning. BTC has limitations, altcoins will solve these problems in their own specific ways.

[Oldminer]

I am sad to say that we are now entering the endtimes for alt coins. Nobody wanted alt coins to succeed more than me, but it has now become clear that they are nothing more than a failed experiment. Alt coins are crashing across the board, everything from litecoin (down 7.92%), namecoin (down 17.2%), peepeecoin (down 12.83%), novascamcoin (down 4.17%), feathercoin (down 10.79%), primecoin (down 25.31%), and terracoin (down 24.32%). These figures are REAL figures pulled from coinmarketcap.com.

This post is a public service announcement designed to help those of you still clutching your worthless alt coins to sell them for bitcoin ASAP and save yourself a lot of heartache. Just get rid of them, close this useless altcoin subsection, and go buy some BFL asics if you really want to mine something.

Lies!

They said the same thing about Bitcoin when it dropped from $33 to $3..lol

[aceking]

alt-coins are worthless because they don't have new groundbreaking features.

[balanghai]

End means the end. We'll see.

If people are still hashing for the coin, trading for it, it definitely still not the end of it.

[viboracecata]

Too early to say those words, besides, bitcoin is far far away from its succeed.

[braytz]

They said the same thing about Bitcoin when it dropped from $33 to $3..lol

this.

[cryptohunter]

Many altcoins have held firm over the last couple of days. Some have risen against btc in real terms too.

People are cashing in on a bull run for bitcoin and cashing out their alts, it was a good move but soon that will swing the other way imho. A few of the least popular alts have crashed in a huge way because you would dump them first from your portfolio, and LTC suffered badly because most people hold their alt worth in LTC so that was going to take a beating as people moved into the bitcoin up swing.

I'm looking hopefully for a big upswing for the alts as the bitcoin bull slows and comes to it's next wave down.

[Leehoya]

Bitcoin value is rising and alt currency value is decreasing, maybe the price would increase again.

[Johnny Bitcoinseed]

Wait till governments take Bitcoin seriously and start regulate it. This will be a great opportunity for new altcoins designed specially to fit or get around those regulations.

When government attempts to regulate bitcoin, that will be the time to buy.  The attempt will do exactly the opposite of what they want.

When .gov bans or over regulates something, its value skyrockets on the open Free market.  Look at Alcohol during prohibition in the USA.  Drugs right now.  That is the beauty of TRUE Freedom - it cannot be quashed permanently.

[Carra23]

Its the bottom of the crash mentality now. If you can take the risk and buy altcoins now you can reap huge rewards on the rebound.

[Buffer Overflow]

Its the bottom of the crash mentality now. If you can take the risk and buy altcoins now you can reap huge rewards on the rebound.

There's a name for that, it's called "catching a falling knife", it's a very dangerous thing to do.

[Carra23]

Its the bottom of the crash mentality now. If you can take the risk and buy altcoins now you can reap huge rewards on the rebound.

There's a name for that, it's called "catching a falling knife", it's a very dangerous thing to do.

It is very dangerous, but its a high risk high reward scenario.

[Lethn]

The coins are crashing because people are taking profit, some of these holders will be like me and will have bought just as the coins came onto the exchange when they were barely worth anything so if they bought a substantial amount they'll be cashing out now in BTC. If you remember Bitcoin went through huge swings like this as well, we don't have central banks, so you won't have them pumping money into these currencies in order to keep them at a stable price, I hardly have any myself so I'm going to be holding long term and biding my time.

What I will say though is that the coins that will succeed will most likely be the ones that have proper dev support behind them who understand the source code and update the client regularly and try to move forward. Copy and paste jobs that only have marketing teams behind them won't last. People ranted about how Bitcoins were worthless etc. but then they're now worth more than $100 per coin! I'm not saying that altcoins will reach that level but our financial systems are so bad they may well be worth more than paper money easily and that's enough for me.

I know there are people who hate on Litecoin a lot but I'm amazed that the thing is worth $1.8 or so by itself and can be trading directly for USD now, it will be interesting to see what all happens to all these coins.

[hulk]

Sad seeing them dropping like this. Soon I have to shut down my GPU farms...

[Twist177]

Wait till governments take Bitcoin seriously and start regulate it. This will be a great opportunity for new altcoins designed specially to fit or get around those regulations.

Or more likely, they will create their own coin, premine all of the coins, and regulate those.

[wiggi]

there are always some people who hold things all the way to the bottom in complete and utter denial.

Even coins in downtrend must have an owner. What if there where no people in denial, would it drop instantly
to the bottom, i.e. the price level from where it could recover?

[DeathAndTaxes]

So whenever it looks like alts are crashing, just look at the BTC value and you'll see it's rising.  Just enough so that the ALT/Fiat value remains somewhat constant.

>60% decline is "somewhat constant"

http://www.ltc-charts.com/period-charts.php?period=6-months&resolution=day&pair=ltc-usd&market=btc-e

[Barnacle_Ed]

Oh look, another "ERMAHGERD ELTKERN ERMAHGEDDERN" thread. Not like we've had dozens in the past.


If you really believe the well-established alts are dying, feel free to keep selling me your coins. I'll be laughing all the way to the bank in a few months

[Tomatocage]

I predict the complete end of all alt-coins to happen in 4-6 weeks