Bitcoin Forum

We know that the primary purpose why we even have anything like altcoin is because of Bitcoin and this has been fully reflected in the fact that when there is a major event that affects Bitcoin either positively or negatively, all altcoins and a bunch of meme coins feel the effect directly.

We also know that what makes Bitcoin relevant is firstly due to it decentralized nature and it ability to making  international transaction easier through the p2p concept and that Bitcoin has taken away the issues of unnecessary middle men and bunch of controls and regulations that's common with fiat or international banking systems and that the whole crypto ecosystem revolves around Bitcoin and that whatever project that has ever come up after Bitcoin have all been centered around modeling on the functionality of Bitcoin and maybe focused more on the volatility aspect of Bitcoin to attract individuals and investors to those crypto project while bitcoin in itself has all those qualities of volatility and provisions of the solution to international transactions that these altcoins hope to solve.

Again, Most of those who have had bad experiences in the crypto ecosystem are individuals who invested in some altcoins thinking it has the same potential as Bitcoin and the fact that it's always a norm in society to call Bitcoin one of the cryptocurrencies, it's no strange that altcoin might have played a great role in reducing the level of adoption of Bitcoin globally.

This begs the question, what if we had only Bitcoin? Wouldn't the level of adoption outgrow what it currently is at the moment?

Do you think that altcoin is a major distraction to bitcoins adoption?

People will not be exposed to altcoins if Bitcoin does not have a bull run, make noise and trigger a cryptocurrency market bull run. Altcoins depend on Bitcoin but because they are very scam, people who are firstly exposed to altcoins, invest in altcoins and lose money through altcoins, will not have good thinking about this market.

They will have wrong thinking about Bitcoin and think it is a scam but they must learn to differentiate between Bitcoin and altcoins. We can not stop altcoins and investors must prepare their knowledge to avoid scam in altcoins. Bitcoin has nothing to do with altcoins and what investors do.

Altcoins can not stop Bitcoin adoption growth, never can do it.

No, I don't think so, I would rather say that altcoins have helped the adoption level of Bitcoin greatly because if there were no altcoins at all, it would take more time for Bitcoin to spread around and it is altcoins that make Bitcoin look better because people compare altcoins with each other and also with Bitcoin, and when they find out which one is the best, which is Bitcoin, of course, they become more interested in Bitcoin after that.

One more significant thing that altcoins have done is that their teams and creators promote their coins and tokens which in return makes people investing in their projects turn back to Bitcoin eventually because once they get in the industry, they start looking here and there and doing their research, and their final destination becomes Bitcoin. So altcoins indirectly have supported the adoption of Bitcoin.

ITs not, if you consider the entire cryptocurrency market cap and the value of the market cap for bitcoin alone from there, you will deduce the fact that bitcoin has been the mainstream digital currency and what people actually want to have, only few are investing on alts with certain amount they believed they can afford to lose, everyone into cryptocurrency today would have heard about bitcoin and invested before going into any other crypto, in which they would have understand what is at stake, bitcoin is decentralized while other altcoins are mostly centralized.

The attention would definitely be focused primarily towards bitcoin only and we would finally prevent misinformation from spreading.

Although I doubt that there would be totally no misinformation left even without the presence of altcoins. I am sure that many people are still going to make the wrong choice and would lose some money into bitcoin and then complain that bitcoin is a scam.

No it's not a distraction, for some people altcoins existence is a blessing, they are able to get their hands on Bitcoin because of altcoins.

The last person that I introduced to crypto claimed that Bitcoin was too costly for him, so he went for altcoin and when he started making some good money he started using the profits to buy back some Bitcoin.

He understand that Bitcoin is much more reliable than altcoins but altcoins have some nasty opportunities to bring some good amount of ROI faster than Bitcoin, you just have to be smart to make this work.

Altcoins is the most risky play but it has the higher return on investment opportunities if you know how to play this out, but still I will advice people to focus on Bitcoin as their main target.

I know you probably think that if we only had bitcoin it would be a good thing but actually there would still be some consequences that would make us, investors, suffer.

First of all without altcoins we would never be able to experiment with new technologies we can implement within the bitcoin system that could potentially save bitcoin from any failure problems.

Second without altcoins yes all eyes would be on bitcoin which you might think is a good thing but if there’s no any alternative then all investors would be cramped into bitcoin making the mempool as congested beyond your imagination.

And because we can’t successfully test out any scalability issue without risking damaging bitcoin by implementing it right away then we might never find the answer to the problem at all.

There is a unique nature in bitcoin which assuming there was no altcoins, people wouldn't have seen that uniqueness, and that is the decentralized system. Also these altcoins would not have survived assuming bitcoin does not exist. This is because most of them duplicated bitcoin for their own selfish purposes, and that is why you see that they keep it centralized so that the coin can be manipulated by the dev at anytime.

Nobody created any altcoin to solve financial problems and to also give financial freedom to man. Those potentials made the value of bitcoin start increasing, and altcoin dev jump into creating all sort of shitcoins, which was an eye opener to people that altcoins are used to scam people of their money due to pump and dump. After so many investors lost to altcoin, because they think that all cryptocurrency are the same. It was then they realized that bitcoin is different and can be trusted if you invest in it for a long term. Altcoin made bitcoin to be more popular.

I don't think its really a distraction since altcoins can also help people to be aware the existence of bitcoin. There are new people that has been introduce to invest on altcoins by some people they meet on internet or maybe even in real life and provably on the way for trying to earn some profit from their investments they know that bitcoin is at the top of the chain on cryptocurrency and for sure with that they would do a research to know more about bitcoin.

If your concern is they might get discourage if this people will get scam by scam altcoins then provably that's the case if the person is not really interested on cryptocurrency. But if they want to try other crypto then for sure they would start to learn on how to invest their time and money on bitcoin.

If only bitcoin existed, its popularity could be higher than it is now. Numerous altcoins, which often attempt to reproduce or improve certain aspects of Bitcoin technology, can confuse or weaken the attention of potential users and investors. Thus, the presence of altcoins can be seen as a competing factor that may be hindering the introduction of Bitcoin, rather than supporting the cryptocurrency ecosystem as a whole.

To me, it sounds like you want to blame altcoins just because bitcoin adoption is not what you expected. It's like when you start a business but the business isn't what you expected and you start blaming the stores around you that are competing with you. That only shows your weakness and failure and only knows how to blame others instead of admitting your own fault.

For me, I don't see any influence or connection between altcoins and global bitcoin adoption. I think if bitcoin really meets people's needs and desires, they will choose bitcoin, but if it doesn't have what people need, it's understandable that it won't be popular. But I see that bitcoin adoption is progressing very well and quickly, not stagnant or slow like you think.

Of course it is a distraction and I don't know how so many people don't see it that way. If there were only bitcoin, the market cap and price would probably double, as the market cap of all altcoins is about $1.2T, the same as that of bitcoin.


Sure, that's why there's the tiny figure of $1.2T tucked into the altcoin market, isn't it?

That's just your thought, the reality it's the other way around.

If they know Bitcoin, they invest it and they feel they didn't make a lot compared to altcoins, they will try to invest in altcoins.

If they now altcoins, they invest it, they will keep invest in altcoins because they like to flip their money.

People choose to invest in Bitcoin when they get scammed in altcoins or they listen to their so called financial advisor.

