BCSHonda
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August 17, 2018, 09:02:24 PM |
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The sad reality of this is that many of these so called useless altcoins will be worth zero satoshis if there is ever any attempt to liquidate back into bitcoin! Coins that are no longer desirable are soon removed. And things that do not have any applications for life need replacing. As long as it exists, it is only costly to maintain. Influence the whole market.
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strongwarrior238
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August 17, 2018, 09:07:55 PM |
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Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.htmlThe Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst. <I hate using the word Bubble, but in this scenario, it best explains what is happening> ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt. Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst? What do you think? I think that the recovery period is over from 2017, you can see that 2018 is a year of continuous decline in bitcoin prices, the market is gradually in crisis as bitcoin and altcoin prices are constantly falling. . Therefore, I believe that this time you should only short-term investment and trading on bitcoin in order to minimize risk.
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weeks65
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August 17, 2018, 10:37:17 PM |
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Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.htmlThe Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst. <I hate using the word Bubble, but in this scenario, it best explains what is happening> ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt. Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst? What do you think? I believe that bitcoin is the bubble and the bitcoin bubble is breaking, you can see that the market is continuously going down dramatically in the past few days, bitcoin and altcoin prices are constantly falling, so to have To minimize the risk you should only invest in short-term bitcoin at this time. Bitcoin prices will continue to decrease at any time so you need to keep an eye on the market.
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hatshepsut93
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August 17, 2018, 10:50:30 PM |
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It wasn't a burst yet, merely a taste of it. When there will be a real burst, altcoins will be going to literally zero, and only some top coins will retain some small portion of their value. But this might happen without Bitcoin being in bear phase, it can very possibly happen while Bitcoin will have a bull run, and altcoin bagholders will be abandoning their shitcoins as they will realize that Bitcoin is the coin that works and alts are just vaporware. Also, a good indicator for the state of this alt/token bubble is how accepted the narrative of "blockchain tech" is outside of the crypto sphere. You can see that the skepticism starts growing as many tech experts are voicing their doubts.
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cellard
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August 17, 2018, 11:10:57 PM Last edit: August 17, 2018, 11:22:24 PM by cellard Merited by Kakmakr (1), gentlemand (1) |
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It wasn't a burst yet, merely a taste of it. When there will be a real burst, altcoins will be going to literally zero, and only some top coins will retain some small portion of their value. But this might happen without Bitcoin being in bear phase, it can very possibly happen while Bitcoin will have a bull run, and altcoin bagholders will be abandoning their shitcoins as they will realize that Bitcoin is the coin that works and alts are just vaporware. Also, a good indicator for the state of this alt/token bubble is how accepted the narrative of "blockchain tech" is outside of the crypto sphere. You can see that the skepticism starts growing as many tech experts are voicing their doubts.
There are only 2 possibilitites that I see now: 1) We have already had our "dotcom". Now, most investors are aware that most altcoins are useless crap in which people used to put money hoping to get their BTC x1000 in the next pump of the hour. All these big gains on altcoins are gone and it's better to stay 100% on BTC as we go to 6 figures against USD in the next halving. 2) We only had a small taste of what's to come. Trillions will come in to create a mega altcoin bubble with a very strong Bitcoin as well (probably when BTC is somewhere around $100,000 to 300,000). Considering that dotcom bubble peaked at 6.7 trillion USD, we couldn't have seen anything yet. Then after that, all altcoins die, BTC is crashes to like $10,000-40,000 or so, and then here we go again "Bitcoin is dead" etc.. for a couple of years, then Bitcoin comes back dwarfing all previous peaks and goes to $1,000,000+ See: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fcdn.pbrd.co%2Fimages%2FHzEJ0rP.png&t=665&c=7FrP3EvztCKihg) Im more inclined towards the second scenario. Mainly because I believe most people were still clueless about BTC + alts, so there will be massive investors in the forms of $trillions which will have to go from that "im going to invest in this alt which will x1000" phase to acceptance "most alts are nonsense and BTC reigns supreme" acceptance phase.
