Altcoins delist and Bitcoin only

[princecharles]

Some services here in crypto only trust Bitcoin then they not use Altcoins now like example in Faucethub that very useful and helpful in the past with different cryptocurrency but base in government restriction then they can only run with Bitcoin and not Altcoins then now i read this news so i want to hear your opinion about this because i think in future we can only use Bitcoin

https://cointelegraph.com/news/coinfloors-ceo-explains-decision-to-delist-all-crypto-but-bitcoin-to-cointelegraph/amp

I believe the government has a valid reason for restrictions placed on the project to only accept bitcoin as a means of payment. Bitcoin is a well recognised cryptocurrency and I know some countries accept bitcoin as a legal tender.

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[Dickiy]

of course that is good news for bitcoin in 2020 and at the same time with the 11th anniversary and this will also be a big consideration for old or new altcoins to be even better, especially to avoid the many new deceptive altcoins that are certainly very big impact for investors, miners, marketing etc.

[JeffBrad12]

Different company different thinking, the coinfloor CEO has explained himself that he thought of other coin are not really necessary and bitcoin is already a solution while other than that is simply gimmick. Some people might said so and other could disagree.
However realizing it, many of altcoins aren't really proven and they are just gimmick although they might topped the market capitalization rank. so, to decide only accept bitcoin which is proven is not wrong.

[joinfree]

Not that the governments dislike the use of altcoins or anything of that sort but the reality on the ground is that most altcoins turn out to be shit and scams in the long run. Also, i don't know the kind of altcoins that were being used back then but i guess coins like TRON, ETH are cool to use and have a very strong community too.

[wajik-tempe]

The obvious truth is that most altcoin are not trusted because they end up becoming scam projects and as such may be useless to the holders that explains why bitcoin is always chosen as a means of payment and settlement of debt. Altcoin could easily be delisted from an exchange but I haven't seen an exchange delisting bitcoin.

It always depend on what altcoin that we've buy, if an altcoin with a really great potential to grow there will be no way to exchange to delist the coin as long as the coin have a decent volume. But i agree with you that new projects altcoin, most of them are not a good project and just enter the market for months and then they will be delisted, we should be more careful choosing what project that we will invest

[biddicoin]

This is unusual decision, I never knewn exchange like this one before
this decision can make profit of exchange decrease, bcz one of source of exchange income is from trading fee

more coins can make more trade too, if there is only one coin, it means lower profit from trading fee
but, whatever is that, I hope this would be good decision.

[Apened]

Some services here in crypto only trust Bitcoin then they not use Altcoins now like example in Faucethub that very useful and helpful in the past with different cryptocurrency but base in government restriction then they can only run with Bitcoin and not Altcoins then now i read this news so i want to hear your opinion about this because i think in future we can only use Bitcoin

https://cointelegraph.com/news/coinfloors-ceo-explains-decision-to-delist-all-crypto-but-bitcoin-to-cointelegraph/amp

We can use bitcoin itself actually but not really all of the altcoins in the market, as most of it are unproven but there are still a few of them that exist in the market and has been use by other companies. This news amd exchange is only applied on coinfloors and it does not mean other might go and follow what move does this exchange wants.

[riskyron]

As a unprecedented move it has gotten attention to the Coinfloor exchange. Except getting profit from dealing with Bitcoin solely, they may as well get more customers.

[dimonstration]

This is unusual decision, I never knewn exchange like this one before
this decision can make profit of exchange decrease, bcz one of source of exchange income is from trading fee

more coins can make more trade too, if there is only one coin, it means lower profit from trading fee
but, whatever is that, I hope this would be good decision.

It will be like a wallet, no longer a exchange as its only bitcoin and the only thing they can do is to convert it. It's really unusual. There are people who no longer believes in alts as many do exit scam or already lose in value. It can also because of the fact that alt prices moves depending on bitcoin performance.

[poodle63]

I think Bitcoin will not survive alone in the cryptocurrency market. Altcoin has started a lot of good and began to be accepted at various merchants. It takes time for altcoin to develop and I think Altcoin still has opportunities and places in the cryptocurrency market

That's right, if we look at the opportunities, there are still opportunities, because altcoin developers won't stand still in order to develop their altcoin in a better direction, and I also hope that altcoin can quickly find a good place in the cryptocurrency market.

