Does crypto need to step out of Bitcoins shadow? Opinions please?

[Retty]

Hi guys, just wondering about other peoples opinion on this.

In order for the world of Crypto to grow and be mass-adopted, do you think crypto needs to step out of the shadow of Bitcoin or do you think its the other way round and that people should scoop up Bitcoin and let it always rule the roost?

I only say this as any sort of negativity that Bitcoin receives, shouldn't really affect some promising projects and cryptos that are essentially doing their own thing and making their own progress- only to be pegged back by Bitcoin losing value!

Yes i understand that all cryptos are tethered to the price of BTC, but will it/should it always be that way?

[pxo.011]

Hi guys, just wondering about other peoples opinion on this.

In order for the world of Crypto to grow and be mass-adopted, do you think crypto needs to step out of the shadow of Bitcoin or do you think its the other way round and that people should scoop up Bitcoin and let it always rule the roost?

I only say this as any sort of negativity that Bitcoin receives, shouldn't really affect some promising projects and cryptos that are essentially doing their own thing and making their own progress- only to be pegged back by Bitcoin losing value!

Yes i understand that all cryptos are tethered to the price of BTC, but will it/should it always be that way?

well they are mobing out there is a lot of wallet that can convert bitcoin into other coins even usd or local money so that is why i think they already moving out on the shadows.

[hatshepsut93]

There are no promising projects, all new coins are just copies of existing ones, thousands of projects have already promised to solve all the problems that Bitcoin has or bring some new features, yet no one has actually achieved that. Almost no one actually uses altcoins, especially those that are below top 20. If some talented people are actually interested in decentralized systems and peer to peer networks, they should be working on expanding Bitcoin, adding features like sidechains and smart contracts to allow Bitcoin to deliver promises made by other coins. It's better to have one coin secured by all the PoW in the world and thousands of nodes that can do everything, rather than have hundreds of small, unsecured and specialized networks.

[KevenDabid]

The cause of the market fall because there was too much altcoin, most altcoin don't have any value, just hype, but these tokens, taking up most of the Crypto money market, it is totally unreasonable.

[cryptohunter]

lol bitcoin is crypto

[BQ]

There are no promising projects, all new coins are just copies of existing ones, thousands of projects have already promised to solve all the problems that Bitcoin has or bring some new features, yet no one has actually achieved that. Almost no one actually uses altcoins, especially those that are below top 20. If some talented people are actually interested in decentralized systems and peer to peer networks, they should be working on expanding Bitcoin, adding features like sidechains and smart contracts to allow Bitcoin to deliver promises made by other coins. It's better to have one coin secured by all the PoW in the world and thousands of nodes that can do everything, rather than have hundreds of small, unsecured and specialized networks.

Are you talking specifically about coins that are intended to replace the functionality of Bitcoin?
there's tons of those, and none of them can ever achieve the same decentralization as Bitcoin, because nowadays, people jump on any ICOs or if there's no ICOs, they get in early on the mining and thus can amass a large amount, which people weren't aware of with bitcoin. so, unlikely to see any crypto replace bitcoin..

but if you're talking about crypto in general, then I can't understand what you're saying -
there's tons of great crypto that are made to fund/create/work as an underlying payment token for new types of systems (not work as a currency).
those definitely has their reason to exist. not all, but there are many fields Bitcoin isn't covering, and will take decades considering the current update speed..

to reply to topic, I don't like that Bitcoin moves the market and I think we need to decouple from Bitcoin.
Bitcoin can (and likely will remain to) be #1, I don't really care about that, but it has too much power for the (currently) application field it has..
but I guess we'll see this change when the market picks up, think about it - crypto as a whole has 1/3 the market cap of one singular tech giant (like Apple),
yet there's 100 Apples in crypto.

[crypto3644]

you can never get cryptocurrencies from the bitcoin shadow because bitcoin works as fiat money for the other cryptocurrencies, in all exchange you need bitcoin to buy another crypto.

[dbshck]

Hi guys, just wondering about other peoples opinion on this.

In order for the world of Crypto to grow and be mass-adopted, do you think crypto needs to step out of the shadow of Bitcoin or do you think its the other way round and that people should scoop up Bitcoin and let it always rule the roost?

Should be the other way around. Honestly, my impression so far is that most altcoins are just being used as a tool for speculative trading. Sure there are some outliers that actually useful like Ethereum but most are just meant to make gains from crazy speculative trading. Devs pre-mining a coin, ICO organizers take a lot of stakes, pump and dump, market manipulation, that's all I see from most altcoin so far. If crypto ecosystem wants to grow, people need to move on from these things, forget about getting rich quick with a 100x coin, and focus more on things that actually work and have real impact: Bitcoin.