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gentlemand
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August 18, 2018, 12:16:25 AM |
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There are only 2 possibilitites that I see now:
For the second one to arrive though enough alts would have to maintain enough illusion of future utility and value. Despite everything they're all still useless. ETH is the only one being used in any numbers and its only use has been to create more useless alts. There'll have to be some very impressive conjuring tricks, or some actual results, to fool enough people again. There's probably 2-3 years before another monster bubble which leaves a lot more time for scepticism to marinate. I know when dollars are in the air all sense goes out the window, but there'll have to be some type of new hook to get alts flying. The top alts at the top of this bubble were even more of a joke than the handful that were around in 2013. People will look back on 2017 and wonder what the hell they were thinking.
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Ch1bi
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August 18, 2018, 02:03:01 AM |
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Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.htmlThe Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst. <I hate using the word Bubble, but in this scenario, it best explains what is happening> ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt. Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst? What do you think? I think coins that provide no value will go the way as those companies in the dot com bubble. The market is recovering slightly and we're seeing that in the price of Bitcoin and the alts as well. However it'll take some time for the alts to regain their value, if at all. I think the market is more rational as far as people having realistic expectations that crypto isn't a get rich quick scheme.
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chris200x9
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August 18, 2018, 02:23:02 AM |
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2) We only had a small taste of what's to come. Trillions will come in to create a mega altcoin bubble with a very strong Bitcoin as well (probably when BTC is somewhere around $100,000 to 300,000). Considering that dotcom bubble peaked at 6.7 trillion USD, we couldn't have seen anything yet. Then after that, all altcoins die, BTC is crashes to like $10,000-40,000 or so, and then here we go again "Bitcoin is dead" etc.. for a couple of years, then Bitcoin comes back dwarfing all previous peaks and goes to $1,000,000+
This is what has happened in the past but there is no guaranty that will again happen in the future. After big crash bitcoin took its won time to recover back and reach all-time high and this process is going on for last few years. I'm also expecting that to happen (your first target reach in next bull run) so that I can make some decent profit.
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andika2018
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August 18, 2018, 06:13:51 AM |
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Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.htmlThe Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst. <I hate using the word Bubble, but in this scenario, it best explains what is happening> ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt. Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst? What do you think? I think its hard to compare between dotcom buble with cryptocurrency market condition right now. Maybe its true many altcoin dont have good project but its not all altcoin because many altcoin having good project and having working product. I am agree that altcoin without good product will be death but altcoin have potential become good investment in the future
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davis196
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August 18, 2018, 06:19:49 AM |
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Well,most of the altcoin devs look exactly like the small online business owners back in the late 90s. They have the "build it and the money will come" type of mentality.This is not a proper business plan,most of the altcoins are useless (unless they are used for pump/dump)and they are ready to fail. Bitcoin is in a "in the middle of nowhere" phase.Not a recovery phase for sure. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Kakmakr (OP)
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August 18, 2018, 07:07:18 AM |
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It wasn't a burst yet, merely a taste of it. When there will be a real burst, altcoins will be going to literally zero, and only some top coins will retain some small portion of their value. But this might happen without Bitcoin being in bear phase, it can very possibly happen while Bitcoin will have a bull run, and altcoin bagholders will be abandoning their shitcoins as they will realize that Bitcoin is the coin that works and alts are just vaporware. Also, a good indicator for the state of this alt/token bubble is how accepted the narrative of "blockchain tech" is outside of the crypto sphere. You can see that the skepticism starts growing as many tech experts are voicing their doubts.
