Do you see alts have chances against Bitcoins? - page 84.

FLoving

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Quote from: pearlmen on April 15, 2017, 03:00:32 AM

Quote from: Stedsm on April 14, 2017, 01:49:21 PM

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

Even with the negative factors and valid ones at that you listed there, I haven't seen businesses moving their funds to alts when they know to convert to fiat, most of the alts will still need to be converted to Bitcoin first. For me, I have not seen any alternative to bitcoin in the altcoin world but hopefully with gradual development one of them will come to mainstream and I can join in.

Yeah that is a good point to mentioned we can see that all of the altcoin need to be converted to bitcoin before converting them to fiat so it mean it has nothing yet with real world but only are limited to crypto world while bitcoin has got a good success in the real world after crypto world.

chickenado

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I see that altcoins helping bitcoin to increase more user. Some investors in altcoin now uses this bitcoin as mode of payment to buy and sell their coins so I can't see the chances of any altcoin against bitcoin.

naidray

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Quote from: Stedsm on April 14, 2017, 01:49:21 PM

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

But I believe miners will learn the lesson and will start reducing transaction fees that will be end of people finding altcoins are useful. It is tug of war from miners to get more benefits out of transaction fees but when they are finding lesser volume of bitcoin transactions, they will start realizing their mistake and will get back themselves normal.

I do see all the altcoins are vulnerable too for scalability in future hence they cannot be the right solution for ever. Ultimately altcoins are yet again going to serve their purposes yeah for the improvement of bitcoin ecosystem this time too.

BillyBobZorton

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All alts would have the same problems as bitcoin eventually. They would either become with blockchains that are too bloated, transactions too expensive and slow...

Only alt that could challenge it is an that can scale without node centralization and that alt does not exist.

BitcoinHodler

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Quote from: sikke on April 15, 2017, 08:04:59 AM

Alts have their chance against bitcoin, but they need more time for that, to attract more bitcoin users to them.

time won't fix problems that many of them have!
to be fair there are a lot of good altcoins, a lot of innovations and many good features. but almost all of them have many problems. and most of them have no real usage so that we can see them in real action.
for example you can't say an altcoin is capable or incapable of handling many transactions unless it has as many users and as many transactions for a long time (at least a year).

sikke

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Quote from: pearlmen on April 15, 2017, 03:00:32 AM

Quote from: Stedsm on April 14, 2017, 01:49:21 PM

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

Even with the negative factors and valid ones at that you listed there, I haven't seen businesses moving their funds to alts when they know to convert to fiat, most of the alts will still need to be converted to Bitcoin first. For me, I have not seen any alternative to bitcoin in the altcoin world but hopefully with gradual development one of them will come to mainstream and I can join in.

I have a slightly different point of view, I think that none company related with bitcoin will move their funds onto some altcoin ( which has much smaller volume and marketcap ) just because we are witnesses of the big panic and confusion going on the markets. Also, they would not make such a change because of blockchain in traffic- really high fees and long time to confirm a transaction, which is kind of obvious, because I would not rely my business on some altcoin that might be dead in next year- and I doubt that something will even scare bitcoin, there is no doubt it will exist in next year.

Alts have their chance against bitcoin, but they need more time for that, to attract more bitcoin users to them.

DoublerHunter

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I don't see altcoins have any chance against bitcoin in terms of being on the top of the market. Although they can get manipulated and be on the top high volume in the market, still.. it is not enough for them to become the new type of king aside from bitcoin. Altcoins will take a lot of time and development in order to become another type of king of the cryptocurrency markets.

krisnt80

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Well with the raising into the fees several people already dealing with others altcoins, even knowing the big money and potencial is at bitcoin due to halving and big investors around it, we saw already dash at 0,10btc as well several crypto raised a lot due to their low fees transactions, something that bitcoin cant keep providing as others.
But those changes wont damage bitcoin, since the most transactions keep being made against it, even knowing some currencies can already be traded for fiat currencie directly.

pearlmen

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Quote from: Stedsm on April 14, 2017, 01:49:21 PM

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

Even with the negative factors and valid ones at that you listed there, I haven't seen businesses moving their funds to alts when they know to convert to fiat, most of the alts will still need to be converted to Bitcoin first. For me, I have not seen any alternative to bitcoin in the altcoin world but hopefully with gradual development one of them will come to mainstream and I can join in.

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Quote from: Xester on April 14, 2017, 09:41:31 PM

Quote from: jubalix on April 14, 2017, 08:05:26 PM

frankly...yes

the percentage of btc domination has been only one way.

while not the whole story, unless btc can sort out the segwit, then LN, and make block size about 8MB/16 M as Coblee seems to think 400M users can be served with 1MB/segwit/LN, but still to expensive, so we need 8MB to 16 MB blocks at least to make it usable.

ETH shows just how much the market share can be taken.

Btc may have advantages being the settlement layer.

