Bitcoin Forum

My new thought about the low investors rate on Bitcoin, this came to my mind this evening and I want to share my thoughts with everyone and not keeping it alone.
Bitcoin investors are much more than altcoins we all know that but thats not important, the important thing is Bitcoin is supposed to have more investors now if only their was no altcoins in the market, if you checked the numbers of investors you will understand what am trying to say. The competition in the market is making more investors not to invest more capital on Bitcoin.
If we use our fiat banks as an example, imagine we have only one bank in the country every citizens will want to open the bank and starts using it but if the banks are more people will spread and use other Banks.
If there's only Bitcoin in the market more investors will invest in Bitcoin because there is no competition. Although the price rate is much more than other coin, but people will still invest on altcoins because that's how Bitcoin price started so low.

I see what you're saying. If only one cryptocurrency exists, which is Bitcoin, there is a good chance that there are more investors now. If there are no alts, many investors will move their money to Bitcoin. But we must remember that if people truly believe in the Bitcoin mechanism, even if there are alternatives, they will always invest in Bitcoin. And we must admit that there are some instances where alts benefit Bitcoin.

With very little experience in Bitcoin my opinion is based on layman's understanding, so please correct me if I'm wrong, it's true without other altcoins Bitcoin investors would be much but, looking at it from the other hand without these other altcoins and tokens the popularity of cypto world and it's digital currencies would still be in a drowsy motion i.e competition amongst Bitcoin and other altcoins has made Bitcoin more popular and trust worthy for investment because, Bitcoin has proven its outstanding authenticity when compared to other altcoins.

TBH, it's not about BTC or altcoins but the greed in the investors to make money. It's not about the competition at all, it's all about getting rich as quickly as they can and most investors think and believe that if BTC will rise, alts will rise much higher in terms of % which isn't wrong at all but it's not the case every single time. So I'd say that BTC is for those who want their money to be parked in a safe haven asset, other altcoins are just clowns and will surely make you lose big if they won't follow BTC when BTC rises, this happens when institutional investors want to bring BTC's dominance higher over alts.

No! i think you have made some mistake in understanding the potential BTC have. And what's the benefit of competition if there will exist no ALTs. As then the market dominance of BTC will become 100%. And there will be no competition which is less exciting. And investors will always find another way to diversify their portfolio. If they will not find any ALTs to invest in.

In short, your question needs to be upgraded with information of dominance of BTC. which is increasing from its origin. Like if we see in 2019 the dominance (https://www.tradingview.com/symbols/BTC.D/) of BTC was around 70% if i am not wrong and from then it is keep getting low indicating that the investors are moving in other directions. like Defi, NFTs, etc. And now in the current phase many investors are moving towards AI. To increase their portfolio.

Despite the competition, anybody who still wants to invest in Bitcoin would do so. It must not be as if someone is forced to do something that they never wanted to do. It's good that Altcoins are there as well, so that no one would say that they never saw another alternative, which was the reason they had to invest in Bitcoin. Even if it were only Bitcoin we had as the only crypto, there are still some people who would not invest because they don't believe in it. Most people that are even Investing in Altcoins are only doing it for the short term, so they can be lucky for a quick profit if the token luckily gets pumped, but Bitcoin is still what people are holding for a longer time because they believe in it, compared to every other altcoin.

Although it's true the existence of altcoins make people who're want to invest in Bitcoin is divided, but there's nothing we can do and we know Bitcoin is always win among other cryptocurrency. Newbie will make mistake and it's completely fine, as long as they know invest in altcoins is wrong and then choose to invest in Bitcoin, they're already in the right path.

I'd say it's not a competition, but it's a part of learning. Since there are still many altcoins exist and traded everyday, it show many there are a lot uneducated people.

That's okay, the total number of altcoins in the market is almost unlimited but all of them manage to stay in the competition. We all know that we're having the same thoughts of what if most of those market capitalization that are being spreaded in the altcoins goes to bitcoin.

It's going to be enormous and the price of Bitcoin will surely get a huge bump.

But that's okay, competitions are everywhere in every market that's why you can't think of the best of it. In the end, the best will still be prevailed and that's why many retail and institutional investors are always choosing the best which is BTC.

