Quote from: GreekGeek on January 24, 2014, 10:37:22 AM

Quote from: manfred on January 24, 2014, 10:11:51 AM

What is going on in the world?
Has bitcoins spirit and purpose been lost and gambles taken over

This might lead to high volatility in the price of bitcoin

Imagine a few bubbles pop in the altcoins universe at the same time, everyone will rush to cash out their altcoins to bitcoins and then (maybe) to USD , leading eventually to the bitcoin/usd price to pop too

Don't know if the market cap of the altcoins can have a big effect in the BTC/USD price

If the gamblers are primarily buying altcoins with bitcoin, then I don't see how that's bad for Bitcoin. They couldn't hurt the price anymore than they helped it in the first place. It's not really any different than using bitcoin to gamble dice or poker. Later updates of the Bitcoin client might even adopt some of the good alt-coin ideas. It's when they bypass bitcoin and have altcoin-to-fiat exchanges that it could be a dangerous distraction. Money is the most marketable commodity. Like the Highlander said, "There can be only one."