Do you think the alt-coin crash is hurting bitcoin?

[Torque]

there is a good chance an alt will replace BTC.

Personally I think PPC,DOGE,LTC, XRP, EMUNIE, NEM and maybe NXT and XPM


are all long term hodl material.

PeerCoin in particular has had no competion in the backbone store of value arena from any alt.....it really stands out.

Download the peercoin blockchain you will see what I mean....really quick.

It would be really, really great if the altcoin pumpers would explain what makes their favored alts of the day so great. You know, instead of just saying that they are.

This.  Especially when Bitcoin is open source, programmable and can over time adopt new features of any alt coin out there.

Also, who in their right mind really thinks that a currency named DOGE is going to take over the world?  Can you imagine world leaders saying "We are supporting the DOGE currency for World trade." The stupid name alone will hinder Dogecoin from going anywhere, just like BBQCoin.  Unless the future prophesized by the movie Idiocracy actually comes true, lol.

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[smoothie]

i've been looking forward to this.

the altcoins need to go away.  this crash will serve to make that happen.  and then Bitcoin can continue on.

I agree with some of what you say.

Some altcoins need to go away. Like in any healthy market there needs to be competition. That is how markets work.

Litecoin perhaps is not competing with Bitcoin but they are growing in the same digital age.

Who knows perhaps Litecoin dies and Bitcoin solely lives.

So far the markets have spoken that Litecoin has some value.

[GigaCoin]

I think alts that are based on smart contracts and crypto assets have the most promise. Also anonimity alts like darkcoin with active development.

The vast majority of alts are scams, most of them lost 95% of their value in the crash. Also a new wave of country based coins are coming up replicating auroracoin which are all 100% scamd. Get rich quick schemes(for the owners of course). however it was a good opportunity to increase the amount of bitcoin and litecoin you had while the boom was going on.

[blatchcorn]

Alts will be around as long as BTC is around

[counter]

Yea if you ask me the ALT crash will only be better for bitcoin.  I could be mistaking but I see it as a positive for Btc. 

[devphp]

Also, who in their right mind really thinks that a currency named DOGE is going to take over the world?

It's not about taking over the world, it's about getting 25% of all crypto currency transactions of the world, that'd be good enough for Doge

Also, who in their right mind would have really thunk that Windows would become so popular as to take 90% of all PC market being so buggy, especially the earlier versions (95, 98)? It's all about marketing these days, you naive dude. First you create demand for a product, then the product sells, not vice versa. From this perspective whichever coin does more efficient marketing efforts, wins. Not necessarily technically best. Although all bitcoin clones are about equal as far as technical details go. And if we had to choose a technically superior alt, it'd undoubtedly be NXT, but it lacks in marketing at this point.

[Ibian]

Also, who in their right mind really thinks that a currency named DOGE is going to take over the world?

It's not about taking over the world, it's about getting 25% of all crypto currency transactions of the world, that'd be good enough for Doge

Also, who in their right mind would have really thunk that Windows would become so popular as to take 90% of all PC market being so buggy, especially the earlier versions (95, 98)? It's all about marketing these days, you naive dude. First you create demand for a product, then the product sells, not vice versa. From this perspective whichever coin does more efficient marketing efforts, wins. Not necessarily technically best. Although all bitcoin clones are about equal as far as technical details go. And if we had to choose a technically superior alt, it'd undoubtedly be NXT, but it lacks in marketing at this point.

Windows is the primary OS because it is better for the majority of people. This does not even bear discussion. That's also why it is ridiculous that so many here promote linux, most people do not and will never use it.

[devphp]

Windows is the primary OS because it is better for the majority of people. This does not even bear discussion. That's also why it is ridiculous that so many here promote linux, most people do not and will never use it.

'Better' is a very illusive term.
I can say DOGE is better than Bitcoin for the majority of people, because people feel better when they use it, because: a) they get more of DOGEs for the same dollar (they don't care about divisility, they care about round numbers), b) there is no shady business associated with DOGE (no Silk Road past).

[Ibian]

Windows is the primary OS because it is better for the majority of people. This does not even bear discussion. That's also why it is ridiculous that so many here promote linux, most people do not and will never use it.