If there were only Bitcoins on the market, that might not keep Bitcoin from getting this far. And the Bitcoin price will also not be able to increase to as high as yesterday and will be even higher in the future. People also don't pay much attention to Bitcoin because they haven't been able to see the advantages of Bitcoin for them.

Maybe the number of Bitcoin investors wouldn't be as many as it is today if it was only Bitcoin because what makes people interested in using Bitcoin is the big profit factor they can get. Meanwhile, the presence of altcoins gives people hope to benefit in the form of more Bitcoins through trading.

But forget about the competition between Bitcoin and altcoins because altcoins are not comparable to Bitcoin. Maybe the competition is between one altcoin and another because each altcoin wants a good position in the market.

If there were only Bitcoins on the market, then there would be no difference.
If in each country there is only one fiat bank, then people will not know which bank has a greater profit when making deposits.

With alternative coin (Altcoins) other than Bitcoin in the crypto space, it makes it easy for investors to choose the best type of investment to make.
The convenience that can be obtained by investors who don't have a lot of capital, they can invest in Altcoins when the ability to buy Bitcoin is not enough money even though these investors recognize Bitcoin as the best investment asset.

TBH, it won't be a big deal when there are Altcoins and there won't be competition because Bitcoin is the single best coin out there in the crypto space.

Exactly, and it's also worth mentioning that there will always be innovation so people will try and replicate bitcoin's success and some might even improve upon what they think bitcoin is lacking or that they're just ambitious and they want to create a competition. Nonetheless, even if there is no competition for bitcoin, I don't think that the price will go this high because without competition, there's no notoriety that bitcoin is experiencing right now and even if there is, I don't think it's going to be the same.

Checking numbers of investor in Bitcoin and altcoins, are you seriously do it and how you do it?

We can know holders of bitcoin and altcoins but how do we know how many investors from those coin and token holders?

We never know about the number but we don't need that number to know that people invest or gamble their capital with altcoins more than with Bitcoin. Because only 1 Bitcoin on Coin market and thousands of altcoin on the market. Whatever they created how many altcoins and how many stupid investors fall into altcoins, Bitcoin is a biggest dominator in the market.

It could be, but as humans there is bound to have some sort of competition or at least there will be options, and that's why altcoin market was invented in the first place.  It's an "alternative" to BTC.

At least though we are still in the 40%++, so it means that bitcoin dominates the market even though there are like thousands of altcoins out there. So that is good enough to hear that and obviously, bitcoin has a lot of investors, including government, institutions and retail investors just like the majority of us.

Other cryptocurrencies aren't necessarily "competition" but yea some of the money indeed goes to those tokens instead of bitcoin. But yea so.. what's your point? Do you propose that we ban all altcoins or something lol? This is an open market — anyone can compete if they want.

Do you think the existence of altcoins affects bitcoin by an inch? they are two different things, they can't compete bitcoin and as far as am concerned, every one having one or two altcoins also posses bitcoin as their main cryptocurrency had invested in, i will admit that everyone by default have been introduced to bitcoin before any other cryptocurrency and would have developed some portfolios in bitcoin investment before advancing into making an additional efforts with alts currencies.


The idea is that you can get people into bitcoin and later investing on other cryptocurrencies and some may not even go there because of the risk with alts, it's very rare of you to see an altcoins investors not having bitcoin or not to have invested in bitcoin, it's very common now that you discover people making bitcoin their first investment with an additional of other cryptocurrencies to back it up.


I disagree, which competition is going, it's a choice that people made, no altcoins can have value and priority like bitcoin, bitcoin is the leading cryptocurrency and other cryptocurrencies follows, only a newbie will take altcoins for an investment but an experienced person will only invest on bitcoin and take risk on others if he wish to.

I think that's just the rational way, but there's nothing like the "only one" in a market so big. In some way or the other, opportunistic humans would definitely make their own and start something that could change the world for the better or for the worse. This is also the reason why I think BTC won't' be topped because of the people/person behind it, Satoshi, built it anonymously and made it into a game changer and none is going to take that away. And creators who have their names all over the project could have some different look on the purpose of it or something. That's just my take.

The price of BTC is dictated by the market. Starting low is a good start because it's just starting and not a lot of people are into buying it yet. But when it did, it's just boom and I think it would never change.

