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Author Topic: Do you think "new" Alt coins & "Blockchain" based coins are good or bad for BTC?  (Read 349 times)
wantjokull
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August 05, 2018, 05:01:37 AM
 #101

All of them are good for bitcoin because they attract more money to the market which is good for bitcoin, they can't be higher than bitcoin in terms of market cap.


Yeah its completely true that they can not overcome the market cap of bitcoin at anytime. This is logical and can be proven from one important fact that bitcoin dominance is way higher than all the crypto currencies available out there. Dont you think that it is what tells that bitcoin will never go down in the inevstment and people will keep putting their money into the bitcoin rather than alts. The altcoins problem is that they are always liquid projects, some get success and some fails and thats why they are not affecting bitcoin at all. So it doesnt matter how many more will come.
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Gaurav11kb
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August 05, 2018, 05:21:25 AM
 #102

Bitcoin is dominating the whole market and it would keep doing so even in future. If many good altcoins come into the market, they'll too be traded with bitcoin pairs. To put money in any alt, first we have to put our money in Bitcoin and if popularity increases, so does the price. So, it can ve said that more numbers of good altcoins are better for the market, for us and they are surely better for thr future of Bitcoin.
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August 05, 2018, 07:45:29 AM
 #103

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?  

Well it depends on how bitcoin will see and handle these things. But for me, bitcoin should take these things as good opportunity to surpass its own own limits and surpass others.
MIZANUR5033
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August 05, 2018, 05:06:14 PM
 #104

Well, you just ask very interesting and curious question nowadays. Really people nowadays are very interested in the market. Once upon a time people directly depend on BTC but as many days gone new new coins are coming in the market are. Most of them are created by the companies which depend on BTC. So they are creating their own coins. The altcoin and the blockchain system is one of system which are in the market to complete the btc. Now the thing is to think that is it bad for BTC or good for it.so my opinion is very clear this is a not effect Bitcoin so much rather it gives Bitcoin to the prime position. So it's very interesting things that people are creating new block chain system and make BTC the best coin in the whole cryptocurrency market.
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August 12, 2018, 07:42:19 PM
 #105

This would always dependent on their demand, petty coins may have some negative impacts to bitcoin as it may taint some bad reactions and reputation generally to cryptocurrency most especially to those unaware people but there would be some altcoins which have some good usages and platforms hidden gems they've said that would be beneficial to bitcoin and other pairings of that specific coin.
These currencies really depend on market demand. People are interested in it and may be the ones who produce it to promote the market. But I think every coin must have a value for the user. For example, the currency is used to market games, or buy and sell books. And that is the essence of those coins.
chaoscoinz
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August 12, 2018, 08:49:47 PM
 #106

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?  
I don't know, I mean, what was the purpose of Doctor Nakamoto making the entire project open source? It seems like altcoins were encouraged. Bitcoin was most likely a proof of concept for the real innovation behind the madness, the blockchain. By making Blockchain technolgy a free to share code, it encouraged the startup of a grass roots community.
   If I didn't know any better, I'd say Doctor Nakamoto's experiment was successful. An entire economy is being built around blockchain projects.

Just my two cents!

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