Topic: Bitcoin can't survive alone - page 12. (Read 4179 times)
In my opinion, one factor that keeps Bitcoin moving forward is that many people are interested in Bitcoin. because bitcoin has a good concept and a limited supply of pliers. so people can use Bitcoin as a medium of exchange that replaces virtual currencies. Moreover, the system built makes it easy for people to make buying and selling transactions via bitcoin.
Over 850 millions of people use alipay as means of payment mostly in china and i heard lots about wepay as well, i come to think of it that what if bitcoin was been used in their places instead? if alipay and wepay can get to where they are today then altcoins have all the chances of survival as well. Wepay and Alipay are just online payment solution, crypto can do better.
as far as I know, China prioritizes the use of technology originating from its country rather than using technology originating from outside their country. that is an absolute thing. In fact, I heard that 80% of Chinese people use Baidu compared to Google.Baidu vs Google
in the case of alipay and wepay, it is very difficult for China to replace it with bitcoin. In fact, China is also currently developing its own cryptpcurrency which can even compete with Libra. Even the Chinese PBOC said it was "close" to being released
China's PBOC about cryptocurrency
Over 850 millions of people use alipay as means of payment mostly in china and i heard lots about wepay as well, i come to think of it that what if bitcoin was been used in their places instead? if alipay and wepay can get to where they are today then altcoins have all the chances of survival as well. Wepay and Alipay are just online payment solution, crypto can do better.
Real use cases plus real life working products, let these two be your main focus when picking altcoins to invest your money on, do not listen to those saying 'dump altcoins for bitcoin' when you are holding solid altcoins
I partially agreed in your statement. There are some altcoins that way better than bitcoin but bitcoin is the most famous cryptocurrency and people uses bitcoin because it is pure-decentralized and thats the problem of most altcoins. They are centralized in some ways and given that bitcoin itself have a fair distribution unlike other altcoins that have premine. Real use cases plus real life working products, let these two be your main focus when picking altcoins to invest your money on, do not listen to those saying 'dump altcoins for bitcoin' when you are holding solid altcoins
That is true. Altcoins with real usage usually have much value and are not to be dumped just like that. Sometimes people are afraid to hold some altcoins for long because of the fact that they can get dumped so hard up to even -50% within 24hours.
But so far, it is difficult to find the altcoin with real usage, and all coins can be a payment so far. But the merchant still prefers to use bitcoin, bch, ethereum, or litecoin to pay the transaction. We need to support bitcoin and altcoin, and bitcoin cannot survive alone. Bitcoin and altcoin is bond in the cryptocurrency and if the altcoin does not exist, then bitcoin will difficult to grow. Yes, I agree that crypto can do better. But the problem is people still prefer to use the existing payment and only some people who are willing to accept cryptocurrency as the payment.
That is true. Altcoins with real usage usually have much value and are not to be dumped just like that. Sometimes people are afraid to hold some altcoins for long because of the fact that they can get dumped so hard up to even -50% within 24hours.
Well, I don't think so because if we check the history bitcoin is all alone before and still manages to survive and I know that even now if bitcoin alone can still survive but it's not gonna happen anymore. Because there are a lot of coins now you can have a lot to choose you surviving alone will not gonna happen this time. For example in trading pairs, there should an altcoin going to pair with bitcoin that can make transaction when buying altcoins using bitcoin.
The altcoins help the crypto ecosystem for the cheaper transactions and for faster payments. Bitcoin alone is not supposed to be a worldwide payment gateway if there are enough altcoin aka alternative cryptocurrencies which solve the recent problems of the traditional payment systems. Let's take a Ripple project as an example, their team agreed with the giant companies for speeding up the transactions with the advantages of the blockchain technology.
Crypto space needs altcoins, especially with BTCs biggest problem - transaction speed and costs. A bunch of altcoins can provide a more secured, cheap and fast way of transferring your money from point A to point B.
Over 850 millions of people use alipay as means of payment mostly in china and i heard lots about wepay as well, i come to think of it that what if bitcoin was been used in their places instead? if alipay and wepay can get to where they are today then altcoins have all the chances of survival as well. Wepay and Alipay are just online payment solution, crypto can do better.
Real use cases plus real life working products, let these two be your main focus when picking altcoins to invest your money on, do not listen to those saying 'dump altcoins for bitcoin' when you are holding solid altcoins
Real use cases plus real life working products, let these two be your main focus when picking altcoins to invest your money on, do not listen to those saying 'dump altcoins for bitcoin' when you are holding solid altcoins
Wepay or Alipay is different from bitcoin or other cryptocurrency because basically Alipay or Wepay is fiat money in digital form. I think bitcoin is difficult to be used as a payment instrument to replace fiat money due to regulatory constraints but as a digital asset, I think the opportunity for bitcoin is huge.
