I consider altcoin to be sometimes positive because you can test or observe some inovations and their development on alt-chains, without risking on running the same modifications
on live bitcoin blockchain. Who knows, maybe some of the good features some altcoin's have get implemented to bitcoin as well.
In any other way, especially in speculation and investments, i wouldn't even touch altcoins as i don't consider them to be nothing more than for testing purpuses only, whatever they claim to represent..
Topic: Bitcoin without Altcoin ? - page 66. (Read 67962 times)
Altcoins provide a means to earning Bitcoin by trading/mining less expensive coins. I do not think they detract anything at all, although there are many scams and shitcoins, they offer a wider range of options to earn Bitcoin, store their value, speculate, learning, and allowing people without money to get their hands into some Bitcoin, by obtaining altcoins in giveaways or through mining and buying them.
Bitcoin would be more of an elite thing without altcoins. More oriented to people who have the money to buy it or mine it.
Bitcoin would be more of an elite thing without altcoins. More oriented to people who have the money to buy it or mine it.
BTC will still survive without other cryptocurrency, but it'll grow really slow.. and since growing it via alt-coin trading became impossible, there will be so many people left it behind because of the slow growing progress. Finally, there will only serious btc-lover who still uses it.
Well alt coins are an essential part of the Crypto-Currency ecosystem. BTC is not mature enough to be used for a true investment vehicle unless you like having to hold for years. It doesn't serve well as a currency either given its volatile price movements. In terms of speculation, alts are great.
The altcoins may have diluted a chunk of market share from bitcoin. Looks like about 1/5th of all money in crypto has been sunk into the altcoins.
Not that bad actually, because they are also bought using bitcoin, which boosts the need for bitcoin as well.
Not that bad actually, because they are also bought using bitcoin, which boosts the need for bitcoin as well.
I just wanted to get your opinions on this one , what do you think Bitcoin would be if there was no Alternative coins such Litecoin & Dogecoin and the others ...
I mean it would be better with or without them Bitcoin would have no value at all ?
I mean it would be better with or without them Bitcoin would have no value at all ?
Altcoins are good for testing and for doing some research. And if something is useful it can be implemented in Bitcoin. Therefore altcoins deserve their space.
But the main reason why altcoins popped out from the ground like mushrooms was the crazy bubble in late 2013 of Bitcoin. From that moment on many devs just thought they could make a quick buck.And to be honest it worked out very well for a few.
But none of these altcoins will have any bigger effect or could be a real threat to Bitcoin.
A few however may have a good chance to exist beside our giant. Coins with stealth technology like Monero, Dash could be highly demanded in the future in "certain niche markets".
negatives
if it wasnt for altcoins, some premined scam coins would not exist, stealing real bitcoin value and leaving users holding a bag of s**t coins
if it wasnt for altcoins, some premined scam coins would not exist, stealing real bitcoin value and leaving users holding a bag of s**t coins
I really think that this is the only one problem about altcoins at the moment. From my point of view alts are not so bad, they are giving something like more liquidity to the ecosystem ( well you know... at least few of them ), besides that, i dont see any problems related with alt coins.
During the 2013 bubble people saw altcoins getting pumped crazily and bought Bitcoins to buy the altcoins with. Those altcoin buyers were pumping so much money through Bitcoin that I think it helped sustain Bitcoin's high price for longer than it would have held up if there were no altcoins.
Competition is good. Just like bitcoin is competing and providing alternative to current financial system and operations, the same altocoins do for bitcoin.
Also bitcoin has its own limitations, and is not perfect solution to every possible use case of a cryptocurrency. For example, confirmation time of 10 minutes (often more) is too long for many cases. So they may use litecoin, which is faster. Others may not like the fact that bitcoin is not fully anonymous. They might use monero in some cases. Also there are objections to bitcoin mining, which is just generating heat. Why not use mining power to do something useful with it, like in gridcoin?
Also bitcoin has its own limitations, and is not perfect solution to every possible use case of a cryptocurrency. For example, confirmation time of 10 minutes (often more) is too long for many cases. So they may use litecoin, which is faster. Others may not like the fact that bitcoin is not fully anonymous. They might use monero in some cases. Also there are objections to bitcoin mining, which is just generating heat. Why not use mining power to do something useful with it, like in gridcoin?
I just wanted to get your opinions on this one , what do you think Bitcoin would be if there was no Alternative coins such Litecoin & Dogecoin and the others ...
I mean it would be better with or without them Bitcoin would have no value at all ?
