Bitcoin making alts useless - page 17.

pooque

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Quote from: OmegaStarScream on February 10, 2018, 04:19:09 PM

We probably have multiple alts that one could consider as better version of bitcoin but as you're noticing, bitcoin is gaining more popularity and a fast growth. The price is not a measure of a coin success so what I'm referring to here is the the number of ATMs, exchanges, stores, services, and people accepting it.

So even If we have some people using alts currently because they believe they are better then bitcoin (which may be true), bitcoin is evolving and the development is super active and exciting times are coming. I honestly believe that this make alts useless (say, by the end of the year), your thoughts?

Bitcoin's dominance is why these altcoins wont grow like bitcoin,because these big players are holding most of the bitcoins in the market.Surely they wont allow any coin to replace their billion dollar investments easily.If there will be some switch or flippening to happen it will ethereum i bet,but the switching would be not easy because invetor's feelings would be scrumbled that they wont overcome the switch if there will be any.

JohnMacZeppelin

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I think that you can buy any altcoins because if the market still decides to go up, then each coin will have to add 10%, which in the end will affect the overall market capitalization, which should be about a trillion dollars

kier010

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i think the same too. here in my country only bitcoin can be exchange in fiat in our local exchange and no other altcoins despite of their popularity. this just means bitcoin have gain momentum and starting to get more popular. even though altcoins have their own uses they can't outclass bitcoin.

pedropendukot

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Quote from: OmegaStarScream on February 10, 2018, 04:19:09 PM

We probably have multiple alts that one could consider as better version of bitcoin but as you're noticing, bitcoin is gaining more popularity and a fast growth. The price is not a measure of a coin success so what I'm referring to here is the the number of ATMs, exchanges, stores, services, and people accepting it.

So even If we have some people using alts currently because they believe they are better then bitcoin (which may be true), bitcoin is evolving and the development is super active and exciting times are coming. I honestly believe that this make alts useless (say, by the end of the year), your thoughts?

For me altcoins are just temporary investments,these alts can be worthless anytime soon when bitcoin's lightning network is fully implemented,most of these shitcoins that doesnt have any good working product/services wouldnt survive if bitcoin's price surge up to $50k or more because they are measured by satoshi,if bitcoin's price would increase exponentially surely these alts would be worth less than one satoshi.

Victor Beckham

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Quote from: goncalvopietro on February 14, 2018, 09:22:44 AM

Bitcoin will always be the king of the crypto currency world. This will continue for a long time. Altcoins aren't as strong as Bitcoin.

That is true. But Bitcoin is not making altcoins useless, because we still need altcoins. They solve different problems and have different use.

peleng

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Quote from: goncalvopietro on February 14, 2018, 09:22:44 AM

Bitcoin will always be the king of the crypto currency world. This will continue for a long time. Altcoins aren't as strong as Bitcoin.

Yes it is. But you can always exchange your favorite altcoin for bitcoin and after that you can spend your money. And besides, in many places that accept crypto currency, you can use ethereum to pay off.

needctrl

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Everybody is predicting something will happen to BTC. The flippening, or major loss of dominance and so on.
But as long you'll have to say the word "similar to bitcoin" after "cryptocurrency" to explain to outsiders what the hell you are talking about BTC is king

goncalvopietro

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Bitcoin will always be the king of the crypto currency world. This will continue for a long time. Altcoins aren't as strong as Bitcoin.

marks1976

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Quote from: ovcijisir on February 11, 2018, 03:59:09 PM

Quote from: o_e_l_e_o on February 10, 2018, 04:28:54 PM

Is bitcoin going to be instant and free like XRB? No.

Is bitcoin going to support smart contracts like ETH and NEO? No.

Is bitcoin going to pay you for holding it like NEO, VEN, XLM? No.

Is bitcoin going to pay you exchange dividends like KCS and COSS? No.

Is bitcoin going to be completely anonymous like XMR? No.