Bitcoin is the first cryptocurrency and after a few years it still manage to be the first cryptocurrency in overall market and I think that is enough to say that bitcoin can survive alone without the help of the other cryptocurrency because it is the other cryptocurrency that cannot survive alone with bitcoin because without bitcoin, the market will be in chaos since there is no primary basis for their trading prices.
of course bitcoin can survive on its own because bitcoin is a technology that works when there is demand means that bitcoin can still survive it's just that the value or price may be reduced and will become very cheap when there is no demand anymore.
Over 850 millions of people use alipay as means of payment mostly in china and i heard lots about wepay as well, i come to think of it that what if bitcoin was been used in their places instead? if alipay and wepay can get to where they are today then altcoins have all the chances of survival as well. Wepay and Alipay are just online payment solution, crypto can do better.
Real use cases plus real life working products, let these two be your main focus when picking altcoins to invest your money on, do not listen to those saying 'dump altcoins for bitcoin' when you are holding solid altcoins
Real use cases plus real life working products, let these two be your main focus when picking altcoins to invest your money on, do not listen to those saying 'dump altcoins for bitcoin' when you are holding solid altcoins
Yes you are right but they have to reconsider also different aspects before they will move to bitcoin payment. I am sure Wepay, Alipay and other services out there, they are plenty of problems that they are going to face before they will accept bitcoin.
Like the volatility of bitcoin price, I am pretty sure that they are worried about it especially if they cannot bear the price fall of any currencies that they like to use. But if they can take the risk then it will surely help the bitcoin to become more successful in history.
its not that bitcoin can't survive alone
bitcoin can do...
people are the ones who wont survive without altcoins...
for many reasons
bitcoin can do...
people are the ones who wont survive without altcoins...
for many reasons
Lol, Bitcoin without altcoin? How could you imagine a "king" without his "subjects"? Bitcoin had been spreading faster because of altcoins. These altcoin caters demand to Bitcoin because people who are interested in altcoin that have Altcoin / BTC pair only need to buy BTC in order to get that altcoin. It simply gives demand to Bitcoin.
And FYI, people can survive even without Bitcoin what more without altcoin.
I would not be surprised if in 5 years in China will start working system Bitpay for example. it will not reach the rest of the world soon, but in China and large developed countries it will soon. about Russia silent it will be the last to accept cryptocurrency
I think BTC can exist alone in this market. But without altcoin, this market will be very boring and hard to make money when investing
I have to admit that this argument is very funny. The OP want to say that Bitcoin needs help from the copycats to survive. In my opinion, it is the other way around. Bitcoin can survive without the help from altcoins, but altcoins will not be able to survive without Bitcoin. But still, for a healthy market, we need some competition from the competing currencies.
Who knows, maybe Bitcoin could survive alone in the cryptocurrency sphere, but we certainly won’t find out, but even for all ten years we see that the demand for Bitcoin is very huge and would be even greater if there were no altcoins, so Bitcoin always was the king of cryptocurrencies and will be, but altcoins are already the second grade of cryptocurrencies and most, of course, are interested in Bitcoin.
its not that bitcoin can't survive alone
bitcoin can do...
people are the ones who wont survive without altcoins...
for many reasons
What? bitcoin lacks in some areas like transaction speed and fees, altcoins are built to fix those problems, if any company wants to implement any existing coin they will be forced to choose altcoin over bitcoin because of these features, i think bitcoin still can't do without altcoin bitcoin can do...
people are the ones who wont survive without altcoins...
for many reasons
i think that Bitcoin has survived the test of time so even if there are other cryptocurrencies bitcoin can strive in the cryptocurrency world.Bitcoin is cryptocurrency but cryptocurrency is not Bitcoin. There are thousands of cryptocurrencies across the internet but Bitcoin is easily the most important and it drives the market.
I've heard of lots of alternatives that are trying to compete with bitcoin but the problem I usually see is that bitcoin has the history behind it and the first mover advantage so it is hard for new technology to really compete. Plus you have stuff like lightning network for the medium of exchange aspect of bitcoin. I guess there are weaknesses in the POW algorithm due to miner concentration but I think if that really gets to be a serious enough issue then it might be possible to fork the chain to some sort of different method. That's the beauty of bitcoin, it is democratic and can be modified as needed going forward. The vast majority of the community is focused on maintaining the unique aspects of bitcoin which make it valuable. Bitcoin is the father of great technology and will be forever the main standard in Blockchain and Crypto trading.
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