Topic: does the increasing number of altcoins have a negative impact on the price btc - page 5. (Read 1066 times)

I think the cryptocurrency market is constantly evolving and there are many factors at play, so this is a question to be answered with time. On one hand, I could see the argument that altcoins hurt Bitcoin's price because of their introduction into the market and subsequent rise in popularity and value. On the other hand, it could be argued that altcoins only help bring more attention to the space as a whole, which would lead more people to Bitcoin and ideally, drive up its price too. In my opinion, it's too early to tell at this point in time.

Increasing number of altcoins won't disturb the market of bitcoin. Bitcoin have got its user base and rest will be on altcoins. Lets have a simple calculation, if 80% of people use bitcoin, the same counts when there exists a new altcoin. This falls under the remaining 20% which is the altcoins users. Now among the 20% little turns towards the new altcoins. This is how it works and the same might have small impact on altcoins and not on bitcoin.

Not that much but we cant really avoid not to think that with altcoins existence then it would really be making out that partition on which people would overall will be making out investment which those things could be potentially be poured purely on Bitcoin but well it doesnt matter though because we arent that blind not to see when it comes to dominance.

If we do look currently on here https://coinmarketcap.com/charts/#dominance-percentage
Bitcoin does have 42% dominance overall in market and rest is playing in between top altcoins and the rest is playing below into those points.

Nope. But between altcoin and Bitcoin, there is a one way relationship in terms of market value. The market price of aotcoins won't be able to influence the price of Bitcoin but with Bitcoin's value it can literally influence majority of this industry. Maybe it has something to do with which is the bigger blockchain and community of users which yields to bigger influence in this market. During bullish run, big tokens are leading the industry to have an increase as well but altcoins would for sure having a bigger rate of increase over big names in this industry, which would simply generate bigger profit.

You have answered that and your answer is correct because no matter how many altcoins are added and how many projects there are, it will not really make an impact on the price of bitcoin.
What happened was the opposite, when bitcoin entered a crash state, they were the ones who were affected and even though there are many altcoins every day, you can see how many of their projects have died and been abandoned.

thats the thing though. people can lock btc up and peg it to a subnetwork bridge offering capacity and capability to transact millions of peoples value

But lightning had 7 years of failed launches and bottlenecks and broken protocol that allowed fractional reserving, fake balancing, and just didnt meet any of its promises..

as a mainnet bitcoin is top(im a bitcoin maximalist and proud of it. but i am a realist too and not afraid to be frank about details others want swept under the rug)

but bitcoins 2015 promises of functional subnetwork bridges to be capable of handing millions of users payment, has failed.. failed in promises features functionality, operability, capability.. and the test of time
its because cores team of "products"(subnetworks) they are not building subnetworks to solve problems they are building networks to stall and delay and make people wait years..

this is why amazon chose a subnetwork bridge of ethereum to use(avalanche). because locking btc to then peg to avalanche has shown more success in 15 months, rather than locking bitcoin and pegging to lightning has in 7 years

im ashamed to say, but its too obvious to deny
avalanche has shown it has a better value store and security monetary policy. thus gained more btc pegged adoption than lightning

lightning still has flaws bugs, lack of value security, weak pegging (on the lightning side) no network wide audit, no network security model.(list goes on)

its become shameful that more users trust their btc value on avalanche than they do on a subnetwork supposedly linked to bitcoin mainnet
and even more shameful that business titans who done their research also see avalanche as the better option subnetwork for btc value locks, subacute of the lack of success/promises met by lightning

Bitcoin have died few times already and it's still alive today, I have never heard of altcoins coming back to life after death, this is what makes Bitcoin a survival of it's kind, many altcoins will keep facing the same fate over and over until Few ones are good for adding up to the list of possible payment gateway like the ISO20022 thing, now that AWS and Microsoft are gearing up to enter crypto yes I am certain that some altcoins will survive, Amazon already picked Avalanche but Bitcoin will always remain the best.

If you look at CoinMarketCap then there are 22394 coins listed as of now. Only top 10 or 20 alts are worthy for investment rest are useless in my opinion. The 41% dominance of bitcoin proves the fact that presence of so many alts have no effect on bitcoin. Also if you see price pattern of different alts then its very much clear that alts are heavily dependent on bitcoin price. Alts is a term that must be reserved for coins like Ethereum, BNB, Cardano and remaining top 20 on CMC. If 22k alts wont be able to beat BTC together, I am sure 50k alts wont be able to do that.

I think if you have a small amount of money that you could invest into, the best thing to do would not be just focusing on making THAT bigger, but to make sure you can invest more. How can you do that? Well you must have some income to live, and  that means you have a job, if you don't, then that's priority, get a job.

After you get an income, there are two options which means that you could either put some of your money into bitcoin from your salary, or if that's not enough then find a side-income, and put that into bitcoin. This way, you will have a constant influx of money going into your bitcoin account, and you will eventually have enough bitcoin that when it goes up, it makes a good profit for you.

I think there’s no question that altcoins/shitcoins detract from bitcoin and it’s bottom line as well as it’s worldwide adoption. I’ve had so many countless clients come to me and ask me about all of these nonsense altcoins thinking they are going to get rich like some did with bitcoin.  I normally tell them to try and keep something like 80-90% of your coins in bitcoin and “gamble” for the rest of them.

