Topic: What effect does a growing number of altcoins have on Bitcoin - page 2. (Read 984 times)
The emergence of altcoins is only a short-term phenomenon, while Bitcoin has existed for more than ten years, has withstood the test of time, and its technology is constantly improving. The emergence of altcoins is only for short-term benefits. Its technological development is not perfect and it is easy to be attacked and disappear. However, Bitcoin has accumulated a lot of computing power in the early stage of development, and it is difficult to be attacked by 51%. Altcoins have little impact on the long-term development of Bitcoin.
What I could say is that it doesn't matter how many altcoins will be created as it never affects the market trend of Bitcoin and I know that Bitcoin will go to the moon in no specific time frame. It is not game-changing I think because investors had already known what particular coin they will invest and they surely don't bother themselves to waste their time looking for nonsense projects. Because at the end of the day, they will still choose Bitcoin over the others.
I think bitcoin will still remain the most influential crypto today, i mean there are also huge altcoins arised like ethereum and binance and others and keep on arising like many altcoins but as of today what we can witnessed is that the market movement of bitcoin is really affect the market movement of other crypto. I think that the growing number of altcoins doesn't really affect or even threat on the existence of bitcoin.
So what could be the long term effect of having more altcoins on the market, will they help build or break bitcoin?
Could exchanges play a major role in ensuring shitcoins don't get to see daylight to protect coins that are established to grow?
In fact, altcoins do not have much influence on Bitcoin, but Bitcoin has influence on altcoins. For example, when altcoins fall, it is still business as usual for Bitcoin, but when Bitcoin falls, altcoins will basically fall with it. , And Bitcoin has been developing for ten years, and the technology is getting better and better, and Bitcoin will definitely get better and better.
I agree that when it comes to price, altcoins will have no effect on Bitcoin. This means that the price of Bitcoin will not be affected by altcoins,
but on the other hand the price of Bitcoin can affect the price of altcoins. But altcoins can have another effect on Bitcoin, because with the many
altcoins that have sprung up, it can increase the popularity of Bitcoin. Most traders use Bitcoin pairing when trading altcoins, this is what makes
Bitcoin more attractive.
Bitcoin is very influential as the largest cryptocurrency. Many investors tend to invest in Bitcoin. Some people are now infiltrating new and innovative altcoins. The price of most altcoins usually follows the price of Bitcoin, but sometimes when Bitcoin falls, the price of altcoins soars. This is because some investors withdrew funds from Bitcoin and turned to altcoins.
Will also be affected a little. Bitcoin is the king of encryption, and the program code is open and transparent, so there will be new digital currencies that will continue to innovate in technology, that is, altcoins. Altcoins improve and perfect the shortcomings of Bitcoin. Some people will choose altcoins over Bitcoin, but it directly affects Bitcoin.
If looking for real innovation, alt coins can do better as it have more time to improved what lacking with
bitcoin, though there are lots of scam projects which is not good for this industry but those good projects
in the other hands impacting the progress and success as bitcoin still the benchmark of crypto market.
In fact, altcoins do not have much influence on Bitcoin, but Bitcoin has influence on altcoins. For example, when altcoins fall, it is still business as usual for Bitcoin, but when Bitcoin falls, altcoins will basically fall with it. , And Bitcoin has been developing for ten years, and the technology is getting better and better, and Bitcoin will definitely get better and better.
- If altcoins have no influence, why do their numbers continue to increase and the value of bitcoin has also increased from there? This is clearly a parent and subsidiary system, when the parent company wants to replicate its development but lacks the platforms and capital, they will need subsidiaries such as altcoins. Such a series of investment events each year has turned into a conference for bitcoin to conduct fundraising, altcoins are the bricks paving the way for bitcoin to move to the future faster I was just thinking, most new projects i.e the altcoins we have today are really not bringing anything new to the table other than enriching the devs themselves, who have these projects milking the life(value) out of established coins like bitcoin which could be the cause of been bearish or the extra load that's slowing bitcoin from going to the moon.
So what could be the long term effect of having more altcoins on the market, will they help build or break bitcoin?
Could exchanges play a major role in ensuring shitcoins don't get to see daylight to protect coins that are established to grow?
So what could be the long term effect of having more altcoins on the market, will they help build or break bitcoin?
Could exchanges play a major role in ensuring shitcoins don't get to see daylight to protect coins that are established to grow?