I sincerely don't believe cause people will always make their choice different from others, bitcoin adoption will increase with or without altcoins. Nowadays people still dislike bitcoin so if I'm not mistaken op is trying to say people who don't like bitcoin is as a result of altcoins. In the investing aspect investors choose to invest in both bitcoin and altcoins mostly bitcoin, let's be realistic bitcoin is the center of attraction and as a center of attraction bitcoin should not be compared with altcoins

When something is referred as a distraction just as op made mentioned of altcoins standing as a distraction it simply means altcoin is the center of attraction and I disagree. People who actually run after altcoins know the entanglement and benefit involved so I see no excuse blaming altcoin projects using the name of bitcoin, firstly bitcoin is a top choice, totally different from other altcoins. Bitcoin adoption is okay from my opinion and I don't understand why altcoins will stand as a distraction cause there's no distraction at the first place.

maybe you're just making a vague statement here and aren't getting the point so well. I'm never trying to make any comparison between Bitcoin and any other altcoin cause in the first place thier isn't any comparison at all. Bitcoin had an ATH of $73k that's obviously 7× what any altcoin have ever attained and even the few ones that gained value over time all went up under the shades of Bitcoin. What I'm talking about is that because of the way the society mistake Bitcoin as just one of the cryptocurrency, whenever someone invest in an altcoin that fails with time, it somehow sends a wrong signal to the whole crypto ecosystem and you have different people that wouldn't even dream of investing into Bitcoin because they know someone that lost his investment in a shit project and thereby drawing the conclusion that Bitcoin is same as those altcoins. Some even make the mistake of holding on to altcoins that can't stand the test of time thinking that by so doing, they will be able have similar worth that comes from investing in Bitcoin.

It's never a shift of blame of any sort but just a statement of fact that altcoin in one way or the other is a distraction to Bitcoin adoption in some sense.

Actually, not all altcoins follow the price movements of Bitcoin. There are plenty at any moment that have their own things going on. Those are often coins that have a relatively low market capitalization and are being pumped or dumped. If you want to look at them, you can sort coins on a website like Coingecko by price change over 24 hours and over 7 days.
As for altcoins being a distraction, I'm not so sure. On the one hand, I think that the vast majority of altcoins are just rubbish. On the other hand, I guess thinking about Bitcoin and altcoins in that context is a zero-sum mindset (one's loss is another one's gain and vice versa), whereas I'm more supportive of a positive-sum mindset (we can all have gains). I honestly don't think that Bitcoin would've been doing better if there were no altcoins.

I think the word popularity shouldn’t be used there because bitcoin on its own is already popular and sits alongside the general word cryptocurrency, if cryptocurrency is mentioned bitcoin is the next thing said close to it. The term to be used will be adoption, I think the adoption rate of bitcoin will maybe increase because many people wouldn’t jump into buying of this Altcoins. If you check the total market of cryptocurrency you will see that Altcoins take half of the which is still a large number if you ask me. Without them the market cap of bitcoin might increases.

But it still seems a bit tricky to say that people that invested in Altcoins today will have moved to bitcoin if they weren’t any altcoin because some will have totally opted out of cryptocurrency at large. If you look at how people treat this Altcoins you find out that it is treated as a get rich quick scheme and since they might know that bitcoin wouldn’t give them such feature they would rather not invest into it. So I will rather say the true bitcoin investors are already in bitcoin and altcoin isn’t like a distraction, only the few are distracted

I think that altcoins are an obstacle for bitcoin's adoption.

Here is my view. Bitcoin was a significant computing breakthrough in computer sciences to solve the “double-spending” problem in distributed systems. Real breakthrough ideas in computing are rare, I would say they happen once in a decade. 
Altcoins are mostly derived from Bitcoin's code, but with some changes or additions that claim to enhance its functionality or performance. However, most of these changes are either needless, untested, or harmful to the security and decentralization of the network.

Altcoins also create confusion and divert the attention and resources of others from the real innovation of Bitcoin. Instead of concentrating on the adoption and improvement of Bitcoin, which has the most reliable and proven network, altcoins mislead users and investors with false claims and hype, this is not my opinion, it is based on facts.

In software engineering, I appreciate the Layered architecture style (system is organized as a series of layers that are seen as stacked on one another like TCP/IP stack)  So rather than being sidetracked by the “new” get rich quick innovative yada yada yada blockchain.. people could work on projects higher up in the layer projects like LN, Nostr, BitVM, etc.

BTC>

Fact is that, bitcoin will not be the only crypto coin in the industry because, as bitcoin serves as an alternative to the fiat currency, so are altcoin aimed at serving as alternative to bitcoin.


What I see is that altcoin will only improve the scalabilty of the cryptocurrency industry so for that we are free to welcome coins that serves as an alternative to bitcoin.

No way, I don't think so. There was a need of Altcoin and if Bitcoin would have provided everything then no one would opt for Altcoin. I want to share some bitter pills like what would you have done in order to transfer smaller amount of there were no Altcoins? Would you have paid more transaction fee than the actual amount itself while transacting in Bitcoin ? Would you have always waited for long time for transaction with Bitcoin  had there been no Altcoin with lightening speed transfer speed.

Every good innovations always have other developments built around it. That doesn't mean that the those other developments built around it will hinder or overshadow the main innovation. I don't think altcoins are hindering bitcoin adoption. With the years bitcoin has stayed and the level of adoption it has gotten is still encouraging. Bitcoin is doing well on it's own. Bitcoin is something that came out and disrupted the traditional ways of doing things in the past, don't expect it to be accepted with open arms without facing some resistance and setbacks. These resistance and setbacks were what hindered the adoption of bitcoin and not altcoins. But despite that, I think bitcoin has continue to spread and adoption is increasing yearly.

Distraction depends on people’s nature. Many people fall for these altcoins due to the quick returns they will get in short period of investment. But they are overlooking the fact that, with quick and huge profits, the risk associated is also very large. Hence, after they facing huge losses, they come back to Bitcoins only. On the other hand, there are some people who really know the importance of Bitcoins. Hence they always back the coins and do investment in it only.

I get what you're trying to say besides you've listed out the features of bitcoin including the ATH. We still have people like this in our society and I can relate with similar issue when it comes to the internet, for example people make use of the internet everyday for different purpose like scam, acquire knowledge etc. Even if a lot of people get scammed using the internet people will still make use of the internet regardless like you'll definitely see massive numbers of internet users. People who experience such situation like scam can still decide never to make use of the internet, you made mentioned of altcoins and bitcoin so I'm trying to understand with what I've seen. Mistaking both bitcoin and altcoins can be done by newly investors but there's always room for learning, if people with this impression can learn and differentiate both investment choice I see no problem. From the past to present bitcoin adoption keeps increasing and increasing. Altcoins can't distract the growth of bitcoin adoption as seen currently, if you actually feel bitcoin adoption rate is low then that's your opinion. The creation of different kinds of Altcoins will still increase so it's best we accept the fact

It's actually a healthy competition in terms of investments between Altcoins and Bitcoin but since when it comes to the word "distraction" based on my understanding I think it is for some factors like the prices, the chances of getting doubled the profit or more I some sort of personal preferences when it comes to our personal choice but sooner or later we can see Altcoin profits well then converted to Bitcoin so it's a win/win situation for both holders IMO.

Adoptionwise it goes like this:

People wanna make money quick, find a project, get scammed.
Find another crypto project, get scammed a couple times more.
Then find bitcoin, learn about it, and have their heureka moment.
Once you truly understand bitcoin, you'll never wanna gamble with dogwifhat and luna again.

I don't believe altcoin would be a distraction for Bitcoin adaptation. Bitcoin has become more popular due to altcoins. If there weren't altcoins, then how could we judge Bitcoin as the top and mother coin? Honestly, all the altcoins aren't just shitcoins. Like Ethereum doing very good after Bitcoin. So we can say altcoins are helping Bitcoin adapt. Nowadays, altcoin trading pairs have been adding Bitcoin; it does give more popularity to Bitcoin and prove as a mother coin. 

