Bitcoin Forum
December 16, 2017, 10:05:29 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: A hedge to [Bitcoin] ... the importance of "altcoin"?  (Read 863 times)
Moneroman88
Sr. Member
****
Offline Offline

Activity: 420


View Profile
September 15, 2014, 09:49:31 PM
 #1

If truth is that Bitcoin's demise with its #1  $8,000,000,000 market cap will boost major Bitcoin-Holder-supported altcoin Monero with its $6,000,000 market cap, and Bitcoin's stellar growth will lead to Monero's exchange rate going down vs. Bitcoin, then Bitcoin's welfare is not in Monero's best interests.

In practice, very few own more XMR than BTC by value. Especially the largest holders of XMR invariably own a lot more BTC. This means that the majority of moneros are in the hands that would rather see Bitcoin flourishing (even if it means that XMR goes down), and therefore the Monero community is supporting Bitcoin.

Monero therefore is a hedge to Bitcoin, do you agree with this assessment?

The Monero camp is composed of some of the largest Bitcoin holders and if those holders ever decide to collectively withdraw their support, at this point it means a steep dive for Bitcoin.

Not even mentioning the possibility that other honest bitcoiners might also want to switch allegiance. There are many. The 10-15k holders of XMR collectively trust it only $6 million. But the same guys trust Bitcoin up to $100s of millions. If they decide to sell this stash out of fear or retaliation, the price would be destroyed.

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513418729
Hero Member
*
Offline Offline

Posts: 1513418729

View Profile Personal Message (Offline)

Ignore
1513418729
Reply with quote  #2

1513418729
Report to moderator
Torque
Legendary
*
Offline Offline

Activity: 1288



View Profile
September 15, 2014, 10:01:30 PM
 #2

Monero therefore is a hedge to Bitcoin, do you agree with this assessment?
Every alt coin is potentially a hedge to bitcoin, not just XMR.  So what?  Fiat is a hedge to bitcoin as well, lol.

The Monero camp is composed of some of the largest Bitcoin holders and if those holders ever decide to collectively withdraw their support, at this point it means a steep dive for Bitcoin.

To insinuate that the btc price is at this point being propped up by some "core Bitcoin elite" is asinine and laughable.

I love how these "What if bitcoin's growth is slowing and people decide to jump ship?" insinuative threads to start to come out once the btc price starts to stagnate.
Moneroman88
Sr. Member
****
Offline Offline

Activity: 420


View Profile
September 15, 2014, 10:10:54 PM
 #3

To insinuate that the btc price is at this point being propped up by some "core Bitcoin elite" is asinine and laughable.

No other altcoin even slightly has the amount of old school Bitcoin supporters. In fact a large chunk of the "core Bitcoin elite" members as you call it pretty much stands behind Monero. I don't see where this is asinine and laughable.

Bitcoin is not as solid as some investors or you make it look to be. In fact Bitcoin is extremely fragile as it solely depends on the support of its initial holders (of which - interestingly - I estimate at least 70%+ are actually direct Monero supporters/members). If these were to withdraw their support ... Bitcoin would crash significantly to a 1 digit price.
criptix
Legendary
*
Offline Offline

Activity: 1372



View Profile
September 15, 2014, 10:20:12 PM
 #4

newbie jail please.... Roll Eyes

PECULIUM                [  PRIVATE SALE ~$2M PLEDGED ]
First Saving System in CryptoCurrency Driven by Artificial Intelligence     / WHITEPAPER / ANN / BOUNTY / TELEGRAM /

