No other currency - page 6. | Bitcointalksearch.org

Kyraishi

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Quote from: josephrioveros123 on October 14, 2019, 03:56:28 AM

What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?

This is an interesting point of view. We've into really talked about what effect Bitcoin has on other altcoins due to the dominance it shows over the market.

I would estimate it wouldn't have much of an effect - we don't see a lot of things from the altcoin world that actually affect the BTC price and we'd have more money in BTC (due to lack of options).

Yaunfitda

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Quote from: josephrioveros123 on October 14, 2019, 03:56:28 AM

What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?

Obviously, cryptocurrency will just put everything on bitcoin, but it's hard to say what will be the price though. Maybe we won't see much media attention to it so only few percentage of the whole population will get to know what bitcoin is.

So in a hindsight, we might be in the say position right now or even lower if bitcoin is the only cryptocurrency in it's existence.

Mandoy

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If there were no altcoins today then it is already self-explanatory. Bitcoin will already hit 100k dollars if there are no altcoins since all the funds that will be thrown on the altcoins will be focused and centered on bitcoin. I have no doubts about my claim since if you notice currently the bearish trend for bitcoin will also mean bearish flow for altcoins. This is a sign that people are really into bitcoins and without any altcoins bitcoin will be at 100k dollars or more.

kayvie

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Quote from: Astvile on October 14, 2019, 04:29:06 AM

Bitcoins price will surely not the same as today, it is sure that price will be higher because investors don't have any choice to pick if they want to invest in cryptocurrency because there is only one and its bitcoin. So surely the demand will overflow that will cause bitcoins price to rocket up in a stable and fast phase.

It is possible, all the demand will go to bitcoin where there is no other cryptocurrency to invest with. Its price will be unimaginable.
But it is also impossible for bitcoin to increase its price. Altcoins are created to use as an alternative of bitcoin and without having an alternative will be a different matter. Its demand won't increase this much because altcoins take a big part in bitcoin to increase its demand.

Genemind

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I don't see any competition between altcoins and Bitcoin so if ever there's no other currency except for Bitcoin, I believe that it would still stay as it is today or the price could even get higher because most investors will focus only on investing in one digital currency. There will only be a competition between bitcoin traders. There will be a higher demand which could affect its price positively.

goto22

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Quote from: josephrioveros123 on October 14, 2019, 03:56:28 AM

What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?

No altcoins would mean no ICO fever. That would mean no increase in prices, no new investors coming into the crypto space, no surge of BTC, and no coming out of the shadows. Bitcoin maybe wouldn't even be alive today if there were no altcoins.

Astvile

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Bitcoins price will surely not the same as today, it is sure that price will be higher because investors don't have any choice to pick if they want to invest in cryptocurrency because there is only one and its bitcoin. So surely the demand will overflow that will cause bitcoins price to rocket up in a stable and fast phase.

gandame

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Quote from: josephrioveros123 on October 14, 2019, 03:56:28 AM

What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?

I think if there ni other altcoin butcoin will goes up the price because they are focusing in one crypto that is bitcoin. All there attention goes to bitcoin so the price will go up because i think they will be buy more bitcoin and keep it.

achach

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I would say that there is no other currency except bitcoin

ChrisPop

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I don't think the existence of other cryptocurrencies has a major impact on the Bitcoin price. After all the Bitcoin dominance is at around 70% of the total crypto marketcap. That indicates that altcoins only represent 30% of the market. However the "extinction" of altcoins would bring some funds to the BTC cap, but not so much that I'd call it a big influential factor.

Ailmand

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I think bitcoin price or the demand for bitcoin would not reach as it is today. Bitcoin reached this point because there is competition, developers are pushed to develop projects further because of competition to gather more attention from investors, thus it create more demand.

TheUltraElite

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Quote from: josephrioveros123 on October 14, 2019, 03:56:28 AM

What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?

Then it would be same as what fiat is today. People would decide on a price for different articles in the marketplace and buy then as per their needs. The only thing is that deflationary supply makes it rise in price and inflation would not happen. Prices of stuff would decrease in the long run instead of increasing, because the bitcoins are being rarer.

But it does not mean that if such an economy would exist then another currency would not come into view. Gold and precious metals would always exist and they have a bustling market as well. In the absence of fiat, what you hypothesize of, precious metals would become similar to money tenders.

MATHReX

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See, in the hypothetical situation where there is no other cryptocurrency than Bitcoin.
We would have never reached the potential that we have today for the cryptocurrencies because it was not just the BTC but so many other alt-coins that made news and spread the word about it.
Moreover, the TPS of BTC is so low that it would never reach mass adoption because even here, the higher TPS alt-coins made it possible to use cryptocurrency for day-to-day purchases and transactions, thus reaching mass adoption.

So, the price wouldn't be high but very low.

josephrioveros123

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What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?

Topic: No other currency - page 6. (Read 750 times)