Bitcoin Forum

I look at BTC as the greatest thing for our world.  We need digital currency.  It makes sense.   But,  we live in a world where we are driven by greed and profit.   So with that said....

If someone creates a ALT coin to compete with BTC for first place, I think eventually that ALT coin will get there.  Because at the end of the day, if that 'ALT COIN" makes enough money they can continuously push their "ALT COIN to surpass BTC.   

I dont see anyone financially backing up BTC.   
I see Bcash and their owners making deals.
I see Ripple making deals
I see pretty much everyone else making deals
And pretty soon those deals that these "ALT Coins" are making will eventually climb them into the #1 spot


PLus, people are shorting BTC all day long.  It sucks, because im the "buy during the dip" guy.


my opinions only.... im ready for the backlash

Thanks for your honest opinion. The economy of the world is indeed drive by the greed and the potential of future profits. However, Bitcoin is the pioneer and true crypto currency currently available in the market. Majority of the altcoins are not qualified to be called as a crypto currency because they are not decentralized. For example, we can consider both Ripple and EOS. Both of the currencies are centralized in nature and they can ban your account for whatsoever reasons, just like EON did few weeks back. That is not possible with bitcoin. Once you have bitcoin in your wallet, only you are the supreme owner of that bitcoins and no one else can claim the ownership on that.

Likewise, every coin has their own pros and cons. Also when you are talking about profit, let me tell you that all early adopters of bitcoin are making huge profits even today. The ones who aren't making profits are the ones who had adopted bitcoin during late 2017s out of pure greed. I personally scored bitcoins when it was only standing at 450 USD. You can easily calculate the percentage of profits I am already in. It all depends on your adoption time.

Actually the insiders of crypto world and financial traders doing enormous profits with bitcoin, especially during the January bubble. The ones who got loss were all the newbie entering the market to get moon.
An alt coin could rise over bitcoin? Why not. But btc is like a standard, a value reserve as gold, a measure unity, so its position is pretty strong imo.

The main point you forget about bitcoin is that it is not controlled by any one and it is accepted by 99% of the crypto world. Majority of coins are valued through btc. The Altcoin which you are telling is controlled by their developer and if the developer abandon their project then automatically the coin value can go to zero also. But in btc case value going to zero is nill to possible as it is accepted by everyone and it is not controlled by anyone.

your problem is that you think bitcoin was created so that you can make money/profit from it which is why you think if there is no profit in bitcoin or there is more profit in an altcoin bitcoin will die!

but that is wrong. bitcoin is created to be a decentralized currency and when it does that it stays alive and strong. and the fact that it is rising and giving you "profit" is because it is a currency and majority of its adoption is because of that.

I do not think I agree with you, the limited number of bitcoin makes it always high.
Altcoins are copies of Bitcoin and will not overtake it soon unless bitcoin technology delayed as high transactions fees "Lightning network failure."
You talked about greed, but people still make profits from Bitcoin. These people will push demand to standard levels. With limited coins and high demand, Bitcoin will always be number one.
Maybe if there are two or three altcoins, It will outperform Bitcoin, but greed is the one who makes more than 1,000 altcoins and is therefore always less than Bitcoin

Those deals are merely deals from owners to another owner of an altcoin and the fact that NO ONE USES THEM TO BUY ONLINE is there. I see bitcoin being used by people to pay for goods and services online(particularly in marketplace section of this forum) but I rarely see people buying goods and services using altcoins such as Ripple and bitcoin cash. I also wouldn't call altcoins real currency if I were you because they are used merely as a speculative tool, not as a currency.

Nonsense, many people have benefited from bitcoin. Just like pumping altcoin, BTC investors also do pumps and they also sell at high prices to make a profit. If you say BTC does not bring any benefits, I think it's just your jealousy over the lucky ones.

OP is a newbie and just created a new account. So i am sure he would not know anything about btc or may be new here so would not know have even invested till now. Considering the last 6 months yes the market have not supported well as price has fallen only but does not mean it has not benefited people.

