Bitcoin needs altcoins because ... - page 14.

Idrisu

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Quote from: hv_ on January 22, 2017, 11:20:22 AM

...

- Alts work like a testnet for bitcoins (looking forward seeing Litecoin with SegWit)

- Once an alt feature looks working it might get adopted no matter onchain or in a side chain. (RSK)

- Alts mostly need bitcoin to trade and some bitcoins might be always reserved / locked for this.

- Alts might help to generate a closed bitcoin economy

My favorit comes here:

- Alts work like an infinite fear generator (Hydra) against any try of regulators to bring bitcoin down, since there are too many to kill and its very easy to just create a new one (like a Hydra cannot be killed by chopping off some heads, even the biggest one!) > crypto world is anti fragile and it will stay on this solar system from year 2009 on.

Any other things missing here?

there will be to many to kill" yes population is power. altcoins create a backup for bitcoin in the present of it enemies. Still many countries in future will see the important of cryptocurrencies and will legalize it. Let keep our fingers crossing as we the bitcoinist look into the future with hope and prospect. My believe is no weapon form against bitcoin and other cryptocurrencies shall proper.

tabas

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Quote from: BeGoods on January 26, 2017, 06:10:45 PM

Quote from: tabas on January 26, 2017, 05:46:09 PM

Quote from: boybugs18 on January 25, 2017, 05:00:46 AM

bitcoin needs altcoins because it will be the testground of some implementation before going to bitcoin and I think altcoins purpose is to fill up the missing solution bitcoin cant give I cant state what problems are available still. Altcoins are ways of saying they have new idea that bitcoin circle cant adapt and it giving some good volumes on exchanges.

There is no missing solution for bitcoin because it is as it is. There's no need for improvement of fulfillment of bitcoin that alt coin is going to be successor of it. But alt coin is also a good help to bitcoin because it helps the investors to find a lot of ways to invest. Because of them they are making the bitcoin market cap becomes higher for buying alt coins with the use alts.

I also recognize that the market altcoin also quite helpful for bitcoin, and bitcoin it is useful for itself
but if altcoin nothing though. bitcoin can still survive and walk as usual

They are really helping bitcoin when it comes to investment, profit and adoption although even they will be buying alt coins but the payment and profit is with bitcoin. At first, I thought that bitcoin is just good to stand alone, although it can but with the help of alt coins they making more noise in highlighting bitcoin adoption.

error08

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Quote from: Xenophoto on January 27, 2017, 10:18:43 PM

Quote from: Rude Boy on January 27, 2017, 12:45:38 PM

Because, bitcoin alone cannot make the cryptocurrency good. There should be something alternative and competitive as we cannot predict one as the best without having any other similar thing!

Comparing bitcoin and an altcoin doesn't make the cryptocurrency as a whole good. It just makes bitcoin stand out. Suppose that there's no altcoin and the only crypto is bitcoin. The whole crypto thing would still be good because bitcoin is good. Actually, even if there are altcoins, the reputation of the cryptocurrency still depend on bitcoins because bitcoin is the best crypto right now. If it's a failure, then people would see crypto as a failure too unless an altcoin would rise and prove that the concept of cryptocurrency didn't go to waste.

Not now, we don't comparing bitcoin to altcoins about the value or majority as none of them could compete with bitcoin for now.
Altcoins just for an alternative, trading and invent new ideas of cryptocurrency, if somehow it can be growing than investors will invest on it too. We expect bitcoin won't fail but cryptocurrency consider as backup plan.

pixie85

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Quote from: Rude Boy on January 27, 2017, 12:45:38 PM

Because, bitcoin alone cannot make the cryptocurrency good. There should be something alternative and competitive as we cannot predict one as the best without having any other similar thing!

Competition and choice is always good even if it only shows that bitcoin is superior. Altcoins are speculative and more uncertain than bitcoin but offer more gain if one is lucky. Bitcoin is more predictable and better to hold for longer periods.

danherbias07

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In my own opinion I just need altcoins because bitcoin is too expensive so I buy altcoin thru my liittlr bitcoin just for trading. There is not much room to profit if you have little bitcoin in your wallet so you need to create something else. And that is where this alts will come in. That is just for my own selfish opinion. Cheesy

OrangeII

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Quote from: Rude Boy on January 27, 2017, 12:45:38 PM

Because, bitcoin alone cannot make the cryptocurrency good. There should be something alternative and competitive as we cannot predict one as the best without having any other similar thing!

may altcoin as pillars raised to bitcoin has a high price. if altcoin no, probably bitcoin prices will drop lower. bitcoin need altcoin, because altcoin working as the main supplier bitcoin prices.

Xenophoto

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Quote from: Rude Boy on January 27, 2017, 12:45:38 PM

Because, bitcoin alone cannot make the cryptocurrency good. There should be something alternative and competitive as we cannot predict one as the best without having any other similar thing!