[PayneCharity]

I want the crypto to step out of the ball of bitcoin. altcoin prices are heavily dependent on bitcoin prices. If this continues to happen in the future, people will probably never invest in altcoin

[SvonioneFromMangoCoinz]

I do not want bitcoin to control the price of the market. There are lots of potential coins, but falling bitcoins will lead to falling coin prices. I need a reasonable solution so bitcoin will also grow like another coin

[rosepetals]

Hi guys, just wondering about other peoples opinion on this.

In order for the world of Crypto to grow and be mass-adopted, do you think crypto needs to step out of the shadow of Bitcoin or do you think its the other way round and that people should scoop up Bitcoin and let it always rule the roost?

I only say this as any sort of negativity that Bitcoin receives, shouldn't really affect some promising projects and cryptos that are essentially doing their own thing and making their own progress- only to be pegged back by Bitcoin losing value!

Yes i understand that all cryptos are tethered to the price of BTC, but will it/should it always be that way?

I think these altcoins that existed were adopted by masses because of bitcoins concept that most cryptocurrencies will grow in the right time.Bitcoin gain adoption and this was the reason why altcoins has been also accepted.

[Juggy777]

NO! It shouldn't Bitcoins is cryptos and cryptos is bitcoins, I know there is alt coins but it's not that great when you compare it to bitcoins, I don't really like any cryptos other than bitcoins, even after all the beating and take down it just bounces up and up. I'm in love with bitcoins for it's strong character and can't imagine a world of cryptos without bitcoins.

[gentlemand]

I think it would be healthy for things to completely decouple.

There are things that are attempting to do what Bitcoin cannot and should not do. There's no particular reason why they should be tied to each other in terms of value and market action.

A prime example of this is XRP. How on Earth did it manage to wind up lumped in the same markets? There's no reason for it to be there in the first place. It's older than Bitcoin and is in no way an actual cryptocurrency.

What all of it does underline is that hardly anyone is in this for noble reasons. They're using all of these projects as a vehicle to extract more dollars and they don't care how it's achieved.

[jseverson]

Nope. It's a free market. People will use the best crypto available to them for the most part. It just so happens that, all aspects considered, Bitcoin is the best crypto available at the moment. No one let Bitcoin rule the roost either -- the market did that on its own. You can't force inferior coins on people.

The price movement has more to do with all cryptos being speculative assets people use to earn money rather than Bitcoin being in the spotlight. Exchange hacks and/or regulations that have nothing at all to do with Bitcoin also affect its price negatively after all. I don't think this will change until the general public starts using them for their actual utility, because they're pretty much all the same to them at the moment.

[robaya]

I do not want bitcoin to control the price of the market. There are lots of potential coins, but falling bitcoins will lead to falling coin prices. I need a reasonable solution so bitcoin will also grow like another coin

this is very unusual happen, still hold your assets. the decline in value of bitcoin is very reasonable to occur within a certain period of value will grow back. bitcoin does not control the market price, but the market is again in a bad state, it also happens to other coins.

[LyQaN]

Bitcoin still has dominance over market over other cryptos ,though bitcoin has fallen its dominant nature remains mainly because of few reasons,1.trust of people as its oldest and 2.familiarity as compare to other crypto's. as long as these are prevalent other crypto's need more work to finally some day cross it , i think there is no shadow as you talked about because it basically how any economy work ,more value among people,more its popularity and production .and other crypto's which might not be able to work independently are working because they can be converted into bitcoin value , maybe they could surpass once they start wide spreading.

[wilburwilbur]

Hmmm it is not bitcoin who should step out to the shadow but the people who are using it. But that is not enough, people who does not have an idea about bitcoin should be given right information about bitcoin and other cryptocurrencies. After that, the government will come and embrace the future with bitcoin
If things go smooth then little by little the world will use bitcoin as an alternative payment to goods and services

[THATBTC]

lol bitcoin is crypto

yep, if bitcoin can't get the popularity at global level, any coin can

[Coffee135]

All coins are separate projects. They are not tied to bitcoin. Bitcoin is only an indicator of the value of all cryptocurrencies. The prices of all cryptocurrencies act simultaneously with the price of bitcoin only at first glance. But this is not always the case. It all depends on the General trends in the cryptocurrency market.

[Prodigan786]

Even it looks like other projects independently in crypto world like ethereum is having its own blockchain also ethereum value determined by number of projects involved in ethereum network also decentralised exchanges were increasing value but once bitcoin price drops all other coins price are dropping no matter how potential this coins are . I don’t see any coins can move independently without bitcoin shadow in near future.