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Author Topic: Why are the vast majority of alt coins tanking right now?  (Read 771 times)
testigodehumanidad
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March 03, 2014, 04:36:23 AM
 #1

litecoin -7%, doge -10%, quark -29%, primecoin -10%, infinitecoin -16%, novacoin -16%, worldcoin -21%

Bitcoin is up 1.35%.

Plenty of other alts tanking, I just don't want to list them all.

Anyone know why?
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cubicdissection
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March 03, 2014, 04:50:10 AM
 #2

Terrible week for bitcoin and cryptocurrencies in general would be my guess.  Lots of movement in the BTC market so perhaps investors are focusing on that market, resulting in less demand for alts and therefore lower prices.
orpington
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March 03, 2014, 05:28:00 AM
 #3

people that lost their BTC due to Gox are "liquidating" their altcoin holdings, thus "replacing" their BTC.  I know I would.
Lloydie
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March 03, 2014, 09:26:38 AM
 #4

Auroracoin has increased from nothing to second spot in terms of mineable coin marketcap within 36 hours, overtaking litecoin in the process.  People are dumping altcoins to get on board the auroracoin freight train.
TiberiuC
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March 03, 2014, 09:52:46 AM
 #5

-Not enough new money coming in. If bitcoin grows, altcoins grow more than bitcoin.If bitcoin drops,altcoins drop more than bitcoin.
-Too many altcoins. Community not big enough to support all of them.

So if bitcoin starts to grow the total marketcap of altcoins will grow but the average coin may still not grow.We need to kill some of them faster.
A lot of people will cry with this Aurora coin.I think the coin has a good plan but it's way way overvalued.
Watchy312
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March 03, 2014, 10:20:34 AM
 #6

Auroracoin has increased from nothing to second spot in terms of mineable coin marketcap within 36 hours, overtaking litecoin in the process.  People are dumping altcoins to get on board the auroracoin freight train.
+1
It is a real slaughter, almost all coins sinked very hard

I'm seriously disapointed by the PoW concept, people will just massively sell in a very short time and totally crash a coin just to get in the lastest bubble like AUR currently.
I'm beginning to think it is better to own a PoS coin where big holders won't dump their coins mindlessly like that bubble seeking crowd.
XbladeX
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March 03, 2014, 12:50:37 PM
 #7

Auroracoin has increased from nothing to second spot in terms of mineable coin marketcap within 36 hours, overtaking litecoin in the process.  People are dumping altcoins to get on board the auroracoin freight train.
+1
It is a real slaughter, almost all coins sinked very hard

I'm seriously disapointed by the PoW concept, people will just massively sell in a very short time and totally crash a coin just to get in the lastest bubble like AUR currently.
I'm beginning to think it is better to own a PoS coin where big holders won't dump their coins mindlessly like that bubble seeking crowd.
+1 All just becouse many of miners join only for makxymize $ income new script ASICs have to retun in short they are cashing out.
There are also mooltipools who use autosell they are killing most profitable coins and new ASIC farms those guys need fast return you see what is going on LTC price ?
Are you suprised ? Me not that was obvious  that ASICs will rape LTC price.
There is more sence only in POS coins like NXT,BC,Cash,Mint...
And you are free from dumping miners and raping multipools.
hope is also with low inflation coins like DOGE in few months it will be only 5% per year...
while LTC and others will stay above 10%+ year for a while.

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Varvarin
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March 03, 2014, 01:24:59 PM
 #8

The whole thing feels like a giant bear trap.

Dump down everything, then pump it back up = profit. BTC is recovering so folks will be dumping coins in order to hang onto BTC in expectation of its imminent rise.

Coin markets are a total mess, only thing being mined are the brand new coins which get dumped before the 1st confirmations are even in.

PoS coins are a solution, but without the high hashing power, folks just sell the interest cratering the price.

Seems the only way to profit is to join the zerg. Mine and sell as coins come in.

Coinmarket Cat prowls once again.
https://twitter.com/VarvarinEMC2
Nxtblg
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March 03, 2014, 01:41:47 PM
 #9

people that lost their BTC due to Gox are "liquidating" their altcoin holdings, thus "replacing" their BTC.  I know I would.

^^ This, in part. The other part is, people flee to the tried and true when trouble erupts. In the cyber world, the tried-and-true is good ol' Bitcoin.

If you believe in your altcoin, now's the time to get in at a discount. Even if you don't follow through, it's a perfect use case for the maxim "Be greedy when others are fearful and fearful when others are greedy."






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