I'm new here,what is altcoin - page 3.

bittick

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Quote from: GeorgeJohn on July 01, 2020, 03:28:58 PM

I heard the knowledge of bitcoin (btc)and ETH since 2016 and i want to know the difference between altcoin and BTC and ETH.

and how influential is altcoin because beginners that ask question is really or interested to know which I am willing to know.

I know some people will react to this topic violently and some will respond with manner,
I am here to know what i don't know because I believe that knowledge is power and also the beginning of success.

Ethereum can also be called as altcoin and the only difference from altcoin and bitcoin must be the altcoin has already made from the further development of bitcoin source code and that means altcoin just like a new generation of bitcoin with some improvements.

Mostly altcoin already used to create a fast or instant transaction while bitcoin has already used as a commodity or store of value.

serjent05

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It is what they say, altcoins is a cryptocurrency that is not Bitcoin. Altcoin is derive from the term Alternative of Bitcoin or Alternative cryptocurrency.

The influence of altcoin is too great that it affects Bitcoin's global adoption. Many Bitcoin users is brought by altcoin advertisement and I am one of those. And many Bitcoin haters is also affected by altcoin scam projects that the only main purpose of creation is to grab people's money and run away.

DarkDays

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Bitcoin was the first cryptocurrency ever released, anything else is described as an altcoin. This is because Bitcoin is widely considered to the be number one cryptocurrencies, and everything else is just an alternative to the de facto number 1 that is Bitcoin.

Bitcoin and most other cryptocurrencies operate on a blockchain database which is used for storing transaction records. But the way these different cryptocurrencies do this can vary considerably, as can their intended function. Bitcoin is intended to be a replacement to fiat currencies, allowing people to "be their own bank" and send payments without the need for intermediaries. Ethereum, on the other hand, is intended to operate as a distributed virtual machine which can run a variety of applications comprised of smart contracts. They have two completely different use cases, but people can still pay for things with Ether—much in the same way that you can still buy things with gold if you wanted.

Neither is better, they're just different.

NotFuzzyWarm

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Evil beware: We have waffles!

An 'altcoin' is ANY crypto coin/token that is not BTC (Bitcoin).

For the record, the name "Bitcoin" applies only to Bitcoin. Far too often folks use the term 'Bitcoin' when talking about other coins/tokens implying they are the same thing - they are not. Biggest difference is that BTC uses Proof Of Work (POW) to set rewards based on the amount of work that a miner does to validate transactions stored in blocks. Bitcoin is intended to strictly be an alternative to using fiat ("real Money") for financial transactions.

Most other coins use Proof Of Stake (POS) which is a whole different thing. Some are again replacements for fiat, some are for storing all sorts of records/transactions aka "Smart Contracts". While there are a few alt's that use the same POW SHA256 algorithm that BTC uses they are not "Bitcoin".

In a way it is like people often calling facial tissue "Kleenex" or any kind of soda pop 'Coke" even though it may be some other brand.

HodlerKing101

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I'm pretty sure that no one will react differently here, the BTCTalk community is well known to be helpful to newbies and people that just came back to the scene after a long hiatus.

Altcoins are extremely influential depending on how they market their coin. But nowadays, people can already small scams from miles away. Though there are major projects that performed airdrop with their altcoins basing from their original coin, STEEM almost 3x their value just by doing that. And at this point, XEM is doing it with 1:1 drop with XYM (Symbol).

In simpler terms, an altcoin will more likely to perform in terms of market price and become more influential if there's a major company/project already handling it.

GeorgeJohn

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I heard the knowledge of bitcoin (btc)and ETH since 2016 and i want to know the difference between altcoin and BTC and ETH.

and how influential is altcoin because beginners that ask question is really or interested to know which I am willing to know.

I know some people will react to this topic violently and some will respond with manner,
I am here to know what i don't know because I believe that knowledge is power and also the beginning of success.

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