Topic: Will Bitcoin's Lightning Network destroys alt coins(currencies)? (Read 393 times)
Bitcoin itself cannot destroy the altcoins let alone of it's lightning. That is why you see them developing bitcoin fork from time to time. There are series of token that a technologically better than bitcoin. All the need is just for the people to understand their benefits over bitcoin.
August 21, 2018, 02:27:36 AM
It's like asking whether a sonic speed plane will make car and motorcycle dissapear, the answer is a big no. lightning network as I know only reduce the amount of fee needed and also speed up the confirmation with an instant.
also different coin for different purpose, bitcoin mainly used as payment and store value but the othercoin is being used for different purpose like there's coin for paying cloud storage and many more.
also different coin for different purpose, bitcoin mainly used as payment and store value but the othercoin is being used for different purpose like there's coin for paying cloud storage and many more.
August 21, 2018, 02:02:32 AM
Quality post is always good. And if the amount of post is less then quantity but effictivness is more to quality post. But sometimes quantity plays a vital role.
August 19, 2018, 04:06:09 PM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
I do not think so.
It seems to me that the cost of a transaction is not the main one when choosing a cryptocurrency.
Bitcoin Gold has free transfers, but this didnt destroy all the altcoins and bitcoin.
I'm sure that in the future there will be more and more new altcoins.
August 19, 2018, 03:50:35 PM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
Lightning cannot solve the problem, but is rather a way of postponing it. The problem with transactions is generally a problem of blockchain. Finding blocks becomes more difficult and time-consuming, and the more transactions occur (and that's a natural process of coin's adoption), the more expensive and long it takes to perform one. What can really be a game changer IMO is the DAG technology. It actually works in an opposite way with transactions getting verified faster and cheaper (when the price is even there) when more people are in the system. Why? Because all of the users give some of their computing power for this process, thus making it work and in a way paying for transactions.BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
Anyway, cheap transactions will not circle out even other blockchain cryptos, because it's not just about speed and price. Many projects are far more than a decentralized platform and they will leave as a way of monetizing some business. Moreover, bitcoin is simply not good enough for some things people already got used to. It's impossible to create smart contracts, lauch ICOs or create tokens.
August 19, 2018, 01:32:52 PM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
I don't think so, there are so much coins out there with much more advantage, technology even better than lighting network and still...being dumped so hardly.BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
but anyway, I still hope that release some news would make market comes alive.
August 19, 2018, 01:04:53 PM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
In short, no.
The good alts - by which I mean those with a solid real-world use-case, a good team and a clear vision - offer plenty of their own, which bitcoin, with or without LN, does not.
Even just taking those at the top in marketcap, ETH and XRP have nothing to fear. They don't really compete with BTC at all, in whatever guise.
August 19, 2018, 01:01:10 PM
No, Bitcoin lighting network will not destroy the altcoins around. All the coins are developed for different purposes, fast transaction speed is just one feature of the coins.
August 19, 2018, 12:57:23 PM
Of course not, altcoins will still be needed because of the features that Bitcoin doesn't have( like smart contracts or anonimity or proof of stake, etc).
August 19, 2018, 12:37:52 PM
We should always be careful in such stable markets like crypto market. The next step should be taken based on the condition of the market, not only to keep or sell it.
August 19, 2018, 09:21:15 AM
If it does work, then the altcoins will be the one to face the consequences, not the bitcoins. So it is a no.
August 19, 2018, 07:16:16 AM
No, of course not. The lightning network is going to be introduced in Bitcoin to solve the scalability issues. It is just going to make bitcoin better. It has no relation with altcoins.
August 19, 2018, 05:16:00 AM
It depends on what the coin is offering. The ones that are just clones offering a method of payment will simply evaporate. Bitcoincash, litecoin, there is no use for these coins after the lightning network is full implemented. Ethereum, NEO, and other useful alts will prosper while the others will simply fall.
August 19, 2018, 05:05:50 AM
with the presence of lightning networks in bitcoin, this will solve the problem that is often said by competitors. bitcoin will be superior to other crypto, but this will not affect its competitors, it's just that the value of BTC will continue to grow and the public's confidence to hold a BTC will be high.
August 19, 2018, 05:02:13 AM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
Linghtning is created to help solve some of the existing problems of BTC. Lightning can be used to achieve fast transfer of BTC, small amount transfer, and ultra-low-cost handling fee. This is a very great thing. As for whether Altcoin will be shocked by this, I think this is an obvious problem. Altcoin, which is false and has no practical use, will certainly be affected, but not all Altcoin will face the same problem. BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
August 19, 2018, 04:57:35 AM
It will not happen. It’s a unique feature of bitcoin but it’s true it will impact on other payment system.
August 19, 2018, 04:34:17 AM
This one of the feature and if that's really affect any altcoin then I want to say that's one is not a sustainable altcoin at all.
August 19, 2018, 03:06:17 AM
The Bitcoin's lightning network will help the bitcoin to dominate the cryptocurrency market with new features. But bitcoin Will not be able to destroy all of the altcoins. let us see upcoming year.
