Will Ethereum/Altcoins Be Valuable Or Relevant without Bitcoin? - page 3.

millionaireshs

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Quote from: Bestly on August 03, 2018, 01:41:54 AM

I happen to be in a group that has to be with Bitcoin or cryptocurrencies in general. There was an argument recently, for and against, about the fact that non-existence (if possible) of Bitcoin would render or make Ethereum (and other altcoins) useless.
The stronger argument which is for Bitcoin had it that if it happens that there was no Bitcoin again, other coins/tokens would also stop having values. They might justify this because bearish trend in Bitcoin affects almost all other, and for other related reasons.

In my own knowing, I knew that Bitcoin came on the scene the first, and that the idea of it inspired Ethereum second, which gave platform for many Ethereum-based tokens, and there are also other platform-based tokens also like Wave, Stellar, etc
Could all of these starting from Ethereum still exit or useful if Bitcoin wouldn't be any more?
The answer to me is in affirmative, but can anyone lecture on why not?
Insightful answers please.

[/quote]

I believe that those altcoins will be still valuable even without the existence of bitcoin because first of all they havedifferent strengths or features that make them unique and thus be patronized by users. We should not underestimate their power especially leading cryptos already proved their greatness. Bitcoin will more as a pioneer of cryptocurrencies but not always the basis of the rising alts.

Fatanut

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Quote from: aizen10 on August 06, 2018, 05:15:22 AM

It is simple that who is the first one exist will be the source of everything.

Not really. If the first one has flaws that needs to be fixed and a second thing was able to fix that and was able to market better, the second one will get the throne.

Quote from: aizen10 on August 06, 2018, 05:15:22 AM

And because the bitcoin is the first ever crypto currency created, of course the following crypto currency existance are depending on the first crypto currency, the idea of the first crypto may adopted by the second one or third one, meaning without the first one, these two or three newly exist are nothing.

Altcoins are essentially just copies of bitcoin but serves a different purpose and a different market. You can think of it as a way to have subcategories for people. So we can be grouped in different ways. Each coin has a community supporting it. Each coin has its ecosystem.

Quote from: aizen10 on August 06, 2018, 05:15:22 AM

Of course the price of it are depending on the price of the main crypto currency.

Not necessarily. Let's say that the price of an altcoin is $10 in fiat, if the price of bitcoin moves, you'd see that the price of altcoins in exchange of bitcoin also moves. But if you convert it to fiat, it's still around $10. It's one of the reasons why the price of altcoins goes down in exchange of bitcoin whenever bitcoin's price has increased. All along with the reason that people with altcoins are selling their coins in exchange of bitcoin to (a.) ride the pump (b.) not ride the dip of the altcoin (c.) sell in exchange of fiat.

On the other hand, altcoins aren't really relevant because of bitcoin. It can exist without Bitcoin existing. Bitcoin can go down and an altcoin can be not affected by it. It's the beauty of cryptocurrencies. One currency is not dependent of the other.

darko.bountym

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yes, they will have a bigger value. right now BTC is dictates the prices and everithing

AliMan

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Quote from: tailor.and on August 06, 2018, 02:24:26 AM

All the altcoins, as well as Ethereum, is in a way or another, dependent on BTC as BTC is a dominant coin in the cryptocurrency market. Ethereum is no new, it is also affected by BTC price. But every coin has its sovereignty. Its value may go ups and downs but when it is only $1 worth, it can perform its functions thoroughly.

Actually without the existence of bitcoin those kind of coins can function more and be more valuable. The only thing that hinders them to reach there potential is bitcoin itself. I do believe that without bitcoin they can function and doI what they want. Lastly for sure the current users of bitcoin will use them as bitcoin is not existing.

Snakerist

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Bitcoin is now a symbol of cryptocurrency because it is the first crypto, but it wouldn't last forever as other projects are developing now and can bring more value than Bitcoin.

chidrawarster

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We all agree that btc is the king of crypto world and there will be some impact on other alt coins as well of btc price is effected. So I would completely agree there will be some impact for sure the only thing is pump and dump issue will be there forever. So even btc also acts as a transacting currency hence the major importance as well. Still I see btc only reaching new levels rather than dropping more.

cryptohobbs7

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Ethereum and other alt coins are quite dependent on bitcoin. It means if bitcoin falls these alt coin will have a big effect because of it. But i don't think they will be useless of disappeared.

