Bitcoin Forum

Let me make an analogy. Bitcoin is the house of the cryptocurrency market and Ethereum is a car. What do you think of other currencies? LTC? EOS? SHIB? NFT? etc.

It seems that they cannot be compared together. nft does not refer to a token

Bitcoin is more like the main foundation. The cryptocurrency market is strong now but given that it has Bitcoin as its main foundation, the moment Bitcoin crashes is also the moment the whole cryptocurrency market crashes. Other coins are simply riding with Bitcoin's popularity. The cryptocurrency market has Bitcoin acceptance as its main fuel.

Other coins don't play big roles in the market. They are shitcoins that are dependent on hype.

Bitcoin is the house and the house is on the corner of two avenues, two blocks away is where you can find a dogshit alley. Most dog owners stroll their dogs there to shit, these dog owners are irresponsible they don't even pick up the shits of their dogs. That's where you can find altcoins like LTC, EOS, SHIB and NFTs. Don't take it seriously bro they do have value, they are just not mainstream.

Haha..This was funny.

I'd not go as far as calling LTC  a shitcoin though. EOS is definitely a scam coin whose founder raised money and has now completely shrugged away any responsibility while they use the raised BTC for a fund of their own. Good for them though. The joke is on the idiots who thought a PoS chain could actually be the answer.

LTC is more like the model of the house you may build before going for the actual things or like your garage to try out some new fittings.


I mostly agree with this. Bitcoin is the foundation for all things crypto. This will become more and more pronounced as the US regulators tighten the regulations around all of the companies that are working from a US jurisdiction. This is going to be a watershed moment for crypto. Few will survive and those who do, will probably flourish beyond imagination. Just put at least 60% of your crypto worth into BTC and make your bets with the rest.

It is a really interesting analogy, so I would like to continue this row. I think that NFTs are the decoration of everything, different shit coins and meme coins like shiba inu and dogecoins are just birds that then fly away and then can arrive again. Different stable coins will be like an additional shelter where you can survive bad weather (crises in the crypto market).

Honestly, I don't understand the comparison and analogy between bitcoin and the other altcoins. However, you're spot on when you've said that bitcoin is the house, not just a house but the powerhouse of the crypto market because all of the cryptos are totally just going with wherever bitcoin is going. If I'll be adding the analogy of NFTs, we still don't know what's the future for them so I don't know the exact word to describe about it.

I like the analogy ;D
Yes, bitcoin is a house and the other currencies is at the inside of the house ;D
Bitcoin is like a city that leads the citizen to follow the bitcoin path as we know that bitcoin price can affect all of the coins. But I do not think that SHIB can follow the journey since the project is new and needs to survive in the crypto for some time. Who knows in the future, everything will change and the inside of the crypto will be different than now.

How about Bitcoin is the Mother Earth and other platforms like Doge, Shib or whatever dog name they input are plastics.
They are the one destroying the Mother Earth (which is Bitcoin in this case) polluting the cryptocurrencies field with all the non sense projects they make.
Then there is a billion dollar worth man who thinks those plastics are the ones who will save the Mother Earth for its fast and low fees but in fact they are just here to make profits in a short run and leave a polluted community.

Bitcoin is indeed home to the cryptocurrency market. As the first coin ever and its fantastic value Bitcoin is leading cryptocurrency. It includes such as Altcoins which are part of Bitcoin. Altcoins exist to improve or complete the shortcomings of Bitcoin. So even though it is called home and number one in cryptocurrency, Bitcoin still has its own advantages and disadvantages. Even more and more years Bitcoin is increasingly known to many people, it's really a good thing.

You cannot make such analogy, let's just say that both bitcoin and ethereum are the prime movers of the market. The rest is just a fork, a copy-cat or trying to undo the original just like what we have seen with ethereum as there are a lot of competitors. Nevertheless, as I have said, it's a prime mover coins so it's going to be difficult for this other coins to topple them at the top.

Bitcoin is the king of all cryptocurrencies or like it is like Diamonds in precious metals and then comes Ethereum which I think comes second as gold and lastly Litecoin as Silver.Everything else mentioned in this thread are just copy-cats trying to prove something but yet they have not proven anything,no one takes them seriously and they are irrelevant in this market of "precious metals".

Cryptocurrency is best known for the birth of Bitcoin. So it is very natural that Bitcoin is the main foundation in crypto even though there are many Altcoins born in the crypto market as a booster like Ethereum. Like a car as you say, ETH is able to fascinate others so that it attracts other innovations to follow, such as the NFT project.