That is very far from happening. Etherium cannot replace and overcome bitcoin. Though there are many problem behind bitcoin network but there are solutions waiting in-line to make bitcoin work better and stronger. If you look at the value of bitcoin you can say that bitcoin is still strong amidst the issues and will continue to strive and will continue to exist as the best crytpcurrency online.

[SNIP]here are solutions waiting in-line to make bitcoin work better and stronger.[SNIP]

and there is the problem, we have a solution now and look how hard it is to get it implemented, what does this mean for future needs / dev.

Amph

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Quote from: cpfreeplz on April 14, 2017, 09:48:03 PM

The majority of alts have no real purpose and are just pumped and dump shitcoins. There are a select few that have real value and there are some that are centralized and aren't even a true crypto IMO. If there is something better than bitcoins it'll take over, but I don't see it happening anytime soon.

having a good capitalization isn't the only thing that a coin need to beat bitcoin, i can't stop repeating this but all the other coins will never overtake bitcoin until there will be an actual usage for merchants

if they remain good for speculators, they will never take off, monero is currently the only one used as a currency like bitcoin, at least this is true int he darkweeb

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Quote from: jakelyson on April 15, 2017, 01:22:43 AM

This can happen. If bitcoin cannot put a solution to scale problems, it will be overthrown by altcoins who have better handle on scaling problems, have faster confirmation time and lower fees. Investors will always choose the better and cheaper means to do business, and if bitcoin cannot provide that, they will surely seek an altcoin who does.

Nah, those altcoins need popularity first to overtake the place of bitcoin. As I see that bitcoin is now really slow if it's about confirmation and really inconveniencing their users, but, the bitcoin users still stay and seem not going to moving out to those altcoins. I honestly really hope that the scaling problem will be resolved immediately as soon as possible.

jakelyson

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This can happen. If bitcoin cannot put a solution to scale problems, it will be overthrown by altcoins who have better handle on scaling problems, have faster confirmation time and lower fees. Investors will always choose the better and cheaper means to do business, and if bitcoin cannot provide that, they will surely seek an altcoin who does.

noictib

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Quote from: Stedsm on April 14, 2017, 01:49:21 PM

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

This is reality that new new altcoins are coming and making more advantage then what the bitcoin is making but reality is that bitcoin still haven't any type of competition with these altcoins , Because the demand of the bitcoin is going increasing daily but stability also is good In comparison of the other altcoins .
So here the future of the bitcoin is long lasting then what those altcoins have , so we can say that altcoins have any more chances against bitcoin .

Sadlife

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Bitcoin will survived, Japan has recently adopted bitcoin and soon will india and other countries also.
If only some people started acting and really solved the bitcoin scaling problem then we could have break the $1400 barrier
if these problem continues investors might move to some major alts like LTC, ETH, DASH

flower1024

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Quote from: kiklo on April 14, 2017, 09:55:00 PM

Quote from: Stedsm on April 14, 2017, 01:49:21 PM

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

No Doubts about it , the bigger BTC price becomes the more the transactions fees cost , and the less people that will use BTC.
The Middle class and poorer nations will only use alts (insert your favorite), because they are being priced out of the BTC markets.

Cool

It is a good point. Now itself fees are not very less for example If I need to withdraw funds from crypto games site in fast mode then need to pay around 0.0015 BTC for 0.2 BTC. It is considered as a very high fee for the cryptocurrency. If network don't improve for faster transactions with smaller fee and in future, any new coin solves this issue then many people may shift but it will not happen so soon.

ebliever

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Quote from: Stedsm on April 14, 2017, 01:49:21 PM

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

All the major alts have use cases distinct from the current use of bitcoin as digital gold. In fact, all of them can be used as a store of value in addition to being functional for other purposes, be it smart contracts (ETH, ETC, Ardor, etc.), private cash (Dash, Monero, Zcash), commercial payments (Ripple), prediction markets (Augur), etc., etc., etc. Even simple litecoin and dogecoin are much faster and cheaper to work with.

So not to be too hard on poor old bitcoin, but I hardly think it's the major altcoins that have to justify their existence. It's bitcoin.

kiklo

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Quote from: Stedsm on April 14, 2017, 01:49:21 PM

I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?

No Doubts about it , the bigger BTC price becomes the more the transactions fees cost , and the less people that will use BTC.
The Middle class and poorer nations will only use alts (insert your favorite), because they are being priced out of the BTC markets.

Cool

cpfreeplz

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The majority of alts have no real purpose and are just pumped and dump shitcoins. There are a select few that have real value and there are some that are centralized and aren't even a true crypto IMO. If there is something better than bitcoins it'll take over, but I don't see it happening anytime soon.

jacktheking

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Bitcoin may be the oldest and most popular cryptocurrency in the internet but we can't say that Bitcoin will remain as the crypto giant forever. There is some flaws with Bitcoin that a lot of people dislike. As mentioned, fees and block time for example. We may see another cryptocurrency taking over Bitcoin but it shouldn't be happening that soon. Crypto currencies is still new in general and it needs time to grow and become mature.

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