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Author Topic: Conspiracy theory: BTC/LTC holders will never allow an alt to get to their level  (Read 489 times)
solid12345
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June 09, 2014, 02:41:21 PM
 #1

People keep talking like LTC is dying and on its way out, yet no coin has still managed to come to even a fraction of its market cap. Blackcoin, Darkcoin, XC and now even Vericoin have tried to make runs for the coveted top spots and no matter how high they get, all eventually get dumped into the ground, they can't even beat out Peercoin or NXT to hold in the top 5.

Yes we all know there are many scamcoins that exist for no other reason but to be P&Ded to death but now even the good coins that advance crypto are not allowed to rise, is it possible the reason being that the big BTC and LTC whales are due to this, when you have hundreds of thousands if not millions tied up in crypto wealth, what is it to you to buy up 15-25% of the supply of a rising alt, pump it up and get people excited, then dump on everyone killing the coin's growth for good while adding a bit more to your treasure chest?

What say you?


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Whoisthelorax
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June 09, 2014, 03:11:44 PM
 #2

interesting theory.

I think what darkcoin and blackcoin did that they deserve the most credit for was not believing in just one pump. They clearly reinvested their profits from the initial pump and bought even more of their coins on successive pumps. Their crypto advancements are less applause worthy, imo.


You have to remember that there is some truth to the fact that if your cryptocurrency isn't accepted anywhere, it is merely a speculative vehicle until legitimate large merchants begin to accept it. Bitcoin took years of spreading and getting merchants to accept their currency and they still haven't even broken the tip of the iceberg yet. Blackcoin, Darkcoin, and XC (the ones you listed) aren't even on the same playing field when we talk about big merchants accepting those currencies. So a run up to 50 million market cap is pretty wild speculation that people in the future who sell services or goods will want to accept DRK, BC, or XC some day.

I've always wondered if the people making shitty pump and dump alts where true believers in btc and they were merely trying to wreck the alt coin movement as you have described. I've mostly discarded that theory and accepted they just want to make btc from their alt pumps, which they may or may not then change into fiat. either way, its all about making benjamins.


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digitalindustry
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June 09, 2014, 06:47:51 PM
 #3

conspiracy fact they don't have a choice and the world is a big place.

it all comes down to something called "decentralized consensus"

to put it simply for you , does the TV tell you what reality is or do you find the information elsewhere. 

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hellscabane
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June 09, 2014, 07:02:16 PM
 #4

Let's be honest, it's not the holders of BTC/LTC that are preventing other coins from having a sustained marketcap at a high price; it's the fact that there is virtually no infrastructure built around those coins. No one is stopping those coins from being used as a "currency."

Sure it's nice to have nifty features, but without any usage besides as a speculation tool it's basically being asked to be something to pump and dump with no long-term endeavors.
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June 09, 2014, 07:13:56 PM
 #5

Apart from a few staunch believers, most people dabbling in alts are there purely to increase their BTC, and maybe LTC, holdings. They'll keep on strangling and then moving on to the next coin that offers them the same opportunities.


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