Topic: Does crypto need to step out of Bitcoins shadow? Opinions please? (Read 625 times)
Even if they want to, altcoins cannot step out of Bitcoin's shadow because the technology and the idea was copied by Bitcoin. The only thing that they can do to step out of Bitcoin is to think of a new idea that is not originally came from Bitcoin specifically the technology.
August 27, 2018, 10:23:40 PM
There are no promising projects, all new coins are just copies of existing ones, thousands of projects have already promised to solve all the problems that Bitcoin has or bring some new features, yet no one has actually achieved that. Almost no one actually uses altcoins, especially those that are below top 20. If some talented people are actually interested in decentralized systems and peer to peer networks, they should be working on expanding Bitcoin, adding features like sidechains and smart contracts to allow Bitcoin to deliver promises made by other coins. It's better to have one coin secured by all the PoW in the world and thousands of nodes that can do everything, rather than have hundreds of small, unsecured and specialized networks.
All the new projects are just reinventing the wheel by promising of solving the problem that has existed for a long time yet each day new ICOs are arrriving claiming to be world first in what has existed before. It is greed that is forcing men to stand in the shadows of bitcoins yet adding nothing new. August 27, 2018, 10:07:52 PM
Well for startes, let's change your term crypto to the more specific altcoins since bitcoin itself is a cryptocurrency.
Not that i'm a bitcoin fanatic or anything of that sort, but i doubt that altcoins can move beyond the shadows of bitcoin, as of the moment. Remember that bitcoin paved way for cryptocurrency to be an acceptable investment. In fact, a lot of coins out there owe it to bitcoin and are using the same platform. Their primal design as a coin, is one and the same.
As for the negative effect bitcoin's plunging price brought to altcoins, i'd say that can never be avoided right now. But the good thing is this, a lot of people are pushing bitcoin to be recognized as a worthy investing instrument, and when it finally gets the nod of approval of governing authorities, altcoins will have a lot to thank for once again.
So be patient, stay positive. Bitcoin will be to the rescue soon and altcoins is set to rise again too.
Not that i'm a bitcoin fanatic or anything of that sort, but i doubt that altcoins can move beyond the shadows of bitcoin, as of the moment. Remember that bitcoin paved way for cryptocurrency to be an acceptable investment. In fact, a lot of coins out there owe it to bitcoin and are using the same platform. Their primal design as a coin, is one and the same.
As for the negative effect bitcoin's plunging price brought to altcoins, i'd say that can never be avoided right now. But the good thing is this, a lot of people are pushing bitcoin to be recognized as a worthy investing instrument, and when it finally gets the nod of approval of governing authorities, altcoins will have a lot to thank for once again.
So be patient, stay positive. Bitcoin will be to the rescue soon and altcoins is set to rise again too.
August 27, 2018, 06:36:28 PM
Although i respect conservative opinion, "cryptocurrency is bitcoin" is wrong thought. Yes first cryptocurrency is bitcoin but take a note that bitcoin is based on other currency idea. Different is satoshi created with name bitcoin and it worked succesfully.
It is same as you say US dollar is only fiat money because it has bigger power.
In order to make cryptocurrency and blockchain grow more advanced, altcoin is needed
It is same as you say US dollar is only fiat money because it has bigger power.
In order to make cryptocurrency and blockchain grow more advanced, altcoin is needed
August 27, 2018, 01:29:24 PM
Just because the market is down right now, we have to disassociate bitcoin with cryptocurrency? Not that it’s possible. Please do take note that to most people, cryptocurrency is bitcoin.
August 27, 2018, 01:11:48 PM
I don't think that any cryptocurrency will ever come out of the shadow of Bitcoin. Bitcoin has been carrying forward the image of cryptocurrency. Many people are investing in altcoins because of what happened in Bitcoin. You can never take Bitcoin out of Cryptocurrency market.
August 09, 2018, 10:01:00 PM
you can never get cryptocurrencies from the bitcoin shadow because bitcoin works as fiat money for the other cryptocurrencies, in all exchange you need bitcoin to buy another crypto.
That's right, guys, because all Cryptocurrecny is on Bitcoin.
Exchange all of its pairs on Bitcoin.
Unless the local Exchange is open between Bitcoin x Fiat (the country you live in) and Bitcoin still Bitcoin cannot be falsified.
July 26, 2018, 11:35:29 AM
bitcoin is cryptocurrency.
cryptocurrency is bitcoin, that's my opinion and bitcoin will not be in leave.
and forever crypto will always be with bitcoin.
cryptocurrency is bitcoin, that's my opinion and bitcoin will not be in leave.
and forever crypto will always be with bitcoin.
July 26, 2018, 11:28:11 AM
Hi guys, just wondering about other peoples opinion on this.
In order for the world of Crypto to grow and be mass-adopted, do you think crypto needs to step out of the shadow of Bitcoin or do you think its the other way round and that people should scoop up Bitcoin and let it always rule the roost?
I only say this as any sort of negativity that Bitcoin receives, shouldn't really affect some promising projects and cryptos that are essentially doing their own thing and making their own progress- only to be pegged back by Bitcoin losing value!
Yes i understand that all cryptos are tethered to the price of BTC, but will it/should it always be that way?
