Topic: Is the absance of Bitcoin affect the crypto Industry? - page 2. (Read 473 times)

The crypto industry may be interconnected in terms of influencing people's interests, but their roles are different and Bitcoin is certainly one practical way for most people involved in it. Because people entering the crypto space will have an indirect relationship to altcoins even if they don't specifically invest in altcoins. However, if asked whether without Bitcoin, altcoins would disappear then the answer is of course yes because there is nothing more attractive for people to enter this industry.

Bitcoin influences the course of altcoins, as we usually see when bitcoin experiences a significant price increase certain altcoins will also follow suit. That is why people consider Bitcoin to be the king of crypto and Bitcoin's power to maintain value cannot be matched by any altcoin that has ever existed.

What else could be expected from the founder of an altcoin to say? If they actually acknowledge that if bitcoin disappeared then the whole market will crash and vanish then a great deal of the reasons to be of most altcoins will disappear as they are all dependent on bitcoin anyway.

So in a way I can understand his posture as there is literally nothing else that could be said by him, however is it true? Can this market remain in place if bitcoin were to disappear? I do not think so.

Right bitcoin is the king of all crypto coins so it is simple that if bitcoin goes to an ends then surely every other coin will cease to be visible too. As other coins are allied with that of bitcoin and every coins experience the same actions as that of bitcoin so if bitcoin become extinct same action will be bring about by other coins. Among all crypto coins the bitcoin procured more sureness so if it can break the trust of people then there will be no more faith received by others coins ever. May be for sometimes crypto market persist but it will not be continue longer once bitcoin become perish.

Yes, when the foundation is uprooted, then it is only necessary to see the destruction that will occur.
Maybe there will be some that survive, but it won't last long.

The foundation becomes a core part that can never be lost, just like Bitcoin, which became the pivot of all existing altcoins and became the forerunner of cryptocurrency.

People who hate Bitcoin too much will say that when Bitcoin disappears, a new Bitcoin will appear.
Bitcoin is still Bitcoin, there will be no Bitcoin 2.0, 3.0 etc...

Everyone can offer their criticisms and opinions on certain aspects of Bitcoin. Not every opinion may be right and not every opinion needs to be worried about. Sometimes there is just an opinion and it has been said.

I don't think the crypto industry would exist without Bitcoin. You can add a new floor to a house, but you can't remove the foundation. Everyone wants the changes they want to happen instantly. Some things take time and hard work. Bitcoin has gone through many phases and is still going through many phases. Bitcoin has a unique role in the crypto market. When that role disappears, how sustainable will what's left be?

I had the same thoughts before but if it weren't to Bitcoin, interest towards other cryptos won't be built up. Yes they are having the same concept but keep in mind that introducing oneself to an industry is always the hardest. Trust is not something you will earn overnight. And Bitcoin just happened to lit the wick of the candle, for other coins or simply altcoins. What supports this is how Bitcoin market price pulls and pushes the market value of other cryptos as well. Indeed there's no strong basis yet of why Bitcoin is the top crypto in this industry and how it became the 'leader' aside from being believed one as the first ever for this blockchain.

I will not agree to it as long as I cannot see it happening. Bitcoin affects the crypto industry since Bitcoin represents cryptocurrency. If Bitcoin crashes, many cryptocurrencies will also crash. It's similar to the comparison between owning a Windows computer and a phone. Nowadays, most people prefer owning a phone due to its advantages; it's portable, can be used to communicate, and has several other benefits. However, a phone cannot replace a Windows computer because the computer offers more processing power, storage capacity, and multitasking capabilities.

In my opinion, the absence of Bitcoin would have a significant impact on the entire cryptocurrency industry. Bitcoin's price and security have attracted many people to the world of crypto, and without it, people may find it difficult to trust other cryptocurrencies.

One of the things that make crypto to be more useful today is Bitcoin but I think that Cardano founder is misunderstanding Bitcoin because of the misconceptions he has towards Bitcoin, it not he wouldn't have said such a thing.
If not for Bitcoin the the name crypto wouldn't have been in existence today.
However, it is not everyone that would like a better thing because some just like to condemn things even when they know the things are for good.
If Bitcoin collapse today, only God will know how the crypto space will become because a lot of coin in the market are also depending on Bitcoin because they can not do on their own.

How the fake survive without the original, it will be impossible because bitcoin control other cryptocurrency in her price movement. Bitcoin is the only hope that has made those other altcoins survive and assuming there is no bitcoin, by now the cryptocurrency market will be a scam because nobody will want to put their money into an investment that they will not have a rest of mind and will even still loss their funds. He is only saying this from his own shallow brain because he is envious of bitcoin and really wished he was the creator. So many altcoins dev are just jealous of Satoshi and bitcoin and they think that they can do better than Satoshi but they ended up creating centralized coins for manipulations and to control the market. Greed is what I will classify them as.

Firstly, OP please edit the spelling mistake in the title "Absence" and not what you wrote above.

Secondly, people outside bitcoin's sphere tend to speak about a lot of things good and bad about crypto. You dont need to take that personally but with a (or a lot) grain of salt.

The actions speak louder than words, so observe what happens in future and where the ADA vs BTC battle goes and not what someone speaks at a meetup and jump out of your couch hearing that. The concept of a BTC-killer or something that can outwit bitcoin has been here since bitcoin came in. None of the assets have had any such advantage over bitcoin, till date.

