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Author Topic: Alternate Cryptocurrencies Keep The Price Of Bitcoin Down  (Read 1479 times)
screwUdriver
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January 02, 2015, 06:38:00 AM
 #21

THe btc market cap vs the entire alt market cap is like an ocean to a puddle.
If you ignore ripple, the market cap of bitcoin is ~4.3 billion, the next two biggest crypto market caps are ~$600 million and ~$500 million respectively, after that the next biggest market cap is under $100 million and after that they continue to fall rapidly.

Looking at the market caps of some of these shitcoins, I am somewhat surprised as to how valuable they are. I am not entirely sure how they got so much money invested in them (there must be a lot of suckers out there)

http://coinmarketcap.com/currencies/views/market-cap-by-total-supply/
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Silverspoon
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January 02, 2015, 01:13:19 PM
 #22


Looking at the market caps of some of these shitcoins, I am somewhat surprised as to how valuable they are. I am not entirely sure how they got so much money invested in them (there must be a lot of suckers out there)

Because ground-breaking, paradigm-shifting, black-swanning, point-tipping disruptive technologies, brah.  As a bitcoin aficionado, you should understand Smiley
crazyearner
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January 02, 2015, 01:20:30 PM
 #23

Alt coins in a way keep prices down but in the same way BTC prices can also keep alt coin prices down so its a balance and 50/50 If something comes to light that theirs something more valuable than bitcoin and it can happen with an alt coin if they get it right then I would thing people would end up migrating to that coin and bitcoin taking a massive plummet down. BTC goes up generally others will go up based on % and market caps. Am sure that if a alt coin comes out and has a lot more to offer that Bitcoin does not and is done in the right way it will take off and surpass Bitcoin. Only a matter of time really to see this actually happen as theirs a lot of comperticition right now and wont take much at this growth for something perfect or better than Bitcoin to come along and knock it off the top.

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screwUdriver
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January 03, 2015, 07:59:11 AM
 #24


Looking at the market caps of some of these shitcoins, I am somewhat surprised as to how valuable they are. I am not entirely sure how they got so much money invested in them (there must be a lot of suckers out there)

Because ground-breaking, paradigm-shifting, black-swanning, point-tipping disruptive technologies, brah.  As a bitcoin aficionado, you should understand Smiley
I really don't think any altcoins have done any of the above. All they have done is tinkered with the protocol of bitcoin in a minor way, primarily by changing the protocol that the altcoin is mined, the target block time, the total supply and the difficulty retarget time
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