Do you think "new" Alt coins & "Blockchain" based coins are good or bad for BTC?

[tailwate07]

Many people just stay in the negative news for the new altcoin. I think the new altcoin is good for bitcoin development. The community needs expansion and there must be many new altcoin so that the whole industry can expand faster.

New altcoins and blockchain based technologies are can not have a huge impact on the Bitcoin. Bitcoin has its own status and has been able to attract investors despite everything the other technologies offer. They have never been able to replace or outshine Bitcoin, and I do not think they will. Bitcoin has attracted so many money that it has gone beyond the galaxy of crypto that the rest of the coins just dream of.

[wxa7115]

Yes increased awareness is a thing but we should remember this that it will more or less decrease the number of investors available to Bitcoins is what I think..

Long before there was only Bitcoins and people had to invest in this only because there was no other option but now you do have a lots of options thus we should remember that with so many options the economic value of Bitcoins alone will decrease and the popularity too.

I'm not so sure of that, it is true that the more cryptocurrencies in the market the smaller the market dominance of bitcoin but we must remember that most of those coins are completely useless and at some point I really think we are going to see a massive disappearance of those coins leaving a smaller market in terms of the number of projects but with better quality.

[Snaic]

So that you do not think, but progress can not be stopped. We should not evaluate everything from the point of view of how this will affect the bitcoin. In my opinion, bitcoin was created for man, and not a man for bitcoin. We must consider technical innovations in terms of how this will affect a person's life. Therefore, if new technologies that create altcoyins with new good qualities are already invented, this is in any case good, no matter how it affects the bitcoin. If bitcoin wants to remain the leader of the crypto currency, he must quickly and on time improve, otherwise he can leave the market.

[Harrisonimo]

It is quite apparent that most people do make demands for the bitcoin most times when they need to buy the altcoin. A very sharp increase can be when a prominent and prospective  altcoin comes to the market. At Pre-ICO and ICO stage and also when it finally hits the market.

[Tylev]

If a new technology for altcoyins has already been invented, this is in any case very good. This is not so important as it will affect the bitcoin. The main thing is that this will be for the benefit of the technical progress of man. Bitcoin must adapt to new technologies and accept them, or it will be rejected. Such a law of the market.

[Twentyonepaylots]

--snip--
As far as, would these corporate coins add some value or be good for Bitcoin, this analogy might be flawed, but IMO, corporate coins would just be an extension of their corporate shares. Yeah definitely, shares to a cryptocurrency, the whole use case changes and importantly accessibility. It has been reported that Facebook is planning to launch their cryptocurrency.

I have no idea how the structure of corporate coins would be, too centralized or borderline decentralized, but IMO even with all the data/privacy/censorship issues, a Facebook cryptocurrency will get adopted,

I do not agree with you that Crypto currencies would be perceived as a share by the customers. I would rather compare the Crypto currency to some discount voucher or loyalty program points, than to shares. The customers will trade the tokens, but they will not own a share in the company.
--snip--

Alright. Lets consider them for a moment. I can't see them as being shares or as loyalty points either. The use case will be different for different companies using such private blockchains. In case of facebook what could they possibly do?
People generate content on Facebook. A lot of it. Facebook has recently received a lot of flak for letting user data be used for commercial purposes without user consent. If Facebook launches a blockchain based token, it may be a method for them to incentivize users for allowing their data to be shared.  Say you have a few privacy settings and you get points every week on your facebook activity. The more private you make your account, your stakes get lowered and vice versa. This'll give them a good excuse to keep using the data while the people get something out of it.









I don't think it'll be that great for bitcoin. You cannot expect a corporate like Facebook to care about decentralization or the economic paradigm shifting properties of Bitcoin. Mark Zuckerberg is a technologist himself but I guess, being a billionaire presiding over an empire does changes things. Those ideals get sidelined when you have are so well integrated with the system. Blockchain based products from such established corporations like Facebook or McDonald's may be a body blow to bitcoin. It is clear that the majority of users don't give a rat's ass about decentralization or any long term goals. All they care about is getting some dough.

You can expect the apathy to multiply manifold once such blockchains running on private servers gain acceptance. Most people will simply use them rather than try to explore the privacy and freedom related aspect of a truly trustless currency like bitcoin.

