Is there any safe haven in altcoins?

[zby]

Now that we have a correction in BTC - are the other alt coins also falling - or are there some going up?

It looks like LTC yesterday got a really bad melt-down - do you guys think this was a bottom?

[Alley]

Altcoins are dying a slow death.  They serve no purpose.  Mainstream adoption is all that matters and were having a tough enough time getting average joes to wrap there head around bitcoin. 

[houseo]

Ya I stopped the altcoin game. Don't see the point in any of them. The only ones that may have some potential are 2.0 style coins.

[gentlemand]

Most of my forays into alts have been an utter failure. They're worth treating as insane gambles. Safe haven would be the last thing I'd be regarding them as. I've never put more than a minute fraction of my BTC into them.

[C10H15N]

Lol.  There is no safe haven in crypto.  Bitcoin is the healthiest horse in the glue factory. 

[Tzupy]

Now that we have a correction in BTC - are the other alt coins also falling - or are there some going up?

It looks like LTC yesterday got a really bad melt-down - do you guys think this was a bottom?

LTC bottom still far away IMO. There wasn't enough volume for the true bottom.
And BTC that were used to pump altcoins are now returning to the BTC / fiat market.

[JimboToronto]

Altcoins are dying a slow death.  They serve no purpose. 

Their main purpose was to extend the life of GPU miners left behind by ASICs.

[JimNastics]

I also jumped out of altcoins a couple of months ago, sold all my 280x gpus and converted everything to btc. You had to be lucky to catch hysteria periods, I got lucky with the Dogecoin and Darkcoin huge pumps, but failed big time on others. All things considered, I think I came out slightly on top, but I don't really want to go back and find out I'm glad to be out of the game. Bitcoin is where it's at from here.

The only future I see in an altcoin is one with absolute 100% anonymity, which will obviously have a big niche following. Darkcoin does not fill that gap in my eyes.

[Zangelbert Bingledack]

Are altcoins a safe haven? No, but if you're bothered by short-term price movements you don't need a safe haven, you need to reduce the size of your investment. Only invest a significant amount when you've learned enough about Bitcoin and about investing to sit tight through minor fluctuations (and major ones as well - this week is nothing).

For completeness, as far as investing some left over coinage into altcoins, I'd go only with alts that take advantage of King Bitcoin's network effect by either (a) operating as a layer on top of Bitcoin or (b) sharing Bitcoin's ledger. So far no coins share Bitcoin's ledger, and Mastercoin and Counterparty are the only platforms I know of that operate on top of Bitcoin. And of those two, only Counterparty is already working and seems to show substantial promise. But again, it's not a safe haven. Your safe haven is education and contemplation on the nature of Bitcoin and investment: have some hodling fuel.

Also, there's the indispensable "Savings Plan" by Risto Pietila and the ensuing educational discussion in that thread:

[arbitrage001]

People should realized by now most of the alt coin are pump and dump.

With the exception of anon coin/feature, if any developer manage to get this to work, then may be there is an untapped market for it.

[Ibian]

No.

[lynn_402]

Now that we have a correction in BTC - are the other alt coins also falling - or are there some going up?

It looks like LTC yesterday got a really bad melt-down - do you guys think this was a bottom?

Imho, Peercoin seems to be a good safe haven in case PoW fails because of the centralization of mining.
It is also relatively stable; its price is about the same now than it was a month ago.

[Ibian]

Now that we have a correction in BTC - are the other alt coins also falling - or are there some going up?

It looks like LTC yesterday got a really bad melt-down - do you guys think this was a bottom?

Imho, Peercoin seems to be a good safe haven in case PoW fails because of the centralization of mining.
It is also relatively stable; its price is about the same now than it was a month ago.

We don't want stability. Yet. Retard. Stability will only be possible once the market is saturated, and we are about 1000 times away from that.

[El Dude]

Litecoin - the only alt coin with enough volume and liquidity to be considered by big merchants and Coinbase.

[xephyr]

Litecoin - the only alt coin with enough volume and liquidity to be considered by big merchants and Coinbase.

From https://www.cryptocoincharts.info/v2/markets/graphicalComparison



Yes, litecoin price is depressed but now very attractive to speculators who want to diversify. Nothing wrong with having litecoin in your portfolio; at current ltc/btc price upside potential for litecoin is considerable. Perhaps 80/20 bitcoin/litecoin mix for investors. However IMO ltc/btc has not bottomed out yet, see this chart:



If ltc/btc price goes below .010 on heavy volume could offer very good risk/reward for buying.

[silversmith]

In the last six months on BTC-E(January 5th to July 4th)

LTC ... down 69%
PPC ... down 79%
NMC ... down 74%
XPM ... down 91%
TRC ... down 91%
FTC ... down 87%
NVC ... down 90%

[ssmc2]

People should realized by now most of the alt coin are pump and dump.

With the exception of anon coin/feature, if any developer manage to get this to work, then may be there is an untapped market for it.

+1 on anon features. There are a couple coins (XC, XMR) that, if their dev's plans come to fruition, could certainly play a role alongside BTC in the future. Darkwallet is not a sufficent anon solution. Privacy is important to people and one of these coins will come out on top from the alt sludge and be significant.

[adamstgBit]

Macon Money guaranteed  to be as worthless as the dollar with the added bounce of being not recognized / accepted anywhere.

http://www.coindesk.com/other-alt-currencies-as-anti-bitcoins/

[TrailingComet]

Only btc and maybe ltc and a couple of others will survive
The rest are largely fluff or pump and dump schemes
Overdue correction hopefully underway

[magicmexican]

I would not draw any major conclusions yet, who knows what will happen when BTC will enter the next bubble mode.

But for now, when the price movements are very insignificant (in the grand scheme of things) - its mostly just flavor of the month pump&dump.