On most altcoins disappearing

[deisik]

As this topic is essentially about Bitcoin, not altcoins (as the tittle wily but deceivingly suggests), I think it is a correct board to start it in

Many of us are wondering what would happen if crypto vanished altogether (and probably having jitters at such a thought). Well, I'm not that cruel, and only propose to discuss the less evil problem, if a problem at all. That is, will Bitcoin as well as a few selected altcoins (say, a couple or so) benefit from the complete disappearance of the total majority of altcoins from the cryptocurrency arena?

As I'm inclined to think, a few remaining coins would benefit dramatically. My train of thought is as follows. We can  plausibly claim that Bitcoin would be far better off now if not for the huge pile of shitcoins that turned out outright scams at the end of the day. People wouldn't have lost their money in these schemes, and they wouldn't lose it if they invested it in Bitcoin instead. Simple and straightforward logic, right?

In the same vein it is natural to assume that the death of the altcoin world would eventually do only good to Bitcoin in the long run as people won't be losing money anymore. So what d'ya think?

[Finestream]

In the same vein it is natural to assume that the death of the altcoin world would eventually do only good to Bitcoin in the long run as people won't be losing money anymore. So what d'ya think?

I don't agree with it, bitcoin rise this high because of altcoins, so if altcoins will die, people may invest in bitcoin but will not be as aggressive as before.
The market is big, people are looking to diversify their investment and I don't see any reason why altcoins should be eliminated when they offer great idea and they are building it for us to use in the future.

[deisik]

In the same vein it is natural to assume that the death of the altcoin world would eventually do only good to Bitcoin in the long run as people won't be losing money anymore. So what d'ya think?

I don't agree with it, bitcoin rise this high because of altcoins

But what makes you think so?

Basically, you are claiming that many people who lost their money in scams (first in shitcoins, then in ICO's) somehow helped Bitcoin rise, right? To me, that looks like a very flimsy argument. Honestly, I'd rather say that it only hurt Bitcoin image as well as its price tag. You see, it is not enough to disagree with someone's opinion. You should actually bring some facts to the table in order to support your point of view. Or you could just say that you have a cartload of altcoins, and we would understand

The market is big, people are looking to diversify their investment and I don't see any reason why altcoins should be eliminated when they offer great idea and they are building it for us to use in the future

To tell the truth, I don't see altcoins as a means of proper diversification as it looks and feels more like stealing people's money

[samuraijin]

I will take a neutral decision on this thread, I agree that people go out of shitcoin that don't promise and even pile up their money there under huge losses, if they leave some shitcoin they can invest in bitcoin or other older altcoins that have more potential rather than shitcoin that is dead, I think it doesn't matter altcoin is dead if the project is dead and there is no visible life but not on altcoin which still has potential, basically altcoin also affects the price of bitcoin, many altcoins that die and become shitcoin are now largely abandoned by people are turning to investing in bitcoin

[mk4]

I do think altcoins disappearing will be a net positive for bitcoin in the long term. I think that it will make people realize that 99% of projects are just purely fluff, and what mostly matters is bitcoin. People are just creating blockchains for literally anything that it's beyond stupid. Think about all those scams that left a bad taste on people's mouths.

The market is big, people are looking to diversify their investment and I don't see any reason why altcoins should be eliminated when they offer great idea and they are building it for us to use in the future.

Diversifying your portfolio by investing in altcoins is still one of the most stupidest things that surprisingly, I'm still seeing in 2020.

[Finestream]

In the same vein it is natural to assume that the death of the altcoin world would eventually do only good to Bitcoin in the long run as people won't be losing money anymore. So what d'ya think?

I don't agree with it, bitcoin rise this high because of altcoins

But what makes you think so?

Basically, you are claiming that many people who lost their money in scams (first in shitcoins, then in ICO's) somehow helped Bitcoin rise, right? To me, that looks like a very flimsy argument. Honestly, I'd rather say that it only hurt Bitcoin image as well as its price tag. You see, it is not enough to disagree with someone's opinion. You should actually bring some facts to the table in order to support your point of view

This is only based on my observation, there's a lot of ICO in 2017 and that was the time bitcoin reached its new ATH, so that growth could be associated to altcoins whether people are scam or not, and I also believe that those who got scam will not gonna leave the market right away, they will learn and find bitcoin as a safe investment.

