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Topic: Do you think "new" Alt coins & "Blockchain" based coins are good or bad for BTC? (Read 533 times)

chaoscoinz

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Quote from: Kakmakr on May 19, 2018, 03:48:58 AM

I think the immediate reaction from people invested into Bitcoin would be negative, when they hear that some new Alt coin or "Blockchain" based technology was launched. You immediately think that money will flow away from Bitcoin to these Alt coins and Bitcoin will lose investors.

Could a new coin attract new investors to the whole Crypto currency scene, that would not have invested, if it was not for this coin?

Let's say for instance "Mc Donald's" launch a new Alt coin, called "McCoin" and Billions of people starts to buy and sell these coins. What would the natural spinoff of this be? I think "increased awareness" of Crypto Currencies. A percentage of these people might start to trade other Alt coins or Bitcoin as a result of this.

Do you think this is Good or Bad for Bitcoin, when this happens?

I don't know, I mean, what was the purpose of Doctor Nakamoto making the entire project open source? It seems like altcoins were encouraged. Bitcoin was most likely a proof of concept for the real innovation behind the madness, the blockchain. By making Blockchain technolgy a free to share code, it encouraged the startup of a grass roots community.
If I didn't know any better, I'd say Doctor Nakamoto's experiment was successful. An entire economy is being built around blockchain projects.

Just my two cents!

jeronimosuykens

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Quote from: miyaka26 on June 24, 2018, 10:58:33 AM

This would always dependent on their demand, petty coins may have some negative impacts to bitcoin as it may taint some bad reactions and reputation generally to cryptocurrency most especially to those unaware people but there would be some altcoins which have some good usages and platforms hidden gems they've said that would be beneficial to bitcoin and other pairings of that specific coin.

These currencies really depend on market demand. People are interested in it and may be the ones who produce it to promote the market. But I think every coin must have a value for the user. For example, the currency is used to market games, or buy and sell books. And that is the essence of those coins.

MIZANUR5033

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Well, you just ask very interesting and curious question nowadays. Really people nowadays are very interested in the market. Once upon a time people directly depend on BTC but as many days gone new new coins are coming in the market are. Most of them are created by the companies which depend on BTC. So they are creating their own coins. The altcoin and the blockchain system is one of system which are in the market to complete the btc. Now the thing is to think that is it bad for BTC or good for it.so my opinion is very clear this is a not effect Bitcoin so much rather it gives Bitcoin to the prime position. So it's very interesting things that people are creating new block chain system and make BTC the best coin in the whole cryptocurrency market.

fishball

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Quote from: Kakmakr on May 19, 2018, 03:48:58 AM

Well it depends on how bitcoin will see and handle these things. But for me, bitcoin should take these things as good opportunity to surpass its own own limits and surpass others.

Gaurav11kb

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Bitcoin is dominating the whole market and it would keep doing so even in future. If many good altcoins come into the market, they'll too be traded with bitcoin pairs. To put money in any alt, first we have to put our money in Bitcoin and if popularity increases, so does the price. So, it can ve said that more numbers of good altcoins are better for the market, for us and they are surely better for thr future of Bitcoin.

wantjokull

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Quote from: pey on June 07, 2018, 05:50:58 AM

All of them are good for bitcoin because they attract more money to the market which is good for bitcoin, they can't be higher than bitcoin in terms of market cap.

Yeah its completely true that they can not overcome the market cap of bitcoin at anytime. This is logical and can be proven from one important fact that bitcoin dominance is way higher than all the crypto currencies available out there. Dont you think that it is what tells that bitcoin will never go down in the inevstment and people will keep putting their money into the bitcoin rather than alts. The altcoins problem is that they are always liquid projects, some get success and some fails and thats why they are not affecting bitcoin at all. So it doesnt matter how many more will come.

SaraMartin1212

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I think that is what directly affects the value of bitcoin in the current cryptocurrency market. Previously, bitcoin was considered the first coin in the world to use blockchain technology to succeed. Now if any new co-learners learn bitcoin using blockchain technology, then developers will have more advanced technologies to overcome the bitcoin value.

MeganJenkins1212

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Quote from: Kakmakr on May 19, 2018, 03:48:58 AM

I think people react negatively to seeing a new type of Blockchain based on the technology and the fear of thinking that bitcoin and other Altcoins will lose investors may be new to menopause. Much experience in investing in electronic money. That might also be good with bitcoin.

phillippw6

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The more coins that prefer to choose to make their own coin instead of choosing the most rational choice coin in this cas4e the bitcoin are proving to be difficulties as the bitcoin can be used to value any assets as it is the accepted convention of the world so it's not good for bitcoin

Raiden0729

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Indeed expanded mindfulness is a thing yet we ought to recollect this that it will pretty much abatement the quantity of speculators accessible to Bitcoins is the thing that I think. Some time before there was just Bitcoins and individuals needed to put resources into this simply because there was no other alternative however now you do have a loads of choices therefore we ought to recall that with such a large number of choices the monetary estimation of Bitcoins alone will diminish and the fame as well.

