Bitcoin Forum

There were many cryptocurrencies before Bitcoin.

Therefore Bitcoin is an altcoin - and will also be beaten by another altcoin, just as it did itself.

https://bitcoinmagazine.com/articles/quick-history-cryptocurrencies-bbtc-bitcoin-1397682630/

Really??? This is the first time i'm hearing this.I would say that whoever had tried to create crypto coin earlier,but it was satoshi who gave bitcoin life.He has created bitcoin in such a way that till now,banks and governments are struggling to stop bitcoin's progress.I would say that bitcoin is the pioneer in crypto currency world and it would remain as the king for a long period.

Call it whatever you want, shill. it is THE powerhouse and THE major crypto now.

That's not a cryptocurrency! The guy that wrote this article claims that Bitcoin wasn't the first because there were prepaid cards that functioned like money before it. That's really something new, nobody knew there were phone cards that people used to trade when they had no money, nobody heard of debit cards and other prepaid gift cards... :D:D
It's time the author woke up and stopped comparing all those things to a cryptocurrency because they are not the same thing. A token you can exchange for money is nothing like a decentralized payment system with secure, encrypted transactions visible online for every user!

There was no known decentralised cryptocurrency at the time that Bitcoin was created.  The article mentions the previous groups' "offices being raided" - they were centralised systems.

Furthermore, altcoin was not a known term at the time of Bitcoin's creation - it was created specifically to mean a coin other than Bitcoin because Bitcoin was the only major cryptocurrency for a while.  Bitcoin cannot be an altcoin when altcoin is primarily intended to mean an alternative to Bitcoin.

Even if this were the case, there is no guarantee that the past predicts the future.

I don't feel that bitcoin is an altcoin,  but you can call it whatever you want,  but you can't really deny that it's the main cryptocurrency that's being used by a lot of people.  You also can't deny that most people would think of either bitcoin or draw a blank if they were asked to name a cryptocurrency.

The point is: These early technologies didn't bring the advantages people were searching for, the decentralization and the debureaucratization of the financial system. Surely those technologies were very helpful on that time, but since some time ago we had been waiting for something new that could bring more accessibility and then Bitcoin appeared, totally different from "Digital Cash" and "Web Based Money" as we knew. Bitcoin is surely unic and original, not an AltCoin.

I never heard this before . Maybe there were some projects  but does they still exists? Bitcoin is the only cryptocurrency which have gain so much popularity and all of the people related to the crypto market know bitcoin as the first ever cryptocoin. So bitcoin is bitcoin all others are altcoins.

Rubbish, bitcoin is the coin and all coins after bitcoin are alts, even if there was something similar before bitcoin it didn't work and we would still see bitcoin as the first.

He's just a troll and a shill just like I've said. I've invited him to reply to my topic here https://bitcointalk.org/index.php?topic=2437495.msg24968165#msg24968165 (https://bitcointalk.org/index.php?topic=2437495.msg24968165#msg24968165), which he has ignored and hasn't addressed any of my other questions.

He just cherry picks whenever anyone challenges him and throws in a few replies about people basically being stupid and gullible. He's an empty can and definitely rattling the most!

Fortunately, people see through the facade.

The author said "The first known (to me) attempt at cryptocurrencies occurred in the Netherlands, in the late 1980s" in the first paragraph. Emphasis on the word a'ttempt', this means that before bitcoin there had been attempts to make digital cash. When we look back at history there have been attempts do to a lot of inventions, which all failed. Since bitcoin has become successful with mass adoption, it deserves the credit of been a pioneer.

Also lets not forget that cryptocurrency comes with amazing technology not just putting money on phone cards that people used to trade when they had no money, nobody heard of debit cards and other prepaid gift cards.

So, there are Bitcoin is digital currency, called Althingi (alternative money).
Most of those "other coins" doesn't provide users with any new features, so they can in good conscience be attributed to scamu, and if simple, then it is pure trickery. Fortunately, among altcoins are still present interesting projects that deserve attention.
As for Bitcoin, he has long earned its reputation and continues to sustain it, without losing its main advantages – high degree of safety and network benefits. It has a wider scope, it is much liquid, it is more invested both material and intellectual resources.
Work on this system continues, but, as experts believe, not because the cue terrible competition of alternative projects, and the desire to bring his product to perfection, giving the best in him.

Well thats something quite new what I have just heard. First of all bitcoin is altcoin because this forum focuses mainly on bitcoin so any other coin would an altcoin. Its not because btc was first of its kind. But yes it was interesting to learn about other cryptos that were once in existence.