All these so called crypto deals are made by centralized companies/organizations that hold majority of these tokens, they have to do it, be it for either expanding the project or increasing their own profits and I don't see anything groundbreaking have happened yet, more of niche deals, not something on a global scale. And if you take Bitcoin Cash, wouldn't use the word owners, yeah the one's with major stakes are promoting it, setting up Bitcoin Cash fund, from own pocket/donations, social media advertising/marketing and if I am right the only ecommerce deal they had is with purse.io.

If you compare these cryptocurrencies, isn't Bitcoin different. Not a company and there is no central figure/owners to represent Bitcoin in meetups or cut deals. I do agree that a collective approach could be taken to advertise/promote Bitcoin on a large scale.

Your idea is still under if, more than 1500 coins on coinmarketcap with their investors still existing behind them with 2 or more years and they are yet to get the volume to surpass btc and even some of their prices had gone so low from competing with btc. They should just stop competing with btc and work on increasing their trade volume.

Bitcoin has survived and when all other hype tokens are gone, BTC will still be here, actually, BTC is not only intended for profit taking, so when do not see it from profit taking angle only then comes the beauty of BTC. Very reliable no central control, no one to arrest should it go either north or south in price movement.

The moment you register your account here you just aim for profit and this community will help you achieve that goal.. Saying those words don't compliment at all your appearance to this forum.

With a simple math, it would surely explain to you that btc has a great profit. Buy BTC at price of $6k then sell it at price $9k. The difference is what we called profit..

I think there are a lot of people here who understand why we need bitcoin.

I look forward to profiting from not having a bank dictate how and when and with what fees and to whom I can send my money to, or from whom I can receive money.

It's supposed to be a currency that holds it's value and doesn't inflate like the USD to an unpredictable supply. It's not supposed to be a risky company stock or a gamble.

Yes the potential for profit is there but it should never be the primary reason why we are in cryptocurrency. Once a crypto gets adopted I don't think we'll be seeing crazy bubbles and crazy price increases, and that's ok.

All I want is a currency I can hold on to without getting taxed 3-5% every year by the US government while getting nothing (through inflation).

That is profit enough. After the next blockhalving inflation in bitcoin will be under 2%. That is profit enough for me.


As for another coin surpassing bitcoin, that could be OK. As long as bitcoin helps me hedge against inflation I don't think this is a winner takes all kind of market.

Silver and Gold can exist together. So can bitcoin and litecoin. Although I do believe that alts are overvalued (even litecoin).

Thankyou all for your input and opinions.  I must say, its great to have a community like this where I can get the opinions of so many others.  Thank you again.

Bitcoin is definitely a currency and stands on its own against what "altcoins" I compared it too.  Bad example in my part but I think I got the point semi-accross.

People profit from Bitcoin.  Including myself since I bought in mid 2016 if i remember.


times are changing and its difficult for me to understand exactly whats happening with all the news and info we get.

Guys, Im still learning and appreciate the input...

What about these Forks to bitcoin.   Someone forks, its decentralized.... sorta.

The guys/girls who forked it make money off fees, mining, im sure they rewarded themselves handsomely with tokens or coins themselves too. 

These are the ones I think will have a high potential to take over, YES/No???

They take the btc name, its "decentralized"
they push for it to be accepted everywhere "bitcoincash" listed on Coinbase....  See where Im headed?

This is where I see the transition happening and start to form my own opinions on everything

yes, Im a newbie.  I bought btc early but didnt dig into as much as I should have.  This forum is a great resource for information and maybe throwing a obscene post to get answers is not smart or maybe its a part of my elaborate plan to get information faster.  ;D
 

thank you for your input

In order to see the prospects for development of bitcoins not only as a technology but also as a financial tool, it is important to watch a period of time not less than two years, then the growth of price and popularity will become evident. If you will assess prospects based on the last six months, then I think you will not get any objective information.

Are you sure that no one profits from Bitcoin? Everyone here does. Without Bitcoin you would never see Bitcoin Cash and Ripple. Many people started to value their financial privacy thanks to cryptocurrencies which mostly offer (pseudo)anonymous transactions. Privacy is the best thing we can get from cryptocurrencies. Bitcoin will become better in the future, Lightning Network already helps it with that.

