Bitcoin needs altcoins because ...

[gkv9]

Bitcoin needs altcoins because they are a competition, a challenge coming up with the best possible features that bitcoin doesn't contain and either needs to add to itself, or overcome like transaction confirmations, anonymity, fee, etc... Alts are needed because they can demonstrate how a better Bitcoin can look like...

[hv_]

Bitcoin needs altcoins because they are a competition, a challenge coming up with the best possible features that bitcoin doesn't contain and either needs to add to itself, or overcome like transaction confirmations, anonymity, fee, etc... Alts are needed because they can demonstrate how a better Bitcoin can look like...

Yeah, hope it helps soon...

But in terms of anker crypto, the first, the most notable it might be not really needed?

[BeManga]

...

- 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?

alt is needed because its one of the reason why bitcoin keep growing one of the thing is trading

[Gaaara]

Bitcoin needs altcoins to be in use,people need altcoins to make bitcoins,but some alts are good hadge for bitcoin whan btc price is going down

well, maybe it was also included into the use of bitcoin in trading. Well, in order to increase the popularity bitcoin, altcoin is needed, especially in this new kind altcoin spending. sometimes, bitcoin prices rise, because of the altcoin that are popular, because although the popularity altcoin was very high, still they have relied on price bitcoin.

I think it is also the truth that you would need bitcoin to buy an altcoin. So it is kind of connected. Whenever a new investor is introduced to a new altcoin there is a time that he or she will be facing bitcoin also. So it kind of helps with the advertisement although their main priority is their own coin first.
Also, whenever you go to a trading website the main currency to be used is bitcoin to where alts are valued. I think when the alt get popular that is when they where priced in USD.

They are being priced by USD, I have tried website trading they're using bitcoin as main currency indeed, but there are some that already have a USD price and you can trade altcoins using USD and I think you're right at the last part cause they have higher volume than others so I assume that the aviability of trading using USD is the reason behind it, for me I think bitcoin is part of altcoin too they just don't call it altcoin here cause obviously we are at a bitcoin forum its part of altcoin cause its cryptocurrency too but bitcoin is the highest among them, bitcoin is the same as any altcoins its just has the highest demand and has the majority among altcoins because of its features.

[philipma1957]

Not that bitcoin needs alt rather that it shouldn't see alts as reductive. An alternative is simply that. Bitcoin wasn't meant to displace or to monopolize it was itself an alternative.

That said, can't see how an alt is bad in any way for bitcoin.

Alts can be used to attack BTC asic mining.

Is this bad for BTC?

I don't know..

But a simple way to lower the value of s-9s or t-9s or avalon 741's  .  Is for nvidia to pump cash into ZEC coin.

The cap is only 75 or 85 million.  Way lower then btc cap of 15 billion.

The higher ZEC price encourages people to buy the new geforce 1080 ti and other nvidia cards.

you can then mine ZEC cash it into BTC.  And your mining cost for btc the nvidia way is far better  then using an asic   directly mining btc.

is this bad for BTC ? I don't know.
is it bad for bitmain and other asic companies?

my guess is yes.  

[machinek20]

Not all altcoin serve the same purpose of bictoin but they work toward having a good value the investment has paid for like a stock. The altcoin help bitcoin to serve more function that it did, and help increase the value and liquidity.

Bitcoin is not a perfect coin, so some people create alt coin to has more specific usage, like faster transaction and more anonymity, this is needed so as the user we would able to choose the coin to use and also alt coin increase the bitcoin transaction rate in trading, so alt coin is needed to help bitcoin to grow

[aardvark15]

...

- 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?

Also as Bitcoin becomes more scarce and expensive, altcoins could be used for smaller transactions while Bitcoins could be for larger transactions. Like coins versus dollar bills.

[kidoseagle0312]

Bitcoin does not need altcoins, but they also do not hurt Bitcoin. They can be beneficial, because they bring new ideas to the table, but if something works on an altcoin it is not a given that it will work with Bitcoin. Or the other way round, if it does not work with altcoin it is not a given that it also will not work with Bitcoin.

In my perception of this matter, Bitcoin I think need altcoin in  terms of promoting it in the entire world. Because as far as I know bitcoin became popular because of altcoin, and moreover only few people in this industry are capable to buy bitcoin directly, but majority of the community here in bitcoin world are not, so their key to have a bitcoin is altcoin through participating in the signature campaign and doing trade of some altcoin in the exchange platform.

[Machine Funk]

Altcoins can increase bitcoins value since it has altcoins thst spread to more people for further exposure that is more than just bitcoin ! Any altcoins user will use bitcoins .

[freedomgo]

Bitcoin does not need altcoins, but they also do not hurt Bitcoin. They can be beneficial, because they bring new ideas to the table, but if something works on an altcoin it is not a given that it will work with Bitcoin. Or the other way round, if it does not work with altcoin it is not a given that it also will not work with Bitcoin.

In my perception of this matter, Bitcoin I think need altcoin in  terms of promoting it in the entire world. Because as far as I know bitcoin became popular because of altcoin, and moreover only few people in this industry are capable to buy bitcoin directly, but majority of the community here in bitcoin world are not, so their key to have a bitcoin is altcoin through participating in the signature campaign and doing trade of some altcoin in the exchange platform.

