Topic: What would happen if there was only one cryptocurrency, which is Bitcoin? - page 2. (Read 1089 times)

Well, to me Bitcoin is the only crypto. Bitcoin is King Daddy. Therefore I never call altcoins altcoins - they will always be sh*tcoins for me.

But anyway, back to the topic... I don't share your opinion that Bitcoin's price would be lower, just the opposite - it would be definitely higher if Bitcoin would be the only crypto out there. See, every sh*itcoin has some market cap. And if they would disappear, this money would most likely flow into Bitcoin.

Yup.

That's what will happen to most of the alts when majority of the people understands the concept of owning Bitcoin. We'll still have a lot of alts by that time.

But there's going to be a purge that's likely to happen by that time because everyone sees that there's going to be a significance of owning Bitcoin rather than having majority of the alts and diversify on them.

Ask the OP in return whether you think the only thing that exists without being forced to has value or not. Well, what I'm talking about is both material and nonmaterial values ​​that we seek, and any tool that people seek must solve the problem they need. I can envision the growth and widespread adoption of bitcoin, but I wouldn't think it is unique because it creates a connection rather than just an asset for people to use who accumulate or use transactions simply.

If we admit it frankly, we always understand that the limitations of this field have been and are emerging, so the fact that it is increasingly innovated and upgraded is something we need to adapt to, not worship it in an absolute position.

In the end Altcoin will only wait for their deaths after a few years they are running and receive market attention, because they only focus on certain technological categories so that if they are not needed again they will die by themselves, while Bitcoin is outline is the most revolutionary discovery and Can adapt to all kinds of industrial needs, as well as why Bitcoin will always survive because Bitcoin is not only made as a currency but as a store of value of all that exists.

I am aggree with the sentence that the existence of Altcoin shows that competition and development of the cryptocurrency industry is increasingly widespread, with the Altcoin project that is marketed by the developer so that the common adoption of Crypto will ultimately recognize Bitcoin because of Altcoin, I think it does bring knowledge to the development of popularity .

It's not about boredom if it's Bitcoin but about the focused of most people that are involved in here. But because the early adopters have seen that there can still be some upgrade that they can do for Bitcoin but they can't apply on it, they have made their own solutions through different altcoins.

But if we only have Bitcoin that's existing as of now, we would have that much value for Bitcoin. But it's okay, we're going to that point soon that most of these alts will be eliminated and there will be a few of them remaining while supporting Bitcoin still as the top 1.

If there's no bad we wouldn't know what's good and the value of that which is good. It is the availability of altcoins that has made bitcoin stand out as a better and reliable coin than them all. Have you asked if there were no alts what would you have used to explain why and what makes bitcoin the best. There wouldn't have been any comparison and it would have been boring.

I cherish the competition that exists among the cryptocurries, the competition has been what has driven bitcoin into the the hearts of the adopters, if there wasn't competition it would have been a boring crypto space and people would not have taken bitcoin so seriously as they do currently.

No other competitor to bitcoin that is right but if you mean if there is no other crypto currency in the market then what will be the effect on the price of bitcoin? Yes, if there is no currency other than Bitcoin then Bitcoin will have no value. Other cryptocurrencies act as a supporter of Bitcoin in the market and trading in pairs with other currencies creates a positive or negative effect on Bitcoin.

I agree with you, boss, but based on the opinions that others have shared concerning these same topics, some said that if it were to be only Bitcoin as the only cryptocurrency, then there would be no competition in the crypto space, which will make some people not have that much zeal to invest, but since we have other altcoins in the market and many other Altcoins that have failed, it also proves to people and investors that Bitcoin is the best.

Bitcoin is the first love of the cryptocurrency world, and its domination is unshakeable! Its pioneer position provides it an edge, like a cryptocurrency celebrity. Bitcoin is the cyber gold standard due to its size and security.

Bitcoin's ideology, decentralized and unchanging monetary policy, makes it unique, not merely being first. The combination of technology and trust makes it more than digital gold - it represents financial development. Altcoins are like new ice cream flavors - interesting but not enough to replace the classic flavor everyone loves.

