Bitcoin needs altcoins because ...

[batang_bitcoin]

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

That's the reality, alt coin is only for generating profit and all of them came from the original one which is bitcoin. And they are good additional marketcap for bitcoin because most of them are still relying and depending with bitcoin. Their main conversion is still bitcoin so that is a good help for bitcoins market.

As quoted altcoins are generated not only for profit making. It's been generated same as bitcoin but the potential coin gets used in a better way other than a profiting source. Altcoin provides added methodologies in profit making with bitcoin through the exchange of bitcoin for altcoins.

But with what is happening today is very different. There are new coins that are popping out like mushroom coming from nowhere that are definitely only for profit generation. But I know that alt coins are good for making something new or showing that bitcoin needs to be upgraded and that's why many are keep on developing with a purpose.

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[cryptonia]

...

- 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?

Because with alts we know what they are doing and planning. Bitcoin cant come to a decision.

[naidray]

What I find the most important is the fact that Governments do not have to fight with just one enemy (which was Bitcoin). Now they need to fight with hundreds of enemies and see what actions they can take against them. It's harder for them to reach the point where they can make all these coins illegit..

Doesn't matter if there would be millions of cryptocurrencies that has been created when the government decided to take some action. They simply have to ban the use of all unregulated currencies most especially decentralized ones and unregulated ones. When they do that, it will be legal to use centralized cryptocurrency like digital fiat, digital gold, etc.

They don't have to ban bitcoins, and then ban etherium, then ban dash, then ban LTC, then ban Dogecoin. The government is quite smart. They are not going to put a ban on these currencies one by one but rather they will categorize them to ban them all at once.

Yes, actually in some countries they don’t ban cryptocurrency in particular they ban any use of currency that is not local, that way they ensure there will be no twisting the law, banning cryptocurrency is not something that governments can’t do, they are aware of what is happening and I ensure you that they are monitoring it and know that bitcoin for example is used in the black market, and this make me think that maybe they are the ones behind it after all maybe they are controlling the bitcoin and we just don’t know it.

[Fatanut]

What I find the most important is the fact that Governments do not have to fight with just one enemy (which was Bitcoin). Now they need to fight with hundreds of enemies and see what actions they can take against them. It's harder for them to reach the point where they can make all these coins illegit..

Doesn't matter if there would be millions of cryptocurrencies that has been created when the government decided to take some action. They simply have to ban the use of all unregulated currencies most especially decentralized ones and unregulated ones. When they do that, it will be legal to use centralized cryptocurrency like digital fiat, digital gold, etc.

They don't have to ban bitcoins, and then ban etherium, then ban dash, then ban LTC, then ban Dogecoin. The government is quite smart. They are not going to put a ban on these currencies one by one but rather they will categorize them to ban them all at once.

Yes, actually in some countries they don’t ban cryptocurrency in particular they ban any use of currency that is not local, that way they ensure there will be no twisting the law, banning cryptocurrency is not something that governments can’t do, they are aware of what is happening and I ensure you that they are monitoring it and know that bitcoin for example is used in the black market, and this make me think that maybe they are the ones behind it after all maybe they are controlling the bitcoin and we just don’t know it.

I kind of doubt that they have any control over bitcoins. Because why create something that will totally destroy the fiat system when in the first place, it's the thing that gives them control over us. In most countries (or at least the undeveloped once), it's not that currencies except the local one is banned. It's just that you cannot find a store that's accepting dollars or any other foreign currency. You have to exchange your money into a local currency first before you can buy something.

Bitcoin is used in the black market but that doesn't mean that the government is behind it. After all, how can you come up to that conclusion with such little information to back it up.

[manselr]

The stalemate situation in which bitcoin is will make altcoins like litecoin gain tremendous importance if it gets the updates required such as segwit.

Bitcoin is too robust with its 95% activation threshold, this has a value in itself but as a result you get a coin that is very hard to update.

[Jewell]

What I find the most important is the fact that Governments do not have to fight with just one enemy (which was Bitcoin). Now they need to fight with hundreds of enemies and see what actions they can take against them. It's harder for them to reach the point where they can make all these coins illegit..

Doesn't matter if there would be millions of cryptocurrencies that has been created when the government decided to take some action. They simply have to ban the use of all unregulated currencies most especially decentralized ones and unregulated ones. When they do that, it will be legal to use centralized cryptocurrency like digital fiat, digital gold, etc.

