Bitcoin vs increasing number of altcoins

[pooya87]

In my opinion, the price wont go down just because of it, but it will grow slower than before, because money is limited and people have to choose.

Who would choose shitcoins though? These are basically cash grabs and pretty much everyone knows it. What usually happens is once when people are done making money with them, they dump and move their money (which had grown at this point) to Bitcoin. So maybe it could be said that they actually help Bitcoin growth? Lol.

It's true that legit ones could take money away from Bitcoin though, but they're very few and very far between. This isn't even necessarily a bad thing, because competition could also drive growth up.

Not all of altcoins are shit, but you can say that if youre too lazy to do some researches because most of altcoins are actually shit, but not all of them.
Do you even know there is a coin called Ethereum?

haha, ethereum is shittier than most of them combined.
it is centralized, it is not immutable, it is slow to sync, it is incapable of handling large number of transactions, there has never been a good and clear plan for its future, it was created with the purpose of pump and dump, it is premined, it has lots of exploits and bugs that have led to millions of dollars lost in multiple occasions, the official wallet has already had 2 major exploits leading to big hacks,....

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[bill gator]

it was created with the purpose of pump and dump

Care to explain this a bit more? I'm not aware of this.

they die and meat their inevitable doom.

Did somebody say meat? 

we currently have somewhere around 1500 altcoins instead of having 500,000 of them.

It certainly feels as though there are 500,000 of them. Where can I find a reliable source on the amount of altcoins in existence/circulation? It looks like there's about 1,500 altcoins announcing ICOs on this forum every month.

past 9 years bitcoin price was not affected by them in the long run!

I agree. They've certainly caused quite a few hiccups along the way though. It's almost like the altcoins are protesting while Bitcoin has the main stage just to grab a bit of attention. It's annoying, but the show must go on! I don't realistically see any altcoin threatening the price of Bitcoin long term, unless one of them finally brings an innovation or creative solution of some kind to the market.

[neo444]

I think when the price of bitcoin be high the price of altcoin will be automatically high so in contrary when the number of altcoins increasing her price depend on  price of bitcoin

[pooya87]

it was created with the purpose of pump and dump

Care to explain this a bit more? I'm not aware of this.

well that's my opinion based on what i have seen so far and the way it is advertised by the team...

they die and meat their inevitable doom.

Did somebody say meat? 

LOL, damn you second language

we currently have somewhere around 1500 altcoins instead of having 500,000 of them.

It certainly feels as though there are 500,000 of them. Where can I find a reliable source on the amount of altcoins in existence/circulation? It looks like there's about 1,500 altcoins announcing ICOs on this forum every month.

https://coinmarketcap.com/all/views/all/ is reliable enough. they usually are missing a couple of them and have a couple that shouldn't be in the list but 1574 (current count) is in the ballpark.

and here is the graveyard: https://deadcoins.com/

past 9 years bitcoin price was not affected by them in the long run!

I agree. They've certainly caused quite a few hiccups along the way though. It's almost like the altcoins are protesting while Bitcoin has the main stage just to grab a bit of attention. It's annoying, but the show must go on! I don't realistically see any altcoin threatening the price of Bitcoin long term, unless one of them finally brings an innovation or creative solution of some kind to the market.

yeah but the thing about bitcoin is that it IS the innovation itself! bitcoin is not some outdated 100 year old technology. it is the brand new tech in its infancy and it is also being improved with things like LN for instance.

[toolucky98]

In my opinion, the price wont go down just because of it, but it will grow slower than before, because money is limited and people have to choose.

Who would choose shitcoins though? These are basically cash grabs and pretty much everyone knows it. What usually happens is once when people are done making money with them, they dump and move their money (which had grown at this point) to Bitcoin. So maybe it could be said that they actually help Bitcoin growth? Lol.

It's true that legit ones could take money away from Bitcoin though, but they're very few and very far between. This isn't even necessarily a bad thing, because competition could also drive growth up.

Not all of altcoins are shit, but you can say that if youre too lazy to do some researches because most of altcoins are actually shit, but not all of them.
Do you even know there is a coin called Ethereum?

haha, ethereum is shittier than most of them combined.
it is centralized, it is not immutable, it is slow to sync, it is incapable of handling large number of transactions, there has never been a good and clear plan for its future, it was created with the purpose of pump and dump, it is premined, it has lots of exploits and bugs that have led to millions of dollars lost in multiple occasions, the official wallet has already had 2 major exploits leading to big hacks,....

And thats why its on top 2 marketcap and people are still using its blockchain, youre the smart one and many people are just dumb hue hue hue. Nice opinion professor 

[pooya87]

~
And thats why its on top 2 marketcap and people are still using its blockchain, youre the smart one and many people are just dumb hue hue hue. Nice opinion professor 

it is number 2 because your list of "top" coins is sorted based on a false factor called market capitalization. and it is there because in a blinking of an eye it created 72 million coins out of thin air and every day since its creation it has been producing ~30,000 per day in block rewards (currently 17000 per day).
exclude the premined coins and your "top" list will be rearranged with ETH in rank #5!

[toolucky98]

~
And thats why its on top 2 marketcap and people are still using its blockchain, youre the smart one and many people are just dumb hue hue hue. Nice opinion professor  

it is number 2 because your list of "top" coins is sorted based on a false factor called market capitalization. and it is there because in a blinking of an eye it created 72 million coins out of thin air and every day since its creation it has been producing ~30,000 per day in block rewards (currently 17000 per day).
exclude the premined coins and your "top" list will be rearranged with ETH in rank #5!

Yeah i said top 2 marketcap , not top 2 coins hue hue hue, rewrite the thing thats already written hue hue hue, you made my day profesor.

[GreatBug]

Hi all,

do you agree that the growing number of altcoins will eventually make bitcoin price go down since even small amounts of users money go to them?

Definitely no, cause bitcoin is a bitcoin and for me there is no chance that any altcoin can have anything to say about its price, is it individual thing in this case for me.

[birzh0]

well, number of altcoins is increasing - but quality?
although someones say that most coins has nothing to be represented. Even those which placed in top ...10 mb
shit borns shit