Topic: Altcoiners, don't give up yet. Bitcoin can't do it alone. - page 6. (Read 1053 times)
In our digital time, it is difficult to imagine life without cryptocurrency, it gives me a lot of things, from earning to buying on the Internet, but this is not enough, many companies need smart contracts and the blockchain as a whole.
Indeed, only bitcoin cannot cope in the crypto industry, bitcoin cannot provide the world with everything that altcoins provide. Altcoins in essence improve our lives, make it easier, one bitcoin cannot cope ...
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.
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.
It seems that when altcoins are lost in this industry bitcoin will have a hard time raising its price value. Bitcoin and Altcoin are helping each other and we can't deny that because of the altcoins the name of Bitcoin breaks. Because of that, many in different parts of the world or countries are well aware of bitcoin and the countless lives of the Bitcoin and altcoin industries have changed countless times and this is the truth most of them know.
As far as I am concerned, we really only need around 2-3 cryptocurrencies of the following five types;
1. Pure cryptocurrencies, e.g. Bitcoin, Litecoin and BCH
2. Stablecoins, e.g. Tether, Circle and Libra
3. Smart contract coins, e.g. ETH, TRON and EOS
4. Privacy coins, e.g. Monero, BTCP and ZEC
5. Corporate liquidity tokens, e.g. Ripple and Stellar.
Overall, that means there should be around 15 cryptocurrencies. Can anybody convince me otherwise?
1. Pure cryptocurrencies, e.g. Bitcoin, Litecoin and BCH
2. Stablecoins, e.g. Tether, Circle and Libra
3. Smart contract coins, e.g. ETH, TRON and EOS
4. Privacy coins, e.g. Monero, BTCP and ZEC
5. Corporate liquidity tokens, e.g. Ripple and Stellar.
Overall, that means there should be around 15 cryptocurrencies. Can anybody convince me otherwise?
Very difficult to put it any better than this. We can expand this list a bit and add another 5 categories to take the total number of categories to 10. 3 cryptos per category would mean a total of 30 different coins. And right now we have more than 10,000. IMO, sooner or later, we'll be witnessing a major consolidation in the altcoin market and many of the smaller coins are going to vanish.
I think no. Crypto world did not survive if there is only bitcoin and without other coin. Because all we see the that the current value of bitcoin are continue to fall. And for the altcoin investors I think this is the time that all of you waiting for because based from history when bitcoin will fall this is the right time for altcoin so have more patience.
I really liked this thread @OP, I think this is genuine concern. Altcoins are truely the backbone of crypto industry. You can't expect everything from Bitcoin. It is first cryptocurrency but surely not the best one in terms of specification. Other cryptocurrencies like ETH, Tron, LISK, EOS provide comparatively much better blockchain to create DApps. And we surely don't want new altcoins stop coming. This market is still new and there is much more scope of improvement.
Altcoin actually sucks the value out of Bitcoin, but it happened because of so many things, e.g., trilemma, low utility, speculative mentality, fees, etc.
Regarding your question about "do you think the industry can survive without altcoins." Nope, the cryptocurrency industry is based on what? Trading (P&D) in exchanges and gambling. How many traders deposit/withdraw their fund in BTC? I think not many. The retail one (like us lol) would prefer altcoins (like XLM) for cheaper and faster transaction.
Regarding your question about "do you think the industry can survive without altcoins." Nope, the cryptocurrency industry is based on what? Trading (P&D) in exchanges and gambling. How many traders deposit/withdraw their fund in BTC? I think not many. The retail one (like us lol) would prefer altcoins (like XLM) for cheaper and faster transaction.
I agree that not all altcoins are bad. Altcoin's performance which has plummeted at this time could have been because investors prefer bitcoin as a safe haven due to uncertain global economic conditions. Investors might not be dependent solely on bitcoin because investors would think it is too risky to only hold one portfolio.
Altcoin actually sucks the value out of Bitcoin, but it happened because of so many things, e.g., trilemma, low utility, speculative mentality, fees, etc.
Regarding your question about "do you think the industry can survive without altcoins." Nope, the cryptocurrency industry is based on what? Trading (P&D) in exchanges and gambling. How many traders deposit/withdraw their fund in BTC? I think not many. The retail one (like us lol) would prefer altcoins (like XLM) for cheaper and faster transaction.
Regarding your question about "do you think the industry can survive without altcoins." Nope, the cryptocurrency industry is based on what? Trading (P&D) in exchanges and gambling. How many traders deposit/withdraw their fund in BTC? I think not many. The retail one (like us lol) would prefer altcoins (like XLM) for cheaper and faster transaction.
