Bitcoin needs to die

[skelethon]

I don't think it necessarily needs to die but is going to do so anyway, at least when and if eth takes over it.

[kloinko1n]

He will die. It's unavoidable. His place will be occupied by other crypto-currencies that will be able to solve his problems. So it will become much more valuable for people than bitcoin itself

[ujinice]

I also think that bitcoin should leave the stage and not interfere by to the growth of altcoins.

[Nilda]

That would be like saying that the English language would die, the dollar would die or blondes would be extinct. Most of the people I convinced to invest in cryptocurrency hold only bitcoins, not interested or don’t care about all the others. Bitcoins demise would surely be a big blow, if not, the death blow to cryptocurrency.

[rajatjain]

That would be like saying that the English language would die, the dollar would die or blondes would be extinct. Most of the people I convinced to invest in cryptocurrency hold only bitcoins, not interested or don’t care about all the others. Bitcoins demise would surely be a big blow, if not, the death blow to cryptocurrency.

That is exactly different than a english language, dollar or blondes for that matter. Bitcoin was cool but how do you justify a transaction fee of 8 dollars at the current prices and going up whenever bitcoin goes up! Not everyone deals in huge quantities of bitcoin so when a person wants to buy a crypto and use it to buy a product or transfer it to their preferred exchanges for like say 100 dollars, they are paying 8 dollars and are made to wait for 2 hours or even a day in some cases.
i am not saying bitcoin should crash immediately but should phase out soon.

[Andrey123]

Bitcoin does not owe anything to anyone!!!
He has a completely different goal, which has not yet been achieved.
There was not yet a single coin that could grow when bitkoin feel.
These are all pathetic parodies.
Bitcoin will die if there is no Internet on the whole Earth.
But all other coins will disappear.

[Fileiro]

Well, some of us trade altcoins PRECISELY BECAUSE of the massive gains possible in crypto.

If you can't stand volatility just invest in a money market fund and be done with it.

[lenj]

I dont see any reason why bitcoins need to sacrifice and paved way for other almost 1500 alternative currencies to survive. If all things being equal and bitcoins die for another currencies to lead, what will happen to the new dominating currency, lets assume is Ether. It means sooner or later ETHer also need to die for other currency to dominate?

I do agree with you. Its crazy i think. None of them need to sacrifice itself because all of them have chance to lead without waiting bitcoin to die.
Bitcoin has no reason to die if thats because to protect the other unuseful altcoin and token.

[vk279]

Bitcoin will remain top dog of cryptos for the foreseeable future as there is no other crypto yet to take its place. There are many issues like transaction time, fees, speed etc. but Lightning network is coming which would aggregate and simplify transactions which in turn will reduce transaction time fees etc. This will solidify Bitcoin's number one place even further and with its supply of only 21 million would make it more valuable.

[rommelzkie]

Bitcoin will remain because she is the mother of all crypto currency. if the mother dies all of its children will die too. in the near future bitcoin will become a solely storage of wealth for all of us.

[Tylev]

The Crypto currency is only now developing and is practically making its first steps so far. So far, really a lot of new coins and their peg to the dollar and the euro goes either through bitcoin, or through ethereum. However, over time, more coins will become known to people and with the expansion of the crypto-currency infrastructure, it will be possible to create new pairs of pegs. In order for them to appear, there is no need to destroy bitcoin, just crypto currency should further develop so that the crypto currency, through which it will be possible to exchange, becomes more. New coins will still appear and for them you will need a crypto currency such as bitcoin, or at once a lot of such crypto currency, through which you can exchange them for fiat.

[Kryten12]

Have to disagree with your op there is room for everyone in the crypto space. Bitcoin does a great job leading the way and is the coin that ost people will first hear of and no doubt try to purchase. As more money comes into the crypto space it will spread out to a greater variety of alt coins.

[anavir]

it is unreasonable to let bitcoin to die...i agree that there is a room for every cryptocurrencies..other currencies was introduce because of bitcoin...many people knew about crypto through bitcoin and i think many of us also won't agree to let bitcoin die..

[bbc.reporter]

Bitcoin, the original cryptocurrency, the currency which paved the way to create a whole new market worth billions now and trillions soon has finally lived its days and given enough reasons as to why it needs to die and that too soon in order for the crypto market to survive.