Comparing bitcoin and an altcoin doesn't make the cryptocurrency as a whole good. It just makes bitcoin stand out. Suppose that there's no altcoin and the only crypto is bitcoin. The whole crypto thing would still be good because bitcoin is good. Actually, even if there are altcoins, the reputation of the cryptocurrency still depend on bitcoins because bitcoin is the best crypto right now. If it's a failure, then people would see crypto as a failure too unless an altcoin would rise and prove that the concept of cryptocurrency didn't go to waste.

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Quote from: Bitman86 on January 26, 2017, 08:39:45 PM

All open source software has a start.
But they follow versions of the same that can be much superior.
The initial software has a historical reference value.
Bitcoin proved that blockchain technology works well.
But there are improvements that can no longer be implemented in bitcoin,
If implemented they should no longer be called bitcoin ...

This is a possibility but it is not a rule, especially since bitcoin is not just a piece of code but a currency so the number of people using it known as adoption and the value it has also an impact on what coin is considered the best and the most useful.

Rude Boy

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Because, bitcoin alone cannot make the cryptocurrency good. There should be something alternative and competitive as we cannot predict one as the best without having any other similar thing!

Edraket31

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Quote from: Superways on January 27, 2017, 10:56:50 AM

But there is one reason due to which all of the altcoins need bitcoin the most and the reason is that people come to crypto world because of bitcoin as they first know about bitcoin because it is heard all over the internet so if there will be good news about bitcoin then people will come to join the crypto world and will believe on all other crypto currencies but if there will be bad news then people will also not believe on other altcoins.

Many people wants to have bitcoin as much as they can and altcoins has been a big help in promoting bitcoin in the world because altcoin are cheaper many people get interested with it. They use and invest in altcoin to collect bitcoin. They both need each other, without altcoin bitcoin is hardly to reach and without bitcoin there is no bitcoin.

hv_

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Quote from: BTCLovingDude on January 27, 2017, 10:36:09 AM

Quote from: BitFinnese on January 27, 2017, 09:38:31 AM

Quote from: topesis on January 27, 2017, 08:57:37 AM

Bitcoin needs Altcoin to sustain the demand pressure, most Altcoins trade on most exchanges are against BTC and not fiat, also some ICOs like ICONOMI and Chronobank allowed fiat deposit but this was converted into BTC

But we all know that these BTC will be converted sooner or later, And the way you stated it, it was the other way around. It is the altcoin that needed BTC because these altcoins are traded mostly in BTC. And some ICO needs BTC for them to crowdfund the project.

this is just another topic with the same argument about bitcoin versus altcoins. there is already another one of these in this board called bitcoin without altcoins!
and so far out of all these arguments and some spam, and among all these altcoins none of them have contributed or otherwise to bitcoin apart from making some traders richer and some lose money.

Sorry, I havn t checked this threads here in depth. I came to this when I was thinking of my point 3 in the op. I ve never seen this 'value' of alts mentioned anywhere or from anybody else.

Superways

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Quote from: bestluck on January 27, 2017, 10:44:13 AM

Quote from: BitFinnese on January 27, 2017, 09:38:31 AM

Quote from: topesis on January 27, 2017, 08:57:37 AM

Bitcoin needs Altcoin to sustain the demand pressure, most Altcoins trade on most exchanges are against BTC and not fiat, also some ICOs like ICONOMI and Chronobank allowed fiat deposit but this was converted into BTC

But we all know that these BTC will be converted sooner or later, And the way you stated it, it was the other way around. It is the altcoin that needed BTC because these altcoins are traded mostly in BTC. And some ICO needs BTC for them to crowdfund the project.

I do not think that any currency is dependent on any other currency for its running. All of the currencies are independent but only we people require one or another currency for the convenient of other for example developers need BTC deposit to participate in ICO because their convenient money is BTC otherwise they would use their own currency for all the requirements of their project. In exchanges altcoins are traded against BTC becuse the exchange owners know that people love to trade to BTC and that is convenient otherwise people will not join fiat exchange for trade.

But there is one reason due to which all of the altcoins need bitcoin the most and the reason is that people come to crypto world because of bitcoin as they first know about bitcoin because it is heard all over the internet so if there will be good news about bitcoin then people will come to join the crypto world and will believe on all other crypto currencies but if there will be bad news then people will also not believe on other altcoins.

bestluck

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Quote from: BitFinnese on January 27, 2017, 09:38:31 AM

Quote from: topesis on January 27, 2017, 08:57:37 AM

Bitcoin needs Altcoin to sustain the demand pressure, most Altcoins trade on most exchanges are against BTC and not fiat, also some ICOs like ICONOMI and Chronobank allowed fiat deposit but this was converted into BTC

But we all know that these BTC will be converted sooner or later, And the way you stated it, it was the other way around. It is the altcoin that needed BTC because these altcoins are traded mostly in BTC. And some ICO needs BTC for them to crowdfund the project.

