Bitcoin needs altcoins because ...

[deadpoolx]

I think that the biggest benefits that Bitcoin can have through these coins will occur when projects begin to be developed in Bitcoin sidechains, because many of the improvements proposed by such coins can be used in the Bitcoin network. For the information I have, there are several projects currently working on it.

[aarturka]

Altcoins are needed for natural selection in cryptoworld. Most wise and clever will hoard most bitcoins. Dull ones and unfit will lose everything on alts and can not survive.

[romero121]

If altcoins were not there, people cannot understand the importance and potential of bitcoin. Bitcoin could have been considered similar to a coin or currency. Now due its success as digital currency and as a technology, it is preferred in several platform based upon their requirements.

[digaran]

BTC doesn't need any jack whatsoever but people do, you see bitcoin isn't about a dev team copy pasting and even changing a few lines of codes and then sit back and wait to dump their 40% or more premined coins on people only after they pumped it themselves.
Lazy people saw bitcoin was successful and said what a great idea, why don't we launch our own cryptocurrency and fill our pockets since bitcoin's train already left the station?

Yeah bitcoin doesn't need alternatives and even if it does, only a few with professional and dedicated and transparent team and strong community not thousands of useless craps.

[Btc_1856]

Today bitcoin has become more popular due to altcoin because most of crypto are not really comparable with bitcoin. Many people are actively trading altcoin to make more money in the form of btc, some people can't able to invest big amounts to buy bitcoin, through altcoin it is possible to make huge bitcoin.

[Immakillya]

Altcoins i think its a good way to test or experiment some features that can possibly improve bitcoin in the future. You can test it on altcoin. LN, adding blocksize and other. Some altcoins are undergoing to this test right now. But seems altcoins are so many. But only few are succeeded. Bitcoiin should adapt some features in able to survive in the future.

[Wind_FURY]

...

- 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?

Hahaha. I must admit I did not think of it that way. My primary thoughts on altcoins are usually in the negative and my belief is that they are more of a nuisance than a benefit for Bitcoin. Since you put it that way then Bitcoiners should encourage the creation of coins until we have enough cushion to fall on in case Bitcoin goes down.

[dfox101]

lol, bitcoin does not need any other altcoin, period. Although the existence of altcoin did advance our understanding of the cybercoin and generated some good technologies.

[nicolecan13]

Practically I know that you cannot do tradings without the altcoins because it is needed in bitcoin. Alternative coins would do a lot of bitcoin in trading because those altcoins could be your bitcoin earnings in an alternative way on how trade works.

[densuj]

For me bitcoin needs altcoins are places for increasing amount of bitcoins
because of altcoins i could made profits and got income from trading
it is fair because on trading altcoins can use small amount of capital and large amount of capital,
so every people can do trading although just for couple dollars on trading altcoins.

[pooya87]

bitcoin doesn't need altcoins at all if you ask me, there is a testnet that is working the same as bitcoin and if anything wants to be tested, it can be tested there easily. altcoins are distraction for making more bitcoin.

the only thing that i can agree on is that altcoins can introduce things that are completely new, for example the first POS coin or some weird new feature that nobody knows. but again if that feature is good and useful we can test it on bitcoin and add it to it.

[Fredomago]

for me its correct to say that bitcoin needs alts for competition and because of that we are enjoying the trade industry as we can trade alts to convert into btc and enjoy the fluctuation, earnings coming from trading is much prefer rather than shorting bitcoin into fiat, its my personal opinion and understanding since most of them offer same thing regarding into its service and bitcoin can be more stable among the rest.

[dotajhay]

If bitcoin is only the currency and no altcoins maybe traders will quit from trading because it's hard and it takes a long time to get profit from trading and earn money and it's hard to trade bitcoins, the other purpose of altcoins is to use it from trading to earn money and to play the market.

[frendsento]

Bitcoin can obviously stand for Itself, It doesn't need any altcoin for it to work but in any case that it dies there will be an option for us to choose for an alternative , I think the proper question would be why we people need altcoin rather than why bitcoin need altcoin

[loserkids]

I like Litecoin that sometimes implements features before Bitcoin to see if they make sense. In general trying different crypto approaches is good for the whole market.

[Blawpaw]

Altcoins works like a different network to send bitcoins through. Altcoins can be pretty helpful when you want to send bitcoin and pay a lot less fees with faster transactions times than you would if you used the normal bitcoin network. Basically, Altcoins can greatly surpass the bitcoin network limitations

[Paxful_Marketing]

Saying you dont need altcoins is extremely myopic. Its like facebook saying "we dont need twitter or instagram" or skype saying "we dont need whatsapp, viber, signal etc..." because we should be the one and only.

If you take a step back and look at the bigger picture, you will see that having all these different services and branches only strengthens the entire cryptosphere. We need as many different possibilities as we can get (IMO). Not everyone is in love with bitcoin and we should be open to that, but perhaps they are open to decentralized storage like STORJ or other platforms like Synereo etc.

[Xester]

Bitcoin doesnt need altcoins. Even though bitcoins has flaws and weaknesses such as slow transaction and smalle blocksize, high miner fees but it doesnt mean that bitcoin needs altcoin to survive. Bitcoin is independent of any altcoins. The advantages brought by alternative coins is not on the level of bitcoin but on the level of traders. Alternative coins makes the exchanger more livelier for traders.

[agustina2]

Bitcoin doesn't need altcoins. It can stand on it's own and we all know that.

Altcoins are just designed "to make money" thinking they can be like bitcoin someday. We can't compare that to the different fiat currency that is existed today since it's per nation basis.

..Not everyone is in love with bitcoin and we should be open to that..

If no alts existed after bitcoin then no statement like that will be made.

[talkbitcoin]

i don't agree with saying bitcoin "needs" altcoins, specially with how altcoins are these days.

but at the same time i say it is good to have a competition. it helps keep us aware and moving forward. imagine if there were something as good as bitcoin that was adopted as much and could run side by side of bitcoin.