Can too many Altcoin's can become a threat to bitcoin's existence - page 21.

chocolah29

full member

Activity: 588

Merit: 128

Quote from: libert19 on September 18, 2018, 11:29:58 PM

Nope. Just see the current scenario — Bitcoin dips a bit, altcoins dip a lot only strong will survive.

Exactly, this trend tell us everything and what we exactly needed to do.

Altcoin being a threat to bitcoin is just an ambitious move of every altcoin as they're all dreaming that one day they will be on top. Nonetheless, no one will and ever replace on where bitcoin is. The fact that even a lot of bitcoin fork coins were born, trying to imitate what bitcoin had, they even won't touch the bottom of bitcoin.

Don't get confuse with altcoins, some of them were like a rotten ones in crypto sphere.

resty

full member

Activity: 501

Merit: 147

Quote from: AAKODI on September 18, 2018, 11:03:44 PM

More and more ICO projects are coming based on many major currencies and specially in this year the trend increased rapidly with many reputed organizations that are in various industries and trades decided to start there own digital currency to make there business more effective and efficient in order to gain more profit.
Can these new launching Altcoin's make a negative impact on bitcoin's expansion in the future because we all know in order to increase the demand, usability and accessibility of bitcoin it should be widely use in most business areas but if Altcoin's take these opportunities how it can achieve its vision to become a widely used digital currency

No all of these are tying to build up their own business and unfortunately there's some other coin are not succeed to their goal and suddenly it will totally closure but these not the threat to bitcoin it seems like competition being popular and more supporters are win.

Herbert2020

legendary

Activity: 1946

Merit: 1137

look at the history. it will tell you all you need to know. we already have 9 years of history and in this period of time we have had tens of thousands of altcoins that have been created, pumped and dumped and eventually many of them died. there are years that they create more of them like last year since the altcoin pumping market is booming during that time but in the end the fate of shitcoins is always going to be death and their short life and death will never affect bitcoin in any ways.

senin

full member

Activity: 938

Merit: 137

The presence of so many varieties of altcoyins can not in any way damage the bitcoins. In altcoyins, especially for tokens, their functions and tasks, and they are used in narrow spheres of human activity. Bitcoin and altcoins do not practically intersect during their existence.
The presence of a large number of altcoyins, in my opinion, can only benefit bitcoin, because if people first learn about the existence of altcoyins, they will surely afterwards hear and be interested in bitcoin.

Commitments

member

Activity: 532

Merit: 10

Based on how altcoin price is it, many alcoin just be trash and have more drop price and it not better for buying and invest coin there. I found many altcoin delisted form exchange market and have lost money there.

freebutcaged

hero member

Activity: 588

Merit: 541

If you think about it, Bitcoin has a market cap of over one hundred and nine billion dollars while the rest of the coins

Have less. do you know how many coins we have?

Quote from: mk4 on September 18, 2018, 11:16:56 PM

So it does slow down adoption to some degree in my opinion.

You are wrong, having hundreds of coins with a combined market cap of less than Bitcoin's, is a competition and

Bitcoin has to think about the ways to compete more rigorously. in the future if Bitcoin wants to survive, it needs to

Offer something more.

libert19

hero member

Activity: 2520

Merit: 952

Nope. Just see the current scenario — Bitcoin dips a bit, altcoins dip a lot only strong will survive.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

I don't think so. The market might be overcrowded with useless alts of bitcoin but in the end, people know what to choose, that's why bitcoin still has the largest market cap of all the cryptocurrencies in existence. Also, most experts and giants in the field are acknowledging bitcoin more than any other coins, which gives traders confidence on the coins they picked, hence why the volume is still large even though some coins are gaining traction. As for the legal side, many countries are starting to draft their own regulations and laws regarding bitcoin and cryptocurrencies. Japan is a fine example of bitcoin's legalization, and other countries would sure to follow suit.

mk4

legendary

Activity: 2786

Merit: 3845

Paldo.io 🤖

It does hinder the bitcoin (and cryptocurrency) ecosystem in general. People getting scammed by scam coins/tokens and the publicity of the news about the scams are getting gives people a bad impression of bitcoin/crypto. So it does slow down adoption to some degree in my opinion. Long term though? This will probably be irrelevant. Technology moves forward nonetheless.

Legit altcoins though? Probably not. Not a single altcoin that's focused on being a store of value or for-payments is close to bitcoin in terms of adoption and security.

bitmover

legendary

Activity: 2324

Merit: 6006

bitcoindata.science

Nah, they can't harm bitcoin.

Those altcoins are trying to surf on bitcoin's wave and enthusiasm. It's thw other way around.

Probably most of hem will just be ignored in a few years or months, as bitcoin has better infrastructure and devs.

AAKODI

jr. member

Activity: 205

Merit: 1

More and more ICO projects are coming based on many major currencies and specially in this year the trend increased rapidly with many reputed organizations that are in various industries and trades decided to start there own digital currency to make there business more effective and efficient in order to gain more profit.
Can these new launching Altcoin's make a negative impact on bitcoin's expansion in the future because we all know in order to increase the demand, usability and accessibility of bitcoin it should be widely use in most business areas but if Altcoin's take these opportunities how it can achieve its vision to become a widely used digital currency

Topic: Can too many Altcoin's can become a threat to bitcoin's existence - page 21. (Read 2585 times)