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Topic: Bitcoin vs. All Other Coins, are they hurting Bitcoin? (Read 2488 times)

sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
No since they are not duplication.    Even if true have you seen how tiny the coins are, nobody comes close to btc



Alts are really just a waste of money. They do not add anything that bitcoin cannot do.

Thats nonsense since most are faster to process.   Some are adding features, perhaps one day btc will add these itself if they are that useful and practical.
Faster is good but nothing is altering that btc is the longest most secure mainstream crypto so I dont see how this argument comes close to true.   If I had a million to place its the only choice as the market depth elsewhere is not sufficient to make sure Im liquid at any point

If by faster to process you mean shorter confirmation time then this is not necessarily a good thing. A lot of alt-coins with short confirmation times have a number of orphans because miners keep propagating blocks at the same time. This makes the coin more vulnerable to a double spend attack.
STT
legendary
Activity: 4088
Merit: 1452
No since they are not duplication.    Even if true have you seen how tiny the coins are, nobody comes close to btc



Alts are really just a waste of money. They do not add anything that bitcoin cannot do.

Thats nonsense since most are faster to process.   Some are adding features, perhaps one day btc will add these itself if they are that useful and practical.
Faster is good but nothing is altering that btc is the longest most secure mainstream crypto so I dont see how this argument comes close to true.   If I had a million to place its the only choice as the market depth elsewhere is not sufficient to make sure Im liquid at any point
sr. member
Activity: 266
Merit: 250
They are also helping bitcoin.
I planed to buy Monero, and to do that i first had to buy bitcoin. since Bitcoin is only currency with which i can buy Moneros on exchange.



Several people would argue that alt-coins are hurting the value of bitcoin by reducing the market cap of bitcoin by the market cap of all of the alts
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
In my opinion it kind of slows bitcoin, trades forus on trading altcurrencies instread into trading bitcoin even thought most altcoins are binded to btc exchange.

Alts are really just a waste of money. They do not add anything that bitcoin cannot do.
full member
Activity: 306
Merit: 102
Free competition is good for everyone.
legendary
Activity: 2730
Merit: 1288
They are also helping bitcoin.
I planed to buy Monero, and to do that i first had to buy bitcoin. since Bitcoin is only currency with which i can buy Moneros on exchange.

hero member
Activity: 1666
Merit: 513
Leading Crypto Sports Betting & Casino Platform
No at all, some saturation is good.

So is some non-sense...

I even seen Anti-Keiser Coin lol

Those little known coins help spread the news that may have not been otherwise shared.

Other coins will rise, others will fall...

All new coins are niche based, like IsraCoin (IsraelCoin)
newbie
Activity: 38
Merit: 0
It hurts only if people loose their trust in bitcoin, that they can pay with it.

In the real world dollards are not influenced by the trading of other goods. You can basically use every good as a currency as long as people trust in its characteristic to be accepted as a currency (i.e.you could use cigarettes as a currency).
legendary
Activity: 966
Merit: 1000
In my opinion it kind of slows bitcoin, trades forus on trading altcurrencies instread into trading bitcoin even thought most altcoins are binded to btc exchange.
hero member
Activity: 1106
Merit: 500
Life is short, practice empathy in your life
Alts that are traded for USD on significant volume somewhat hurt bitcoin's market cap. Only litecoin has achieved this status so far. All the other crapcoins are rather irrelevant to bitcoin's market cap as you need BTC to purchase them and they have no liquid fiat markets.
hero member
Activity: 552
Merit: 501
Why is anonymity (did I spell that right?) so important? If you're not doing anything illegal or some kind of perv, then why would you care if people can track your purchases?

Taxes.

Paying taxes is immoral.

Taxes (and fiat currency) are used to support war and the murder/imprisonment of innocent civilians.

Using Bitcoin takes away part of that power.
...Paying taxes is immoral - yeah -...Taxes support war to protect YOU...

Beyond parody
full member
Activity: 196
Merit: 101
Dogecoins have involved thousands of people in cryptocurrencies and have built up a nice community, I don't think they are hurting Bitcoin at all.
legendary
Activity: 1148
Merit: 1006
Black Panther
I'm a noob, I admit that. But when I get interested in something, I immerse myself into it and catch on pretty quickly.
I have a fundamental problem in theory, which I cannot work out.
When I think about the long-term success or failure of Bitcoin, it seems to me that other cryptocurrencies are hurting that possible success.
Now the mainstream is starting to accept Bitcoin. The branding is showing up everywhere. There are bitcoin ATMs, etc.
And then another coin, a better coin, maybe, in quality, but not a popular coin with the mainstream, starts to rise in value and overcome bitcoin.
Then what? Most people are just getting used to the idea of Bitcoin, then they are going to have the rug pulled from under them, when Bitcoin is beat out by another coin...with a different look, different branding, and maybe not as acceptable to the mainstream as bitcoin.
Now are the going to have redesign all their ATM machines for this new coin? Take down all the Bitcoin symbols and put up the branding for the new coin? How is that going to work exactly?

Seems that bitcoin has to stay number one to be accepted on a wide scale, or everything else is lost. Any feedback?

I think not
but like litecoin and dogecoin like ny enough coins pupoler
sr. member
Activity: 266
Merit: 250
Most altcoins can provide very little value over what Bitcoin can provide.

These coins are much less secure then the Bitcoin network as 51% attacks are not uncommon on smaller altcoins.
legendary
Activity: 1960
Merit: 1022
The alternative cryptocurrencies helps bitcoin promotion. A lot of people cames to the cryptocoins world thanks of the difution of alt coins.
hero member
Activity: 528
Merit: 527
Discovered that her brother was in the MILF

Ooops, you meant her mother not her brother, right?

I believe her brother would be a BILF, not sure because I am not into that sort of thing.

Haha, I guess MILF has more than one meaning.

In this case: Moro Islamic Liberation Front

http://en.wikipedia.org/wiki/Moro_Islamic_Liberation_Front

newbie
Activity: 27
Merit: 0
but you know I am right.
No, in fact, I know you are wrong.

I am betting on it and have put my money where my mouth is.  I am heavily invested in Bitcoin and do not own a single alt coin.  Talk to me next year at this time and we will see who was right.  I expect I will have made a tidy profit and, assuming you are investing in these fly-by-night coins, you will have lost.

List all the coins you are heavily invested in here:

Right now I'm in Bitcoin and DarkCoin.  I believe in hedging. I think we are simply too early in the technology cycle to claim a victor, and some of the altcoins have potential. Sure, it's most likely that Bitcoin will end up on top, but remember:

Vinyl => Tape => CD => MP3 => Streaming

Friendster => Myspace => Facebook

Who knows what a year will bring.
hero member
Activity: 714
Merit: 662
Other coins help to attract more attention into the crypto currency world seemingly to a vacuum.
Even if we don't believe into other currencies, one thing is clear for me : they don't eat bitcoin's pie, they are cooking a bigger cake.
newbie
Activity: 39
Merit: 0
IMO maybe it's hurt bitcoin but it doesn't hurt cryptocurrency world. If there's no competition than there won't be step forward.
legendary
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
Discovered that her brother was in the MILF

Ooops, you meant her mother not her brother, right?

I believe her brother would be a BILF, not sure because I am not into that sort of thing.
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