Very well said and this was i supposed to say too which there are really some attempts in the past about digital cash but all of them failed and also come to think off that those plans of digital cash are centralized not decentralized.This is why bitcoin is somehow specially compared into those coins if they are successfully created. For now we cant really remove the title that bitcoin is the father of all cryptocurrency and all coins who are after it would really be always considered as altcoins.

I guess I would argue that Bitcoin is actually a new technology in many ways and that altcoins are trying to copy that success. So i’m comfortable calling Bitcoin the first of it’s kind that was successful. However, it really is just semantics at this point. I don’t think it really matters what people call it in the same way that people try to call Bitcoin a currency when it really is much more than that.

You said there is cryptocurrency before bitcoin developed and descoverd but there is originality in bitcoin that's give power to stand in their own feet so we cannot say bitcoin is an altcoin, because altcoin is depending on the mother cryptocurrency like many cryptoccurency now, you cannot use it without bitcoin because you must to converted it in to bitcoin first before you able to use it as money.

Well, if you google the meaning of "altcoin" all they say is altcoin is "alternative to bitcoin". With that logic, you cannot consider bitcoin as an altcoin.  Thanks

Intresting info )

Breaking news  ;D

While it is actually true that Satoshi took inspiration from many other previous inventions and technology (like every other inventor) it's undoubtely true that Bitcoin has been the first actual decentralized cryptocoin. Also, while all the other technology were just payment system that took place online, Bitcoin is a currency too. While all the other people mentioned in your article created just digital payment system, Satoshi created a whole new economic model. That's a HUGE difference between Bitcoin and the others.

   Creator of this thread did not read article that he shared here. He saw
a headline and he thought that must be true. He is just bad example of
ordinary mind who trust in everything that he sees for the first time.
    Article from 3 years ago, Apr 16, 2014 5:10 PM EST, did not offer nothing
new. Difference between cash and bitcoin is the same as difference between
cash on credit card and bitcoin. Traditional money is one, bitcoin is other.
   Bitcoin is the first product of the blockchain technology.

Bitcoin is the one who brought the blockchain technology as we know it today to life. Just because another virtual currency existed before it doesn't mean bitcoin is an altcoin, this is a borderline stupid train of thought.

That's why we have two types of cryptocurrencies: Bitcoin and Altcoins. It's like saying 1 leader and the rest. Also this is healthy for this evolving crypto market.

I would not say bitcoin is an altcoin, bitcoin is the king
of all crypto currencies I would prefer to called it a coin or virtual currency.

Does it matter what it's called? Either way, altcoins originate from the word "alternate", and they're only considered such because they are alternative options over Bitcoin. In other words, Bitcoin is the standard. It really doesn't matter if it's the first, or if it's the last -- it's considered the main one, so it's incorrect to call it an altcoin, at least in the present.

Not to mention the other stuff mentioned in the article aren't even cryptocurrencies. They're just forms of digital payment. I'm not sure where this hate is coming from, but at least try to come up with logical explanations.

Yes that's what you say, I do not feel that bitcoin is altcoin either, but they can call it whatever they want. Until when bitcoin remains at peak while altcoin is still below the bitcoin.

I can't say I agree with this. I pretty sure anyone referring to an altcoin would be referring to an alternative to BTC. Most people would have no clue what came before BTC because it is the standard in crypto. Will it be beaten and outperformed? Most likely. But for now, it is without a doubt the reigning champion of the cryptocurrency world. What else would anyone even consider for the main coin besides BTC?

lol what a funny article what the author referring to is a digital cash that first used before but bitcoin is different digital currency which is using a blockchain technology which is first introduced in bitcoin. 

There were many who tried to introduce cryptocurrencies before but none of them were backed by the blockchain technology which Satoshi Nakamoto created and which is the very reason why Bitcoin became the first and the original on this platform. No matter how many would dispute this history, the Bitcoin version is the most accepted version therefore all the rest before and after are the ones to be called as altcoins. Look, those coins before Bitcoin never saw the light of the day and so we should just consider them as predecessors that attempted to introduced cryptos but failed. I only recognized Bitcoin and so the rest of the cryptocurrency community.

I find this article very hard to believe, I just get the feeling that they want to eliminate the fact that satoshi was the  first inventor of cryptocurrencies. The article itself isn't that clear and I just feel like the above mentioned participants want to take all the credits from satoshi. Why does this only arise now, all along those people were quite, they just felt like coming up with lies and allegations in the hope that the cryptocurrency community will easily fall for their story. I don't believe this, it doesn't even make sense.