Bitcoin isn't only digital currency in cryptocurrency world. As old and exoteric coin, Bitcoin is the most valuable coin in cryptocurrency. From this list coin of Coinmarketcap, only some coin will survive then this coin profits is more than any top coin. Because of rumors don't give up your favorite coin.
well, maybe you are right about all your words in bitcoin
but remember altcoin help bitcoin to grow higher from the past,
because when somebody created an altcoin, they will mentioned bitcoin as the first decentralized cryptocurrency mate
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.
The industry will not survive without altcoins, because they push it forward, if there will be only one bitcoin, then the development will stop. 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.
I give more credence to altcoins that grow organically and not pump and dump altcoins. Such pumps and duo's quickly dies and those are the bad eggs among others. If the best will be lunched, it means it must also grow organically.
The question the is, are we really ready for this?
A lot of investors prefer the pump and dump, which is why we will not stop seeing shit coins and they will continue to lunch.
The question the is, are we really ready for this?
A lot of investors prefer the pump and dump, which is why we will not stop seeing shit coins and they will continue to lunch.
I think that in the future it will be so. we will not need altcoins in 10-15-20 years, but now the market is not ready yet to leave the only bitcoin. everything that happens with prices is just a classic market manipulation
Altcoins innovation was a very impressive one, the cryptocurrency technology that is open wide area of acceptability on different platforms. We have seen used case at different aspect of life that bitcoin cant. Bitcoin success is beyond any governance but they have largest numbers of maxilmalists with huge fund to push it around. Scam also cause the loss of confidence in altcoins, while most teams involved in scam are on the run 
We need both altcoins and bitcoin to make the crypto market. Currently, due to the large market capitalization of BTC, the price of Altcoins still depends too much on BTC, causing the price of Altcoins to be highly volatile whenever BTC price fluctuates. In the future, when the inflows come to Alts, the Alt market will no longer depend on BTC as at present.
this is actually just a matter of demand from the market. when the market is still showing the demand for altcoin then they will survive, as well as bitcoin. the principle of their market that is sought after and desired by the market will surely get more attention from the public.altcoin conditions will not continue like this, altcoin season will occur. it's just a matter of time that hasn't come yet. be patient and keep waiting with attention to market movements.
It's truly a matter of market demand. If there's a continuous need for altcoins, they will remain prevalent but I am not sure most of these cryptos will be around for long so I will be looking forward to seeing major altcoins offering smart contract services, privacy and stable coins becoming the foundation of contemporary crypto market
As far as I am concerned, we really only need around 2-3 cryptocurrencies of the following five types;
1. Pure cryptocurrencies, e.g. Bitcoin, Litecoin and BCH
2. Stablecoins, e.g. Tether, Circle and Libra
3. Smart contract coins, e.g. ETH, TRON and EOS
4. Privacy coins, e.g. Monero, BTCP and ZEC
5. Corporate liquidity tokens, e.g. Ripple and Stellar.
Overall, that means there should be around 15 cryptocurrencies. Can anybody convince me otherwise?
Competition brings out the best on every participants, I am into giving every developer a chance to showcase what they got to overcome other competitors. More options, more choices and possible development will be available. At the end of the day, it is the investors and supporters who will decide what is best for them. Though I am not trying to convince you, it is just my POV.
Altcoin had been one of the pillars that supports the Bitcoin market. Most of its campaigns leads to the advertisement of Bitcoin since most of altcoins are paired with BTC on the market. Imagine a cryptocurrency with just Bitcoin in it? Investors often looks for variation to take advantage of the trading system. Though some is ok with fiat currency to BTC trades but we all know many of the community that get involved in cryptocurrency prefers cryptocurrency trades to escape financial institution's grasp.
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.
yeah i agree with your point. I believe that the altcoins market will thrive in the future. Because the projects behind those altcoins are very potential. Those projects will be very useful in the future. So, I think altcoins will thrive and become indispensable for the crypto market in the future 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.
I was just going through the comments again then realized I haven't replied to this post. You're right, feels like the market capitalization move opposite to bitcoin dominance Irrespective of bitcoin gaining some price value. When the dominance is high, total market capitalization of the industry reduces. That simply means Investors are taking money out of the market which proven my point once again that the industry can't survive without altcoins. Not just because of the utilities they contribute to the industry but also because of the wealth (inflow of money) they bring into the industry.
