Bitcoin destroys altcoins in every bear season, sometimes I even feel like, bear cycles only exist to get rid of shitcoins from the market.
After every bear, bulls arrive. This time is no different.
Topic: Can Bitcoin Destroy Crap Altcoins? (Read 943 times)
The irony is, bitcoin is the reason why altcoins are created today. Almost all of these alts are created for the sole reason of being an alternative to bitcoin. Litecoin for example, was created as the 'lighter' version of bitcoin, and since then a lot of alts have claimed to be something that complements bitcoin, if not intending to replace it. Bitcoin will always have the upper hand due to first mover advantage, but it doesn't necessarily mean that it could destroy competitions/alts. It has other use cases, and while alts are mostly used for pumps and dumps, you can't deny the fact that some of them are notable for packing in too much utility into one single coin and that's the beauty of having lots of alts.
Bitcoin and the crap altcoins shouldn't be compared, because both were entirely different. Bitcoin with its technology gained the value and the same slowly makes the progress out of the demand to the supply market. Majority of the altcoins doesn't have minimum viable product, they just try tokenise and gain revenue out of it. Nowadays to stay strong the altcoins need to cross several barriers. Very few altcoins does it, even few will fail from that list. So, altcoins gets destroyed itself and bitcoin doesn't do anything on it.
OP hasn't checked what's new. He began the topic asking questions but isn't concerned about reading replies so we're all wasting time.
Bitcoin have nothing to do with altcoins whatever good or bad ones because in the end it's for people to create and promote this coins, crypto is decentralized and people have the right and abilities to do whatever they want and it's for other users to believe and invest in their products or not
Many altcoins will eventually die all because they are losing the market they are targetting and once that can happen it will only take some time before they can be forgotten in the annals of cryptocurrency history. And am sure it will not be Bitcoin that killed them but the market itself...why would you continue trusting to many platforms that got many flaws and at the end will be the reason people lost money? One thing for sure, in this market people are not stupid and they will not anymore be conned by a fraud like Sam Bankman Fried.
The two don't necessarily have to survive one. Bitcoin has been No. 1 from the very beginning, and no one can shake it. The altcoin team will naturally destroy it if they make enough money. They don’t want us to do anything. Their purpose is just to make money.
perfect answer and this is why we also wanted to earn from those coins , admit it but almost everyone of us tried to invest or still investing in altcoin for a sole target and that is to earn easily while Holding our Bitcoin for long term plans right?bitcoin will always be our first choice but we should diversify and that is to put at least some part of our investments in altcoins.
Bitcoin is a currency that has a lot for the future and more to offer for the policies of the economies in the world, why are they not. controlled by governments or by banks or by anyone, and that is what makes it so free and that people who want to have it can have it very easily, there is no other currency that can match it, if we start looking for more ways safe to trade, there aren't any or someone might come out saying they can do 100x when X coin goes up, there's always someone like that.
The two don't necessarily have to survive one. Bitcoin has been No. 1 from the very beginning, and no one can shake it. The altcoin team will naturally destroy it if they make enough money. They don’t want us to do anything. Their purpose is just to make money.
perfect answer and this is why we also wanted to earn from those coins , admit it but almost everyone of us tried to invest or still investing in altcoin for a sole target and that is to earn easily while Holding our Bitcoin for long term plans right?bitcoin will always be our first choice but we should diversify and that is to put at least some part of our investments in altcoins.
Gambling is always exciting because of the high odds and high profits. In this case, many users or speculators don't care what the altcoin is? who? What is the economic model. What they care about is whether there is room for appreciation of 100 times, when is the best time for me to make a move, and everything else is irrelevant.
The two don't necessarily have to survive one. Bitcoin has been No. 1 from the very beginning, and no one can shake it. The altcoin team will naturally destroy it if they make enough money. They don’t want us to do anything. Their purpose is just to make money.
perfect answer and this is why we also wanted to earn from those coins , admit it but almost everyone of us tried to invest or still investing in altcoin for a sole target and that is to earn easily while Holding our Bitcoin for long term plans right?bitcoin will always be our first choice but we should diversify and that is to put at least some part of our investments in altcoins.
The two don't necessarily have to survive one. Bitcoin has been No. 1 from the very beginning, and no one can shake it. The altcoin team will naturally destroy it if they make enough money. They don’t want us to do anything. Their purpose is just to make money.
perfect answer and this is why we also wanted to earn from those coins , admit it but almost everyone of us tried to invest or still investing in altcoin for a sole target and that is to earn easily while Holding our Bitcoin for long term plans right?bitcoin will always be our first choice but we should diversify and that is to put at least some part of our investments in altcoins.
