I felt like seeing a movie and opened my streaming app (Netflix) to make a selection of a movie to see and I became confused which to select because of the many choices that I saw. I immediately had this thought that it is the same way people who have the interest of investing in cryptocurrency become confused the one to invest in when they find out that there is bitcoin and many other altcoins. Many people become confused and make mistakes because of the many options they have in cryptocurrency, they fail to invest in bitcoins because they think that there are many other very good options. Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
I have to disagree about that since we all know that bitcoin is the driving force of crypto so it’s a given fact that wise investors will always chase for bitcoin no matter what. Those altcoins are just cloned from the image of bitcoin so if you are here to invest for maximum profits, then you should prioritize investing in bitcoin rather than trying your luck in altcoins. 
Topic: People will choose bitcoins more if the number of cryptocurrency option is less. (Read 661 times)
February 16, 2023, 04:41:35 PM
February 16, 2023, 04:37:47 PM
I felt like seeing a movie and opened my streaming app (Netflix) to make a selection of a movie to see and I became confused which to select because of the many choices that I saw. I immediately had this thought that it is the same way people who have the interest of investing in cryptocurrency become confused the one to invest in when they find out that there is bitcoin and many other altcoins. Many people become confused and make mistakes because of the many options they have in cryptocurrency, they fail to invest in bitcoins because they think that there are many other very good options. Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
Would literally be yes if there are no other options on which people would be sticking into Bitcoin but its inevitable that there would be always that someone who would really be considering on creating something new basing up into that specially if they do see that the main or original one do really get that huge support.They would be normally be creating much more better and something that they could really say that it would really be able to snatch up some marketshare and would be making money for its developers.
Competition is really there but there's nothing to worry because even how many coins that we do have in the market but still Bitcoin do get the outmost support and the largest community among them all.
It cant be beat up so easily.
February 16, 2023, 02:59:10 PM
I felt like seeing a movie and opened my streaming app (Netflix) to make a selection of a movie to see and I became confused which to select because of the many choices that I saw. I immediately had this thought that it is the same way people who have the interest of investing in cryptocurrency become confused the one to invest in when they find out that there is bitcoin and many other altcoins. Many people become confused and make mistakes because of the many options they have in cryptocurrency, they fail to invest in bitcoins because they think that there are many other very good options. Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
This is a difficult question....
On the one hand, indeed, if there were not such a huge number of different alternative cryptocurrencies, tokens and NFTs, then people could invest more money in bitcoin.
On the other hand, it is precisely the huge number of different crypto assets that leads to the fact that each crypto enthusiast finds among them exactly the asset that he is interested in studying and in which he wants to invest.
At the same time, in the long term, the price of all alternative crypto assets decreases. Their capitalization is transformed into the capitalization of bitcoin.
In addition, various alternative cryptocurrencies serve as experimental laboratories for testing various technologies that will later be implemented in the Bitcoin code.
and this will certainly be a panic when all crypto capitalization leads to bitcoin so that bitcoin's dominance strengthens. some of the alternative cryptos that are made experimental will just be abandoned altcoins. quite a lot of altcoins were abandoned when experiments failed and were only produced as speculation. in fact a lot of new altcoins have appeared and some crypto users are forced to enter new altcoins which are only used as experimental and will become hype at the start of their release, then disappear.
https://coin360.com/
February 15, 2023, 12:17:03 PM
I felt like seeing a movie and opened my streaming app (Netflix) to make a selection of a movie to see and I became confused which to select because of the many choices that I saw. I immediately had this thought that it is the same way people who have the interest of investing in cryptocurrency become confused the one to invest in when they find out that there is bitcoin and many other altcoins. Many people become confused and make mistakes because of the many options they have in cryptocurrency, they fail to invest in bitcoins because they think that there are many other very good options. Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
This is a difficult question....
On the one hand, indeed, if there were not such a huge number of different alternative cryptocurrencies, tokens and NFTs, then people could invest more money in bitcoin.
On the other hand, it is precisely the huge number of different crypto assets that leads to the fact that each crypto enthusiast finds among them exactly the asset that he is interested in studying and in which he wants to invest.
At the same time, in the long term, the price of all alternative crypto assets decreases. Their capitalization is transformed into the capitalization of bitcoin.
In addition, various alternative cryptocurrencies serve as experimental laboratories for testing various technologies that will later be implemented in the Bitcoin code.
February 15, 2023, 12:05:52 PM
Nice analogy with what you were doing and also makes me think you are involved with crypto a lot. One can only think about or relate stuff when Back of the mind they are thinking about it and correlate it with the surrounding stuff.
