Bitcoin needs altcoins because ... - page 3.

Fatanut

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Quote from: Phyton76 on June 25, 2017, 07:50:32 PM

Maybe bitcoin will be more successful without the altcoins because people will be focus in just one cryptocurrency and demand will focus just in bitcoin that will can to spreading bitcoin in a fast development and i guess will get a very high price so fast.

You might think like that but it's better that we have altcoins. Altcoins spam twitter and FB like crazy. Altcoins aren't just advertising their coin but they are advertising the cryptocurrency as a whole. That makes people know about bitcoin. If there's just bitcoin, people aren't going to spend a lot of money advertising bitcoin just so the price of bitcoin will pump[1]. We all know that ICOs make a lot of money for the developers. I'm starting to think that some people out there are just making new and new coins to make more money.

[1] And ultimately helping the price of bitcoin go up by advertising it a lot will just be a waste of time because you are not the one who's going to make profit out of it. Other people will. Other people will always sell before you.

DoublerHunter

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Quote from: Yatsan on June 25, 2017, 08:11:01 PM

Quote from: Soranith on June 25, 2017, 10:20:15 AM

For me bitcoin needs altcoins because if you want to own plenty of bitcoin and you don't have enough money to buy then trade altcoins that way you will have the chance of having plenty of bitcoin.

That is not the only purpose of the altcoin. Each altcoin have a a projects to be done just like many ICO in the marketplace (altcoin) section, So in mu opinion the bitcoin need altcoin for the stability and balance of the cryptocurrency in that way the investors and whales will be distributed among the cryptocurrency.

Altcoins are not just created because they are for bitcoin and altcoin trading. Like you said, they are created because they have different projects or goal that bitcoin or any kind of cryptocurrencies doesn't have right now. Most of the cryptocurrencies have goals for the particular part of the whole so bitcoin needs altcoins because it will give meaning for the use of bitcoin and also to have another type of helper for improving our world.

Yatsan

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Quote from: Soranith on June 25, 2017, 10:20:15 AM

For me bitcoin needs altcoins because if you want to own plenty of bitcoin and you don't have enough money to buy then trade altcoins that way you will have the chance of having plenty of bitcoin.

That is not the only purpose of the altcoin. Each altcoin have a a projects to be done just like many ICO in the marketplace (altcoin) section, So in mu opinion the bitcoin need altcoin for the stability and balance of the cryptocurrency in that way the investors and whales will be distributed among the cryptocurrency.

Phyton76

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Quote from: hv_ on January 22, 2017, 12:20:22 PM

...

- 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?

Maybe bitcoin will be more successful without the altcoins because people will be focus in just one cryptocurrency and demand will focus just in bitcoin that will can to spreading bitcoin in a fast development and i guess will get a very high price so fast.

Gens09

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Quote from: hv_ on January 22, 2017, 12:20:22 PM

...

- 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?

I think it will be more accurate and effective when bitcoin is the only cryptocurrency existing in all over the world because all the focus of all the people in be in bitcoin. And its a good thing in the progress it will be the mainstream currency so fast in just a small time i guess.

Slow death

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Quote from: Soranith on June 25, 2017, 10:20:15 AM

For me bitcoin needs altcoins because if you want to own plenty of bitcoin and you don't have enough money to buy then trade altcoins that way you will have the chance of having plenty of bitcoin.

This happens frequently, people buy alts and the same people buy bitcoin, it's all about getting profits so if it's to trade, bitcoin depends of alts, alts depends of bitcoin

Now if it is in terms of technology I do not know

drachman

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Bitcoin does not need altcoins but we need altcoins, in case governments try to take over the network and supposing they are successful, we do not have to start all over again we will have many cryptos which we could move on instead.

MCS23

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Quote from: squatz1 on June 25, 2017, 03:59:15 PM

Bitcoin doesn't need Alt coins, alt-coins needs Bitcoins to be able to be even thought of as anything of a currency. It really dooms you for failure when you're FATHER CURRENCY (Bitcoin) is still having an insanely hard time attempting to get people involved in using it, adopting it, accepting it (through a business but can be personal too) and so on. These altcoins aren't going to become anything unless Bitcoin has a huge breakout into the global world and is used by everyday people.

That's the only time where I can see these altcoins every becoming anything, because at the moment they're really just taking a backseat to Bitcoin and just sitting around letting money get pumped into them for trading YET having no real usage in the world. They may have a plan for usage in the world, but no execution.

It seems to me that Bitcoin has a huge potential and now very much pulls for itself all the crypto currency and everything altcoin. We may doubt the potential of Bitcoin But today we will go out what indicators show Bitcoin on the trade exchanges. I think that this trend will continue.

squatz1

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Bitcoin doesn't need Alt coins, alt-coins needs Bitcoins to be able to be even thought of as anything of a currency. It really dooms you for failure when you're FATHER CURRENCY (Bitcoin) is still having an insanely hard time attempting to get people involved in using it, adopting it, accepting it (through a business but can be personal too) and so on. These altcoins aren't going to become anything unless Bitcoin has a huge breakout into the global world and is used by everyday people.

