josephrioveros123 (OP)
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October 14, 2019, 07:56:28 AM |
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What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?
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MATHReX
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October 14, 2019, 08:05:43 AM |
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See, in the hypothetical situation where there is no other cryptocurrency than Bitcoin.
We would have never reached the potential that we have today for the cryptocurrencies because it was not just the BTC but so many other alt-coins that made news and spread the word about it.
Moreover, the TPS of BTC is so low that it would never reach mass adoption because even here, the higher TPS alt-coins made it possible to use cryptocurrency for day-to-day purchases and transactions, thus reaching mass adoption.
So, the price wouldn't be high but very low.
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TheUltraElite
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October 14, 2019, 08:10:59 AM |
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What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?
Then it would be same as what fiat is today. People would decide on a price for different articles in the marketplace and buy then as per their needs. The only thing is that deflationary supply makes it rise in price and inflation would not happen. Prices of stuff would decrease in the long run instead of increasing, because the bitcoins are being rarer. But it does not mean that if such an economy would exist then another currency would not come into view. Gold and precious metals would always exist and they have a bustling market as well. In the absence of fiat, what you hypothesize of, precious metals would become similar to money tenders. |
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Ailmand
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October 14, 2019, 08:18:55 AM |
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I think bitcoin price or the demand for bitcoin would not reach as it is today. Bitcoin reached this point because there is competition, developers are pushed to develop projects further because of competition to gather more attention from investors, thus it create more demand.
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ChrisPop
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October 14, 2019, 08:24:16 AM |
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I don't think the existence of other cryptocurrencies has a major impact on the Bitcoin price. After all the Bitcoin dominance is at around 70% of the total crypto marketcap. That indicates that altcoins only represent 30% of the market. However the "extinction" of altcoins would bring some funds to the BTC cap, but not so much that I'd call it a big influential factor.
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gandame
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October 14, 2019, 08:24:30 AM |
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What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?
I think if there ni other altcoin butcoin will goes up the price because they are focusing in one crypto that is bitcoin. All there attention goes to bitcoin so the price will go up because i think they will be buy more bitcoin and keep it. |
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Astvile
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October 14, 2019, 08:29:06 AM |
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Bitcoins price will surely not the same as today, it is sure that price will be higher because investors don't have any choice to pick if they want to invest in cryptocurrency because there is only one and its bitcoin. So surely the demand will overflow that will cause bitcoins price to rocket up in a stable and fast phase.
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goto22
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October 14, 2019, 09:23:48 AM |
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What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?
No altcoins would mean no ICO fever. That would mean no increase in prices, no new investors coming into the crypto space, no surge of BTC, and no coming out of the shadows. Bitcoin maybe wouldn't even be alive today if there were no altcoins. |
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Genemind
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October 14, 2019, 09:28:31 AM |
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I don't see any competition between altcoins and Bitcoin so if ever there's no other currency except for Bitcoin, I believe that it would still stay as it is today or the price could even get higher because most investors will focus only on investing in one digital currency. There will only be a competition between bitcoin traders. There will be a higher demand which could affect its price positively.
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kayvie
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October 14, 2019, 09:43:05 AM |
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Bitcoins price will surely not the same as today, it is sure that price will be higher because investors don't have any choice to pick if they want to invest in cryptocurrency because there is only one and its bitcoin. So surely the demand will overflow that will cause bitcoins price to rocket up in a stable and fast phase.
It is possible, all the demand will go to bitcoin where there is no other cryptocurrency to invest with. Its price will be unimaginable. But it is also impossible for bitcoin to increase its price. Altcoins are created to use as an alternative of bitcoin and without having an alternative will be a different matter. Its demand won't increase this much because altcoins take a big part in bitcoin to increase its demand. |
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Mandoy
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October 14, 2019, 09:58:19 AM |
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If there were no altcoins today then it is already self-explanatory. Bitcoin will already hit 100k dollars if there are no altcoins since all the funds that will be thrown on the altcoins will be focused and centered on bitcoin. I have no doubts about my claim since if you notice currently the bearish trend for bitcoin will also mean bearish flow for altcoins. This is a sign that people are really into bitcoins and without any altcoins bitcoin will be at 100k dollars or more.
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Yaunfitda
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October 14, 2019, 10:03:25 AM |
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What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?
