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Author Topic: STOP BUYING INTO ALT COINS , as you are indirectly hurting Bitcoin  (Read 8301 times)
makebitcoin
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May 10, 2014, 10:03:28 PM
 #101

I actually think altcoins are good for bitcoin. The dogecoin community made a lot of people aware of cryptocurrency.
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jjdub7
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May 10, 2014, 10:26:31 PM
 #102

Obvious free markets are obvious.


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bumblebeee
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May 10, 2014, 11:10:25 PM
 #103

ALT coins are all crap anyways lol.

maurya78
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May 11, 2014, 04:38:42 AM
 #104

I tend to agree, in long run one or atmost two are gonna dominate the scene
Most alts are pump and dump schemes and bad PR period
Makes more confusing for newbies

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May 12, 2014, 03:18:25 PM
 #105

Well, free altcoins make me profits. And why should i pay fiats for bitcoin while ppl get it near free years ago?

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May 12, 2014, 03:22:15 PM
 #106

As you all are aware of recent Aurora coin that shot up to $100 with market cap almost $ 1.2 Billion.

That is almost 15% of Bitcoin Market Cap.

Of course as predicted, everyone sell it off and now it is worth $ 1.49 with market cap of $ 15 m.


In almost all exchanges, all alt coins are quoted by xxx/BTC.

Hence, for example, a person wish to sell Aurora Coin, he has to change to BTC via AUR/BTC and then BTC/US.

This has TWO Major implication.

Firstly, it will PUSH the price down as he would SELL it to the highest buyer.

Secondly, the alt coin will "eat into" the Bitcoin Market Cap.


I wish to call upon all exchanges to either change this exchange model to a specific value that doesn't involved Bitcoin and normal people don't buy into all these alt coins.

As you can see, by doing this, you are actually causing more harm to Bitcoin price indirectly.

And this will be one of the times when I use broken grammar, and English:

kkk we believes you
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May 12, 2014, 03:25:17 PM
 #107

ALT coins are all crap anyways lol.

Alt coins will always exist as long as BTC continues to reject the idea of adopting new changes to improve the coin.

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