It really depends on the project. ALGO dipped a lot (more the 50%) during that bear run, but it is also a newish project and still has a lot to grow. I think investors where pulling money out of smaller cap coins and putting money into ETH/BTC during the dip.
DIVI is a very interesting project imo and deserves to be looked at. DIVI can be used for a ton of stuff like staking or running nodes which takes only 1 click to setup. This is made possible by MOCCI, their 1 click node installer. All of this is made possible by their DIVI Wallet 2.0 which can all of this can be done on. Their wallet also supports both crypto and fiat. Divi is even listed on KuCoin and can also be used in some online stores.
Topic: Why are other cryptocurrencies not like Bitcoin? - page 3. (Read 680 times)
Is there any other coin created at the same time as bitcoin that still survives in the crypto market today, although silly question but you know the answer from this thread, bitcoin is king in crypto with fully decentralized not in many other altcoins, though not as good as bitcoin but eth and bnb is also a top potential coin.
Bitcoin makes a lot of new things in cryptocurrency so your question is why other cryptocurrencies are not like bitcoin, this is no longer a new thing because what people generally know about crypto is bitcoin while other altcoins usually survive by utilizing and seeking profit from the crypto space itself. to this day bitcoin continues to grow and none of the altcoins can compete with bitcoin
bitcoin bring a breakthrough in our life since we realized new payment system which is no one could controll it. due of this technology people being known what the cryptocurrency is. and while blockchain technology improved we see tokenized in several part of our life, but truely it also bring new opportunity for us. altcoin could not compete bitcoin maybe it is ,but altcoin developt something new in our life and make no crypto part could be fun and tokenized. *Snip*
Because nothing lasts forever, maybe to date we have seen other altcoins not survive because the project was left project team and the product is not yet fully ready to go.
Different from Bitcoin, Bitcoin was created for a transaction system and its main purpose as a payment that can be used throughout the country but not all country accept Bitcoin payment. New altcoins are created to make up for every shortcoming that Bitcoin doesn't have and we will see some new altcoins all the time, they will survive if they have a good cause like ETH, BNB and other top altcoins.
Over the years Bitcoin have been doing very great and as a matter of fact it is the fastest cryptocurrency that is much valuable and growing with rapid speed. Unlike other cryptocurrencies, some come doing better at the earlier stage but as time goes on they loss value and at the end of the day it gets crash .
my question is that why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.
I'll be glad to get responds to add to my knowledge concerning this . Thank you
my question is that why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.
I'll be glad to get responds to add to my knowledge concerning this . Thank you
It is not true that bitcoin is the fastest cryptocurrency at least if you talk about transaction speed here. Bitcoin transaction can take a very long time as the blocktime of bitcoin is around 9 minutes and if you have to wait a few blocks for your transaction to get mined and confirmed than it is easily possible that a transaction takes hours or even days. So from a pure technological standpoint there are a lot of crypto projects out there that are offering way more functionality than bitcoin. The reason why bitcoin is still the number one cryptocurrency in terms of marketcap is simply because it is by far the most well known crypto project out there. People that are not into crypto themself often even think that crypto=bitcoin.
Bitcoin makes a lot of new things in cryptocurrency so your question is why other cryptocurrencies are not like bitcoin, this is no longer a new thing because what people generally know about crypto is bitcoin while other altcoins usually survive by utilizing and seeking profit from the crypto space itself. to this day bitcoin continues to grow and none of the altcoins can compete with bitcoin
Most have been answered here already and I think what I can share here would be the community that is behind Bitcoin. It is a very big community and all of them are full supporters of Bitcoin. Sure we can argue that Ethereum, Binance, and others have solid communities also, but these are not as active, not as extensive, and not as assertive as the community of Bitcoin "loyalists" that are aggressive in proclaiming Bitcoin all over the internet and in social media.
Bitcoin is the first truly decentralized currency based on blockchain technology. It has been developed for more than ten years and has its own unique technology and innovation.Its successful development has been known to many people, and more people have increased their awareness of choosing to invest in Bitcoin, and it has also brought benefits to many people.
But many altcoins are created by imitating Bitcoin. Most of them are to benefit from it without more innovation. Their value will never exceed or even equal Bitcoin.