Obviously, cryptocurrency will just put everything on bitcoin, but it's hard to say what will be the price though. Maybe we won't see much media attention to it so only few percentage of the whole population will get to know what bitcoin is. So in a hindsight, we might be in the say position right now or even lower if bitcoin is the only cryptocurrency in it's existence. |
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Kyraishi
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October 14, 2019, 10:09:42 AM |
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What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?
This is an interesting point of view. We've into really talked about what effect Bitcoin has on other altcoins due to the dominance it shows over the market. I would estimate it wouldn't have much of an effect - we don't see a lot of things from the altcoin world that actually affect the BTC price and we'd have more money in BTC (due to lack of options). |
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Shenzou
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October 14, 2019, 10:10:41 AM |
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What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?
Even though bitcoin and altcoins are all cryptocurrency, i think that they have a different audience or different way that people treat them, what i mean is that people invest in bitcoin and they hold it because they know that in the future the price of the bitcoin is going to be high, as for altcoin they invest in it in the intent that they will sell it or trade it as soon as they made certain amount of profit from it, and for that reason i think that even if bitcoin was the only cryptocurrency not much will happen aside from the fact that all those people who are investing and trading altcoin will migrate to bitcoin and that will boost the demand and also the price. |
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CryptoBry
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October 14, 2019, 10:16:28 AM |
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Competition brings out the best and worst in all of us and I think that can be said of Bitcoin as well...or rather with people who are working with Bitcoin. Had there been no other cryptocurrency but Bitcoin then we should expect that the demand for it will be so high as there is no official alternative it would just be like a big monopoly. Just like the fiat money, since a certain country would not entertain tow or more official currencies, the official one is where the development is taking place and will be used by all people at least within the said territory...had this happened to Bitcoin then it can easily rival that of the biggest fiat money the USA Dollar.
However, since we all love decentralization and deregulation, other competing cryptocurrencies and even tokens come into the market with many serving niches which may not be reached technically and technologically by Bitcoin. Hence, I would say that we have a diluted market. Right now, we are in a very saturated marketplace with so many coins and tokens vying for the interest, attention and money of the captured market. There is in fact the need for the expansion of this market so that growth can be visible at all fronts.
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Gozie51
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October 14, 2019, 10:25:26 AM |
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Bitcoins price will surely not the same as today, it is sure that price will be higher because investors don't have any choice to pick if they want to invest in cryptocurrency because there is only one and its bitcoin. So surely the demand will overflow that will cause bitcoins price to rocket up in a stable and fast phase.
Competition gives room to development. Bitcoin wouldn't have been where it is today if their were no solid altcoins like etheruem, monero , litecoin etc that are constantly growing in technology. Altcoin have brought a very good competition to the crypto market and that is why bitcoin too keep growing. Next year, halving comes and growth continues. Variety is a spice to life.  |
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febriyana
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October 14, 2019, 01:56:02 PM |
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If altcoin dissapear. Maybe Bitcoin also going crash.
Because if we see, the price of Bitcoin before also supported by altcoin, for example Litecoin.
So if no altcoin, there is a chance investor not interested about cryptocurrency. Because if only rely on Bitcoin, the inovation is really hard to build. Bitcoin with big fees also can make slowdown the transaction because there is a bunch transaction from people and exchanges.
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pecson134
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October 14, 2019, 02:11:25 PM |
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What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?
Competition in this kind of industry is not detrimental to the state of bitcoins but it is rather a healthy and advantageous condition. Competing with each other make it more challenging and gaining profit is more higher since there would be increase it money allotted on them and obviously not a one sided one. |
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The Cryptovator
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October 14, 2019, 02:16:33 PM |
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What if there is no other crypto currency or alt coin. How does it affect the price of the bitcoin. How high is the value of bitcoin in your opinion.?
How you are wondering for high price if there is no competitor? Bitcoin is valuable because it would be use for buy other currency, I mean trading. That's the most plus point for bitcoin and its consider as a mother coin. Now imagine, if a girl's no have children then who will call him mother. So Bitcoin would faced same situation. But yes most likely it would used like other fiat as said by other user as well. |
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Distraction
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October 14, 2019, 04:14:12 PM |
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In my opinion, there would be not much change for Bitcoin. Because I think the other cryptocurrencies does not effect the Bitcoin price. So, I think Bitcoin could be the same of now.
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