Altcoiners, don't give up yet. Bitcoin can't do it alone.

[Sendi blackspade team]

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.

this is actually just a matter of demand from the market. when the market is still showing the demand for altcoin then they will survive, as well as bitcoin. the principle of their market that is sought after and desired by the market will surely get more attention from the public.
altcoin conditions will not continue like this, altcoin season will occur. it's just a matter of time that hasn't come yet. be patient and keep waiting with attention to market movements.

[DDante]

Its think that altcoins need to depend on their own and not on bitcoin anymore also this is the best way to make altcoins as good as bitcoin is today, im sure we will get there slowly but surely, as a matter of fact altcoins demand are still low compare to that of bitcoin

[wxa7115]

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.

There is no doubt in my mind that altcoins are necessary for the development of this market, bitcoin has to be a coin in which its development has to be slow because there are now billions of dollars invested in it and I have no doubt that in the future we will be talking about trillions of dollars, so the developers cannot risk to make a mistake that could cripple the confidence that investors have in it.

But altcoins do not really have that problem, they can try all kind of new solutions and models and see if they work, the problem is that many altcoins are not really trying to do that, the developers behind those coins are only trying to get money and become rich without bringing anything to the community and those are the type of coins that we don't need.

[LuckyBtc]

I'm not giving up on altcoins, They're giving up on me / us lol. I had never imagined altcoins could go as low as current price(Well, This is first time for everyone I guess). I'm prepared for anything that happens, I'll either make it or lose it all.

[crazy-pilot]

You're right, buddy. I don’t understand people who despair so quickly and stop believing in altcoins. This is a difficult stage for altcoins and for investors, but this stage will end. Let's wait for the market to recover. Let's see what happens.

[CryptopreneurBrainboss]

--snips--

But altcoins do not really have that problem, they can try all kind of new solutions and models and see if they work, the problem is that many altcoins are not really trying to do that, the developers behind those coins are only trying to get money and become rich without bringing anything to the community and those are the type of coins that we don't need.

And those are the type of project the bear market is out to eliminate, many investors don't see the good side of bear market, not only does it offer an opportunity to buy your fav projects tokens or coins at discount rate but it also offer the market an opportunity to eliminate worthless project just disguising themselves as profitable project under the bull market hype. When it comes to bear market, quality project utilize that period to engage in developing their project the more since there isn't much pressure from investors in regards to price value increase since everyone is aware of the market conditions.

But since worthless project has nothing to develop, their project dies off in the bear market leaving just the surviving projects to benefit from the bull market that follows.

[Bananington]

It's true that altcoins have contributed a lot to crypto space, although there are more of invalid altcoins than valid ones. I really think in future just very few altcoins will survive, those with real world use cases. Bitcoin alone can't do it alone, although 70% of my portfolio remains in BTC. I'm looking forward to seeing altcoins with zero fees, which solve scalability issues, extremely high TPS and other features backed by a valid project with real world use case which will be adopted mainstream.

[Leyss]

After bitcoin, a lot of other cryptocurrencies appeared, which are commonly called altcoins. The bulk of altcoins are tokens, which have very diverse narrow functions in various areas of human activity. It is unlikely that anyone can stop this process. Bitcoin gave impetus to the development of cryptocurrency. Altcoins are already stronger and are able to develop further with or without bitcoin. Therefore, altcoins will constantly appear and the worst of them disappear. According to probability theory, many of the altcoins will bypass Bitcoin in its development. It is difficult to say what will happen next, since the cryptocurrency is far from perfect and is developing rapidly.

[Jpti]

I do not think the crypto market will survive only on bitcoin without altcoins. Bitcoin and altcoins are two parts of a coin. So they cannot survive without each other. But seeing the market situation where only bitcoin is taking off, I am forced to believe that altcoin season will never come. It may be my illusion I wish.

[dudusix9]

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.

Totally not, ETH is leading by example and is so focused on platform development which is ETH 2.0 comparing it with BTC which has been stagnant for so many years but is still the King. There are alts in the market that are aiming to help mass adoption to get cryptocurrency/blockchain in a better place. Korea's biggest wholesale will already be utilizing blockchain to level-up their payment system and is better as it provides transparency. But at the same time, we can't blame people to give up on alts because of how many scam projects that participated since 2017.