raahi

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When new coins are introduced with the blockchain network that is actually a good thing happening for the bitcoin market as the blockchain technology is being promoted and even though it is presented to be a competition for bitcoin the use of blockchain is a note that people are accepting the new standards of finance

miyaka26

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maxreish

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It somehow good for some investors to atleast try other crypto investment aside from bitcoin. Altcoins are created for it's affordability. We all know how bitcoin cost, so producers and crypto lovers think of a way how cryptocurrency aside from bitcoin, with another blockchain but lower in value will fit the investors criteria and they found out the alternative way about it, which is the altcoins.

ladydark

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Quote from: Kakmakr on May 19, 2018, 03:48:58 AM

Definitely if such a reputed company launches a coin,it would attract many investors but still bitcoin has got well settled,bitcoin investors would still continue to hold bitcoins.

frowsiter

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I have come to strong conclusion that only the good and bad news around the globe can hamper the crypto currencies movement. It matter when there is exchanger that has got hacked, it matter when there is government accepting the crypto currencies, thats all! These kind of news and many more can only hamper the crypto currencies prices. No it does not matter if new altcoin is coming our way because it has its own crypto sphere where investors could be different, same and in equal for which we have no idea. So it doesn't matter if they bring new coin in market.

Apened

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Quote from: Kakmakr on May 19, 2018, 03:48:58 AM

We are already in cryptocurrency and this was already existed, new altcoins, and new blockchains that some of this wants to beat bitcoins blockchain. It's good that we have some altcoins that having different ideas and usage as we are approaching the coming future this will help our future and for Bitcoin it remains the same it is the most used crypto to exist in the world we can never change it even saying that every company is starting to make their own coin regardless how bitcoin investors decrease because a certain time when it goes up the investors were always going back to it.

MascharonoM

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I am a newbie in Crypto Industry. I always look out for getting something new and unique. Not much sure Blockchain good or bad for BTC. During few months I have been looking for another ICO @SciDex project. What's the possibility for being succeed?

Kevin77

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Quote from: napi on June 03, 2018, 12:52:48 AM

it seems it depends on how the products and developments that new altcoin has, if their products are good and there are no obstacles then it can be very good too.

Unfortunately most of the altcoins today are more like living in the shadows of bitcoin. It is either some of them are more like a replica or clone trying to do what bitcoin could not do or some are tokens which are utility based. I believe it is a big space though and there is enough room for everyone. It is not a bad they are there, although in a way they have caused a huge diversion, but one thing is that the growth is imminent, and at least, they still bring a lot of competition for the space.

There was a debate in this forum on why we need altcoins and there most people shared like altcoins are indirectly providing development ideas and testing platforms. I guess no one could ignore all these. It means new altcoins and blockchain based coins are always good for BTC and its community for making it evolved as per requirements of future.

1Referee

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Quote from: wxa7115 on June 07, 2018, 05:51:33 PM

I'm not so sure that many of those altcoins are bringing new money to the market, most of all the money currently invested in cryptocurrencies is invested in the top 20 coins, if the other projects were that good and were able to bring benefits to the community we will see a more fair distribution in the amount of money invested in them but since it is not the case it is fair to say they do not really bring too much to the community.

Correct. In case there is a new project that gains people's interest, there isn't new money flowing into that project, but money will flow out of existing coins right into the new one.

I am actually quite surprised with how altcoins haven't managed to come up with something really groundbreaking in the last years. Plenty of features they advertise with, barely any use. Only Ethereum managed to actually position itself in the market properly, and we see how that lifted its price significantly. Now it's waiting for Ethereum to dethrone itself or have the ICO hype come to an end.

We also have Monero, which is quite a technical revolution in privacy terms, but it's being put to waste on centralized exchanges.

bitgolden

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Quote from: frowsiter on June 03, 2018, 01:20:57 AM

Quote from: Nicol3 on June 02, 2018, 05:18:43 PM

I think its good for bitcoin because most of the newly created coins now are in ethereum blockchain amd it made no difference to ethereums price in the market so in bitcoins case, I dont think there is a threat if alrernate coins are created in bitcoins blockchain.

Yeah this is also very much true. As ICO's are forming day by day but with no real progress in the ETH platform as they dont really contribute to the value. If they would have increased the value of ETH then it could have had bad effects on the BTC as most of the people would have gotten attracted towards the ETH more.

This would have been really bad for the bitcoin economy. Thankfully there is no progress in the ETH value due to ICO's!!

They are anyway different sphere so lets not get worried about because of the altcoins.

Basically, this is not about ETH but BTC, but since you mentioned that, I am not sure what you actually mean by not bringing any value. As far as I am concerned, as long as Ethereum is usable, that makes it valuable and whatever happens on the Ethereum blockchain in terms of development has to do with the developers and not the tokens.

They are all there for their own purposes and serve their own various needs for the users, and in this case, I am referring to those with products, and as long as they are on the Ethereum blockchain, they sure do have a role to play. Overall, for bitcoin, I do not see any problem that altcoins could have created.