It is informative. This is my first time to hear it, but I do not know if it's true. Only one that I can say, bitcoin only has the highest value in all digital currency. So there's nothing like Bitcoin.

altcoin ,zetcoin , mepcoin  it’s price more than 8,000$ and we earn good so that call it what you want

I dont understand how this articles are being diged. This is as old as 2014, bascially everything has changed since then.
It would be fun tho for the guy who wrote the article, to read it again today or later next year. I bet that would be fun.

From all their failures came bitcoin. Thanks to them, nakamoto had figured out the solution. Yes bitcoin might be an alt coin too. But not today, nor in the future. As long as bitcoin is in the top of the chain others are just alt coins.

It is just a label and alt coin is the label that being given by people, because the first crypto is Bitcoin then other has been consider as the alt coin, but no matter what does Bitcoin called, Bitcoin still the pioneer and will always be called Bitcoin not an alt coin

If it is not bitcoin. its an altcoin simple as that and this article is quite confusing because from my research the internet itself was born in the 1980s and around these times innovations where highly embraced, and if cryptocurrencies did really exist why didnt we hear about it? Am sure a noble prize would have gone their way but unfortunately they didn't register their presence and Satoshi beat them to it.

if it makes you sleep at night then call bitcoin as an "altcoin" but that will be only you calling bitcoin something that it is not. checking your post history it seems like you love doing that. so there is no point arguing with someone who doesn't want to listen to what everyone else says!

It was an interesting read however, call it whatever, bitcoin is the mother of all cryptocurrency .

PERIOD.

In the world of crypto currency, there is bitcoin as the first crypto currency, and all other crypto-currencies that are not bitcoins are called alternatives, that is, altcoyins. Therefore, bitcoin can not be both bitcoin and altcoyin simultaneously. It is nonsense. Moreover, the term altcoyin appeared after the creation of bitcoin as a designation of all crypto-currencies that are not bitcoins.

Something i need to consider imaginary or hallucinating.. This is the weirdest thread I’ve want to comment not because of disagreement to one but to emphasise that this way of thinking is not more than normal enough.. A failed attempt to produce a cryptocurrency in the past doesn’t mean it will be called the first.. If I attempt to swim around the world now and failed at 2 meters after the start can I already be in the history.. That’s logically wrong as I see it..

I think scottykarate=freightjoe
How can a newbie be so obsessed with another newbie to open a bash thread....
Just my 2 Sats

Not true. scottykarate is just a newbie shill trying desparately go get people to support his coming ICO for the trumpcoin

Thank you for calling Bitcoin a facade. That is of course correct. Only problem is that you are only here to promote the trumpcoin

Before bitcoin there are so many attempts to create digital currency but none of them succeed so Bitcoin is the first cryptocurrency that is successful of course bitcoin is an crypto so we cannot remove the fact that an altcoin can take over bitcoin but no one can say when's that gonna happen cause i think bitcoin will gonna last for another decade cause it is the only genuine in crypto industry.

Of course it can be defeated by another altcoin better than it does, but there are many investors still interested in using bitcoin as a trading unit,  so i don't think any altcoin could replace bitcoin.

... says the other half of the famous "Newbie Shill Bros"
C'mon. It's obvious, that you are trying to gain attention by this Dr. Jekyll and Mr. Hide game. Even your nicks look like there is the same person behind.

No way, bitcoin is not an altcoin.
Bitcoin cash, bitcoin gold, bitcoin dark, bitcoin plus are the altcoins.
Coins like Ethereum, Litecoin, Ripple, Dash, Monero, and Bitconnect are also altcoins :)

Hi there freightjoe! Indeed there is a cryptocurrency before, and they called it ecash created by David Chum. There are even articles validating from Wikipedia and other website about the existence of the process of sending, receiving an electronic form of cash. Bitcoin on the other hand, use the same crypto technology combined with blockchain technology plus the ability to create a new form of currency through mining and helping the whole decentralized network.
The misconception is the word “altcoin”. When people said altcoin, they are refereeing to the cryptocurrency ALTernative of bitCOIN. Thus, if bitcoin is not created there could be no such word such as altcoin.  ;)

cybersoft - is your personal strength so soft that you cannot handle to face the truth about Bitcoin?

I beg to disagree that that bitcoin is an altcoin. Bitcoin is the father and giant of the altcoins. The advent of bitcoin gave birth to altcoins. All altcoins have their fundamentals on bitcoin. So, bitcoin has existed close for more than 7yrs now and has gotten more popularity than some nations' currency and more value that the highest valued fiat currency. Bitcoin is not an altcoin.

Fake news.

Bitcoin is the only crypto that gets so much popularity and bitcoin as the first cryptococcus. So bitcoin is bitcoin. the other is altcoins.