The market is big, people are looking to diversify their investment and I don't see any reason why altcoins should be eliminated when they offer great idea and they are building it for us to use in the future

To tell the truth, I don't see that as a diversification as it looks and feels more like stealing people's money

Don't generalize the altcoins, true that majority of them are scams but as the market is maturing, people will realize and like I said will learn from their mistakes. We can look at the market (https://coinmarketcap.com/) once again and we will see there are altcoins that are producing results and one of my favorite is the BNB, but at the same time I am also a believer of ETH.

I hope you aren't closing your mind on altcoins because you are hating them. I'm just stating the facts based on my opinion.

Diversifying your portfolio by investing in altcoins is still one of the most stupidest things that surprisingly, I'm still seeing in 2020.

I hope to prove you wrong at least 5 years from now.

However, if we are talking in 2017, I have already proved that diversifying in altcoins is a good strategy, you guys just won now because altcoins are struggling, lol..

[mk4]

However, if we are talking in 2017, I have already proved that diversifying in altcoins is a good strategy, you guys just won now because altcoins are struggling, lol..

It's a good strategy, if you got out immediately on the top of the bubble. Buying coins/tokens at the bottom and needing to sell at the top isn't "diversification". It's speculation/gambling.

I hope to prove you wrong at least 5 years from now.

I'm going to wish you the sincerest best of luck. You're going to need it.

[joniboini]

However, if we are talking in 2017, I have already proved that diversifying in altcoins is a good strategy, you guys just won now because altcoins are struggling, lol..

And what if they struggle forever?

Honestly, altcoins or not, as long as there is enough buy pressure (which means it has a product that is used by many) it will be okay. I'm pretty sure out of the thousands of altcoins that exist right now, most of them will disappear sooner or later.

[Getmon]

The death of so many altcoins will only mean funds being diverted into Bitcoin and those few altcoins on the top of ranks. I agree that Bitcoin and the top altcoins will be the ones that will benefit if the majority of the altcoins will finally die. The worth of all shitcoins combined would still reach hundreds of millions in USD. That amount will definitely be getting into Bitcoin and top altcoins out of disappointment from shitcoins.

[Finestream]

However, if we are talking in 2017, I have already proved that diversifying in altcoins is a good strategy, you guys just won now because altcoins are struggling, lol..

It's a good strategy, if you got out immediately on the top of the bubble. Buying coins/tokens at the bottom and needing to sell at the top isn't "diversification". It's speculation/gambling.

Yeah, I got out immediately but I will not lie, I am still holding some of the shitcoins you are talking now, but I should still be thankful because I made profit in my overall investment, just like gambling, you win some and you lose some, but what matters is you have more wins.

I hope to prove you wrong at least 5 years from now.

I'm going to wish you the sincerest best of luck. You're going to need it.

yeah, but I'm only referring to the rest of the altcoins I am still holding after the last bull run, and altcoins that I have accumulated post bull run.
Bitcoin is great but in every investment, you can't hold it forever, you also need to initiate properly to do the right timing to buy at sell, it just happened that altcoins are riskier but if you play the game right, you'll end up smiling in the end.

And what if they struggle forever?

What if they won't. No guarantee mate, the "what if" stands for either the risk and reward in crypto.

[jossiel]

The total market cap of those altcoins that will be exterminated will go to bitcoin and few alts that you're referring to. And obviously, this is beneficial for both of them but about the scams.

It's not just about scam altcoins but also those schemes that are using bitcoin to receive investments from their victims. The hyip, ponzis, pyramiding and other kinds of scams that are asking for bitcoin investments. There's no guarantee that they will not lose money if there are people in the community who are still not aware of these scams and can be a potential victim.

