Will Bitcoin's Lightning Network destroys alt coins(currencies)?

[znaneswar]

There are lot of crypto currencies that were created to compete with BTC

BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
 
If lightning network is implemented in Bitcoin will it destroys these competitors?

[NeuroticFish]

There are lot of crypto currencies that were created to compete with BTC

BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
 
If lightning network is implemented in Bitcoin will it destroys these competitors?

If just one new feature of Bitcoin, like Lightning network, would make certain altcoins disappear, then those altcoins were nothing but useless clones of Bitcoin. However, some of those "devs", unless they bought pre-fabricated clones, may also add LN capabilities.

But in most cases LN deployment in Bitcoin network will have no effect on the altcoins. Just think: would Bitcoin LN make Monero less anonymous, or would make smart contracts in Ethereum, Waves, and so on networks work less good? Or would make HDD mining / storage less effective? No.


So, shortly, the real altcoins don't care what happens on Bitcoin network; the only one that could be affected would be the worse clone shitcoins.

[jambul_kribo]

There are lot of crypto currencies that were created to compete with BTC

BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
 
If lightning network is implemented in Bitcoin will it destroys these competitors?

maybe not only altcoin will die if lightning network fullly implemented bitcoin network.even visa or other convesional payment systme become useless.

[DFFanov4]

There are lot of crypto currencies that were created to compete with BTC

BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
 
If lightning network is implemented in Bitcoin will it destroys these competitors?

Of course, no.

[SlaveKing]

Not really. Definitely not all altcoins will be affected by it, maybe the ones that are not doing that well in the market.

[Insufficient]

If lightning network is implemented in Bitcoin will it destroys these competitors?

Not at all dude,  maybe other cryptocurrency will implement too that lightning network technology.

[jonalva]

This lightning network will help BTC to keep the place of dominating over the altcoins. But I think people will still be using altcoin because of the services they offer and of their low price compared to BTC.

[blackhawkeye1912]

Bitcoin lightning network will definitely boost the scalability of bitcoin as its transaction verification time will surely be shorten. But, not to the point of destroying other coins. Bitcoin and other coins are built with different functions in cryptocurrency. Also to take note that other crypto-technologies are working on the improvements.

[StringFire]

No, both are different from each other. There is no questtion about one cryptocurrency destroying another. Alt coin is the best option for small investor and the number of bitcoin is limited. So, there is nothing to worry about altcoins.

[CoinEraser]

There are lot of crypto currencies that were created to compete with BTC

BTC lightning network is implementing due to the scalability issues the chain is experiencing with high 'fees' and transfer times..
 
If lightning network is implemented in Bitcoin will it destroys these competitors?

I do not think that the lightning network will change anything about the existence of altcoins. They will continue to exist and they will continue to try to solve the scalability problem in other ways. As long as there will be Bitcoin, there will be altcoins too. 

[Ucy]

It is a possibility.
What use are fast Altcoins when the largest Cryptocurrency provides faster and possibly a better decentralized solution without breaking down or something.
Their chances of surviving depend on their ability to adopt very important and viable features that Bitcoin doesn't have yet

[AndreyBitTalk]

most likely they will continue to exist but will lose popularity, because of the greater investor confidence in bitcoin.

[tycsols]

I think it will boost bitcoin both as an asset and mode of payment when lightening network is implemented, regarding the value of others i think we should not worry about them all the market will benefit from the success of bitcoin so lets hope for the best.

[bulevarda ac]

No, both are different from each other. There is no questtion about one cryptocurrency destroying another. Alt coin is the best option for small investor and the number of bitcoin is limited. So, there is nothing to worry about altcoins.

.
I also agree with you because it is not possible to destroy each other, but who is the only one who is better with the potential that has the coin to make it easier for investors to run their projects, even bitcoin itself will certainly not be replaced because the bitcoin is the parent, maybe more precisely bitcoin only improves lack in scability and high transfer times.

[bellamente]

Bitcoin does not have smart contracts and this is one of the biggest shortcomings.

altcoins will evolve regardless of other crypto-currencies. These are tokens that function in separate projects

[Perfect35]

Some altcoins will still survive if it is implemented. There are still some very good ones that have the ability to withstand the competing power that might be presented before them.

[WolfRisk]

It wouldn’t mean the end of other altcoins but it might negatively affect the altcoins that follows the blockchain system of bitcoin. More precisely, we might see some of the forks of bitcoin go useless, for example bitcoin cash. Besides, we’ll eventually see many altcoins die due to poor performances and most of the altcoins are actually shit.

[Ereun]

Some altcoins will still survive if it is implemented. There are still some very good ones that have the ability to withstand the competing power that might be presented before them.

Because it does not rule out the possibility of people prefer to invest in products that have high prices even though the features are different.

[LilPancakes2]

When we suggest die , we merely mean capitulate into unimportance like the scam Paycoin that was supposed to destroy Bitcoin.

There will always be dumb money and credulous investors buying into these scams but these multicoiners will always be jumping on the newest speculative fad as well ignoring one of the most important reasons why Bitcoin was created.

A multicoiner undermines digital scarcity and your principle investment because one of the principle raison d'être of Bitcoin is to create digital scarcity and disinlfation instead of hyperinflation.

Altcoins will come and go and dumb money will keep jumping from one project to another

[Imoote]

I think if the network is implemented, BTC will not be destroyed because the BTC network itself is very strong so people still like it.