But many altcoins are created by imitating Bitcoin. Most of them are to benefit from it without more innovation. Their value will never exceed or even equal Bitcoin.
Theres can be many reason like we know bitcoin is non authorised. Not Only that non company has power to take bitcoin and gone with all that money. Lots of altcoin coin comes to take bitcoin. Example a company comes launch a coin now they sell coin Against btc when you buy Through btc they got btc you got those coin now there is no gurantee that coin will survive. Because it has and if company gone they all are in loss. Because lots of biggest company, exchange has done the same thing. Thats why the experts know if a project comes then it will gives profit in beginning so they invest huge then when the price up they are in profit they sold the coin and buy again btc. Then the traders who are not that much experts they are again buy when it is in deep. Now it depends on project how much strong is it and its team? If the team powerful they they stand strong in the market and able to get back those expert biggest investors if they are able then the project back on game. But if not then the project crush. Its my opinion others can be different thank you.
We all know that btc is the first and highest coin in cryptocurrency and I think a lot of people know that. At the beginning of the appearance, the price of BTC was not as high as it is now, only after BTC became known that new coins from crypto emerged. Even now, no one has been able to compete with the price of BTC because from the beginning BTC has been the pioneer of crypto itself. the price of btc has also experienced ups and downs in the market and has become a reference for other coins, therefore when btc goes down many other coins also go down. it is a fair thing
It is true that as time went on people knew that bitcoin was the first coin in cryptocurrency,even coins like ethereum, which at that time were predicted to surpass bitcoin, have not yet been able to,
and I think it will be difficult and most likely it will not happen and bitcoin remains the king of cryptocurrency
I know there are tons of projects that does something new, pancakeswap or uniswap is nowhere near bitcoin levels but it allows so much things to happen, there are so many projects on ethereum and bnb, yet none of them are close to bitcoin, why? Because bitcoin is the first one, however I believe there is a chance that we can see a new project going super high and breaking all the price records, doesn't mean that it will happen today but in the future it may happen. Do not think of this as this year or next, think of the future, do you think bitcoin will still be at the top 10 years later? or 20? What do you think will happen in 50 years?
We all know that btc is the first and highest coin in cryptocurrency and I think a lot of people know that. At the beginning of the appearance, the price of BTC was not as high as it is now, only after BTC became known that new coins from crypto emerged. Even now, no one has been able to compete with the price of BTC because from the beginning BTC has been the pioneer of crypto itself. the price of btc has also experienced ups and downs in the market and has become a reference for other coins, therefore when btc goes down many other coins also go down. it is a fair thing
It is true that as time went on people knew that bitcoin was the first coin in cryptocurrency,even coins like ethereum, which at that time were predicted to surpass bitcoin, have not yet been able to,
and I think it will be difficult and most likely it will not happen and bitcoin remains the king of cryptocurrency
We all know that btc is the first and highest coin in cryptocurrency and I think a lot of people know that. At the beginning of the appearance, the price of BTC was not as high as it is now, only after BTC became known that new coins from crypto emerged. Even now, no one has been able to compete with the price of BTC because from the beginning BTC has been the pioneer of crypto itself. the price of btc has also experienced ups and downs in the market and has become a reference for other coins, therefore when btc goes down many other coins also go down. it is a fair thing
In my opinion, other cryptocurrencies are not like Bitcoin because it is simple not a Bitcoin. Cryptocurrencies have different names and platforms so there is no way to copy Bitcoin perfectly. Cryptocurrencies have their own uniqueness in crypto world. As for the prices, it is basically Bitcoin is the base of crypto so other cryptocurrencies will just follow next to Bitcoin.
Bitcoin has its own capabilities and technologies, that is why bitcoin differs from all other cryptocurrencies in this way, people also invest more in bitcoin than in other cryptocurrencies and therefore bitcoin usually grows faster in price than other cryptocurrencies, just as other cryptocurrencies have their own technologies and capabilities, and this good, because we don't need cryptocurrencies that will have the same technologies and capabilities, so we need more cryptocurrencies with original technologies and capabilities.
why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.
I'll be glad to get responds to add to my knowledge concerning this . Thank you
I'll be glad to get responds to add to my knowledge concerning this . Thank you
I guess you must see the bitcoin chart again and where did you see bitcoin non volatile at this moment? The only way to make it stable is a coin backed by a stable asset just like fiat money, gold, or something else.