They don't have to ban bitcoins, and then ban etherium, then ban dash, then ban LTC, then ban Dogecoin. The government is quite smart. They are not going to put a ban on these currencies one by one but rather they will categorize them to ban them all at once.

Yes, actually in some countries they don’t ban cryptocurrency in particular they ban any use of currency that is not local, that way they ensure there will be no twisting the law, banning cryptocurrency is not something that governments can’t do, they are aware of what is happening and I ensure you that they are monitoring it and know that bitcoin for example is used in the black market, and this make me think that maybe they are the ones behind it after all maybe they are controlling the bitcoin and we just don’t know it.

i think currently bitcoin is very smoothly use in all over the world and not in a single country still bitcoin has given any statement about bitcoin. although they also not given any statement about bitcoin i which they consider bitcoin as legal currency but still they even do not consider it as legal currency.

[voztata]

What I find the most important is the fact that Governments do not have to fight with just one enemy (which was Bitcoin). Now they need to fight with hundreds of enemies and see what actions they can take against them. It's harder for them to reach the point where they can make all these coins illegit..

Doesn't matter if there would be millions of cryptocurrencies that has been created when the government decided to take some action. They simply have to ban the use of all unregulated currencies most especially decentralized ones and unregulated ones. When they do that, it will be legal to use centralized cryptocurrency like digital fiat, digital gold, etc.

They don't have to ban bitcoins, and then ban etherium, then ban dash, then ban LTC, then ban Dogecoin. The government is quite smart. They are not going to put a ban on these currencies one by one but rather they will categorize them to ban them all at once.

Yes, actually in some countries they don’t ban cryptocurrency in particular they ban any use of currency that is not local, that way they ensure there will be no twisting the law, banning cryptocurrency is not something that governments can’t do, they are aware of what is happening and I ensure you that they are monitoring it and know that bitcoin for example is used in the black market, and this make me think that maybe they are the ones behind it after all maybe they are controlling the bitcoin and we just don’t know it.

I bet you are probably right, just like how the Fed’s can control the money base with  fiat currency in the United States. They probably highered a bunch of smart economists to do the same thing with bitcoin. If too many people use it for illegal activities they can decrease the base so much that the currency becomes useless and they solve the problem. That would be scary!

[stergium]

What I find the most important is the fact that Governments do not have to fight with just one enemy (which was Bitcoin). Now they need to fight with hundreds of enemies and see what actions they can take against them. It's harder for them to reach the point where they can make all these coins illegit..

Doesn't matter if there would be millions of cryptocurrencies that has been created when the government decided to take some action. They simply have to ban the use of all unregulated currencies most especially decentralized ones and unregulated ones. When they do that, it will be legal to use centralized cryptocurrency like digital fiat, digital gold, etc.

They don't have to ban bitcoins, and then ban etherium, then ban dash, then ban LTC, then ban Dogecoin. The government is quite smart. They are not going to put a ban on these currencies one by one but rather they will categorize them to ban them all at once.

Yes, actually in some countries they don’t ban cryptocurrency in particular they ban any use of currency that is not local, that way they ensure there will be no twisting the law, banning cryptocurrency is not something that governments can’t do, they are aware of what is happening and I ensure you that they are monitoring it and know that bitcoin for example is used in the black market, and this make me think that maybe they are the ones behind it after all maybe they are controlling the bitcoin and we just don’t know it.

i think currently bitcoin is very smoothly use in all over the world and not in a single country still bitcoin has given any statement about bitcoin. although they also not given any statement about bitcoin i which they consider bitcoin as legal currency but still they even do not consider it as legal currency.

yes that is right and i also think that bitcoin do not any alt coin, as bitcoin is strong enough and it can survive for a long long time without the support of any alt coin.

[Janation]

What I find the most important is the fact that Governments do not have to fight with just one enemy (which was Bitcoin). Now they need to fight with hundreds of enemies and see what actions they can take against them. It's harder for them to reach the point where they can make all these coins illegit..

Doesn't matter if there would be millions of cryptocurrencies that has been created when the government decided to take some action. They simply have to ban the use of all unregulated currencies most especially decentralized ones and unregulated ones. When they do that, it will be legal to use centralized cryptocurrency like digital fiat, digital gold, etc.

They don't have to ban bitcoins, and then ban etherium, then ban dash, then ban LTC, then ban Dogecoin. The government is quite smart. They are not going to put a ban on these currencies one by one but rather they will categorize them to ban them all at once.