In my opinion, it's probably a yes or no because no one would have known if Bitcoin adoption and value would have gone far beyond what it is now, we can only speculate on that. I don't think altcoins are a distraction to Bitcoin because everyone has the choice of which crypto asset they want to invest in. Despite the fact that there are many altcoins, Bitcoin still has the highest market cap. Some investors don't just like to have all their money on one coin, so even if Bitcoin were the only crypto, investors would still have their diversification on other assets so that they don't have all their investment only on Bitcoin. With the value of Bitcoin today and the rate of adoption, Bitcoin is not doing bad at all, despite the fact that it is not even 20 years old yet. But its value and adoption seem to have been existing for more than 50 years. 

Well if you are of the wrong orientation then Bitcoin too can cause you losses because some many who also did invested in Bitcoin made the investment through wrong reasons and that's why they end up selling the Bitcoin especially when the price starts to dip and this is the basic cause of many failure too to altcoin investment. We all know that there is a major bull and dip season after this halving has past and believe alot of persons will still make mistake with their investment in Bitcoin.

I'd say YES because people have their choice and possible we know that Bitcoin is the most promising and useful project among cryptocurrencies. The slow adoption comes from the lack of trust and with the government issues (strict implementation), not because of altcoins.
Maybe, if you are talking about investment, it seems to be right that altcoins ruin the market reputation due to scam issues which make people think that investing in cryptocurrencies is too risky and high chance of losing. These things losing the interest of the people, plus the manipulating factor of FOMO and FUDs that certainly affect our mindset.

IMO it is the opposite where Altcoins provide more space for bitcoin growth in the end. Even though sometimes there are some projects that actually make the image of crypto damaged because of some project schemes that are sometimes aggressive and seem to be fraud, in the end the presence of altcoins actually encourages bitcoin's growth to be greater.

We must be aware that everything that happens to bitcoin and all the comparisons they have must be a situation where the same project can be a comparison and we will not consider bitcoin good if in the end there is no altcoin as a comparison because however bitcoin will not be recognised that they are the king if there is no altcoin as a comparison so that in this case the presence of altcoin actually becomes a new force that makes bitcoin growth even better both in terms of value and our view of bitcoin itself.

This time around, so many investors are looking for any small investment that can give them an impressive profit and many other investors are also looking for a short term investment that can give them a very quick profit. Altcoins stands as a window for those investors in search of quick profit, since Bitcoin doesn't stand the chance to give them a very short term profit as per their demand, they fine altcoins as their alternative. It doesn't even seem good in my eyes to have only had Bitcoin as the only crypto. Investors need to lose their money in crypto to attract more attention to the industry and altcoins is making it possible for investors to loss money and at the end, they switch from altcoins to Bitcoin.

Nope its not, its better to have it rather than on nothing at all.  ;D

Also, there's no way that you could really be able to stop into those developers that would really be creating out some new projects which would really be surpassing Bitcoin
and this is why its not really shocking that they will really be having that kind of pursue that they should really be making something more better.

It might really be able to share or get a portion of overall market dominance but still it is something inevitable that new projects would really be emerging in the market.
The good thing on here is that Bitcoin would really be that still sitting in the top of the ranking as this one would really be getting more demand in compared
into those projects or altcoins in the market.

It is quite understanding that without the existence of Bitcoin what coins cannot exist and from my own angle of understanding and my perspective I called altcoins a sub bitcoins because without the existence of bitcoin this coins can not exist and that is why  the price of bitcoin regulate the price of altcoins, so altcoins make a positive through bitcoin so I know that bitcoin is something that has to do price increment and decrement and that controls altcoins which some people does not know.

Some Altcoins have been invented to try to make a better Bitcoin.  But the Altcoins which ACTUALLY try to do something better are extremely few.  The rest, which is probably over 99.9 percent of them, are Shit Coins created strictly for profits, Pump and Dump schemes, Scams et cetera.  They are created for business or fraud.

Of course.  Altcoins are kind of a distraction to the Bitcoin adoption if you will.  Many people purchase Altcoins because 'they can not afford a Bitcoin' or other stupid reasons such as trying to get Rich quickly.  So they end up purchasing a Shit Coin, getting scammed big time, the Scammer will probably lose their money at some point too and there goes exactly nothing.

The more Shit Coins rose, the less percentage of adoption Bitcoin had.  Which clearly shows the same thing.  Bitcoin is often losing significant 'power' to Shit Coins that should not even exist in the first place.  And by 'power' I mean money that could of been in the actual Cryptocurrency that is legitimate and shows an amazing history too.  Bitcoin.

But you can try to convince every body about it, it is going to be in vain.  These fools will continue to invest significant money into what later turns out to be a big Scam.  They never learn their lesson.  OP, you seem to be woken up to reality.  Awesome.  Keep investing in Bitcoin and by the time MANY more people realize this, you will be a thousand steps ahead of them already and you will be riding the waves.

I love both BTC and altcoins, I think both are important for the development of the crypto market and blockchain technology.

Thanks to altcoins, new technologies are being applied and people are more interested in blockchain, which in turn leads to them learning about crypto and BTC.

Thanks to memecoins, the investment field has become more fun and approachable, which in turn has brought us millions of potential crypto investors.

Thanks to altseason, the crypto market has become more vibrant and promising, which in turn has led to BTC being more considered and accepted by large companies or corporations.

Altcoins are a necessary addition to the crypto market and they also help to make BTC's price rally more sustainable as money can flow multiple times between BTC and altcoins instead of creating a bubble and then quickly collapsing each season.

Do you know a lot of stores that accept altcoins but not BTC? Because I don't, if someone accepts crypto payments, it's Bitcoin first and altcoins second. And I'm pretty sure that if the merchants that accept crypto published statistics of transction volumes, Bitcoin would be on the first place.

So really altcoins only take a small share of Bitcoin's adoption. Their main use case is high risk speculative trading, not being used as a money or a store of value.

I think if we had only Bitcoin, it would have probably sank or crashed by now, no matter how promising it was at the beginning.
One reason it has survived this long and is still growing despite the cases against it, and among the back drop of other things that has happened till date is that, another Crypto currency will take its place and function on the decentralized network as well, incase the government had decided to  shut it down and despite any much effort from people who don't want Bitcoin to thrive, while thinking that the idea of crypto currency is only limited to Bitcoin.

I also think that altcoins do more to publicize cryptocurrency and also indirectly help to announce the success of Bitcoin as the first and leading cryptocurrency in the world.
It's called Altcoin because, it is an alternative to the original idea of Crypto currency, just as the name sounds.

True, if the first thing that will be accepted and adopted that is bitcoin because that is the first and the most powerful and trusted crypto currency right now in the market, yes there is some altcoins that is also trusted like ETH and etc but the thing is there will be no altcoins if bitcoin doesn't exist, so I think altcoins nothing to do with the adaptation and acceptation of bitcoin, in fact altcoins are a very good alternative in order to earn especially those who doesn't have enough funds or money to start with bitcoin, with airdrops that is being hosted by different altcoins a person could earn from it, so I think altcoins is also a good crypto currency in a sense that it can be an alternative to bitcoin, but also do mind the risk of altcoin as you might stumble to a scam or a not trusted altcoins.

"Isn't Apple a distraction to Microsoft Windows adoption?"

"Isn't Unix a distraction to IBM mainframe adoption?"

"Isn't Bitcoin a distraction to PayPal adoption?"

I could go on and on. Imagining the current top dog in technology is going to stay that way "forever" is the height of foolishness.

And if you want to make +20% on your investment in the next few years, then maybe Bitcoin could do it. If you want to make 10x or 100x on an investment, it will need to be a new technology that most people don't consider mainstream yet. There's room for both.

First of all, we know that altcoins and meme coins respects the activities of Bitcoin in the crypto market but it is not all because there are some times when Bitcoin becomes all green (increases ) but some other altcoins and meme coins becomes reddish (decreases) so bitcoin is independent on it's own and most of the time, it influences the outcome of other coin but there are some altcoins that are not influenced by Bitcoin.

