WIll bitcoin be the point of reference for other cryptocurrencies for ever? - page 2.

Akiko

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Quote from: Vickyrichy on July 12, 2018, 10:02:55 PM

Quote from: MartinAK on June 27, 2018, 08:05:14 PM

As we see the USD ($) as a point of reference and determiner of value for most national currencies on the international market, will bitcoin as the mother of cryptocurrency be the determiner and reference point for the value of other crypocurrencies with time. I have witness that all newly coins aspire to get to where bitcoin has gotten to and even beyond and it baffles my mind that for sure will there be a potential coin to by pass bitcoin and serve as a reference point.

Yes, bitcoin will always be the point of reference for other cryptocurrencies. Bitcoin was the first cryptocurrency which is based on blockchain technology. All the cryptocurrencies which was created after bitcoin copied the basic concert of bitcoin and blockchain technology. Most of these cryptocurrencies adopted blockchain technology and added some few features.

Bitcoin are already the point of reference for other crypto currencies, yes it is the first crypto currency and other crypto are copied to bitcoin. Honestly it is hard to say if it's forever, but I guess it will be the point forever.

Vickyrichy

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Quote from: MartinAK on June 27, 2018, 08:05:14 PM

As we see the USD ($) as a point of reference and determiner of value for most national currencies on the international market, will bitcoin as the mother of cryptocurrency be the determiner and reference point for the value of other crypocurrencies with time. I have witness that all newly coins aspire to get to where bitcoin has gotten to and even beyond and it baffles my mind that for sure will there be a potential coin to by pass bitcoin and serve as a reference point.

Yes, bitcoin will always be the point of reference for other cryptocurrencies. Bitcoin was the first cryptocurrency which is based on blockchain technology. All the cryptocurrencies which was created after bitcoin copied the basic concert of bitcoin and blockchain technology. Most of these cryptocurrencies adopted blockchain technology and added some few features.

heinz

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I think that it will always be like that and there is no way to change that, because most of the cryptos actually that are on the market are following bitcoin prices pattern, so it would be more than weird to take off that point of reference, and the fud will be big.

jennyshefard

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I agree with this. We all know bitcoin is the no1 crypto currency in the world for this reason other coins are follows their strategy. Bitcoin is far away from other coins. No other coins have any potential to compete with bitcoin.

fulled

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I think yes, bitcoin is the oldest and have good reputation around the world, i think will be difficult to other cryptocurrency to change bitcoin status as a reference for other coins

Direwolve735

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I don`t think that bitcoin will be a benchmark for other crypto currency forever. But it will definitely fulfill this role in the coming years. Other crypto-currencies are not yet independent enough to completely withdraw from bitcoin. Investors continue to focus on bitcoin when choosing altcoins for investment. Therefore, for a while bitoin will determine the overall trend in the market.

AntonDalrymple

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With more than 1500 coins in the market right now, bitcoin is the oldest and the first coin which entered into the market. And it is still the top in the market and is still being preferred by the people to invest in it. So, bitcoin is an important coin in the market.

Thefrolly

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Bitcoin cant stay as the base currency of the cryptocurrencies forever as nothing stays at the top forever. Also with coins like Ethereum gaining more market share more coins are getting paired with it too. Not to mention most of the bigger coins already having USDT(Tether) pairings on most of the exchanges.

Dmitry.Vastov

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Quote from: MartinAK on June 27, 2018, 08:05:14 PM

As we see the USD ($) as a point of reference and determiner of value for most national currencies on the international market, will bitcoin as the mother of cryptocurrency be the determiner and reference point for the value of other crypocurrencies with time. I have witness that all newly coins aspire to get to where bitcoin has gotten to and even beyond and it baffles my mind that for sure will there be a potential coin to by pass bitcoin and serve as a reference point.

I think yes, this could happen in the future that bitcoin will become the point of reference for other crypto currencies like usd is the point of reference for other national currencies in the international market, bitcoin is always be the the leader of all the crypto currencies and moreover if we look at the valuation, the statistics, the growth graph of all the crypto currencies then we will find that bitcoin is the topper of all so yes bitcoin will be the point of reference for all other crypto currencies.