The questionable situation for altcoins is that if they are all tied to bitcoin then maybe we shouldn't expect them to make this much fuss about anything at all? I mean how could a coin be any good if it is all based on what bitcoin will do?
I am not just talking about price, of course price is the main discussion here, but if bitcoin can crash really hard and still survive, and the altcoin world has some alts in there which can't really go down and survive, then what's the point of them? I think if any coin could go down like bitcoin does and then recovers like bitcoin does then those coins are good, if they can't then they deserved to stay down.
I am not just talking about price, of course price is the main discussion here, but if bitcoin can crash really hard and still survive, and the altcoin world has some alts in there which can't really go down and survive, then what's the point of them? I think if any coin could go down like bitcoin does and then recovers like bitcoin does then those coins are good, if they can't then they deserved to stay down.
The two don't necessarily have to survive one. Bitcoin has been No. 1 from the very beginning, and no one can shake it. The altcoin team will naturally destroy it if they make enough money. They don’t want us to do anything. Their purpose is just to make money.
perfect answer and this is why we also wanted to earn from those coins , admit it but almost everyone of us tried to invest or still investing in altcoin for a sole target and that is to earn easily while Holding our Bitcoin for long term plans right?bitcoin will always be our first choice but we should diversify and that is to put at least some part of our investments in altcoins.
With the decline in the price of bitcoin today, of course, many old or new projects are difficult to survive if the project is not fully reliable in investing, Many junk coins are now starting to lose trading volume and they will be lost in every market, and this is indeed a way to clean up coins that are no longer useful and the market will be better at carrying out the transaction process without any problems with the garbage coins.
The two don't necessarily have to survive one. Bitcoin has been No. 1 from the very beginning, and no one can shake it. The altcoin team will naturally destroy it if they make enough money. They don’t want us to do anything. Their purpose is just to make money.
perfect answer and this is why we also wanted to earn from those coins , admit it but almost everyone of us tried to invest or still investing in altcoin for a sole target and that is to earn easily while Holding our Bitcoin for long term plans right?bitcoin will always be our first choice but we should diversify and that is to put at least some part of our investments in altcoins.
There will always be high-risk startups that receive VC funding and conduct initial coin offerings (ICOs). If colored bitcoins could be integrated natively, many networks like ethereum, bsc, etc. would be devastated, at the very least, by Bitcoin. Although Bitcoin does not guarantee privacy due to centralized exchanges, privacy coins would still be around and flourish.
the only altcoin that can survive the current bear market and match bitcoin is ethereum. when the bitcoin price crashes ethereum is more likely to follow the movement of bitcoin. I even held ethereum since it was still under $200 and got a lot of profit and also held Bitcoin a few bitcoins at that time.
Bitcoin became the center of all altcoins and bitcoin was able to destroy all the trash altcoins that only take advantage of every moment to attract investors in and get trapped.
It is true that the only fundamental altcoin that has been able to survive a bear market is Ethereum. Ethereum's market cap is under bitcoin, currently ethereum is at 11.8% cap if my memory serves me correctly, this is in line with one of the potential altcoins that can survive a bear market. Ethereum uses the concept of smart contracts to run and Ethereum has also been renewed through a process called PoS.Bitcoin became the center of all altcoins and bitcoin was able to destroy all the trash altcoins that only take advantage of every moment to attract investors in and get trapped.
Most altcoins follow the bitcoin moment and are more likely to follow the market reactions generated by bitcoin, which is why many altcoins lack fundamentals and cannot survive bear markets.
There are many advantages in investing in bitcoin, besides being able to maintain value, bitcoin is also the best investment for the future, so many people choose and try to invest in it, bitcoin has a certain period of time that can provide large returns. This timeframe is the market condition in the highest quarter (bullish). There are many considerations that make people choose bitcoin, besides that there are also many facts that show the existence of bitcoin today.
While altcoins are more volatile and have many other drawbacks, the utility interest of the investors involved is also less strong, making them more easily lost in the market. Except for potential altcoins which are fundamental and able to survive when market conditions are in a severe correction.
the only altcoin that can survive the current bear market and match bitcoin is ethereum. when the bitcoin price crashes ethereum is more likely to follow the movement of bitcoin. I even held ethereum since it was still under $200 and got a lot of profit and also held Bitcoin a few bitcoins at that time.While altcoins are more volatile and have many other drawbacks, the utility interest of the investors involved is also less strong, making them more easily lost in the market. Except for potential altcoins which are fundamental and able to survive when market conditions are in a severe correction.
