Topic: Altcoiners, don't give up yet. Bitcoin can't do it alone. - page 4. (Read 1053 times)

Actually, there is a chance Bitcoin dominance rate will reach 90%+ and the most altcoins capitalizations will drop significantly, but it is rather unlikely scenario, so if you believe in altcoins from your portfolio, it is okay to hold them.

In the market, there must be various coins. If the market only there is Bitcoin I think it will not run. Bitcoin needs an Altcoin because if there is no competition, the market conditions that I think will be empty.

Well there is surely the tendency of having the altcoin market increasing in the future but only sold projects with working products would rise after this fall. Hence the reason why you have to do a good research about the projects you are investing into so as to not lose your funds. Most of the ICOs that were launched have failed and team members have abandoned their projects.

Bitcoin is what it is now thanks to altcoins, a lot, lot of people join to crypto thanks to altcoins like Doge, and that since years ago.

Just imagine a nocoiner trying to send bitcoin to a wrong address, or made a mistake writing the amount to send like a fee instead.

A nocoiner trying to upgrade his bitcoin wallet without backup up his wallet dat file.

Nocoiners need altcoins to learn about crypto and how to send transactions without fear, altcoins are necessary to practice.

Also the point on just telling a nocoiner to invest +8,000 usd to buy only 1 bitcoin, nobody likes to have .01 or .001, 8k usd is a lot of money for most people around the world

Global population distribution by income
15% are totally Poor   
56% survive with Low income   
13% are Middle class
9%  Upper-middle class   
7%  Highest income

Forget about Poor and Low income people, the income for middle class is around 50-60k usd per year, we really think they can spend 8k usd to buy a single bitcoin

Thats leave only 15% of world people able to invest in 1 bitcoin.

But thanks to altcoins around 29% of world can afford to buy 1 ethereum or 1 litecoin

Thanks to alcoins 85% of world can afford to buy 1 Ripple or 1 Doge

Altcoins are necessary for Bitcoin to survive.

Actually, there is a chance Bitcoin dominance rate will reach 90%+ and the most altcoins capitalizations will drop significantly, but it is rather unlikely scenario, so if you believe in altcoins from your portfolio, it is okay to hold them.

The major problem here is bitcoin market dominance is at around 67% while the entire altcoins have 33% of the cryptocurrency market capitalization. that shows Bitcoin is on the bull run while altcoins are on the bear market. So the best thing to do is move to bitcoin where people are making profits.

I agree that Bitcoin cannot do alone, however its sharp moves make alts dead nowadays. When I see an increase in BTC, I just stop trading because it makes alts collaps, when I see a decrease in BTC, it still makes alts collapse. It needs to be a bit less volatile and go sideways. If alts do not survive, this crypto market makes no sense to us.

The altcoin industry have lost some big percentage of patronizers due to the poor performance of the market in the recent months, this have cause so many enthusiasts to lose interest in altcoins in general thinking the cryptocurrency industry can do with them. There's no denied the industry can do without most of the present altcoins but cryptocurrency can't can't survive without altcoins been present in general. No disrespect to Bitcoin as it started the journey but the industry have grown beyond bitcoin.

The achievement and development ethereum as a blockchain has contributed for the industry, if the industry had just bitcoin it wouldn't had recorded such developments. We can't do without altcoins, they have become a part of the industry. The sooner we realized that  the better the industry become. Don't misunderstand this post, I'm not advising against investing in bitcoin or encouraging investing in the present altcoins although, all I'm trying to say is, if you think the altcoin industry is going into exile, think again.

The altcoin industry is only going through a phase which won't kill it and as what doesn't kill you only make you stronger, the altcoin market will come out stronger as the good will be separated from the bad projects although bitcoin will always be a household name. Invests wisely and don't forget the best of the best altcoins are yet to be developed, the current ones I consider them to be just test dummies, preparing the way for future altcoins.

What's your take on this, do you think the industry can survive without altcoins that's just bitcoin been the only currency in the space.