B.Sc. Thesis: The threat of altcoins for Bitcoin's supremacy

[sgebbo]

Fellow crypto-enthusiasts

I need your help. I am currently writing my thesis (B.Sc.) about cryptocurrencies (as you probably guessed) and am struggling with getting some of the information I’d like to include.

Overall, my work consists of market- and coin-analysis to determine how Bitcoin’s supremacy is (or isn't) more and more threatened by altcoins since 2017 in regards to its core function as a currency (i.e. excluding tokens and smart contract stuff features that go beyond financial functionalities) and while there’s enough literature on market behavior itself (price determinants, volatility and apparently even strong market efficiency...), I struggle with direct comparison of some coins. Those largely based on the original BTC code (BCH, LTC) are rather easy to compare, but with some, I struggle (EOS, IOTA). And even with coins like BCH I’m not completely confident in my work. Is the sole relevant difference really the block size or am I missing something?

It’s pretty interesting to read the whitepapers (although it takes time as I study finance and not computer science...) but I can’t believe that there isn’t any material or comprehensive list out there where people compared the coins in terms of capabilities, speed and so on and did what I’m doing right now. I'm also open to engage in any discussion besides maybe one or two useful links that I'm hoping for as this topic is equally interesting and challenging, especially since I have a personal stake in this as well and rode the hypetrain all the way for the last two years.

[goldencrypto7100]

I don't think Bitcoin has much supremacy over other altcoins. Otherwise, altcoins like Ethereum, Litecoins wouldn't have such growth in the market. Though, it sometimes affects the price of other cryptos. But, it can be considered as a normal phenomenon.

[redrose8226]

It feels great when I see how people are engaging with crypto currency. However, as far as I'm concerned with Bitcoin, I don't think it will be a threat for the altcoins as the altcoins are growing independenly. But, altcoins need to have great potentials to deal or compete with Bitcon.

[butka]

I believe that bitcoin supremacy is not threatened, not in any significant way. Probably the main challenge is to identify where the strength of Bitcoin lies. And the obvious, or not so obvious answer is in the Bitcoin network and the people taking care of it. Look at its hash power, its stability, its uninterrupted operation.

Contrary to one may believe initially, Bitcoin's main strength is not in the code. Because the code is open source. Anyone can copy the code, change one or two things, and proclaim new coins. This we have seen in the past numerous times, starting with Litecoin, and so on.  

I struggle with direct comparison of some coins. Those largely based on the original BTC code (BCH, LTC) are rather easy to compare,

Sure, they are easy to compare because they are just a copy of BTC with minor modifications. But again, they don't have the strength of the Bitcoin network and its developers.

but with some, I struggle (EOS, IOTA).

They cannot really be compared, because their modus operandi is different. They have traded the decentralized, distributed features of bitcoin for a more centralized solution with increased transaction speed. But then again, we already have Visa if we want high throughput and high degree of centralization.

It’s pretty interesting to read the whitepapers (although it takes time as I study finance and not computer science...) but I can’t believe that there isn’t any material or comprehensive list out there where people compared the coins in terms of capabilities, speed and so on and did what I’m doing right now.

I haven't seen any that will contain a significant number of coins. There are lists, or something like infographics comparing 2,3, or several at the time. So when you have successfully compiled this list, don't forget to share it here.

[Silentsweeper785]

Bitcoin Cash is forked from Bitcoin. Bitcoin cash claims to have bigger block sizes that could perform fast transactions. The Bitcoin is a digital asset where as EOS tokens are the native currency of EOS decentralized application platform. Bitcoin uses the blockchain technology and IOTA uses the tangle technology.

[cryptocrabs2]

BTC is not a threat in the market for the altcoins to be honest. In fact because of BTC, we get to see more and better altcions who get to help us out when BTC is hard to attain.

[Bit poul]

There are very less data based on comparision of cryptocurrencies speed, strength .  so it will be little hard to work on that data but if your effort reach at your prospect then it will be an mark for cryptocurrency investors. In my idea, altcoin is enhancing in noticable ammount basically form last year but it cant beat bitcoin. There is possibility  that we can see a neck to neck fight but there is a less possibility of altcoins winning. Bitcoin have a stronghold in cryptocurrency & is volatility at the bottom

[glaccief]

Bitcoin is staying over the stack of cryptocurrency for its strong effeciency,  friendly chacreterstics and other facilities. Yes it as seen many bad days also but its much less then other cryptocurrencies. Bitcoin is much reliable as currency for most of the investors & benifactors.

[roueen]

First of all congratulations for your thesis as topic is moving from mouth to mouth for being most firing issue for few years. Altcoin is improving day by day at a niticable rate but I don’t think it can take over the place of bitcoin.

[blackmagic111]

No one is in threat here. To be honest, competition is needed so that not a single coin slags off and that the market does not become a monopolistic one. At the same time, even if BTC is the best one, other altcoins such as Stellar Lumens are doing very good too.

[syberwolfen]

I don't think Bitcoin has much supremacy over other altcoins. Otherwise, altcoins like Ethereum, Litecoins wouldn't have such growth in the market. Though, it sometimes affects the price of other cryptos. But, it can be considered as a normal phenomenon.

Yes definitely when comparing to other altcoins Bitcoin haa good exposure, people's always go with competitors to improve the market and to make famous. The only intention is to double the money and it doesn't mean BTC has low supremacy.

[BlackandRed654]

Good to see that you are writing your thesis on cryptocurrency. I think it is the right time to do such research on crypto space. Though I am not a expert but I would try to answer one or two questions of yours. The supremacy of Bitcoin's is never threatened by Alts. As for example you can check the market dominance of recent times. Total market cap of BTC is more than 50% right now.

[BigCookie]

Bitcoin's dominance or as you have mentioned supremacy was never challenged by any other coins in recent times. Though people thought ETH will be able to reach Bitcoin's popularity or price but none of that happened. The difference between the coins are not only based on how they are coded but also their utility and demand among the investors.

[ShutterTeeth]

It is presumed that the Bitcoin publicity is kicking the bucket and altcoins are putting forth elective incentives with regards to crypto contributing. The current DGB esteem may be route beneath BTC, however, the stage brags of its cutting-edge framework.

[BigCookie]

Though there are coins out there that can challenge Bitcoin or others in terms of transaction speed, fees, performance etc. but it is the trust of the investors and demand of the whole market that has put Bitcoin on the top of the list. Moreover, Bitcoin has definitely gained the first mover advantage in the market which is reflected through the market cap of BTC.

[GhostAltCoin]

One of the manners by which experts will point to the 'qualities' of Bitcoin when contrasted with its opponents is the 'Bitcoin Dominance Index' (BDI).

[MorningTradeNeo]

It is a good topic for a thesis most of the information had already included ,threatened there are difference in sole relevant in the blocksize. So for making the thesis complete it is better to do some research.

[overst]

One of the intriguing realities about any new crypto resource that is acquainted with the digital currency pool is that its prompt and later qualities are added to the aggregate market capitalization pool too.

[Nicolaus Copernicus]

you are on right track. you done the thesis about crypto currency that actually really great as well as by this you will know properly about the market. after completing your thesis hopefully you will be interested and able to join in this market.

[TurveyDrop]

There exist many altcoin like Ether, Litecoin, NEO, XRP which are trying to compete with BTC. Despite ATCs have made advancement over BTC in many respects, BTC still have strong supremacy and threat has not been that risky.