'Better' is a very illusive term.
I can say DOGE is better than Bitcoin for the majority of people, because people feel better when they use it, because: a) they get more of DOGEs for the same dollar (they don't care about divisility, they care about round numbers), b) there is no shady business associated with DOGE (no Silk Road past).

That's all that matters.

[Erdogan]

Also, who in their right mind really thinks that a currency named DOGE is going to take over the world?

It's not about taking over the world, it's about getting 25% of all crypto currency transactions of the world, that'd be good enough for Doge

Also, who in their right mind would have really thunk that Windows would become so popular as to take 90% of all PC market being so buggy, especially the earlier versions (95, 98)? It's all about marketing these days, you naive dude. First you create demand for a product, then the product sells, not vice versa. From this perspective whichever coin does more efficient marketing efforts, wins. Not necessarily technically best. Although all bitcoin clones are about equal as far as technical details go. And if we had to choose a technically superior alt, it'd undoubtedly be NXT, but it lacks in marketing at this point.

Windows is the primary OS because it is better for the majority of people. This does not even bear discussion. That's also why it is ridiculous that so many here promote linux, most people do not and will never use it.

And they did it with only voluntary customers, retailers, employees and stockholders. There was no use of violence or reliance on government force, backed by violence. As with all monopolies by merit, there was competition on the fringes, OSX, linux, and with with evolution of devices into mobile, they lost their monopoly. A happy series of events for the free market.

[GameKyuubi]

Who says DOGE can't be renamed?  It's happened before.  If the name is really the problem then it isn't much of one.

[devphp]

Who says DOGE can't be renamed?  It's happened before.  If the name is really the problem then it isn't much of one.

What a preposterous idea to rename DOGE!
Unless it's renamed to Doggy, I disagree with the idea of renaming

[freebird]

I have come to believe that ideologically based altcoins are the future. Bitcoin started as an ideological movement against the banks, i.e. to distribute the power of money creation into the hands of the people and eliminate the need for a middleman to process payments. Now, I think bitcoin itself is mostly played out, because people have discovered that anyone can create their own competing currency using similar technology and some new ones are being created which improve upon the flaws of bitcoin.

Two of the main flaws of bitcoin are that the money creation process wastes energy and that most of the bitcoins are concentrated in the hands of the earliest adopters. Both of these flaws prevent many people who would otherwise be likely to support bitcoin from doing so.

I think new cryptocurrencies will rise which offer solutions to those problems. The best attempt I've seen so far is SolarCoin (solarcoin.org), which distributes 99.5% of the currency to producers of solar energy, thus providing an economic incentive for people around the world to switch to a clean renewable energy source and help the environment. Only 0.5% of the currency is reserved for the founders and early adopters such as miners, so the main intention of this currency is not to enrich a small group of people.

In my opinion, altcoins which are based on promoting some philanthropic goal, such as solar power or whatever else, are going to be the future of cryptocurrency. Most normal people are never going to embrace crypto unless it is seen as doing some good in the world; otherwise, might as well just use regular money. Bitcoin itself has acquired too much of an image of shady business (drugs, tax evasion, corrupt exchanges) and early adopters getting filthy rich by hoarding coins. With that image, it's not going to catch on with the general public. Look for a few high-quality altcoins with philanthropic purposes to catch on instead, if crypto has much of a future.

[porcupine87]

Who says DOGE can't be renamed?  It's happened before.  If the name is really the problem then it isn't much of one.

DOGE's only value against other cryptos is its name and the meme behind it. Only because of that people use it. I have no DOGE.

[Erdogan]

I think new cryptocurrencies will rise which offer solutions to those problems. The best attempt I've seen so far is SolarCoin (solarcoin.org), which distributes 99.5% of the currency to producers of solar energy, thus providing an economic incentive for people around the world to switch to a clean renewable energy source and help the environment. Only 0.5% of the currency is reserved for the founders and early adopters such as miners, so the main intention of this currency is not to enrich a small group of people.

You mean distributed to some people who destroy wealth by producing expensive solar energy, paid for by the masters, who steal from the people by means of violence, giving them a halo of environment friendlyness? Yeah, that solves everything.