I don't think so, since with the repeated inflation and blow-offs of bitcoin, that proves that there's still a market for people to take profit from, and there are still people interested in making a profit with it. As for your logic, take Blackcoin for example (a 2014 coin). It have had its time, specially when people are into it. After people took profits from the said coin, almost everyone moved to a newer coin with newer market/people. The thing is, it's not everyone wants profit; others still want development and practical uses for their coins. The reason I see why people are still into bitcoin after its poor performance from 2014-2016 and 2018 onwards is because they see something good at bitcoin that they cannot see at other top-performing coins when it comes to price.

I agree to disagree with the subject thread wherein there are still many people who made a profit with btc and these people are those who know how to understand the market trend and those holding their btc's while the market is on dip. Most of the people that had made good profit were those investors that had invested few years back and was able to ride the highest price value during Q4 of 2018.

First of all thanks for sharing a true and honest opinion from your side ;). I would like to tell you that all the markets in the world are driven by the Greed and Fear and the trading totally depends on these two factors because supply and demand are driven by these two factors. Don't compare bitcoin with other altcoins as both have different quality of services in their different technology ecosystem. Coming to the trading point, this is not true that BTC won't last in coming months because I am earning a good income from that and also you should be knowing when to enter long and shorts in bitcoin and other cryptocurrencies. I would advise you to plan a trading strategy and then take your trading decisions after tons of practice.

You have delivered a great opinion here mate,as i am reading your whole thread i found whats missing its the trust about technology,theres alot to mention about the profit and the earning but mny denies about what is behind this crypto coin and whats the main objective about this creation,i guess this is the right time to educate every single member of this community on whats really happening to ope their eyes that if this dies we will die with it

I think it's not just bitcoin that can make a person get greedy, but altcoin can also make a person get greedy, but altcoin will not be able to overtake bitcoin.

we need the crypto world, not only bitcoin, the balance will be created if we are able to manage and control all the crypto value becomes more special.

I hope you can be fair to bitcoin and altcoin.

it is a free market, if you really see shitcoins such as BCash and Ripple having more potential than bitcoin then feel free to switch to them. but the thing is, you don't show it but you already know they are shitcoins which are only good for temporary pump and dump. you are just left behind since the dip below $6k happened...

In my own opinion, a lot of people are earning profits from it. Even us is earning from it even if it is just a small amount of money compared to those who are really earning big amount of money from investments and other marketplaces. I also believe that bitcoin still has its popularity and that it will last as long as people specially users who transact with bitcoin will keep on using it and spreading it to the world.

Having a bitcoin is profitable. Unless you are not making any move to gain from it. Even by just holding bitcoin there is higher percentage that you'll earn profit from bitcoin. Just because bitcoin have decline its value means it is not profitable already. Come to think of it, from the very first time it was introduced until now. Look at how it has improved a lot when it comes to its price.

Then why despise the altcoins mentioned Bitcoin is still on the top?
Cryptocurrencies are not supposed to be created to make profits. It's maybe why some people don't profit? At least they are getting it wrong and if they are losing money then they will learn cryptocurrency the hard way

Im gonna recap the information Im reading in hopes to understand a general idea of what everyone is saying...  This is helping me greatly so thank you all again for your input.

Bitcoin  does help all of us generate profit.
Bitcoin wont go anywhere since it is decentralized and cannot be shut down.
Bitcoin has come a long way from the penny days and has alot of utilization right now.

So my new question is,

Are there any tokens created that are truly decentralized just like bitcoin? a fork perhaps?
And if there was a coin/token created in a centralized manner, are they able to ever make it decentralized and adopted by all similar to bitcoin?


So lets use bcash for example:

Everyone agrees that it will never have the ability to take over bitcoin?