From the current perspective, even if a certain currency surpasses Bitcoin in the technical field, it will take a long time for the value to surpass Bitcoin. I firmly believe that the influence of Bitcoin will increase in the future. The current altcoins have been controlled by greedy human nature, many of which are simple plagiarism, worthless innovations, and even scams. Many air coins, really like the author said, are constantly squeezing the value of Bitcoin, using the trend of Bitcoin to carry out some unexpected activities, rather than impressing me through faith and a perfect economic model. I am sometimes disappointed. If you think about it from another angle, things must develop like a candlestick chart, with twists and turns.
In fact, altcoins do not have much influence on Bitcoin, but Bitcoin has influence on altcoins. For example, when altcoins fall, it is still business as usual for Bitcoin, but when Bitcoin falls, altcoins will basically fall with it. , And Bitcoin has been developing for ten years, and the technology is getting better and better, and Bitcoin will definitely get better and better.
It seems that although there are many altcoins on the market, they have not been able to exceed the price of Bitcoin. Many of these altcoins have risen quickly, but they have fallen suddenly.
The appearance of these altcoins cannot affect the price of Bitcoin. On the contrary, they are all affected by Bitcoin, and the advantages of altcoins are not very obvious. Bitcoin is far superior to other altcoins in terms of network and application. Altcoins can make up for some of the deficiencies of Bitcoin, but you want to It is still difficult to surpass Bitcoin.
The appearance of these altcoins cannot affect the price of Bitcoin. On the contrary, they are all affected by Bitcoin, and the advantages of altcoins are not very obvious. Bitcoin is far superior to other altcoins in terms of network and application. Altcoins can make up for some of the deficiencies of Bitcoin, but you want to It is still difficult to surpass Bitcoin.
Will also be affected a little. Bitcoin is the king of encryption, and the program code is open and transparent, so there will be new digital currencies that will continue to innovate in technology, that is, altcoins. Altcoins improve and perfect the shortcomings of Bitcoin. Some people will choose altcoins over Bitcoin, but it directly affects Bitcoin.
Whether it affects Bitcoin or replaces Bitcoin depends on the development of altcoins. Because altcoins are now vulnerable to 51% attacks, and Bitcoin has accumulated a lot of computing power in the early stages of development, the current situation is that the cost of 51% attacks is huge.
Many ALT's are far superior to bitcoin, thus the alt force the senile dev-core-btc team to update their source, but in time, btc will fall behind and become a forgotten disabled alt
There are 100's of solid alt's today, and many of them don't spend a nickle on marketing, its all dev; Smart people stay on the watch, know them and hold them; Buy them now while their cheap.
First isn't an anchor, just look at Lotus-123 from the 1980's, now long gone.
First of all you do not need huge red letters to make your point across, second you do not seem to understand the true nature of bitcoin, you make it seem as if the technology of bitcoin is obsolete when that is not the case, but the power of bitcoin not only comes from its technology, bitcoin is money and a network, a network is more valuable the more people are in it, bitcoin has 100 million people on its network and I doubt all alts combined actually have 10% of that in which case they will never surpass bitcoin. There are 100's of solid alt's today, and many of them don't spend a nickle on marketing, its all dev; Smart people stay on the watch, know them and hold them; Buy them now while their cheap.
First isn't an anchor, just look at Lotus-123 from the 1980's, now long gone.
Well I would say there is only a negligoble or no effect on bitcoin of these altcoins...specially those altcoins which dont have any potential but just a name...bitcoin is way too strong to be effected by all these coins
I agree with you. I believe that even the best Altcoin projects can not really slow down or affect Bitcoin in any negative way talk less of all the other ALTs that we know as OP mentioned don't really bring much if anything at all to the space other than enriching the Devs and collapsing in a crypto currency cycle.On the other hand, I don't suppose exchanges can do much since if the projects Mets their requirements, they get listed and will continue to list invaluable ALTs as long as they are marking their own profits from that too. Remember that this is a business space.
Many ALT's are far superior to bitcoin, thus the alt force the senile dev-core-btc team to update their source, but in time, btc will fall behind and become a forgotten disabled alt
There are 100's of solid alt's today, and many of them don't spend a nickle on marketing, its all dev; Smart people stay on the watch, know them and hold them; Buy them now while their cheap.
First isn't an anchor, just look at Lotus-123 from the 1980's, now long gone.
Pick the alt's that have better purpose than btc, that have better privacy, and that have a longer shelf-life ( using crypto 2020, no crypto 1990's )
The next BTC 2.0 will not be the coin with the most bullshitters marketing it, it will be the tortise&hair coin, that comes up from behind, because its the best quality, not because of marketing like ETH, or cultish followers like Bitcoin.
