The problem is that almost all traders see altcoins not as an investment into a new technology/idea but they see it as a way to produce more bitcoins.
They compare the altcoin price only to the bitcoin price, the $ price is irrelevant for them. Most of them got large quantities of BTC when it was still cheap.
So BTC goes up --> they have to sell all of their altcoins in order not to make a loss on their BTC number. Because for them if BTC goes up and alts stay the same/go down they make a loss in BTC.
BTC goes down --> they know that altcoins go down even more when BTC goes down (I do not understand exactly why it is like this). So they sell their altcoins for BTC and wait until BTC stabilizes and altcoins are at the lowest point, then buy altcoin and like this get more Altcoin than they previously had because of the altcoin discount.
BTC is stable --> they still seek to increase the number of their BTC and try to chose altcoins that have a bigger growth than BTC.
All those stupid forks just increase this problem, but as long as people profit from it, there will be many more forks since it's basically free money. It's one of the many ways to scam people, just like those massive amount of airdrop coins or some greedy ICOs (not alls ICOs).
This behaviour is also the reason why the altcoin prices will always depend on the BTC price (among other things, like for example that you can buy a lot of alts only with BTC).It will always stay like this because this is how you make the most out of your Bitcoin/Money. People also seem to follow traders blindly, contributing to this problem. I wonder what it takes to make altcoins price development more independent from BTC/traders. Maybe being able to buy Altoins with fiat would help. Or if people would wake up and realise that Bitcoin is already an old technology and there are way better options within the world of blockchain.
the life is a game . market is too
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BoardAnnouncements (Altcoins)
Re: [ANN][RLC] iEx.ec blockchain-based distributed cloud announces its Crowdsale
I've just checked my status and it states that "Blacklisted for unknown reason".
It's very hard to follow DO thread since it's moving so fast, so is there something changed in rules or something, because I've been around since round 1 and been active in BCT-forum evenly?
Today I noticed new signatures and updated it to my profile.
For this week airdrop, no rules changed. I seen your profile, maybe you do not meet the following criteria "If you miss one week posting over 10 valid post you will be excluded from only that week's distribution. if you don't follow the 10 post rule for a cumulative 3 weeks, then you will be excluded from future distribution forever."
Agree. Today when a market is flooded with overpriced shitcoins, a high quality coin is available at surprisingly low price to have a really good deal
buy more and hold for long term with me with us
Stella is the most promising project because ripple founder Jed is leading XLM. Which means XLM can achieve all ripple did, so I am patient to hold XLM for many years.
Can i buy XLM by USD? maybe on poloniex but i just trade on bittrex
Stratis still most sucess ICO! From 0.07$ rise to now approx 3$!👍🏼
No, it started from 0.007$, not 0.07$, you can find the excat data in this website below, Stratis has current 553x based on ICO price. A best performed project in the history.
According to that site the best is NXT, but Stratis is really good too BTW, I'm new to Stratis masternodes - can someone shortly explain tiers and rewards...?
Amazing return of Stratis, 500x must be one of the best performance, NXT raised 21 BTC, that is why their return is so huge, more than 3000x now. I think it missed XEM is also more than 1000x.
XEM seems to be missing indeed. I don't know XEM's initial price, but when looking at charts it was some 30 sats in 2015 - at that time BTC was at $350, so it would give some 1800x in USD terms
according to me. Xem is good coin with many interesting project but i don' t know why Xem's price is low now!
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BoardAnnouncements (Altcoins)
Re: | STRATIS | The first blockchain developed for businesses |Full POS