It seems like most everyone here is in agreement. These shitcoins that are popping up are not going to be any measurable threat to Bitcoin. I've said it many times, but most of these coins that are popping up are bringing absolutely nothing to the market and are simply capitalizing on uninformed people interested in picking a good investment. All roads lead to Bitcoin.
Why do you word this as if it is assumed to be the case, by the way? "Do you agree ... " implies that there is some presupposed stance that we are to contend with. I am interested in some elaboration on that.
Topic: Bitcoin vs increasing number of altcoins - page 2. (Read 266 times)
All altcoin is still based on bitcoin price look the price of altcoin before and now after the bitcoin price correction, altcoins are also affected when the price of bitcoin is decreasing and bitcoin is mainly accepted by local exchanges than altcoin.
If there are many altcoins coming with a good project and development expect that bitcoin is also increased if investors found that the altcoin project and development are good because most altcoin projects are accepting only bitcoin so investors will exchange their money first into bitcoin before they can buy or invest in altcoin.
It's a big help for a bitcoin because altcoin is spreading to the internet and represent bitcoin as their payment.
That is why many people right now are aware what is bitcoin.
If there are many altcoins coming with a good project and development expect that bitcoin is also increased if investors found that the altcoin project and development are good because most altcoin projects are accepting only bitcoin so investors will exchange their money first into bitcoin before they can buy or invest in altcoin.
It's a big help for a bitcoin because altcoin is spreading to the internet and represent bitcoin as their payment.
That is why many people right now are aware what is bitcoin.
Take a look at this website: https://coinmarketcap.com/
If you see at the graphics on the right in the screen, you will perceive that many alts are based on the BTC price, for the graphics usually shows the same patron as BTC.
That basically means that the altcoin market is based on the BTC price.
That's why it is going to be difficult for any of them to overcome BTC, or even making any influence in its price.
Someday, perhaps, a new alt with an improved system can overcome BTC or somehow influence in its value, but, as you can see on the graphics, it hasn' t happen yet.
If you see at the graphics on the right in the screen, you will perceive that many alts are based on the BTC price, for the graphics usually shows the same patron as BTC.
That basically means that the altcoin market is based on the BTC price.
That's why it is going to be difficult for any of them to overcome BTC, or even making any influence in its price.
Someday, perhaps, a new alt with an improved system can overcome BTC or somehow influence in its value, but, as you can see on the graphics, it hasn' t happen yet.
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?
No. I think the opposite (bitcoin price go up) will more likely to happenwhy? because most altcoins markets are based on BTC, or ETH, LTC and other prominent coins
even if new coins accepting fiat money on ICO stage, they will open trade market for BTC
BTC in crypto world is like US$ in real world. Most (if not all) countries accept US$ in their local currency exchange
The same for BTC in crypto world, no altcoins will refuse exchange to BTC
Time will tell 
Sure, with lots of altcoins a good amount of BTC will be traded for those altcoins, but what percentage of those altcoins actually reach high amounts of market cap? VERY VERY LOW. The amount of money moved to the new altcoins will be quite insignificant.
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?
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?
No,
Bitcoins currently has the largest percentage of the total crypto market cap, and as long as the total market cap increases I believe bitcoin value too will keep increasing. Also, bitcoin still remain the entry point for so many newbie crypto investors.
I also agree that an innovative altcoin could take Bitcoin down one day, but it doesn't look like that's gonna happen anytime soon, so I believe bitcoin will be here and still be bitcoin for a long time.
No.
A single, innovative alt coin may take Bitcoin down one day, but thousands of useless alts won't do shit.
I think you underestimate how low the value and traded volume of an alt can go if no one is interested in it.
A single, innovative alt coin may take Bitcoin down one day, but thousands of useless alts won't do shit.
I think you underestimate how low the value and traded volume of an alt can go if no one is interested in it.
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?
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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