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Author Topic: Altcoiners, don't give up yet. Bitcoin can't do it alone.  (Read 878 times)
CryptopreneurBrainboss
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September 25, 2019, 09:51:59 AM
Last edit: November 20, 2019, 06:28:09 PM by CryptopreneurBrainboss
Merited by tk808 (3), ethereumhunter (1), SummerBliss (1)
 #1

The altcoin industry have lost some big percentage of patronizers due to the poor performance of the market in the recent months, this have cause so many enthusiasts to lose interest in altcoins in general thinking the cryptocurrency industry can do without them. There's no denied the industry can do without most of the present altcoins but cryptocurrency can't survive without altcoins been present in general. No disrespect to Bitcoin as it started the journey but the industry have grown beyond just bitcoin.

The achievement and development ethereum as a blockchain has contributed for the industry, if the industry had just bitcoin it wouldn't had recorded such developments. We can't do without altcoins, they have become a part of the industry. The sooner we realized that, the better the industry becomes. Don't misunderstand this post, I'm not advising against investing in bitcoin or encouraging investing in the present altcoins although, all I'm trying to say is, if you think the altcoin industry is going into exile, think again.

The altcoin industry is only going through a phase which won't kill it and as what doesn't kill you only make you stronger, the altcoin market will come out stronger as the good will be separated from the bad projects although bitcoin will always be a household name. Invests wisely and don't forget the best of the best altcoins are yet to be developed, the current ones I consider them to just be, test dummies, preparing the way for future altcoins.

What's your take on this, do you think the industry can survive without altcoins, that's just bitcoin been the only currency in the industry.

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September 25, 2019, 09:56:16 AM
 #2

The altcoin industry have lost some big percentage of patronizers due to the poor performance of the market in the recent months, this have cause so many enthusiasts to lose interest in altcoins in general thinking the cryptocurrency industry can do with them. There's no denied the industry can do without most of the present altcoins but cryptocurrency can't can't survive without altcoins been present in general. No disrespect to Bitcoin as it started the journey but the industry have grown beyond bitcoin.

The achievement and development ethereum as a blockchain has contributed for the industry, if the industry had just bitcoin it wouldn't had recorded such developments. We can't do without altcoins, they have become a part of the industry. The sooner we realized that  the better the industry become. Don't misunderstand this post, I'm not advising against investing in bitcoin or encouraging investing in the present altcoins although, all I'm trying to say is, if you think the altcoin industry is going into exile, think again.

The altcoin industry is only going through a phase which won't kill it and as what doesn't kill you only make you stronger, the altcoin market will come out stronger as the good will be separated from the bad projects although bitcoin will always be their king.  Invests wisely and don't forget the best of the best altcoins are yet to be developed, the current ones are just test dummies.

What's your take on this, do you think the industry can survive without altcoins?.

I think cryptocurrency will not survive without altcoins. As what I understood, Bitcoin is drawing it's strength from altcoins due to competition on cryptocurrency. For as long as altcoin exist even some or even most of them are not trusted by the public crypto industry will survive.

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September 25, 2019, 09:56:27 AM
 #3

Its been long since i have come to understand that bitcoin can't survive for long without altcoins, would have been a different case if bitcoin was created to be the mother of all chains, like been able to run other coins on bitcoin itself but without new altcoins there is no way for crypto to reach (its hoped) for milestone

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September 25, 2019, 10:01:57 AM
Merited by CryptopreneurBrainboss (1)
 #4



The value of coins is based on manipulation. That's why, for example, ETH can drop it's value 20% in 2 hours. WTH happened to see this? Did the technology failed??? the system was hacked or crashed??? Did ETH network get destroyed? What happened?? Well, what happened was that big whales and sharks wanted their profit.

Now, Would you invest 100€ on a bussiness that moves 1000€??? Yes, right?? Would you invest 100€ on a coin that you don't know how much money it wins with smart contracts??? Hell NO!!!.

What would happen if ETH devs said: Well, our Cap is 18 Billions right now, but our bussiness makes 30 billion. Well....lets invest!!!

But....which is the reason why ETH devs, and all the other coin's devs don't ever share the amount of profit their blockchain generates??? Obviosly, because that amount is ridiculously low.

Would you invest on a coin like ETH with a Cap of 18 Billion, with a 24h transaction number of around 13 Billion in value??? I´ll tell you the other way. Would you invest on a bussiness that moves 60% of the total value up or down in 24 hours?? HELL NO.

