well, number of altcoins is increasing - but quality?
although someones say that most coins has nothing to be represented. Even those which placed in top ...10 mb
shit borns shit
Topic: Bitcoin vs increasing number of altcoins (Read 231 times)
Hi all,
do you agree that the growing number of altcoins will eventually make bitcoin price go down since even small amounts of users money go to them?
Definitely no, cause bitcoin is a bitcoin and for me there is no chance that any altcoin can have anything to say about its price, is it individual thing in this case for me. do you agree that the growing number of altcoins will eventually make bitcoin price go down since even small amounts of users money go to them?
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And thats why its on top 2 marketcap and people are still using its blockchain, youre the smart one and many people are just dumb hue hue hue. Nice opinion professor
And thats why its on top 2 marketcap and people are still using its blockchain, youre the smart one and many people are just dumb hue hue hue. Nice opinion professor
it is number 2 because your list of "top" coins is sorted based on a false factor called market capitalization. and it is there because in a blinking of an eye it created 72 million coins out of thin air and every day since its creation it has been producing ~30,000 per day in block rewards (currently 17000 per day).
exclude the premined coins and your "top" list will be rearranged with ETH in rank #5!
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And thats why its on top 2 marketcap and people are still using its blockchain, youre the smart one and many people are just dumb hue hue hue. Nice opinion professor
And thats why its on top 2 marketcap and people are still using its blockchain, youre the smart one and many people are just dumb hue hue hue. Nice opinion professor
it is number 2 because your list of "top" coins is sorted based on a false factor called market capitalization. and it is there because in a blinking of an eye it created 72 million coins out of thin air and every day since its creation it has been producing ~30,000 per day in block rewards (currently 17000 per day).
exclude the premined coins and your "top" list will be rearranged with ETH in rank #5!
In my opinion, the price wont go down just because of it, but it will grow slower than before, because money is limited and people have to choose.
Who would choose shitcoins though? These are basically cash grabs and pretty much everyone knows it. What usually happens is once when people are done making money with them, they dump and move their money (which had grown at this point) to Bitcoin. So maybe it could be said that they actually help Bitcoin growth? Lol.
It's true that legit ones could take money away from Bitcoin though, but they're very few and very far between. This isn't even necessarily a bad thing, because competition could also drive growth up.
Do you even know there is a coin called Ethereum?
haha, ethereum is shittier than most of them combined.
it is centralized, it is not immutable, it is slow to sync, it is incapable of handling large number of transactions, there has never been a good and clear plan for its future, it was created with the purpose of pump and dump, it is premined, it has lots of exploits and bugs that have led to millions of dollars lost in multiple occasions, the official wallet has already had 2 major exploits leading to big hacks,....
it was created with the purpose of pump and dump
Care to explain this a bit more? I'm not aware of this.
they die and meat their inevitable doom.
Did somebody say meat?
we currently have somewhere around 1500 altcoins instead of having 500,000 of them.
It certainly feels as though there are 500,000 of them. Where can I find a reliable source on the amount of altcoins in existence/circulation? It looks like there's about 1,500 altcoins announcing ICOs on this forum every month.
and here is the graveyard: https://deadcoins.com/
past 9 years bitcoin price was not affected by them in the long run!
I agree. They've certainly caused quite a few hiccups along the way though. It's almost like the altcoins are protesting while Bitcoin has the main stage just to grab a bit of attention. It's annoying, but the show must go on! I don't realistically see any altcoin threatening the price of Bitcoin long term, unless one of them finally brings an innovation or creative solution of some kind to the market.
I think when the price of bitcoin be high the price of altcoin will be automatically high so in contrary when the number of altcoins increasing her price depend on price of bitcoin
it was created with the purpose of pump and dump
Care to explain this a bit more? I'm not aware of this.
they die and meat their inevitable doom.
Did somebody say meat?
we currently have somewhere around 1500 altcoins instead of having 500,000 of them.
It certainly feels as though there are 500,000 of them. Where can I find a reliable source on the amount of altcoins in existence/circulation? It looks like there's about 1,500 altcoins announcing ICOs on this forum every month.
past 9 years bitcoin price was not affected by them in the long run!
I agree. They've certainly caused quite a few hiccups along the way though. It's almost like the altcoins are protesting while Bitcoin has the main stage just to grab a bit of attention. It's annoying, but the show must go on! I don't realistically see any altcoin threatening the price of Bitcoin long term, unless one of them finally brings an innovation or creative solution of some kind to the market.
In my opinion, the price wont go down just because of it, but it will grow slower than before, because money is limited and people have to choose.
Who would choose shitcoins though? These are basically cash grabs and pretty much everyone knows it. What usually happens is once when people are done making money with them, they dump and move their money (which had grown at this point) to Bitcoin. So maybe it could be said that they actually help Bitcoin growth? Lol.
It's true that legit ones could take money away from Bitcoin though, but they're very few and very far between. This isn't even necessarily a bad thing, because competition could also drive growth up.
Do you even know there is a coin called Ethereum?
haha, ethereum is shittier than most of them combined.
it is centralized, it is not immutable, it is slow to sync, it is incapable of handling large number of transactions, there has never been a good and clear plan for its future, it was created with the purpose of pump and dump, it is premined, it has lots of exploits and bugs that have led to millions of dollars lost in multiple occasions, the official wallet has already had 2 major exploits leading to big hacks,....
In my opinion, the price wont go down just because of it, but it will grow slower than before, because money is limited and people have to choose.