Yes, actually in some countries they don’t ban cryptocurrency in particular they ban any use of currency that is not local, that way they ensure there will be no twisting the law, banning cryptocurrency is not something that governments can’t do, they are aware of what is happening and I ensure you that they are monitoring it and know that bitcoin for example is used in the black market, and this make me think that maybe they are the ones behind it after all maybe they are controlling the bitcoin and we just don’t know it.

i think currently bitcoin is very smoothly use in all over the world and not in a single country still bitcoin has given any statement about bitcoin. although they also not given any statement about bitcoin i which they consider bitcoin as legal currency but still they even do not consider it as legal currency.

yes that is right and i also think that bitcoin do not any alt coin, as bitcoin is strong enough and it can survive for a long long time without the support of any alt coin.

I think you are wrong thinking that bitcoin do not need altcoins or other cryptocurrency, most of the bitcoin users start to earn other cryptocurrency and then use it to convert or trade to bitcoin so they can have some profit. It is essential for a popular or original digital currency to have a competent opponent because the aim of digital currency is not based on it's price but depends on how the users use it. Many users are using bitcoin because they love how they send and pay bills out of it, in other words, they suit their need, but with the unconfirmed transactions, they are fearing to use it so they are converting to another altcoin with fast transactions to suit what the user needs. It survived a long time because bitcoin is compared to a lot of cryptocurrency and still at the top of it.

[Nagadota]

\
Yes, bitcoin is already very popular bitcoin till never depends on altcoin. Altcoin is completely based on bitcoin to increase their value.
In order to trade cryptocurrencies one need currency like bitcoin, because with fiat the value is simply high.

You can actually already trade cryptocoins using fiat or even ETH. Bitcoin doesn't have to be always the star in the crypto-world. There would always be major coins like Ether and the trading sites will always think of the idea of using these major coins directly to trade other cryptocurrencies.

I don't get what you're saying that "with fiat, the value is simply high." Fiat will always be the standard measurement of these currencies. Even though we mainly trade them with bitcoins, bitcoins' value is still measured using the fiat currency. Meaning to say, all cryptocurrencies' value will always be dictated to its price when converted to fiat. You don't get a discount when you use bitcoin to buy a cryptocurrency, you'll get the same thing (e.g. you buy a coin with 20$ fiat, and when you buy a coin with bitcoin that's worth 20$).

Usually when you're talking about buying a cryptocurrency other than Bitcoin with fiat, you're actually talking about putting Bitcoin into USDT and that into fiat.  It's never actually that easy to convert it directly with fiat unless it's a huge coin like ETH or something.

[Hazir]

Because with alts we know what they are doing and planning. Bitcoin cant come to a decision.

Because bitcoin is so big truly decentralized, or maybe correct word would be: fractured, to the point that effectively managing its upgrade became pain in the ass.
On the other hand most altcoins are small project where developers can enforce their vision and shape the coin as they please.
Because no one care to the point to oppose developers and fractions supporting different solution within the community are not existent.

[Konthol Ngaceng]

for comparison, when no coins that could compare, certainly makes popular can't bitcoin as of now. We have to admit that the transaction is of a very massive trading thereby making bitcoin is famous and popular.

[posternat]

What I find the most important is the fact that Governments do not have to fight with just one enemy (which was Bitcoin). Now they need to fight with hundreds of enemies and see what actions they can take against them. It's harder for them to reach the point where they can make all these coins illegit..

Doesn't matter if there would be millions of cryptocurrencies that has been created when the government decided to take some action. They simply have to ban the use of all unregulated currencies most especially decentralized ones and unregulated ones. When they do that, it will be legal to use centralized cryptocurrency like digital fiat, digital gold, etc.

They don't have to ban bitcoins, and then ban etherium, then ban dash, then ban LTC, then ban Dogecoin. The government is quite smart. They are not going to put a ban on these currencies one by one but rather they will categorize them to ban them all at once.

Yes, actually in some countries they don’t ban cryptocurrency in particular they ban any use of currency that is not local, that way they ensure there will be no twisting the law, banning cryptocurrency is not something that governments can’t do, they are aware of what is happening and I ensure you that they are monitoring it and know that bitcoin for example is used in the black market, and this make me think that maybe they are the ones behind it after all maybe they are controlling the bitcoin and we just don’t know it.

i think currently bitcoin is very smoothly use in all over the world and not in a single country still bitcoin has given any statement about bitcoin. although they also not given any statement about bitcoin i which they consider bitcoin as legal currency but still they even do not consider it as legal currency.

yes that is right and i also think that bitcoin do not any alt coin, as bitcoin is strong enough and it can survive for a long long time without the support of any alt coin.