I do not think that someone will invest more than 50% in alternative currencies in exchange for a smaller percentage in Bitcoin. Most investors invest mainly in Bitcoin along with several cryptocurrencies. This percentage may vary from 0% to 50%, but everyone who invests more than 50% is someone who does not know the nature of investment.

Since you gave an example of banks, after the crisis in three US banks, more people are investing in large banks instead of peripheral banks that do not have a large customer base.

I don't share your opinion, a world where you take away opinions from people is never a nice option, I would start with the fact that it's called crypto-currency and not Bitcoin, crypto-currency is a digital asset that still comprises of other coins that includes Bitcoin and altcoins.

Obviously Bitcoin is more popular than any other altcoins but still there are people who have made good profits from altcoins and have actually made use of it and also there are those who have lost from it, still I believe it's best people have the option to choice which crypto-currency they are interested in.

If Bitcoin didn't had any flaws in it, other altcoins would never emerge especially Ethereum. Despite it's high gas fee, it's very popular among the new investors to buy ETH as compared to Bitcoin.
Reason being the Dapps they have implemented by the biggest brands in the world on Ethereum and other second layer like Polygon etc.

Everything happens for a reason, and Bitcoin will continue to grow for those who HODL. ;)

If we talk about transaction fees, Ethereum blockchain is worse than Bitcoin blockchain since its 2017 and 2018 bull run.
If we talk about centralization and decentralization, about risk, Bitcoin blockchain is decentralized while Ethereum blockchain is not.
See A comparison chart on average transaction fees on Bitcoin and Ethereum blockchains (https://bitinfocharts.com/comparison/transactionfees-btc-eth.html#alltime). The red is for Ethereum, the blue is for Bitcoin.

People just choose Ethereum rather than Bitcoin because it is cheaper than Bitcoin.

Their smart contracts and dApps around ERC20 chain cause losses to many people who believe in DeFi, GameFi, Metaverse projects and expensive transaction fees on the chain.

Bitcoin is unique and will continue to be a biggest cryptocurrency, a leader in this market.

If there is no other coins in cryptocurrency apart from bitcoin then there is no need for the competition you are talking about and it will not be interesting as it is now. When there is many options to choose from and yet you see a particular product doing well and attract more customers despite having rivals, then it's a sign that particular product is of high quality and that's the case with bitcoin. There is no reason to doubt it since it has proven itself among the rival coins.

Now people are diversifying their portfolio in altcoin and bitcoin, if just bitcoin was there for investement then more people would preferred it but I think that if even altcoins are available for investment people desires to put money into bitcoin.
I think if there arises new technology which will be more successful than bitcoin people will give value to bitcoin as it is old currency and asset that turn Millionaires into Billionaires.
There is competition for only bitcoin as price increases more and more on regular basis. Altcoins are also more valuable because as compared to bitcoin altcoins are less expensive.

In my view, there are no real competitors to Bitcoin. Other cryptocurrencies, known as altcoins, are primarily traded with Bitcoin. People want to profit, and if Bitcoin were the only currency, it would be difficult to assess its value. While you could consider altcoins as potential competitors in theory, they don't truly compete with Bitcoin in practice. The presence of altcoins is crucial for a broader market as investors can make money from them. Additionally, altcoin teams actively promote cryptocurrencies, which increases overall awareness and benefits Bitcoin indirectly.

Confused by cryptocurrency types? Friend, we're here. Bitcoin and other cryptocurrencies fight for purchasers' money in the marketplace. Altcoins, like plants after a rain, have gained market share from Bitcoin. Only Bitcoin? It's like living in a country with one bank, right?

This notion holds that people spend because they have no other option. Could purchasers like altcoins' variety, tales, and new ideas? Altcoins aren't just digital gold, and Bitcoin's "store of value" tale may not appeal to everyone.

the crypto market is like a cake, bitcoin has the biggest share in the cake (market) and the rest is just altcoins, that's very true if there were no altcoins then all investors would only glance at bitcoin, even so the purpose of creating altcoins was for various reasons, some were against bitcoin and some were actually created just to become memes like dogecoin. btw, several times it crossed my mind, is it possible that the majority of bitcoin investors have other coins they hold!