Since we are in an independent market we can not stop peeps using blockchain and developing projects they want. I think if we had only bitcoin in circulation then effect would have been “bored”. Like someone might have used it but over the time that buzz would have gone which we see today.
The market consist of btc - alt pair and there is huge volume that is traded between the two. I think it’s keeping the healthy economic circle in crypto. Bitcoin is still most liked one.
Since we are in an independent market we can not stop peeps using blockchain and developing projects they want. I think if we had only bitcoin in circulation then effect would have been “bored”. Like someone might have used it but over the time that buzz would have gone which we see today.
The market consist of btc - alt pair and there is huge volume that is traded between the two. I think it’s keeping the healthy economic circle in crypto. Bitcoin is still most liked one.
February 15, 2023, 11:53:04 AM
Only someone who don't know any thing about cryptocurrency will be confuse on which cryptocurrency to choose but someone who have done research about cryptocurrency will definitely know bitcoin is the best to choose for investment because while comparing the value, reliability, accessibility, risk and other factors bitcoin is the best. Every other altcoins are trying to be like bitcoin which mean bitcoin is original, with all these qualities I don't see why one should be confused to make a good choice on what to choose. It just only one that is blank that will be confused.
February 15, 2023, 10:48:57 AM
I kind of agree with OP. But, Not with the complete statement.
On a platform, it will suggest to you the most watched and most viewed or popular series. You have to choose which one you want to watch. Right? There are many choices in everything. But, eventually, you have to make your own decision. The same thing applies to crypto as well. Bitcoin is the leading crypto in the market and it's secure. You have to understand it's feature and why Bitcoin is better than other crypto currencies.
On a platform, it will suggest to you the most watched and most viewed or popular series. You have to choose which one you want to watch. Right? There are many choices in everything. But, eventually, you have to make your own decision. The same thing applies to crypto as well. Bitcoin is the leading crypto in the market and it's secure. You have to understand it's feature and why Bitcoin is better than other crypto currencies.
February 15, 2023, 09:59:23 AM
I felt like seeing a movie and opened my streaming app (Netflix) to make a selection of a movie to see and I became confused which to select because of the many choices that I saw. I immediately had this thought that it is the same way people who have an interest in investing in cryptocurrency become confused about the one to invest in when they find out that there is bitcoin and many other altcoins. Many people become confused and make mistakes because of the many options they have in cryptocurrency, they fail to invest in bitcoins because they think that there are many other very good options. Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
Another problem is that people are confused about the term cryptocurrency. They usually assume that every coin in the crypto market is okay. Some of them don't know the difference between bitcoin and other coins. Due to the longevity and influnce of bicoin they think that buying any other coin will give the same result as bitcoin. I agree that having fewer coin will promote bitcoin adoption but nobody can stop these fakecoiners to stop rolling out more shitcoins. February 15, 2023, 09:15:17 AM
I felt like seeing a movie and opened my streaming app (Netflix) to make a selection of a movie to see and I became confused which to select because of the many choices that I saw. I immediately had this thought that it is the same way people who have the interest of investing in cryptocurrency become confused the one to invest in when they find out that there is bitcoin and many other altcoins. Many people become confused and make mistakes because of the many options they have in cryptocurrency, they fail to invest in bitcoins because they think that there are many other very good options. Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
Not all blockchains address the same necessities. So there is some justification for choice. Nonetheless, there are probably too many resources going into somewhat redundant choices.
February 15, 2023, 09:07:15 AM
~snip~I think the future between Bitcoin and Altcoins is much different, even though there are some altcoins that have the same characteristics and attractions as Bitcoin, I don't think this will ever be the same. people will save Bitcoins for the good future, while Altcoins cannot be said to hold good for the future, but there may be some of them that are good, but the bottom line is they will not be the same as Unique Bitcoins.
Never the same, Altcoins and Bitcoin are very different. Some of the main differences between Bitcoin and Altcoin are that Bitcoin has a larger market capitalization compared to Altcoin which is divided by many altcoins. Some altcoins have good development and almost match bitcoin such as ethereum. No one doubts ethereum, but it is still below bitcoin. Bitcoin is a more stable asset than altcoins that are still affected and dependent on bitcoin. I keep bitcoin and some altcoins as my current portfolio. Maybe in the long run it will be profitable.
~snip~
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People will choose bitcoins more if the number of cryptocurrency option is less.