Altcoins didn't reduce adoption of Bitcoin in any way because if you check carefully, how many altcoins apart from ETH that has been in major competition with Bitcoin yet Bitcoin still remains the top cryptocurrency for a very long time now, so you can see that the presence of altcoins didn't affect adoption of Bitcoin at all.

In every project, there most be competitors so this competitors literally gives more recognition to the one that is superior because investors like making comparison to know the right cryptocurrency to invest in so when they invest in altcoins and Bitcoins, they dual the difference and know that Bitcoin is more reliable perhaps they give it more value and invest more on it that is why the value increases and the price begins to skyrocket.

Bitcoin would not have had much value if not for altcoins and moreover, every one cannot invest in same project that is why we have altcoins.

No no, not are all like I said previously, the introduction of altcoins is what gave Bitcoin more hype and increase in it's adoption because when you compare Bitcoin and altcoins more especially the volatility of Bitcoin attracts more investors to it.

That is the price of freedom, don't many people want to be free, to not be controlled? Everyone wants to avoid taxes, everyone doesn't want to be managed by the government, but when they are cheated, they always want the government to protect them, LOL. What's even more ridiculous is that many greedy people, despite the risks, invest in projects that promise high profits and then get scammed, but never admit their mistakes and blame those projects is a scam. Why don't you ask them, if they are not greedy and do not participate in those projects, who can scam them?

Many people lack knowledge, invest in bitcoin and lose money, then they call bitcoin a scam. So do you think it's their fault or bitcoin's fault?

Tell that to users of centralized exchanges with mandatory KYC verification, who voluntarily agree to the presence of these intermediaries who cooperate with regulators.

There are also plenty of people with negative experience of investing in BTC and there can be many reasons for this, but most often it’s the investor himself who failed to use this financial instrument in a way beneficial to himself.

Now we have not only one bitcoin, but thousands of unnecessary shitcoins (which will multiply). That's how it happened.

In part, this is exactly what happens, because shitcoins take over part of the BTC capitalization, which gets stuck in useless projects and fraudulent owners.

Bitcoin is the original, altcoins are alternative solutions to the problem that people think that bitcoin can't solve or can be solved differently. The existence of altcoin is good because it offers decentralization in cryptocurrencies. By having altcoins, cryptocurrency users are not forced to use only Bitcoin, we have different options with their pros and cons. I personally think that it doesn't affect Bitcoin's adoption.

If we speak about pure P2P interaction, then we shouldn't blame coin's price pump and dump. If P2P transactions matter for you, don't invest, just buy a coin when you want to make P2P transaction.
When Bitcoin transaction fee is some dollars and the altcoin transaction fee is almost 0 cents, you can't blame altcoins for low Bitcoin adoption.

It's practical true that bitcoin has created an easy flow of recognitions and adoptions of all cryptocoins with the fact that it's the first invented cryptocurrency and has also had great and transparent projected potentials which the AltCoins has emerged to be imitated.
Obviously these AltCoins has been indefinite to meet up with an equal potentials such as the bitcoin could posses but unfortunate that some individuals who're unknowledge in differentiating between bitcoins and AltCoins are chances to have their funds invested on the AltCoins with an intention of Investing on bitcoin.
So right there I'd agree with you Op that on the other way that has been a distraction to bitcoin surging to a greater volume of adoption.
But on a Contrary Op, I'd tell you that the series of challenges which the AltCoins has caused to bitcoin really brought about competitions in the crypto industries which has also contributed to the wider spread awareness of crypto currencies due to their miners and developers in both speculations and hypes based on their individuals.
The series of competitions has actually made investors to understand that bitcoin is the right crytop currency which one can reliably invest their funds on.
And you must remember that where there's much competitions would also attract more attentions of the people in the society.
So, the nature of numerous AltCoins in speculations is also taking along the awareness of bitcoin which World of today is based on research and everyone so much believes on the first technology among other similar ones to be the authentic modern development. For that as it stance, AltCoins is also promoting the adoption of bitcoin in some certain estimate.

It was not the altcoin or Bitcoin but what makes the adoption slower than what we expect is that many are still innocent and uneducated. We can't urge people to adopt when in the first place, they don't have the right knowledge about cryptocurrency in general. We can't influence them to use crypto when they don't know how to use them. In fact, even just a simple investing (buy and sell), they still commit mistakes and fall into scammers.

That is why adoption will take time to develop because trust can't be instantly acquired when doubts and innocence are in our minds.

The straight answer is a no. Altcoins does not stop Bitcoin adoption in anyway and I believe Bitcoin adoption is not matured yet as the process is ongoing and will eventually happen. We must appreciate the progress Bitcoin have made so far such as the ETF approval, Bitcoin being listed in NY Stock exchange (https://www.treasurers.org/hub/treasurer-magazine/nyse-launches-bitcoin-index) and not forgetting the widespread acceptance that Bitcoin is enjoying now. It is a matter of time before Bitcoin is finally adopted in the mainstream meanwhile altcoins does not have a part to play in all these.

Actually, I don't see it that way. I'm quite aware that there are good altcoins but if Bitcoin was the only cryptocurrency there won't be any scam and perhaps the adoption would have increase. Some persons who got introduced into the space invested in the wrong projects and after getting punched in the face, I believe such persons would convince anyone that comes his or her way not to invest in Bitcoin because he would think bitcoin is also a scam. It's just few of them that after such sad experiences would go back, research and get onboard.

I believe the adoption rate of bitcoin is not that high because aside that majority are still clueless about it, the government itself is not even supporting bitcoin and continue to discourage the people not to fall on its trap. So it’s not those altcoins that are distracting bitcoin adoption, but it’s more on the people’s perception towards bitcoin.

However, with the help of social media, the people are now slowly grasping the idea of bitcoin with the help of crypto influencers. Unfortunately, majority of these crypto influencers are feeding the wrong information instead of educating the people and open their eyes to the reality of bitcoin.

I am of the opinion that, had it been that Bitcoin was the only cryptocurrency, it would have been harder to gain even up to the number of investors it has now, because the risk of it crashing would have been way higher, the blockchain would have been used for other projects that may be too advanced for many humans and the cases it would have battled from government would have probably discouraged even the brains behind the BTC idea to pack up shop and disappear.


The competitive environment that the Blockchain network has enabled for crypto currencies to thrive on, has more than made people have a better perspective on why Bitcoin is, and remains the best crypto currency among others, upon a conclusive research.

That is the most decieving thoughts of some investors, thanking altcoins or the entire cryptocurrency as a quick profits scheme, and most of those teams already understood such investors thought's that is why their develop loads of coins all for just short terms base and only market forces becomes the hypes and baseless promises of huge returns.


That the reasons why many of those coins have failed to perform, such in a way that only the developer (Dev) gains for such a project and all investors will lose if the failed to pull out they money on time.

Many users linking altcoins as scam, which is true.

But most people who own Bitcoin are hold their coins on centralized sites, whether it's exchange, lending etc that gives them a way to generate more coins i.e. staking. So even there are not altcoins, people would still call Bitcoin is scam when they lost their coins on centralized sites.

Lack of education and government are two big reasons that distract to Bitcoin adoption, not altcoins.

Well, they are not really making any changes for bitcoins and the evidence for that is the price of bitcoins itself because it hasn't been overcome by any other cryptocurrencies available right now and it has remained on the top for more than a decade and continuously dominant others due to the fact of its being decentralized and also its popularity among the crypto enthusiast and the crypto investors. The only problem here is the shitcoins that have nothing to do with bitcoins because they were just created for fooling newbies and taking away their money from them in the name of new altcoins investment opportunities, if we could only get rid of those, surely altcoins will be more a push-forward thing for bitcoins today.