So....no do whatever you want. As this bear market consolidates, more and more investors leave. 95% of them, according to statistics lose money in this game. 95%!!!!!!!!

Deal with it. This market is doomed, and will not help any one with this.

BTC no more than 6k by end of 2019. ETH no more than 300$ by end 2019. Huge market manipulation, huge amount of scammers and hypers.
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September 25, 2019, 10:04:33 AM
 #5



As one in the past had said: The more the merrier! Altcoins are actually presenting the marketplace and the people many options or choices and at the end of the day which will eventually survive and flourish will depend on which got a good share of the actions. Of course, there are so many bad altcoins but then this is better than not having anything to choose from. As to the question if Bitcoin can survive without altcoins, in my opinion YES but it can be so lonely at the top.

 
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September 25, 2019, 10:07:15 AM
Merited by CryptopreneurBrainboss (1)
 #6

Straight to the cheese - of course, only Bitcoin can't keep the crypto industry going. This is evident in the way the market is, even right now. With Bitcoin dominance up to 67-70% yet the total marketcap is still below $300b. We saw how Bitcoin's dominance was depleted to around 40% in 2017 and how the market skyrocketed with most of the coins hitting ATH. Though Bitcoin is the pathfinder and leader here, it needs the altcoins to proper the market to greater heights.


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September 25, 2019, 10:12:04 AM
 #7

With the way i am seeing things now i belief that in the future bitcoin will run out of breath because of its decentralized based tech, regulations will have power over only centralized projects so all the centralized coins i know about are altcoins,i think altcoins have a better chance of surviving the future

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September 25, 2019, 10:32:17 AM
 #8

I'm not trying to bash Bitcoin, but guys we can can all see it' killing the rest of the crypto market. Not that we need to dump Bitcoin, but the fact remains that its' like crypto = only Bitcoin.

I said that more than once in many telegram groups & they probably called me " naif & stupid ".
Let's face it, everything evolves around Bitcoin, even legalization is about Bitcoin not crypto in general.

I can see shit load of great alts & cryptos that solves real life problem better than Bitcoin but they are doomed to failure just because the majority of the market is all about Mr. Bitcoin,most traders wanna trade only Mr. Bitcoin.

I'ma always in favor to see BTC dominance around 20% - 25% at most of the crypto, that way you'll differently notice how important other projects that solve real life problems are & how they solid enough.

What killed this market is that the majority of the money is in Bitcoin, yes it' the king, but if we wanna see a more healthy, stable investment atmosphere in crypto, BTC dominance should be taken down to 20 - 25% like i said so you start notice the rest of the cryptos.

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September 25, 2019, 11:24:41 AM
 #9

I hope that the trend of altcoins will raise now. After such BTC fall, altcoins should slowly begin to increase their positions on the market. More than 1,5 year has passed science the last bull trend for altcoins, it is slowly time to repeat the cycle.

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September 25, 2019, 11:28:21 AM
 #10

If bitcoin is the only crypto currency then surely it will never become usable in reality and also can't be imagined by any middle class human being so that altcoins presence is must for the bitcoin's future.But the only issue is scam projects who keep coming with new names everyday to steal money from the investors.

Investors need to educate themselves to get this issues done or else the scammers will stay here with the shit coin projects.

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September 25, 2019, 11:30:25 AM
 #11

Many altcoins are really helpful for the blockchain ecosystem, but I still think that most of them are still overvalued, they simply can´t have such value for their built infrastructure. Compare Bitcoin and Ethereum adoption.  Smiley

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September 25, 2019, 11:47:30 AM
Last edit: September 25, 2019, 06:27:29 PM by stazhao
Merited by bozo333 (1)
 #12

Both Bitcoin and Altcoin have their own market. Even though some shit coins are present in altcoin, there are some efficient coins like Eth, Ripple, Neo, Monero. So altcoin had their own percentage of supporters, traders and investors. Even though the price of altcoin is decided on the base of bitcoin fluctuations, altcoin like Ethereum was sustained as long as bitcoin from his origin.
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September 25, 2019, 11:59:11 AM
 #13

Without altcoins, bitcoin is dead too. I don't believe that altcoins are going to disappear. Some are surely disappearing, but not all of them. If people persist to only put money into bitcoin, everything is going to fall little by little, as blockchain companies are going to go bankrupt. And without any blockchain companies, bitcoin is going to die too.

