BTC vs altcoins.

[buggrock]

Am pretty sure this topic has been discused before.

But BTC is king dingaling of the cryptocurrencies. Do any of you see any altcoins being as successful as BTC.

When eBay started, hundreds of other auction sites sprung up all over the internet who tried to capitolize from ebays success. None of those alt. auction sites are around today.

Could the same scenario be happening here?

Thoughts..

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[koshgel]

There will be alts that will be modify and enhance bitcoin so i dont think bitcoin will be the only thing dominating the market.  Potential for others like Litecoin

[beetcoin]

litecoin could be a nice investment. once bitcoin goes mainstream, i do believe there will be enough room for an altcoin like LTC. i think the hash rate is smaller, so the blockchain should be smaller.

[b!z]

litecoin could be a nice investment. once bitcoin goes mainstream, i do believe there will be enough room for an altcoin like LTC. i think the hash rate is smaller, so the blockchain should be smaller.

Bitcoin is gold, while LTC is silver. It sort of makes sense

[jackioflap]

I dont think thats a very likely scenario. BTC may be the top, may even stay there, but i think altcoins will actually be essential. Crptocurrencies have no nationality so anyone and everyone can use them. BTC cant handle the entire worlds needs. Even with mBTC and uBTC people would struggle to get ahold of much even at a 100k value. BTC will just be the standard that altcoins will try to live up to but they will be there to keep the market diverses and competitive.

With that said i do think that one day there will be a crypto that becomes the world currency. It will be a long time coming but eventualy everyone will use the same money.

[b!z]

I dont think thats a very likely scenario. BTC may be the top, may even stay there, but i think altcoins will actually be essential. Crptocurrencies have no nationality so anyone and everyone can use them. BTC cant handle the entire worlds needs. Even with mBTC and uBTC people would struggle to get ahold of much even at a 100k value. BTC will just be the standard that altcoins will try to live up to but they will be there to keep the market diverses and competitive.

With that said i do think that one day there will be a crypto that becomes the world currency. It will be a long time coming but eventualy everyone will use the same money.

uBTC could be used if 1 BTC becomes too expensive. That's a feature of BTC

[cloudnine]

To be honest, there really is no need for other alt coins because Bitcoin was designed flawlessly. Litecoin is a great alternative, the shorter transaction times does not necessarily mean safer. I feel like the people who are investing in alt coins are those who missed the early BTC wagon.

That isn't to say that it's a bad idea to invest in alt coins. My advice is to pay close attention to the exchanges and study the trends. Look for coins that are slowly gaining attention because even a small increase when they start out as pennies can turn into a substantial profit. I bought NMC for fun a few months back for cents, and now they are worth several dollars. Even though it's relatively cheap compared to BTC, NMC brought good profits.

But remember, day trading is a gamble.

[hobbster]

BTC has several flaws in usability like

• Needs a locally stored wallet
• Needs a lot of Traffic (at least at start)
• Needs a lot of calculating speed/power which could be used for better things
• Needs a lot of time and no transactions can be transferred back, gone is gone

I think btc has a high chance to be the #1 cryptocurrency for a long time because it is fuly established now, but it will lose to an alternative coin, that is secure and has a higher usability for all people, not only computer people, illegal activities, early adopters, investors/traders.

I just wonder which will be it

[erikdeman]

To be honest, there really is no need for other alt coins because Bitcoin was designed flawlessly.

You trolling?

Imaging paying for your groceries and waiting 20 minutes at the register for the needed confirmations.. Get out of here, that's not a flawless payment method

[tondaS]

To be honest, there really is no need for other alt coins because Bitcoin was designed flawlessly.

You trolling?

Imaging paying for your groceries and waiting 20 minutes at the register for the needed confirmations.. Get out of here, that's not a flawless payment method

You dont need to wait for small transaction for any confirmation. You dont wait months if the credit card get chargeback as well...

[Redcoin]

in a year or so, when BTC gets to $10k and crypto currency is normalized, lower value altcoins will be used for buying cheaper day to day stuff, while Bitcoins will be used for purchasing cars, houses etc

[aggster]

I agree transactions are too long, a nightmare if you want to do a time sensitive deal, some of the alt coins are a pleasure to use with hardly any waiting time at all

[Sindelar1938]

Long term only litecoin has a prayer

[Oldminer]

To be honest, there really is no need for other alt coins because Bitcoin was designed flawlessly.

Actually the reverse is true - other coins will succeed because Bitcoin is flawed.