How does other bit Crypto Affect Bitcoin. How to make other Currency

josephrioveros123

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Thankyou so much guys. Now I have an Idea on the effect of other coins on bitcoin. Some says it does not affect the bitcoin. But on my point of view. Yes, altcoins do not affect bitcoin directly, but it does affect it in directly Because when other alt coin have it's value that means some investors invest in that alt coin and it decrease the value of money to be invested on bit coin. I think other alt coin make the value of bitcoin lower. But it does not apply all the times. I think the number of investors that want to hold this coins does the real effect on the value of the coins.

And for my other question I think I have a lot to study so to learn about it.

I think it would be much better if I will have a partner that has more knowlege of blackchain and I will only be the advertiser or the marketer if ever there will be a project like that.

masterrex

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Quote from: josephrioveros123 on October 01, 2019, 08:55:58 PM

I was wandering how does other coin affect bitcoin.? Does it make the bitcoin value highier or lower? How can we make another cryptocurrency? How much money do I need if I will make another coin? Should I be a programmer or a developer to develop a new currency?

If we compare before 2016 those times was not too many cryptocurrency coins and tokens that exist, But the price of bitcoin was comparably low comparing today, my point is today we have almost 2600+ coins/tokens in the market and yet Bitcoin price still stood higher its prices compare to all altcoins, that's make sense to me simply it has no indirect or direct effects on Bitcoin except to its volatility in trading prices and fluctuation. you should learn first a lot of things before you venture into this industry specially you want to established or create your own coin. If you are knowledgeable in IT for me it was an advantage.

Red-Apple

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they don't affect bitcoin!

it is a simple relationship. nobody outside of bitcoin world even knows about altcoins. people first hear about bitcoin then they start searching about bitcoin and some of them hear about altcoins. so if anybody enters they are entering because of bitcoin not the other way around.
so if anything altcoins have a negative effect on bitcoin since they are taking the money from some poor newbies who then lose it and leave the entire market.

landoffaucets

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Altcoins are expanding the possible use case of blockchain technology.

Do you have revolutionary idea? An idea that is not already represented by some altcoin? Then it makes sense to create a new cryptocurrency. Wink

jossiel

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Quote from: josephrioveros123 on October 01, 2019, 08:55:58 PM

I was wandering how does other coin affect bitcoin.? Does it make the bitcoin value highier or lower?

Except Tether, I don't see other coins affect bitcoin that much. As you can see, the dominance of bitcoin is the highest of them all so they can affect somehow but it's very minimal unlike bitcoin's affect to them, it's huge and makes them struggle everytime it moves positively/negatively.

Quote from: josephrioveros123 on October 01, 2019, 08:55:58 PM

How can we make another cryptocurrency? How much money do I need if I will make another coin? Should I be a programmer or a developer to develop a new currency?

There are various ways to make your own coin, you can hire a developer and you don't have to be a programmer. But what's important is to question the answer of, why you have to make one?

rocku12345

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Quote from: josephrioveros123 on October 01, 2019, 08:55:58 PM

I was wandering how does other coin affect bitcoin.? Does it make the bitcoin value highier or lower? How can we make another cryptocurrency? How much money do I need if I will make another coin? Should I be a programmer or a developer to develop a new currency?

At least you should have some idea of the desired project. Will you launch a blockchain in the space ecosystem, or will your coin just be used for small transactions between users? The total number of coins on the market today is more than 2700 (according to investing.com), so today it’s not enough just to create a cryptocurrency and wait until the community finds out about it.
Listing on exchanges is now quite expensive, for example, on Binance Dex you have to pay about $ 100,000, but you can always use free EtherDelta.

NathanJB

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Quote from: josephrioveros123 on October 01, 2019, 08:55:58 PM

I was wandering how does other coin affect bitcoin.? Does it make the bitcoin value highier or lower? How can we make another cryptocurrency? How much money do I need if I will make another coin? Should I be a programmer or a developer to develop a new currency?

That's a lot of question rolled into one.

Regarding your first and second questions, in terms of really significant effects, there are only a few altcoins that could possibly affect the value of Bitcoin, and minimally. But if there is a strong altcoin rally happening, which is almost always led by top coins, Bitcoin's value might stuck for a while or even drop a little. But that is all there is to it. Most often, it is Bitcoin that affects or even controls the fate of altcoins' value.

As to your proceeding questions, I don't think you are ready for it. The mere fact that you are asking about it here tells me that you don't have what it takes. Perhaps you start by learning the very basics of cryptography.

