Quote from: mindrust on February 28, 2020, 03:27:35 PM

Quote from: dragonvslinux on February 28, 2020, 12:42:26 PM

I'm still dollar cost averaging, mainly into ~~altcoins~~ shitcoins for satoshi gains, and otherwise laddering myself into this tasty looking dip.

Shitcoins work as leveraged btc most of the time but I am also starting to believe they are the reason we are not taking off.

Couldn't agree more. Shitcoin speculation regularly holds the BTC price back. The 2018 drop from $6K to $3.2K was when Bitcoin SV was launched for example.

Quote from: mindrust on February 28, 2020, 03:27:35 PM

Imagine buying btc at $7k before it makes its move to $10k. You make ~%40. If alts also go up against btc that's easily %100 profits. (they lose much more than bitcoin holders when it goes south though, it works both ways) People who normally wouldn't be happy with %40 gains are selling their alts and since shitcoins are pegged to btc, that's creating sell pressure on us constantly. (in a leveraged way)

In other words, shitcoiners' greed is working against bitcoin. Shitcoiners are scamming bitcoin hodlers.

I'm not sure I'd called it "scamming". These exchanges that offer btc/shitcoin pairs are offering free market options. Nobody has to hold their btc, or trade in shitcoins, they are free to do as they please. If people want to panic sell because their bitcoins are falling than I'll also happily buy it from them. The fact that people sell overbought markets (btc/usd) to invest in oversold markets (btc/alts) is a necessary cycle of cryptocurrencies. Whether good or bad is beside the point if it's a regular inevitability.

Quote from: mindrust on February 28, 2020, 03:27:35 PM

They'll keep doing these hit and runs till either there will be no money or no shitcoins left.

Until Bitcoin matures, with a reasonable volatility compared to other asset classes (probably in around a decade at some 6 figure value), then the speculative nature of Bitcoin will always attract speculation on so-called alternatives. This is the natural greed of parabolic markets, like it or lump it.

Just my opinion of course Wink