The main problem is not so many coins or even ethereum itself still on its way to develop something that can solve the common problem, the majority of the developers are developing the same idea with almost the same roadmap too. They are putting scalability while we know that usability is much more needed these days.

[target]

So they delisted all because altcoins has not proven to have solved problems but are increased high fees in altcoins withdrawals like ETH?
They are also accumulating ETH in the process, how funny.

The exchange isn't receiving big amount of BTC volume and I guess this is an effort to increase it and part of the marketing. But they are going to be adding ETH once again once the transition to ETH2 will be over.

[Kambal2000]

This is unusual decision, I never knewn exchange like this one before
this decision can make profit of exchange decrease, bcz one of source of exchange income is from trading fee

more coins can make more trade too, if there is only one coin, it means lower profit from trading fee
but, whatever is that, I hope this would be good decision.

If that is what they think on their exchange then it is a good decision, for sure they think of this well, maybe they listed most shitcoins that's why. Hope that they can still earn from it although only Bitcoin left, maybe they are planning for a good plan wherein they can add other features to their exchange just like margin trading.

[duuuuude]

Bitcoin has always been and to this day shows itself quite well but among other things, there is more confidence in Bitcoin because a large infrastructure has appeared around it. Obviously, this cannot be said about most altcoins.

[StephenieDuong]

No i dont think we can only use bitcoin in the future. For now, most of altcoin are not accepted by gorvernments, but its ok. I think soon there will lots of option to use altcoin as payment method as altcoins are faster than bitcoin  and maybe more sercue. The only problem now, altcoin project need work with real company that can help them to be approved by gorvernments.

[vanya.pronin.1983]

I believe that the time of altcoins will come in the nearest future, because BTC is not able to do it alone. But the whole situation is pretty disappointing and 68 percent dominance makes me think that I might be completely wrong.

[Mianae]

In the future we cannot only use Bitcoin. The essence of cryptocurrency is the projects being fuels by it. If these projects cease to exist the hype for Bitcoin will reduce as well. What the future holds is its ability to filter these cryptocurrencies according to their relevance to the world in the future only useful cryptocurrency will remain.

[JahriMeayer]

in the future we will not be able to use bitcoin anymore because if all bitcoin has been mined bitcoin transaction cannot be run anymore so there will be a substitute for bitcoin. this is still my opinion, correct if wrong

[Wysi]

The obvious truth is that most altcoin are not trusted because they end up becoming scam projects and as such may be useless to the holders that explains why bitcoin is always chosen as a means of payment and settlement of debt. Altcoin could easily be delisted from an exchange but I haven't seen an exchange delisting bitcoin.

This is true to an extend but there are genuine and better altcoins as well and you can taken example of Ethereum, Litecoin and Tron just for your reference and I personally feel like coin is much better than bitcoin when it comes to payment transfer and this is based on real time experience.  We cannot term most of the altcoins as scams just because of recent projects which are turning out to be scams.

[TastyChillySauce00]

As an idea that is good but please see the real condition right now. If only bitcoin use it, network will crowded and fee for every activity will rise in high level. Altcoin is solutions for this problem and can be use as alternative income if bitcoin has negative movement. See altcoin as opportunity not problem that we need to destroy.

Having many altcoins for an alternative when it comes to remittance is a good thing, but for someone to believe that bitcoin is the only thing that can be trusted and is trusted, it all come down to individuals' mind. The news mentioned by OP is just about a company trying to delist the rest of altcoins simply because he has an idea about which coin is proven and which is not and it won't do harm to the whole cryptocurrency market even at the slightest.

[rmhuntley]

I also think so, but every crypto has its own function. It's a lot to say that the fore only Bitcoins survive this because Bitcoin is the King of crypto. But another altcoin I think there is also like Ethereum that works as a virtual machine that can run a peer-to-peer smart contract with a cryptographic cryptocurrency ether (ETH).