BItcoin and Altcoins in 2015
Currencies / Bitcoin Dec 21, 2014 - 03:45 PM GMTOne: Bitcoin has been stuck for a while in a sort of ‘deflationary spiral.’ This means that commercial adoption by companies like Microsoft and Time has kept Btc’s price DOWN: no one wants to sell at this price coin that they (a) paid more for, and (b) can clearly see will rise greatly in value.
The Mining Thing – whereby miners tend to sell now rather than later (to pay for electricity) – remains an aspect.
Two: ‘diffusion’: there is an amazing and long-awaited change underway. It used to be the case that, as Bitcoin’s price rose, the price of ‘altcoins’ – all other cryptographic currencies – rose even more (and vice versa).
During The Big Spike, in late 2013 (though you won’t find this stat in ANY articles beyond the crypto sphere . . . ) Bitcoin’s market-cap fell to about 75% of total crypto-cap.
Today though – with Bitcoin at a low low price – almost 20% of total crypto-cap is in altcoins.
IndiaMikeZulu expects this shift to be permanent.
Check Ripple (Nos. 2 here: http://coinmarketcap.com), which is now in use with a growing number of fiat-currency banks, rising in price against Bitcoin’s falls, and showing significant trading-volume.
Check Paycoin -- https://hashtalk.org -- a coin that comes with its own ‘credit card,’ and whose acceptance with Amazon, Wal-Mart, Target, and Macy’s was pre-arranged.
And I will provide further detail on ‘appcoins’ like Gems (http://getgems.org) and Nxttycoin. Gems is still in pre-release mode. Nxttycoin seems to be a failure (IndiaMikeZulu held high hopes . . . ) – but the PRINCIPLE, that of connecting the world of smartphone users to the world of cryptographic currencies via a combined-crypto-wallet-and-crypto-‘economy’-and-user-support app for smartphones has IMMENSE potential.
And there’s Unobtanium (my home-coin: https://bitcointalk.org/index.php?topic=527500.4860). The Unobtanium community is bringing to bear a range of related developments that – tiny step by tiny step – are giving this ‘crypto-commodity’ price-independence from Bitcoin/general crypto-price trends.
Three: cryptos and the GFC:
Check this article: http://www.reddit.com/r/CryptoMarkets/comments/242i41/crypto_prices_and_the_global_financial_crisis
There is a growing awareness within the crypto-sphere of just how much money could find its way into cryptos as things get ugly, though it’s accurate to note that attitudes vary among crypto-tribes. For example, Dogecoiners are not so ‘political’; but the coiners of, for example, the ‘dark coins’ and Unobtanium are.
Conclusion:
the degree of commercial adoption in 2014 has put paid to Professor Know-Nothing’s offensive pontifications about ‘ponzi schemes’ and ‘no intrinsic value’ and ‘selling crack to children at the schoolyard gate.’
And right this very second is ‘Cheap Acquisition Opportunity Number Two.’ Cryptos – no longer just Bitcoin! – will break free from the deflationary spiral in a day or a week or perhaps a few months – and then they will never again look back.
Mark Blair
Mark Blair has a solid background in devolutionist political theory and activism. He and Ian Ridgwell and others are ‘IndiaMikeZulu.’ Mark is ‘IMZ’ at:
https://bitcointalk.org/index.php?topic=527500.4860
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