Can too many Altcoin's can become a threat to bitcoin's existence - page 9.

0t3p0t

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Quote from: AAKODI on September 18, 2018, 10:03:44 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

Nope! Altcoins will remain Altcoins and they are not a threat to Bitcoin as they are created on different platform, purpose and of course the so called adoption. Bitcoin has been dominating years after years and I don't see a single Altcoin that is strong enough to eliminate or make Bitcoin crash. Ethereum is the closest Altcoin when it comes to marketcap but it doesn't possibly mean that it will beat Bitcoin in the next days, months or years but it needs much time for Eth or Altcoins to dominate Bitcoin.

dificanovi

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Quote from: AAKODI on September 18, 2018, 10:03:44 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

so far I have not seen the negative impact of the many altcoins being created. I see the price of bitcoin always stands at the top of the price of altcoin, I also haven't seen an altcoin that can beat the price of bitcoin.
bitcoin has functioned as a payment tool in various countries that have received it, besides that some ICOs also accept the purchase of their tokens with bitcoin, so I think the price of bitcoin will be more expensive if more and more ICOs are created.

Callanta787

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Not at all, bitcoin stands on its own ,altcoins cant become a threat to bitcoin in any way and a matter of fact all altcoins have there differences too ,no matter what ,bitcoin will still be the last one standing

aliza393

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Only if there are many altcoins that offer:

1. Better or equivalent security.
2. Better or equivalent liquidity.

Would love to know what the community thinks about potential competitors

blokceyin

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Not for the near future. They can only feed its prophecy. Bitcoin is the mother of dragons. Cheesy

wewe123

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Even how many altcoins surfacing in the cryptocurrency world , it will not be become a treat to bitcoin existence , from many years now bitcoin is battle tested and still it is existing in more popularity and gaining more trust from the investors and still rising to the top, so there is no need worry about bitcoin because it is maintaining the good position in the cryptomarket cap.

Bitkoyns

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I guess no because bitcoin is different even eth is different every coin has different and they have their own uniqueness the only threat from bitcoin is the investors that are diverting the investment because they see the market is better for a short period of time.

paulk11087

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I certainly don't think they're gonna hurt the bitcoin. Regardless, all the coins in the market are affected by the bitcoin movement. That's why it's hard for them to let them go. I have not yet seen the existence of such a project.

Angna27

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For me bitcoin have a NAME now and nothing can surpass bitcoin, and we know bitcoin have dignity all around the world. Bitcoin now is unstable but i believe bitcoin will rise again before the end of this year. Many altcoins create but some of them are failed but bitcoin is still standing.

Ucy

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Compare rates on different exchanges & swap.

How about "Can too many Social media become a threat to Facebook existence?"
Well, it kind of depends on Facebook ability to innovate, and the quality of the competing Social Media.

So, can too many Altcoins becoming a threat to Bitcoin?
It also depends on Bitcoin users ability to innovate and depends on the quality of the competing altcoins. Principle is more important to Bitcoin than just features. And I doubt any coin can easily surpass the price of Bitcoin though.

Sobocirevo

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Quote from: mika1977 on October 02, 2018, 02:56:14 PM

Most coins are regular copies of bitcoin, they do not carry anything new, what threat can they make?

Bitcoin will not be defeated by Altcoin, because the determination of altcoin prices is converted from the price of bitcoin. This already shows that the altcoin class is under bitcoin. Even bitcoin is "life" for all altcoins, if bitcoin dies, all altcoins die.

pinoyden

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Quote from: zarintasnim on October 02, 2018, 04:09:21 PM

I think lot of altcoin are not threat of bitcoin. Bitcoin is top all time every other coin follow bitcoin and also price effect on bitcoin. So many bitcoin are good for cryptocurrency. Its covered large field of world economy. No altcoin can effect on bitcoin.

why not ? imo atlcoins are a threat to bitcoin because it can divert attention . like for example a guy who is a die hard bitcoin fan before altcoins arent popular but after some altcoins are invented , that guy will become curious to try those altcoins .

that simply means the demand for bitcoins will become lesser overtime . how much more if there is an altcoin that is much better than bitcoin in terms of overall specs and stats ? for sure all people will be eager to switch on it , leaving bitcoin behind .

bitcrypt_09

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I think new cryptos like AML BitCoin will be the next bitcoin in the market. AML BitCoin rests on a privately regulated public blockchain that facilitates AML-KYC compliance and identifies criminals associated with illicit transactions while maintaining and strengthening the privacy protections for legitimate users.

zarintasnim

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I think lot of altcoin are not threat of bitcoin. Bitcoin is top all time every other coin follow bitcoin and also price effect on bitcoin. So many bitcoin are good for cryptocurrency. Its covered large field of world economy. No altcoin can effect on bitcoin.

Olayinka225

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I don't any altcoins can be a threat to bitcoin as at now, because I haven't see any of them getting it right against bitcoin. Some of them have to work on where bitcoin is failing but none of them have done this, so I don't see any of them becoming a big threat to bitcoin.

mika1977

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Most coins are regular copies of bitcoin, they do not carry anything new, what threat can they make?

Airbuxf

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As much as new ICO's can't do any harm towards bitcoin they can harm the crypto community. Lot's of those ICO's are there to sam people out of their money and make people afraid of investing in the cryptomarket.

basyang

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Quote from: AAKODI on September 18, 2018, 10:03:44 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

Let we say, there are lots of altcoins nowadays, everyday they developed a new altcoins to different ICO project. However, even if there is so many altcoins out there still. Bitcoin is in the top rank, because many people knew it. They can used it in many transactions and sometimes it is used to games coins and others. So I think it is not a threat to bitcoin because I am confident that they did kot yet create a coins that possible can be threat to bitcoin.

passeroutpass

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Currently, the majority of altcoins technically bypass bitcoin. But despite this, bitcoin is the first coin by market capitalization.

Teebass001

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I believe it is not really a major threat, but it is not healthy for Bitcoin in the long run. A lot of folks are investing a fortune in this Shit coins, monies that are supposed to swell Bitcoin market capitalization. But because investors wants crazy returns on their investment, they rather invest in this new coins which are mostly scams. The Devs will cash out eventually, thus crashing the market.

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