Hello everyone, I made my first post
here and the words of advice were really touching(maybe it's because I am weak-hearted) and encouraging. Thank you all for making me feel at home.
Now back to my question. My thoughts were that alternative(Alt) coins were created by organizations or developers to serve as a digital currency for their product or service, or improve on the shortcomings of their parent coin. I believed an alt coin with a real purpose was here to stay like Bitcoin.
An altcoin with a real purpose may be here to stay like Bitcoin but it can never be like Bitcoin and if you must invest in an altcoin even if it's an altcoin with a real purpose if the project team is not the project's number one enthusiast don't invest in it.
1. What will happen to alt coins when Bitcoin becomes a legal tender? Will they have a massive growth,or would people sell and jump into Bitcoin?
There huge possibility for some altcoins to experience a massive pump in price if Bitcoin is legal tender but not all altcoin though.
2. What would happen to alt coins when Bitcoin becomes relatively stable( when it is fully mined and will solve its problem of price volatility)? Will alt coins survive the test of time? Will new alt coins be created later? What would become of the various countries'currencies, especially the Dollar (the global reserve currency) after Bitcoin's general acceptance?
Bitcoin doesn't rely upon any altcoin and it's the altcoin that relies on the trend of Bitcoin to determine there next momentum. Bitcoin will never be generally accepted and won't be legal tender either due to some government political practice and understanding. However, if BTC is fully mined some reputable altcoins will get more traffic.
3. If alt coins survive in the next century what is the reason it would.
The altcoin that will survive will the next century will be altcoins that solve some drawbacks in crypto and also have vast utility with use case.
4. Should alt coins be traded rather than HODL?
Altcoin can be traded and hodl but be sure of the altcoin will be relevant in the market for at least in the next 4years of market