Topic: Is the absance of Bitcoin affect the crypto Industry? (Read 473 times)

He forgets that until now even Bitcoin is still first on all exchanges.
Crypto may last a long time but all will only come and go while Bitcoin will last, we can see how new crypto always appears and only lasts some time because all its purpose is to enrich developers while Bitcoin is supported by a strong community that continues to develop so that Bitcoin is even stronger. And we are used to hearing crypto developers talk trash about Bitcoin without realizing they exist because Bitcoin already existed first.

I don't know the man in the picture, but even if I had met him before now and his saying whatever he had said about Bitcoin, I wouldn't argue with him, because obviously everyone has the freedom of speech, so he has the right to say anything he wants to say.

I know too well that he is just an attention seeker who wants to be relevant in the scene, so he must do his best to be talked about. Here we go; we are already talking about him. But the fact is, can you uproot a tree without the whole body leaving the surface? absolutely No. So Bitcoin is the root, and alts are like the branches or leaves that, even if they are cut off, don't disturb the tree.

The market can't survive without Bitcoin so don't worry yourself about what people are saying concerning Bitcoin.

This is just a singular person's view, in the crypto world, once there is no Bitcoin, people may be ripped of there money because we will face many face coins of all type, Bitcoin was created in a way that so many people even think that there is another coin inside bitcoin, the invention was very perfect apart from the transaction feed that needed to be modified to fit in the peoples expectation, if what he said is true why is that up till this moment some bitcoiners or digital money hunters don't want to hear anything about altcoin, they prefer not to go into what they do not know so that they won't regret being scammed, I will categorically as that without bitcoin the crypto industry would have gone into extinction, No bitcoin, no recognition of altcoin, this is my take.

Bitcoin was the king of the cryptocurrency market,do you think the forest will survive for the longer period without the king Lion.It’s merely not possible one for the crypto market to survive without the bitcoin.If the new people come to trade of crypto currency,their first option without any hesitation will be the bitcoin.Nearly ninety percent of the new people was investing their first money in the bitcoin was said by one of the company.The survival of the bitcoin was above decade,we don’t know whether the Cardano had the potential to survive for the decade.Surely the opinion of most of us will be no,because survival in the current economic conditions is not easy one.


The bitcoin was the back bone for now in the cryptocurrency market,before the 2017 many threads was made to predict the next high of the bitcoin.But now no thread was speculating the price of bitcoin because of the stable bull run in the bitcoin price.The demand of bitcoin is more to the demand of Cardano in the current market condition.This alone defines the demand of bitcoin and Cardano in the current market.

I would say it definitely it is. Although I don't think the whole crypto market will shut down without bitcoin, but I guess the people who have been investing in bitcoin might also lost their interest to stay longer in the market thinking that they can't trust any other coins more than bitcoin. The crypto industry evolves more on bitcoin, and if bitcoin will be suddenly gone, I honestly think that it will bring crypto industry down.

However, more altcoins will eventually rise in the market but knowing the reputation of altcoins, wise investors will never easily trust them so they might just leave the crypto market and prefer to invest in real estate or stocks or bonds.

Yes.
You just removed the center of this market and while people think that it's possible for other altcoins to survive in the market. It's likely that big players will be gone out here because bitcoin's gone.
How do you play with the liquidity which usually is coming from Bitcoin? you may have that high value on those altcoins but if there is no bitcoin, many people are simply going to be out as well.

Obviously? I mean how could we think about crypto world without thinking about bitcoin, that just doesn't work that way and we can't really make it change. We need to accept the fact that crypto world is revolving around bitcoin and there is absolutely nothing else we can do about it, we need to realize that we are going to end up with making something change. This is why we need to get a grip of what's going on and we need to end up with something that will benefit everyone all the same as well.

This bitcoin world we have right now is perfect, it's such a great way to invest and a great way to get ready for your retirement and you are going to make some decent sized wealth with it, that is why if we remove bitcoin then you are going to ruin something that is going so great. Let me put it this way, we had Luna crash, and that was just Luna, and look at how much it hurt the whole market, if Luna being gone is this much hurt, imagine how much Bitcoin would hurt.