Thanks ahead for your opinions.  (newbie trying to get schooled here) =)

 

making money is the last thing of importance when it comes to creating a currency! and so far only bitcoin has been a currency which is why it has value and it is keeping it and also increasing it every day as its adoption grows.

so if another better currency was created in the future you are correct.

so far what we have in altcoins is shitcoins made for pump and dumps and profit making. so you make more profit from these shitcoins but they won't even come close to bitcoin ever.

Well, I can understand your frustration and you are right too. But you know bitcoin is the king crypto and the most primitive coin. Still it has much influence and the market is judged by this coin. The altcoins doesn't refer to a single coin but bitcoin is the single entity. So, it will not be fair to compare bitcoin with the whole alt section. Bitcoin has started recovery and soon it will reach a optimum price. Don't be hopeless.

Well, Your statement is not mathematically reasonable. If You get loss and there is no real asset, that could had dissappear or get broken, that means the other side of Your deal has got profit.

Consider this: 5% of BTC are changing ownership EVERY DAY. This is hypervolatile and hyperspeculative monetary scheme, where You can win only on someone else´s loss. This is important to understand, BTC is not say stock of Netflix or etc, where You buy a share and get richer as company grows and people pay money for service. BTC is not a company, but a monetary scheme, which will collapse, when mining becomes pointless.

i strongly disagree. bitcoin is the standard in the cryptocurrency world. plus it is accepted by everyone and is decentralized and is controlled by no one. Unilike these altcoins,  they are centralized in nature.

Bitcoin is truly decentralized crypto currency.  It was created with the objective of creating international; decentralized; transferable at cheap commission, without any intermediary.  
But on the other hand the crypto being issued presently are being issued by manufacturing;trading ; or investment company.  These crypto are not truely decentralized.  These are like shares of companies issued with the  objective of earning profit from trading or manufacturing.  The price of these crypto depends upon demand as well as profits of the company.

What profit of which company? Do You even understand, what You write???

Bitcoin is not all about profit it is all about how to be free from controlling the economy by greedy political power and bitcoin was created to not be affected by any nations about inflations and economic status and the decentralization of cryptocurency was conceived at that is what we called bitcoin. Bitcoin owns no one and it is not a company nor brand nor bank but it beats other large brand names and companies in terms of marketcap.

No its not. BTC core technology will never work, because such technology is too energy-costly for such mainstream product as transferring assets. It is purely speculative "asset." Yes, market cap is awesome and consists of greedy whales, break-even gamblers and poor bastards whol lose money, because they enter into BTC with hope of ROI from investment. They are thrown into scheme instead.

Totally agreed mate. I believe it is just the matter of time. System changes take time.

Every source of income can make people greedy. Money influences bad on people becuse once they get a lot of it, they can't never get enough.
The truth is that many traders don't keep that in mind and just forget themselves. Greed makes them to get very strange decisions.
But if you are wise and skilled enough you can get continuos profit. You will not get rich but it will be a nice income and in that form Bitcoin is completely sustainable. The key is to find the right measure.

Because bitcoin is the first coin and the other alcoin only imitate from bitcoin and add improvement. Many people didn't have faith beside Bitcoin cause there are many shitcoin around, if Bitcoin didn't make any improvement or fix its deficiencies maybe ETH or the other can replace bitcoin

I guess that's just your baseless assumption. try to compare from time to time until now.
none of the alt can compete with bitcoin even though there are many more sophisticated deals and technologies.
Why did it happen ? there are many factors that strengthen bitcoin will always be the king of all crypto. especially the market is always bound to bitcoin, up and down bitcoin will greatly affect on alt. and this is a fact

You are somehow right. But not totally right. Yes all the crypto-currency is not real, I do agree with this. But, bitcoin is secure and safe. Once you have the coin then you are the only owner of those coin if it is bitcoin. And the profit. Well, Actually it is a long time investment. Think of those who buy bitcoin when the value was like 500$ or 1000$. How much they profit?

I still feel like I didnt get my true point accross...

We all invest in Bitcoin and we all profit from it when it goes up.  For some of us who day trade, you make money thru the volatility.

What Im trying to sayi is.... there isnt a CEO of Bitcoin that will reap huge benefits.  There are people with lots of bitcoin but thats not the same.