Believe on this, bitcoin do not need any alt coin because it depends on the demand of people of purchasing bitcoin, so alt coin is not related on the increase of its value. As long as people support bitcoin it will rise for more and live for long, alt coin is the one that rely on bitcoin , not bitcoin in alt coin.

[choppork]

Believe on this, bitcoin do not need any alt coin because it depends on the demand of people of purchasing bitcoin, so alt coin is not related on the increase of its value. As long as people support bitcoin it will rise for more and live for long, alt coin is the one that rely on bitcoin , not bitcoin in alt coin.

How exactly does altcoins rely on bitcoins? Saying that it's because bitcoin is the leading cryptocurrency would mean that all fiat currencies rely on USD since it's the leading fiat currency. That's obviously false.

Altcoins have been doing campaigns in the real world for quite a long time and investors which are non-bitcoin users have entered the cryptocurrency world when they got interested in a certain altcoins. Eventually, those investors have invested in bitcoin since they see how volatile it is and how much they can make from it after a couple of years. Altcoins don't just promote themselves when they are getting advertised in the real world, the are promoting the whole cryptocurrency world including bitcoins. Now, has anyone ever seen a bitcoin advertisement? There might be some bitcoin-related company Ads but never an Ads which is about bitcoin alone.

[DooMAD]

If you consider the bandwidth and storage requirements for every altcoin transaction on every blockchain out there, there's no conceivable way Bitcoin would have remained as decentralised as it currently is if it had to incorporate all of that additional data into its own blockchain.  Bitcoin needs altcoins because it simply wouldn't have coped with the throughput if it had to handle every piece of data outside its current scope.  As it stands, it sometimes struggles to deal with the transactions it's meant to handle.  You pretty much have to argue that niche ideas are better held on their own separate chains, so as not to excessively bloat Bitcoin's chain.  Particularly if those ideas incorporate above average amounts of data storage.  This also ties in nicely with the testbed argument, in that Bitcoin isn't compatible with some of the more ambitious or radical features people want to experiment with.

[Mvaporis1961]

There are many reasons why do bitcoins needed altcoins in the market..First is for the devs to have more upgrade and feature update in bitcoins,because there are altcoins that tries to compete against bitcoin with some features that bitcoin doesnt have.Second thing is the fact that they work an develop at the same time.

[BlackPanda]

because altcoin is an important part of the world bitcoin. with altcoin the bitcoin prices could change, because the price of bitcoin broadly influenced by altcoin. and also with the altcoin we can perform a wide range of trade,. This is why the importance of altcoin today.

[Distinctin]

because altcoin is an important part of the world bitcoin. with altcoin the bitcoin prices could change, because the price of bitcoin broadly influenced by altcoin. and also with the altcoin we can perform a wide range of trade,. This is why the importance of altcoin today.

Altcoin and bitcoin are created with different purpose, and they are unique actually and if we see it is beneficial to us then
it is presume that people will also support it. But the number 1 is bitcoin and with the developers in altcoins who continues to
make developments it will help bitcoin be more popular and the crypto as a whole.

[commandrix]

-Alts can be optimized for small transactions in ways that Bitcoin just isn't.

-Alts will give cryptocurrency users something to jump to if they become spooked by possible rifts in the Bitcoin community or world events that might negatively affect Bitcoin and want to "jump ship" away from Bitcoin.

-Alts might have features that are useful for the future of economics. (Basic economic rules apply, but the playing field can change.)

[soul-impact]

because altcoin is an important part of the world bitcoin. with altcoin the bitcoin prices could change, because the price of bitcoin broadly influenced by altcoin. and also with the altcoin we can perform a wide range of trade,. This is why the importance of altcoin today.

Altcoin and bitcoin are created with different purpose, and they are unique actually and if we see it is beneficial to us then
it is presume that people will also support it. But the number 1 is bitcoin and with the developers in altcoins who continues to
make developments it will help bitcoin be more popular and the crypto as a whole.

The altcoins are like duplicates of bitcoin but have other technological core, which is according to the way that the developer wants to do. However, altcoins are just the means for people to make more bitcoin until the altcoins are really popular and developed independently. So, altcoins are like the means to develop bitcoin.