Topic: Bitcoin vs Altcoin environment (Read 420 times)

Im just telling the truth mate. I also used bitcoin but other than holding it, trading or used it on peer to peer, honestly I dont know what else could be of used. Yes can be used for payment to some establishment but its the same with altcoins too. But can you used bitcoin, on some use case such as nft? staking? (own platform probably impossible its not PoS) or gaming or anything? Aside from holdinh and trading. Maxis will definitely outline negative of altcoins for sure. Of course I know of them too. Those shitcoins or pnd coins. But when I refer to altcoin environment, I am specifically aimign for thise uselful one.

I know Bitcoin maxis won't like this comment 🤔. But if they will be honest with themselves they should know that ETH and most alts have this over Bitcoin. No matter how centralised they want to classify certain alts and condemn them, they should never be in a hurry to forget the usecases of these alts. Most of these alts continually advance this crypto industry. That's a fact. Sentiments apart. That buttresses the point that we've to be objective in our assessments at all time, not minding whose ox is gawd.

There is no denying that the bitcoin will always be the number 1 project in crypto and even at the time like this, its the only one that create volatility on overall market. But in terms of usage to such application theres no doubt there are far more greater to do with alts, Im not talkimg about peer to peer transactions since its the only usefulness of bitcoin unlike altcoins which can be used on defi product that works similarly like bank. Anyway, lets just fight for what we understand about it. Not everybody are on the same boat and has different perspective when it comes to this.

Honestly, I also laugh real hard when I read here about users calling anything aside Bitcoin shitcoins. It's even more hilarious when I read about my compatriots louding and cheering that point of view here. I'm cocksure that these compatriots have enough alts they're bagholding. Why join in fudding while you're also secretly patronising and hodling the same thing? Sincerely, that attitude beats me hallow too.

But of course, you're not the only one. There is a battalion behind you. Those who lambast and categorize all alts as shitcoins will advise investors to buy from top listed alts if they wanted to safeguard their investments. To me, that sounds ambivalence. Quiet alright, Bitcoin is the pathfinder in this industry but that doesn't distort the fact that there are great alts too.

What's your question exactly?  
It's growing like similar TOP 10 Altcoins, especially from new DeFi applications but also inventing new applications like subnets (like you said) and ILOs.
Growth can be seen by specific statistics here: https://stats.avax.network/dashboard/c-chain-activity (c-chain)

But I don't know if it's off-topic here, maybe it's a question for their ANN or if you need more detailed questions, for an official dev.

Oh I thought you are since Ive since you early promoting it during their campaign that time before they launch. I remember it cause Ive also joined their campaign that time. Can you give me your honest opinion, about its growth? Like their random sampling tech. Their all about subnets and Im sure thats a unique approach when it comes to delegation and result of a good voting on their network.

No, I'm not a validator and also not a delegator. 
I'm not a validator because setting up and maintaining it is quite difficult (I'm not a coder). I have read a review about it and it should get easier sometime later.
But I'm also not a delegator because PoS validating / delegating is still not clear by German law. Austria has defined a law which will be applicable in February but Germany has not published such a law yet.

Avalanche has a capped supply anyways. 

Bitcoin still remain number one in the cryptocurrency industries that drive other altcoin in the crypto market which does not mean that altcoin is a scam, many has been invest on altcoin and get a huge return investment, take a look of shiba Inu, which really open so many people eyes on short time investment.

Totally agreed about bitcoin there. Just cant help myself in the financial side to get along with these new projects which shown potential. VCs can be there but sooner or later it could be more decentralized as those coins are leaving those greedy cunts and transfer to a deserving communities.

Wow congrats. I assume you are either a validator or delegating those tokens you have right.

It's really difficult to say what a team is doing with a premine. I'm not saying a premine is 100% negative, there a quite a few reasons for a well-managed premine especially when so many coins are your competition.
Avalanche has some community programs but it's not really transparent how much is allocated.
Aren't devs dumping some coins?
Giving coins to affiliated projects?
Giving coins to friends?
We can't say because it's a centralized premine...
We have to trust the team, like you said.

That's an advantage of Bitcoin, Bitcoin didn't need a premine. Bitcoin was launched in an environment that can't be created again. When the majority of coins was mined, there were an high percentage of people mostly interested in the tech. No greedy VCs etc.
Such a situationcan't be created again.

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Yes.  

I really have found some opinions and also thought about this and actually this exactly happened in the crypto industry. Many people hate altcoins so much but they are still doing those following lists.
Btw, I am a fan of Bitcoin, the first one is for Bitcoin. But, I am not a hater of all altcoins. I mean that I will not generalize all altcoins are scams and only Bitcoin that is legit.
I wonder that many altcoins may be scams, shit, or others. But most doesn't mean all.
Some altcoins still have very good fundamentals and they are also used for good utility.
I am sure that many people are also aware of this condition. Some altcoins are also worthy to trade or invest. But we cannot also ignore that there are so many shitcoins and scam coins coming to again and again.
That is why we must be more and more careful and smarter in choosing the altcoins if we mind to.

Yeah, it's about the generalization that they give to every altcoin that it's a scam. But the thing is, there really are scam projects and altcoins but there are also legitimate projects and altcoins that shouldn't be ignored by them.

That makes them think and say that all of them are scams and if there's going to change their minds, we don't know what's that because that's their firm belief on it.