Those coins must become passengers. The popularity of the altcoins happened due to the ethereum and these altcoins will not be popular tokens without the help from the ethereum and bitcoin. Bitcoin itself has become the history of ethereum as ethereum smartcontract code being created by forking the bitcoin code and then adding more and more functions on the code and it was getting deployed by ethereum core developers.
NFT just another trend and it must not be included in the list. Shiba was a garbage coin with no utility usage. Bitcoin as mother of crypto as it becomes the first open source crypto.
If there's no bitcoin and altcoin will never alive in the market right now. The altcoins were only using the hype that gained by the major crypto like ethereum.

You remind me of philipma1957's signature. It's a better analogy imo.
My thoughts about the other cryptos you mentioned? SHIB gets pretty hyped a lot since Doge got hyped since somehow they both resemble the same image but not the coin though.

Other coins are passengers or occupants if you analogize bitcoin and ethereum as houses and cars, the foundations of both are basic tools to run cars and strengthen houses in your analogy, to achieve input or output from those foundations, for the other coins you mentioned I am more interested on LTC and NFT, apart from that I don't like and don't have an analysis of their development, so I don't want to bet on the future of other coins.

Bitcoin is the house, the pure foundation of the crypto world. Everything else is just an object that nobody will miss if it breaks or ceases to exist any more. Basically if there is no bitcoin then there is nothing. Alts can’t survive without the reputation & success of bitcoin.

I will not really mind any analogy regarding your view of Bitcoin, because everyone has a different perspective with their respective history with Bitcoin, Like me Bitcoin is like a savior. Is it a problem for other people? obviously not. So also with your thoughts on Bitcoin, because while everyone has been fostered by Bitcoin up to this moment, there is historical value embedded in every story.  ;D

This is a good analogy also, although I believe that Bitcoin could exist on its own. Bitcoin the network could be the super highway and the best vehicles on it are still Bitcoin. Moving transactions are now fast and efficient with the help of the lightning network. The rest of the taxis and trucks that are likened to altcoins are the ones which are easily dispensable, quite risky, and mostly unsustainable.

OK

I would describe Bitcoin as a house, and this house is built quite large on a farm. And LTC, EOS, ... are just animals, trees, or whatever you think, and of course they all give meaning to a common home. Good or bad depends on each person's feelings, but I think such a house is wonderful.

That's right, bitcoin is the first foundation for other altcoins and ethereum I think has a second position under bitcoin. And cryptocurenncy exists because of bitcoin itself

NFTs is pure capital speculation. I can't understand its particularity.

If Ethereum is a car then LTC, Monero, etc. are other cars. Just a different brand.
Why the sudden analogy? Will this help you decide whether what coin you will buy that will take you to Lambo?  ;D
It's a healthy market if there is competition but it just became too much. The good thing is people still have lots of money to divide their investments.
Soon though, it may become different especially when ETH 2.0 comes out and if we see good changes about it. Investors will start going back and try to have a piece of it. Expect a big dump to other cryptocurrencies.

The whole crypto market evolve in bitcoin so yes, bitcoin is the strong foundation and ethereum and the rest of the altcoins are just its followers. If  bitcoin drops its price, most likely the whole crypto market will definitely fall too. And if bitcoin starts to rise up again, only those potential altcoins will eventually recover. So without bitcoin, the whole crypto will never make progress and might only stay undervalued.

However, every coin has its own function but it can never be deny that bitcoin still drives the crypto market to where it is right now.

Therefore, if the house is not safe or there is a disturbance, then the whole house will also feel insecure, so most of the residents of the house also experience panic. this is clearly seen when bitcoin undergoes a correction, it is immediately followed by most of the anna altcoins, and vice versa

One advantage of bitcoin is being the first crypto, when it became the first of course many companies had developed bitcoin so that it made bitcoin the most widely used, bitcoin benefited from the many altcoins because trading altcoins paired with bitcoin made the influence of bitcoin even stronger.

Of course, BTC will always be the king of cryptocurrency. There's no doubt about that. Almost half of my portfolio was allotted for bitcoin and the other half were devoted purely to my favorite top performing altcoins like ETH, ADA, LTC, BNB, and this promising crypto gem called XSN - the native currency of Stakenet. It is a formidable candidate that has the potential to surpass some of the hot coins we have right now.

Your Analogy is good, Bitcoin is more or less like the king of cryptocurrencies that has high influence in other altcoins. If bitcoin price falls today, almost all altcoins will surely go down too but if it goes up, others also follow and vice versa. So bitcoin is indeed the House of crypto market as its price have high influence in other altcoins price.

Because Bitcoin has long been famous and is also a good digital currency, so it's no wonder that everyone sets a benchmark on Bitcoin for every market condition and also every other cryptocurrency condition.