Topic: Impact of altcoins on Bitcoin's early growth and adoption? (Read 213 times)

actually altcoin is a bias of bitcoin, whatever happens to any altcoin like its price and fame is based on btc not altcoin which influences for bitcoin to be adopted by the community.
we can invest in anything,  but our main choice is bitcoin because bitcoin is the main cryptocurrency coin

Altcoin is riding on the success of Bitcoin and since the altcoin boom in 2017, it has contributed more negatively to bitcoin than it gains because altcoin does not offer anything such as an increase in awareness about changing cryptcucrency, bitcoin already make mainstream awareness before the invention of an altcoin.
-And most of the challenges we faced in the cryptocurrency market are all emanating from altcoins.

actually the presence of altcoins also has a positive impact in many ways related to bitcoin. even the hype that happened to one of the altcoins like BNB, ETH or even a meme coin like shiba has led to more adoption of bitcoin. so that altcoins and bitcoin are two things that are mutually beneficial to each other. but in the end everyone will realize that the best investment is only in bitcoin. because there is a big difference in bitcoin and altcoin. I also just realized that only bitcoin is truly decentralized.

In the beginning there were not much of altcoins. The altcoins were developed for some reason and they had minimum viable product. Even with such development not everything got success. Altcoins served to be the competence assets. At some point the altcoins developed out of Bitcoin itself mentioned to be real bitcoin. After long discussions bitcoin took its place.

No, I completely disagree with your opinion, altcoin have not done nothing to bitcoin which you think can hold bitcoin adoption.
Altcoin helps bitcoin to gain more authority, some people learned about cryptocurrency by getting into altcoin investment first.

Back then, if I can remember correctly you only can buy bitcoin from an exchange then convert or trade them with the altcoin you want to invest. So altcoin did boost the adoption of bitcoin. So I don't see a single negative site of altcoin here, or at least altcoins did nothing wrong with bitcoin.

and if you try mentioning other alts, they are clueless if they have something to do with crypto market also. most people at one point have heard about bitcoin, so its popularity is no doubt at the top of other currencies. sure, there are pros and cons of the existence of alts. but with their presence, you can easily identify the difference between btc and these alts. for long-term purposes, people have their eyes on btc, but for short term profits, they can go to alts.

I don't see any direct connection between creation of altcoins and public interest in cryptocurrency. I think if altcoins were never created, Bitcoin would still be as popular as it is now. Bitcoin is still by far the most popular cryptocurrency, if you ask random people on the street to name cryptocurrencies that they know, I'm sure most people will only name 1 coin - Bitcoin. I doubt there's any signifcant number of crypto enthusiasts who first learned about some altcoin and only then discovered Bitcoin.

Since everyone has alternative to make and they are not just given the opportunity to select from the large numbers of coins in the cryptocurrency market that make up the altcoin market apart from Bitcoin. Bitcoin had create a legal that everyone knows to be genuine and more reliable than any altcoin in the market.
We are more dependent on Bitcoin because of how far it had came to the current level. The creator or developer is still unknown that had given people the confidence to keep investing in Bitcoin as long as possible.

There will be little impact that occurs when the emergence of many altcoins influences bitcoin and make bitcoin competitive.
But the new altcoins at this time of course still can't be said to be a competitor to bitcoin.

Older altcoins such as Ethereum, BNB, ADA, etc. are sometimes the choice of investors as their second investment besides bitcoin.
Even though bitcoin has a high market cap, some assets are still diversified with other altcoins.

Competition between Bitcoin and altcoins can also affect the price and demand for both.
If investors profit from altcoins and start selling their Bitcoins, this can affect the price of Bitcoins.
many investors still view Bitcoin as a stable and safe asset, and keep their investment in it.

Ignore some projects that do not give a reason why we should buy them. But if you want fast money, buy early and sell when it's high.
My Launchpad follows some of them and provides bigger returns, but with some fairly small allocations.
But even so, a tremendous pump will occur once the coin is listed on some DEX exchanges, whoever is quick to sell it will have a lot to gain.

New altcoins are only as speculative and only as a pump-and-dump practice not really affect bitcoin completely.
Bitcoin adoption will continue with time, regardless of altcoin growth or not. The main investment remains in the bitcoin

That is the sad fact about the coin market right now, there are way too many that is useless and shitty and very few that are liked by many and work for something. I know not many people like to hear this, but that is the truth and there is no going back from that at all.

Just realize that we can't do anything about the current situation and how many new tokens are pumped into the market everyday, and we need to learn to ignore them until they give us a reason not to. Look at launchpads and see how they are pumping millions into projects that worth absolutely nothing, and you will realize why it is a shame this couldn't be done better.

