Can too many Altcoin's can become a threat to bitcoin's existence

[Ucy]

How about "Can too many Social media become a threat to Facebook existence?"
 Well, it kind of depends on Facebook ability to innovate, and the quality of the competing Social Media.


So, can too many Altcoins becoming a threat to Bitcoin?
  It also depends on Bitcoin users ability to innovate and  depends on the quality of the competing altcoins.   Principle is more important to Bitcoin  than just features. And I doubt any coin can easily surpass the price of Bitcoin though.

[Angna27]

For me bitcoin have a NAME now and nothing can surpass bitcoin, and we know bitcoin have dignity all around the world. Bitcoin now is unstable but i believe bitcoin will rise again before the end of this year. Many altcoins create but some of them are failed but bitcoin is still standing.

[paulk11087]

I certainly don't think they're gonna hurt the bitcoin. Regardless, all the coins in the market are affected by the bitcoin movement. That's why it's hard for them to let them go. I have not yet seen the existence of such a project.

[Bitkoyns]

I guess no because bitcoin is different even eth is different every coin has different and they have their own uniqueness the only threat from bitcoin is the investors that are diverting the investment because they see the market is better for a short period of time.

[wewe123]

Even how many altcoins surfacing in the cryptocurrency world , it will not be become a treat to bitcoin existence , from many years now bitcoin is battle tested and still it is existing in more popularity and gaining more trust from the investors and still rising to the top, so there is no need worry about bitcoin because it is maintaining the good position in the cryptomarket cap.

[blokceyin]

Not for the near future. They can only feed its prophecy. Bitcoin is the mother of dragons.

[aliza393]

Only if there are many altcoins that offer:

1. Better or equivalent security.
2. Better or equivalent liquidity.

Would love to know what the community thinks about potential competitors

[Callanta787]

Not at all, bitcoin stands on its own ,altcoins cant become a threat to bitcoin in any way and a matter of fact all altcoins have there differences too ,no matter what ,bitcoin will still be the last one standing

[dificanovi]

    More and more ICO projects are coming based on many major currencies and specially in this year the trend increased rapidly with many reputed organizations that are in various industries and trades decided to start there own digital currency to make there business more effective and efficient in order to gain more profit.
    Can these new launching Altcoin's make a negative impact on bitcoin's expansion in the future because we all know in order to increase the demand, usability and accessibility of bitcoin it should be widely use in most business areas but if Altcoin's take these opportunities how it can achieve its vision to become a widely used digital currency

so far I have not seen the negative impact of the many altcoins being created. I see the price of bitcoin always stands at the top of the price of altcoin, I also haven't seen an altcoin that can beat the price of bitcoin.
bitcoin has functioned as a payment tool in various countries that have received it, besides that some ICOs also accept the purchase of their tokens with bitcoin, so I think the price of bitcoin will be more expensive if more and more ICOs are created.

[0t3p0t]

    More and more ICO projects are coming based on many major currencies and specially in this year the trend increased rapidly with many reputed organizations that are in various industries and trades decided to start there own digital currency to make there business more effective and efficient in order to gain more profit.
    Can these new launching Altcoin's make a negative impact on bitcoin's expansion in the future because we all know in order to increase the demand, usability and accessibility of bitcoin it should be widely use in most business areas but if Altcoin's take these opportunities how it can achieve its vision to become a widely used digital currency

Nope! Altcoins will remain Altcoins and they are not a threat to Bitcoin as they are created on different platform, purpose and of course the so called adoption. Bitcoin has been dominating years after years and I don't see a single Altcoin that is strong enough to eliminate or make Bitcoin crash. Ethereum is the closest Altcoin when it comes to marketcap but it doesn't possibly mean that it will beat Bitcoin in  the next days, months or years but it needs much time for Eth or Altcoins to dominate Bitcoin.

[maianh09]

Most coins are regular copies of bitcoin, they do not carry anything new, what threat can they make?

I agree with your opinion. Altcoin is a replica of Altcoin that has its ecosystem, such as Ethereum, NEO. Since it is a copy, it can not intimidate the main entities so why should we fear it, it can make an impact on Bitcoin?

[raking]

Most trading platforms use Bitcoin as their base currency, leading many investors to buy and sell Bitcoin to sell and buy Altcoin. When Bitcoin started a strong rally, many Altcoin fell, as investors jumped on Bitcoin and vice versa. This is systematic because most of the trading platforms require Bitcoin to trade rather than legal currencies.
Also, when Bitcoin prices drop or increase compared to legal fees, all Altcoin also increases or decreases. Because the Altcoin price is based on the Bitcoin rate, not the exchange rate with legal fees. The value of an Altcoin compared to a certain currency is the value of Altcoin compared to Bitcoin, followed by the Bitcoin price when compared to the legal currency.
Thus, Bitcoin has a very strong influence on market prices.

[Andrey13101991]

Currently, there are altcoins, which are technically more successful and more convenient than bitcoin, but the capitalization of bitcoin does not become less. It is still popular, so I think that the situation will not change in the future.

[Yaunfitda]

Currently, there are altcoins, which are technically more successful and more convenient than bitcoin, but the capitalization of bitcoin does not become less. It is still popular, so I think that the situation will not change in the future.

Yeah, there's a lot of altcoins out there that is quicker than bitcoin in terms or confirmation time, but they don't care because bitcoin has enjoyed a lot of support from all of us.

So in a nutshell, they can't really put a significant dent on the price of bitcoin. We have like more than 1000 altcoins already and counting but bitcoin remains the dominant crypto's.

[Fedor07]

No, I don’t think so . There are already to many altcoins and bitcoin is still the same , its not affecting bitcoin . There are a lot of coins with a hight value and still bitcoin is used more than all of those coins , why ? ‘Cuz people know what  to choose, they choose whats the best . If there will be more altcoin they are not gonna harm bitcoin , not at all. There are some altcoin out there which are better than bitcoin but still bitcoin is more used that the others.

[The.Bet.Group]

If anything, I think the increasing number of altcoins can help Bitcoin grow even further. Bitcoin is number one, and without it, the entire concept of decentralized payments will be pretty much non-existent.

[cc80aa]

I dont think so altcoin can be treat to bitcoin excistence because too many altcoin also are scam some are very low price some are stable price. I think no altcoin has sign to overcome bitcoin the latest is riple but if ever have altcoin surpass bitcoin i dont think so is for long but for me i choose the best no other than bitcoin..

[kyle999]

Bitcoin is the only one can manage its self's price because bitcoin is not dropping its price if altcoins dropping for their price and bitcoin is more than expensive for altcoins.

[goodluck0319]

a large number of Altcoins will still be converted to bitcoin sooner or later, so this is not a threat

[ichai]

    More and more ICO projects are coming based on many major currencies and specially in this year the trend increased rapidly with many reputed organizations that are in various industries and trades decided to start there own digital currency to make there business more effective and efficient in order to gain more profit.
    Can these new launching Altcoin's make a negative impact on bitcoin's expansion in the future because we all know in order to increase the demand, usability and accessibility of bitcoin it should be widely use in most business areas but if Altcoin's take these opportunities how it can achieve its vision to become a widely used digital currency

I dont think it will threaten the development of Bitcoin. You know, in order to thrive, the market needs to have many different altcoins catering to many different areas. Diversity will make the market more selective and make its value higher if the technology is good.