Last year, in Novemeber an article was published on Hackernoon titled, The Facebook Cryptocurrency that Mark Zuckerberg Should Launch. It was before Zuckerberg said that he was looking into Blockchain technology. One of the suggestions made by the author,

At some point, Facebook could link that supply of digital currency to the stockholders, so that the stockholders have stock as well as the currency, or Facebook could pay out the currency as a dividend. Even more extreme would be if Facebook gave the coin in proportional share to the stockholders and forgot about their stock altogether. Then, hypothetically, all users and shareholders would be joined together as the owners of Facebook, and any transaction economy that it creates.

Yeah, a bit absurd and considering the very centralized business model of corporations, definitely too far-fetched.

Apart from pre-mined, the article also mentions airdrops, Facebook launching their own exchange, buybacks, and a few hypothetical possibilities on how a big corporation like Facebook with more than 2 billion users could build their token economy and monetize it.

A couple of years ago, there were no decentralized alternatives to Facebook/Twitter, but we do have them now, although the userbase is too small. Decentralization is a paradigm shift, but the approach taken by most of the decentralized Blockchain projects to decentralize everything isn't going to show any immediate results, it's a slow process. Yeah, people who don't care about their data privacy, security would use centralized cryptocurrencies backed by the so called corporations, but those who care, now have the choice to use decentralized versions with absolute privacy and security, wouldn't they use it? And as more decentralized platforms targeting different sectors are built, more decentralized choices people are going to have, adoption will be slow, but ultimately there would be a parallel decentralized economy.

https://hackernoon.com/facebook-could-launch-the-ultimate-cryptocurrency-2e6a5b65665b

PS: Not vouching for any centralized shitcoin.

Any entry of other ALT coin have some effect on Bitcoin, People may divert their attention to this new coin posted on the treed, either way depending on the price value on ICO of the new coin investor might try some investment to it, But in general, it would not have a greater effect on Bitcoin, we seen this happened on the treed, hundreds of ALT coin now are available after its ICO, but if you look deeper into the market preview, some new coins price value are not moving upward. it only indicate that no matter how good is the presentation of such coin on the market if this is not accepted and gain market confidence, it will just die naturally.

[Lorence.xD]

--snip--
As far as, would these corporate coins add some value or be good for Bitcoin, this analogy might be flawed, but IMO, corporate coins would just be an extension of their corporate shares. Yeah definitely, shares to a cryptocurrency, the whole use case changes and importantly accessibility. It has been reported that Facebook is planning to launch their cryptocurrency.

I have no idea how the structure of corporate coins would be, too centralized or borderline decentralized, but IMO even with all the data/privacy/censorship issues, a Facebook cryptocurrency will get adopted,

I do not agree with you that Crypto currencies would be perceived as a share by the customers. I would rather compare the Crypto currency to some discount voucher or loyalty program points, than to shares. The customers will trade the tokens, but they will not own a share in the company.
--snip--

Alright. Lets consider them for a moment. I can't see them as being shares or as loyalty points either. The use case will be different for different companies using such private blockchains. In case of facebook what could they possibly do?
People generate content on Facebook. A lot of it. Facebook has recently received a lot of flak for letting user data be used for commercial purposes without user consent. If Facebook launches a blockchain based token, it may be a method for them to incentivize users for allowing their data to be shared.  Say you have a few privacy settings and you get points every week on your facebook activity. The more private you make your account, your stakes get lowered and vice versa. This'll give them a good excuse to keep using the data while the people get something out of it.

Crypto currency is Digital transaction on buying and selling in the crypto world, the entry of any New ALT coin have no effect on Bitcoin, the fundamental are solid, stable market price value,globally adopted, do not have a share value at stake,and can not be consider like a stock share on the market, it has a different identity on the market, its a digital coin with each own quality to represent.




I don't think it'll be that great for bitcoin. You cannot expect a corporate like Facebook to care about decentralization or the economic paradigm shifting properties of Bitcoin. Mark Zuckerberg is a technologist himself but I guess, being a billionaire presiding over an empire does changes things. Those ideals get sidelined when you have are so well integrated with the system. Blockchain based products from such established corporations like Facebook or McDonald's may be a body blow to bitcoin. It is clear that the majority of users don't give a rat's ass about decentralization or any long term goals. All they care about is getting some dough.

You can expect the apathy to multiply manifold once such blockchains running on private servers gain acceptance. Most people will simply use them rather than try to explore the privacy and freedom related aspect of a truly trustless currency like bitcoin.

