Originally Posted by incog
There's already plenty of monies in the system, imo. I think what's going to happen is that all the crappy alt-coins are going to die out, leaving room for only the most stable coins: Bitcoin, Litecoin, Dogecoin and the stronger alt-coins (which I think blackcoin is a part of). Everything will "decline" a bit. This little rollercoaster ride was due to the dudes who bought lots of AMD cards to make quick money.
It will stagnate, then stabliize, then probably rise slowly again.
I THINK. I'm totally speculating here, maybe someone else can bounce off this idea?
I think you're generally on the right track, however, I don't think I want to get into the game of picking the winners and losers, market forces will do that and it could well be some that you think are strong now will end up being nothing in the end and some that might appear weak now could end up becoming dominant players. I think it's about to get pretty ugly here for a while and I wish I had a prediction of how long a little while is going to be, it could come and go like the volatile firestorm ride cryptos have been on up to this point and be done in a couple of months, but I have my doubts, my bets would put it more into the 6 month to 2 year time frame before the dust all settles. I think a lot of coins, exchanges, investors and miners are going to leave the market in pretty short order. I personally plan on trying to weather this storm, because I believe cryptos have a place in the world's future and maybe a very prominent place in the end. One thing I forgot to mention, there is a lot of very big money sitting on the outside that doesn't want to see cryptos succeed at all, because they have vested interests of their own for not wanting them to succeed.
I suppose some of this could be blamed on too many miners getting into the game and thereby encouraging the production of all the new altcoins, but it really all comes down to money. People believed they saw a way to make a dollar and they jumped on it. The problem we have at the moment is too many piranhas trying to eat too few dollars. The market has outgrown the investment in terms of the number of coins. The more you divide a dollar by ever increasing number of coins means that each coin gets an ever decreasing piece of the dollar. That's the cause of the crash we're about to see.