Cryptotissue

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we all know bitcoin is the king of all the coins , without it i dont think any coin will be much valuable than in the market .so i can say it is bit coin that makes all this coin valuable and it has been like this since it inception

basici

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In general, I think that without bitcoin, no altcoins will be valuable. bitcoin in my understanding is the dollar for the currencies

aizen10

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It is simple that who is the first one exist will be the source of everything. And because the bitcoin is the first ever crypto currency created, of course the following crypto currency existance are depending on the first crypto currency, the idea of the first crypto may adopted by the second one or third one, meaning without the first one, these two or three newly exist are nothing. Although let says project created with products then its created under crypto currencies, of course the price of it are depending on the price of the main crypto currency. It cannot be change with the original crypto which is bitcoin. Thats why altcoins will not exist without bitcoin.

GoldOrBTC

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People use ALTcoins for various purposes but most of the ALTcoin owners usually convert ALTs to BTC which just shows how much trust they have on ALTs. If you don't believe, see the recent scenario when Bitcoin went up to 8,200$ the whole ALT market crashed and now again it's recovering. I don't think it will survive without BTC.

ckelvinkhanh

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The generated electronic currency is valid. But to be worth the exchange, the first element is the community, there must be many people accept it.

tailor.and

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All the altcoins, as well as Ethereum, is in a way or another, dependent on BTC as BTC is a dominant coin in the cryptocurrency market. Ethereum is no new, it is also affected by BTC price. But every coin has its sovereignty. Its value may go ups and downs but when it is only $1 worth, it can perform its functions thoroughly.

eternalgloom

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Quote from: mk4 on August 03, 2018, 02:22:04 AM

Quote from: bob123 on August 03, 2018, 02:09:49 AM

Quote from: Herbert2020 on August 03, 2018, 01:59:51 AM

what is the usage of Ethereum? creating ICOs.

I disagree with this statement.
The whole purpose of ethereum is NOT to creat ICOs.

The real purpose is to be able to create small programs (smart contracts) which can be executed without a central authority.
Just because the majority of people are using them to simply create ICOs where they just build some kind of a payment token and promise a lot of utility, this doesn't describe the usage/purpose of ethereum itself.
Most people are greedy. Thats the reason we have so much shitcoins and tokens now. They all just want to make fast money.
But this does no way mean that the whole ethereum network has been made for this one purpose.

Pretty much. Just because it's currently mostly being used for ICOs it doesn't automatically mean it was made for that sole purpose. It's just like saying bitcoin is being bought solely for speculation and not for transactions(which what it was made for).

ICO's aren't even the most interesting examples of hat can be done with Ethereum. You can build entire decentralized applications on the Ethereum chain.
Now I would argue that there are actually better platforms for that, but it's certainly possible with ETH.

I think that if Bitcoin loses dominance, it would only affect prices for a relatively short time and the market would shift towards another coin.

derekeaton

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At the moment, bitcoin leader is among all the cryptocurrencies and they can be said to be repulsed from him. It would be hard to say if other cryptocurrencies were in demand without bitcoin. I think this is quite possible, but it's still difficult to imagine the world of cryptocurrencies without bitcoin.

Daffadile

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It seems the coins and tokens go up and down in value together. BTC goes up the go up BTC goes down and so do they. It is a trend. I hope one day currencies will be more independent of one another and that can only be accomplished by giving people more ways to spend it on everyday items.

Ether isn't going anywhere, look where it is right now with the smart contract and tokens on the rise that all require eth as gas fee. Eth has a very good reason to exist.

BTC_BTC

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my answer is no, as it is pretty sure the bitcoin trust will not switch to Ethereum if for example the bitcoin does not exist.
as well as other altcoins, all depend on BTC.

St4yInTh3D4rk

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Quote from: Ahmed4200 on August 03, 2018, 06:54:57 AM

I'm sorry I could not agree with you. Because Bitcoin is a coin whose radiant power covers the entire market. With its ups and downs, the whole market shone with it. Because when the price increases, the price of the whole market including the ETH increases and the price of other coins decreases and decreases. Yes Ethereum usage has increased but Ethereum / Altcoins can not be worth more than Bitcoin.

Actually all the investors just look at the bitcoin price as a sign of investment time so they will invest and sell their holding when ups and downs happens respectively.But there is no reason that it has to be like that forever maybe in future the prices maybe valued based on the utility of the coins so if some coin created which can excel the usage of bitcoin then it can have high value than bitcoin.But in my opinion it will never happen bitcoin will be the best always.

bitfocus

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I just can say, their price depends on BTC price on a huge basis.

dutchkay

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Whether we like it or not cryptocurrency is a market that it's fate is highly dependent on Bitcoin. Though some might argue it. Bitcoin is what have been controlling every altcoins in the market and still very good at doing that. Let's look at the current face of the market today. Why we are in this mess now is because of bitcoin, reaching a 20k mark and dropping sharp to 5k there by slaughtering all altcoins and leaving some lifeless. If this continues some alts will definitely seize to exist. Bitcoin dictates all and there is no cryptocurrency without bitcoin.

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