Tone Vays has won me over: There is Bitcoin...and shitcoins.

[gentlemand]

the one consistent thing about both 2013 and 2017 was the altcoin blow-off top in the last couple weeks of the bubble. if nothing else, i'm confident that will play out again. it's a natural late stage phenomenon where new "missed the boat" money starts chasing "the next bitcoin". as long as new money keeps coming into bitcoin, we'll see silly greed like this.

Indeed.

It's the buildup I'm interested in - which coins will gain traction, what hook people will attempt to hang it on.

There are no ICOs this time around. Will 'cheaper' be enough? It probably will but everything's looking rather more ragged and transparently empty than last time around. There was plenty of material to delude yourself back in the day. Not so much any more.

[figmentofmyass]

the one consistent thing about both 2013 and 2017 was the altcoin blow-off top in the last couple weeks of the bubble. if nothing else, i'm confident that will play out again. it's a natural late stage phenomenon where new "missed the boat" money starts chasing "the next bitcoin". as long as new money keeps coming into bitcoin, we'll see silly greed like this.

Indeed.

It's the buildup I'm interested in - which coins will gain traction, what hook people will attempt to hang it on.

There are no ICOs this time around. Will 'cheaper' be enough? It probably will but everything's looking rather more ragged and transparently empty than last time around. There was plenty of material to delude yourself back in the day. Not so much any more.

with token markets becoming highly restricted and IEOs requiring full KYC, i'm thinking a resurgence of traditional POW and hybrid POW coins might be in order. altcoin bubbles are a retail investor affair.....retail investors love their shitcoin exchanges and lack of KYC. the strongest charts i can find are old, established coins like DASH and XMR. and i'm particularly looking at markets that are still open to american investors.

[eaLiTy]

Perhaps it’s the absolute slaughter of altcoins. But I feel like we were all blinded in 2017. I have 20,000 Cardano, and all I see it do is lose Satoshi value. I feel like I’ve had enough!!
I’m 85% bitcoin. I’m about to make that 100%. Everyone loves Cardano...really? Why! It’s just another shitcoin. They are all shitcoins!!

The slaughter in the altcoin market was expected as i have seen many projects going to dust even though they started with big promises and big teams and hence when the market rallied i sold off 80% of all my altcoins and i still consider myself lucky to make those decisions as all the assets i invested during that time came down drastically and many projects will never recover simply because of regulatory issues, it is a sad reality and if you sold the coins at the right time then you could probably made some profit. I am pro bitcoin from the beginning and the alt coin market was a quick rich scheme and the smart thing is to get out at the right moment. I consider dogecoin to be better than 99% of the coins in the altcoin market and i am sure everyone shares the same opinion.

[slaman29]

Perhaps it’s the absolute slaughter of altcoins. But I feel like we were all blinded in 2017. I have 20,000 Cardano, and all I see it do is lose Satoshi value. I feel like I’ve had enough!!

I mean seriously. What is Cardano? It does nothing. Nobody uses it. It’s one of about a dozen protocols that will probably never be used and never be wanted.

I’m 85% bitcoin. I’m about to make that 100%. Everyone loves Cardano...really? Why! It’s just another shitcoin. They are all shitcoins!!

To be fair, there are a few altcoins that genuinely look like they want to do something different, and to be fair, some of their ideas are pretty good too. But if we're all being objective, none of these things are amazing. After Bitcoin's introduction, no matter how simple it seems, everything else just seems so... small. No matter the super tech, if no one uses it like you says, what's the point?

[buwaytress]

Don't know Tone Vays, know the name, not his game but I think any serious person in crypto only really uses Bitcoin. I admit, I've got my fair share of altcoins... 10% of my total crypto portfolio isn't a small minority at all, and I do like the ones I hold for specific reasons (Monero is a clear-cut case, for example). But at the end of the day, when I'm using a coin, when I'm convincing someone else to accept payments in crypto... we're really only ever talking about Bitcoin.

That's not opinion... that's fact.

[oxgroth]

You described the situation with almost every alts. Just a projects without real use

[Khaos77]

You described the situation with almost every alts. Just a projects without real use

That sort of nonsense gets repeated alot around here.

So let's clear it up.

Bitcoin
Payment to anyone that accepts bitcoin
Hold it to exchange for Fiat at a later date

Altcoins
Payment to anyone that accepts that Altcoin
Hold it to exchange for Fiat at a later date

What is it that you think real use entails that an Alt is not also capable of doing?

Alts are still capable of micro-payments and much lower transaction fees,
while bitcoin needs LN offchain network to accomplish the same.

Things Bitcoin Can't Do,
1. Energy Efficiently , which many alts have always had.
2. Onchain Transaction Capacity exceeding 2 million transactions per day, many alts capacity exceed that now
3. low fixed transaction fees, which can only be achieved by energy efficient Alts

[redsun114]

I have always told everyone that I don’t see any point in creating altcoins for different projects and then all I hear is that they have different innovations and usage. Like you said, the innovation is to be used by who, by which country and how? Even if we have some people accepting these innovations, they can only get few of them, and these projects are just so too much in the market.

Value of a project only increases when people put money into the market, and what is that usually attract people to put money, it is either they put in money for investment purpose, or they put in money for Utility purpose. In 2017, it was just the cryptocurrency hype that generally made these coins witnessed such growth and not the utility really, for utility, I must tell you that Bitcoin and Ethereum is just more than enough.

[Leonardo7]

I love Tone Vays. He is a strong apostle of bitcoin. Although he believes altcoins are shit. When he attacked Tpay, till date, Tpay has never been able to recover from the loss, was happy I sold off before the worst happened.