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September 25, 2019, 12:09:32 PM
 #14

Altcoin is definitely needed for the development of crypto, this is very clear and indeed must be recognized. bitcoin cannot move on its own without mutual support between them. very convincing that altcoin will grow better in the future.

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September 25, 2019, 12:12:43 PM
 #15

Without altcoins, bitcoin is dead too. I don't believe that altcoins are going to disappear. Some are surely disappearing, but not all of them. If people persist to only put money into bitcoin, everything is going to fall little by little, as blockchain companies are going to go bankrupt. And without any blockchain companies, bitcoin is going to die too.
Bitcoin will definitely not die without altcoins, but I think that no one in this market, specifically large players(whales), will not allow the altcoins to die because now it is their main source of income

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September 25, 2019, 12:14:02 PM
 #16

This year was a really bad year for the Crypto market especially for altcoins.  It seems that very few altcoins survived the storm when BTC dropped dramatically by $ 2k.  BTC has mastered the market, and altcoin seems to have no chance to return, it's a pity unless there is a trend.

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September 25, 2019, 01:15:38 PM
 #17

The altcoin industry have lost some big percentage of patronizers due to the poor performance of the market in the recent months, this have cause so many enthusiasts to lose interest in altcoins in general

i disagree.
i believe the main reason why everyone (apart from newbies who only care for money making) have given up on the altcoins has nothing to do with their price and its decline. but it is all about lack of any half decent project with any kind of innovation for a very long time. all we keep seeing is copies that are repeating the same exact thing under a different name.

i personally have been very enthusiastic about "Alternative CryptoCurrencies" but the more projects i checked out the more disappointed i got which is why i have given up on seeing anything good and my purpose in altcoin market is only to increase my bitcoin wealth by using them as tools for bitcoin-profit.

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September 25, 2019, 02:24:47 PM
 #18

Bitcoin and altcoin is a motor for the cryptocurrency even if in the cryptocurrency, many bad coins that will scam many people. But out of that, the cryptocurrency needs bitcoin and altcoin to increase, and both bitcoin and altcoin will still exist for a long time, no matter we like it or not. There will be many new people who want to join in the cryptocurrency as we know the trend will always change, the people will always change, but the money will still exist in the cryptocurrency.



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September 25, 2019, 02:42:29 PM
 #19

We need both altcoins and bitcoin to make the crypto market. Currently, due to the large market capitalization of BTC, the price of Altcoins still depends too much on BTC, causing the price of Altcoins to be highly volatile whenever BTC price fluctuates. In the future, when the inflows come to Alts, the Alt market will no longer depend on BTC as at present.

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September 25, 2019, 02:58:16 PM
 #20

The altcoin industry have lost some big percentage of patronizers due to the poor performance of the market in the recent months, this have cause so many enthusiasts to lose interest in altcoins in general thinking the cryptocurrency industry can do with them. There's no denied the industry can do without most of the present altcoins but cryptocurrency can't can't survive without altcoins been present in general. No disrespect to Bitcoin as it started the journey but the industry have grown beyond bitcoin.

The achievement and development ethereum as a blockchain has contributed for the industry, if the industry had just bitcoin it wouldn't had recorded such developments. We can't do without altcoins, they have become a part of the industry. The sooner we realized that  the better the industry become. Don't misunderstand this post, I'm not advising against investing in bitcoin or encouraging investing in the present altcoins although, all I'm trying to say is, if you think the altcoin industry is going into exile, think again.

The altcoin industry is only going through a phase which won't kill it and as what doesn't kill you only make you stronger, the altcoin market will come out stronger as the good will be separated from the bad projects although bitcoin will always be a household name. Invests wisely and don't forget the best of the best altcoins are yet to be developed, the current ones I consider them to be just test dummies, preparing the way for future altcoins.

What's your take on this, do you think the industry can survive without altcoins that's just bitcoin been the only currency in the space.

As far as I am concerned, we really only need around 2-3 cryptocurrencies of the following five types;

1. Pure cryptocurrencies, e.g. Bitcoin, Litecoin and BCH
2. Stablecoins, e.g. Tether, Circle and Libra
3. Smart contract coins, e.g. ETH, TRON and EOS
4. Privacy coins, e.g. Monero, BTCP and ZEC
5. Corporate liquidity tokens, e.g. Ripple and Stellar.

Overall, that means there should be around 15 cryptocurrencies. Can anybody convince me otherwise?

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