Altcoins can never be a limitation to the adoption of bitcoin.  People who invest or trade altcoins are very aware that altcoins are not reliable and they are coins with no good value but because people are greedy they are ready to take risk to see if money can be made from these coins. People who invest and trade altcoins have bitcoin and they know very well bitcoin is the most reliable to have a cryptocurrency.  Altcoins are never problems to the adoption bitcoin because when you mention cryptocurrency to people that are not even familiar with cryptocurrency the first coin that comes from their mind is bitcoin. 

Bitcoin is the first thing that comes from the mind of people when cryptocurrency is mention, it has been existing long before altcoins. The quality of bitcoin is enough for people to go for bitcoin.

Altcoins also helped for people to get into the crypto market, for example the craze on meme coins brought more new people in to the crypto investments for the right or wrong reasons.

If we have only bitcoin then it may over crowd the network if every crypto user is using it which makes it not really possible to use by everyone and also having one of its kind will be easier for the governments to suppress its adoption in one or other way.

Since we have thousands of cryptos there is no possibility of controlling especially bitcoin can maintain its actual decentralized naturee.

In my opinion probably not at all, since there are all cryptocurrencies, for sure These altcoins are just a copy of Bitcoin at some point, I mean most of them to exist as a copy of Bitcoin just to replicate what Bitcoin did as a digital cash right, We could all see how Ethereum started but in the long run it started to have its own way on networks, etc. And most of the altcoins these days already have there own uses where it might probably be useful, for sure there are some exceptions to meme tokens which are mostly created just for memes but still most of the altcoins these days did make a huge impact on the cryptocurrency adaptation overall.

There is probably some truth to what you have said because there are thousands of altcoins out there in the market, most of them are just useless and dead tokens already that don't have any value at all if that's what we are going to talk about we could easily say that it is easily a distraction to Bitcoin as a cryptocurrency because there is a lot of money that is wasted on some scam projects out there, then turns out to be a dead project or dead token, instead of that money being invested to Bitcoin it was just wasted to these dead altcoins, but not really on how Bitcoin is being adapted because altcoins are a huge help since people are getting exposed to cryptocurrency which is going to include Bitcoin. I know a lot of people started their interest in altcoins, and there are also some on NFTs, etc., and learning how to trade and started investing in Bitcoin earning huge profits so on and so forth.

Not entirely. It may feel like "all the money that could have gone to bitcoin instead goes to altcoin" to people with straight up style of thinking, this is why I believe that most people are forgetting the fact that we are seeing most people who fear that they missed their chances on bitcoin, so they are investing into altcoin and wouldn't have invested into bitcoin at all if alts did not existed.

This is why I believe that people who do their best with altcoins are people who are doing their best, that's it. I think the greater return would be the fact that we are going to end up with a situation that could benefit them. Just ignore it all together and it could do very well. I personally hope for the best on the long run.

If there was only Bitcoin then people will focus more on it without searching about any other altcoins and then they will not be trapped into scam projects. I think nowadays everyone is trying to find out altcoins because they want quick profit but in the crypto market quick profit cannot be attainable with ease.

Because of the presence of scam projects people often worried about investment in all other altcoins as well as in Bitcoin so I think if there was only Bitcoin then people will be more focused on just a single investment asset instead of finding new opportunities in the crypto world.

Bitcoin is good without altcoins, and altcoins are definitely not a distraction to bitcoin’s adoption. Most probably, we are still seeing a late bitcoin adoption because the people are just starting to recognize bitcoin, it’s advantages and disadvantages. But we all know that the world is actually heading for its bitcoin global adoption slowly, until majority of the countries learn to accept and legalize bitcoin, and use it in their everyday life. I know bitcoin process is getting there, so we just have to be patient since bitcoin itself is still young and have not totally matured yet.

Not really no? A lot of crypto dudes entered the scene from altcoins really. Especially if you look into how NFT's and altcoins tied to crypto games exploded and a lot of new people were able to enter the scene through them. Granted not all of them stayed, but I reckon there's a good chunk in there that started learning and investing in Bitcoin. I reckon without altcoins (or at least, the idea of making your own crypto like Bitcoin), a lot of the current things we have right now wouldn't exist.

In the first place I wouldn't call altcoin a distraction, altcoins can basically be a promotion to Bitcoin really due to how most people would attribute the origin of most cryptos to Bitcoin. I wouldn't disagree that there are thousands of shitcoins out there though, but I reckon if companies were as easily made as cryptocurrencies, we'd have the same thousands of shit companies out there.

I don't think altcoins have reduced the level of adoption for bitcoin in any way, but as a distraction it has been a very good one that has swayed many into believing and even thinking that most crypto currency are scam and not good to invest in, and I would even say that its not worth it to invest in any other crypto currency other than bitcoin if you really want to invest and not gamble away with your funds.

Going back to the topic of discussion, I believe that altcoins are also playing a role in bring adoption to bitcoin, cause right now many that started put with some altcoins are now seeing clearly the need to participate in investing in bitcoin, the margin of superiority of bitcoin with other altcoins is now clearly seen. Some persons started out their investment or tried out crypto currency due to the hype of profit from one altcoin or the other, and even if it didn't turn out well, they now have an idea of what crypto currency is all about.
Personal is started out my crypto journey from one altcoin which was tera luna, although it didn't turn our well for me, right now I'm investing in bitcoin cause I see light in it and this is same experience for many others  too.

In conclusion altcoin has played a role in both contributing in mass adoption for bitcoin as the real deal of the crypto space and also a distraction for those seeking quick profits in the crypto space. I believe its balanced.

Even if we have altcoins in the real crypto space, still bitcoin gains the highest attention that’s why we are looking forward for bitcoin to become mainstream in the future. Although some would still be attracted to altcoins most especially those who have limited funds, but that won’t stop the majority from trusting and sticking to bitcoin, not because it’s highly productive and profitable, but also because of its sustainability and high security in the market.

Sort of but I'll look at it in a good way.

Many of the inflows that are coming from the altcoins are also flowing to Bitcoin once the major investors and bagholders there started to take profits.

Typically, they are putting those in stable coins but then they're wise enough to keep themselves up by accumulating Bitcoins when it's on a sale and that's why if it's about a major distraction, I've said sort of but not as in a major distraction.

Let me add to what you have said. Something has to lose value for another to gain more value. Bitcoin was the first in existence in cryptocurrency, the purpose of altcoin is to show the world the importance of Bitcoin and that no altcoin can have a blockchain that can be compared to that of Bitcoin. Altcoins has shown its weakness and most of them have failed in terms of trust and transparency but Bitcoin has not (More than a decade without any news of scam or failure). If there were no altcoins most investors would not see the importance of investing in Bitcoin instead of investing in Shitcoins.

Without any other projects to compete with, we will never know how good bitcoin is, competition is necessary for the crypto industry to grow and get better. But there are some old-fashioned, stubborn people who believe that altcoins are hindering the development of bitcoin, but without altcoins, how do they know how good bitcoin is?
Additionally, diversity is essential for any sector to grow because without competition and more options, the market will not be able to attract more users and customers.

Indirectly true and on the other hand their presence is also recognized to be able to tempt investors, especially those who are new to turn their attention to them a little and another impact is that there is a slowdown in the movement of Bitcoin adoption rates globally because it makes their focus divided not only one coin but split into many other digital assets.

Although the real hope is to quickly get a profit whether they will go up 10x or not once they invest, but their presence also enlivens the growth of cryptocurrency adoption and the final message will come to their minds that the purest is BTC in the end. Yes and That's for Sure.

Any product will not get bigger if there are no other products to support it, and vice versa with bitcoin. The presence of altcoins in the industry made a big step in the trust for bitcoin, where people began to see the impact that bitcoin did not have on existing altcoins. Adoption occurs not because levels exceed, but because there is something more and people see bitcoin as a new hope amidst previously existing concepts that did not show freedom for someone to reach a stage of being more independent.

