Most altcoins are garbage, but there are a few that did advance the blockchain technologies and made us better understanding the cybercurrency. Yet none will ever getting close to bitcoin.
That's maybe true in the present because to be highly developed and to rise sky high like bitcoin now, altcoins need to have enough amount of time and draw plenty of attention to grow. But as time passes by, this might no longer true. Nothing can last forever and so does bitcoin, it will surely be replaced by another crypto coins, what's left now is the matter of time.
altcoin is not dependent on Bitcoin and Bitcoin does not depend also to altcoins but creating an altcoin would be beneficial since you can converts those alts to btc..
ALtcoins are dependent on bitcoins. If you notice on exchangers the only way to purchase or to avail an altcoin is through bitcoin. Why is it? The reason is simple, bitcoin can be exchanged to dollars easily and even to local fiat currencies in many countries while altcoins cannot be. Altcoins still needed to be traded to bitcoins so you can convert it to cash.
On the other hand bitcoin can survive without any altcoins since it is backed up by dollars and not by altcoins.
That is absolutely true that Altcoins are dependent on Bitcoin. Basically altcoins are just smaller cap investments (for the most part, ETH was probably one of the closest to overtaking Bitcoin) that are just even more speculative in nature than Bitcoin is itself.
The removal of Altcoins from the cryptocurrency ecosystem would hurt Bitcoin in the short run but in the long run there probably would be no real difference growth for Bitcoin without Altcoin.
One case where I think Altcoins were very useful is when people wanted to donate to various charities with Dogecoin. That was probably one of the few times I have seen an altcoin used for good and not for speculation.
The thing is for us daily traders, as well investors, we are always searching for the next coin that might get better value over time, soo we split our investments into more then one coin, i do see this as a way to minimize the risk. But lets think if all altcoins die, i will have to risk my money only at bitcoin, soo this should result into a bigger change in the price even with the big price we do already have. For other side, each person would not be able to get or make amazing results and get more extra bitcoins without trading, we would see only people with big purchase power getting bitcoin, something its unrealistic nowadays. Altcoins does allow anyone to start from zero and achieve good results, the same way some people does with currencies when they play forex or do make sport bets.