We cant underestimate Bitcoin's influence in the crypto world. Its like the backbone of the industry, not just another player. In a way, Bitcoin is more than just a cryptocurrency; its a change in how we think about money and freedom. Because it is decentralised, it questions the very structure of traditional economies.

The concept of a cryptocurrency ecosystem apart from Bitcoin needs to be dispelled. Imagine a skyscraper (the crypto industry) without its foundation (Bitcoin). Its going to fall apart! The network, its many users, and its workers make Bitcoin safer and more stable than any other system. They're more than just numbers; they show how strong Bitcoin is. Saying that the business world can live without Bitcoin is like saying that the internet can live without its basic standards. Its not just unlikely; its almost certainly impossible. Bitcoin isnt just an old window; it' the whole system!

There is a high possibility that the founders of the numerous altcoins are beginning to understand that people prefer Bitcoin to the altcoins. This statement from the Cardano boss has all the ingredients of fear and panic and I think that is understandable. I don't expect him to say something different but he forgot to understand that the whole world knows he is not being serious. The future of cryptocurrency in general depends on Bitcoin.

Saying that Crypto Industry can survive without Bitcoin is a bold statement, that needs to be proven first. I wouldn't be about that, at least for now Bitcoin is still the main face of cryptocurrency, most people know crypto started by knowing Bitcoin and that's a fact. More than that if we talk about number currently Bitcoin is holding $800 Billion of marketcap, and I doubt that if Bitcoin is gone half of the marketcap will still around the crypto market, people will just withdrawing those money and move on to non-crypto investment.

Every altcoin might be exiting on its own, on either the BSC chain, the etherium chain, or their own blockchain; they are not on the Bitcoin blockchain. That's because Bitcoin is not designed to accommodate any altcoin under the chain. Speaking of the cryptocurrecy market, Bitcoin has the highest trading volume, is the most dominant market, and is the top coin in the space. There is no way that Bitcoin will go down with it affecting the other coins.

Bitcoin is the major coin based on proof of work with a known season. The two seasons of Bitcoin, which are the bear season and the bull season, happen to affect every other altcoin in the market, while those altcoins don't have a halving period in them just like Bitcoin does.

If they can actually stand as tall as Bitcoin in the market, how do they get affected if there is any bad news in the space? When Bitcoin price drops, so many other altcoins join it.

He may think so but if you want to get a real idea then you will regularly monitor the Bitcoin market and regularly monitor the Cardano market then you will get an idea of how important Bitcoin is to the survival of all other coins. If the value of Bitcoin increases, the value of all other coins in the market increases, and if the value of Bitcoin decreases, the value of all other coins in the market decreases, so how can we believe that Bitcoin has no role in the progress of all other coins. All other coin markets survive for Bitcoin. If this were not the case then why would a change in the price of Bitcoin affect the value of all other coins in the market?

It cannot be denied that bitcoin is still leading the market and the entire market still moves with bitcoin. If bitcoin falls then very few altcoins can grow but that is not enough to assert that the existence of the cryptocurrency industry is completely dependent on bitcoin. Because as I said, this is a financial market, so as long as it still creates profit opportunities for players, and market makers...it will still be maintained one way or another. Crypto is not only a technological revolution but it is also a financial market like other markets such as stocks or foreign exchange.

I'm just looking at possibilities. Many of us here are almost certain that the entire crypto industry would fall without Bitcoin, but that's just one possibility. Is there no other?

Yes, as far as the price is concerned, Bitcoin falling could mean altcoins falling as well. But does that necessarily apply to survival? Should we assume that the likes of MARA or Hut 8 and other billion-dollar Bitcoin miners would just call it quits and forget about their huge capital because Bitcoin is gone? Is it not a possibility, too, that they would look for other PoW coins, mine them, and continue to operate and be profitable?