Not that much though, specially these days. In early days there were serious developers who were focusing on exploring the alternative solutions and did actual development and innovation. That is long dead now and all we see are devs who are interested in making the easiest thing like a token in order to make the most amount of money in the shortest amount of time.
In other words at this point altcoins are only increasing the interest in making more [fiat] profit.

I disagree.
People who don't know bitcoin or aren't interested in bitcoin are also not interested in altcoins. In fact almost everyone who has ever touched altcoins were into bitcoin first.

Not at all because of the reasons I explained at the start.

Wrong. It is pretty easy to verify too, look at what happens to altcoins each time bitcoin price moves: They get dumped. This shows that people didn't really "diversify" their investment, they just took their money into another highly risky market to increase it and come back to bitcoin.

This I agree with specially since there has been propaganda campaigns against bitcoin where they point out all the scams in the altcoin scene while the main subject is bitcoin. To an unaware person who doesn't know bitcoin they all look alike.

but what I got from all the things I have learned, that everyone who invests in cryptocurrency also invests in bitcoin, because they are also aware of the risks of altcoins, therefore they keep investing in bitcoin in the long term.
if you say an obstacle, I think it's a bit of an obstacle.

I dare to say that the good altcoins with and actual purpose and use are infinitely outnumbered by garbage and one can not deny it.
the way I see it, the even though the vast majority of shitcoins do not have a significant volume or market capitalization (in comparison to Bitcoin or top alts) still all of them together subtract dominance from Bitcoin, which I do not like much.

Each of us is free to invest wherever we want and we are free to fork a chain and stick a doge picture on it, but it is different when the volume and liquidity which could be used for Bitcoin or top alts ends up being rug pulled.  

Yes it is true that Altcoins serving as an alternative to btc and the creation of altcoins brought about positive results in the crypto market. although not all altcoins can act as a replacement for btc. Some are not stable or reliable.
 Several altcoins have copied Bitcoin hard cap including folks of Bitcoin itself. However, only Bitcoin’s hard cap is reliable for some reasons. In the recent times,Bitcoin have truly claimed to be separated from all other coins.altcoins or any currency for that matter which is in unity, cannot reliably establish a hard cap as the authority in charge can simply revoke that hard cap at any point. Alt

with altcoins it looks like there is competition between bitcoin and altcoins, but if you look at the reality there is actually no competition. the proof is that we can see from the price of bitcoin that is not affected by the presence of many altcoins.
and I think that someday people will definitely leave altcoins that are not of good quality, which always make investors lose.
so surely a lot of people will go to bitcoin because bitcoin is the safest.

You're talking about the chicken against the egg. Without Bitcoin, there will be no altcoins. The name of altcoins means many thing, they are alternative cryptocurrencies. They are considered as alternatives for Bitcoin.

They were created a lot especially with each bull year of Bitcoin but it's hard to find altcoins that can survive in the market after a few years.

Don't buy altcoins because they are top altcoins
Coinmarketcap Cryptocurrency Historical Data Snapshot shows many dead endings of altcoins including top altcoins.

Altcoins have made people rich. This means people who missed to invest good on bitcoin preferred altcoins. People who had chosen the right altcoins have benefitted good out of it. Altcoins have served as the best investment and as a good competence asset. If there were no altcoins the market wouldn't have flourished to this level.

To be honest, the creation of alternate cryptocurrency brought more good than harm and I consider that the competition was not as bad as people thought would be. Like you mentioned, this brought about public awareness and interest to the extent of knowing that there exists a currency that is fully decentralized aka "financial freedom."

I doubt that there was any competition at all when ETH and other famous altcoins were made. The basis would always be the price and liquidity in the market. Moreover, the creation of altcoins further boosted the price of BTC in the market which had more positive impact than negative.

I disagree on this, people were rather afraid of investing with bitcoin beca of the negative role altcoins have been playing in cryptocurrency that has made many believed it's the same as a ponzi scheme whereby their asset could vanish away like a thin air, moreso bitcoin was the first introduced digital currency people want and not the other cryptocurrencies, their fate is determined by bitcoin as well.


I still don't understand why you are so much concentrated about altcoins here on bitcoin discussion board, altcoins has nothing to offer than distractions, people on the look on how to invest with bitcoin eventually falls the hands of exchanges who introduced their altcoins they promote to them instead of bitcoin and this makes it a threat on many having this FOMO with investing further with bitcoin after having altcoins experience.

Bitcoin it's self was the brain behind altcoin and when we talks of cryptocurrency both bitcoin and altcoin are being classified as cryptocurrency. However, the formation of bitcoin has greatly impacted on people despite the creation of other coin and there's no way bitcoin would be in competition with altcoin which can never happened. Bitcoin is more secure, reliable and trustworthy and moreover, has no central authority from any governmental agency meaning it is a decentralized currency which operates independently.