There are only 2 possibilitites that I see now: 1) We have already had our "dotcom". Now, most investors are aware that most altcoins are useless crap in which people used to put money hoping to get their BTC x1000 in the next pump of the hour. All these big gains on altcoins are gone and it's better to stay 100% on BTC as we go to 6 figures against USD in the next halving. 2) We only had a small taste of what's to come. Trillions will come in to create a mega altcoin bubble with a very strong Bitcoin as well (probably when BTC is somewhere around $100,000 to 300,000). Considering that dotcom bubble peaked at 6.7 trillion USD, we couldn't have seen anything yet. Then after that, all altcoins die, BTC is crashes to like $10,000-40,000 or so, and then here we go again "Bitcoin is dead" etc.. for a couple of years, then Bitcoin comes back dwarfing all previous peaks and goes to $1,000,000+ ~~~~ Im more inclined towards the second scenario. Mainly because I believe most people were still clueless about BTC + alts, so there will be massive investors in the forms of $trillions which will have to go from that "im going to invest in this alt which will x1000" phase to acceptance "most alts are nonsense and BTC reigns supreme" acceptance phase. Your analysis makes a lot of sense now. We might be in the first phase of the realization that Alt coins are mostly "pump n dump" copy cat coins with little or no future, as you said. So, you get a bunch of people who wants to get a taste of the profits that early Bitcoin investors had, when it was in the early stages. This will never happen on the same scale as Bitcoin, because Bitcoin was a brand new concept at the time. <Most Alt coins are just adding some small changes and a different token to the original Bitcoin code> ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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Osayo
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August 18, 2018, 07:10:23 AM |
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Credit goes to source : https://www.c[Suspicious link removed]m/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.html The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst. <I hate using the word Bubble, but in this scenario, it best explains what is happening> ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt. Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst? What do you think? Bitcoin revolution may be similar to dotcom. But I don't think Bitcoin will burst.
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hatshepsut93
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August 18, 2018, 11:56:37 AM |
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There are only 2 possibilitites that I see now:
1) We have already had our "dotcom". Now, most investors are aware that most altcoins are useless crap in which people used to put money hoping to get their BTC x1000 in the next pump of the hour. All these big gains on altcoins are gone and it's better to stay 100% on BTC as we go to 6 figures against USD in the next halving.
2) We only had a small taste of what's to come. Trillions will come in to create a mega altcoin bubble with a very strong Bitcoin as well (probably when BTC is somewhere around $100,000 to 300,000). Considering that dotcom bubble peaked at 6.7 trillion USD, we couldn't have seen anything yet. Then after that, all altcoins die, BTC is crashes to like $10,000-40,000 or so, and then here we go again "Bitcoin is dead" etc.. for a couple of years, then Bitcoin comes back dwarfing all previous peaks and goes to $1,000,000+
These 2 scenarios are among the most likely ones, but I think there are countless ways how this market can play out, alts can stagnate and die slowly during a long period of time; there can be partial burst when coins below top 20 will crash but top tier alts will survive for some time only to die later; we can see only a smaller bubble instead of a trillion mega-bubble from scenario 2); some alts can try to evolve into centralized companies, and so on, you can imagine many possibilities like that. Just because the fundamentals of altcoins and dotcom are similar, it doesn't mean that the charts will be similar, it's all the result of mass psychology which is very chaotic.
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cellard
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August 18, 2018, 02:48:59 PM |
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There are only 2 possibilitites that I see now:
For the second one to arrive though enough alts would have to maintain enough illusion of future utility and value. Despite everything they're all still useless. ETH is the only one being used in any numbers and its only use has been to create more useless alts. There'll have to be some very impressive conjuring tricks, or some actual results, to fool enough people again. There's probably 2-3 years before another monster bubble which leaves a lot more time for scepticism to marinate. I know when dollars are in the air all sense goes out the window, but there'll have to be some type of new hook to get alts flying. The top alts at the top of this bubble were even more of a joke than the handful that were around in 2013. People will look back on 2017 and wonder what the hell they were thinking. Well for the new investors that come during the next bubble, they will not really think about that imo, they will just jump on whatever latest ICO of the our or whatnot. I know governments have clamped down on ICOs and now it's harder for scammers to get their scams going, but nonetheless they will find ways to host them overseas and since this is a global market the millions will come. New investors, they always look at Bitcoin and think, "oh it's too late", then they look at a couple alts, they find them too developed to get the x1000, so they will search for whatever brand new promise, that's where the most dangerous bubbles happen.