Bitcoin was the original and without altcoins it will be more popular because it has no competition and all the money will go to bitcoin which will eventually increase its demand. Now, there are plenty of altcoins and the way I see it, it does not solely benefit bitcoin but more on the entire network of crypto currencies. Developers are making their way to educate people about crypto currencies and they always will mention the origin which is bitcoin.

[Devboy]

Bitcoin does not need altcoins, but they also do not hurt Bitcoin. They can be beneficial, because they bring new ideas to the table, but if something works on an altcoin it is not a given that it will work with Bitcoin. Or the other way round, if it does not work with altcoin it is not a given that it also will not work with Bitcoin.

In my perception of this matter, Bitcoin I think need altcoin in  terms of promoting it in the entire world. Because as far as I know bitcoin became popular because of altcoin, and moreover only few people in this industry are capable to buy bitcoin directly, but majority of the community here in bitcoin world are not, so their key to have a bitcoin is altcoin through participating in the signature campaign and doing trade of some altcoin in the exchange platform.

Bitcoin was the original and without altcoins it will be more popular because it has no competition and all the money will go to bitcoin which will eventually increase its demand. Now, there are plenty of altcoins and the way I see it, it does not solely benefit bitcoin but more on the entire network of crypto currencies. Developers are making their way to educate people about crypto currencies and they always will mention the origin which is bitcoin.

It's pretty sure Bitcoin dominated most of internet business, others alt coins are fully controlled by the king of crypto currency bitcoin. We noticed it, when the price of bitcoin were falled down. Bitcoin doesn't have any competition, it's established now and have quite power to go forward.

[n0ne]

Altcoins can increase bitcoins value since it has altcoins thst spread to more people for further exposure that is more than just bitcoin ! Any altcoins user will use bitcoins .

As stated in one or other way every altcoin users mostly​ uses bitcoin for trading and for related requirement. Another thing the growth experienced can be calculated only if there is something to make a comparison as cryptocurrency seems to be a new word for most of the people.

[mmo4me.2016]

Because at this time. most of coin exchange to BTC!

[Winner]

Bitcoin doesn't need any Altcoins for the project to grow.

Anyhow, the different Altcoins being posted around this forum is an easier method of having more people give certain inputs within this forums community. Although Bitcoin could get practiced on via testnet it's proven that Altcoin's help with the development of Bitcoin.

If Bitcoin was only transferred by ones then there would only be 21,000,000 coins and the possibility of 21,000,001 people holding the coin wouldn't be right. Altcoins allow people to properly calculate the decimal places and send transactions without doing much counting.

[st0nefish]

I do not think Bitcoin needs altcoins. Each altcoin brings different innovations. But as a payment system, Bitcoin already meets our needs.
Even if there is no altcoin, bitcoin will continue to exist in the population.

I think bitcoin also need altcoin to foster price. Well, to buy altcoin, or distribute bitcoin, sometimes it takes a bitcoin, so, people need to form altcoin bitcoin, and bitcoin it makes the price to rise. Well, now very much a project and of course it affects the price of bitcoin.

People value the value of something. Even if there are no altcoins, people can claim bitcoin. As people buy bitcoin, the price will already increase. There is no need for altcoins for this.

You have a point even theres no altcoin bitcoin can stand alone on its own and you are right if theres only one to be focused on then expect the price or value will shoot up but we cant really avoid that there are people who will made their own coin believing that they could able to make another coin which similar to bitcoin that would makes them famous and rich.

I do not trust the altcoins. Many people think that altcoin's price like bitcoin will increase. They pump up some altcoins and raise their prices. People are starting to take a rising altcoin. Later, when a quick dump comes, many people are lose money.

But even if the price of the bitcoin falls, it rises back to its former price.

if the price of bitcoin remain stable then trading alt coin using your bitcoin is also a good option and  you can really make good profit from it. as i am a good trader and i mostly trade alt coins for making money.

Altcoins can be used for short-term investments. But it makes more sense to use bitcoin for long-term investments.
For example, last week the price of XRP went up too much and many people bought XRP. Then the price began to fall.

[BitFinnese]

As of now I can see the reason why Bitcoin needs altcoin, aside from trading partner, altcoin can be use as testing ground to any implementation developer planned for Bitcoin.  Like for example, since there is a dispute about implementing segwit to Bitcoin, several altcoin are planning to implement it.  This will at least give Bitcoin community a view of something if ever Segwit is activated.

[Haladay]

Bitcoin needs altcoins because bitcoin have to show it can beat them all even there are thousands of different altcoins! 

[TastyChillySauce00]

Altcoins can increase bitcoins value since it has altcoins thst spread to more people for further exposure that is more than just bitcoin ! Any altcoins user will use bitcoins .

Nah, I think it's wrong that altcoins could really affect the price of bitcoin, maybe those altcoins are using bitcoin as their base comparison. Nowadays many altcoins have been using ethereum for their crowdfunding currency and therefore bitcoin can't really get exposed but some still accept both. altcoins indirectly exposing bitcoin indeed.

[aksplace]

actually the true reason for altcoin is a some improvement from bitcoin that maybe bitcoin doesnt have it to give a better service
but many altcoin just for to make profit for the creator and the whale

[madwica]

actually the true reason for altcoin is a some improvement from bitcoin that maybe bitcoin doesnt have it to give a better service
but many altcoin just for to make profit for the creator and the whale

It helps to increase the value of bitcoin but not totally bitcoin will base on the altcoin.
And i agree that altcoin created for the purpose of earning by one dev or owner because they want to mine altcoin to increase their income.