DaMut

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Quote from: Burogh on October 02, 2019, 01:33:09 AM

Old coins or new coins will not be able to affect the price of Bitcoin. Every coin has its own investor segment, there are people who are more inclined to invest in bitcoin but some are speculating on altcoin. In my opinion this segmentation makes the price of bitcoin not be affected by the emergence of new coins or the development of old coins

On the contrary, this segmentation affects Bitcoin in an indirect way. If there are no altcoins, the market will be focused on Bitcoin alone and the money will only flow to Bitcoin.
which means the growth of the value of Bitcoin is secured, unlike right now. We have a thousand of altcoins, that leeches investor money caused Bitcoin to lose its value by much.

Quote from: josephrioveros123 on October 01, 2019, 08:55:58 PM

I was wandering how does other coin affect bitcoin.? Does it make the bitcoin value highier or lower? How can we make another cryptocurrency? How much money do I need if I will make another coin? Should I be a programmer or a developer to develop a new currency?

Creating altcoin requires you some knowledge in the programmer, even though you are forking the code source. There is no fixed price in making your own altcoin, creating an altcoin only needs your knowledge on the other hand building it requires a lot of money.

Burogh

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Quote from: josephrioveros123 on October 01, 2019, 08:55:58 PM

I was wandering how does other coin affect bitcoin.? Does it make the bitcoin value highier or lower? How can we make another cryptocurrency? How much money do I need if I will make another coin? Should I be a programmer or a developer to develop a new currency?

Old coins or new coins will not be able to affect the price of Bitcoin. Every coin has its own investor segment, there are people who are more inclined to invest in bitcoin but some are speculating on altcoin. In my opinion this segmentation makes the price of bitcoin not be affected by the emergence of new coins or the development of old coins

Ucy

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Bisq is a Bitcoin Fiat Dex. Use responsibly

I guess you mean "altcoins" (alternative cryptocurrencies) and not bit-Crypto lol.

I don't think you should concern yourself with the effects of a Cryptocurrency price on others. People just use what works for them and Bitcoin has been doing fine since craze for alternative cryptocurrencies began. New unique cryptocurrencies help attract some unique users to the crypto world

As regards creating your own Cryptocurrency, it depends on why you want to create it.. What do want to achieve with it? Make money or make something very useful? If your goal is money then I bet your project won't last.

dimonstration

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Dimon69

Bitcoin affects often the price of other cryptocurrencies since some projects were based in bitcoin or in ETH, remember when the price arise almost all alts increases too same when in goes downthread. Some altcoins may only affect bitcoin if they have development that will make bitcoin holders shift into altcoins.

Eugenar

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Quote from: josephrioveros123 on October 01, 2019, 08:55:58 PM

I was wandering how does other coin affect bitcoin.? Does it make the bitcoin value highier or lower? How can we make another cryptocurrency? How much money do I need if I will make another coin? Should I be a programmer or a developer to develop a new currency?

Actually it is a very complex process. Let me explain this in a simple explanation, Bitcoin and other cryptocurrency has an impact to each other especially when you are in to trading. Volumes of crypto transfer when people buy or sell their assets. But in comes to creation and establishment of other cryptocurrency, they don't have a direct effect since they have a different blockchain technology, and also, they are independent of one another. You can research about Crypto forks to better know the relationship of cryptocurrencies with the same blockchain.

shinratensei_

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Quote from: josephrioveros123 on October 01, 2019, 08:55:58 PM

I was wandering how does other coin affect bitcoin.? Does it make the bitcoin value highier or lower? How can we make another cryptocurrency? How much money do I need if I will make another coin? Should I be a programmer or a developer to develop a new currency?

Another coin can't affect bitcoin but that should be the opposite thing the bitcoin is a coin that can give a huge impact on another coin.
It doesn't make the price of bitcoin higher but the existence of another coin makes the demand for bitcoin gets decreased a little bit caused by this demand goes to another coin (altcoin)
You can create your own crypto as long as you have a lot of experience as a programmer or understand how the blockchain works.
About how much money required can't be determined caused by that depends on yourself. If you have a lot of knowledge in programming or you have a lot of experience as a developer and you can create a new coin easily without needing a lot of money.

ecnalubma

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Other coins has no direct effect over bitcoin since they are different. In the question that if you need money and skills in creating a new coin? Yes probably, you need developer skills to create your own coin. Try educating yourself about blockchain technology It can help you.

josephrioveros123

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Activity: 115

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I was wandering how does other coin affect bitcoin.? Does it make the bitcoin value highier or lower? How can we make another cryptocurrency? How much money do I need if I will make another coin? Should I be a programmer or a developer to develop a new currency?

Topic: How does other bit Crypto Affect Bitcoin. How to make other Currency (Read 178 times)