Are altcoins the future of cryptocurrency?

bitcon

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Quote from: flashmark on February 04, 2018, 11:52:15 AM

Yes. Now BTC dominance is around 30%. If you remember it was more than 50% last December. Traders selling BTC to but Altcoins beacuse it seems more profitable.

I also think that exactly altcoins will be used on the cryptomarket for dozens or years and maybe longer. I suppose BTC will be not valued so high as now. Suppose, Ethereum, NEO and EOS can rule the situation in future.

Haunebu

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www.Crypto.Games: Multiple coins, multiple games

According to me, the future of cryptocurrency is bitcoin and popular altcoins(Ethereum etc) also play a crucial role in shaping the future of the crypto market. As the popularity of Bitcoin keeps rising, more investors will start investing in Bitcoin and altcoins which will drive the Crypto market to a whole new plateau. Based on the supply and demand logic, Bitcoin's value will continue to rise making it more and more valuable which is why I consider it to be the future of the cryptocurrency world while the popular altcoins will also rise in value with time.

sunX3

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Quote from: mmfiore on February 04, 2018, 12:09:50 PM

Bitcoin is like what gold used to be.

Like it or not we're stuck with it for a while.

Altho, history proved us that thoses things are not for ever Tongue

.

On the other hand (as said above), bitcoin will probably have a lower and lower % of the cyptoworld as more and more altcoins are created and used.

At this point, btc is so popular it's almost equivalent to cryptocurrency in general to the public. For better or worse, it's gonna be around for some time.

realsmans

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Transforming the Global Shipping Industry

Quote from: tokenwiki on January 24, 2018, 02:37:20 PM

If you look at Coinmarketcap figures, there is a steady secular drop in bitcoin market cap as opposed to alt coins. Ether which was the main contender seems to have plateaued. There is a steady rise in other altcoin dominance.

https://coinmarketcap.com/charts/
Now total market capitalization peaked at 800 billion sometime in Jan. This has dropped to approx 500 billion since. In December Bitcoin briefly reached 60 percent in market dominance. I think it was due to the influx of new players who joined due to the hype.After a quick drop we are seeing Bitcoin drop to around 34 percent of the market. Now the question is whether this will further drop. If it will drop who will be the new contenders. In all likelihood we will have a slew of new small currencies replacing the giant Bitcoin, each with a market cap of around 3- 4 percent. But that will mean that Ether and perhaps Ripple will be less important. I am not saying the price of either will go down, but that they will be less dominant in the whole market.

Any coin can change the top currencies, but would they? I can't tell anything about bitcoin, but coin such a ethereum and ripple, has build their framework for pretty long time, and shows stabile growth (if not counting pump in Dec-Jan 2018). So if some project will be so useful and powerful as those guys, it will bit them, but you can't know and can't tell for sure.

FrueGreads

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Right now I don't really think that will happen. Every time there is a big drop in the bitcoin price, there is also a big drop in the altcoins as well. Sometimes alts get hurt quite heavily, when you compared them to bitcoin. We saw bitcoin dominance go as low as 33% I think, and now during this big crash, we are seeing it recover (it's at 35% by the time I made this post). The only coin I see that could switch place with bitcoin is Ethererum, and if that happens it will probably occur once the market recovers, and not while it's on a down trend.

talkbitcoin

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All I know is that I know nothing.

yes eventually there will be some great innovation in cryptocurrencies which will make bitcoin obsolete but that will not happen for at least another 20 years.

all the current altcoins so far are copy past of 3 or 4 main projects and these projects are not so different or revolutionary innovative to be able to take the future of crytpcurrency from bitcoin which is the leading cryptocurrency with a huge distance from the rest of them.

Casmania

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Quote from: Brothersav on February 05, 2018, 05:55:23 AM

Quote from: tokenwiki on January 24, 2018, 02:37:20 PM

If you look at Coinmarketcap figures, there is a steady secular drop in bitcoin market cap as opposed to alt coins. Ether which was the main contender seems to have plateaued. There is a steady rise in other altcoin dominance.

https://coinmarketcap.com/charts/
Now total market capitalization peaked at 800 billion sometime in Jan. This has dropped to approx 500 billion since. In December Bitcoin briefly reached 60 percent in market dominance. I think it was due to the influx of new players who joined due to the hype.After a quick drop we are seeing Bitcoin drop to around 34 percent of the market. Now the question is whether this will further drop. If it will drop who will be the new contenders. In all likelihood we will have a slew of new small currencies replacing the giant Bitcoin, each with a market cap of around 3- 4 percent. But that will mean that Ether and perhaps Ripple will be less important. I am not saying the price of either will go down, but that they will be less dominant in the whole market.