Actually to rectify this very thing market has a phenomenon for itself. It's that market infact all the altcoins will only go green when bitcoin is green and similarly all the market will go red when bitcoin will go red so this way there always should be a constant pump to bitcoin so that other coins grow as well.

we can't deny the possibility that a new technology will arise in the future. but for now, bitcoin is still the leading cryptocurrency among these thousands of alts. hence, a lot are still preferring to stash some bitcoin along with some valuable alts. most alts will be gone in few months or years, but btc still keep on its ground. this is why, people are trusting this coin to be part of their portfolio.

Competition breeds innovation, which could be said for bitcoin and the entirety of the cryptocurrency world too. If all altcoins are gone and bitcoin only remains, sure we may see an upsurge of people investing on the platform but at the same time advancements in the cryptocurrency industry will no longer happen. Say good bye to NFTs, to DeFi, say good bye to everything that you're able to enjoy in the cryptocurrency world cause for the most part the only thing that bitcoin's got going for it is the fact that it's valuable. Slash that out and it's going to be rat stomped by the competition. This, alone will kill the cryptocurrency world cause no one would bother investing on a coin that does nothing but be a payment method when fiat's more accessible and convenient.

The competition is interesting and I believe it is among the reason why the cryptocurrency market is taken over the financial sector of the world gradually. Investors will always go for what they think will favour them the most, being it bitcoin or altcoin. Both bitcoin and other altcoins are important in the long term future of cryptocurrencies, the competition is paving way for their growth and adoption and that’s the most important aspect of it.

I agree with you 100%. Given the new innovations I'm seen in the crypto space over the years, it is indeed true that competition drives innovation. If not for innovation, we wouldn't have had solutions and use cases that are currently available in the space today. Transferring value via Bitcoin is great but in the traditional finance industry, there's so much you can do apart from just transferring value from one entity to another. Competing blockchains enabled this since you can't run smart contracts directly on bitcoin network without any complex tooling.

I don't know how you managed to come by these statistics but I would have e like to have the facts to the claims in OP!

What really leaves you with the impression that bitcoin has hot low or  declined patronage at the moment compared to times past or with the various altcoins out there.
Besides, bitcoin isn't the sort of coin that seeks people's approval or patronage. The little it's got is enough and I don't see what role a populated bitcoin old play other than opening spaces for P2P transactions.

You can't expect bitcoin to operate a monopoly, it just shouldn't be and won't be. Bitcoin is doing okay and it's charts remains as healthy as it could be when compared with other atcoins.

For a fact, it sounds odd to make any comparison as bitcoin remains on a lane of its own.

I seriously doubt that altcoins steal potential investors from Bitcoin. Altcoins are ultra-high risk investments that promise very fast returns. Bitcoin promises nothing, it has no marketing teams, no official promises at all, it's just an open source project focused on improving what it already does. Altcoins and Bitcoin are like penny stocks and S&P500. They attract different types of investors.

Altcoin partly contribute to the success of Bitcoin by reaching possible Bitcoin investors when people found out that the majority of altcoins are just scams and for money grab.  I agree that without altcoin, Bitcoin will surely have market capitalization but I think the information propagation would be slower.  Due to the effort of some altcoins in promoting their project while being paired with Bitcoin, they indirectly promote Bitcoin to their target audience.

Altcoins are good but Bitcoin is the best. No one compares to Bitcoin in my opinion. Altcoins also have many investors who still hold BNB,Ethereum,etc. Yes Bitcoin has more investors than Altcoins. You said if there is no altcoins in the market then investors in bitcoin will increase yes you are right. Due to the absence of altcoins in the market,as investors of Bitcoin will increase,the price of Bitcoin will increase so much that not everyone will be able to buy it. But in my opinion altcoin will not die nor bitcoin will die. Everything has a little ups and downs. As you said there will be no competition when there is only bitcoin in the market. Then many investors in altcoins will increase because the price of Bitcoin will decrease. But altcoins will not affect Bitcoin. Bitcoin is ahead and best in the competitive market.

I seems not to agree with you on this very statement of yours given above, because it is the competition that actually create balance in the world of cryptocurrency, giving each individual the ability to diversify their portfolio and means of storing value, because imagine we had just only Bitcoin, I'm sure the world of cryptocurrency would have being very boring, but with the presence of altcoins now, it gives traders the ability to still make huge profit/lose since altcoins are most volatile.