At this stage, its too late for this as bitcoin and all other altcoins have already take flight and we have thousands of coins on the market which makes this all wishful thinking... But then again having more of these altcoins makes cryptos a success as there is a coin for everyone's interest , be it health support, soccer fan coins, loyalty based tokens and many others which contribute in bringing interest to the crypto world. More altcoins are profitable if they can grow and provide good capitalization in the market. But for altcoins that will only become garbage, it will be of no use. Only used as a momentary market speculation.
February 15, 2023, 08:45:47 AM
I felt like seeing a movie and opened my streaming app (Netflix) to make a selection of a movie to see and I became confused which to select because of the many choices that I saw. I immediately had this thought that it is the same way people who have the interest of investing in cryptocurrency become confused the one to invest in when they find out that there is bitcoin and many other altcoins. Many people become confused and make mistakes because of the many options they have in cryptocurrency, they fail to invest in bitcoins because they think that there are many other very good options. Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
Nevertheless, there are top films in Netflix, which is always very easy for you to co-orient in a large number of films. It is only necessary to sort by rating. Similarly, in the world of cryptocurrencies, you can easily go to Coingeco, for example, or Coinmarketcap, and see the most rated altcoins. And already choose from them which one you like more in terms of ideas and implementation.
February 15, 2023, 08:37:23 AM
Bitcoin was the name when the pool of coins was so small for everyone, but interest in cryptocurrencies grew and people with all kinds of ideas got into this world and developed their own coins which has really divided the general interest in bitcoin alone...and definitely if the pool of coins were limited to a small number of coins, of course bitcoin would have been the talk of the day no doubt about this!
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People will choose bitcoins more if the number of cryptocurrency option is less.
At this stage, its too late for this as bitcoin and all other altcoins have already take flight and we have thousands of coins on the market which makes this all wishful thinking... But then again having more of these altcoins makes cryptos a success as there is a coin for everyone's interest , be it health support, soccer fan coins, loyalty based tokens and many others which contribute in bringing interest to the crypto world. 
February 15, 2023, 04:12:19 AM
But this does not happen to all Altcoins, I think only certain Altcoins can be used in situations to benefit from Altcoin Volatility, in general both choices between Bitcoin and Altcoins can be profitable, when the method used is wise.
There are a lot of altcoins, and of course, if there were fewer of them, then people would be more likely to pay attention to bitcoin, but I see that there are old-timers on the forum who don’t care how many altcoins there are and how many more new ones will appear, they don’t care and they buy only bitcoin.Indeed, this is an easy alternative when there are not too many Altcoin selection menus and will make people tend to choose Bitcoin, and this is one of the factors that will increase interest and adoption of Bitcoin, but especially for those who already understand Bitcoin, of course it will stay consistent with bitcoin, everyone is aware of this, the risks that arise will not be the same as Altcoins which are very volatile.
Bitcoin is the best investment choice for the long term and not for altcoins, because altcoins still depend on the state of bitcoin. The risks that arise will not be the same, and are more likely to be at risk for altcoins. Bitcoin has a stronger price and will not be influenced by altcoins. People who already believe in bitcoin, will not switch to an altcoin that has no future. Maybe there are some who choose altcoins, but altcoins still have the potential for development in the future.
In general, what determines the strength of Altcoin prices is Bitcoin, Bitcoin has a big influence on increasing Altcoins, but even so you can be sure that Bitcoin and Altcoins have different levels of risk, even though they live and develop side by side, Bitcoin will still be the main handle for each user, while Altcoins only some, some don't even use it, they stay focused on adding Main assets in Bitcoin.
I think the future between Bitcoin and Altcoins is much different, even though there are some altcoins that have the same characteristics and attractions as Bitcoin, I don't think this will ever be the same. people will save Bitcoins for the good future, while Altcoins cannot be said to hold good for the future, but there may be some of them that are good, but the bottom line is they will not be the same as Unique Bitcoins.
February 14, 2023, 01:29:56 PM
Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
There are thousands of cryptocurrencies available in the market but still bitcoin dominance is 40 to 50 percent. We have to understand the fact that bitcoin is the only fully decentralized cryto currency available in the market. Ethereum shifting from PoW to PoS is clear indication that its controlled by a group of developers who have the ability to manipulate it and same is true for other alts also. No matter how many alts we have, there is no threat to bitcoin dominance.
I think the dominance of bitcoin over other alternative cryptocurrencies out there is absolute and not 40 to 50 percent. There are a whole load of alternative coins with weirder names out there and no one comes even close to bitcoin. So you’re right in a way, cause no matter how many alt coins there is out there, there isn’t anyone amongst them that can be a threat to the dominance of bitcoin.