Im saying in comparison to a centralized Token/coin.   Lets use bcash for example again...

The creators of Bcash will continuously keep pushing for their coin to take first place because they financially benefit from it most. They can potentially team up with miners and merchant services, huge corporations because they have a face and the human factor.  They can create deals and shake hands. 

Who is doing this for bitcoin??? ???

I know Bitcoin has  strong support in getting bitcoins accepted everywhere, but I think with the right amount of money behind an alt coin, with the right connections and timing, it can possibly take first place one day. 

Does anyone else think  this is possible???

bitcoin is not supposed to make people millionaires. It's here to cut the centralized banking systems and bring the money back to the hands of regular people. Obviously you can't understand that

it seems you have never benefited from BTC, why you predict bitcoin will not last, I am still sure bitcoin will still survive in the first position of all krypto ;D ;D

This is a false statement and should be ignored.  We all know how beneficial and helpful bitcoin is so telling me this kind of comment will really bring me into disgust. A lot of people have benefited from btc so how come you're saying that it is not. Well it's just a matter of effort in order to be successful in here.

I do understand the purpose of and why Bitcoin was created.  I believe in it.  This is why Im holding it and consider it to be potentially one of our final currencies to replace fiat...   I want to know everyones opinion about having some other coin/token aiming to take its place.  and what the possibilities of that is.

And my understanding has changed quite a bit since posting this a few days ago.

Exchanges financially benefit from bitcoin , but they probably financially benefit just as much from altcoins too.

Actually you are wrong when you say that no one really profits from it. If you have observe the market which is highly volatile that means those who day trade had earned on it already. Some of them are using a system to day trade. ANother thing that that others are earning is mining, those exchanges, and ICO projects which gather relatively huge amount of fiat money for the project to implement and created an opportunity for some other individuals.

Bitcoin will not reach the highest peak of it's popularity if no ones gets profits from it. Bitcoin lasts this long because many investors and many people believes in the market potential of cryptocurrency. It is beneficial for bitcoin believers.

No altcoin will ever beat beatcoin. Bitcoin will always take its first place, as its technology is constantly being improved and does not stand still. Do you really think that something can overtake Bitcoin?

Well most of your sights are right,this what make bitcoin drops popularity those greed that manipulates market,added those weak handed humans that with just a small drop from the price they sell instantly their coins without little patience and this really sucks

Thats why i love your arguments since i guess this is the right time to tackle this serious matters for the benefits of us al

What makes you sure that no one is not getting profits from bitcoin? Big investors are profiting from bitcoin. People who bought low and sold high did make a huge profit out of bitcoin. Basically, everyone is getting profits from bitcoin. And to prove that, look at the price last year. It had a huge increase. Perhaps you are saying that because the price has fallen and it still has not grown back yet. You need to be a little bit patient.

You have no idea how wrong you are regarding how the markets work. You don't require a financial banking to succeed in this world, Bitcoin was created with zero money taken from anyone. If you know anything about the open source community than you might have known that Bitcoin has them developing for it.

Well, if you have taken a little review about the altcoins, you'd realize they all have their specific reasons for which they were created for and not all of them were made to compete with BTC. And by the way, who said no one benefits from BTC, I have used Bitcoin in so many different ways buddy.

Bitcoin as well other digital currencies would have never gained such a popularity if none has benefitted out of it. Importantly the benefits that each and every user got through bitcoin has made it reach large user network without any promotional advertising and just through the word of mouth spreading.

Have you seen how many alt coins there are? Currently there are 1612 altcoins (https://coinmarketcap.com/all/views/all/) according to coinmarketcap and see the marketcap of these altcoins. Is a very low marketcap, see the use of these altcoins. you will see that more than 50% of these altcoins have no use, they were created only for certain dev to become rich, nothing more. And we have the issue of decentralization, the altcoins are centralized, the dev control everything. is as if they were a gang. so it's much better to use bitcoin than to use an altcoin.


truth

I do not agree with the op. I think Bitcoin has given a lot of profit to a lot of people without any selfishness. The old coins who are running them they need profit. If they do not get any profit from it and we will not Run anymore. Buy with Bitcoin we do not have that type of problem Bitcoin can be used without of thinking about what they will get all we have to do this just think about yourself and how we are going to use it and that will fuel the Bitcoin community. For me, Bitcoin is number 1 and it will be always number one because it's a nonprofit system and all the other systems are profit making system.