                                   ▓░          ░  ░░░    ░▒▓▓▓▓▓▓▒▒
                                  █▒░░░░░░░░░░░░░▒▒▒ ▒▓██▓▓▓▒▒▒▒▒▒▓
             ░░░░░▒▒░░  ░░░░░░░░░▒█░▒▒▒▒▒▒▒▒▒▒▒▒▓▓▒▒███▓▓████████▓▓
        ░▒▒▓▓▓▓▓▓▓▓▓▓▓▓▒ ░░░     ▒▓▒▒▒▒▒▒▒▒▒▒▒▒▓▒▒▓██▒▓██████▓█████
     ░▒▒▒▒░░░░░ ░░░░░░▒▓▒ ░░░    ░▓▓▓▓▓▒▓▒▒▒▒▒▒▒▓██▓ ████████▒▓██▓▓
          ░░░░▒░▒▒░▒▒▒▒░▒░ ░      ▓▒▓▓▓▓▓▓▒▒▒▓▒▓▓▓▒░████▓███▒████▓▓
      ░░░░░░░▒▒░░░▒▒▒▒▒▒░░       ▒▓░▓▓▓▓▓▓▓▓▓▓▓▓▓▒ █████████████  
       ░░░▒▒▒░░░░▒░▒▒▒▒▒▒▒   ░░░░▒▒▒▒▓▓▓▓▓▓▓▓▓▓▒▒▒███▓█████▓░     
      ░░░    ░░░▒▒▒▒▒░▒▒▓▓  ░░░ ▒▒▒▒▒▒▓▓▓▓▓▓▓▒ ░▓██▓▒░          ░ ░
     ░░  ▒▓█████████▓▓▓▒▓░  ░░ ░▒▒▒▒▒▒▒▒▒▓▓▓▓▒▒▓▒░   ░░░ ░░░░     
     ░ ▓██▒▓▓▓███▒▒▒▒▓▓▓▓    ░ ░▒░▒▒░▒▒▒▒▒▒▒▒▓▓▒▒░░░░             
     ░▓█░▒██████████▓▒▒█      ░░░░░░░░░▒▒▒▒▒▒▒▒▒▒▒▒▒░░            
    ░▓▓ ███████▓▒██▓███▒      ░░░░░░░░░░░░▒░▒░▒░▒▒░░░░░░░         
    ▒▒ ▓██▓▓██▒▓███▓███      ░░░░░░░░░░░░░░░░░░░░░░░░░            
    ▒░▒█░███▓████▓           ░ ░░░░░░░░░░░░░░░░░░                 
    ░ ██ ████▓▓     ▒       ░░  ░░░░░░░░░░░░░░                    
                   ▒░      ░░ ░   ░░░░░░░░░░                      
            ░░░░░░▒▒       ░░   ░ ░  ░░░░░░░                      
          ░░░  ░░ ░         ░          ░░░░░░                     
                           ░      ░░░░░░░▒▒░                      
                                     ░░░  ░▒                      
                            ░░▒░░░      ░  ░▒                     
                    ░    ░░░░░░ ░░░▒▒░    ░░▒░                    
                    ▒▒░░░░░░   ░░    ░▒▒░░░░▒▒                    
                      ▒▒░░▒░▓███████▓ ░▒▒▒▒▒▓▒                    
                    ▓░ ░▒░░▓██████████░░▒▒▒▓▓                     
                   ▓███░░▒▒▒▓▓▓▓███▓▓▓▓▒▒▓▓▓                      
                    ████▓▒▓▒▒▒▓▓▓▓▓▓▓▓▓▓▓▒░                       
                     ▓██▓▒▓▓▓▒▓▓▓▓▓▒▒░░░                          
                      ▓▒▒▒▓▓▓▓▓▒░░░                               
                        ░░▓▓▓▓▓▒                                  
                         ░▒▒▒▒▒▒                                  
                          ░▒▒░▒░                                  
                          ░░   ░                                  
                          ░    ░                                  ░
                             ░░                       ░           ░
                                                      ░░        ░ ░
                         ░░░░░░░░░░░░░░░░░     ░░░░░░░░░░░ ░░ ░ ░ ░
                       ░▒░░░░░░░░▒▒▓▓▓▓▓▓▓▓▓▓▓▒▒▒▒░░░░    ░░░░░░░ ░
                      ░▒░▒▒▒▓▓▓███████▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▒░░░░░░░░
                     ░▒▒▓▓████▓▓▒              ░▒▒▓▓▓▓████▓▒░░░░▒░▒
                    ░▒▓██▒░                ░░░░░░░░░░▒▒▒░   ░░░░░░▒
                   ░▒▓█       ░░░░░░░░░░▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒░░░░░▒░▒
                  ▒▒▓█   ░▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▓▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒
                 ░░▓█    ░░░░░░░░▒▒▒▒▒▒▒▒▒▒▒▒▒▒░░░ ░░░░░        ░ ▒
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 15, 2014, 10:32:49 PM
 #5

To insinuate that the btc price is at this point being propped up by some "core Bitcoin elite" is asinine and laughable.

No other altcoin even slightly has the amount of old school Bitcoin supporters. In fact a large chunk of the "core Bitcoin elite" members as you call it pretty much stands behind Monero. I don't see where this is asinine and laughable.

Bitcoin is not as solid as some investors or you make it look to be. In fact Bitcoin is extremely fragile as it solely depends on the support of its initial holders (of which - interestingly - I estimate at least 70%+ are actually direct Monero supporters/members). If these were to withdraw their support ... Bitcoin would crash significantly to a 1 digit price.

how about providing some proof to these statements?
uvwvj
Full Member
***
Offline Offline

Activity: 161


View Profile
September 15, 2014, 10:48:35 PM
 #6

You have been here 2 days and already anonoying the fuck out of me.
HI-TEC99
Legendary
*
Offline Offline

Activity: 1078



View Profile
September 16, 2014, 12:23:11 AM
 #7

What's the difference between Monero and all the other countless cryptonote clones?
Moneroman88
Sr. Member
****
Offline Offline

Activity: 420


View Profile
September 16, 2014, 04:35:32 PM
 #8

You have been here 2 days and already anonoying the fuck out of me.

It's ok to be very frightened of the obviously superior competition but you really don't have to be a dick.

What's the difference between Monero and all the other countless cryptonote clones?

Best community of all cryptocoins, and wealthiest group of supporters (majority of largest Bitcoin holders support Monero). Not comparable with other (insignificant and unneeded) cryptonote clones.
Torque
Legendary
*
Offline Offline

Activity: 1288



View Profile
September 16, 2014, 04:54:07 PM
 #9

You have been here 2 days and already anonoying the fuck out of me.

It's ok to be very frightened of the obviously superior competition but you really don't have to be a dick.

What's the difference between Monero and all the other countless cryptonote clones?

Best community of all cryptocoins, and wealthiest group of supporters (majority of largest Bitcoin holders support Monero). Not comparable with other (insignificant and unneeded) cryptonote clones.

Go away

https://bitcointalk.org/index.php?topic=784941.0
Lasmiranda
Jr. Member
*
Offline Offline

Activity: 41


View Profile
September 16, 2014, 04:58:36 PM
 #10

newbie jail please.... Roll Eyes

Absolutely!

ΠΞΜ - New Economy Movement
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!