Last year, in Novemeber an article was published on Hackernoon titled, The Facebook Cryptocurrency that Mark Zuckerberg Should Launch. It was before Zuckerberg said that he was looking into Blockchain technology. One of the suggestions made by the author,

At some point, Facebook could link that supply of digital currency to the stockholders, so that the stockholders have stock as well as the currency, or Facebook could pay out the currency as a dividend. Even more extreme would be if Facebook gave the coin in proportional share to the stockholders and forgot about their stock altogether. Then, hypothetically, all users and shareholders would be joined together as the owners of Facebook, and any transaction economy that it creates.

Yeah, a bit absurd and considering the very centralized business model of corporations, definitely too far-fetched.

Apart from pre-mined, the article also mentions airdrops, Facebook launching their own exchange, buybacks, and a few hypothetical possibilities on how a big corporation like Facebook with more than 2 billion users could build their token economy and monetize it.

A couple of years ago, there were no decentralized alternatives to Facebook/Twitter, but we do have them now, although the userbase is too small. Decentralization is a paradigm shift, but the approach taken by most of the decentralized Blockchain projects to decentralize everything isn't going to show any immediate results, it's a slow process. Yeah, people who don't care about their data privacy, security would use centralized cryptocurrencies backed by the so called corporations, but those who care, now have the choice to use decentralized versions with absolute privacy and security, wouldn't they use it? And as more decentralized platforms targeting different sectors are built, more decentralized choices people are going to have, adoption will be slow, but ultimately there would be a parallel decentralized economy.

https://hackernoon.com/facebook-could-launch-the-ultimate-cryptocurrency-2e6a5b65665b

PS: Not vouching for any centralized shitcoin.

[Slow death]

Do you think this is Good or Bad for Bitcoin, when this happens?

Well, let's look at the current state of affairs: do we currently have more regulation and the reason for so much regulation? high volatility, many ICOs created by many scammers. many people have lost a lot of money because of ICOs created by scammers, but at the same time that many people lose money because of ICOs created by scammers, many people get to know about bitcoin and many people sell their altcoins to buy bitcoin. So whenever a new altcoin is created even if it is shitcoin, it always benefits bitcoin, even the regulation benefits bitcoin... because it will be thanks to the same regulation that in the future we may have more rich investors investing in bitcoin because they will feel more secure.

[wantjokull]

If we stick to the bitcoin emotionally then obviously we will say that only and we wont like when some other altcoin will be getting more attention than it. We have to be very keen about the whole scenario and let go bitcoin if there is really an altcoin which is worth something or which is going to sustain the market and blockchain with its own investment. If that truly happens then why not support such coins as we have to keep the blockchain alive and bitcoin may die eventually as it gets older but we cant be too sticky to it when its time is done.

[Ilegendph]

I think these "Alt-coins" and "fluff blockchain" technologies have screwed up the whole thing. By now, the debate around bitcoin should have matured towards following points:

• Why governments and banks are so uneasy about a decentralized currency?
• What is it that makes them think that people transacting without the overhead of having to go through banks is an issue?
• How can a decentralized, transparent allocation of public funds can reduce inequality and bring more people out of poverty.

Instead of these mature and hard questions, we have this drama created by egoistic, greedy f***s everywhere who think they could be the next Satoshi or those who simply want to confuse more and more new people with cutting-edge sounding names and part them with their money.

Companies launching their own coins or similar paraphernalia to boost sales is nothing new. Things like points and coupons have existed for a long time. Alt-coins catering to a particular private organisation working on a private blockchain do not serve any purpose except being an easy, marketing gimmick.

The medium bitcoin has "Bitcoin: the network and the code" behind it. How do you replicate that level of network robustness and decentralization on some Alt-coin which comes up with novel Proofs-of-'whatever'? I think the alt-coins are bad for the ecosystem because they do not bring anything new to the table but instead, spread the focus of new users towards the race to finding the "next" bitcoin.

Without these gimmicks, people wouldn't be buying into all sort of crazy stuff hoping for it to grow because bitcoin has grown. Without them, the new wave of people too would have concentrated on the technology and tried to find ways for adoption through innovation. That kind of work has suffered when the majority of new people are interested in only investing, trading and flipping.

Ok, for the sake of this discussion let's forget one moment about these ShitCoins and focus on real coins with a actual use case. This is why I used the "McCoin" example, because I know this coin will have a actual network of users behind them that would use these coins as a currency and buy and trade it, because they want to use it. <Not purely for the speculative side of it>

Yes, I agree these ShitCoins adds zero value, but some of the coins with real world use case and big companies backing it, might add some value and the spin off might be good for Bitcoin.  

As long as the market is still the same- you would need to buy bitcoin to buy altcoins. There are still many places that don't have the direct flat currency to altcoin exchange.