Ok, so lets talk turkey here;
Altcoin is a name given to the other coins meaning they are alternative to original bitcoin, if you don't know what altcoin means.

Good luck with that

No other Alt coins would have existed, if it was not for Satoshi Nakamoto's genius in creating the first ever Crypto currency, called Bitcoin. The coins that came after Bitcoin was just copied from his original concept and code. It is a insult to Satoshi to call Bitcoin an Alt coin.

No other digital currency before Bitcoin can be defined as a Crypto currency. ^grrrrrrrr^

It is an insult to coins to call it Bitcoin. It should just be AltBit

Nope , already saw you praising BCH is that why are you here? You are taking too much time to convince members here because you know that BCH is going to flop real hard. Altcoin is alternative to Bitcoin, is Bitcoin alternative to Bitcoin ?  ??? ??? The answer is NO, therefore Bitcoin is not an altcoin. Cut the crap!

---

1 Kuwaiti Dinar equals 3.31 US Dollar, Bitcoin = 8K+ US Dollar. Don't be stupid.
Just like you, you are a member worshiping BCH and throwing shades at Bitcoin without even using your head to argue here. Get out of here this is Bitcointalk Forum.

Just like you, you are a member worshiping BCH and throwing shades at Bitcoin without even using your head to argue here. Get out of here this is Bitcointalk Forum.
[/quote]

People should just get out of all coins irrespective of their names. However you are right to point out scottyboy who is promoting his ICO for trumpcoin.

::) "scottykarate is just a newbie shill trying desparately go get people to support his coming ICO for the trumpcoin" I used your statement to compare it on what you are doing now ( i didn't intend to pinpoint scottykarate that he is a shill , i cannot confirm that because i have no time to scan all his posts and yeah, nvm i don't really care ) , you are throwing shade to Bitcoin, Stop trying hard to convince members here to worship BCH, go somewhere else stop spamming the forum, and lastly don't be stupid, prepare to cry because BCH will crash and definitely you will cry and regret supporting it.

In order to be able to make this claim, first you would have to define what exactly is altcoin. I would say that the most precise definition of altcoin would be "The coin/token insipred by Bitcoin or by it's success" and not "The first coin in use".

So what is the main coin then?

Bitcoin is the first decentralized cryptocurrency that exist and will ever be. For me, there is no such thing that 'Bitcoin is an altcoin' I think it is just an article that wants a traffic for their self gain. It is true that there are digital money or valued things that can be use to trade online before Bitcoin was created but they are centralized and not using the method of cryptography.

Guess what, Bitcoin was not the first currency that was created in the world though but it has the biggest as of this moment. Anything can happen in the future but I don't see any reason for the Bitcoin's downfall.

I don't think so, the main reason why bitcoin  is valued this high is because it is the first crypto coin introduce in the market, it earned trust of many users and investors it is also consider as the father of all crypto currencies. Maybe this news is not true or even if there are coins before bitcoin they did not make it keeping their position in the market and only bitcoin remains strong and appreciated.

I think no because as far as I know, bitcoins are the first anonymous decentrailized digital currency. And also it is the most leading. How come it became an altcoin?

It really doesn't matter. Bitcoin is a kind of Crypto currency and altcoin is another type of a cryptocurrency. But BITCOIN IS NOT AN ALTCOIN because there's a huge difference.

You need to shout because you have no arguments or facts?

I am not agree that.bitcoin is the number one of blockchain technology,also successful currency.without bitcoin  any one cannon use altcoin as money

As i know, bitcoin is the first cryptocurrency that was made by satoshi nakamoto from japan.
I never heard any other crypto currency before bitcoin and i only heard about virtual money before bitcoin but not crypto.
But yes, for me bitcoin also altcoin but its the first and the strongest one.

I have not heard this before. There may be some projects.
Bitcoin is the only crypto that gets so much popularity and everyone associated with the crypto market knows the bitcoin as the first cryptococcus. and make bitcoin as a digital currency that many people are interested in. So bitcoin is altcoin.

bitcoin is an altcoin
I do not know about altcoin and have never heard anything about this information
That's because people think about bitcoin
In my opinion it really is altcoin ::) ::) ::)

Bitcoin is not an altcoin because bitcoin is the main cryptocurrency in the market and the altcoins are basing in bitcoin alone. So i think that is enough for bitcoin to still the king and it will never become an altcoin unless it will be going to be replaced by another type of cryptocurrency or coin in the market.

