Bitcoin making alts useless

[OmegaStarScream]

We probably have multiple alts that one could consider as better version of bitcoin but as you're noticing, bitcoin is gaining more popularity and a fast growth. The price is not a measure of a coin success so what I'm referring to here is the the number of ATMs, exchanges, stores, services, and people accepting it.

So even If we have some people using alts currently because they believe they are better then bitcoin (which may be true), bitcoin is evolving and the development is super active and exciting times are coming. I honestly believe that this make alts useless (say, by the end of the year), your thoughts?

[yinyangwinwang]

I feel the same because I have recently looked into the upgrades incoming for Bitcoin and they will resolve most of the problems it has, which is what alts try to solve. Now there may be some use case for a handful of alts but I think 95%+ will be useless after 2018 perhaps 2019. Not gonna hodl many alts after this run, if I do they will have a use case that Bitcoin 100% can't.

[xindoa]

don't know if BTC is making alts useless, some coins have actual real life application and are mode especially for one reason.

ok you can say that that is not a good thing. but the blockchain of btc can't be used for everything. i like the fact some development is made for real life problems. btc does not solve any real life problem except the banks

[o_e_l_e_o]

Is bitcoin going to be instant and free like XRB? No.

Is bitcoin going to support smart contracts like ETH and NEO? No.

Is bitcoin going to pay you for holding it like NEO, VEN, XLM? No.

Is bitcoin going to pay you exchange dividends like KCS and COSS? No.

Is bitcoin going to be completely anonymous like XMR? No.

Is bitcoin going to have the business partnerships of VEN, ICX, WTC, REG, OMG?

Lightning network will it make it a bit faster and a bit cheaper. There's a hell of a lot more to blockchain technology than being a bit faster and a bit cheaper.

[housebtc]

Even if we don't put Bitcoin into the arguement most of these so called ALtcoins are useless and I pity some people because they will wake up one day and see that they Altcoin stash worth close to Zero. The level of investment in Bitcoin is so big and this can't be rival by any ALtcoin projects so far

[jlanzago]

You are actually wrong. Bitcoin has its uses, and many altcoins have a very different use case, tackling a very different real world problems. It is like comparing smartphones with beans, you cannot say one is better than the other. They just have different purposes.

[proexcept]

Yeah, BTC has the most adaptation between the whole market, but... How long ago did you make a transaction with BTC and with ETH? If we compare fees there will be an obvious fact that BTC is far behind ETH in the matter of a payments cost.

[rallyko]

Bitcoin is the most popular cryptocurrency now, he is the progenitor of cryptocurrency. But bitcoin technology is obsolete. There are many promising altcoins with fast and inexpensive transactions now. Not all altcoins are useless

[o_e_l_e_o]

Even if we don't put Bitcoin into the arguement most of these so called ALtcoins are useless and I pity some people because they will wake up one day and see that they Altcoin stash worth close to Zero. The level of investment in Bitcoin is so big and this can't be rival by any ALtcoin projects so far

"So far". Bitcoin market dominance is at a historic low of 34%, while ethereum continues to climb upwards. With Ethereum being faster, cheaper, better tech, smart contracts, etc, it is only a matter of time before Bitcoin loses the top spot.

[Milamol]

This is the present. But in future...
The crypto-currency world is going so rapidly that bitcoin suddenly can surrender. After this, the race of leading coins will starts. Then it will become even more interesting)

[Kakabawa19471947]

i donr see BTC used in day to day life it will be more or less digital gold, asset holding value where as some other alts with less fee and quicker transation time will have more daily use

[cat0ne0]

There is room for more than one crytocurrency.
Especially, a crypto will fit to one specific need.
Seeing the world ruled by only one crypto is IMO not going to happen.

[patt0]

We probably have multiple alts that one could consider as better version of bitcoin but as you're noticing, bitcoin is gaining more popularity and a fast growth. The price is not a measure of a coin success so what I'm referring to here is the the number of ATMs, exchanges, stores, services, and people accepting it.

So even If we have some people using alts currently because they believe they are better then bitcoin (which may be true), bitcoin is evolving and the development is super active and exciting times are coming. I honestly believe that this make alts useless (say, by the end of the year), your thoughts?

I completely agree with you. A lot of coins will be made completely useless with time, because they will eventually lose the edge they have over bitcoin. The coin that will lose more will probably be bcash. Although they still have better fees right now, that is not doing them any good, since I don't see any major adoption of bcash as a payment method. People are buying crypto to trade, or to save as a store of value, so the fees and transaction speed act more as a small annoyance, rather that the real tie breaker feature.

Also, as soon as bitcoin get the lightning network, it will completely outperform bcash, and the majority of other coins that want to play a role as a payment method.

I think that the only coins that will survive, are the ones that are no directly competing with bitcoin (like ethereum for example).

