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Author Topic: Effect of Bitcoin on New Tokens  (Read 227 times)
TAGGofficial (OP)
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February 27, 2020, 03:17:00 AM
Merited by Kaliecious (1)
 #1

hello everyone

The development of a more advanced era, more and more new tokens popping up with various platforms such as Ethereum, EOS, Tron, NEO and others whose prices are not stable, with the emergence of new tokens does that affect Bitcoin? or vice versa Bitcoin which affects the price of new tokens?

Maybe here there are more knowledgeable about this so that it can make me and other newbie's learn bitcoin deeper.
Thank you  Wink
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February 27, 2020, 04:38:00 AM
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The development of a more advanced era, more and more new tokens
i honestly don't see any thing "advanced" about tokens!

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with the emergence of new tokens does that affect Bitcoin? or vice versa Bitcoin which affects the price of new tokens?
neither.
the way i see it, tokens are the easy way of creating a useless garbage compared to what people have been doing before these platforms were created. before they had to create a full blockchain that could take more time even when they simply copied another project without changing anything and the cost of keeping it alive was higher since they had to run nodes for it and mine it themselves. but now with tokens they can create the same garbage with minimal costs without needing any of the things they previously needed.
the result however is the same pump and dump garbage that stay around for a while before disappearing and joining the altcoin graveyard that currently contains about 100k dead coins.

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February 27, 2020, 07:56:11 AM
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Bitcoin's effect to new tokens: since most if not all tokens are mostly traded against BTC, then when BTC rise in USD price, these tokens also rise in price in USD.

Effect of new tokens to Bitcoin: As we all know, pretty much 99% of other coins and tokens are either really really bad projects, or down-right scams. As more projects die out, it just sort of gives more legitimacy to bitcoin and it will slowly but surely show to the altcoin investors a.k.a. gamblers that only bitcoin matters.

In my opinion.

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February 27, 2020, 08:21:11 AM
 #4

yes you are both right, I also observed a number of new tokens that appeared on the market whose prices were far from the initial price they sold (ICO / IEO) even projects that raised funds around 50 million USD the price went up for a moment (flash pump) after that fell to the bottom
thanks for the explanation  Smiley
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February 27, 2020, 01:52:26 PM
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a number of new tokens that appeared on the market whose prices were far from the initial price they sold (ICO / IEO) even projects that raised funds around 50 million USD the price went up for a moment (flash pump) after that fell to the bottom

Price is an indicator, but it needs to be considered alongside volume, particularly for new coins. This is why marketcap can be so misleading.

Scenario:
There is a new coin that raises $10m at ICO, and there are 10m coins in circulation.
There is zero trading volume on the coin.
I buy 1 coin for $10.
The coin instantly has a marketcap (latest trading price*number of coins) of $10*10m coins =$100m

... which is absurd, and clearly misleading. There's no way their project has suddenly become worth x10 what it was a moment ago, purely on the basis of one person putting $10 into it.

If you see huge price volatility, it can mean that a large number of people are buying up large quantities of the coin, but equally it can mean that one person has made one small order. Always always look at volume.






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February 28, 2020, 04:12:14 AM
 #6

a number of new tokens that appeared on the market whose prices were far from the initial price they sold (ICO / IEO) even projects that raised funds around 50 million USD the price went up for a moment (flash pump) after that fell to the bottom

Price is an indicator, but it needs to be considered alongside volume, particularly for new coins. This is why marketcap can be so misleading.

Scenario:
There is a new coin that raises $10m at ICO, and there are 10m coins in circulation.
There is zero trading volume on the coin.
I buy 1 coin for $10.
The coin instantly has a marketcap (latest trading price*number of coins) of $10*10m coins =$100m

... which is absurd, and clearly misleading. There's no way their project has suddenly become worth x10 what it was a moment ago, purely on the basis of one person putting $10 into it.

