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

[mazdafunsun]

    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

Not realy, almost all of the altcoins are shitcoins, they dont take away anything from BTC, they are made just to make invstors belive that they will get their money back with some profit, that is it.
Other popular coins are private coins, these also are not a threat becasue decent vendors wont use them anyways.
Then there is protocol coins which have their own gae, which also does not impact BTC.

I see that the biigest impact of altcoins to btc ir that they are giivng BTC a bad name.

[1714865453]

1714865453

[mimienamphine]

Well, the existence of too many coins could lead to bitcoin been in tight corner as some of those coins could have great potentials of becoming higher in price than bitcoin. Unfortunately, most of these coins are not really showing any great signs of trying to give bitcoin any meaningful competition as bitcoin is still in the lead as the world number one leading digital currency. None of the many coins in the market pose any great threat to bitcoin as most dying out in the markets with zero or no volume in trading. The coins that are coming closer have a difference of about 4000$ dollars per token to be able to get closer to bitcoin which is impossible as far as the cryptocurrency world is concerned.

[JPSelzer]

For several years, there are various altcoins and every year the number is only increasing. So far, this has not affected bitcoin in any way. He was in the first place, so there still is. Perhaps in the future there will be a coin that will be able to compete with him, but so far there are no competitors.

[Gozmoc]

Altcoins' existence was birthed by the invention of bitcoin and bitcoin still stand taller than all the altcoin put together, so there's no need to panic. Bitcoin remains no 1.

[bitcoindusts]

The situation is totally reversed from your suspectaion. It is the Bitcoin which is the sole reason why most of the Altcoins and tokens are existing. Some of the altcoins are quite good with thier transaction speeds and low fee. But it is yet to be seen the wider acceptance of those altcoins. Some altcoins may co-exist with Bitcoin and we will see some losing people's interest and value along with it.

Truly, diversification keeps any ecosystem healthy. Such as fish, you find a pool of species of nearly all kind of shapes and sizes yet there remains expensive ones that sell well in the market. But no matter what, the interest of the people to have them does not wane with the multitude of choices.

And the same goes for cryptocurrency. Bitcoin will be the sought after caviar i guess. And all other altcoins are the rest of the sea creatures that makes caviar worth its price being incomparable in taste and being exotic as well.

[taguig]

They can co exist but i don't think they can surpass Bitcoin's popularity and volume at this point of time, every cryptocurrency lover starts with Bitcoin and they have to go through to what Bitcoin;s have gone through before they can surpass Bitcoin, but they can work together and co exist.

[metalglowd]

    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

threat bitcoin prices ?
Of course it can happen, even it doesnt impact the bitcoin directly.
But threat bitcoin existence till it got nothing ?
i dont think so

Even the sale of scam project can ruined all of target price of the market because people aim's to these project than invest it to the market

[SUDARMONO]

this year there are a lot of ico who are issuing coin altcoins, and in my opinion it will not affect bitcoin, and I think it is also good for the development of bitcoin.

[xuan87]

It can affect the bitcoin price on someway, the investors who supposed to be invest in bitcoin will become splitting their investment into alt coin, but it can't harm too much, because in the end people will back to bitcoin, and because of the abundance of alt coins that appear in the market, the altcoin become weaker

[Anderson_smash]

look at the history. it will tell you all you need to know.

we already have 9 years of history and in this period of time we have had tens of thousands of altcoins that have been created,

pumped and dumped and eventually many of them died.

there are years that they create more of them like last year since the altcoin pumping market is booming during that time but in the end

The fate of shitcoins is always going to be death and their short life and death will never affect bitcoin in any ways.

[umrohyuk]

Bitcoin price is not influenced by Alltcoins, it has own price which very strong and unique because it was created with good foundations. The price of bitcoin depends on the market demand and supply of bitcoin itself. It means that the holder of bitcoin influences the price. However, as the coming so many altcoins todays it has impact to bitcoin price because many investor are move or even spread their money in altcoins. So, when the number of investor of bitcoin is decrease automatically the price will high. It is not threaten, that is my opinions. 

[September11]

    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

This is a yes and no answer. On one side it is true that the investor's money is diluting in many new coins, on the other side the Whole crypto space becomes stronger by the fact that so many different coins exist. Diversity means an ecosystem, which is something with an added value.

[Al-e_x]

I think that bitcoin always dominates every transaction, for example, today many restaurants accept bitcoin, and reject other altcoins.

this proves that bitcoin is the parent of every altcoin, has great public trust, good credibility, and high bitcoin popularity.

[Cryptotissue]

Bitcoin has the highest market cap looking at the crypto market. Altcoins have no effect on bitcoin in terms of its market volume, cap and value price. Bitoin has no competitor in the crypto world. Most people prefer to do all their transactions in bitcoin.

[newmillennialkingdom]

I agree bitcoin is rising....

[iMark]

For several years, there are various altcoins and every year the number is only increasing. So far, this has not affected bitcoin in any way. He was in the first place, so there still is. Perhaps in the future there will be a coin that will be able to compete with him, but so far there are no competitors.

Yeah you're right every year there will be altcoins coming in and some other altcoins will fall because they can't compete and survive, but bitcoin will still be on top because everyone is comfortable and believes in bitcoin, they make bitcoin a major investment so the effect is not will be so big on bitcoin

[doodle07]

Altcoins and other shitcoins can never be a threat to bitcoin, in the fact that bitcoin is the king among all of the coins in the crypto currency. Bitcoin is the base and they will never be closer to it, it will remain on the top for a long period of time. Bitcoin has the greatest foundation and bitcoin has the influence to the price of altcoins.

[Angelaperry]

i don't think so. Even there are a lot of altcoin nowadays, they still can not threat to bitcoin's existence because bitcoin is becoming more and more popular. i think it is soon accepted worldwide.

[xbossJ]

There are too many altcoins already and bitcoin still maintains a dominance of over 50% what does that tell you!?? Altcoins are rarely heard these days! what you here is bitcoin, even ethereum that is a major force behind ICOs isn't heard as much! Too many altcoins will only drive people away to bitcoin, it gives $Bitcoin credibility and endears the people to it, when most altcoins are failing and losing the peoples trust! Home is always with $Bitcoin, not altcoins. $Bitcoin is popular that is why alts remain inferior, every noob to crypto heres $Bitcoin before anything else. You can have a million altcoins, it will only increase $Bitcoins dominance. they will never threaten $Bitcoin

[wnfakind]

Seem's like we are seeing less and less ICO'S over the past few months due to people actually facing criminal charges seem's to be stopping a fair amount of people trying to pull exit scams. This is good and sooner or later the market will ween out alot of the scam coins and junk coins without any project or use case. It will be nice to see which coin's come out in the end because bitcoin is not the only good coin out there. Some have other use cases and some already outdo bitcoin.. but it will not lose it's spot as top coin.