Personally, I don't see that altcoins are a big obstacle to bitcoin adoption. In fact, the presence of many altcoins makes this industry increasingly talked about, even though the effectiveness of altcoins has a big risk impact.

This scattered focus usually occurs among new investors who have not invested in crypto assets for a long time, because old investors who have often invested in crypto assets will definitely be more dominant in choosing Bitcoin and continue to focus on Bitcoin as a whole. more than for others. Even though in terms of seeking profits, it is not wrong to take advantage of other things, even if only for the short term, their concentration and capital will definitely flow more into Bitcoin because there are so many differences with other assets.

Everybody knows how important Bitcoin is compare to altcoins, and some choose to buy altcoins because they believe that they are earlier in alt than Bitcoin, some believe that altcoins will make them more money than holding Bitcoin, so they don't even bother to have some Bitcoin.

There are so many reasons why people will go for Bitcoin over altcoins and vice versa, I appreciate the existence of altcoins because I have made many returns investing in altcoins alone, more than Bitcoin returns itself, to me altcoins are not a distraction.

There are many alt that plan to take over bitcoin and they failed to deliver, many plan to be BTC 2.0 but they failed, its because Bitcoin is far better than any projects still, even when the altcoins have better features and more newer utilities, ROI wise is why I will always invest some money in altcoins, true be told, altcoins will always be better in terns of returns and Bitcoin will always be better in terms of reliability.

I think a large part of it (which happens with investing in general) is a combination of boredom and the urge to diversify, etc.

All you really need is BTC.

I'm not sure if there's any point in having such discussion as we not going to develop an alternative universe in which altcoins don't exist.
Bitcoin is here to stay and so are altcoins. There's not much anyone can do about it, other than maybe governments banning them.

That being said, you can't ignore the positive effects of having multiple cryptocurrencies in existence on Bitcoin. First of all we have huge crypto exchange market, and altcoins act as a testing ground for many solutions/features that (if successful) could be implemented in Bitcoin.


Good question. If everyone could only use Bitcoin, I think the network would either get completely clogged or it would have to evolve into something completely different. In the first scenario, Bitcoin would be deemed as a failure in terms of transferring value and could end up with less demand than it currently has.

Like many previous ETFs topics, people always question ETFs, some think it will have a negative impact on Bitcoin and don't like the appearance of ETFs...but the problem is we can't do anything to prevent it. So it really is a waste of time when we spend time talking about things we cannot change. And in my opinion, the existence of Altcoins will have a positive and negative impact on bitcoin, and what we need to do is adapt to it because we won't be able to do anything to change that even when we don't like it.

We would not know until we have only Bitcoin and see how the level of adopting grows. Altcoins have their roles they play in the market, without altcoin some people would not have known about cryptocurrency. It is because of the advertisement of altcoins that the market is growing in full force. Altcoins is a distraction for many people because if there was no altcoin everybody will be investing in Bitcoin but that would make Bitcoin to be all about the profits people can make and not as a currency that people can use. Altcoins are helping the market to make it more popular and in spite of all the altcoins in the market still Bitcoin has the biggest market cap and popularity. People know more about Bitcoin but sometimes they choose to try their luck with altcoin as it can give them more chances to make big gains.

If there were no altcoins, I think bitcoin will remain less competitive compared today. That’s actually the essence why a certain asset or coin needs to have a rival so that a competition will be formed, and when there’s a competition, one will try to improve more than the other so that people will start chasing for it. And that’s how bitcoin advantage was formed due to having altcoins in competition. With this, I guess I have to say that altcoins at some point even more fuel bitcoin adoption in the making.

No not at all, in life, if there are no competition, no matter how insignificant, we tend to relax and never do our best. Bitcoin is widely adopted today, not because it was the first crypto currency, there were at least two crypto currencies before its creation. Its dominance is based on its unique  features as a medium of payment and also an asset to mention but a few. These features and the consistency of the coin in experiencing a bull run after every halving makes people see it as a valid investment opportunity. No other crypto currency can boast of having such solid foundation.. I think altcoin makes bitcoin the hotcake it is now by introducing s slim competition in the  crypto world In fact, they lean on bitcoin in order to gain recognition

Take for example, whenever we're close to the next halving, many altcoins come into view and start gathering users by engaging them in free mining activities to launch within the halving period, most of them now use the halving approach to reduce supply. Bitcoin is a pace setter, it leads and others follow, so it wouldn't be out of place to call it the king of crypto currency.

It does not matter what we think because altcoins would have appeared sooner or later, that is just the nature of any market, if for example a movie studio created a very successful movie, you can be sure its competitors will do everything they can to release a similar movie as soon as possible and try to capture some of that audience, besides even if you are right that in a way shitcoins are a distraction and in some cases they are even causing havoc, the only ones affected are those that do not care about this market anyway, while people like us are basically unaffected by them as we not only care about the economic benefit we can get, but we also care about the technology and social impact bitcoin may have, making us basically immune to the majority of those useless coins.

No, i would say altcoins are necessary for the bitcoin adoption, they are not a wall, they are a bridge. Some altcoins offer better solutions than bitcoins like low fees or faster blocks, that's a need for the community nowadays because making bitcoin transactions isn't worth it if the amount is small.

And is good for the cryptos when the altcoins get bumped by famous, a good example of this is Elon bumping Dogecoin.

I stand on No, it isn't, as they say variety is the spice of life, it makes sense we have other Altcoin trying to compete with Bitcoin, or even coins that forked out of Bitcoin like BCH and BSV etc. With the existence of these coins alongside Bitcoin, rather it make its stand clear or tall among other coin, because without all those Altcoin we might not appreciate the real quality or value that Bitcoin has which makes it unique,  people tend to do better where there's competition, Therefore with other Altcoin in place, it's helping Bitcoin get better overtime if we talk about fastness, low transaction fees, it security etc.

That is very true! We need this comparison in order to appreciate what bitcoin has to offer. So even if we have thousands of alts created and still surviving today, we can say, bitcoin still is on top position among these cryptocurrencies. A lot have been trying to create a currency, which is "better" than btc, but up until now, nothing has come into fruition or no alt has surpassed the popularity of btc up until today. So for me, the presence of alts is not a distraction but people can clearly see the difference of why btc is still on top position and the adoption is continuously increasing.

I'm not against predicting or speculating on the impact of new things like ETFs could have on the price and Bitcoin as a whole. And I'm all in favour of trying to identify any future threats that ETFs or altcoins can pose to Bitcoin, so we can maybe act to prevent such etc. But asking whether Bitcoin would be better off if no altcoins ever existed is a pointless thought exercise at best with no value to it. Unless people get entertained by having such discussions, then it's OK I guess.

Yes, altcoin is a huge distraction and I’m talking about use case. Today we can see many altcoins being used for payments, etc, and they happen to be a lot of them. If they were not in existence and it was just Bitcoin, all of that usage will fall on Bitcoin instead and that means way more adoption than there is today.

But I’m not sure to say that it isn’t good altcoins were created. They are serving their individual unique purposes (even if I know that some are just unnecessary copycats)

I have to agree that majority of the shitcoins are a distraction to Bitcoin adoption, simply because people are diversifying to take advantage of the "too good to be true" kind of altcoins which basically are the new projects coming into the market. Those investment could've been put into bitcoin instead of those shitcoins.
However, I may make exceptions to those altcoins who really has an excellent use cases that helps bitcoin network prevent the traffic and getting those transactions with less priorities go through without the need to wait for a longer time to get confirmations, and that is by using the altcoin network to get their transactions done. Some altcoins/projects were designed to aid bitcoin's scalability problems. Though they may hinder bitcoin's adoption, but they are really great support on the network traffic.