Bitcoin can't do this alone, the world is advancing and that is expected of blockchain technology too, look into the biggest altcoins and compare their utilities, you expect Bitcoin to be all utilities in 1? That's not possible, every new technologies have their disadvantages too, Bitcoin can't do or offer what Polygon Matic is offering, and vice versa.

If Bitcoin never existed, projects like Polygon will still do very well, the uniqueness of few altcoins makes them very useful, what Bitcoin did so well is the better store of value and real decentralized digital currency, this is what makes Bitcoin more reliable than other altcoins.

I am no more supporting the idea that altcoins are standing because of Bitcoin, yes this is true for the majority of alts but very few alts has what it takes.

I don't think Bitcoin is competing with any other coin, you don't expect an investor in the cryptocurrency lane to settle for just one investment. This doesn't mean that Bitcoin is competing with  other alternative coins, this just means an investor act of being versatile.

If bitcoin is competing with other coins why do we advice a new investor to invest in it, before you tell someone about an investment, I believe you would have known the reliability and accessibility of such commodity or asset.

To me I don't see any competition here, I just see people not putting their money in a particular investment, if there is competition why always bitcoin. I am not saying that altcoins are not good but practically Bitcoin is the most excellent.

Altcoins were going to appear sooner or later as this is the way any free market works, if one company releases an amazing product that no one saw coming then the rest of the companies on the same market will do everything they can to catch up, and while not exactly the same this is what we are seeing with altcoins and even CBDCs, as governments are creating their own coins as they cannot allow bitcoin and stable coins to not have any competition, now are altcoins a net positive to this market? That is a difficult question, with a few altcoins getting a yes for an answer, while the majority are a net negative as they are nothing but scams with extra steps.

Bitcoin's competitors aren't actually altcoins, it's other non-currencies and assets. Bitcoin already has a significant plurality of the crypto market cap, and the total crypto market cap is only a fraction of the GDP of the U.S. or Europe. Altcoins will always be a mixed bag, I don't particularly care about them. If crypto as a whole can take up market share against other assets, even if it's altcoins that take part of that share, Bitcoiners would be better off.

Whoa whoa, calm down with your lumping altcoins with CBDC, imo CBDC is an insult to the core vision of cryptocurrency which is freedom from control whereas CBDC is the exact opposite of that. Also, there's no different free market, there's only one free market. Regarding your question, I think that it's a net positive given that altcoin season is an indicator for the movement of bitcoin right? Anything that helps you predict bitcoin's movement is a net positive in my book.

if for example the only crypto in this world is bitcoin, it has the potential that the price of btc will be higher, because people only invest in btc, but in reality there are many altcoins now and of course we have to accept the fact that now there are bitcoins and altcoins so we as btc investors should be able to enjoy our investment even though there are bitcoins and altcoins in this world.

Money is a symbiosis of information and faith.
To understand the nature of money, you need profound knowledge of mathematics (especially applied areas like "Game Theory") and equally deep knowledge of religious history. I won't burden the chat with mathematical formulas, so let's focus on the history of religions.

Many researchers believe that the concept of monotheism is relative, and this idea is a result of the gradual development from genotheism (a state of religious consciousness where individual deities lack specificity and stability, and each can replace all others) to monolatry (a system of beliefs based on the faith in multiple gods with one leading god).

Historically, it turned out that the most progressive religions on Earth are monotheistic - Christianity and Islam. This means a belief in one God (although He may be represented, for example, in three persons or more). One can defend a million useless dissertations explaining why it is so, but let's just accept this fact as an objective reality given to us through experience. My theory on this matter is that building temples for the entire pantheon of gods was much more costly than constructing uniform temples where everyone adheres to a unified ideology. This also provides a second advantage - monopoly on God (monotheism). It is easier for the state to govern monotheism than a group of scattered idiots believing in different deities, from Athena and Aphrodite to Zeus and beyond.

If we draw an analogy between faith and money, it is quite reasonable that humanity will eventually move from "polymonetarism" (multiple local currencies of scattered states) to "monomonetarism" (a unified "Ideal Money" not controlled by any state), and in some sense, this transition is inevitable. The advantages are obvious, as, for example, the Roman Empire (where Christianity became the main religion) no longer exists, but Christianity still does. Today, any money holds value only as long as the issuing state exists, and this is a significant problem for humanity (for instance, if you were born in the USSR).

