Bitcoin needs altcoins because ...

[Xenrise]

Because any currency that are existing in this world have uses and purpose in any projects in this economy. And just what I'm saying it has a purpose in this economy because altcoins are the coins that gives meaning to bitcoin, that's what it is. And altcoin is badly needed for companies that are raising projects in promoting their coin.

[1714885258]

1714885258

[1714885258]

1714885258

[Superzpay]

The parent of all coins is bitcoin, so my thinking ..
Any coins owned will definitely be back on bitcoin..

The traders might need alts  because Bitcoin may become too much expensive and hard to get it in a future so the poor or newbie traders will take start from cheap altcoins. Most of the other traders also like altcoins for their short term trading at the times when the bitcoin price come to a little stability. But bitcoin is not dependent on altcoin it is clear to all.

[Zemangat]

Bitcoin and altcoin are very important in trade. Both are mutually beneficial. If you have little bitcoin. you can try to buy altcoin at a low price then you would sell it when prices are high. If you can do that. You will be adding your bitcoin. And profit. Do it every time you have bitcoin. Bitcoin and altcoin are needed in my opinion.

[Aztek]

...

- Alts work like a testnet for bitcoins (looking forward seeing Litecoin with SegWit)

- Once an alt feature looks working it might get adopted no matter onchain or in a side chain. (RSK)

- Alts mostly need bitcoin to trade and some bitcoins might be always reserved / locked for this.

- Alts might help to generate a closed bitcoin economy

My favorit comes here:

- Alts work like an infinite fear generator (Hydra) against any try of regulators to bring bitcoin down, since there are too many to kill and its very easy to just create a new one (like a Hydra cannot be killed by chopping off some heads, even the biggest one!) > crypto world is anti fragile and it will stay on this solar system from year 2009 on.


Any other things missing here?

I dont really think bitcoin need the alternative coins because as we all knwo it is being called as alternative because it just a alternative and it just a se sort of copy of bitcoin and so i know that bitcoin is more successful today if there are no alt coins in The market.

[GreenBits]

...

- Alts work like a testnet for bitcoins (looking forward seeing Litecoin with SegWit)

- Once an alt feature looks working it might get adopted no matter onchain or in a side chain. (RSK)

- Alts mostly need bitcoin to trade and some bitcoins might be always reserved / locked for this.

- Alts might help to generate a closed bitcoin economy

My favorit comes here:

- Alts work like an infinite fear generator (Hydra) against any try of regulators to bring bitcoin down, since there are too many to kill and its very easy to just create a new one (like a Hydra cannot be killed by chopping off some heads, even the biggest one!) > crypto world is anti fragile and it will stay on this solar system from year 2009 on.


Any other things missing here?

... there needs to be alternatives.

Although bitcoin is capable of a lot of the features of the popular alts, I prefer each blockchain serving a distinct purpose. Litecoin indeed functions as a silver, as far as stability, and it's pretty fast. Doge is useful for xfer between exchanges, given the low price per coin, relatively stable price, and always low fees. ETH haa all the ERC20 tokens, atock like assets on a blockchain. Essentially, the differences in the coins are features. Bitcoin seems like a great long term store of value, but it's usefulness breaks down as an everyday spending currency.

We at least need ZCASH you can't beat anon transactions, especially with the blockchain forensixs.forensics these days

[ilovefeetsmell]

Competition, altcoins are needed to bring competition to bitcoin, nothing good comes from a monopoly so by having altcoins there are more ways for people to make money, to receive payments, it gives us the chance to choose the crypto currency that has the best characteristics for what we are looking for.

Altcoin is one of the sources of income to earn bitcoin. We do trading to grow our bitcoin. Altcoin is also part of cryptocurrencies. Generally, altcoin as better substitutes to Bitcoin. Bitcoin is still leading the virtual currency pack. Combination of bitcoin and altcoin are huge using internet world. We can use our fiat currency to buy and sell altcoin. Altcoin has the same definition as bitcoin. It also has disadvantages and advantages between the two. People preferred to use bitcoin because is widely known around the world.

[Reaper3]

If there were no altcoins the price of bitcoin would be significantly higher. Ethereum though does add significant value

[care2yak]

bitcoin needs altcoins because bitcoin needs help from other source of crypto currencies. if bitcoin itself is just running in the online market, then other users will just think that its boring if it just bitcoin who is running in the online world. maybe they would choose other investment rather than bitcoin so thay can play in the market.