Certainly, yes. Bitcoin is the lifeblood of the crypto market, without it then the crypto industry will never be promising and competitive just like we have right now. With bitcoin's absence, random altcoins will continue to rise in the market and increase the scamming incidents in the crypto industry. When that happens, people will never trust the market anymore as only bitcoin gets the highest utility and the highest trust from its investors.

While this is quite inevitable to happen, but we all know also that crypto without bitcoin will never be the same again. That's why I don't like imagining it because I know that will never happen for now and hopefully in the future.

Yes without Bitcoin the cryptocurrency ecosystem will be drastically affected and things will go wrong, other cryptocurrencies will collapse. Bitcoin is the pillar in the in the industry and once Bitcoin fall other will fall because people will be afraid that as Bitcoin which is the giant of all the coins has fallen then other coins are not save again therefore everyone will be struggling to withdraw their money and at that many people will loss their coins because of the rush many coins will shot down. The example you gave has a very big different with cryptocurrency. Cryptocurrency are all digital currencies that have the same function and uses. But windows and mobile phone have different operations though in one purpose. Computer can function many things but phone can't do many things. But all cryptocurrencies have the same function.

The majority of investors entered the cryptocurrency market through bitcoin investments, having learned about its safety and then become aware of other cryptocurrencies. Which cryptocurrency will endure if bitcoin vanishes today? No, of course, as no one will see them. They lack the security of bitcoin. Individuals won't invest in those currencies since the danger involved is greater than with bitcoin. Nevertheless, the cost of those coins is determined by the cost of bitcoin. When the price of bitcoin increases, its value increases as well because investors know that at that point, more people will be looking at them and buying them in anticipation of a possible bull run.


It’s simple and obvious why bitcoin is the leader of all cryptocurrencies. The reason behind this is that since the existence of bitcoin, no one has complained that they invested, didn't get their money back, or that the coin has stopped functioning at all. You know, there was a cryptocurrency that did that right, and again, the risk behind bitcoin investment is very small when compared to one of the altcoins. However, peace of mind is also very important. Nobody has invested in bitcoin and started fearing that maybe the coin will crash or they will run with the funds. Bitcoin is there at any time, and as long as you can take the risk, you will make a profit from it. It is just a matter of time.

Whether DCA favors a certain holder or not can only be said after the fact. There is no way to know whether someone who starts DCA today will be better off than someone who invests a lump sum today. It depends on so many things. What's true is that those who started DCA a very long time ago can consider themselves some happy investors. But similarly someone with a lump sump invested several years ago could be much better off.

As for BTC and its impact on the industry if it ever fails or gets abandoned, I am sure that the bundle of reasons leading to such a hypothetical scenario would have severe consequences. But nobody can say of what nature those consequences would be. If it was for a weakness in an algorithm or a brand new technology that makes BTC obsolete overnight, the question is not what BTC's absence would do to the industry, but whether the whole industry as it is now would vanish overnight.

The way and manner BTC would affect the crypto industry, remains to be seen.
BTC is a pioneer in the crypto currency industry and any new or emerging coin would have to live up to the standard it has set since it's time of inception and acceptance.
The DCA strategy of investment mostly favours BTC holders with a long term vision because of its stability and almost resistant nature to market volatilities.
Infact, the current price of BTC makes all other coins rise in same sequence and with it still climbing to an ATH, there is still enough prospects for investors who have bought the dip to make a meaningful gain/profit.

I've also thought about this, if bitcoin disappears then perhaps the cryptocurrency market will disappear too, but if we evaluate it more fairly. I think that the cryptocurrency industry will not disappear even if bitcoin is no more, but trust in it will certainly be severely reduced and could collapse at any time.

Why do I say this because it can be said that bitcoin is the only coin that has real utility and practical applications. But the rest of the market is like a money game, as long as people can still make money from this market people will still participate in it even when bitcoin is gone. So I would lean towards the scenario where the market still exists even if bitcoin no longer exists.