Bitcoin needs altcoins because ... - page 5.

Fatanut

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Quote from: d.kevin29 on April 14, 2017, 04:16:50 AM

What I find the most important is the fact that Governments do not have to fight with just one enemy (which was Bitcoin). Now they need to fight with hundreds of enemies and see what actions they can take against them. It's harder for them to reach the point where they can make all these coins illegit..

Doesn't matter if there would be millions of cryptocurrencies that has been created when the government decided to take some action. They simply have to ban the use of all unregulated currencies most especially decentralized ones and unregulated ones. When they do that, it will be legal to use centralized cryptocurrency like digital fiat, digital gold, etc.

They don't have to ban bitcoins, and then ban etherium, then ban dash, then ban LTC, then ban Dogecoin. The government is quite smart. They are not going to put a ban on these currencies one by one but rather they will categorize them to ban them all at once.

choppork

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Quote from: mkmdoc on April 14, 2017, 06:32:50 AM

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Yes, bitcoin is already very popular bitcoin till never depends on altcoin. Altcoin is completely based on bitcoin to increase their value.
In order to trade cryptocurrencies one need currency like bitcoin, because with fiat the value is simply high.

You can actually already trade cryptocoins using fiat or even ETH. Bitcoin doesn't have to be always the star in the crypto-world. There would always be major coins like Ether and the trading sites will always think of the idea of using these major coins directly to trade other cryptocurrencies.

I don't get what you're saying that "with fiat, the value is simply high." Fiat will always be the standard measurement of these currencies. Even though we mainly trade them with bitcoins, bitcoins' value is still measured using the fiat currency. Meaning to say, all cryptocurrencies' value will always be dictated to its price when converted to fiat. You don't get a discount when you use bitcoin to buy a cryptocurrency, you'll get the same thing (e.g. you buy a coin with 20$ fiat, and when you buy a coin with bitcoin that's worth 20$).

JL421

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If we want to trade we will always have to convert to fiat and then wait for our money to arrive. And then send fiat again and take few days plus pay so much fees.
Second if there wasn't any altcoins bitcoin would have made it so far or people won't be getting the profit they are getting currently.

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Quote from: basesaw on January 22, 2017, 01:58:57 PM

bitcoin needs altcoins because bitcoin needs help from other source of crypto currencies. if bitcoin itself is just running in the online market, then other users will just think that its boring if it just bitcoin who is running in the online world. maybe they would choose other investment rather than bitcoin so thay can play in the market.

Altcoin is created to support bitcoin because in terms it is a alternative bitcoin which mean to say it is created inclined on helping to develop bitcoin itself. Yes maybe some say it is a form of competition which mean it may varies the value and demand responding to peoples wants and needs. It is a mutual relationship between the two variables. So if it continue to develop bitcoin they must help altcoin too to develop itelf for the future of bitcoin to be good.

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Quote from: Golftech on April 14, 2017, 01:30:57 AM

Quote from: madwica on April 13, 2017, 08:11:15 PM

Quote from: aksplace on April 13, 2017, 07:22:10 PM

actually the true reason for altcoin is a some improvement from bitcoin that maybe bitcoin doesnt have it to give a better service
but many altcoin just for to make profit for the creator and the whale

It helps to increase the value of bitcoin but not totally bitcoin will base on the altcoin.
And i agree that altcoin created for the purpose of earning by one dev or owner because they want to mine altcoin to increase their income.

if bitcoin succeed then why alts won't? its just take time for their purpose to be served maybe its better to say alts needs bitcoin because they have been compared and they have been use for alternate, bitcoin already well known no need for alts to accompany for more success it can individually move forward.

Yes, bitcoin is already very popular bitcoin till never depends on altcoin. Altcoin is completely based on bitcoin to increase their value.
In order to trade cryptocurrencies one need currency like bitcoin, because with fiat the value is simply high.

deepocean

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Inability to perform low-level operations due to high interruptions indicates that the altcoin are required

naughty1

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Quote from: jakelyson on April 14, 2017, 05:35:08 AM

Real coins, not the pump and dump coins, are good competition to bitcoin. It make progress of either coins to be faster and better because they are competing in a very good market. Without competition, development will be stagnant.