Bitcoin became the center of all altcoins and bitcoin was able to destroy all the trash altcoins that only take advantage of every moment to attract investors in and get trapped.
I am a supporter of a theory, that Bitcoin does not destroy crap altcoins, not does any effect on them, but all those crap altcoins destroys themselves, or die itself, or have a very-very short life. Why even bother, if there is nothing behind those altcoins. Ideas isnt new or primitive. It looks that all those crap altcoins kill each other while fighting for a spot on the market. Like there is a Bitcoin that lives his own life, and there are all others that live, fight, appear and die somewhere in other place, despite everyone is being in the same crypto market.
That is sort of true. Bitcoin gives people an out from those dying ones, so it is playing just a bit of part but people would get out of them and would go into the fiat world if there wasn't bitcoin, only a handful of people would stay with the dying altcoins if there was no bitcoin, and they wouldn't go to fiat. So that means all those shitcoins that die? They die because they are terrible and there is nothing that we could do to make it change in any way or shape.I do not fully agree that people who are caught in a dying altcoin will jump directly to Bitcoin. Other altcoin holders often goes to another altcoin that has the potential to explode 10x to 100x in just a short period of time. I think many investors don't have enough patience to wait for Bitcoin to rally so they tend to buy an altcoin that has potential to go up in price.
Although Bitcoin is proven to be the best option for long-term holding, many investors wants their money to keep on cycling and not just to become idle for many years.
I want to ask you, if the altcoins you are holding are dying and you are not switching to bitcoin but want to move to other potential altcoins. So how can you find potential altcoins when your first choice has failed? I believe that people who lose money investing in altcoins will switch to bitcoin immediately, because they won't want to lose any more money.
I am a supporter of a theory, that Bitcoin does not destroy crap altcoins, not does any effect on them, but all those crap altcoins destroys themselves, or die itself, or have a very-very short life. Why even bother, if there is nothing behind those altcoins. Ideas isnt new or primitive. It looks that all those crap altcoins kill each other while fighting for a spot on the market. Like there is a Bitcoin that lives his own life, and there are all others that live, fight, appear and die somewhere in other place, despite everyone is being in the same crypto market.
That is sort of true. Bitcoin gives people an out from those dying ones, so it is playing just a bit of part but people would get out of them and would go into the fiat world if there wasn't bitcoin, only a handful of people would stay with the dying altcoins if there was no bitcoin, and they wouldn't go to fiat. So that means all those shitcoins that die? They die because they are terrible and there is nothing that we could do to make it change in any way or shape.I do not fully agree that people who are caught in a dying altcoin will jump directly to Bitcoin. Other altcoin holders often goes to another altcoin that has the potential to explode 10x to 100x in just a short period of time. I think many investors don't have enough patience to wait for Bitcoin to rally so they tend to buy an altcoin that has potential to go up in price.
Although Bitcoin is proven to be the best option for long-term holding, many investors wants their money to keep on cycling and not just to become idle for many years.
That is why I believe that it is important to pick the right altcoins, if you do not know what you are doing then you are going to end up with one of them of your own and you are going to regret the day you didn't do your research well enough.
True we should be more vigilant when dealing with altcoins. We must keep ourselves updated because many altcoins tends to do a swap which renders old coins useless.
I am a supporter of a theory, that Bitcoin does not destroy crap altcoins, not does any effect on them, but all those crap altcoins destroys themselves, or die itself, or have a very-very short life. Why even bother, if there is nothing behind those altcoins. Ideas isnt new or primitive. It looks that all those crap altcoins kill each other while fighting for a spot on the market. Like there is a Bitcoin that lives his own life, and there are all others that live, fight, appear and die somewhere in other place, despite everyone is being in the same crypto market.
That is sort of true. Bitcoin gives people an out from those dying ones, so it is playing just a bit of part but people would get out of them and would go into the fiat world if there wasn't bitcoin, only handful of people would stay with the dying altcoins if there was no bitcoin, and they wouldn't go to fiat. So that means all those shitcoins that die? They die because they are terrible and there is nothing that we could do to make it change in any way or shape.That is why I believe that it is important to pick the right altcoins, if you do not know what you are doing then you are going to end up with one of them of your own and you are going to regret the day you didn't do your research well enough.
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