Topic: Can too many Altcoin's can become a threat to bitcoin's existence - page 19. (Read 2585 times)

I guess altcoins can't, just think about what bitcoin brought few years ago its been always the great of all time. Also the trust from the investor, would do investing on a new altcoins when there is something big about bitcoin? just think about the big scams most of the ICO did, do you think that would be enough to transfer the crown from bitcoin to another?

There are a lot of altcoins out there and they can have a negative impact on bitcoin as everything invested into an altcoin could have been invested into bitcoin. It is good to have choice in coins but it does not help when they don't really bring anything new to the table.

They can't be bad, they are good for spreading the word about crypto! A lot of different projects are path to a lot of different users. Not everyone is interested in only sending virtual money so they dont get deep in the matter!

I believe the motive of most of these altcoins are as the result of the success story of bitcoin and blockchain technology. The popularity of blockchain technology is on the rise now and as such, many more companies wants to tap into the success story of bitcoin. I believe this is no threat to the supremacy of bitcoin but great addition to blockchain technology.

I personally dont think alts will threaten btc. BTC is the king and will remain the king i also think that with regulation that will eventually occur you will see decrease in shitty alts and only the strong real world use alts will survive.

I don't think that it can make any impact to bitcoin. Every coin or token is different and it will solve different problem or industry in the future. The good thing is, when more and more projects go live, there are more people getting to know about crypto and this will raise it's demand.

Bitcoin is like the digital currency backing all atcoins. Most ICO project prefer that people purchase their coin with bitcoin, meaning bitcoin is kinda the backing currency to their project. This indicates  that, Altcoins are never a threat to bitcoin.

I think having too many altcoin does indeed affect the bitcoin market because it would diminish the overall market cap and thus depreciation in the coins that are worth more value.

alt coins can never be threat to bitcoin. now days thee are too many companies are launching block chain technology but non of them are trustful than existing companies are. and bitcoin is the mother of all currency and probably the first cryptocurrency. yeah alt coin can effect btc value but not too much.

A lot of different altcoyins are not a threat to bitcoin. Rather, if people see the usefulness of altcoyins, they will certainly learn about bitcoin. In themselves, altcoyins, based on tokens, are used in completely different areas of our lives and generally are not in a position to interfere in any way with bitcoin.

I think there is a possibility that bitcoin may be replaced by some altcoin.There's nothing wrong with that.And this should not be excluded.

I do not think so , even how many altcoins surfacing in the market it will bot conquere the popuplarity of bitcoin, the more and more altcoins makes them weak because they are competing with each other while bitcoin is already stable and establish in the market cap ,so it would not be treat for bitcoin the many altcoins.

I don't think any of the altcoin is a threat to bitcoin definitely all of this coin sooner, we will know which will stay and which will survive the race.

I don't think there is a competition between bitcoin and altcoins. Every legit cryptocurrency  has its own purpose. Even if a coin is supposed to replace bitcoin, it's not bad. It can only replace bitcoin if it's better than bitcoin.

I disagree with you. On the contrary, Bitcoin threatens the existence of other crypts. Bitcoin already occupies almost half the market as dominance.

No, i wouldn't say that in any condition. The Bitcoin is the first and the most powerful coin ever. Also the Bitcoin has the %57 market cap so it has big dominance. There are 1000s of altcoin, unfırtunately most of them worthless with the last market lost. So no coin can race with the farthers of coin "The Bitcon"

One way to gauge the "threat level" is by looking at Bitcoin's dominance in terms of percentage of total market cap.  As of today, BTC has around 55% dominance over the rest of the altcoins.  Back in January, the threat of altcoins seemed quite real and alarming while Bitcoin dominance was as low as 32%.  Even then, Bitcoin continued to exist.  One thing to watch out for in the future is if any altcoin overtakes Bitcoin in dominance.  The closest one I've seen almost do it is Ethereum back in June 2017.  If such an event ever came to pass, Bitcoin would still continue to exist.

It is true that many ICOs are coming everyday, but most of these would fail in future, so i don't think that too many altcoins would pose a threat to the existence of bitcoin. Bitcoin is a well-established coins, so new coins wouldn't match it.

I start from the price of bitcoin itself. Basically, bitcoin prices are not influenced by other crypto currencies or often called altcoins. Because Bitcoin has a system and principles that cannot be copied by anyone, and the amount is very limited. So that makes the price of bitcoin is very volatile and unique.

Bitcoin exchange rates are influenced by market demand and supply as well as conventional currencies, the difference between conventional and controlling entities is that, while bitcoin is not. The bitcoin exchange rate is determined or influenced by the Bitcoin holder itself. The more people who store bitcoin, the more expensive it will be because the market demand or supply is little.

However, along with the development of the crypto currency, there are now many hundreds of smelly currency popping up every day, there are approximately 16 thousands recorded. So that makes investors who have capital a little more interested in buying or storing altcoins than bitcoin. This certainly has an impact on the bitcoin exchange rate, because of the reduced market demand for bitcoin. So that makes the price of bitcoin will certainly decrease.

so according to my understanding, I hope the masters can provide more explanations to improve my understanding of this topic.

Even though there are lots of altcoins and they always claim that their projects are the best, but in reality bitcoin is still the best. And from that it can be concluded that the number of altcoins will not be a threat to bitcoin, and in the end bitcoin will remain the best in crypto.