The community just have to be patient in terms of the project's progress and at the same time, the projects who are well funded should do their part in maintaining a good reputation and delivering their promises.

[darewaller]

Yes, I agree with you that bitcoin cannot do it alone, and it is because bitcoin felt fiat cannot do it alone, that it came as an alternative to the fiat system, and this is how altcoins are also supposed to be an alternative, we can see how both fiat and bitcoin are functioning together to give a better financial transactions, but altcoins have failed us all in their own part.

We understand that we need some alternatives to bitcoin, but not in such a way that every project wants to establish a coin. if we need altcoins to assist bitcoin in its vision, I must confess to you that we really don't need more than 10 altcoins, same as we don’t even need more than 10 exchanges in the market, but you see majority of shitcoins and shit exchanges flooding the market because they are all after the money and not the help they want to render to bitcoin, so tell me why people would not give up on altcoins?

[CryptopreneurBrainboss]

We understand that we need some alternatives to bitcoin, but not in such a way that every project wants to establish a coin. if we need altcoins to assist bitcoin in its vision, I must confess to you that we really don't need more than 10 altcoins, same as we don’t even need more than 10 exchanges in the market, but you see majority of shitcoins and shit exchanges flooding the market because they are all after the money and not the help they want to render to bitcoin, so tell me why people would not give up on altcoins?

I would be concentrating on your exchange example but before than, lets take a look at the current fiat currency used around the world. Are they limited nope, all independent nation have theirs some even shared similar names like Canadian dollars and US dollars. Point I'm trying to make is, the cryptocurrency market is a free market and from my recent understanding of importance of the free market (in this past few days), it does contributes much more to the development of an industry. The more altcoins we have the more competition the industry will produce as a result benefiting the market in general.

As for your statement of the industry needing fewer exchange, I don't support that as it does no good to the development of the industry. Power will become centralized to very few exchange which will then dictate the affair of the industry (which we're already experiencing). Onces again the power of free market comes into play. We need as many exchange as possible to decentralized the distribution of power within the exchange industry.

[Golftech]

Yes, I agree with you that bitcoin cannot do it alone, and it is because bitcoin felt fiat cannot do it alone, that it came as an alternative to the fiat system, and this is how altcoins are also supposed to be an alternative, we can see how both fiat and bitcoin are functioning together to give a better financial transactions, but altcoins have failed us all in their own part.

We understand that we need some alternatives to bitcoin, but not in such a way that every project wants to establish a coin. if we need altcoins to assist bitcoin in its vision, I must confess to you that we really don't need more than 10 altcoins, same as we don’t even need more than 10 exchanges in the market, but you see majority of shitcoins and shit exchanges flooding the market because they are all after the money and not the help they want to render to bitcoin, so tell me why people would not give up on altcoins?

The percentage of shit projects is undeniable being higher than those who have good usage to work together with bitcoin, developers who envisions the realizations of their created projects and not stopping after listing inside the exchange. Those teams who have a broader knowledge with how the system works and how it will be usable to work along with bitcoin. There are projects that can move forward without relying with bitcoin, it's the product that being offered makes the project to continue and survive then achieved its goal inside this industry.

[Sebas.tian]

Exactly what many disagreed with that, Bitcoin can't live alone without the presence of altcoins, altcoins are the taxis on the high way of Bitcoin and will ride along with Bitcoin. Most investor are disappointed in some improper projects which they were scammed and stick to Bitcoin that they have known. My reason to come back into altcoins domain in 2019 was my investment in altcoins late 2018 MB8, this investment gave me hope for the future of altcoins. Bitcoin cannot do this alone, and must go along with altcoins, so, don't give up on altcoins.

[CryptopreneurBrainboss]

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.

