A terrible day for cryptos...

[Bizmark13]

Every single major crypto is down in the double digits. The price of a single bitcoin has reached its lowest point in 14 months. What's going on here?



The only cryptos in the top 50 that have gone up in the past 24 hours are 17. Marinecoin (979 percent but with <1 BTC volume), 24. BitcoinDark (0.57 percent), and 48. Unobtanium (16.46 percent).

[pragmatic gut]

Several things I have noticed as of late.


Forbes came out 12/31/14 with an article on Ethereum.....


....dollar is only going to get stronger for awhile ......

....Paycoin fiasco ..... really is pathetic ......


.... Bitcoin is no longer cool ..... people have lost patience with it ....

[FandangledGizmo]

Every single major crypto is down in the double digits. The price of a single bitcoin has reached its lowest point in 14 months. What's going on here?

BitCoin needs to pay out $30 million + a month to miners just to sustain it's current CAP not easy in a bear market. It's also a victim of it's own success. The more utility it gains and the more people spend it, the more downward pressure is created as retailers don't hold it due to volatility. So a sale in Bitcoin almost equates to a sale of Bitcoin.

A bad 2014 and passing a key psychological $300 barrier are probably to blame for the more sudden fall. As most coins are priced in BTC it takes everything down in dollar terms.

But here's the pitch... Not all crypto's are alike,

BitShares has low inflation costs and retailers will be likely to hold BitAssets more due to their low volatility, privacy and that they pay interest. As each BitAsset requires 300% collateral to create, unlike Bitcoin a little BitAsset demand goes a long way.

BitSharesX's merger into a single BitShares cost them valuable momentum. I think their goal now is to get 1.0 out and everything required to use & integrate BitAssets as simple as possible and then market hard, all happening in the next month. Once they rise over $100 million and pass LTC etc. (That is doomed, currently trying to sustain 30% inflation.) Then BitShares are the next decentralised alternative to Bitcoin. Though crypto is in a bear market, if BitShares has similar demand and use it will shine because of low inflation and the nature of BitAssets.

[balu2]

well, there was a winner today ... and it is known for NOT bleeding a lot




what i don't get is why people torture themselves with the long halvings and high inflation - so i bought uno - and i'm a happy camper  

halving only every 4 years is a mistake imo

[Oldminer]

Every single major crypto is down in the double digits. The price of a single bitcoin has reached its lowest point in 14 months. What's going on here?



The only cryptos in the top 50 that have gone up in the past 24 hours are 17. Marinecoin (979 percent but with <1 BTC volume), 24. BitcoinDark (0.57 percent), and 48. Unobtanium (16.46 percent).

People are shying away from the major crypto's and moving into the minor crypto's eg: DGB, BLU

[michaeladair]

Baby we've gotta Hodl on to what we've got... it doesn't make a difference if we make it or not. (Which we will of course.)
Everyone just hodl on, Cryptocurrencies are a major improvement on currencies and can benefit many people in the world. All we need is more knowledge, how many people even know that Cryptos exist?

[iGotSpots]

Guess you picked the wrong ones

[kelsey]

its a great day for cryptos, those who'd thought they'd miss the crypto boat...well their ship has come back in....

my guess though is few have the ..... to buy now; and will cry again later about missing the boat while getting sucked into every second get rich quick scamcoin.

as the old market saying goes 'buy when there's blood on the street even when the bloods your own'

nows kinda half of the whole 'buy low sell high' equation, a time when investors cry but traders grin from ear to ear 

[unusualfacts30]

Here are some reasons:

1.) January 04. Majority of people are on vacation and not much trading going on.

2.) BTC price is crashing and people are converting their BTC into fiat to save their ass.

3.) Lot of people sold crypto on 31st December so they could report it as "loss" on their tax return.


We'll be okay by 15th of January. Right now it's good time to stock up on good coins that are being sold for cheap price.

[xcapator]

people holding coins are losing a lot, I know a guy holding 60k ltc that he bought when it was $8, and he is still holding now, do the math

[Agestorzrxx]

people holding coins are losing a lot, I know a guy holding 60k ltc that he bought when it was $8, and he is still holding now, do the math

LTC is going to die, I can't believe this guy still hold it.

[nomoreheroes7]

people holding coins are losing a lot, I know a guy holding 60k ltc that he bought when it was $8, and he is still holding now, do the math

LTC is going to die, I can't believe this guy still hold it.

I doubt very much LTC is going "to die".

I doubt very much LTC is not going to die. The writing has been on the wall for the past year; how anyone can't see that is beyond me.

[waaat?]

people holding coins are losing a lot, I know a guy holding 60k ltc that he bought when it was $8, and he is still holding now, do the math

LTC is going to die, I can't believe this guy still hold it.

I doubt very much LTC is going "to die".

I doubt very much LTC is not going to die. The writing has been on the wall for the past year; how anyone can't see that is beyond me.

bitcoin dies and takes litecoin with it.

The aera of inflation will come to an end and we can finally trade coins for profit.
It was just very unfortunate the first mover was economically flawed (coders are not economists) and a pitty that inflation was copied so much.

[kelsey]

BTC and LTC success shouldn't be based on price vs USD,.

these both are constantly improving in value.

few noobs on the forum saying ltc is dead (mostly to pump their own shitcoin), wont change the fact that ltc have a audience far above the rest of the alts put together.

the orginal dev created something to avoid the mistakes that every failed alt before it had made, did a good job and ltc will continue to succeed.

[waaat?]

litecoin is very good in bleeding. No idea who actually are the buyers.   

[kelsey]

You mean joining the ASCIS race like Bitcoin did ? Yes he did a good choice for his Fiat wallet.

joining? ltc was not made to avoid asics like many noobs mouth on in here about, asics wasn't even an issue at the time.

ltc been one of the fairest launched least scammie coins out of all the alts here, something everyone knows.

[kelsey]

litecoin is very good in bleeding. No idea who actually are the buyers.   

atm traders who don't follow the masses and are smart enough to buy low sell high.

[kelsey]

Aehrm ? Wrong !

Why was scrypt created ? Looks like you are only here for your vacation.

noob do your research not just listen too the dribble of your fellow noobs, asics wasn't even an issue or considered at the time ltc was developed.

[kelsey]

The original intended purpose of using scrypt was to allow miners to mine both Bitcoin and Litecoin at the same time.[15] The choice to use scrypt was also partially to avoid giving advantage to video card (GPU), FPGA and ASIC miners over CPU miners.

Due to Litecoin's use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.[20]

http://en.wikipedia.org/wiki/Litecoin

I don't need even look that far...

and nothing you quoted states ltc was made to avoid asics, again because at the time of creation asics wasn't an issue, ltc may have been created to be gpu resistant but it wasn't created to be asics resistant., and any of that was only a side benefit at the time and no major point to its creation.

[TinEye]

Pointing out the whole list is redundant. The prices of the altcoins are still against BTC, so no point in showing them.

What the table does show is that the Paycoin scam is finally unraveling, and that Litecoin doesn't have a future but then most knew that.