Then that is truly a remarkable conviction patronising bitcoin. Salute you for that sir!


I'm pretty sure it's the same thing when you weigh your description.


I'm not sure, since they disclosed that on vesting which is saw on blockchain. Maybe some aren't transparent but I'm sure the one I invested aren't like that.

Just like you said. Nobody know Satoshi asset on bitcoin, and surely we also don't know if his only wallet are disclose how about potential other wallets. We knew how smart he was. I'm not saying he have a dummy account but probably could right? Point is, those who have vested tokens on the team deserved some tokens whether it's a huge one or not. Of course it's scary that they could dump that anytime but that's where the team uses burning of tokens to prove to community their sincerity. I likely defend some cause I live with the altcoin world. But I understand your perseverance to warn others about altcoin since few got dark plans and hidden agenda. We also on altcoins don't want that who want ls that anyway.

It is one of my goals.

There is no lock at all. In fact they sold a tiny portion of it to become millionaires some time ago. They are now trying to push the weaker algorithm (PoS) so that they can print money out of thin air by just owning that huge premine and then sell that without selling their main stash.

You can't seriously compare the two. First of all nobody knows how much bitcoin Satoshi owns and secondly any block that Satoshi mined could have been mined by anyone else (many of them have) whereas any premined coins could not be acquired by anyone else they were printed out of thin air with no cost or work.

Among all the criticism you said. At least you get to recover it with this statement. Yes they got huge premine, but we all knew there is some lock on that and I'm pretty sure with their current status now, they wouldn't be greedy to dump that on the investors just like that. We can't deny that most of alternative coins have premine, but what could we do about it right? Satoshi have his own share of btc I guess but he didn't spend it or dump it. All I can say is trust the system. Avalanche will be one of the top coin out there and definitely will happened. Just like you said, eth is slow now and we're looking for new one that can compete what they lack and that's is scaling.

BTW you still hodl your avax?

Yes, Avalanche is an Altcoin where I see at least some innovation happening. It's a great technology behind it but still some classic Altcoin issues like PoS = rich getting richer, where it's no problem for rich people to increase owned stakes easily at cost of normal participants. Luckily, Avalanche has a capped supply but I would be very happy to see the "rich getting richer" problem adressed by the devs. PoW is far superior here.
And Avalanche has a huge dev premine. Especially for a PoS coin, a huge dev premine is clearly a centralization issue.

But out of all Altcoins, I would say: Avalanche is a promising coin, because it's still very new and when it's getting decentralized over time by a supportive community, I beleive it has potential to flip ETH, especially if ETH 2.0 gets delayed again for a long time.

It will always stand that wr have legit altcoins and the shitcoins/scamcoins in the blockchain space because of some selfish individuals but this can not extinguish our passion for these digital coins.
And btw when we make comparisons between the two i think we are being affair as we should look at these to be compliments to each other and not competitor's of some sort. Crypto is here to stay so lets inbrace both coin families.

Well,  I don't particularly like the "BTC vs. altcoins" thing. As far as I'm concerned, they're all cryptocurrencies.
Sure, BTC is the first one. Nobody can take that away from them. But to say only BTC is a true cryptocurrency is like saying Mercedes is the only car in the world.
There are lots of scams, that's also true. There also are, as of now, almost 17000 cryptocurrencies listed in Coinmarketcap, and a lot of them are NOT scams. Sure, if you only go for BTC you greatly reduce the risk. If you go for the top 10, you will also reduce it (albeit a bit less), and so will you if you go for the top 100. You just have to keep an eye on it. After all, it's your money.
Now, if you want to just buy crypto and forget about it, I guess BTC is a no brainer. But also is ETH, for example. There's no way you can lose money on either one.

It's not about use case in different countries they are questioning but actual real world use case. Their main argument is you don't really need a different crypto for a particular project because a utility tokens' main purpose is to be use as a payment method within that ecosystem. Some of the use cases like staking, governance, and other stuffs are just made up.

Okay so i will call myself as bitcoin optimist and long term btc investor and holder and if you can call me by the term maximalist thn it's completely fine with me because i don't trust any altcoins anymore because of plenty of the reasons but i would not call them scam even though but only shitcoins as pooya87 have already said.I will make more clarification on this part:

1) Scam coins : They are the altcoins that have come into the market with the intention of rugpull and scam people through raising funds and then pumping up the coins which will be followed by team running away and network shutdown.There were some instances of these scam coins like the most famous bitconnect and the latest one Squid game tokens which was the case of rug pull.So they are completely dead and people loose funds forever.

2) Shitcoins : The term is associated with altcoins that have no potential to grow and serve zero utility to the holders.For example if you were holding some meme coin then what's the use case of them? They were rising only due to influence of Musk and you know people are blind by the greed and started investing in them but after the whales took out the profits the prices crashed and billions were faded away from the market.Doge was reaching higher and higher in top 10 on CMC but now see it's not anymore.So the shitcoin is like they can rise or not as there is no guarantee and have no strong use case.Like they are centralised,less security, high transaction fees and unlimited supply so it makes it shitcoin compared to btc.

So you see for me not all alts are scam because your funds are safe but not grow in them and some are really scam so you need to be extra cautious with them.

I have made several threads for the same like this one : Reasons why I prefer Bitcoin over any other assets and dips don't panic me....