You are right, competition is what promotes the continuous development of a coin, without competition, we will be satisfied about it, and it will never grow, bitcoin is the same. As we humans, we always exist with friends, the confrontation, altcoin is the rival bitcoin development.

jakelyson

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Real coins, not the pump and dump coins, are good competition to bitcoin. It make progress of either coins to be faster and better because they are competing in a very good market. Without competition, development will be stagnant.

DoublerHunter

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Quote from: d.kevin29 on April 14, 2017, 04:16:50 AM

Quote from: DoublerHunter on April 14, 2017, 03:47:14 AM

Bitcoin needs altcoins because it is one of the key for bitcoin to attract investors and users because we can notice how of the most members here like trading especially the altcoin trading because of being more volatile from its price than bitcoin. If altcoin will stay with bitcoin then bitcoin will have a faster growth because of the two markets that are available which gives both big opportunities to other people who are looking for that.

What I find the most important is the fact that Governments do not have to fight with just one enemy (which was Bitcoin). Now they need to fight with hundreds of enemies and see what actions they can take against them. It's harder for them to reach the point where they can make all these coins illegit..

Sure, the coins are atracting many, many investors. But without all the other coins, BTC would have probably been worth +$2500 at the moment.

You're wrong bitcoin won't get the high price without attractive opportunities like fast profit. Just imagine if the bitcoin doesn't have altcoin and just bitcoin alone then how the other trader or people get interested with bitcoin if they can just use bitcoin and do trading with bitcoin, it will be hard for them to get profit because bitcoin trading is harder than altcoin trading and one of the reason why people actually go bitcoin because they like altcoin trading.

lemonade09

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Bitcoins dont need alt coins from the success of bitcoin even there is no alt coins the bitcoins will still have a high price rate ,.
Alt coins is trying to copy bitcoin virtual currency so they created a virtual currency too..
So bitcoins dont need alt coins why we do mine bitcoins we just exchange alt coins for a bitcoins to get a small profit..

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Probably competition would be the main reason why altcoins are needed. In the modern world it's not enough to just state "Bitcoin is the best thing possible". We need hundreds of altcoins to inspect their operation in order to compare their features with Bitcoin's. As we can see some altcoins, like Ethereum, Dash, Monero etc. are liked by people and they are adopted pretty fast, and they really have huge Market Caps. But can any of them come near to Bitcoin? No, not yet.

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Quote from: Haladay on April 13, 2017, 06:39:40 PM

Bitcoin needs altcoins because bitcoin have to show it can beat them all even there are thousands of different altcoins! Wink

Well that's obvious and we know that bitcoin already beaten all of them and even how many are going to show and will be newly created.

Bitcoin will always be the dominating coin in crypto currency world. Though bitcoin pumped at its early age even without alt coin.

But right now since the market of alt coin is getting wider, they are a good contributor to make the value of bitcoin higher.

Because of all of them came from bitcoin.

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Quote from: batang_bitcoin on April 14, 2017, 04:12:23 AM

Quote from: aksplace on April 13, 2017, 07:22:10 PM

actually the true reason for altcoin is a some improvement from bitcoin that maybe bitcoin doesnt have it to give a better service
but many altcoin just for to make profit for the creator and the whale

That's the reality, alt coin is only for generating profit and all of them came from the original one which is bitcoin. And they are good additional marketcap for bitcoin because most of them are still relying and depending with bitcoin. Their main conversion is still bitcoin so that is a good help for bitcoins market.

As quoted altcoins are generated not only for profit making. It's been generated same as bitcoin but the potential coin gets used in a better way other than a profiting source. Altcoin provides added methodologies in profit making with bitcoin through the exchange of bitcoin for altcoins.

d.kevin29

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Quote from: DoublerHunter on April 14, 2017, 03:47:14 AM

Bitcoin needs altcoins because it is one of the key for bitcoin to attract investors and users because we can notice how of the most members here like trading especially the altcoin trading because of being more volatile from its price than bitcoin. If altcoin will stay with bitcoin then bitcoin will have a faster growth because of the two markets that are available which gives both big opportunities to other people who are looking for that.