POC ( capacity ) will be interesting if they can resolve the 'fake plot' issue. Right now we're in a wash-out next 1-2 years btc will plummet, and some coin now at #80 rank will move forward; They need to resolve the problems, today too many coins (+12k shit-coins ) are really just btc-clones with pre-mining an no purpose ( other than enriching dev )
Well I would say there is only a negligoble or no effect on bitcoin of these altcoins...specially those altcoins which dont have any potential but just a name...bitcoin is way too strong to be effected by all these coins
I agree with you. I believe that even the best Altcoin projects can not really slow down or affect Bitcoin in any negative way talk less of all the other ALTs that we know as OP mentioned don't really bring much if anything at all to the space other than enriching the Devs and collapsing in a crypto currency cycle.On the other hand, I don't suppose exchanges can do much since if the projects Mets their requirements, they get listed and will continue to list invaluable ALTs as long as they are marking their own profits from that too. Remember that this is a business space.
I was just thinking, most new projects i.e the altcoins we have today are really not bringing anything new to the table other than enriching the devs themselves, who have these projects milking the life(value) out of established coins like bitcoin which could be the cause of been bearish or the extra load that's slowing bitcoin from going to the moon.
So what could be the long term effect of having more altcoins on the market, will they help build or break bitcoin?
Could exchanges play a major role in ensuring shitcoins don't get to see daylight to protect coins that are established to grow?
Increasing the number of projects certainly slows down the growth rate of bitcoin like coins because people are picking those shitcoins which are hyped by the exchange or other sources to make those people to believe that this coin is going to be the next bitcoin so please invest all your coins.So what could be the long term effect of having more altcoins on the market, will they help build or break bitcoin?
Could exchanges play a major role in ensuring shitcoins don't get to see daylight to protect coins that are established to grow?
Exchanges as well involves but their goal is to make money on that they will get succeed but as a investor they should not invest on such risky things.
There are already more than 10,300 types of cryptocurrencies on the cryptocurrency market. It cannot be said that they do not affect the price of bitcoin, since investors invest a significant part of their capital in altcoins. This is evidenced by the fact that in terms of price dominance, the share of bitcoin is only 41.4 percent and this figure continues to fall. However, this is a completely logical and normal process. Cryptocurrency continues to develop rapidly, new ideas appear, although useless altcoins occupy a significant part of it. However, over time, all useless will go away, competition in this market will leave only the strongest.
directly it will have no impact. even if every second a new altcoin is released, it doesn't make bitcoin budge. but even so there is an impact for the market, if many altcoins are released and the average is shitcoin, the market will lose investor confidence. when the confidence level falls, people will rethink buying and as a result there may be a sell wave.
Counterfeit currencies may be a bit too optimistic about their prospects, at least for the time being, their weak advantages are far from making up for the troubles caused by multiple currency exchanges. If Bitcoin does not have major flaws in the future, only relying on network advantages and application convenience will be enough to defeat other counterfeit currencies. I think counterfeit currencies are indeed just counterfeit, and "continuous emergence" is only a short-term phenomenon. After this historical period of "continuous emergence" has passed, Bitcoin is the most promising one to stay. Of course, its deflationary nature will not change.
Some altcoins have better features than bitcoin, some features like blocks each minute or smart contracts or low transaction fees are good for the cryptos environment. Is nice to have the option to change our bitcoin to dogecoins and only spend 1 doge as fees on transactions. And is cool to be able to change or Bitcoins to anonymous coins like zcash or monero and lose the track of our coins.
So, I think the effect is positive because altcoins give us the opportunity to do what we can't do with bitcoin.
So, I think the effect is positive because altcoins give us the opportunity to do what we can't do with bitcoin.
Actually, with the many altcoins currently circulating, it has both positive and negative effects. But I prefer to focus on the positive effect it will have
on Bitcoin and investors. One of the positive effects that will occur will be that many people realize that Bitcoin is much better than any other coins.
Because as we know as well as any features altcoins offer, investing in Bitcoin is much safer and more profitable, especially for long term investment.
Then the positive effects obtained by investors are the many altcoins, makes us as investors have many choices of coins that we can buy. Moreover,
as you said there are some features of altcoins that Bitcoin cannot provide and that will benefit us. So the combination of Bitcoin and altcoins makes
the crypto world look even more perfect.
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