I agree with your opinion, yes, it is true that without Bitcoin in the Crypto industry there would be the potential for altcoin destruction, so in my opinion Bitcoin really helps the growth of Altcoins so if Bitcoin disappears there will be a very big impact. sharp decline in altcoin prices, the point is that in cryptocurrency Bitcoin will always be there and of course be the king of crypto because that is what it is.

and to be honest, I also invest in altcoins and the reason I am interested in altcoins is of course because I see BTC whose price is always fluctuating and BTC movements can always be relied on to analyze the market. and in my opinion, destroying BTC will not be easy. because btc is a good coin.

What I honestly do think is that, even though in the future, the crypto industry will still survive and even do well without bitcoin, but for now, the industry is still too young, Bitcoin is the only backbone holding the industry at the moment, if for what ever reason bitcoin collapses, then believe it that the entire crypto industry will collapse as well, there is no two ways about this.

Anybody saying that the industry does not need bitcoin to survive at this moment is possibly day dreaming, and I advice them to wake up, until bitcoin's market dominance drops to like 10 percent or lower, bitcoin will continue to be the one holding the entire crypto market.

Interesting perspective! While it's true that the crypto industry has evolved, I believe Bitcoin still plays a crucial role as the backbone, ensuring security and stability. The comparison to a window in the past technology era is intriguing, but Bitcoin's robustness and widespread adoption make it a unique and essential element in the crypto ecosystem.

It's actually an old analogy that has been thrown around a couple of times by the so called BTC-killers, yet none of those bringing up that analogy have killed BTC.

There is a major difference in the evolution from windows to mobiles compared to BTC - "BTC-killer". BTC is securing wealth and it is truly scarce. Security + scarcity. If BTC can keep fulfilling these two value propositions, it will continue to stay relevant. The protocol is also agile, meaning it can be improved, updated or changed if necessary. It also has a proven track record, which is extremely important for a network protocol securing wealth. Additionally, it grew organically because it was under the radar for many people, institutions and other actors around the world.

Cardano is now sitting at 2.5% the market cap of BTC. The reason for Cardano to carry that much value is the timing. I Cardano was to be launched today, it would probably not be found on the first page of Coinmarketcap.

For coins with a history of many years, the market cap can be a relatively good indicator of the trust people put into the security model. BTC survived so many attacks that I am sure nobody can come up with a true number of tries to take it down or harm it significantly. This will reinforce trust, which in turn means more incentive for people to store their wealth in the BTC network, which in turn will lead to improved infrastructure, which in turn...

Comparing this with Windows - mobile doesn't make sense. BTC is about a security promise + proof. Windows - mobile is catering to changed life circumstances. It is about mobility and availability where security is an important side-condition for most people. In BTC, nobody would store their wealth in the network when security was secondary.

Seriously, this whole "crypto without Bitcoin" debate is like arguing if coffee needs caffeine. Sure, alternatives exist, but the OG sets the standard.

I wouldn't say he's wrong. But if Bitcoin suddenly die or gone, most coin (including Cardano) and many company probably wouldn't survive. Only few cryptocurrency with big community (such as ETH) or strong usage/feature (such as XMR for privacy/anonymity) might survive.

That's true, and I'm one of those who strongly believe that this industry depends largely on Bitcoin. That's why we get to find the market dip tremendously whenever Bitcoin dumps. Only a few alts escape such dips whenever it happens. The knowledge of this is what makes me believe this industry isn't going anywhere, at least not until Bitcoin disappears. It's hard for the powers that be to destroy Bitcoin and that's what's keeping this industry going.

I think the crypto world will be destroyed if bitcoin doesn't exist, I think we'll see the reality, if bitcoin goes down then altcoins will also go down and if bitcoin goes up then altcoins will also go up. and currently the price of bitcoin is falling, of course everyone knows that altcoin prices are also falling and people who don't have extensive knowledge will panic and sell their altcoins even though they are experiencing losses.

and when you want to invest in altcoins or trade altcoins, of course the target is to look at BTC first because BTC movements really influence altcoins.

It is true that there are always altcoins whose prices rise when the BTC price falls, but this will not last long because these altcoins rise due to hype or are usually just listed on the market, of course the increase will not last long.

So I think the absence of Bitcoin or the fall in BTC prices will certainly have a big impact on altcoins.

I believe that bitcoin has a big impact on a number of other cryptos but there is no reason other coins can have any impact on bitcoin. Most people are present in the crypto industry because they see the extraordinary capabilities of Bitcoin and other coins as just a stepping stone to owning them. This is different from coin development which always tries to provide competition so that coins survive and have value in the market, but not many are able to survive because of various conditions that make the coin not fundamental.

In terms of people's interest, perhaps all cryptocurrencies have a role in making people interested in crypto, but this is only a formal effort regarding people's interest in entering the crypto space. If we can be honest, what people are looking for in this industry and that cannot be separated from just a question of profit. While the process of achieving profit means that people may have the opportunity to use Bitcoin or other coins, depending on the opportunities and knowledge that person have.

I don't know what will be my stance towards what he said because TBH, what he's saying might be true.

I mean with lots of altcoins emerging already, and some of them are giving a solution towards the problems of Bitcoin, there might be time in the future where Bitcoin will not be at the top anymore because we don't need it.

On the other hand, there are these new investors who only invests into Bitcoin. There are traders who are trading into Bitcoin most of the time. Overall, there will still be people that needs Bitcoin one way or another. I'm thinking how will the crypto industry will be without Bitcoin?