What I find the most important is the fact that Governments do not have to fight with just one enemy (which was Bitcoin). Now they need to fight with hundreds of enemies and see what actions they can take against them. It's harder for them to reach the point where they can make all these coins illegit..

Sure, the coins are atracting many, many investors. But without all the other coins, BTC would have probably been worth +$2500 at the moment.

batang_bitcoin

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Quote from: aksplace on April 13, 2017, 07:22:10 PM

actually the true reason for altcoin is a some improvement from bitcoin that maybe bitcoin doesnt have it to give a better service
but many altcoin just for to make profit for the creator and the whale

That's the reality, alt coin is only for generating profit and all of them came from the original one which is bitcoin. And they are good additional marketcap for bitcoin because most of them are still relying and depending with bitcoin. Their main conversion is still bitcoin so that is a good help for bitcoins market.

DoublerHunter

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Bitcoin needs altcoins because it is one of the key for bitcoin to attract investors and users because we can notice how of the most members here like trading especially the altcoin trading because of being more volatile from its price than bitcoin. If altcoin will stay with bitcoin then bitcoin will have a faster growth because of the two markets that are available which gives both big opportunities to other people who are looking for that.

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Quote from: hajimasan on January 22, 2017, 01:18:03 PM

If there's no altcoin then more than 50% of its user will quit bitcoin because then there will be Less possibility of trading and making profit from it. Without altcoin bitcoin is nothing for traders who deal with multiple coins. And also for the market competition altcoin are needed.

Yes altcoin help bitcoin on hitting on the price because people can make a choice on choosing between trading. Some may think it is a competition, yes it is a competition yet a friendly one or what can we say as a mutualism when two variables may help each other to build and rebuild in this case to build a fine and good foundation to help price and value increase. Altcoin can serve as a device which trading can help to provide good price and suffucient demand.

Golftech

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Quote from: madwica on April 13, 2017, 08:11:15 PM

Quote from: aksplace on April 13, 2017, 07:22:10 PM

actually the true reason for altcoin is a some improvement from bitcoin that maybe bitcoin doesnt have it to give a better service
but many altcoin just for to make profit for the creator and the whale

It helps to increase the value of bitcoin but not totally bitcoin will base on the altcoin.
And i agree that altcoin created for the purpose of earning by one dev or owner because they want to mine altcoin to increase their income.

if bitcoin succeed then why alts won't? its just take time for their purpose to be served maybe its better to say alts needs bitcoin because they have been compared and they have been use for alternate, bitcoin already well known no need for alts to accompany for more success it can individually move forward.

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Quote from: madwica on April 13, 2017, 08:11:15 PM

Quote from: aksplace on April 13, 2017, 07:22:10 PM

actually the true reason for altcoin is a some improvement from bitcoin that maybe bitcoin doesnt have it to give a better service
but many altcoin just for to make profit for the creator and the whale

It helps to increase the value of bitcoin but not totally bitcoin will base on the altcoin.
And i agree that altcoin created for the purpose of earning by one dev or owner because they want to mine altcoin to increase their income.

if understood in terms of altcoin, it is a very lucrative opportunity to make a profit through many development projects made coins, altcoin need benchmarks bitcoin currency for real money. On the other hand bitcoin also get the trust benefit from altcoin, so conclusions for altcoin still dependent on bitcoin, bitcoin will never be destroyed. As strong as the strength of bitcoin without altcoin, not as strong as today if no altcoin.

madwica

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Quote from: aksplace on April 13, 2017, 07:22:10 PM

actually the true reason for altcoin is a some improvement from bitcoin that maybe bitcoin doesnt have it to give a better service
but many altcoin just for to make profit for the creator and the whale

It helps to increase the value of bitcoin but not totally bitcoin will base on the altcoin.
And i agree that altcoin created for the purpose of earning by one dev or owner because they want to mine altcoin to increase their income.

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