So we need Bitcoin foundation or religious Order.

https://bitcointalk.org/index.php?topic=5460756.0

After all owning Bitcoin is a freedom to choose, even though there's only one crypto right now, people might prefer to buy real estate, stock or gold rather than Bitcoin. Not all funds in every altcoins that we have seen on the coinmarketcap are real number, it could be manipulated from the centralized exchange or the developer invest his own money to increase the marketcap and rank.

You wouldn't be able to choose lead as money in the Roman Empire. Money or religion is never a matter of free choice. It is what society and the state impose on you.

Yeah true, but as you know very well that B44itcoin is decentralized meaning no single entity OR an individual controls it but everyone does! This is where it gets very crazy and you should understand that it makes every one of us individual bank. There is no authority, you don't need permission to store, send, or receive, neither on the limits nor on the identity.

Coming to the competition, the above statement makes it clear, just like Bitcoin we have other coins too and thus they are getting accepted by different investors all around the world. There is no single reason not to do this because freedom was the first key to do all this and that's what you and me experiencing right now.

Yes... If there were only Bitcoin as an asset, yes people might be more likely to choose an asset like gold to invest in so there would be more gold investors than Bitcoin investors.
This is where we can distinguish the best crypto investments in the presence of altcoins.

I agree. Not many people know that it can be manipulated. They may assume the numbers seen on coinmarketcap or on coingecko are correct.

There would always be a competition on Bitcoin, irrespective of how good potential Bitcoin is, they can never convert all the investors, gone are those days when everyone wants to invest on Bitcoin as it was chipper then and there was a large number of investors coming in everyday but now the price has gotten to these extend most people began to loss interest because the majority investors prefer investing on a potential coins that has lower price in other to make good profit.

So, no matter how potential btc is, most investors will always choose more chipper coins because price fluctuations cannot easily affect them unlike btc, take for instance you invested $5k on Bitcoin at the price of $30k and based on how volatile it is and drop from $30k to $25k in the next morning, that means your account will be zero then till it comes back but other good chipper coins hardly move to that extent immediately instead it moves on a gradual process. that's my humble understanding.

Bitcoin is obviously the most valued cryptocurrency. Its undisputedly the best. Its not the only beneficial thing of its kind. Crypto games are never solo. An ever-growing ecosystem. Each alternative cryptocurrency is unique. Ethereum supports smart contracts. like Ripple. All of them are true crypto superstars.  Bitcoin isnt perfect. If Bitcoin was the only game in town, more people might join. Is that better? Doubtful. Trust, safety, and possibility build belief, not hegemony. Because of this, its easy to see why so many people have faith in Bitcoin.

There is no second best. Your Internet protocol is IPv4. https://whatismyipaddress.com/ Try its fee. IPv4 protocol of Internet as a network consensus is the best analogy for Bitcoin.

"chipper" shitcoins shitprotocols:
NetBIOS
IPX (Internetwork Packet Exchange)
AppleTalk
DECnet
Xerox Network Systems (XNS)
IPng (Internet Protocol Next Generation)
OSI (Open Systems Interconnection) protocols
NCP (Novell, Inc)
FidoNet
etc

The possibility of BTC being the only crypto is very wild as human habit are prone to competition in almost everything that is showing success and that has being the case of Bitcoin and every altcoin that in the crypto market as the success of Bitcoin has brought so many other crypto trying to simulate its peculiar decentralized nature but all have failed and that's why btc still top and has many investor holding it.

Bitcoin does not rely on investors, Bitcoin relies on its use-case staying relevant and for the ecosystem to have use-case. For as long as there are fiat currencies which continue to increase their monetary supply, the threat of an individual losing the value of their money by holding cash or local fiat will exist, and therefore fixed supply assets like Bitcoin will continue to increase in fiat value, people will continue to seek to use it both to store value.

Another use case is transfer-ability of money. As banking regulations and limitations continue to increase or as political tensions of countries increase, limitations are imposed on where people can send their money. There are also extensive fees to move fiat internationally. Bitcoin on the other hand, has cheaper fees and no limitation as to where you can send the money to.

