Topic: Do you think "new" Alt coins & "Blockchain" based coins are good or bad for BTC? - page 6. (Read 533 times)
May 19, 2018, 04:16:24 AM
May 19, 2018, 04:14:55 AM
New investors will find investments opportunities in new projects especially the one that resolved a very important human problem. I don't think that new altcoins or blockchain base technology can affect bitcoin price negatively as most of the altcoins move in the same direction with bitcoin against other currencies. I believe the more advance in technology and new discovery the more bitcoin price go up.
May 19, 2018, 04:07:58 AM
I think these "Alt-coins" and "fluff blockchain" technologies have screwed up the whole thing. By now, the debate around bitcoin should have matured towards following points:
Instead of these mature and hard questions, we have this drama created by egoistic, greedy f***s everywhere who think they could be the next Satoshi or those who simply want to confuse more and more new people with cutting-edge sounding names and part them with their money.
Companies launching their own coins or similar paraphernalia to boost sales is nothing new. Things like points and coupons have existed for a long time. Alt-coins catering to a particular private organisation working on a private blockchain do not serve any purpose except being an easy, marketing gimmick.
The medium bitcoin has "Bitcoin: the network and the code" behind it. How do you replicate that level of network robustness and decentralization on some Alt-coin which comes up with novel Proofs-of-'whatever'? I think the alt-coins are bad for the ecosystem because they do not bring anything new to the table but instead, spread the focus of new users towards the race to finding the "next" bitcoin.
Without these gimmicks, people wouldn't be buying into all sort of crazy stuff hoping for it to grow because bitcoin has grown. Without them, the new wave of people too would have concentrated on the technology and tried to find ways for adoption through innovation. That kind of work has suffered when the majority of new people are interested in only investing, trading and flipping.
- Why governments and banks are so uneasy about a decentralized currency?
- What is it that makes them think that people transacting without the overhead of having to go through banks is an issue?
- How can a decentralized, transparent allocation of public funds can reduce inequality and bring more people out of poverty.
Instead of these mature and hard questions, we have this drama created by egoistic, greedy f***s everywhere who think they could be the next Satoshi or those who simply want to confuse more and more new people with cutting-edge sounding names and part them with their money.
Companies launching their own coins or similar paraphernalia to boost sales is nothing new. Things like points and coupons have existed for a long time. Alt-coins catering to a particular private organisation working on a private blockchain do not serve any purpose except being an easy, marketing gimmick.
The medium bitcoin has "Bitcoin: the network and the code" behind it. How do you replicate that level of network robustness and decentralization on some Alt-coin which comes up with novel Proofs-of-'whatever'? I think the alt-coins are bad for the ecosystem because they do not bring anything new to the table but instead, spread the focus of new users towards the race to finding the "next" bitcoin.
Without these gimmicks, people wouldn't be buying into all sort of crazy stuff hoping for it to grow because bitcoin has grown. Without them, the new wave of people too would have concentrated on the technology and tried to find ways for adoption through innovation. That kind of work has suffered when the majority of new people are interested in only investing, trading and flipping.
May 19, 2018, 03:53:03 AM
That makes sense though Bitcoin is still alive and kicking even if a lot of new Alt coins are popping up that is actually better than Bitcoin that we know. A lot of altcoins will continue to emerge and even if that happens, I don't see Bitcoin being covered up by these altcoin since there is a lot of investors and traders that is looking forward in Bitcoin's price in the future.
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?
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?
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