Well if the coin actually has a use, then ofcourse. Unfortunately BTC is kind and is paired with everything. There will eventually be a new contender- just pick the right one! I'll hedge with quantum computing coins.

I guess there could be a possibility that altcoin can be considered as the future currency in the future but most likely it will take a longer time to replace BTC for now. As we all know, BTC has been there for almost 9 years in achieving it's highest growth rate ever in the history of the cryptocurrency market and for that alone, altcoins would also have the same trend as BTC had undergone since it started. The probable altcoin that might replace BTC in the future is definitely Ethereum as this has a good potential and good performance in the market today.

Thyaga

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Merit: 250

Quote from: tokenwiki on January 24, 2018, 02:37:20 PM

If you look at Coinmarketcap figures, there is a steady secular drop in bitcoin market cap as opposed to alt coins. Ether which was the main contender seems to have plateaued. There is a steady rise in other altcoin dominance.

https://coinmarketcap.com/charts/
Now total market capitalization peaked at 800 billion sometime in Jan. This has dropped to approx 500 billion since. In December Bitcoin briefly reached 60 percent in market dominance. I think it was due to the influx of new players who joined due to the hype.After a quick drop we are seeing Bitcoin drop to around 34 percent of the market. Now the question is whether this will further drop. If it will drop who will be the new contenders. In all likelihood we will have a slew of new small currencies replacing the giant Bitcoin, each with a market cap of around 3- 4 percent. But that will mean that Ether and perhaps Ripple will be less important. I am not saying the price of either will go down, but that they will be less dominant in the whole market.

I am curious if one day market cap from Bitcoin followed by Ethereum, what is the effect of it on the world of crypto currency
sorry for oot.

imjustp

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Activity: 256

Merit: 102

Majoritively, yes, altcoins are the future. They are the coins which are making the new tech and utilising blockchain. BTC is simply the founding father, the one who made it all possible. That's not to say it wont be valuable.

Brothersav

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Activity: 182

Merit: 10

Quote from: tokenwiki on January 24, 2018, 02:37:20 PM

If you look at Coinmarketcap figures, there is a steady secular drop in bitcoin market cap as opposed to alt coins. Ether which was the main contender seems to have plateaued. There is a steady rise in other altcoin dominance.

https://coinmarketcap.com/charts/
Now total market capitalization peaked at 800 billion sometime in Jan. This has dropped to approx 500 billion since. In December Bitcoin briefly reached 60 percent in market dominance. I think it was due to the influx of new players who joined due to the hype.After a quick drop we are seeing Bitcoin drop to around 34 percent of the market. Now the question is whether this will further drop. If it will drop who will be the new contenders. In all likelihood we will have a slew of new small currencies replacing the giant Bitcoin, each with a market cap of around 3- 4 percent. But that will mean that Ether and perhaps Ripple will be less important. I am not saying the price of either will go down, but that they will be less dominant in the whole market.

Well if the coin actually has a use, then ofcourse. Unfortunately BTC is kind and is paired with everything. There will eventually be a new contender- just pick the right one! I'll hedge with quantum computing coins.

Endikadija

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Quote from: tokenwiki on January 24, 2018, 02:37:20 PM

If you look at Coinmarketcap figures, there is a steady secular drop in bitcoin market cap as opposed to alt coins. Ether which was the main contender seems to have plateaued. There is a steady rise in other altcoin dominance.

https://coinmarketcap.com/charts/
Now total market capitalization peaked at 800 billion sometime in Jan. This has dropped to approx 500 billion since. In December Bitcoin briefly reached 60 percent in market dominance. I think it was due to the influx of new players who joined due to the hype.After a quick drop we are seeing Bitcoin drop to around 34 percent of the market. Now the question is whether this will further drop. If it will drop who will be the new contenders. In all likelihood we will have a slew of new small currencies replacing the giant Bitcoin, each with a market cap of around 3- 4 percent. But that will mean that Ether and perhaps Ripple will be less important. I am not saying the price of either will go down, but that they will be less dominant in the whole market.