If we are trying to blame altcoins then I think the government is thinking the same as us. If bitcoins are not created, if bitcoins do not exist. Then they won't spend much effort or time to ban it and everything will still be under their control. Many people wouldn't be able to evade taxes without bitcoin, and the government wouldn't have a hard time chasing criminals when they use bitcoin...Everything has its pros and cons, nothing is perfect, so if you encounter competition, don't just blame others.

Yeah. All of them are choices and we just have to determine which one we like the most to invest whether into BTC or other than BTC. Well. if we look more carefully, the confidence and confidence of investors and international markets are more inclined to coins that provide good returns and are able to predict BTC, for coins other than BTC is not absent, but the intensity of attention is very small if we look at the percentage.

Anyone can take advantage of price fluctuations from market corrections, but I personally like the more normal and less hopeful pinning on coins other than market-tested ones, this is due to the increasing adoption and acceptance of cryptocurrencies by large institutions and investors who consciously or unconsciously contribute to Bitcoin's legitimacy and long-term growth potential.

Who can guarantee that when altcoins didn't exist then Bitcoin would be as big as it is now and I'm not saying that altcoins affect Bitcoin's journey. The existence of altcoins gives more confidence to this industry so that every time people make decisions after making mistakes and in the end they will switch to Bitcoin. For me, altcoins are one way to switch to bitcoin because not everyone has the budget to buy so they have to look for alternatives first to make the final decision to buy bitcoin.

They have different goals, but in this industry the influence of each of Bitcoin and altcoins is greater. Many are imitators, but there are also those who go it alone with the ability to advance, but because most fail, people equate them all.

Altcoins are supposed to be competing with Bitcoin, and this is actually something good. Competition makes the market better. The freedom of choice also makes the market better. I know that most altcoins are shitcoins and meme coins, but you should think of it as the stock market. Most companies simply aren't that good and there are several companies, that are top tier. The same applies to Bitcoin and the altcoins.
If there was only Bitcoin, that would have been more like a monopoly over the crypto world. A monopoly is bad for the market, because it controls the markets and it doesn't strive to improve. You can't stop the developers from creating altcoins and meme coins and this is perfectly fine.

That's the main reason why I disagree with OP because I believe that cryptocurrency adoption eventually means bitcoin adoption because you will barely find people who know about cryptocurrencies whether meme coins, shit coins, or normal altcoins, it's not possible for them to not know about bitcoin because first of all, you can't be trading any other token and not notice Bitcoin no matter what exchange you are using unless it's some decentralized exchange just for altcoins but still, one will surely see it somewhere.

Secondly, a person who gets into the industry cannot stay away from news and stuff and when you check crypto-related news outlets and websites, you will surely find something about Bitcoin and once a person checks Bitcoin and finds out what it is, they can't stay away from it.

No I don't think alt coins are the main distraction for bitcoin adoption. It seems to me that shitcoin can be a major distraction for bitcoin adoption. Not all people have the same preferences and it is normal that everyone has different preferences.

Nowadays people like bitcoin as well as alt coins but most prefer to invest in bitcoin. It seems to me that alt coins also play a role in the market as many people would not know much about the cryptocurrency market without alt coins. However, many times people make a mistake comparing altcoins and bitcoins because the rise and fall of altcoins depends on bitcoin. Despite the fact that Bitcoin price is the highest in the cryptocurrency market, there are many people or investors who want to change their fortunes by investing in alt coins. In fact, nothing gets popular without competition, just like if there were no alt coins in the market, there would probably be no coin to compete with Bitcoin. As a result, Bitcoin would have been there, but Bitcoin would not have been so popular worldwide if there had not been altcoins.

One thing I noticed is that people who lost money with shitcoin will come back to bitcoin, people who have made big money from altcoin and then they also want to find safety and bitcoin is also the last stop of them. It can be seen that the existence of altcoins is not necessarily as bad or useless as many people say. Thanks to altcoins, many people have realized that bitcoin is the best coin, bitcoin is what they are looking for and it will be something for them to trust and continue to exist in this market.

So I also disagree with OP and some people who are talking bad about altcoins. They also have benefits and advantages, it's just that many people don't know how to take advantage of them and criticize them.

In my few years in the bitcoin/altcoin business, I have never thought that altcoins are a distraction from bitcoin. Because that is not what has been happening in the crypto market since 2017, honestly speaking.

Well, in fact, they are even helping each other because the popularity of bitcoin is accelerating due to altcoins. And bitcoin does the same because it pulls altcoins in popularity when it has a rally in the market.

I also don't object to people speculating or spending time discussing the negative impact of ETFs or altcoins because I can't stop people from doing that. What I'm saying is that it's a waste of time because we have no way to stop them even if they have a negative impact on bitcoin. Just like altcoins, as many people say it is negatively impacting bitcoin, what are you going to do to stop that? Do you have any way to stop the development and growth of ETH? Or BNB and even shitcoin? Is there any way to stop people from creating them every day? I prefer adaptation to resistance.

It could be the other way around, remember that 99% of altcoins have been traded to bitcoin. As far as bitcoin adoption goes, it's very different, you can check this report, The 2022 Global Crypto Adoption Index: Emerging Markets Lead in Grassroots Adoption, China Remains Active Despite Ban, and Crypto Fundamentals Appear Healthy. (https://www.chainalysis.com/blog/2022-global-crypto-adoption-index/) This report is 2022 though, so there could be changes, and before we forget we already have El Salvador, a country that has adopted Bitcoin already.

There could be altcoins that are important as bitcoin, but we all know that bitcoin is the prime mover and so it's on top and I don't see anyone can distract it. We've seen it from the beginning and even if there are solid altcoins and even gaining more that bitcoin in a bull run, still BTC remains the top crypto investment.

With my own observations, I don't like that altcoins are the major distraction for Bitcoin adoption. In fact, I see altcoins as the even major reason why Bitcoin adoption is growing. It is through the awareness of these altcoin projects that a lot of people even get to know more about Bitcoin. Some set of people are just hearing about Bitcoin over a long period of time, but they never take the time to do further research. But through this awareness of altcoins, some people further their research and discover that Bitcoin is the best coin that really deserves to be invested in. And that is how many diverted their investments to Bitcoin."

I understand what you’re saying and I agree because Bitcoin can’t succeed alone, people creating other coins shouldn’t be surprising. But despite your point, take a moment to imagine if Altcoins never came to existence, imagine how much adoption Bitcoin would have had. No matter what happens, we can’t change that altcoin exists, so it’s just a conversation that leaves you with thoughts and assumptions. And it isn’t necessarily blame.

     Maybe the shit coins that end up being scams are called distractions, but not all cryptocurrencies. It would be wrong to say that cryptocurrency is a distraction; in fact, because of altcoins, the recognition of Bitcoin has actually accelerated. Bitcoin wouldn't be popular if altcoins weren't popular; honestly, those are the facts that others here don't know.

     Especially in today's time when there are more opportunities in altcoins compared to Bitcoin, although I can't deny that there are more altcoins now, they are really quite high risk, so we must be wise in choosing if we are going to buy something as an asset and hold it.

Altcoins are for short-term earnings and targets while Bitcoin is for long-term. Our existence will always served as threatening value to the market. Perhaps we have a clear view of promising projects and never back down. Always been ready to grab opportunities which are numerous in the market. Bitcoin is no surprising project but have always been there but talking about altcoins, it's never something to get worry about because we'll definitely planned on utilizing golden opportunities in the system.

Altcoins serve as the biggest competitors for bitcoin, but if we analyze it closely, altcoins are somehow promoting bitcoin because once people experience losses with altcoins, the next thought will be they won’t no longer trust altcoins but will focus on bitcoin instead. So this is quite a blessing in disguise for bitcoin because without altcoins, people will not be drag into the crypto space to invest, so people have known bitcoin because they were disappointed with altcoins whom they trusted at first.