In order for the world of Crypto to grow and be mass-adopted, do you think crypto needs to step out of the shadow of Bitcoin or do you think its the other way round and that people should scoop up Bitcoin and let it always rule the roost?
I only say this as any sort of negativity that Bitcoin receives, shouldn't really affect some promising projects and cryptos that are essentially doing their own thing and making their own progress- only to be pegged back by Bitcoin losing value!
Yes i understand that all cryptos are tethered to the price of BTC, but will it/should it always be that way?
I don't think that the other coins grow under the shadow of Bitcoin. There are many wallets and exchanges which will assist anyone the currency conversion and nowadays you may convert any to any. So being the front runner in the industry, BTC is the most stabilized out of all but it does not say that the other currencies require to nurture under its shadow.
July 26, 2018, 11:21:02 AM
Do you mean ''other cryptos''? Because bitcoin is alsoa a crypto.
July 25, 2018, 10:43:32 PM
The sweet and simple answer is no. Bitcoins is cryptos and cryptos is bitcoins, others are alt coins that just copied bitcoins and some even stole it's name. People only know about cryptos thanks to bitcoins remove bitcoins from cryptos there'll be nothing left the entire market will just simply tank and before one knows vanish. Bitcoins is needed for the safe and stable growth of cryptos.
July 25, 2018, 10:36:38 PM
The cryptocurrency steps out of bitcoins already, different altcoin have so much potential more than bitcoin now.
July 23, 2018, 02:00:32 AM
Currently trading crypto is considered a like kind exchange so no capital gains taxes are due (there is some dispute with this but the irs only guidance seems to reinforce this) . You only have a taxable event if you sell crypto for cash. The reason is the idea of a like kind exchange which basically says you arent really selling but rather keeping a different form of the same kind of thing...a "like" kind.
The new tax bill would make it clear that like kind exchanges are reserved only for real estate thus any trade of a crypto currency would not be considered a like kind exchange and taxes would be due.
The new tax bill would make it clear that like kind exchanges are reserved only for real estate thus any trade of a crypto currency would not be considered a like kind exchange and taxes would be due.
July 14, 2018, 12:15:02 PM
I think this is necessary. I do not want to see the price of altcoin depending on the price of Bitcoin. I want everyone to be fair in investing in the altcoin. There are many altcoins potential but prices cannot increase in the past time
July 14, 2018, 07:04:09 AM
There are many altcoin running in the market but they didn't have popularity as have the bitcoin the future will be same crypto with the bitcoin price.
July 14, 2018, 02:54:26 AM
Hi guys, just wondering about other peoples opinion on this.
In order for the world of Crypto to grow and be mass-adopted, do you think crypto needs to step out of the shadow of Bitcoin or do you think its the other way round and that people should scoop up Bitcoin and let it always rule the roost?
I only say this as any sort of negativity that Bitcoin receives, shouldn't really affect some promising projects and cryptos that are essentially doing their own thing and making their own progress- only to be pegged back by Bitcoin losing value!
Yes i understand that all cryptos are tethered to the price of BTC, but will it/should it always be that way?
I don’t think that crypto is something without the bitcoin. As we all know that crypto is a very big name for all of us and to the most surprise is that we all consider crypto as a new way of technology and a new way of development and moreover crypto consisists of many virtual currencies and all together constitutes crypto currency but still no currency is that superior as bitcoin is , i guess and I don’t think that crypto could survive if it comes out from bitcoin shadow. In order for the world of Crypto to grow and be mass-adopted, do you think crypto needs to step out of the shadow of Bitcoin or do you think its the other way round and that people should scoop up Bitcoin and let it always rule the roost?
I only say this as any sort of negativity that Bitcoin receives, shouldn't really affect some promising projects and cryptos that are essentially doing their own thing and making their own progress- only to be pegged back by Bitcoin losing value!
Yes i understand that all cryptos are tethered to the price of BTC, but will it/should it always be that way?
July 13, 2018, 11:13:39 AM
They can't even if they want to. You must remember always that bitcoin was the first, it will always be the standard in the crypto world. And as you can see, all other coins follow the trend of bitcoin value. When bitcoin price increase, all increases same as when it decreases.
July 13, 2018, 10:53:41 AM
I do not quite understand what that means. I did not see a single crypto currency that would try to look like bitcoin. Everyone is trying to show that their product is unique and has no analogues.
However, perhaps I agree that bitcoin has a huge impact on the whole market. And unfortunately if bitcoin will fall in price, then other crypto-currencies too.
And it's even more miserable to realize the fact that something as soon as possible will appear as bitcoin
However, perhaps I agree that bitcoin has a huge impact on the whole market. And unfortunately if bitcoin will fall in price, then other crypto-currencies too.
And it's even more miserable to realize the fact that something as soon as possible will appear as bitcoin
July 13, 2018, 10:47:39 AM
I want the crypto to step out of the ball of bitcoin. altcoin prices are heavily dependent on bitcoin prices. If this continues to happen in the future, people will probably never invest in altcoin
Bitcoin is the measure value in crypto world, and exchanges works using satoshi instead of dollars in buy and sell orders. Only dollars value is dependent by the btc.
July 13, 2018, 10:43:42 AM
I think the future will be the same crypto with bitcoin price.
no doubt all altcoin is strongly influenced by bitcoin. probably because of the oldest crypto bitcoin.
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