August 19, 2018, 03:00:02 AM
I don't think that Bitcoin's Lightning Network will destroy other altcoin, I believe other altcoins will offer new features, innovation and maintain evolution
August 19, 2018, 02:54:29 AM
This is a feature produce by bitcoin and hope it will not felt any bad effect on any reliable altcoins.
August 19, 2018, 12:48:00 AM
Many altcoins will be die. But if they die because of implement this feature then I think they were useless.
August 18, 2018, 02:38:02 PM
I think not. Bitcoin works to development its every sector. It will not destroy altcoin. So I think its not hamper altcoin. This two are not co related.
August 18, 2018, 01:29:14 PM
Well. If the ALTcoins are really the best one then it is not possible for BTC lightning Network to destroy them. But if the network is able to diminish the altcoins then those altcoins were nothing but some useless coins! But in most cases BTC network will have no affect on the ALTcoins.
August 18, 2018, 01:03:55 PM
Not, Bitcoin and Altcoin have their own world even though they are in the same room. But their concentration varies. Bitcoin doesn't care about what altcoins do, neither altcoin against Bitcoin. Each only thinks about their own development, they already have their respective portions and this will continue without dropping each other.
LP will make a transaction on Bitcoin faster, But there is one or another altcoin can faster without having to implement LP
LP will make a transaction on Bitcoin faster, But there is one or another altcoin can faster without having to implement LP
August 18, 2018, 12:53:35 PM
No I don't think it will have much impact on the alt market. A lot of the alts are doing different things to Bitcoin so there is a lot of room for growth for everyone. I think we can have a huge space with 1000's of coins working together with no issues.
August 18, 2018, 12:43:15 PM
BTC network is not here to create an affect on the ALTcoins. But if the network destroys any ALTcoins then those coins were really very useless. The best and the aunthentic ALTcoins will never be destroyed by the Bitcoin Lightning Network.
August 17, 2018, 12:28:21 PM
I dont think it will destory alt coins at all. Other alt coins offer different solutions with in the crypto currency space. There is so much variety that one coin cant solve it all.
August 17, 2018, 12:26:30 PM
Some people will always look out for an opportunity for profit. For that reason it is irrational to think all of them will disappear even if Bitcoin is made 100% perfect. Improving it it's something we should pursue but it won't make alt coins disappear at all.
They will disappear if people stop finding a profit and an use for it and that is the ultimate truth. As long as people can profit out of it they will buy anything.
They will disappear if people stop finding a profit and an use for it and that is the ultimate truth. As long as people can profit out of it they will buy anything.
August 17, 2018, 11:57:59 AM
Bitcoin Lightning Network cannot destroy the best ALTcoins! But if the network disappear some of the ALTcoins then they would be really very useless coins! Though, BTC network hopefully won’t have any affect on the ALTcoin.
August 17, 2018, 10:36:55 AM
If this is implemented, then Bitcoin will step forward, but I do not think it will destroy competitors, because we need altcoins oddly enough. There is a demand for altcoins, which generates competition.
August 17, 2018, 07:08:05 AM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
In my opinion no because there are so many altcoin which are based on their products usecases and if someone makes product they have marketing plans too. Infact they will also implement LN in their platform. So altcoin will not gonna disappear and will remain in the market with giving competition to the BTC.
August 17, 2018, 06:56:01 AM
yes
those that are pushing themselves as 2.0 and 3.0 will be crushed
they are generally sacrificing decentralisation and trustlessness to push higher tps with lower fees
those will be crushed by a highly successful LN
ALTs with specific use cases will still have good reason to exist
those that are pushing themselves as 2.0 and 3.0 will be crushed
they are generally sacrificing decentralisation and trustlessness to push higher tps with lower fees
those will be crushed by a highly successful LN
ALTs with specific use cases will still have good reason to exist
August 17, 2018, 06:47:09 AM
I don’t think BTC can make all the altcoin disappear by developing its Lightning network. True it will become more popular. But there are many altcoin that offer good scalability and other services as good as BTC.
August 17, 2018, 06:33:22 AM
I think if the network is implemented, BTC will not be destroyed because the BTC network itself is very strong so people still like it.
August 17, 2018, 06:08:22 AM
When we suggest die , we merely mean capitulate into unimportance like the scam Paycoin that was supposed to destroy Bitcoin.
There will always be dumb money and credulous investors buying into these scams but these multicoiners will always be jumping on the newest speculative fad as well ignoring one of the most important reasons why Bitcoin was created.
A multicoiner undermines digital scarcity and your principle investment because one of the principle raison d'être of Bitcoin is to create digital scarcity and disinlfation instead of hyperinflation.
Altcoins will come and go and dumb money will keep jumping from one project to another
There will always be dumb money and credulous investors buying into these scams but these multicoiners will always be jumping on the newest speculative fad as well ignoring one of the most important reasons why Bitcoin was created.