Whether they listen or not, I’m not so sure.

Do you mean an increasing number of shitcoins? Shitcoins are everywhere and there is no stopping for scammer developers to create shitcoins once they rug-pulled their previous coins. Rinse and repeat. Bitcoin is the first, the original and it will always dominate the crypto market. When was the time when bitcoin's value dropped to second or its trading volume dropped to second or third? It never happened. Bitcoin will always be bitcoin and it lives and continues to grow over time with or without altcoins. So for me, I do not think the growing numbers of altcoins affect the price of bitcoin. 99% of these altcoins will turn zero anyways once the hype is over.    

the most popular altcoin is etherewum.. but if they are number 2. you would think they would have a large community where their own market would have its own niche price discovery/vale metric of its own senitments.
meaning if it was popular with large unique usage the price markets of ethereums would not look anything like bitcoins market movements

but take a look at the 5day or 1 month or 6 month charts and compare the market price wiggle shapes

ethereum the supposed #2 coin is just sheep following bitcoin. because bitcoin is where the real discovery is and the other markets are just tracing bitcoin due to arbitraging
take a look at how its over 98% similar in its ups and downs
bitcoin                                 ethereum


in short. other coins dont have any meaningful disruption to bitcoin

You are right. It will not affect the bitcoin price. But that makes the list of altcoins will continue to change from time to time due to competition between the altcoins. And only altcoins can really benefit investors and traders who will survive for the long term because those altcoins can benefit them. In addition, with so many altcoins on the market, traders and investors have many options to make profits but they have to really look for the right coin.

I do not think increase in altcoin will in any way have affect on bitcoin price. Bitcoin has been there before the inception of altcoin  and as a matter of fact, bitcoin has created a niche for itself as the first digital currency in the world and therefore it is termed the digital gold with a limited supply and demand on increase. Gradually, bitcoin will become legal tender in most countries in the world which altcoin can not achieve in any way.
Another thing to note is that bitcoin is not regulated by any government or anybody compared to altcoin so therefore bitcoin price as I know can never be affected by altcoins even of altcoin keep increasing tremendously and otherwise.

Not only from newbies but there are some veterans who will get tempted on their short-term pumps. I am talking about the new altcoins but they can also invest on old altcoins for the long term as a part of their diversification. This affects BTC somehow. If BTC is the only crypto then it will get all the demand and its value is already high now.

If more newbies will get scammed by those scammy altcoins then they will leave the crypto world and they might also warn other people about this. That is one of the down side of having an altcoin in this market. Even though not all are obvious scams but we don't know maybe their devs will get tempted to pull the rug later on? There are also legit alts who will get weaker in the long run. People can still lose their money this way.

I strongly believe yes!

Majority of the altcoins are pure gambling. A lot of people invest on them as if they are a get rich quick scheme. In 5his process, a lot of people looses their money. So these altcoins are a big roadblock for bitcoin's liquidity.

The investments that should have come to bitcoin, a divided to these altcoins which are resulting in less demand for bitcoin. If 20% of the investments that are going towards these shitcoins, were coming to bitcoin, we would have crossed trillion dollar quite easily. So these altcoins are really bad for the market.

the ever-increasing number of altcoins will probably only affect the adoption of Bitcoin from newbies. some beginners or maybe more choose altcoins because the price is cheaper. and also maybe because of suggestions from others. because I have friends who prefer short-term investing in altcoins rather than Bitcoin.

I might think more about the positive impact it has on strengthening the market because of more altcoins. although of course there is also a negative impact when more and more shitcoins end up being scams.
but as more people adopt crypto it means there will always be growth in the better market. crypto adoption is getting bigger. when the choice is also greater. the impact on market strength is not specific to the price of Bitcoin.

I wouldn't say it's because of the increasing number but it's on the presence of alternative coins. Perhaps you could think of a person who has $1000 to invest. He could put all that amount into bitcoin if there was no other option. He may have heard there are altcoins that could potentially give him more gains so he decided to allocate $300 to btc and the rest to two or more alts. Imagine if there are many people who would think like that.

The relationship between the number of altcoins and the price of Bitcoin is not clear-cut. The rise in altcoins can divert market focus, potentially hurting Bitcoin's price.
On the other hand, the existence of a wide range of altcoins may have also sparked public awareness and interest in the cryptocurrency industry as a whole, potentially leading to increased demand for Bitcoin. The presence of a diverse range of coins can also bring new innovations and technologies, which can benefit the entire industry and lead to a positive impact on the price of Bitcoin. So, all in all, I'd say it's like a double-edged sword.

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Learning from your own mistakes is cool and all, but relying on it too much has its downsides. It can be time-consuming, inefficient, and costly. So, relying solely on learning from your own slip-ups isn't the smartest move.

That's if you just dip your finger in so that a bad experience at the start isn't a big deal to continue to dive deeper and be careful.
Some newcomers fail to improve and opt out after the 1st failure for sticking their whole ass to the bottom of the altcoin scam pool, take memecoin hype 2021 for example.