Investors is also the wrong way to put what Bitcoin thrive on. Bitcoin thrives on users, not investors. The more people that use Bitcoin and have an interest in continuing to use it, the stronger the ecosystem becomes.

only bitcoin in the blockchain will not make bitcoin grow fast and bitcoin is not making any compensation with other or any altcoins or shitcoins in the blockchain, they are the people that are competing with bitcoin and along the line some of them collapsed while others are struggling to survive. But bitcoin is not struggling but it is growing to the development stage. Only one bank in the whole world? then we can't deposit and withdraw money again because the charges will be very high. In the Cryptocurrency world, when more coins have getting stronger, even bitcoin mining price and transaction price will come down. Because if bitcoin is a digital currency which is to pay things online, then the charging fee is too high for now when compare to Fiat banking system.

Bitcoin is not the first cryptocurrency to be created from what I read. There have been other cryptocurrencies before its introduction in 2009. Since it came into limelight it has stand the test of time and proven what a solid coin it is. Though, other altcoins such as ETH, USDT, BNB, MATIC, SOLANA etc. have surfaced over the years to bring about some kind of competition in the space, which it's a good challenge and might to some point reduce the number of Bitcoin investors but Bitcoin is not doing badly either. According to statistics, the number of Bitcoin investors is on exponential rise and it is believed to increase further in the coming years.

Competition indeed makes the market more colorful. At least people now have investment options. But what OP means is that everyone interested in cryptocurrencies would have had no option but to buy Bitcoin if it was the only coin in the market, I don't think his thoughts are wrong. He is just visualizing a crypto sector in which Bitcoin enjoys a full monopoly.


There are no restrictions for entry and exit of the cryptocurrency market, it is open to all investors. This has given rise to so many shitcoins flooding the market. For now, there are no regulations so Bitcoin cannot take all the market share. That's why people need to understand the market before investing. Most people don't know the difference between Bitcoin and altcoins so they are deceived by scammers to buy some worthless altcoins. As much as I know Bitcoin remains the number one coin because it has many features that make it outstanding in the crypto space.

There's truth is what you're saying. Altcoins have made the adoption of Bitcoin slower, but I don't believe it's because of there are many other altcoins to invest in. I believe it's because these altcoins bring very bad publicity to Bitcoin. Most people that have swore never to have anything to do with cryptocurrency is because they were scammed or lost money through an altcoin.

If Bitcoin was the only crypto currency, it would have grown way more than this. Altcoins are in a way a killer to Bitcoin.

I agree. The popularity of these altcoins have also increased the popularity of Bitcoin. A lot of people where introduced to a certain altcoin first when they were first introduced to crypto, but they know about Bitcoin in the process. You can't know crypto without knowing Bitcoin. Without the popularity of altcoins, Bitcoin won't be what it is today. I agree that there are disadvantages to altcoins but it also has it's advantages.
The more people involve in altcoin, the more Bitcoin becomes popular. This is because when compared to other altcoins, Bitcoin is better than the rest so it makes it superior, but if there was nothing to compare it to, it won't be seen as superior.

indeed, in this case there are always pros and cons, but I think we as investors in btc don't need to be afraid and worried because after all, btc will still have the potential to become crypto no. 1 for long term.

so I really agree with your opinion with altcoins, of course, there is a positive side for bitcoin.

Indeed, if we are confident enough in bitcoin that it is the best coin and there is no coin to match it, then there is no reason for us to worry or fear when there are more altcoins.  the appearance of many altcoins, but no coin has ever usurped bitcoin, affirming that bitcoin is unique and will always lead above all.  Thanks to fiat, shitcoins...we realize how good and superior bitcoin is.  we will never know what is true beauty without ugliness to compare. it would be boring if only bitcoin or everything became monopolistic in life.

I disagree with the op's idea that without altcoins, people would invest in Bitcoin more. If we look at the history of the market, there was a time of very few altcoins, and Bitcoin's market capitalization was very low at that point. Then more and more coins appeared, but Bitcoin remained #1 and continued to grow as well. I'm not saying that the growth of Bitcoin was caused by the growth of the altcoin market, but there's certainly a strong correlation there, at least. They fuelled each other, leading to higher demand for cryptos in general.