Can we rename the Bitcoin Suck to the Bitcoin Crush?
Bitcoin been crushing alt coins for years and many more are starting to have a crush on Bitcoin.
RE: Not a good day to be an Altcoin owner...
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Not a good day to be an Altcoin owner...
That's not bad actually. I would accept either.
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What coins did you lose big on lately?
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Steem, XRP, BNB, and EOS all taking it on the chin the last two days while bitcoin is up double digits.
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"Normally" during times when bitcoin was up 10%, many of the popular alts would be up multiples of that. Not flat, let alone down...
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BNB looks like it has been up the last three months. I have been reading Binance Coin a lot lately, what's the deal with this coin? Is it the latest craze?
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It is one of the few coins actually backed by something. The coin is tied to the profits of the Binance exchange, likely the most profitable exchange in all of crypto. Plus they are finally moving the coin off the Ethereum chain and onto it's own.
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By now, with that business-model and market volume should BNB coin stay "stable" or increase in the future.
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Good question, it is anticipated it will increase in value. I am not so sure. I think more competition will eat into Binance's profits. Right now they have a kind of mote around their business. I don't think that lasts forever.
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If their keep developing, focused on their customers needs and hardening their markets, they should be weaponize for future competition. For now!
To the generally deployment, we will often see that a today sucess or big player, will not be competitive anymore with further innovations.
So, fasten your seatbells, **We are just starting! **
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Even if the bitcoin network would collapse, certain strong altcoins would not, because of their own value.
One reason for the Bitcoin suck behavior is, that altcoin user have no alternative to bitcoin for parking their money. This is one of the "real-world" purposes of bitcoin!
Once in the future, when the market offers relevant competition, this will maybe change?!
From now I doesn't think so, because most people don't know about history and value of the cryptocurrencies, but they like the benefits and sooner or later, they want to participate.
**But who to trust, on a new financial environment? These products that have the longest market experience and stability...
**
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