I was just going through the comments again then realized I haven't replied to this post. You're right, feels like the market capitalization move opposite to bitcoin dominance Irrespective of bitcoin gaining some price value. When the dominance is high, total market capitalization of the industry reduces. That simply means Investors are taking money out of the market which proven my point once again that the industry can't survive without altcoins. Not just because of the utilities they contribute to the industry but also because of the wealth (inflow of money) they bring into the industry.

[seleme]

I do not think the crypto market will survive only on bitcoin without altcoins. Bitcoin and altcoins are two parts of a coin. So they cannot survive without each other. But seeing the market situation where only bitcoin is taking off, I am forced to believe that altcoin season will never come. It may be my illusion I wish.

l would really like to point out, by and large, l can not imagine altcoins without BTC or BTC without altcoins. It is a something chain reaction, in the crypto industry, there are two parts, BTC and altcoins. But l don't agree with your speculation and we must believe it that, altcoin season will come, it is my candid advice. It is not an illusion, it is highly likely that it will happen. Don't worry about it, a bit more patient. It seems it will take heaps of time.

[poornamelessme]

I was just going through the comments again then realized I haven't replied to this post. You're right, feels like the market capitalization move opposite to bitcoin dominance Irrespective of bitcoin gaining some price value. When the dominance is high, total market capitalization of the industry reduces. That simply means Investors are taking money out of the market which proven my point once again that the industry can't survive without altcoins. Not just because of the utilities they contribute to the industry but also because of the wealth (inflow of money) they bring into the industry.

In my opinion, BTC maximalists are just hawking their viewpoints because either they have a weird notion of how the marketplace works or are just looking for a short term gain. To them, BTC is all that is needed, and every other coin is a 'shitcoin'.

Which is a totally weird way to look at it. I agree, BTC probably wouldn't survive without altcoins, at least not as we know it currently. Where would volume come from? Where would crypto innovation? Or real world use (which admittedly even alts haven't done much of yet, but they tend to serve different functions than BTC)? Or hype?

BTC is compared to digital gold, and that probably will be its eventual function. But has anyone here looked at gold as an actual investment?  It doesn't tend to do the crazy parabolic hike thing, nor is there much hype outside of survivalists and late night infomercials over gold. So it's not exactly a world changing thing if btc becomes 'digital gold'. Yes, it serves a purpose, but it's not something folks will get overly hyped about.

And as a currency BTC is kind  of like using the worst debit card ever devised by man. Tons of alts would make better currencies than BTC.

So to those who feel BTCs should be king and that's it, alts not needed, I think either they are deluded or are looking for a short term spike and exit strategy.

[armarsterling7]

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.

  yeah i agree with your point. I believe that the altcoins market will thrive in the future. Because the projects behind those altcoins are very potential. Those projects will be very useful in the future. So, I think altcoins will thrive and become indispensable for the crypto market in the future

[lionheart78]

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?

Competition brings out the best on every participants, I am into giving every developer a chance to showcase what they got to overcome other competitors. More options, more choices and possible development will be available. At the end of the day, it is the investors and supporters who will decide what is best for them.  Though I am not trying to convince  you, it is just my POV.


Altcoin had been one of the pillars that supports the Bitcoin market.  Most of its campaigns leads to the advertisement of Bitcoin since most of altcoins are paired with BTC on the market.  Imagine a cryptocurrency with just Bitcoin in it?  Investors often looks for variation to take advantage of the trading system.  Though some is ok with fiat currency to BTC trades but we all know many of the community that get involved in cryptocurrency prefers cryptocurrency trades to escape financial institution's grasp.

[SolarWindMiningCompany]

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.

this is actually just a matter of demand from the market. when the market is still showing the demand for altcoin then they will survive, as well as bitcoin. the principle of their market that is sought after and desired by the market will surely get more attention from the public.
altcoin conditions will not continue like this, altcoin season will occur. it's just a matter of time that hasn't come yet. be patient and keep waiting with attention to market movements.

It's truly a matter of market demand. If there's a continuous need for altcoins, they will remain prevalent but I am not sure most of these cryptos will be around for long so I will be looking forward to seeing major altcoins offering smart contract services, privacy and stable coins becoming the foundation of contemporary crypto market