In my opinion, BTC maximalists are just hawking their viewpoints because either they have a weird notion of how the marketplace works or are just looking for a short term gain. To them, BTC is all that is needed, and every other coin is a 'shitcoin'.
Which is a totally weird way to look at it. I agree, BTC probably wouldn't survive without altcoins, at least not as we know it currently. Where would volume come from? Where would crypto innovation? Or real world use (which admittedly even alts haven't done much of yet, but they tend to serve different functions than BTC)? Or hype?
BTC is compared to digital gold, and that probably will be its eventual function. But has anyone here looked at gold as an actual investment? It doesn't tend to do the crazy parabolic hike thing, nor is there much hype outside of survivalists and late night infomercials over gold. So it's not exactly a world changing thing if btc becomes 'digital gold'. Yes, it serves a purpose, but it's not something folks will get overly hyped about.
And as a currency BTC is kind of like using the worst debit card ever devised by man. Tons of alts would make better currencies than BTC.
So to those who feel BTCs should be king and that's it, alts not needed, I think either they are deluded or are looking for a short term spike and exit strategy.
I do not think the crypto market will survive only on bitcoin without altcoins. Bitcoin and altcoins are two parts of a coin. So they cannot survive without each other. But seeing the market situation where only bitcoin is taking off, I am forced to believe that altcoin season will never come. It may be my illusion I wish.
l would really like to point out, by and large, l can not imagine altcoins without BTC or BTC without altcoins. It is a something chain reaction, in the crypto industry, there are two parts, BTC and altcoins. But l don't agree with your speculation and we must believe it that, altcoin season will come, it is my candid advice. It is not an illusion, it is highly likely that it will happen. Don't worry about it, a bit more patient. It seems it will take heaps of time. legendary
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Straight to the cheese - of course, only Bitcoin can't keep the crypto industry going. This is evident in the way the market is, even right now. With Bitcoin dominance up to 67-70% yet the total marketcap is still below $300b. We saw how Bitcoin's dominance was depleted to around 40% in 2017 and how the market skyrocketed with most of the coins hitting ATH. Though Bitcoin is the pathfinder and leader here, it needs the altcoins to proper the market to greater heights.
I was just going through the comments again then realized I haven't replied to this post. You're right, feels like the market capitalization move opposite to bitcoin dominance Irrespective of bitcoin gaining some price value. When the dominance is high, total market capitalization of the industry reduces. That simply means Investors are taking money out of the market which proven my point once again that the industry can't survive without altcoins. Not just because of the utilities they contribute to the industry but also because of the wealth (inflow of money) they bring into the industry.
Exactly what many disagreed with that, Bitcoin can't live alone without the presence of altcoins, altcoins are the taxis on the high way of Bitcoin and will ride along with Bitcoin. Most investor are disappointed in some improper projects which they were scammed and stick to Bitcoin that they have known. My reason to come back into altcoins domain in 2019 was my investment in altcoins late 2018 MB8, this investment gave me hope for the future of altcoins. Bitcoin cannot do this alone, and must go along with altcoins, so, don't give up on altcoins.
Yes, I agree with you that bitcoin cannot do it alone, and it is because bitcoin felt fiat cannot do it alone, that it came as an alternative to the fiat system, and this is how altcoins are also supposed to be an alternative, we can see how both fiat and bitcoin are functioning together to give a better financial transactions, but altcoins have failed us all in their own part.
We understand that we need some alternatives to bitcoin, but not in such a way that every project wants to establish a coin. if we need altcoins to assist bitcoin in its vision, I must confess to you that we really don't need more than 10 altcoins, same as we don’t even need more than 10 exchanges in the market, but you see majority of shitcoins and shit exchanges flooding the market because they are all after the money and not the help they want to render to bitcoin, so tell me why people would not give up on altcoins?
The percentage of shit projects is undeniable being higher than those who have good usage to work together with bitcoin, developers who envisions the realizations of their created projects and not stopping after listing inside the exchange. Those teams who have a broader knowledge with how the system works and how it will be usable to work along with bitcoin. There are projects that can move forward without relying with bitcoin, it's the product that being offered makes the project to continue and survive then achieved its goal inside this industry. We understand that we need some alternatives to bitcoin, but not in such a way that every project wants to establish a coin. if we need altcoins to assist bitcoin in its vision, I must confess to you that we really don't need more than 10 altcoins, same as we don’t even need more than 10 exchanges in the market, but you see majority of shitcoins and shit exchanges flooding the market because they are all after the money and not the help they want to render to bitcoin, so tell me why people would not give up on altcoins?
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