More and more people are interested to create their own platform with only a better on its scalability rather than ethereum and bitcoin. But i don't care about their scalability but i just try to see what was the development progress and future roadmap.

Bitcoin domination has been eating by small cryptocurrency. This will still continue. As long as bitcoin can grow more and more and there would be no problem with it.

wayaneka

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I think yes because many altcoin give many advantages more than Bitcoin and also many altcoin promising bigger return than Bitcoin. In the future altcoin like Ethereum can be bigger than Bitcoin. And this down trend now just temporary and will be back to normal again in a few month so just wait patient for that.

Trimegistus

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Quote from: whirlcoin on February 05, 2018, 03:31:55 AM

Altcoins are also the part of the future of cryotocurrency but without bitcoin I think the cryotocurrency market will fall totally, because bitcoin was considered as the king of the cryotocurrency so the king need to be dominant always or else the kingdom will fail totally.But all the prices are falling down not only the bitcoin so the dominance will increase again when the price starts to recover.

That will depend on how BTC will evolve in the future. If the devs don't react to correct all the problems like slow transactions, altcoins will have a real chance to thrive because many have better specs.

On the other hand, if BTC evolves too much one might even argue that BTC itself will be an altcoin when compared to the original Nakamoto's code.

So yes, altcoins are indeed the future!

whirlcoin

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Altcoins are also the part of the future of cryotocurrency but without bitcoin I think the cryotocurrency market will fall totally, because bitcoin was considered as the king of the cryotocurrency so the king need to be dominant always or else the kingdom will fail totally.But all the prices are falling down not only the bitcoin so the dominance will increase again when the price starts to recover.

mpufatzis

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Cryptos were invented to substitute fiat money. This was their original purpose, not trading them in exchanges.
Today there are thousands of them in the exchanges but only a few of them can be used to buy a coffee or a sandwich.
In my opinion, when someday in the future the prices of the cryptos will be more stable, and high fees won't be an issue anymore the cryptos that will rule will be those that could be used in our daily shopping.

Zackgeno96

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Quote from: tokenwiki on January 24, 2018, 02:37:20 PM

If you look at Coinmarketcap figures, there is a steady secular drop in bitcoin market cap as opposed to alt coins.

People liquidated their holdings due to recent negative news around the bitcoins. At the moment, there is comparatively less demand for the bitcoins as people don't want to risk their money. Some of these people and new investors are shifted towards the alt-coins as they are providing good amount of profit than bitcoin. This could be one of the reason for steady drop in bitcoin's market cap. I believe this situation will be changed soon and bitcoin will top the market cap as previously.

Quote from: Lerikaweb on February 04, 2018, 11:59:49 AM

There are thousands of different tokens, and 30% is a huuuuuge piece of crypto pie:) it is obvious that people diversity their portfolios, because bitcoin is good for long term deposit. And people tempt to earn here and now, so they go for short term trades.

Yes, those who are looking for the quick profit and don't wish to hold the coins for longer time are investing into the alt-coins. Currently, there has been lot of movement in the alt-coins which generates the opportunities for traders to make the profit.

mmfiore

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Bitcoin is like what gold used to be.

Like it or not we're stuck with it for a while.

Altho, history proved us that thoses things are not for ever Tongue

.

On the other hand (as said above), bitcoin will probably have a lower and lower % of the cyptoworld as more and more altcoins are created and used.

svobodnyi

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I think bitcoin will remain the main crypto currency. Recently conducted hardcoque bitcoin, which reduced the time of transactions and commissions on the network bitcoin, which is a big plus at the moment.
Other crypto currencies will also develop, but it is very unlikely that they will dominate the market.

SKRAAA

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THE THING GO SKRAAA

Bitcoin will gain dominance back. Maybe not 60% but 45 or 50%. Just wait that the price starts increasing again after the New Year/Korea/India FUD and altcoins will not be able to keep up with that growth because people will start selling altcoins to have more BTC.

godless_toast

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its only a matter of time as bitcoin dominance decreases, it's becoming outdated tech anyways and ethereum is the foundation for so many other altcoins. so yes altcoins are definitely the future of crypto though they might not be called "altcoins" for much longer, at least not ethereum. Grin

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