That's the only time where I can see these altcoins every becoming anything, because at the moment they're really just taking a backseat to Bitcoin and just sitting around letting money get pumped into them for trading YET having no real usage in the world. They may have a plan for usage in the world, but no execution.

bitllionaire

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Quote from: Soranith on June 25, 2017, 10:20:15 AM

For me bitcoin needs altcoins because if you want to own plenty of bitcoin and you don't have enough money to buy then trade altcoins that way you will have the chance of having plenty of bitcoin.

although there is no special need of altcoin for a bitcoin, but we only it bitcoin to trade altcoin and get profit from it. and there is no other need for bitcoin to have altcoins. in fact bitcoin is the king.

jak3

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i think altcoins are more than just testnet or testcoin referring bitcoin because people make altcoins with the concept of using them like bitcoin so that means there is some possibility of using it incited of bitcoin not like bitcoin. some altcoins are good enough they can actually replace bitcoin but the fact that bitcoin remains more stable that any other of its competitor wins the race. so bitcoin is still ruling the throne and hopefully will rule the throne for a very long time. if some other coins gets acceptance around the world then it can be a good challenge for btc.

haroldtee

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Quote from: Ayers on January 22, 2017, 01:10:56 PM

I don't agree with the testnet, because we have already the teestnet with bitcoin, if you want tot ry something you can try it there without making an altcoin to scam investors, altcoin are bad for another reason and is the fact that they remove liquidity to the bitcoin market, if someone want to buy many altcoin he will dump bitcoin for them because it's the easy way instead of going with fiat first

Sure! Bitcoin has its own testnet but altcoins can still be used. For example, segregrated witness was/is being experimented on Litecoin which is an altcoin to know how the situation plays out. So far, it had been tested to lay out good which I believe increased the support for segwit2x.

Prodigan786

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Altcoins really need because the limitation of bitcoin supply and also people really relying on crypto currency for their businesses they can use altcoins when bitcoin transaction fees really high or high confirmation time.

Soranith

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For me bitcoin needs altcoins because if you want to own plenty of bitcoin and you don't have enough money to buy then trade altcoins that way you will have the chance of having plenty of bitcoin.

Fatanut

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Quote from: S4pta on June 24, 2017, 05:14:52 PM

I think bitcoin and altcoins are one dependent stock ... if bitcoin rises altcoins will go down ... whereas if altcoin rises bitcoin will go down ... that's one that proves that bitcoin and altcoin are dependent or related ... thank you ....

Although it tends to be like that, it's not always like that. There's just no correlation between the two. If bitcoin goes down in price, I'm not going to buy ETH or any other altcoin. I'm simply going to wait for the price of bitcoin to go up once again. There are times when all the major coins and bitcoin are all in negative gains. It's because people are cashing out their cryptocurrencies.

I also observed what you are saying when the price of bitcoin was moving from 1K$ to 2.9k$. You would literally watch a show of altcoins going down. It's because people want to cash out their money through bitcoins. But as time goes by, I also observed that it's not always the case. It's only the case when bitcoin's price is significantly moving.

Arindava

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The parent of all coins is bitcoin, so my thinking ..
Any coins owned will definitely be back on bitcoin..

darthmaul

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Alts are big chances of bitcoins and which are spreading like microbial colony. Yes they are really big part of the bitcoin because they are traded on the basis of bitcoin only. Moreover their prices fluctuate as per the market valuation of bitcoin and one can easily take it down with help of bitcoin. In some way both the coins are interdependent and will fluctuate each others in the market for sure. Trading platform runs on the coins, they generate their revenue against BTC price which means neither of the coin can be shut off from the trading nor can be ignored for trading. Its good points that you listed here.

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Quote from: S4pta on June 24, 2017, 05:14:52 PM

I think bitcoin and altcoins are one dependent stock ... if bitcoin rises altcoins will go down ... whereas if altcoin rises bitcoin will go down ... that's one that proves that bitcoin and altcoin are dependent or related ... thank you ....

Most of the time they have opposite waves, yes when bitcoin rises alts are down. But last time when there's a full wave that made the whole crypto currency market on a red market. They are related and every alt coin is helping bitcoin's price because when someone buys an alt, that makes the demand of bitcoin higher.

S4pta

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I think bitcoin and altcoins are one dependent stock ... if bitcoin rises altcoins will go down ... whereas if altcoin rises bitcoin will go down ... that's one that proves that bitcoin and altcoin are dependent or related ... thank you ....

soul-impact

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Quote from: Distinctin on April 17, 2017, 09:09:44 AM

Quote from: BlackPanda on April 17, 2017, 08:26:26 AM

because altcoin is an important part of the world bitcoin. with altcoin the bitcoin prices could change, because the price of bitcoin broadly influenced by altcoin. and also with the altcoin we can perform a wide range of trade,. This is why the importance of altcoin today.

Altcoin and bitcoin are created with different purpose, and they are unique actually and if we see it is beneficial to us then
it is presume that people will also support it. But the number 1 is bitcoin and with the developers in altcoins who continues to
make developments it will help bitcoin be more popular and the crypto as a whole.

The altcoins are like duplicates of bitcoin but have other technological core, which is according to the way that the developer wants to do. However, altcoins are just the means for people to make more bitcoin until the altcoins are really popular and developed independently. So, altcoins are like the means to develop bitcoin.

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