Bitcoins and alts need each other. In trading, for example, it helps with the liquidity of both, then there's gaining from price differences, so trading with bitcoin and alts makes cryptocurrency trading exciting. Other than that, they help each other carry out a deeper level of psuedonymity since it won't just be bitcoin addresses that are dealt with but with altcoin addresses as well. More layers of pseudonymity is carried out, so it won't be that easy to track an identity tied to a certain bitcoin or altcoin address.....

[hv_]

bitcoin needs altcoins because bitcoin needs help from other source of crypto currencies. if bitcoin itself is just running in the online market, then other users will just think that its boring if it just bitcoin who is running in the online world. maybe they would choose other investment rather than bitcoin so thay can play in the market.

Bitcoins and alts need each other. In trading, for example, it helps with the liquidity of both, then there's gaining from price differences, so trading with bitcoin and alts makes cryptocurrency trading exciting. Other than that, they help each other carry out a deeper level of psuedonymity since it won't just be bitcoin addresses that are dealt with but with altcoin addresses as well. More layers of pseudonymity is carried out, so it won't be that easy to track an identity tied to a certain bitcoin or altcoin address.....

Hm -yes and no.  High liqui is on the one hand side good for users at first hand sight. They see lowers spreads. Fine.

But

This comes at a cost: Liqui-Providers / Bots NEED to earn money otherwise nobody would do that.

This money is removed from the market and price shift is down!  - Not good for all....

[cryt3k]

yes, bitcoin needs altcoins to create crypto portfolio, introduce new features and rule the stock exchange market.

[Donaldturp]

Bitcoin needs altcoins because bitcoin has become a fiat currency for altcoin traders and bitcoin is a must for traders to convert their money after transactions.

[hv_]

Bitcoin needs altcoins because bitcoin has become a fiat currency for altcoin traders and bitcoin is a must for traders to convert their money after transactions.

Hahaha, no not at all.

It is rather a denominator or a safe haven. But not fiat by any means.

[Lyancy001]

I like the way how all coins compete with each other.

[BitcoinGirl.Club]

When it comes to survival Bitcoin needs altcoins because it prolongs its shelf life by making it difficult to shut down

if the governments ever wanted to shut it down they would have to shut down the 100s of altcoins that exist!

I like the way how all coins compete with each other.

i guess competition does bring the best out of bitcoin and gives the devs some ideas on what it really needs to be perfect

[shield132]

To my mind the only real reason of why bitcoin needs alt is that when something is market and it's single without opponents, this can control people and cause bad situation and also can't develope. But hopefully we have alts, there are more wide choises, bitcoin has to be best to beat all alt and it's like this, in result, bitcoin is better and it's clear when we see alts. Alts help bitcoin to show it's light sides.

[pressureonme]

Bitcoin needs altcoins because bitcoin has become a fiat currency for altcoin traders and bitcoin is a must for traders to convert their money after transactions.

Hahaha, no not at all.

It is rather a denominator or a safe haven. But not fiat by any means.

Bitcoin is not a fiat money clearly the only thing with bitcoin is that it's a safe place to return after complete our altcoin trades. That's all I think.

hv_ is right here.

[Amevalentine]

yes on somewhat, i do disagree with OP.
in some condition, some altcoins has spread spamming post on fb and twitter with those campaign.
but unfortunately these doesn't make people understand for what they speaking.
but positively, we need other opposite for balancing btc price, whats why we need altcoins.

[freedomgo]

To my mind the only real reason of why bitcoin needs alt is that when something is market and it's single without opponents, this can control people and cause bad situation and also can't develope. But hopefully we have alts, there are more wide choises, bitcoin has to be best to beat all alt and it's like this, in result, bitcoin is better and it's clear when we see alts. Alts help bitcoin to show it's light sides.

There are a good pair for trading and not only that with altcoins bitcoin will be getting more popular as the blockchain will be
introduce and we all know bitcoin started it. The reason why bitcoin market is now growing is because a lot of people are also investing
in the altcoins market when it requires bitcoin.

[Vixmore]

This is sort of a yes and no answer to a question.

While I agree with the things mentioned, it is almost certain that if no altcoins existed, bitcoin's value and popularity would be significantly bigger. This can easily be said for ethereum alone. If it ceased to exist, many more people would invest in bitcoin and that would drive the prices higher.
However, trading and investing in altcoins is one of the best ways to multiply your funds to bitcoins. As the prices can grow or decrease rapidly, it is much easier to make a lot of money or loose it too.

[Hypnosis00]

Bitcoin needs altcoin because it will boost the circulation of the supply of bitcoin because it will be distributed not only to the investors and bitcoin market and also for the altcoin market and that is an advantage because there is a lot of altcoin market and that will make the volatility even stronger.