I also think that the number of different cryptocurrencies out there would confuse the ignorant newbie on what coin to invest in.
February 14, 2023, 12:10:29 PM
Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
There are thousands of cryptocurrencies available in the market but still bitcoin dominance is 40 to 50 percent. We have to understand the fact that bitcoin is the only fully decentralized cryto currency available in the market. Ethereum shifting from PoW to PoS is clear indication that its controlled by a group of developers who have the ability to manipulate it and same is true for other alts also. No matter how many alts we have, there is no threat to bitcoin dominance.
February 14, 2023, 11:51:57 AM
But this does not happen to all Altcoins, I think only certain Altcoins can be used in situations to benefit from Altcoin Volatility, in general both choices between Bitcoin and Altcoins can be profitable, when the method used is wise.
There are a lot of altcoins, and of course, if there were fewer of them, then people would be more likely to pay attention to bitcoin, but I see that there are old-timers on the forum who don’t care how many altcoins there are and how many more new ones will appear, they don’t care and they buy only bitcoin.Indeed, this is an easy alternative when there are not too many Altcoin selection menus and will make people tend to choose Bitcoin, and this is one of the factors that will increase interest and adoption of Bitcoin, but especially for those who already understand Bitcoin, of course it will stay consistent with bitcoin, everyone is aware of this, the risks that arise will not be the same as Altcoins which are very volatile.
Bitcoin is the best investment choice for the long term and not for altcoins, because altcoins still depend on the state of bitcoin. The risks that arise will not be the same, and are more likely to be at risk for altcoins. Bitcoin has a stronger price and will not be influenced by altcoins. People who already believe in bitcoin, will not switch to an altcoin that has no future. Maybe there are some who choose altcoins, but altcoins still have the potential for development in the future.
February 14, 2023, 10:25:00 AM
But this does not happen to all Altcoins, I think only certain Altcoins can be used in situations to benefit from Altcoin Volatility, in general both choices between Bitcoin and Altcoins can be profitable, when the method used is wise.
There are a lot of altcoins, and of course, if there were fewer of them, then people would be more likely to pay attention to bitcoin, but I see that there are old-timers on the forum who don’t care how many altcoins there are and how many more new ones will appear, they don’t care and they buy only bitcoin.Indeed, this is an easy alternative when there are not too many Altcoin selection menus and will make people tend to choose Bitcoin, and this is one of the factors that will increase interest and adoption of Bitcoin, but especially for those who already understand Bitcoin, of course it will stay consistent with bitcoin, everyone is aware of this, the risks that arise will not be the same as Altcoins which are very volatile.
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February 14, 2023, 10:12:57 AM
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Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
Yes yes.Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
It's like when you are in a class and you're the most intelligent, you will surely be at the top. Same with cryptocurrency. Bitcoin is at the top in terms of market cap, and it's the most trusted cryptocurrency that's why people will still prefer buying it than other altcoins out there.
Bitcoin being the most trusted cryptocurrency is enough statement already. 95% or maybe 97% of the altcoins are just pure crap and can't be trusted at all. Bitcoin will still be the #1 choice of investors.
February 14, 2023, 09:47:52 AM
I felt like seeing a movie and opened my streaming app (Netflix) to make a selection of a movie to see and I became confused which to select because of the many choices that I saw. I immediately had this thought that it is the same way people who have the interest of investing in cryptocurrency become confused the one to invest in when they find out that there is bitcoin and many other altcoins. Many people become confused and make mistakes because of the many options they have in cryptocurrency, they fail to invest in bitcoins because they think that there are many other very good options. Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
In this case, in my opinion, it is certain that they will choose bitcoin if there are only a few of them, but isn't it still the same, people will choose and the percentage of elections is at almost the same point. But don't we also need better comparisons and more variants, to see how good bitcoin is in its ranks, without lots of choices I think bitcoin's popularity will not be as great as it is now, because basically their altcoin developers are based on bitcoin or based on bitcoin and indirectly the altcoin network developers will bring bitcoin to their target market indirectly when marketing their products.What is certain in this consensus, in my opinion, is not the same as an analogy such as choosing a film or choosing food on a restaurant menu, because the orientation of thought in this matter has different indications.
February 13, 2023, 06:41:47 PM
I agree with your opinion and for me
bitcoin is the main option to invest my money. altcoins are an alternative and add value to my investment in order to get short-term profits even though you have to do research and be prepared to lose if there is fraud or something like that
bitcoin is the main option to invest my money. altcoins are an alternative and add value to my investment in order to get short-term profits even though you have to do research and be prepared to lose if there is fraud or something like that
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