I thought confidence in altcoins went up with bitcoin going up.
Altcoin collapse has nothing to do with btc. But everything to do multipool. Before, you got 1000 miners mining a coin, and they keep the most in their own wallet. Now, there is a super miner who miner most coins, but it sells everything it mined for bitcoin instantly. Where is the bidder for all new coins?
Here is proof why it is multipool's work. B4, in coinwarz, we see different profitability for diff coins. Now, the profitability evens out across the board, no matter shitcoin or potential coin, same profitability.
RE: "Altcoin collapse has nothing to do with btc."
WRONG. FLAT OUT WRONG when huge bitcoin price spikes suddenly occur. Only during modest bitcoin price increases do the alt. coins not get seriously adversely effected, if any at all.
Sure Autodumping Multipools severely effect shorter term pricing in various alts. But they don't tend to severely crush them, just cause severe swings in the nearer term. And maybe severely impact a few weaker ones.
I don't support nor mine at any Multipool that Automatically Sells for miners at often terrible prices and with terrible fees to boot. It's foolish to do that. Multipools are okay, but not the ones that dump for too cheap far too often and then tag every miner for a few percent so their bot can automatically dump those coins.
Mining for short term peanuts results in peanuts, that is exactly the wrong way to mine!
While likely mining the junk instead of the treasures (Masterpieces) which then can be sold whenever later on to grab Bitcoin or whatever as desired which will increase profits greatly if one chooses wisely and is very patient and stands pat during adverse events.
Aim for 10 times those initial prices after being mined many months later, and by then hopefully their worth at least several times more than they were when first mined, some even returned over 100 times their initial prices in some cases for myself, heck a few maybe 1000 times, I never checked but a few gave enormous gains in 2013. Of course that was then, this is now, no can know what happens next. But compare that AutoSelling at a Multipool to being far too short sited much like a Corporate Executive. And mining blind. Not even knowing what's being mined or if your being fleeced. Wrong play.
But this is my favorite Non-Autoselling
https://www.multipool.us/ and for 2013 it was my favorite pool for a few coins I mined OFF the multipool since I wanted no part of some of those coins at all on their multipool so I stayed on the coins dedicated pool instead there.
Their a great pool, with a secure https connection so your password doesn't travel in plain text, but instead encrypted. And https is far harder to hack so keep that in mind too.
Back to Why That other Statement was so WRONG:
Your missing something huge. When Bitcoin surges strongly suddenly it's twice as valuable, hence it only requires half as much Bitcoin to equal the same exact amount of any given alt. coin. And why Bitcoins price directly inversely correlates to alt. coin prices if and when Bitcoin suddenly explodes upwards.
Traders and others tend to flock towards every strong bitcoin rally, and many dump alt. coins to do so. So add that to the arbitrage equation I just spelled out too.
Caveat emptor - let the buyer beware
