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Author Topic: Crypto ICO's are killing Bitcoin.  (Read 6312 times)
Truther (OP)
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October 31, 2014, 03:21:12 PM
 #1

I never understood why cryptotraders and exchanges support ICO's, my reasoning is this: An ICO gets funded, then they do what, they SELL the BTC they raised for fiat and push the price dive on BTC, thus taking all those BTC out of the trade environment, anyone thinking that an ICO would reinvest into the exchange is naive. This hurts everyone, even the exchanges. You might say "Well the exchanges get fee's on ico" well that is true, but they are losing all future potential fee's on those coins, if they had continued trade on the market.

So in Short - ICO's are killing Bitcoin and CryptoMarkets.
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CryptoCarmen
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October 31, 2014, 04:18:06 PM
 #2

Exchanges dont care for anything else then profit.

They will list scam coins as long people will pay for votes for enlistment.
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October 31, 2014, 04:25:36 PM
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 #3

They're not killing Bitcoin. They prove to the world that there's no reason to wait for something better.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
Truther (OP)
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October 31, 2014, 04:33:17 PM
 #4


But thats exactly what happens.. Take a look at  Ortho ICO, funds release DEV heads for the hills and sells off his coins.

https://c-cex.com/?p=ortho-btc

https://bitcointalk.org/index.php?topic=788907.0

or the Dozens of other Scams ICO's..

they might aswell just 100% premine. or BTC Loan that I will never repay and here are some useless coins for you trouble.

Most people get paid AFTER they've done the work, NOT before.
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October 31, 2014, 04:37:42 PM
 #5

If you have something that needs to get funded, try BitPools...funding from the people to the solution.

First seastead company actually selling sea homes: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
Come-In-Behind
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October 31, 2014, 05:41:16 PM
 #6

So first it was the mining pools killing bitcoin, then it was altcoins killing bitcoin, then it was the bitcoin foundation killing bitcoin, then it was regulation from governments killing bitcoin, then it was exchanges killing bitcoin, now its ICO's killing bitcoin....What's next, your dog ate my bitcoin private keys so he's killing bitcoin too?
 

Try focusing your thoughts better, Big Corporations that accept bitcoin, sell it for fiat immediately, such as Newegg, Overstock(they still keep a few % of their bitcoin sales in bitcoin however), Dell, etc etc. They are what causes the Bitcoin price to become stagnant(good thing), or decrease from the sell pressure(bad thing), not ico's.
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October 31, 2014, 06:12:27 PM
 #7

So first it was the mining pools killing bitcoin, then it was altcoins killing bitcoin, then it was the bitcoin foundation killing bitcoin, then it was regulation from governments killing bitcoin, then it was exchanges killing bitcoin, now its ICO's killing bitcoin....What's next, your dog ate my bitcoin private keys so he's killing bitcoin too?
 

Try focusing your thoughts better, Big Corporations that accept bitcoin, sell it for fiat immediately, such as Newegg, Overstock(they still keep a few % of their bitcoin sales in bitcoin however), Dell, etc etc. They are what causes the Bitcoin price to become stagnant(good thing), or decrease from the sell pressure(bad thing), not ico's.

You had it on the first paragraph then said the same thing he did on the second.

The responsibility of integration of bitcoin to economic ecosystem and current structures lies with you, not them. It is the lack of right approach which is the issue.
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October 31, 2014, 08:17:06 PM
 #8

Just ignore 99% of alts and just buy Huntercoin. 

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Come-In-Behind
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November 01, 2014, 12:56:54 AM
 #9

So first it was the mining pools killing bitcoin, then it was altcoins killing bitcoin, then it was the bitcoin foundation killing bitcoin, then it was regulation from governments killing bitcoin, then it was exchanges killing bitcoin, now its ICO's killing bitcoin....What's next, your dog ate my bitcoin private keys so he's killing bitcoin too?
 

Try focusing your thoughts better, Big Corporations that accept bitcoin, sell it for fiat immediately, such as Newegg, Overstock(they still keep a few % of their bitcoin sales in bitcoin however), Dell, etc etc. They are what causes the Bitcoin price to become stagnant(good thing), or decrease from the sell pressure(bad thing), not ico's.

You had it on the first paragraph then said the same thing he did on the second.

The responsibility of integration of bitcoin to economic ecosystem and current structures lies with you, not them. It is the lack of right approach which is the issue.

No the second paragraph was me telling him how his belief that Bitcoin's downward price is coming from ICO's, which is not true, and it's better for him to think that it's coming from Companies accepting bitcoin and immediately selling it for fiat, which is 100% true. The day when corporations accept bitcoin and keep a decent enough % in bitcoin, without exchanging to fiat, is the day Bitcoin becomes mainstream.
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November 01, 2014, 06:43:30 AM
 #10

Just ignore 99% 100% of alts and just buy Huntercoin. bitcoin

Makes life much simpler.
FIFY

All alts have zero long term value. To date I have seen no alt that can give any real feature that bitcoin does not provide
BayAreaCoins
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November 01, 2014, 06:49:12 AM
 #11

Just ignore 99% 100% of alts and just buy Huntercoin. bitcoin

Makes life much simpler.
FIFY

All alts have zero long term value. To date I have seen no alt that can give any real feature that bitcoin does not provide

Better to push two global currencies at once to not freak the Christians out about a single currency dominating the world.