Is bitcoin going to have the business partnerships of VEN, ICX, WTC, REG, OMG?

Lightning network will it make it a bit faster and a bit cheaper. There's a hell of a lot more to blockchain technology than being a bit faster and a bit cheaper.

The only positive thing that came with BTC in last time is lower transaction fees. BTC is still slow and I avoid it. Have most of my portfolio in alternative cryptocurrencies. ⭐️

Bitcoin offers only to be an actual payment. But all of the things is very true. Bitcoin looks become useless compared with those coins which have better scalability than it. Lightning network didn't give a lot of impact to the bitcoin. Look at segwit and does it solve the problem of bitcoin? I remember blockstream believe about segwit will become the best way to fix it.

De_nis

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I think it is necessary to distinguish a token as a share of the company, and a coin means of payment, so altcoins of the best projects will always be in demand.

Watampone

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RedKLess

i think thats not true, bitcoin is most popular and king of cryptocurrency but isnt making alts useless
alts like ETH, NEO is really good, faster and cheap fee, just matter of time till other alts beat BTC

sunX3

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I don't think btc is making alts useless.

If anything, as btc grows, more people seek to invest in smaller more volatile coins that can 10x. Hence, making them more useful if anything.

andthereyou

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Not totally useless. There's time that altcoins going up while bitcoin down or vice versa. For now all are going down because of bad news and we all know it's the norm. It will take some time to recover

ovcijisir

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🐪

Quote from: o_e_l_e_o on February 10, 2018, 04:28:54 PM

Is bitcoin going to be instant and free like XRB? No.

Is bitcoin going to support smart contracts like ETH and NEO? No.

Is bitcoin going to pay you for holding it like NEO, VEN, XLM? No.

Is bitcoin going to pay you exchange dividends like KCS and COSS? No.

Is bitcoin going to be completely anonymous like XMR? No.

Is bitcoin going to have the business partnerships of VEN, ICX, WTC, REG, OMG?

Lightning network will it make it a bit faster and a bit cheaper. There's a hell of a lot more to blockchain technology than being a bit faster and a bit cheaper.

The only positive thing that came with BTC in last time is lower transaction fees. BTC is still slow and I avoid it. Have most of my portfolio in alternative cryptocurrencies. ⭐️

OmegaStarScream

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Quote from: o_e_l_e_o on February 10, 2018, 04:28:54 PM

Is bitcoin going to be instant and free like XRB? No.

Is bitcoin going to support smart contracts like ETH and NEO? No.

Is bitcoin going to pay you for holding it like NEO, VEN, XLM? No.

Is bitcoin going to pay you exchange dividends like KCS and COSS? No.

Is bitcoin going to be completely anonymous like XMR? No.

Is bitcoin going to have the business partnerships of VEN, ICX, WTC, REG, OMG?

Lightning network will it make it a bit faster and a bit cheaper. There's a hell of a lot more to blockchain technology than being a bit faster and a bit cheaper.

1. The lightning network is going to process millions/billions of transactions per second and It's going to be instant and the fees will be so insignificant so yes. (and no, It won't make it "a bit" cheaper and faster)
2. Yes it will. RSK is under development and read this too: https://www.coindesk.com/greg-maxwell-taproot-bitcoin-contracts-life-after-blockstream/
5. I can't tell for sure as I'm not a cryptographer but there are definitely proposals (Confidential transactions, TumbleBit etc.) that are being worked on to make bitcoin more anonymous.
6. It's a decentralized network so what is a definition of "business partnership" and with whom? I'm not sure that's an advantage.

As for holding and dividends then the bitcoin whitepaper clearly says "P2P Electronic cash system". It was never meant to give you dividends. My point is, a lot of things are coming to bitcoin which will make most of the alts useless, not all of them but definitely most of them because after all we have 1500+ crypto while most of them are never heard of by most of people.

thelemot

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Quote from: OmegaStarScream on February 10, 2018, 04:19:09 PM

We probably have multiple alts that one could consider as better version of bitcoin but as you're noticing, bitcoin is gaining more popularity and a fast growth. The price is not a measure of a coin success so what I'm referring to here is the the number of ATMs, exchanges, stores, services, and people accepting it.

