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Author Topic: I think that all the alt coins are only created to get BTC and FIAT at the end  (Read 601 times)
TradeAnalyst
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February 16, 2014, 01:45:49 AM
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So many alt coins are created and I don't understand why Bitcoin forum is accepting them here in announcements and discussions.

If I decided to create an alt , my only thought would be to get as much BTC than I can from who ever person and then sell my BTC into  FIAT to buy whatever I want that I cannot pay in BTC
(and this is 99,99 % of all merchants in the world )

My thought ( could be wrong ) is each time an alt is created and then traded : you need BTC to buy it ( BTC which you have bought with FIAT ) then the creators and miners are selling them for BTC and immediately exchanging  them in FIAT which is obvious ...

So alt are really polluting the BTC ecosystem !!

So alt coins are not in the interest of BITCOIN ecosystem at all and if you think they are in the real interest of the bitcoin ecosytem explain me why.






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BitcoinBobbeh
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February 16, 2014, 03:14:13 AM
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So many alt coins are created and I don't understand why Bitcoin forum is accepting them here in announcements and discussions.

If I decided to create an alt , my only thought would be to get as much BTC than I can from who ever person and then sell my BTC into  FIAT to buy whatever I want that I cannot pay in BTC
(and this is 99,99 % of all merchants in the world )

My thought ( could be wrong ) is each time an alt is created and then traded : you need BTC to buy it ( BTC which you have bought with FIAT ) then the creators and miners are selling them for BTC and immediately exchanging  them in FIAT which is obvious ...

So alt are really polluting the BTC ecosystem !!

So alt coins are not in the interest of BITCOIN ecosystem at all and if you think they are in the real interest of the bitcoin ecosytem explain me why.


There are a couple good ones - made by good people who have a vested interest in Crypto. Some have made changes that are viewed as improvements upon Bitcoin.

Litecoin is more numerous, and faster.

Dogecoin is easily accessible.

I only like a couple because you are right about one thing: lots of crypocurrencies are dull, unimaginitive, pump-and-dump schemes. That doesn't mean altcoins are bad for us as a whole. It just weeds out the stupids...

By the end of next month at the latest we will have permanently left behind 3 digits. You can quote me on this.
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February 16, 2014, 02:12:50 PM
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Alt-coins give the market more depth I think, rather than just playing around with BTC, there are other coins to mine/play with.

Also ASICs killed nubs dreams of mining, which isn't the same with most alt-coins since they run on Scrypt.

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