The alt must bring in new people and not pull people away from the Bitcoin mining network.  The way it is distributed has to be different than BTC, but not sacrifice security or pull away from the network.  

Hense my support.  

Really as a Bitcoin holder you should want to see Bitcoin flow into anything but fiat due to those razor thin markets Cheesy (I understand a lot of trades take place off the exchanges of course)


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Q7
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November 01, 2014, 07:00:20 AM
 #12

Well you can't stop them, if there is money to be made who wouldn't want to. The main thing here is to educate peopld to be carefully when selecting the right investment.

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November 01, 2014, 12:20:09 PM
 #13

I never understood why cryptotraders and exchanges support ICO's, my reasoning is this: An ICO gets funded, then they do what, they SELL the BTC they raised for fiat and push the price dive on BTC, thus taking all those BTC out of the trade environment, anyone thinking that an ICO would reinvest into the exchange is naive. This hurts everyone, even the exchanges. You might say "Well the exchanges get fee's on ico" well that is true, but they are losing all future potential fee's on those coins, if they had continued trade on the market.

So in Short - ICO's are killing Bitcoin and CryptoMarkets.


I don't agree. Are IPOS killing the stock market? You can make so much money from investing in the right ICO, all you need is a little guidance. No one is being forced to buy any ICO and frankly speaking, I didn't think the btc made from any ICO is enough to destabilize the price of bitcoin.

No bitcoin leaves the trading environment. If you sell then someone has to buy. So I don't think this problem that your speaking of even exists.
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November 01, 2014, 12:23:22 PM
 #14

Just ignore 99% 100% of alts and just buy Huntercoin. bitcoin

Makes life much simpler.
FIFY

All alts have zero long term value. To date I have seen no alt that can give any real feature that bitcoin does not provide

Faster transaction times and genuine anonymity are two features that I can name off the top of my head.

I understand where you are coming from, I also don't think that a million altcoins are necessary, but that is the only way that we can have a free and unregulated trading environment where you don't have to use fiat. So I am all for the creation of altcoins because now I am making real money
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November 01, 2014, 12:35:32 PM
 #15

Well, they can't "kill" bitcoin at all. There is no need to compare shitty scamcoins with Bitcoin.

Nowadays the altcoin market is filled with a bunch of newbies, scammers, and gamblers.
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November 01, 2014, 01:00:18 PM
 #16

Can someone tell me if any of the other 500 or so alts have been adopted in the real world?
Im struggling to find any tech from any coin that is being used in the day to day world.
FattyMcButterpants
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November 02, 2014, 07:20:09 PM
 #17

Just ignore 99% 100% of alts and just buy Huntercoin. bitcoin

Makes life much simpler.
FIFY

All alts have zero long term value. To date I have seen no alt that can give any real feature that bitcoin does not provide

Faster transaction times and genuine anonymity are two features that I can name off the top of my head.

I understand where you are coming from, I also don't think that a million altcoins are necessary, but that is the only way that we can have a free and unregulated trading environment where you don't have to use fiat. So I am all for the creation of altcoins because now I am making real money
There are not any altcoins that actually offer "faster" transaction times. There are many that offer fast block confirmation times, but this is not the same as faster transaction times. With bitcoin you can know with a good amount of certainty that a TX will confirm after only a few seconds.

You can also establish anonymity with bitcoin by simply using a mixer that does not keep logs.
oraclechain
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November 03, 2014, 01:34:01 AM
 #18

I never understood why cryptotraders and exchanges support ICO's, my reasoning is this: An ICO gets funded, then they do what, they SELL the BTC they raised for fiat and push the price dive on BTC, thus taking all those BTC out of the trade environment, anyone thinking that an ICO would reinvest into the exchange is naive. This hurts everyone, even the exchanges. You might say "Well the exchanges get fee's on ico" well that is true, but they are losing all future potential fee's on those coins, if they had continued trade on the market.

So in Short - ICO's are killing Bitcoin and CryptoMarkets.


Exchanges are purely interested in profit, in fact they more often than not list altcoins which are more likely to be pump and dumps.

In fact, ICOs on Bitcoin create metacoins which are more stable when Bitcoin and these altcoins were falling in price.
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November 03, 2014, 02:03:27 AM
 #19

I think ICOs would not be as popular if Bitcoin would be more open minded towards making changes, improving the ease of use, and adding features. Bitcoin drove me to alternative currencies due to its shortcomings. Using Bitcoin is like playing Nintendo 64 in 2014.
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November 03, 2014, 03:13:54 AM
 #20

I think ICOs would not be as popular if Bitcoin would be more open minded towards making changes, improving the ease of use, and adding features. Bitcoin drove me to alternative currencies due to its shortcomings. Using Bitcoin is like playing Nintendo 64 in 2014.

nah, using bitcoin is more convenient and fast than playing Nintendo 64.
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