Bitcoin making alts useless

[dyline]

There are hundreds of altcoins out there, with more appearing out of nowhere every day. Now that even die-hard Bitcoin aficionados are realizing that Bitcoin itself has a number of technical issues, they are rapidly jumping ship to various altcoins that purport to solve the problems with Bitcoin.

[Sir mikolo]

This doesn't make any sense to me. I would think that most people who are invested in alts, especially alts outside the top 10, would be educated about cryptocurrency and realize that Bitcoin is an inferior product for almost all uses. Why would Bitcoin declining make its competitors less valuable? If anything, it should make them more valuable since Bitcoin is getting out of the way.

[Mike1992]

Alt prices are tied into Bitcoin via trading pairs.
Hence, when Bitcoin drops, so do all alts.
People don't just decide to sell all their alts at once when Bitcoin drops, but when Bitcoin drops (or bitcoin rises drastically), alt prices will always be red as a result.

[Mikolo11132]

Alts ARE going down, though. Bitcoin against USD down; altcoins against USD down.
If only Bitcoin was going down against USD, and altcoins were staying the same against USD, they'd be going up against BTC. That's not happening. They're staying the same against BTC.
As a matter of fact, most altcoins MIRROR EXACTLY the percentage gain and loss as Bitcoin. It's as if a bunch of bots are buying/selling from an index fund. Here are some charts that I put Bitcoin superimposed over the chart of ETH and NEO, respectively. Bitcoin in USD (Coinbase) is the gold line. The alts in USD (Bittrex) are the colored candles. The chart is in % mode, so it doesn't go by dollar values, just % gain/loss since the left side of the chart.

[Kryten12]

Altcoins now have a whole raft of uses, many are actually being used to back the financial or operational side of rising companies. The price of Bitcoin is certainly restricting the rise of most of the altcoins although when the decline stops this alts should also climb along with BTC.

[malbterxic]

   That's what I think. The value of bitcoin is that he the first, there is no economy in the bitcoin.
Alts typically represent a demanded project, which will be of interest to a large number of people and will solve certain tasks.
Therefore I think that violas have their value, bitcoin its own.
Their dependence will only appear on the exchange.

[alexzorgo]

The cryptomarket is still young and the majority of coins has no real application. And those coins which are already applied still are widely not introduced in real economy. Therefore liquidity and capitalization - the most important indicators of stability and resistance to shocks in the cryptomarket. On these indicators only bitcoin always on the first place.

[ooxtcoo]

Bitcoin is currently have really big impact on situation of worth all the coins, so when he is going down - altcoins goes to, and altcoins have some impact on bitcoin, like if Ethereum goes up, as example, Bitcoin does some too.                     

[gareng1468]

we can not compare between btc & alts as they move in different flatforms, if they compare the bitcoin price that makes alt useless it is not entirely true because alts only need time to succeed. if btc is currently ruled because btc already has a market and has started well before alts. someday alts can definitely be useful and can be compare with btc.

[lelahkenabanned]

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?

yes you are right if the bitcoin price condition goes down it is certain altcoin prices will also drop so should not let bitcoin price down, but when the price goes down we can have the chance to buy as much bitcoin as we can. so take advantage of the opportunity.

[anahata]

Bitcoin is now highly manipulated by biggies. I do not know what it stands for now.

[InfiniteGrim]

Thats completly not truth, bitcoin makes altcoins stronger cause it is the reason why so many people even come in cryptoworld, all knows bitcoin as main of that all            

[tulpash]

Yes, altcoins follow bitcoin, but is this bad? When bitcoin grows, then almost all the altcoins grow. I think that in the future some altcoins can make a worthy competition to bitcoin, especially the high hopes I get from ethereum. 

[f0rzef]

Too many altcoins can not get the same capitalization as bitcoin, because they will always be dependent on the overall dynamics of the market.

[cryptonaut]

It is necessary to understand that while the market is too young, and BTC in it is a peculiar model of behavior, which all imitate. It may change soon, but it is so.

[kllondd]

It is necessary to understand that while the market is too young, and BTC in it is a peculiar model of behavior, which all imitate. It may change soon, but it is so.

[borovichok]

Too many altcoins can not get the same capitalization as bitcoin, because they will always be dependent on the overall dynamics of the market.

Yes, so far, but bitcoin will not always be the main coin in the market. It will give way to another coin someday, but of course it will not happen in the next couple of years. At the moment we see how the parameter BTC Dominance gradually grows, it means that the funds from the altcoins flow into bitcoin.

[xarly1]

In fact, there's nothing wrong with that. Who will be able to become an independent project and an alternative to BTC will become. Others will fall off. Natural selection...            

[BitcoinLoan]

In fact, there's nothing wrong with that. Who will be able to become an independent project and an alternative to BTC will become. Others will fall off. Natural selection...            

Perhaps, someone is meddling with the markets (for example by spoofing all major coins on major exchanges). This might possibly cause all the coins to fall in line and would explain why they are often in-line, but not always.

[Zabrielle]

Of course not. At least you have options aside from doing bitcoin. Altcoin is good just like bitcoin. So there is nothing weong if you both of these two cryptocurrency.