Are you joking? What do you mean by "profits"? Are you here only for he purpose of fiat in and fiat out trades? Bitcoin is much more than just an investment vehicle. While profits are nice many people came here to help spread the word about it, introduce payments into their own businesses, find a way to work for BTC, and so on.
You're so far from the truth by talking about its peak. If you want that peak to be a bubble that pops once those on top feel like they've gained enough, that's the way to go.

You're right Slow death and this was the same thing the Chinese trying to do when they supported NEO and EOS while they posted FUD about bitcoin. People seems not to get it that bitcoin is not just an ordinary crypto currency.

it is not "no one" it is just you. and the reason is simply because you listened to the FUD instead of listening to your own logic and using your own brain. when some idiot told you to "buy" you jump to buy bitcoin and when another idiot told you to sell because bitcoin is dead you panicked and jumped again to sell bitcoin and in this process that you repeated multiple times you lost a lot of money each time.

then you made the mistake of listening to another kind of idiots on the internet who were telling you to buy shitcoins. after a while you found yourself with bags filled with a lot of altcoins each of which losing value up to 90% and you found yourself in a lot of loss.

that is why you are so negative right now. so my suggestion is to start looking back and see what you did wrong. stop listening to idiots on the internet and start using your own head and stop bag holding altcoins.

was this message for me or are you generally speaking to people with this topic in mind?

I would assume you only hold BTC and a few other top CMC cryptos...  ANy chance one of the other coins/tokens will take a lead over bitcoin?

I do not think so. You say it because you do not benefit from bitcoin but out there there are many people who use bitcoin in real terms, they use it for various things, either just as an investment tool, or a means of payment.
If you say bitcoin has no fans, you're wrong. Even many people from poor countries use bitcoin as a means of payment for their trade.

I am a living proof that bitcoin is profitable. The number of people who profited from bitcoin may have decreased in the past six months. But the market is now showing signs of recovery, $6,700 and rising as I write this comment.

Thank you for sharing! The world is still in a state of accepting bitcoin as an electronic form and it is still quite ambiguous to everyone! So sometimes it will cause confusion

It's true a lot of people don't really profit from it unless they have a legit job paying in btc or there either doing blackhat methods or scamming people, hopefully, though in the future someone finds a way to make it the legit market for it besides mining.

Somehow, you're correct with your statement. Perhaps, yes. Bitcoin will really be left out by some other coin. But for now, majority of people only know about Bitcoin as a crypto, but when the time comes people will start to notice all of those other coins.

And do you think that if it is not profitable for you, everybody will STOP using bitcoin? mate your are crazy, most of the strong holders are not in here because of the money, they are in here because of the way that bitcoin works

I'm opposing to this idea, "Becoz NO ONE really profits from it". If you're a real trader, you can even make huge profits from prices movements (uptrend/downtrend) whether the Bitcoin price fall or climb in a matter of time and knowledge. To be honest, buying at wrong timing is unreasonable for long term hold.

Btc will last for sure.This is just a bad situation we are seeing now in crypto.When it comes to profit,yes some are still  makng profit but in a small amount.Panic sellers are selling and the real holders are holding till the right moment come.
So we should just await for the right time.

The majority of altcoins are not eligible to be called currency coding because they are not hierarchical. Only you are the ultimate owner of that bitcoin and no one else can claim ownership on it. Those who do not make a profit are those who used bitcoin at the end of 2017 beyond pure greed. I personally recorded bitcoin when it only stood at $ 450. You can easily calculate the percentage of profit that I have. It all depends on the time of your adoption. especially in the January bubble. The losers are all new people entering the market to get the moon. a uniform measure, so its position is quite strong imo.