So even If we have some people using alts currently because they believe they are better then bitcoin (which may be true), bitcoin is evolving and the development is super active and exciting times are coming. I honestly believe that this make alts useless (say, by the end of the year), your thoughts?

my opinion because bitcoin is the king of all coins, and people people know it is bitcoin. but do not rule out altc will compete depending on what is on offer altc like ATM in certain country. like bitcoins that already have ATMs in russia. and altc is traded on many exchanges like bitcoin. and one more total supply of people thinking more and more total supply the cheaper the price of the coin. so depends on the excess altc itself.

lolchina

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I do agree with you on this one,people seems to forget that bitcoin isnt done with improvement and when they are implemented it will make 99% of alts useles.For example lighting network is working on testnet for more then a month without problems and afaik there is even talking about implementing smart contracts on it,also atomic swap will happen soon2.When this changes hit mainet i wouldnt be supprised that we see btc going to 100k$

paxmao

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Quote from: OmegaStarScream on February 10, 2018, 04:19:09 PM

We probably have multiple alts that one could consider as better version of bitcoin but as you're noticing, bitcoin is gaining more popularity and a fast growth. The price is not a measure of a coin success so what I'm referring to here is the the number of ATMs, exchanges, stores, services, and people accepting it.

So even If we have some people using alts currently because they believe they are better then bitcoin (which may be true), bitcoin is evolving and the development is super active and exciting times are coming. I honestly believe that this make alts useless (say, by the end of the year), your thoughts?

You are right in a way. I am into alts much more than into bitcoin, but I do make a difference between coins, utility tokens and dividend tokens. Of these, only coins and utility really need adoption, and some of the utility tokens don´t need a lot, as their value is backed by services.

Regarding Bitcoin in the incoming year, while I really hope the best for bitcoin, as hodl some, for the moment it has shown a less than ideal ability to deal with the disagreement in its own community and a very slow implementation of the latest developments along with a centralised (large mine) governing group and lack of consideration for the everyday user.

To sum up, either Bitcoin moves quickly or Alts will make it irrelevant. As I am writing this, bitcoin is only 35% of the market cap.

https://coinmarketcap.com/charts/

Zarbout

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I think Bitcoin reach this price because it's accepted and used in many places like you mentioned. All alts are related to Bitcoin because it's the final way to cash out your funds in any other cryptocurrencies.

patt0

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Quote from: OmegaStarScream on February 10, 2018, 04:19:09 PM

We probably have multiple alts that one could consider as better version of bitcoin but as you're noticing, bitcoin is gaining more popularity and a fast growth. The price is not a measure of a coin success so what I'm referring to here is the the number of ATMs, exchanges, stores, services, and people accepting it.

So even If we have some people using alts currently because they believe they are better then bitcoin (which may be true), bitcoin is evolving and the development is super active and exciting times are coming. I honestly believe that this make alts useless (say, by the end of the year), your thoughts?

I completely agree with you. A lot of coins will be made completely useless with time, because they will eventually lose the edge they have over bitcoin. The coin that will lose more will probably be bcash. Although they still have better fees right now, that is not doing them any good, since I don't see any major adoption of bcash as a payment method. People are buying crypto to trade, or to save as a store of value, so the fees and transaction speed act more as a small annoyance, rather that the real tie breaker feature.

Also, as soon as bitcoin get the lightning network, it will completely outperform bcash, and the majority of other coins that want to play a role as a payment method.

I think that the only coins that will survive, are the ones that are no directly competing with bitcoin (like ethereum for example).

Topic: Bitcoin making alts useless - page 17. (Read 1695 times)