If you see huge price volatility, it can mean that a large number of people are buying up large quantities of the coin, but equally it can mean that one person has made one small order. Always always look at volume.

yes I also see things like you said, someone or maybe the developers themselves are buying coins at high prices but when looking at the orderbook the price is far below the indicator price
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March 01, 2020, 06:57:43 AM
 #7

hello everyone

The development of a more advanced era, more and more new tokens popping up with various platforms such as Ethereum, EOS, Tron, NEO and others whose prices are not stable, with the emergence of new tokens does that affect Bitcoin? or vice versa Bitcoin which affects the price of new tokens?

Maybe here there are more knowledgeable about this so that it can make me and other newbie's learn bitcoin deeper.
Thank you  Wink

The main idea is that because Bitcoin was the highest and even the center of the cryptocurrency market as most cryptos and altcoins and even projects are circulating and using the bitcoin in most of their possible exchange. Therefore, their price in constant exchange affect from time to time depending on the market of both Bitcoin and any other cryptocurrency and tokens.

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March 01, 2020, 05:49:16 PM
 #8

Bitcoin is a key player in the Cryptospace which means other Cryptocurrencies are either directly or indirectly related to bitcoin therefore the price of bitcoin will rather influence other Cryptocurrencies and not vise-versa.

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March 02, 2020, 07:07:19 AM
 #9

hello everyone

The development of a more advanced era, more and more new tokens popping up with various platforms such as Ethereum, EOS, Tron, NEO and others whose prices are not stable, with the emergence of new tokens does that affect Bitcoin? or vice versa Bitcoin which affects the price of new tokens?

Maybe here there are more knowledgeable about this so that it can make me and other newbie's learn bitcoin deeper.
Thank you  Wink

There are so many new tokens coming up now and already in the past, but so far it has not harm the price or adoption of Bitcoin, each token price performance still depends on the platform and how the market reacts on the project, if the project is good then it will stand on it's own, and will not depend on the price of other coin like Bitcoin.

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March 04, 2020, 03:15:36 PM
 #10

I also observed a number of new tokens that appeared on the market whose prices were far from the initial price they sold (ICO / IEO) even projects that raised funds around 50 million USD the price went up for a moment (flash pump) after that fell to the bottom
thanks for the explanation  Smiley
The thing is, even though their lots of altcoins that have raised funds, they can never influenced btc's price. Yeah the vice versa always happened when you observed it. Btc is always the one pulling alts on their deep downfall when btc is pumping. But I never see some alts pump and drag btc's price.

Bitcoin is a key player in the Cryptospace which means other Cryptocurrencies are either directly or indirectly related to bitcoin
In terms of market price only btc helping altcoins to survive in my opinion but those new ones are clearly will not benefited from it cause investors learned already that token from some random ICOs and IEOs wouldnt make it for a long time.
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March 04, 2020, 05:43:28 PM
 #11

sometimes there is an indirect effect but that would only be for a short amount of time.
it happens whenever bitcoin has been rising for a long time and it starts constantly being in the media. like during 2017. the effect is that whenever bitcoin is hyped up like this and is being advertised everywhere a lot of "newbies" come in which are going to be scammed by the new tokens so these shitcoins rise during those times.

There is a FOMO brewing...
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March 07, 2020, 07:54:16 AM
 #12

hello everyone

The development of a more advanced era, more and more new tokens popping up with various platforms such as Ethereum, EOS, Tron, NEO and others whose prices are not stable, with the emergence of new tokens does that affect Bitcoin? or vice versa Bitcoin which affects the price of new tokens?

Maybe here there are more knowledgeable about this so that it can make me and other newbie's learn bitcoin deeper.
Thank you  Wink

Many new coins and tokens are being launch now in the past we have seen hundreds of new coins in just a month, but where are the majority of this coins/tokens now, they never made an impact like what Bitcoin has done and with Bitcoin's dominance in the market, it's hard for this new coin to make an impact in the market.

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