Bitcoin is one of the few currencies which people buy from their local currencies on the exchanges. Because it is pegged to dollar, euro, etc it is the currency which goes up and down from the perception of people about bitcoin and its value. If bitcoin goes to 20000 dollars it is due to many people are spending 20000 dollars from their banks to acquire that bitcoin. When bitcoin goes to 6000 it is because people are selling off that bitcoin to go back to their dollar in the bank. Till here it is pretty much basic trading knowledge, what happens next is what goes beyond the conventional trader knowledge.

Now come to the remaining 1500 currencies. Almost all of these currencies are pegged not to the dollar or euro but to bitcoin itself. There are few currencies such as ethereum and litecoin which are pegged to the dollar but these again are pegged to bitcoin . We see pairing of Litecoin as LTC/BTC too if we see LTC/USD or LTC/EUR. Same goes for ethereum. Either they are pegged to the bitcoin or to tether which is said to be the dollar value for the crypto market. We might see some exchanges pegging all the currencies to their own coin such as binance coin, kucoin as well giving value to their own coin in the process.

Because all of these currencies are for sure pegged to bitcoin, they are not free from the price fluctuation when bitcoin undergoes a price fluctuation. if bitcoin is at 6000 dollars and it goes up, there is a likely chance other currencies too improve but it is not a sure case since that own coin’s performance impacts it. However, it is not vice versa. If bitcoin goes from 20000 dollars to 6000 dollars, the entire coinmarket suffers its wrath. Because it is pegged to bitcoin like 1 coin may be 0.1 of bitcoin and hence it will try to maintain that 0.1 for most part of its trading and thus if bitcoin loses its value, the other coins loses its value even though the coin might be very good and has no issues with the tech or any bad news against it.

If any of us are investing in any coin, we are basically hoping the rise of that particular coin will be faster than the rise of bitcoin so we actually make some profit of it, otherwise no matter whatever coin we are investing in, it is just like we are investing in bitcoin only since it is following bitcoin’s price hike and fall at allmost all the times.

In order for all the 1500 currencies to draw their own legacy out, they need to ensure that not only they are pegged to the USD or the other fiat currencies, but try to ask the exchanges to bring in more trading pairs so as to limit the impact of just one crypto on them and instead distributing the impact on bitcoin, ethereum and litecoin. Ethereum and litecoin should argue that they do not want to be pegged against bitcoin but rather the fiat currencies in order to chart their own history.

If bitcoin becomes outdated then only we can be free from these massive dips and the massive gains which happen only and only because of perception of bitcoin!

You wasted 10 minutes of my life. Thank you.

[leland orser]

For the foreseeable future, bitcoin is still the leader in cryptocurrency markets.
Unless the quantum computer can crack the bitcoin private key, I think bitcoin will solve this problem as the technology continues to escalate.

[Odat]

I agree!. Bitcoin is holding back a lot of better coins. I think bitcoin needs to go so the others can flourish instead of these massive price fluctuations we are having.

[irukandji]

Bitcoin does not owe anything to anyone!!!
He has a completely different goal, which has not yet been achieved.
There was not yet a single coin that could grow when bitkoin feel.
These are all pathetic parodies.
Bitcoin will die if there is no Internet on the whole Earth.
But all other coins will disappear.

I MB blocks? Bitcoin is the walking dead. A zombie

[seek4dream]

I don't think the death of bitcoin will do anything good for the cryptocurrency.
Altcoins being traded in bitcoins pairs is not the reason they are dumped or pumped with bitcoin.
Even if all altcoins are traded in fiat pairs, people are inclined to see them as a whole.

[andthereyou]

OP, If Bitcoin die (though impossible), Ethereum will be your new culprit for the downtrend, etc. and you will create another thread that titled "ETHEREUM NEEDS TO DIE" and soon whosoever paired with altcoins. It will be unending cycle.   

[rajatjain]

I don't think the death of bitcoin will do anything good for the cryptocurrency.
Altcoins being traded in bitcoins pairs is not the reason they are dumped or pumped with bitcoin.
Even if all altcoins are traded in fiat pairs, people are inclined to see them as a whole.

So how long do you think that some of the better altcoins will take to free themselves from the pairing issues and we will see them move upwards despite bitcoin sinking when another retraction happens? Wouldnt it be wonderful to introduce fiat pairs and pairings with litecoin etc just to take the load of bitcoin. I feel bitcoin is getting value because of these altcoins only where people buy bitcoin because they need to buy those altcoins!