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Quote from: MartinAK on June 27, 2018, 08:05:14 PM

it baffles my mind that for sure will there be a potential coin to by pass bitcoin and serve as a reference point.

The problem of many altcoins is that they are very centralized, so you have bitcoin that was created by someone anonymous, and decentralized and on the other hand you have very centralized altcoins and with their creators becoming very rich thanks to the community that follows the altcoin, What are the odds of altcoins to be best of bitcoin and becoming a reference point? The answer is 0% chance. I think you should already have an answer to that question.

bitbunnny

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As long as is the strongest and the most valuable cryptocurrency it will remain the point of reference.
And at the moment I don't see any other cryptocurrency that could take that position so for a long time the value of all other altcoins will be compared with Bitcoin.
No matter to some issues that has Bitcoin is still setting the standards for other cryptocurrencies and no matter how how some wish that Bitcoin will be removed from the throne this will not happen.

AnonBitCoiner

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Yes.Bitcoin is considered as mother of cryptocurrency.Rest of them are called altcoins. At first the price of bitcoin is started from 1$.Due to increased in supporters,the value of bitcoin crossed many new peaks.The value of dollars is remains the same now.But current value of 1 bitcoin is 6600$.So,bitcoin will be the point of reference for other cryptocurrencies for ever.

LodisMcguire

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In my opinion,of course it will be.Bitcoin is the first cryptocurrency that use blockchain to make revolutionary in payment system without third party interference.So as the mother of cryptucurrency,bitcoin will always be the point of reference to other crypto.

leonair

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Maybe and maybe not, no one can tell actually.

Without a doubt Bitcoin is the based of all the cryptocurrencies out there because it's the father of all cryptocurrency and with that it's respected no matter what. But the fact that there are a lot of inspired programmers and innovators that would really make a huge difference and kinds of cryptocurrency that may be the most suitable and efficient to use by the people then I think that's the time that this new specific coin will take over to Bitcoin. Microsoft OS is not the first OS though but it's the most used OS as of now.

quocsi

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I think it is still the reference point for many other virtual currencies in the future. No virtual currency can cross over it and become a reference point as you think. Bitcoin is king and it will rule the remaining virtual coins.

TommyJr

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Yes, it will be the point of reference. As long as Bitcoin ranks first among all other cryptocurrency, it will be the measure of reference for other coins. Let's see what happens!

Gaaara

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Probably, cryptocurrencies has made bitcoin the top and consider it the highest and for that reason altcoins still relied on bitcoin regarding the general cryptocurrencies. Eth has been the top 2 and been proving something but its still not even near the worldwide known bitcoin there is no specific identification in cryptocurrencies so it is better that way since it will gain more attention if they focus in only one.

sammyp

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It is and it will still be for at least some decades to come. It is possible that a different coin might rub shoulders with bitcoin over time but even with that, that particular coin will still make its reference based on bitcoin.

Mcdacillo

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Quote from: MartinAK on June 27, 2018, 08:05:14 PM

As we see the USD ($) as a point of reference and determiner of value for most national currencies on the international market, will bitcoin as the mother of cryptocurrency be the determiner and reference point for the value of other crypocurrencies with time. I have witness that all newly coins aspire to get to where bitcoin has gotten to and even beyond and it baffles my mind that for sure will there be a potential coin to by pass bitcoin and serve as a reference point.

In my own perspective, its a yes. Bitcoin will become the point of reference for other cryptocurrency because as what you have said. Bitcoin is the mother of cryptocurrency therefore it is the first cryptocurrency that have been run and make transactions between the fiat and the digital currency. So its sure that bitcoin will be a good reference for the value of other cryptocurrency and as of now bitcoin has the highest value among the other cryptocurrency.

alex M

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Quote from: Huntler1993 on July 01, 2018, 04:54:53 AM

Yes.. the futurist goal of many other cryptocurrencies on the market is to overtake bitcoin one day which is a positive target. Being the mother coin and the kind of pace or standard it has set, most other coin will always look up to them even when it is no more.

Yes. I agree. Bitcoin value serves as the standard or baseline of all crypto because it has the biggest price in the cryptomarket. And if bitcoin value decreases, almost all crypto are affected to the downtrend. Mostly new coins turn into nearly zero value.

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