Those coins based on the development progress and hype. You will never able to see non volatile coin. Bitcoin can be considered a volatile coin as well.
I think that you must see the current price of bitcoin.
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Because it is a shitcoin when it turns out to be "like" Bitcoin, OP.Why would all people sell bananas if there's already one big banana shop in the middle of the city?
There have been a lot of Bitcoin forks, but remember that there's only one Bitcoin in the end.
Plus this is crypto market, OP.
When we're speaking of market, we're talking about different goods/commodities to be sold not just a single one. There could be one thing that dominates the market, but it doesn't mean that all the upcoming goods are to be just carbon copy of the dominant one.
In the recent crash, I noticed when bitcoin dropped 0.25x 1.25x, most of the altcoins dropped 2x before they all increased back while Bitcoin also increased back to $40000. Some coins even at the time dropped almost 3x, and very possible some coins might drop more. Altcoins are more volatile, their rise (increase in price) can be high but they fall more during bear market.
Altcoins can not be like Bitcoin because Altcoins are not fully decentralized, unlike Bitcoin that is completely decentralized.
Altcoins can not be like Bitcoin because Altcoins are not fully decentralized, unlike Bitcoin that is completely decentralized.
I think why that happened because most of the other altcoins right there don't have any capability to be converted directly to fiat. they first to be converted to ETH or BTC and the result is a disaster downfall by that two heavyweight cryptocurrencies which what we are seeing right now. It's not only those who are holding ETH and BTC who are the problem but those who are holding Altcoins are panicking as well.
We know the fact that Bitcoin is the first cryptocurrency and also we see how it grows successfully and known to many people just like Etheruem.While altcoins are still in the stage of upgrading which have also lots of promising and potential coins which is not that easy to convert in fiat because of different process to undergo. It could be one reason, but sooner or later the people behind it will surely find ways to make it easier and be most likely to Bitcoin and ethereum.
my question is that why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.
I'll be glad to get responds to add to my knowledge concerning this . Thank you
Darker45 gave a great answer explaining what Bitcoin is that makes it different and have the trust of old as well as new participants in the market.I'll be glad to get responds to add to my knowledge concerning this . Thank you
Now when you talk about Altcoins and why they can't have stable value. Here are the major differences/ weaknesses they have:
1. All of them tend to have a central promoter or a bunch of early investors who come together and call it a "foundation".
2. The use-case for these Alt-coins are not well defined. After Bitcoin and ETH, governance use-case has found traction. But there value ultimately depends on the TVL of respective platforms which itself tends to vary.
3. Alt-coins communities are not built organically but through shilling and newbies joining in to cash out or "flip" the profit.
4. Alt-coin developers follow fads and don't care about actual innovation. For example, everyone is coming up with farms and pools and NFTs on BSC now and simply copying the ETH products. Look for projects that are actually trying to accomplish something rather than benefit from the latest fad.
Most Alts that manage these issues, tend to grow and retain value longer than others.
well, bitcoin was the first cryptocurrency, and the belief in it is already huge. whereas most altcoins DEX or CEX have the same pattern, that is, they have a team behind them. Well, even if that's not an excuse, I think bitcoin has a lot of trust in the crypto world, so bitcoin always controls the price movements of other coins.
In the recent crash, I noticed when bitcoin dropped 0.25x 1.25x, most of the altcoins dropped 2x before they all increased back while Bitcoin also increased back to $40000. Some coins even at the time dropped almost 3x, and very possible some coins might drop more. Altcoins are more volatile, their rise (increase in price) can be high but they fall more during bear market.
Altcoins can not be like Bitcoin because Altcoins are not fully decentralized, unlike Bitcoin that is completely decentralized.
Altcoins can not be like Bitcoin because Altcoins are not fully decentralized, unlike Bitcoin that is completely decentralized.
I think why that happened because most of the other altcoins right there don't have any capability to be converted directly to fiat. they first to be converted to ETH or BTC and the result is a disaster downfall by that two heavyweight cryptocurrencies which what we are seeing right now. It's not only those who are holding ETH and BTC who are the problem but those who are holding Altcoins are panicking as well.
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