Topic: Do you see alts have chances against Bitcoins? - page 58. (Read 51050 times)

I see the alts have no chance against bitcoin. Bitcoin creat room  in the market and other coin just follo bitcoin. Bitcoin is roll model to other coin. Alts coin  just follo bitcoin.

Correct any altcoin aiming to be on top is probably going to fail, they need to try to do things bitcoin does not do, LTC is quicker and that is why some consider it the silver of the crypto world, Ethereum does smart contracts, monero offers true anonymity.

If we will going to look on the wider essence of altcoin we could see what it brings or do to bitcoin. I agree that bitcoin is not against in the first place to compete on bitcoin because bitcoin already established a name and a value in the market. Bitcoin mostly need altcoin to balanced its stock for the users to have choice in other transaction and to build a new crypto coin to the market for some reasons. But its main purpose is really to help bitcoin itself.

Bitcoin will keep going. Some alts may fill a niche or help in another area.

I am watching for any coin that goes for the medicine or science community. Something that is for funding these fields and a coin created to help poorer countries would be awesome.

Its sad because theres a faction of miners that seem to be preventing solutions to the scaling issues while holding large amounts of alts. It seems like a convenient way to pump their altholdings while still doing well in bitcoin which is rising steadily for now despite the problems.

Yes, they have chances against bitcoins. Especially bitcoins have a big issue lately, the confirmation for each transaction is so long to wait and makes the fee become high too. If the alts can see this and can make the transaction fast, i think it will be good for the alts.

One saddening fact about humans is that we want to compare every single thing that has similarities. People compare singers just because they are both beautiful or white even when they sing two different genres. In reality, these two don't necessarily compete at all. They both grow on their own way. Just like flowers, they grow by their own. They don't kill the other plants and flowers near them, they simply bloom.

Bitcoin and altcoins is analogous to this. They both grow on their own. They don't compete at all, but people love to speculate. Bitcoin and altcoins are actually helping each other grow because when altcoins advertise, they are advertising the cryptocurrency as a whole. While bitcoins help altcoin grow because most people that know of bitcoins are inclined on reading some stuffs about other coins.

yeah i agree with you , altcoin there is not value without bitcoin. and i think bitcoin more famous because altcoin too. many user of bitcoin mining bitcoin through altcoins

That something that is gonna happen sooner or later and some alt will take more dominate role in this most are close to this like you mentioned Ethereum, look on what segwith done with Litecoin, so in matter of years we will more hear that some alt in that time made something new and good for good of us all.

Altcoin are not anymore what they used to be for quick earning they become something more and respectable.

Skipping this logic is inevitable that bitcoin was the first mover and it has the biggest network effect. It is a fact. Because of that at one point or another different altcoins would be compared or judged based on bitcoin.

Altcoins are not only good for short-term investments, but altcoins that have the potential to last long like BTC and have features according to the market demand would give a tough fight to bitcoin. For example, Ethereum used blockchain techology to come up with something that crypto community needed, smart contracts.

So in short, altcoins that are going to take blockchain technology to another level by giving what the market needs stands a chance against bitcoin.

yes thats why theres a lot of brand to compete with. but it is different from crypto world. cryptocurrency has different uses, like for example: Bitcoin can be used in different things that accepts it. for ripple it is specialized for businesses and banks. so we cant really compare the two as they have different uses.

Likewise, I agree that Bitcoin is far ahead compared to any other alt coins that we currently have does make no one as a real candidate to replace Bitcoin. After the developers have fixed the congestion in the blockchain then Bitcoin will come back to its usual self and the topics of Bitcoin being dead would subside. I also read topics from a long time ago like years back being Bitcoin would be dead and they are positive with this but as we can see Bitcoin is still alive and this topics regarding this that we have now is just one of those.

I have heard and been asked this question many times over the years. At the end of the day, it is like saying do you think Twitter will take over Facebook, or will Chrome take over Firefox. There is enough space in the future market to allow all to exist for their own case. The beauty is that we have all of these different coins and someone might prefer one over the other based on their own desires or needs. Some people will say they love Samsung phones others swear by Apple. Such is the case and will remain the case. I would hate to live in a world with one choice, then we are back to square one and stuck with EUR or USD etc.

I don't think that is right your point of view. Bitcoin and altcoins are the same family and cannot be competition within a family. Anyhow, taking your point of view, I think that there is absolutely no risk in short time point of view that bitcoin be harmed from some other altcoin. There is no candidates (or at least i don't see any) that compete with bitcoin in point of view of value and importance.

this is true. as we can see on the coinmarketcap. ripple is now half the market cap of bitcoin. as far as i remember. ripple only have 1billion market cap last march. then see, it is now 13Billion usd. so maybe we should say that crypto currency is now on the right path. and bitcoin is just the father of all currency yet some can over drive it.

