Topic: Can so many new alts affect of dilute Bitcoin investments? (Read 994 times)
Also there is the fact that lots of these "innovative" coins and ICOs get funded after all. Otherwise they would not continue to get published day after day. Competition s always good, I m always for that but I wonder how wide can crypto market become before it s saturated.
Well, there is the question. So many new coins and tokens being published on a weekly basis. Can all these coins affect BTC in any way? Can they drive investments away from BTC and if they can, what s the whole point? Personally, I am always for innovations but recently, I cant keep up with all these new opportunities and I do not think the market s wide enough to let all of these coexists.
I totally agree with you that there are many new altcoin are being launch almost weekly but I doubt if they can drive us from bitcoin because you cannot change these altcoin to fiat you still need to convert them to bitcoin ,I think they compliment the power of bitcoin we just need to restrict scam coin to avoid diluting the market..
there always have been so many altcoins in the market and so many being created each month. but they can no affect bitcoin market because 95% of them are just pump and dump coins which have copied their code from another altcoin or bitcoin without any new features.
there is a small percentage (5% in best case scenario) which is good alts but even those are mostly being pump and dumped.
so all these altcoins are only helping investors make more profit on their bitcoin amount.
there is a small percentage (5% in best case scenario) which is good alts but even those are mostly being pump and dumped.
so all these altcoins are only helping investors make more profit on their bitcoin amount.
Heh, BTC seems to be increasing in price. Maybe that negates my question.
Today the price has gone much high than yesterday's. It reached $500 but didn't sustained long. This growth indicates that alts won't affect bitcoin any instance.
It may be just another pump and dump but something tells me we ve got a real deal this time. The fun part is we have 2 more months before halving. Interesting times ahead.
Heh, BTC seems to be increasing in price. Maybe that negates my question.
Today the price has gone much high than yesterday's. It reached $500 but didn't sustained long. This growth indicates that alts won't affect bitcoin any instance.
Most new altcoin will die, but before they die, people need bitcoin to buy them, that will increase the value.
Heh, BTC seems to be increasing in price. Maybe that negates my question.
Nah I don't think, bitcoin will still remain the most popular. In past few months many new alt coins have come but I hardly know or care to know any of them, maybe only eth, which has been somewhat popular but still can't get as much attention as bitcoin.
What about Factom, Lisk and starting tomorrow, DAO? True, these re mostly tokens but still, the principle is the same.
Nah I don't think, bitcoin will still remain the most popular. In past few months many new alt coins have come but I hardly know or care to know any of them, maybe only eth, which has been somewhat popular but still can't get as much attention as bitcoin.
That's exactly what I have been talking about for so long.
The presence of so many altcoins is slowing down bitcoin's growth. The people with invest able surplus is putting their money in to so many coins hence bitcoin is not seeing desired market cap increase and hence the price is moving up slowly.
The presence of so many altcoins is slowing down bitcoin's growth. The people with invest able surplus is putting their money in to so many coins hence bitcoin is not seeing desired market cap increase and hence the price is moving up slowly.
regular people who don't know about crypto currencies and have no prior view about them also don't know about altcoins in the first place to invest in them.
they will first know about bitcoin and know crypto currency as bitcoin then see these copies which are also called "altcoins" so if there is any effect that will be on their view of altcoins not the whole thing.
Doge is likely to have attracted people who didn't really know what Bitcoin was to start with. Similarly you could read up about Ethereum and Bitcoin may not cross your mind in the slightest. It's a very different proposition.
yes but even if you encounter them for the first time and you google the term ethereum you will find all these sites that are talking about bitcoin and also have an article about ethereum.
especial a coin like eth which tried to stick itself to bitcoin from the beginning to rise up by doing this.
regular people who don't know about crypto currencies and have no prior view about them also don't know about altcoins in the first place to invest in them.
they will first know about bitcoin and know crypto currency as bitcoin then see these copies which are also called "altcoins" so if there is any effect that will be on their view of altcoins not the whole thing.
Doge is likely to have attracted people who didn't really know what Bitcoin was to start with. Similarly you could read up about Ethereum and Bitcoin may not cross your mind in the slightest. It's a very different proposition.
it can affect peoples view of crypto currency
I know someone that lost alot of money trying new currencies
and they all went down or failed. He finally gave up on it all
I know someone that lost alot of money trying new currencies
and they all went down or failed. He finally gave up on it all
no not at all.
regular people who don't know about crypto currencies and have no prior view about them also don't know about altcoins in the first place to invest in them.
they will first know about bitcoin and know crypto currency as bitcoin then see these copies which are also called "altcoins" so if there is any effect that will be on their view of altcoins not the whole thing.
The alt space is a laboratory of new ideas, and it is fun to see what they produce and what succeeds and what flops. If only bitcoin then copied all the successful ideas!
But in general this is how things innovate. It is a bit like Henry Ford saying, you can only have black cars, and General Motors coming along and allowing colour. Ford would argue that there was no need for GM and it hurt him, and it did. But the customer benefited.
But in general this is how things innovate. It is a bit like Henry Ford saying, you can only have black cars, and General Motors coming along and allowing colour. Ford would argue that there was no need for GM and it hurt him, and it did. But the customer benefited.
The biggest detriment would be more direct fiat/alt options. There are an increasing amount of outlets for this. Fresh crypto money wants results. Bitcoin looks like a pointless investment if you're looking for mega returns and equally epic losses. Gotta say I wasn't expecting almost all price action to move away from Bitcoin.
I don't think that Altcoins will drive any investment away from Bitcoin. Bitcoin has by far the largest market capitalization. Bitcoin has a first mover advantage. As such, it has the greatest network effect.
Altcoins primarily compete among themselves. For an Altcoin to be significantly successful it is necessary that it either offers a revolutionary better concept than Bitcoin or is linked (as a service) to Bitcoin. Ethereum is successful (for now), because developers realized that it makes no sense trying to outmatch Bitcoin. Instead they chose a symbiotic approach.
Altcoins that do frequent giveaways to people outside the cryptocommunity can be free advertising for Bitcoin. What starts as a fun activity with nearly worthless digital tokens end in investing in the serious cryptocurrency Bitcoin - see for example Dogecoin.
ya.ya.yo!
Altcoins primarily compete among themselves. For an Altcoin to be significantly successful it is necessary that it either offers a revolutionary better concept than Bitcoin or is linked (as a service) to Bitcoin. Ethereum is successful (for now), because developers realized that it makes no sense trying to outmatch Bitcoin. Instead they chose a symbiotic approach.
Altcoins that do frequent giveaways to people outside the cryptocommunity can be free advertising for Bitcoin. What starts as a fun activity with nearly worthless digital tokens end in investing in the serious cryptocurrency Bitcoin - see for example Dogecoin.
ya.ya.yo!
I don't thin so. every currency has its own value. the bitcoin value is increasing day by day, people are investing their money in bitcoin, they are even doing shopping and exchanging in bitcoin so I think bitcoin getting stronger and stronger.
it can affect peoples view of crypto currency
I know someone that lost alot of money trying new currencies
and they all went down or failed. He finally gave up on it all
I know someone that lost alot of money trying new currencies
and they all went down or failed. He finally gave up on it all
+1 to this. If people lose money or get scammed after investing into some alt, there re much less prone towards getting back to BTC.
it can affect peoples view of crypto currency
I know someone that lost alot of money trying new currencies
and they all went down or failed. He finally gave up on it all
I know someone that lost alot of money trying new currencies
and they all went down or failed. He finally gave up on it all
Only of they move from a BTC pair to a fiat pair. Otherwise they support the price of bitcoin.
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