What about price? Standard supply and demand with a market sentiment twist. Bitcoin capitalises on investor emotions, producing a captivating but risky investment story. Like a high-stakes game where everyone knows the name but cant anticipate the conclusion. Exciting, right? Bitcoin's resilience while altcoins rise? Its stunning and shows ingenuity and belief's power.

If there were no other cryptocurrencies apart from bitcoin, it is likely the price would be a lot higher. With no alternative cryptocurrencies to divert investor attention or capital demand for bitcoin could potentially increase, leading to a rise in the price.

Bitcoin doesn't have competition ok but if there is competition bitcoin can't compete with it and rise above it. In a flat market bitcoin is on top of all currencies and more popular The value of other currencies increases depending on the price of Bitcoin. Altcoins are good to hold with bitcoin but will not rise to the top like Bitcoin. Bitcoin rises in value based on its demand and supply Investing in other coins for profit is very difficult to guarantee but most of the time they are scams.

Without altcoins, I personally believe that the price of bitcoin will so much high, that is, very expensive that it might become really useless for most people to buy it, or invest in it.

And aside from the above, I also feel that if there were no alternative chains, the bitcoin blockchain by now will be completely unusable, as the mempool will forever be clogged, making the rich guys to only be the ones who can transact in bitcoin, and average guys will have to wait up to 30 days to get one blockchain confirmation on their bitcoin transaction even after paying a considerable high fees.

I am personally glad that we have alternative coins and chains, this I personally believe have contributed to the overall general growth of the cryptocurrency ecosystem and market, bitcoin alone wouldnt haw brought in all the crypto users we have today, because many would have been discouraged with investing in crypto if it was just bitcoin, and this is due to the cost of bitcoin, and also the cost of transactions on the blockchain.

Cryptocurrency isn't just represented by Bitcoin alone but also with altcoins. The crypto market gained too much attention because of these hyped altcoins and think that if there were only Bitcoin available, I couldn't really imagine that crypto become popular.
Until now, many people can't still believe what is happening to crypto and still assuming and asking "what if". It is too hard to say nor do we have any idea in the case that only Bitcoin exists, we can't travel back and start over again. So, whatever happens, these days will simply tell us that new technology will have the chance to gain such things, popularity, and value.

I got into Bitcoin initially because of altcoins. Yeah, I knew about Bitcoin first, but altcoins convinced me about cryptocurrency for a while. After they pulled off many scams, at the same time, it made me realize that Bitcoin was a better choice. Until now... altcoins are still an entry point for some people until they realize that the best cryptocurrency is Bitcoin.

I see cryptocurrency like a supermarket, where Bitcoin and altcoins are products on the shelves. People come to the store with many choices, meaning options other than Bitcoin are attractive in their own way. Even if they go for ETH, XRP, or BNB, or others, none can match the quality of Bitcoin. That's what makes everyone eventually switch from their initial wrong choice and start using Bitcoin exclusively at the end.

When the general public talks about Cryptocurrency, what comes to their mind is Bitcoin. Alternative cryptocurrencies are not competitors to Bitcoin, their founders have no intention of creating alternative coins as competitors to Bitcoin because they are very aware that they will never be able to surpass Bitcoin's popularity. As the prime mover or first Cryptocurrency ever, Bitcoin has advantages over other cryptocurrencies. Bitcoin has the largest network, the most legitimacy in the eyes of retail and institutional investors, investor confidence in Bitcoin because it is built on the most secure database in history.

Nothing will happen to Bitcoin even if it plays a single role because its price is very dependent on supply and demand. Just imagine Bitcoin being able to reach several ATHs even though it is side by side with Altcoins, especially since Bitcoin is the only Cryptocurrency that has ever existed. Even though thousands of other Altcoins have been circulating amidst Bitcoin's popularity, the Bitcoin community firmly believes that altcoins will not replace Bitcoin due to its fair and unchangeable monetary policy, a trait that no technology can fix.