I mean it would be better with or without them Bitcoin would have no value at all ?
Altcoins are good for testing and for doing some research. And if something is useful it can be implemented in Bitcoin. Therefore altcoins deserve their space.
But the main reason why altcoins popped out from the ground like mushrooms was the crazy bubble in late 2013 of Bitcoin. From that moment on many devs just thought they could make a quick buck.And to be honest it worked out very well for a few.
But none of these altcoins will have any bigger effect or could be a real threat to Bitcoin.
A few however may have a good chance to exist beside our giant. Coins with stealth technology like Monero, Dash could be highly demanded in the future in "certain niche markets".
I just wanted to get your opinions on this one , what do you think Bitcoin would be if there was no Alternative coins such Litecoin & Dogecoin and the others ...
I mean it would be better with or without them Bitcoin would have no value at all ?
I mean it would be better with or without them Bitcoin would have no value at all ?
More money would be in bitcoin, meaning the price would be higher.
However, I don't see those as a competition. Some coins have a function (f.e. tipping etc.). Non crypto people will be alerted by this and will also start reading & learning about bitcoin. Since bitcoin is the real thing..
I'm not really into alts but I think they have a side benefit. All the people who created alts must have learned a lot about bitcoin in the process. They may help write the next generation of crypto code
Altcoins giving me confidence Bitcoin is really best. After all, in free market the best wins, and Bitcoin market share and useability talk itselves. And yes, so many different variants of Bitcoin were tried (altcoins) yet nothing really better to overtake Bitcoin market share and useability (I dont say it cant happen one day, just saying not happened yet - obviously).
Altcoins sure brought a lot of people to Bitcoin. I think Bitcoin wouldn't be much different without altcoins, but it would definitely have less users/a slower adoption. Altcoins also brought many people aboard thinking that cryptocurrencies was a get rich fast scheme and many fell for that... Making some quite rich.
Altcoins are dependend on bitcoin, but not the other way. So altcoins dont influence bitcoin in any way(unless some altcoin is worth more than bitcoin). But altcoin trading is a big business and it shouldnt actually used as a replica of bitcoin - it should be a way of experimenting with cryptocurrencies.
I think if Bitcoin going to make it is to have some challenges from Altcoins
All the altcoins come and go but they have all in a way promoted bitcoins. However, bitcoin has been independent compared to the other coins and people who have invested in dogecoin and other coins and switching back to BTC considering that it is more popular and worth buying.
An article: http://bravenewcoin.com/news/bitcoins-value-altcoins/
An article: http://bravenewcoin.com/news/bitcoins-value-altcoins/
positives:
if it wasnt for altcoins, then mining pool owners wouldnt be making as much profit from the merge mining that happens. thus they would attempt to milk the miners more, which would increase the tx fee war, where miner are trying to get more reward.
if it wasnt for altcoins, then some of the exchanges wouldnt have a business. seeing as some of them do not want to handle fiat due to the fiat regulations, they would be nothing to value bitcoin against without altcoin.
if it wasnt for altcoins, then people would not have as much freedom to play around making their own code, and be more forced into the bitcoin consensus of the github, where change takes forever and freedoms of creativity are limited to the security of bitcoin.
negatives
if it wasnt for altcoins, some premined scam coins would not exist, stealing real bitcoin value and leaving users holding a bag of s**t coins
if it wasnt for altcoins, then mining pool owners wouldnt be making as much profit from the merge mining that happens. thus they would attempt to milk the miners more, which would increase the tx fee war, where miner are trying to get more reward.
if it wasnt for altcoins, then some of the exchanges wouldnt have a business. seeing as some of them do not want to handle fiat due to the fiat regulations, they would be nothing to value bitcoin against without altcoin.
if it wasnt for altcoins, then people would not have as much freedom to play around making their own code, and be more forced into the bitcoin consensus of the github, where change takes forever and freedoms of creativity are limited to the security of bitcoin.
negatives
if it wasnt for altcoins, some premined scam coins would not exist, stealing real bitcoin value and leaving users holding a bag of s**t coins
Nothing important really. They mostly just come and go, so they carry little effect with themselves. But they do promote use of Bitcoins, if people are buying them with Bitcoins,
In my opinion, only few alts have purpose in Bitcoin ecosystem. I dont want to mention any specific coin, just Bitcoin need some anon alternative when you dont want to anyone track your transactions. Other than that, maybe some faster coin, but all others are just shitcoins if you ask me.
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