Every coin the exists on market is a competition for bitcoin wether it useful coin or a shitcoin. Blockchain always improves and as a matter of fact there are altcoins that surpass bitcoin in functionality. People just can't buy this altcoins because its still not available for direct exchange to their flat currency.

[infested]

I think the immediate reaction from people invested into Bitcoin would be negative, when they hear that some new Alt coin or "Blockchain" based technology was launched. You immediately think that money will flow away from Bitcoin to these Alt coins and Bitcoin will lose investors.

Could a new coin attract new investors to the whole Crypto currency scene, that would not have invested, if it was not for this coin?

Let's say for instance "Mc Donald's" launch a new Alt coin, called "McCoin" and Billions of people starts to buy and sell these coins. What would the natural spinoff of this be? I think "increased awareness" of Crypto Currencies. A percentage of these people might start to trade other Alt coins or Bitcoin as a result of this. <Big companies will kind of legitimize Crypto currencies, because people tend to trust these companies>

Do you think this is Good or Bad for Bitcoin, when this happens?  

Most new people when they learned about BTC they saw the price and felt they missed the train. New Alts coming up starting very cheap (including ICOs) and constantly rising in value is what brings people in crypto. Almost none sane would invest in an overpriced asset at its ATH.

So imo alts are actually helping BTC by importing more people into crypto.

[bart_to_bart]

Bitcoin has such a large capitalization that for him all this is indifferent.

[kimochidesh]

I don’t think so the Altcoin have such an impact on Bitcoin. Bitcoin has been in operation since 9 long years and no Altcoin has been able to affect it, neither in good way or bad way. So many new Altcoins are being launched but I don’t see that they will have a substantial impact on Bitcoin. It is more affected by the demand and supply factors, manipulations by whales or the type of news in the market.

[ss890]

I think bad for the bitcoin. They will drive the investments toward the altcoins which are very good one. Thus taking the attention of bitcoin off the grid (theoretically). New altcoins always take aways many new investors as they find it buying them very cheap. Whether the project is good or bad thats not what they think in the first place but they just see them as the potential to profit as its cheap and can get hiked easily.

So in such instances if any altcoin come up with very good idea then it could really make things worse for the bitcoin. I think out of 100's coming every month there will surely be a coin which at least will be a threat to the bitcoin and will show the world BTC is not the only strongest candidate among the crypto.

[AnisahSiti]

this is great for bitcoin. meaning that the greater the investment that goes into bitcoin through the market. the more people invest into bitcoin, the more it will increase the value of bitcoin.

[Dudeperfect]

See each and every coin has its own philosophy and that's how it works. Bitcoin came up with the solution for the issue of slower transactions and higher cost. Ethereum came up with the solution of smart contracts to deal with the issue of trust (especially for the online transactions).

Thus, I don't think that altcoins can affect Bitcoin in any way as far as Bitcoin is dominating the market with its potential and user-friendliness. In fact, I do see growth potential in 8 kinds 2 but it won't affect the popularity of Bitcoin in any way.

[Daseento]

The emergence of other cryptocurrencies has been the sole reasons for the bearish movement of Bitcoin this year. So, I believe that it's bad for Bitcoin in the short run but on the other hand, these new projects has helped to promote the acceptance and adoption of cryptocurrencies generally. In the long, I believe that Bitcoin and other coins would coexist for better cryptocurrency solutions.

[andriarto]

I don’t think so the Altcoin have such an impact on Bitcoin. Bitcoin has been in operation since 9 long years and no Altcoin has been able to affect it, neither in good way or bad way. So many new Altcoins are being launched but I don’t see that they will have a substantial impact on Bitcoin. It is more affected by the demand and supply factors, manipulations by whales or the type of news in the market.

different with me, with the number of new altcoins, bitcoin market gets crowded so that btc demand is increasing, and this is one of the driving factors for rising btc prices, as we saw in 2017

[Magiklair]

To tell the truth, I have no idea how this can reflect the btc. As for me, btc is the best one and I am not looking for the alternatives. I think that btc will be the most wanted for long and it is the safest one

[Lagrood]

Currently BTC is a top coin and while there is no candidate which replace BTC soon.  BTC is not just a coin. First of all it is a brand which knows much people. Much money spended on advertisement of BTC. Secondly there are tremendous liquidity in BTC and there are a lot of investors and traders.
It is nice that altcoins are developing and appearing new ones but just right now they are not a replacement of BTC