I think if cryptocurrencies had only bitcoin and not other coins, then BTC price would have developed massively. Because we know there are currently more than 4k coins in cryptocurrency. If there were not so many coins in this world but only Bitcoin, then the price of Bitcoin would have increased rapidly, and its price would have skyrocketed. We know how much the price of bitcoin has increased currently and how high it is likely to go in the future, and how much ATH has been in the past. To answer your question accordingly, of course I think Bitcoin would have value outside of saying that. Without any competition the price of Bitcoin would have gone up like a bull run, and I think if it weren't for all the other cryptocurrencies all the investors would have flocked to Bitcoin and there would have been a lot of demand for Bitcoin. Whenever the demand for Bitcoin increases, the price of Bitcoin will continue to increase and the number of Bitcoin users will continue to increase. If there were only bitcoins we probably wouldn't have bitcoins today, even if we did get a small fraction, we would have to buy a lot of money.

So yeah, probably this is true if other coins (Altcoins) didn't exist, so there is no doubt that people didn't seem to be the eye of Disney towards the cryptocurrency market. Because there are no fears in the market that some altcoins and shitcoins have created. Obviously, dude, if you look at the thing covered with the most risk in the market, it is not so much volatility as it is from scams and rug pulls, while volatility can also give you a return on increasing your price. But even who will not be able to return the scam and the rug pull-up? Those people are hungry to steal money, so how will they be able to give you a return? Although Bitcoin is a volatile thing, despite that, it can give you a return for increasing its price, and there is no concept of lack of security or scam in Bitcoin, and it can't threaten you when you keep it safe, like a wallet (hardware wallet).

So, in my opinion, these were some of the reasons for which I understand and agree with you that if there were no Altcoins and shitcoins in the crypto market, then people would invest in crypto without hesitation and would not be afraid the same way. Which is now shitcoin scare by scam, and even altcoin is included, like Tara Luna. I hope I have explained the topic correctly.

Altcoins indeed help in spreading news about cryptocurrency.  Altcoin may not have the intention to spread information about Bitcoin, but Bitcoin being the most popular and dominant cryptocurrency gets the benefit of being introduced through means of comparison.

I always think that the Bitcoin price would have been way bigger than the current price if there was only Bitcoin.  Anything in the coin market cap will be placed  under the Bitcoin history and probably.

Having other cryptocurrency wouldn't cause Bitcoin to be any cheaper it will even make bit more expensive because the demand will be even higher than the supply so it's even better there are other altcoins where investors with smaller amounts can always invest in and still be profitable but they aren't as solid as Bitcoin because it's block chain is what most of other cryptocurrency rely on for their transactions as it's like the mother of them all.

Personally I don't think with Bitcoin there's any competition with others coins, Bitcoin is independent on its own and other coins are literally following suit so there's almost no competition and if there is I think it's only amongst the altcoins and never with Bitcoin, although some of the altcoins try so hard to be like Bitcoin , having block chain of their own and community, just like ETH with the ERC block chain, tron with TRC but then they all still remain as altcoins and are not like Bitcoin although they do have solid projects and community behind them but Bitcoin still stands out. Buyers decision most times on cryptocurrency depends on how much knowledge they have and that's why regardless of the many altcoins and their appreciative index some investors still stick to Bitcoin because it still stands tall it only those with little or amateur knowledge about cryptocurrency would continually be indecisive about purchasing Bitcoin and that's why you can see an investor having having other altcoins and still insist on add Bitcoin but strict Bitcoin investors hardly look into altcoins.

If Bitcoin would really be just that only on existence then all of the current cap that we do have now will really be poured solely to Bitcoin but well its no an assured thing because if there's one only existing then i doubt
that interest or adoption would really be that high and since there's no competition then i dont think for the entire cap to really increase it out that much. Also, it is really just that impossible to think to a market
on running solely, there would really be those individuals or companies that they would really be making their own coins for having at least on getting a piece of the pie or simply with marketshare.

We know that there's no such thing about being perfect. Lets say that we are only having Bitcoin but do you really think that people wont really be noticing about its flaws or disadvantages?
Pretty sure that there would really be those brilliant minds would really be making adjustments and making even more better. Progress and advancement is something
that is really that inevitable to happen.