A multicoiner undermines digital scarcity and your principle investment because one of the principle raison d'être of Bitcoin is to create digital scarcity and disinlfation instead of hyperinflation.
Altcoins will come and go and dumb money will keep jumping from one project to another
August 17, 2018, 05:58:25 AM
Some altcoins will still survive if it is implemented. There are still some very good ones that have the ability to withstand the competing power that might be presented before them.
Because it does not rule out the possibility of people prefer to invest in products that have high prices even though the features are different. August 17, 2018, 05:41:03 AM
It wouldn’t mean the end of other altcoins but it might negatively affect the altcoins that follows the blockchain system of bitcoin. More precisely, we might see some of the forks of bitcoin go useless, for example bitcoin cash. Besides, we’ll eventually see many altcoins die due to poor performances and most of the altcoins are actually shit.
August 16, 2018, 07:24:46 PM
Some altcoins will still survive if it is implemented. There are still some very good ones that have the ability to withstand the competing power that might be presented before them.
August 16, 2018, 04:13:08 PM
Bitcoin does not have smart contracts and this is one of the biggest shortcomings.
altcoins will evolve regardless of other crypto-currencies. These are tokens that function in separate projects
altcoins will evolve regardless of other crypto-currencies. These are tokens that function in separate projects
August 16, 2018, 03:58:48 PM
No, both are different from each other. There is no questtion about one cryptocurrency destroying another. Alt coin is the best option for small investor and the number of bitcoin is limited. So, there is nothing to worry about altcoins.
.I also agree with you because it is not possible to destroy each other, but who is the only one who is better with the potential that has the coin to make it easier for investors to run their projects, even bitcoin itself will certainly not be replaced because the bitcoin is the parent, maybe more precisely bitcoin only improves lack in scability and high transfer times.
August 16, 2018, 03:53:46 PM
I think it will boost bitcoin both as an asset and mode of payment when lightening network is implemented, regarding the value of others i think we should not worry about them all the market will benefit from the success of bitcoin so lets hope for the best.
August 16, 2018, 03:50:42 PM
most likely they will continue to exist but will lose popularity, because of the greater investor confidence in bitcoin.
August 16, 2018, 03:48:38 PM
It is a possibility.
What use are fast Altcoins when the largest Cryptocurrency provides faster and possibly a better decentralized solution without breaking down or something.
Their chances of surviving depend on their ability to adopt very important and viable features that Bitcoin doesn't have yet
What use are fast Altcoins when the largest Cryptocurrency provides faster and possibly a better decentralized solution without breaking down or something.
Their chances of surviving depend on their ability to adopt very important and viable features that Bitcoin doesn't have yet
August 16, 2018, 10:24:03 AM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
I do not think that the lightning network will change anything about the existence of altcoins. They will continue to exist and they will continue to try to solve the scalability problem in other ways. As long as there will be Bitcoin, there will be altcoins too.
August 16, 2018, 10:15:32 AM
No, both are different from each other. There is no questtion about one cryptocurrency destroying another. Alt coin is the best option for small investor and the number of bitcoin is limited. So, there is nothing to worry about altcoins.
August 16, 2018, 09:18:58 AM
Bitcoin lightning network will definitely boost the scalability of bitcoin as its transaction verification time will surely be shorten. But, not to the point of destroying other coins. Bitcoin and other coins are built with different functions in cryptocurrency. Also to take note that other crypto-technologies are working on the improvements.
August 16, 2018, 09:03:22 AM
This lightning network will help BTC to keep the place of dominating over the altcoins. But I think people will still be using altcoin because of the services they offer and of their low price compared to BTC.
August 16, 2018, 12:55:23 AM
If lightning network is implemented in Bitcoin will it destroys these competitors?
Not at all dude, maybe other cryptocurrency will implement too that lightning network technology. August 16, 2018, 12:46:35 AM
Not really. Definitely not all altcoins will be affected by it, maybe the ones that are not doing that well in the market.
August 13, 2018, 08:42:33 AM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
Of course, no. BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
August 13, 2018, 08:38:26 AM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
maybe not only altcoin will die if lightning network fullly implemented bitcoin network.even visa or other convesional payment systme become useless. BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
August 13, 2018, 08:35:43 AM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
If just one new feature of Bitcoin, like Lightning network, would make certain altcoins disappear, then those altcoins were nothing but useless clones of Bitcoin. However, some of those "devs", unless they bought pre-fabricated clones, may also add LN capabilities.
But in most cases LN deployment in Bitcoin network will have no effect on the altcoins. Just think: would Bitcoin LN make Monero less anonymous, or would make smart contracts in Ethereum, Waves, and so on networks work less good? Or would make HDD mining / storage less effective? No.
So, shortly, the real altcoins don't care what happens on Bitcoin network; the only one that could be affected would be the worse clone shitcoins.
August 13, 2018, 08:25:06 AM
There are lot of crypto currencies that were created to compete with BTC
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
If lightning network is implemented in Bitcoin will it destroys these competitors?
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