[Zarbout]

I think Bitcoin reach this price because it's accepted and used in many places like you mentioned. All alts are related to Bitcoin because it's the final way to cash out your funds in any other cryptocurrencies.

[paxmao]

We probably have multiple alts that one could consider as better version of bitcoin but as you're noticing, bitcoin is gaining more popularity and a fast growth. The price is not a measure of a coin success so what I'm referring to here is the the number of ATMs, exchanges, stores, services, and people accepting it.

So even If we have some people using alts currently because they believe they are better then bitcoin (which may be true), bitcoin is evolving and the development is super active and exciting times are coming. I honestly believe that this make alts useless (say, by the end of the year), your thoughts?

You are right in a way. I am into alts much more than into bitcoin, but I do make a difference between coins, utility tokens and dividend tokens. Of these, only coins and utility really need adoption, and some of the utility tokens don´t need a lot, as their value is backed by services.

 Regarding Bitcoin in the incoming year, while I really hope the best for bitcoin, as hodl some, for the moment it has shown a less than ideal ability to deal with the disagreement in its own community and a very slow implementation of the latest developments along with a centralised (large mine) governing group and lack of consideration for the everyday user.

To sum up, either Bitcoin moves quickly or Alts will make it irrelevant. As I am writing this, bitcoin is only 35% of the market cap.

https://coinmarketcap.com/charts/

[lolchina]

I do agree with you on this one,people seems to forget that bitcoin isnt done with improvement and when they are implemented it will make 99% of alts useles.For example lighting network is working on testnet for more then a month without problems and afaik there is even talking about implementing smart contracts on it,also atomic swap will happen soon2.When this changes hit mainet i wouldnt be supprised that we see btc going to 100k$

[thelemot]

We probably have multiple alts that one could consider as better version of bitcoin but as you're noticing, bitcoin is gaining more popularity and a fast growth. The price is not a measure of a coin success so what I'm referring to here is the the number of ATMs, exchanges, stores, services, and people accepting it.

So even If we have some people using alts currently because they believe they are better then bitcoin (which may be true), bitcoin is evolving and the development is super active and exciting times are coming. I honestly believe that this make alts useless (say, by the end of the year), your thoughts?

my opinion because bitcoin is the king of all coins, and people people know it is bitcoin. but do not rule out altc will compete depending on what is on offer altc like ATM in certain country. like bitcoins that already have ATMs in russia. and altc is traded on many exchanges like bitcoin. and one more total supply of people thinking more and more total supply the cheaper the price of the coin. so depends on the excess altc itself.

[OmegaStarScream]

Is bitcoin going to be instant and free like XRB? No.

Is bitcoin going to support smart contracts like ETH and NEO? No.

Is bitcoin going to pay you for holding it like NEO, VEN, XLM? No.

Is bitcoin going to pay you exchange dividends like KCS and COSS? No.

Is bitcoin going to be completely anonymous like XMR? No.

Is bitcoin going to have the business partnerships of VEN, ICX, WTC, REG, OMG?

Lightning network will it make it a bit faster and a bit cheaper. There's a hell of a lot more to blockchain technology than being a bit faster and a bit cheaper.

1. The lightning network is going to process millions/billions of transactions per second and It's going to be instant and the fees will be so insignificant so yes. (and no, It won't make it "a bit" cheaper and faster)
2. Yes it will. RSK is under development and read this too: https://www.coindesk.com/greg-maxwell-taproot-bitcoin-contracts-life-after-blockstream/
5. I can't tell for sure as I'm not a cryptographer but there are definitely proposals (Confidential transactions, TumbleBit etc.) that are being worked on to make bitcoin more anonymous.
6. It's a decentralized network so what is a definition of "business partnership" and with whom? I'm not sure that's an advantage.

As for holding and dividends then the bitcoin whitepaper clearly says "P2P Electronic cash system". It was never meant to give you dividends. My point is, a lot of things are coming to bitcoin which will make most of the alts useless, not all of them but definitely most of them because after all we have 1500+ crypto while most of them are never heard of by most of people.

[ovcijisir]

Is bitcoin going to be instant and free like XRB? No.

Is bitcoin going to support smart contracts like ETH and NEO? No.

Is bitcoin going to pay you for holding it like NEO, VEN, XLM? No.

Is bitcoin going to pay you exchange dividends like KCS and COSS? No.

Is bitcoin going to be completely anonymous like XMR? No.

Is bitcoin going to have the business partnerships of VEN, ICX, WTC, REG, OMG?

Lightning network will it make it a bit faster and a bit cheaper. There's a hell of a lot more to blockchain technology than being a bit faster and a bit cheaper.

The only positive thing that came with BTC in last time is lower transaction fees. BTC is still slow and I avoid it. Have most of my portfolio in alternative cryptocurrencies. ⭐️

[andthereyou]

Not totally useless. There's time that altcoins going up while bitcoin down or vice versa. For now all are going down because of bad news and we all know it's the norm. It will take some time to recover