Regardless if being caller one of the called one of the alternative coins out there. Bitcoin is bitcoin it's value is still irreplaceable it will hold unto the top of the cryptocurrency because it is one of the very foundation why cryptocurrencies are popular nowadays.

I just found out and have read it, is this really happening. to my knowledge the parent bitcoin of all types of altcoin, and altcoin is an alternative way to get bitcoin. and satoshi has created bitcoin, I was surprised to read it.

yes bitcoin maybe an altcoin but it is the most trusted altcoin and since crypto currency is only based on trust then bitcoin is the best coin so far.

ALT-coin means ALTERNATIVE-to-BITCOIN. therefore, as far as your argument is concerned, those other cryptos were probably just called - cryptocurrencies. and another therefore, BITCOIN can never be an ALTCOIN. Anyway, this is a good read though, it gives me a little brain-tickling thoughts that Satoshi might be one of those guys mentioned in the article. He failed at first, but he probably came back hiding behind his pseudo so the old deals won't be associated to bitcoins. But thank you for sharing this link though.

Oh shit. what the hell is wrong with you, man? If you don't have anything to say then better not type anything here, ok?

read what you have said - But BITCOIN IS NOT AN ALTCOIN because there's a huge difference. - what the hell, man? Ok, there is a huge difference according to you. Then can you please explain here what is the HUGE difference? because if you are not going to explain it briefly, your post doesn't really contribute at all. You must be tagged as a spammer. IDIOT!

If Bitcoin is an "alternative" coin what is it trying to alter? Bitcoin is the basis of all the crypto currency coin so it is impossible for it to become an alternate coin. Yes bitcoin maybe beaten by another crypto currency but the question is how and when.

You are right in one aspect - there were many "coins" earlier, before bitcoin. This is irrelevant, however. The way bitcoin and altcoin is defined, ALTcoin is any cryptocurrency other than BITcoin, notice the name similarity too. Therefore, it doesn't make sense to say bitcoin IS an altcoin. You are merely undermining definitions here, which is senseless.

Author said "first known attempt" and were referred to as smart cards that work like prepaid electronic cards. That's not cryptocurrency.

David Chaum's DigiCash could have been a form of cryptocurrency but it was unsuccessful, so, you still can't refer to it as the first real cryptocurrency prior to bitcoin. Those that followed weren't cryptocurrencies -- paypal, is a medium for money transfers. Although bitcoin can also be used as means to transfer money, it's much more than that.

Although I agree with the author that bitcoin was birthed out of the ideas and failures of cypherpunks and it was Satoshi Nakamoto's bitcoin that succeeded. Still that doesn't make bitcoin an altcoin. Bitcoin is the bitcoin, the first successful cryptocurrency and any alternative to bitcoin is referred to as an altcoin. So how can bitcoin be an altcoin? It can't be an alternative to itself, you know  ::)

as I know, bitcoin is the first cryptocurrency that exists. Then followed by other types of altcoin.

But I have arguments. Take a look at this article BitcoinBestBuy (https://bitcoinbestbuy.com). I'm particular on the paragraph "Avoid Altcoins". It's written that Bitcoin and Altcoin are different things!

Through lots of articles it's been clearly indicated that bitcoin is the base for the existence of each and every altcoin that we use for various needs. So altogether in a combined manner other than bitcoin is termed to be altcoins. Bitcoin won't fall under the category.

If we want to distinguish the true classification of bitcoin we need to know the true system of Bitcoin. We can't hide the fact that bitcoin is a form of crypto-currency. So for me having bitcoin is having the main crypto form out there in the market while altcoin or also called as alternative coin which is all crypto-currency next to bitcoin in terms of transactions and availability on the market.

Really? Come on! Bitcoin is best and most trustfull coin in the world. There are many false speculation, don't believe..

Bitcoin is not a altcoin for me. For me its the main coin and its not the second but the first coin ever made for crypto. So how can a main coin be altcoin ?

This sounds very wrong. Everyone here believes that bitcoin is the maincoin not a altcoin.

Often people consider bitcoin as altcoins but I think they must need to update their information and once they get to know about it, they will be astonished to see such confusions just rendering out of their mind. Bitcoin can never be called as altcoin rather awareness campaigns must be put in action to acknowledge people what are \the differences actually bitcoin and altcoins have.

Is that true? this is the first time I know. I will tell that anyone who has ever tried to make crypto coins, but satoshilah that helps life a bit. He has made bitcoin until now, the government is trying to stop the progress of bitcoin. I would say that bitcoin remains the top level for a long time.

Well, if you google the meaning of "altcoin" all they say is altcoin is "alternative to bitcoin". With that logic, you cannot consider bitcoin as an altcoin.