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BitcoinTurk
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August 18, 2018, 03:01:33 PM |
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I think Bitcoin is not such an accent project and I defend this idea to the end. And if this was the case, this balloon would blow up the year we passed, and it would not even happen again on the day. Moreover, such a thing would not be used for other altcoin projects, and this technology could not begin to be seen in all areas of our lives. The timely .com trades were also a swollen project with the intense demand and never been hit. Only in the world of the internet was the demand for something new, and demand was increasingly swelling in demand. But I do not think such a thing will happen in Bitcoin because it has become a different sector with the spread of many different types of cryptocurrencies, and it has a significant share in the market. For that reason, I re-emphasize that this project is not a balloon project, and I do not recommend mixing it with other .com accents.
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BrewMaster
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August 18, 2018, 03:02:57 PM |
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no to everything you said ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) first of all bitcoin is not recovering from a DotCom bubble phase because it was not a DotCom-like bubble to recover from and it doesn't matter that price has fallen this much, it has fallen a lot lower than the intrinsic value of bitcoin which doesn't prove anything. as for altcoins they won't just die. if they could just die because of some pump and dump then they would have died a hundred times already because this is not the first pump and dump they are experiencing. what will happen is that they will continue to get dumped, some of the smaller weaker coins will die and the rest will just restart the same pump and dump again. and we will see newer big pumping coins this time instead.
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There is a FOMO brewing...
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cellard
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August 18, 2018, 04:06:05 PM |
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no to everything you said ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) first of all bitcoin is not recovering from a DotCom bubble phase because it was not a DotCom-like bubble to recover from and it doesn't matter that price has fallen this much, it has fallen a lot lower than the intrinsic value of bitcoin which doesn't prove anything. as for altcoins they won't just die. if they could just die because of some pump and dump then they would have died a hundred times already because this is not the first pump and dump they are experiencing. what will happen is that they will continue to get dumped, some of the smaller weaker coins will die and the rest will just restart the same pump and dump again. and we will see newer big pumping coins this time instead. Saying that "altcoins just won't die"... I don't agree. Calling the death of an asset is perhaps a bit subjective. I mean, does it really need to hit literally "0"? Personally I don't think so. If the asset has crashed and fails to ever recover and has terrible fundamentals, even if it's traded and has some small volume... it's for all intended purposes a dead asset. For instance, Bitconnect was being traded with small volume last time I check. And there's endless coins out there, which are being traded in marginal volumes.. these are all dead. So something doesn't need to hit 0, you can be holding something that's basically dead even if it has some action.
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pobeditelvezde
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August 18, 2018, 07:45:00 PM |
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I think the theme about a bubble was sensible for any discussions a year ago when bitcoin was 20000$. Of course, we can discuss your assumption but you need to show us any arguments which can prove your assumption. Bitcoin and other coins are not on highs so where is a bubble or you consider that bitcoin is still very overvalued and it has to cost much less 100$? I think it is a wrong assumption because as we can see the falling has been suspended and it is possible that it will be formed a new uptrend soon.
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mikyadel
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August 18, 2018, 08:04:12 PM |
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people have been keeping saying that bitcoin is a bubble for years , it's becoming a click-bait news . people don't even know what a bubble means , if bitcoin was a bubble and it has burst out then we should see sharp and continuous drop in price till zero. what we see now is filtering the market from weak-handed who think that market will be always in bullish trend and once that phase go , we will see new wave of rising in new highs.
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xitrum
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August 18, 2018, 09:50:46 PM |
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Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.htmlThe Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst. <I hate using the word Bubble, but in this scenario, it best explains what is happening> ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt. Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst? What do you think? I believe that bitcoin prices are in a bear market in the long run and it will take a long time for the bitcoin market to rebound, you can see that the market is fluctuating continuously and bitcoin prices are down in the down cycle. long-term, according to the analysis of bitcoin prices may be reduced to the $ 2000 mark by the end of 2018.
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