I feel like a lot of people in this thread are using the following logic:

1) Bitcoin has always been #1 because it was the first mover and it has the biggest network effect.
2) Therefore, "altcoins" are only interesting for short-term investments
3) Bitcoin will always be #1

I would just like to explain my view and why I think this circular reasoning is not very useful for predicting the future:

When Bitcoin was born in 2009 it was competing with fiat currencies. Relative to these fiat currencies it had so much going for it: decentralisation, 21 million coin cap, super fast, super secure, super cheap. It had tremendous benefits over every other currency.

In the last 8 years a lot has changed though.

For starters, the Bitcoin network has become very congested with fees currently skyrocketing and Bitcoin still not being able to scale.
Compared to fiat currency, Bitcoin is still a tremendously valuable asset. Even with fees of 100$, it could still be a very attractive store of value for people in certain countries.

However, it's no longer Bitcoin versus fiat. It's decentralised digital currencies versus fiat. And although Bitcoin is still #1 in marketcap, one has to acknowledge that a trend is occuring:

https://coinmarketcap.com/charts/

If you scroll down the the bottom of that page you can see that Bitcoin's market dominance has dropped below 50% now. Notice how the biggest drop in Bitcoin's market dominance happened right after the blocks got completely full (1MB), negatively affecting user experience, in March/April 2017.

You could argue that that's no problem for Bitcoin because the price per bitcoin itself still went up. But I think the price of all cryptocurrencies are going up because it's the future of money and people are realising this. Looking at how this new investment spreads out over the different coins is a much better metric to check the sentiment within the cryptosphere than looking at just one coin's price.

Now some of these coins really boggle my mind. For example, I don't get how XRP made it all the way to #2 on the marketcap list. I read their whitepaper and I really don't see how this is even closely representing what decentralised trustless currencies stand for. But hey, I might just not get and miss out on it's potential, and I'm OK with that.

But other coins really interest me because they offer some promising solutions to the problems that we ran in to while conducting our first decentralised currency experiment (Bitcoin).

Some solve the governance problem by using DAO's (Dash, Decred).
Some solve the scaling problem with faster blocktimes or flexible blocksizes (Monero, Litecoin).
Some try to make the currency more programmable (Ethereum, NEM).
Some solve the anonymity/fungibility problem (Zcash)

Ofcourse trade-offs are being made and I think none of these coins are as secure as Bitcoin is right now. Mainly because Bitcoin's software has been run and tested for 8 years now, but also because it's more conservative with it's goals (i.e. just being a store of value).

Long-term however, some of these "altcoins" (I don't like that name because it differentiates between Bitcoin and any other cryptocurrency) might take over. And the longer Bitcoin takes to resolve its issues the bigger the window of opportunity for another cryptocurrency to take over.

Let's also not forget that Bitcoin paved the way for other cryptocurrencies. It takes a lot of effort to get a store to accept Bitcoin if it has never heard of cryptocurrencies before. Once it already accepts Bitcoin, and a cheaper, faster and maybe even more secure cryptocurrency shows up, all it takes is a software update.

The way I see it is that the whole cryptocurrency community is betting on which currency will have what it takes to go big. Betting on just one horse might have been a good idea a while ago, but it certainly isn't today.


 

Bitcoin is like USD. It is like reference for other alt coin.
I think there is no chances for alts gainst Bitcoins.
But if you mean the chance to have more value than bitcoin, there is always a chance.
But not as stable as bitcoin.
ZEC is the prove for this case.

If bitcoins transaction speed don't improve and fee increases to the unrealistic range then bitcoin usage may reduce for most of the smaller amount transaction and so it will give a chance for another good altcoin to become its competitor for smaller amount transactions.

We can't take it guaranty that always bitcoin will be a leader in cryptocurrencies because some new coins provide better features then people may switch to it for sure. But for now yes, bitcoin is leading.

As of me being an investor, many altcoins have given me some good amount of returns, so for investing purposes, altcoins are a good thing as compared to bitcoins only for short term gains.
But in long term investing i prefer bitcoin more than altcoins.

Even bitcoin is the strongest coin right now it is not 'always' the best because there will be a time that an altcoin will created and it will be a lot more better than bitcoin and if the people will attracted to that then then the rest will follow to and that is the time when bitcoin will slowly gets old and at the end being abandoned.