I do not think that any currency is dependent on any other currency for its running. All of the currencies are independent but only we people require one or another currency for the convenient of other for example developers need BTC deposit to participate in ICO because their convenient money is BTC otherwise they would use their own currency for all the requirements of their project. In exchanges altcoins are traded against BTC becuse the exchange owners know that people love to trade to BTC and that is convenient otherwise people will not join fiat exchange for trade.

BTCLovingDude

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Quote from: BitFinnese on January 27, 2017, 09:38:31 AM

Quote from: topesis on January 27, 2017, 08:57:37 AM

Bitcoin needs Altcoin to sustain the demand pressure, most Altcoins trade on most exchanges are against BTC and not fiat, also some ICOs like ICONOMI and Chronobank allowed fiat deposit but this was converted into BTC

But we all know that these BTC will be converted sooner or later, And the way you stated it, it was the other way around. It is the altcoin that needed BTC because these altcoins are traded mostly in BTC. And some ICO needs BTC for them to crowdfund the project.

this is just another topic with the same argument about bitcoin versus altcoins. there is already another one of these in this board called bitcoin without altcoins!
and so far out of all these arguments and some spam, and among all these altcoins none of them have contributed or otherwise to bitcoin apart from making some traders richer and some lose money.

BitFinnese

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Quote from: topesis on January 27, 2017, 08:57:37 AM

Bitcoin needs Altcoin to sustain the demand pressure, most Altcoins trade on most exchanges are against BTC and not fiat, also some ICOs like ICONOMI and Chronobank allowed fiat deposit but this was converted into BTC

But we all know that these BTC will be converted sooner or later, And the way you stated it, it was the other way around. It is the altcoin that needed BTC because these altcoins are traded mostly in BTC. And some ICO needs BTC for them to crowdfund the project.

webtricks

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Quote from: kiklo on January 26, 2017, 07:44:21 PM

BTC could die tomorrow, some Alts would continue on. Wink

One of Alts would take over as the main conversion between crypto & fiat.
And Life goes on.

Cool

Its a kinda absurd to say that Bitcoin would die and still there is some alt which can dominate Blockchain!
I don't feel so. Bitcoin has largest member base among all cryptos. So possible reason for its extinction can never be relate to its supply. Most possible reasons could include external factors like world-wide ban, etc. Under such situation other alts will not survive too.

agustina2

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Quote from: kiklo on January 26, 2017, 07:44:21 PM

BTC could die tomorrow, some Alts would continue on. Wink

One of Alts would take over as the main conversion between crypto & fiat.
And Life goes on.

Cool

When BTC dies tomorrow, some or even majority of alts will died too. Why?

Bitcoin has strong support from the community since the beginning, reached decent price in USD value, gives a convenient way of sending and receiving money to other people, erase the usual centralized money transactions, minimize tax*, gives anonymity*, just need one click to perform transactions and many other helpful things that bitcoin do but in the final phase was ended up dying. Im sure people will not be an enthusiast now of the digital currency and their faith to it will be gone for good. After the success and progress who will think that bitcoin will die, if does, so on with the alts since it can not be trusted anymore as downfall in the future is possible.

topesis

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Bitcoin needs Altcoin to sustain the demand pressure, most Altcoins trade on most exchanges are against BTC and not fiat, also some ICOs like ICONOMI and Chronobank allowed fiat deposit but this was converted into BTC

Gembul

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Quote from: CraigWrightBTC on January 27, 2017, 08:08:30 AM

Quote from: hdtqisg on January 27, 2017, 07:19:03 AM

Because most all coin exchange to BTC be for exchange to USD and other

Hmmm.. actually i don't too understand about your statement do you can make it more clear?
Altcoins exchange to Bitcoin doesn't mean bitcoin needs altcoins because there are no impact of it,
that is more suitable altcoins needs bitcoins in trading.

Maybe the intent of our friends is mostly altcoin unpaired directly with the USD. Only a few are paired with USD as LTC / USD, ETH / USD and others. And to sell altcoin to usd usually be exchanged for bitcoin first. And agree with you altcoin does not affect bitcoin at all.thank you.

CraigWrightBTC

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Quote from: hdtqisg on January 27, 2017, 07:19:03 AM

Because most all coin exchange to BTC be for exchange to USD and other

Hmmm.. actually i don't too understand about your statement do you can make it more clear?
Altcoins exchange to Bitcoin doesn't mean bitcoin needs altcoins because there are no impact of it,
that is more suitable altcoins needs bitcoins in trading.

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