I genuinely want to hear the factors that make you think that Bitcoin wouldn’t be popular without Altcoins. I would agree if it was an altcoin that increased in value like Bitcoin, but no, Bitcoin itself increased greatly in price and people got interested and enthusiastic about it. While some people got interested based on the technology. So how did Altcoins come into the equation and make Bitcoin popular?

I somehow doubt that Bitcoin will have this level of propagation if altcoin does not exist.  Altcoin somehow helps in the adoption of Bitcoin because with the altcoin's marketing effort, they tend to carry Bitcoin in their marketing activities.  Besides most altcoins are paired with Bitcoin in trading platform.  This somehow gives extra exposure to Bitcoin.  Aside from that, not all who are in cryptocurrency tends to know Bitcoin first, there are people who happen to know altcoin first before they get to know Bitcoin.


I do not think that altcoin is a major distraction to Bitcoin adoption, if there is a major distraction, it is the government that forbids or bans Bitcoin.  Altcoin helps in Bitcoin propagation due to trading pairs and  a all altcoins are paired with Bitcoin on exchanges. Aside from that most of the altcoin marketing activities often mention Bitcoin as an example.   

To tell you the truth, a lot of people I know who's into crypto started with bitcoin only in mind. But after some time of holding bitcoins, they realized that it may not fit all of their 'needs' that's why they explored with other alts.

Even if there's only bitcoin as a sole cryptocurrency, people will always think of ways to improve on the current existing system. We will always try to fit everything with our use cases, and if it's something that doesn't fit the puzzle, we will try to create aomething that will help us achieve our goals. Altcoins are inevitable, given the nature of humans to explore and invent. Seeing that bitcoin is successful in one use case, it's only a matter of time before we encounter a blocker which leads to the development of another coin.

I'm pro bitcoin through and through but it isn't a one-size-fits-all solution to problems we never even know we have before. Altcoins, IMO, isn't a distraction, but rather a result of people looking to get the right piece to their own puzzles of problems.

As the name implies,its an alternative coin,and it most times serves as an alternative choice to bitcoin.People prefer altcoin to bitcoin hoping that they'll attain and achieve what was difficult with bitcoin.Initially,altcoins are cryptocurrencies that are not bitcoin,so it difficult to describe and determine which of them is a trustworthy network since they're invented for special purposes and that's why people misunderstand the usage,function and importance.
Additionally,they use altcoin based on the beliefs and attempts to improve on bitcoins limitations.

But what problem do altcoins solve for those people? I am also investing in altcoins but I will say frankly that altcoins have no use. People who are investing in it just want to get rich quickly, high profits, nothing more and nothing less. Meanwhile, bitcoin can solve a lot of problems because the original purpose of bitcoin is to create a decentralized currency, not a bump and dump project like altcoins. But I will agree with you that altcoins are inevitable because our world has never stopped evolving, we cannot stop them.

That is what is going on, I agree that some altcoins are giving a bad reputation to the crypto industry because of the scam scandals surrounding it. But we cannot deny the role altcoins play in trying to attract new participants to the market. Just like the bull season, if there are no projects that generate x100, x1000 profits, not too many people will pay attention to the market. Many people have never even known about bitcoin but they are attracted to meme projects because of their huge profits, then they join the market and know about bitcoin.

As a long-time investor in the market, everyone knows about the positive and negative effects that Altcoin brings. But many people reject altcoins because they are bitcoin maximalists. They feel bitcoin is gradually being overshadowed by the emergence of altcoins, so they will never accept altcoins under any circumstances.

I wasn't expecting that people would think in such a way, altcoins are expected just because of the wide Bitcoin adoption and community, most people recognize the crypto market with Bitcoin and that's a fact as well, the concept of one will make the market oversaturated. Most people who recognize any altcoin also recognize Bitcoin.

Hmm, I've seen many comments that altcoins are shit and blah blah, I would say a few words on it, Bitcoin is a mature cryptocurrency and the reliability level with the capital and dominance in the market is not comparable not even in the near future, but now cryptocurrency is not only to trade but also make money, etc, Now there many other sides directly connected with this market, in this cycle we'll explore many other sides as well.

Altcoins can never become a distraction to bitcoin, because bitcoin and altcoins are not the same they are in the different path and they don't have the same function, many altcoins are made because of the bitcoin and we can choose a different altcoins to buy and hold together with btc so there is no distractions at all because we can hold both of them.

Some bitcoin enthusiasts might be a tad bit aggressive as they think that the only coin nay currency that we will ever need is bitcoin but that seems too much because we have to be honest and say that not everyone is satisfied with how bitcoin works even though it is the top best cryptocurrency right now.

I don’t really see anything wrong with not using bitcoin for specific reasons.


I know it’s still long but bitcoin will not be always the best and most functional currency in crypto but it is marking its own right now and for future generations it will always be the standard

It's true that altcoins feel the direct impact if BTC experiences a DIP or a rise in price and value, an also like you said altcoins can be a distraction to Bitcoin, and it might not also be a distraction,
Let's have a case study, an investor who wants to Invest in other digital assets outside Bitcoin will have his resources for investing divided between Bitcoin and other altcoins, in this case altcoins becomes a distraction, because the resources that would have been used to acquire only Bitcoin has been shared between Bitcoin and altcoins, but an investor who believes only in investing in only Bitcoin no matter how high the price and values of altcoins, will not see altcoins as a distraction, so it depends on the kind of investor you are, for me

I don't see altcoins as a distraction: for example many people think that bitcoin is too expensive and choose to buy some alt coins instead. There is no logical reason behind this choice but at least they are entering the crypto world then, with experience, they will understand how and why bitcoin is unique and why it's better to own 0.001 BTC rather than 2 billions of some altcoin.

Bitcoin cannot just be simplified to something that determines the price of altcoins. The nature and functionality of Bitcoin is what makes it unique and gives it value. I wouldn’t refer to altcoins as “sub bitcoins” because that gives the impression that altcoins are like Bitcoin. There are people in the crypto space like the BCH fanatics who are of the opinion that certain altcoins are Bitcoin or will replace Bitcoin. 

I don't see the large number of crypto currencies as a direct competition to Bitcoins, because the Bitcoin market is already so huge with so much money invested in it. It's fine if investors are looking for different projects that are based on different protocols. This is part of the financial evolution of the crypto world, the more money is attracted the more opportunities there will be to invest it. It's similar to the stock market, there aren't only the big blue-chip companies we can invest it, also a large number of small and medium sized companies are traded at the stock market that investors can profit from. And here we don't hear either that the big companies complain investors are going for the smaller companies. Having a large number of potential investment candidates makes the market seem more attractive. In the end everybody can decide for himself where he want to put his money. The only issue is if people are investing in a new alt coin project and think that it's going to be next Bitcoins. The chances that Bitcoin is overtaken by another project as the leading crypto currency anytime soon is not very realistic. If there was only Bitcoin, then of course more people would be using it. But having no alternative feels a bit forced into something and it's better when people are choosing freely Bitcoin over another coin.

Here are few facts I know about Bitcoin and other altcoins.


1. Bitcoin moves up, altcoins follows, maybe sooner or later.

2. Bitcoin is decentralized, no altcoins are true decentralized.

3. Every altcoin has the determination to be the next Bitcoin, but not a single one passed this.

4. The reason why altcoins exist is because Bitcoin can't do it all, Bitcoin can't fix all available problems in the world, so it's a must that altcoins exist.

Altcoins can never be a distraction, they have so many empty spaces that they are fixing, today we have privacy coins, Real-world asset coins, less energy-consuming PoW algorithm coins, cheaper payment solution coins, play-to-earn coins, and so on, it is crystal clear that Bitcoin can't fix it all.  :)