Who would choose shitcoins though? These are basically cash grabs and pretty much everyone knows it. What usually happens is once when people are done making money with them, they dump and move their money (which had grown at this point) to Bitcoin. So maybe it could be said that they actually help Bitcoin growth? Lol.
It's true that legit ones could take money away from Bitcoin though, but they're very few and very far between. This isn't even necessarily a bad thing, because competition could also drive growth up.
Do you even know there is a coin called Ethereum?
In a free market there will always be a competition. I have no doubt, that as soon as cryptocurrency becomes widely accepted - very many altcoins will become equal or even more important than Bitcoin.
Many people are wondering this because BTC dominance is going down. But market cap isnt a great way to look at a coin tbh.
Extreme example:
What you must remember is that if shitcoinA mints 70billion coins and sells one for 1$. The volume then stands still. We will see a massive drop in BTC dominance. ShitcoinA would have about half of BTC's market cap at this point.
If it doesn't ever get traded again then its value will be added to the total market cap and in turn reflect poorly on BTC. However if people start trading it, then odds are the price instantly tanks.
Keeping this analogy, we have bad hodlers of bad projects who keep asking "When moon, when LAMBO !". These coins have zero trade volume and they wont be able to hold on to their price the second that a whale sells. Thus as more scamcoins get released we will see BTC dominance going down since the shitcoins need to have some measurable value in the market.
I mean heck, look even bitconnect still has a 13 million dollar market cap. So if we are pondering if something can really contend with bitcoin, it is not only the market cap measurement, but actual volume and use in our young ecosystem.
Extreme example:
What you must remember is that if shitcoinA mints 70billion coins and sells one for 1$. The volume then stands still. We will see a massive drop in BTC dominance. ShitcoinA would have about half of BTC's market cap at this point.
If it doesn't ever get traded again then its value will be added to the total market cap and in turn reflect poorly on BTC. However if people start trading it, then odds are the price instantly tanks.
Keeping this analogy, we have bad hodlers of bad projects who keep asking "When moon, when LAMBO !". These coins have zero trade volume and they wont be able to hold on to their price the second that a whale sells. Thus as more scamcoins get released we will see BTC dominance going down since the shitcoins need to have some measurable value in the market.
I mean heck, look even bitconnect still has a 13 million dollar market cap. So if we are pondering if something can really contend with bitcoin, it is not only the market cap measurement, but actual volume and use in our young ecosystem.
Bitcoin will lose its percentage of market cap. Lots of projects starting up all the time. If any of them are competitive in the real world they will absorb some market share.
Bitcoin is so heavily manipulated by whales its not funny. I wouldn't mind watching it die a quick death. Tokens with real utility and teams will survive and continue to bring in the non-speculative bucks if they have a real product/service.
Bitcoin is so heavily manipulated by whales its not funny. I wouldn't mind watching it die a quick death. Tokens with real utility and teams will survive and continue to bring in the non-speculative bucks if they have a real product/service.
do you agree that the growing number of altcoins will eventually make bitcoin price go down since even small amounts of users money go to them?
the answer is so much simpler than you may think!
in the past 9 years there has been nearly the same number of altcoins. at times their number grows but eventually they die and meat their inevitable doom. that is why we currently have somewhere around 1500 altcoins instead of having 500,000 of them. and during past 9 years bitcoin price was not affected by them in the long run!
In my opinion, the price wont go down just because of it, but it will grow slower than before, because money is limited and people have to choose.
Who would choose shitcoins though? These are basically cash grabs and pretty much everyone knows it. What usually happens is once when people are done making money with them, they dump and move their money (which had grown at this point) to Bitcoin. So maybe it could be said that they actually help Bitcoin growth? Lol.
It's true that legit ones could take money away from Bitcoin though, but they're very few and very far between. This isn't even necessarily a bad thing, because competition could also drive growth up.
Hi all,
do you agree that the growing number of altcoins will eventually make bitcoin price go down since even small amounts of users money go to them?
In my opinion, the price wont go down just because of it, but it will grow slower than before, because money is limited and people have to choose. do you agree that the growing number of altcoins will eventually make bitcoin price go down since even small amounts of users money go to them?
do you agree that the growing number of altcoins will eventually make bitcoin price go down since even small amounts of users money go to them?
that's not how it works. market interest in altcoins makes the price of BTC rise. that's because if you want to buy alts (except major alts like ETH and LTC), you need to buy BTC first. that means less BTC on the sell-side of BTCUSD = higher prices.
the existence of altcoins might dilute prospective investment in BTC---money that otherwise would have gone into BTC sometimes goes into alts. but that doesn't drive the price of BTC down because those people aren't selling for fiat.
Nearly every other day new shit coins are coming out but that doesn't mean that they are not profitable. Bitcoin as it stand is going to be number one for a while, most coins will always be linked back to bitcoin.
The number of altcoins isn't what would take BTC lower, it could be one in particular but of course that hard to determine. Some altcoins have taken bitcoin blockchain technology and improved it for their coin, but in general, bitcoin will probably at the top for a while.
No, as altcoins are just mere money-making machines for some traders that don't see any real practical uses for them aside from being their piggy bank. There are thousands of altcoins that are being created every single day but none of them prove real importance to the society aside from a few outstanding ones. Needless to say, even if the whole crypto market is drowned by the presence of these alts, bitcoin would still remain king as it was the 'first' coin that proved useful for people and most services and companies recognize it as a payment method.