[d.kevin29]

I'd rather have every alt disappear than Bitcoin if I had to decide between the two. Having Bitcoin stand up as the only cryptocurrency surviving would determine everyone to focus on making Bitcoin better than ever before. Right now the focus is split in too many ways imo, there are so many alts & tokens out there I lost the count..

[Beparanf]

I'd rather have every alt disappear than Bitcoin if I had to decide between the two. Having Bitcoin stand up as the only cryptocurrency surviving would determine everyone to focus on making Bitcoin better than ever before. Right now the focus is split in too many ways imo, there are so many alts & tokens out there I lost the count..

Then trading will no longer be applicable once every alt dissappear. These will simply be like a bank when total supply of bitcoin reached if there's is no trading in the market will happen. I still choose to have some alt. But only those who are legit and with active team.

[mk4]

However, if we are talking in 2017, I have already proved that diversifying in altcoins is a good strategy, you guys just won now because altcoins are struggling, lol..

It's a good strategy, if you got out immediately on the top of the bubble. Buying coins/tokens at the bottom and needing to sell at the top isn't "diversification". It's speculation/gambling.

Yeah, I got out immediately but I will not lie, I am still holding some of the shitcoins you are talking now, but I should still be thankful because I made profit in my overall investment, just like gambling, you win some and you lose some, but what matters is you have more wins.

True. There's really nothing wrong about trading shitcoins as long as you can stomach the risks, as you could definitely make(or lose) money. What I was disagreeing was calling it "diversification", as diversification is done to reduce risk for your investing portfolio; which is definitely not something you can really achieve by trading shitcoins. Just to clear things out.

[chennappa121]

As per my view point the crypto market never going to stop for new coming altcoins because it is increasing day by day and some of them already have been disappeared from crypto market as like scam or shitcoin but bitcoin is always have the potential to dominate the crypto market.

[Darooghe]

A coin never completely disappear unlike most businesses, but can be dead. Bitconnect is still around and being traded from it's community, but it's dead. It is rare to see a coin be resurrected. a lot of altcoins projects will die off because a lot of them are shit or scam. I think there are more than 8000 cryptocurrencies, and 1% of 8000 is 80 which is the maximum in my opinion of use case cryptos. Don't get me wrong, may there are more but this is generally what we are sure about. The chuff of useless shitcoins will die while projects with teams, goals, roadmaps, white papers and a clue will survive.

[mahilchii]

I'd rather have every alt disappear than Bitcoin if I had to decide between the two. Having Bitcoin stand up as the only cryptocurrency surviving would determine everyone to focus on making Bitcoin better than ever before. Right now the focus is split in too many ways imo, there are so many alts & tokens out there I lost the count..

Then trading will no longer be applicable once every alt dissappear. These will simply be like a bank when total supply of bitcoin reached if there's is no trading in the market will happen. I still choose to have some alt. But only those who are legit and with active team.

I agree with you without alts Bitcoin wouldn't have reached it's highest peak, yes competitor make people grow more in our essential life. Similarly the same occurred in crypto currency as well, the real fact of disappearing of alts is only because of the scammers who broke the trust and belief of investors else top alts would have been in a descent price range.

[blckhawk]

If you're talking about shitcoins, they are mostly forgotten, and their disappearance on the market won't cause much effect on the prices. That's why they're called shitcoins in the first place.

But if you're including top altcoins like Ethereum, then it won't do much good either, as Ethereum has disadvantages over Bitcoin. If Bitcoin alone can't overcome its own problems especially in scalability, then a newer tech might come into play, or it won't just grow.

[LogitechMouse]

Many of us are wondering what would happen if crypto vanished altogether (and probably having jitters at such a thought). Well, I'm not that cruel, and only propose to discuss the less evil problem, if a problem at all.

I'm optimistic when it comes to Bitcoin and cryptocurrency in general but to be honest, I'm still thinking that there is a chance that it will happen (around 0.00001% maybe or lower). Its not cruelty to be honest but it is thinking of both sides and take note that a coin has 2 sides and it can be applied here .

As I'm inclined to think, a few remaining coins would benefit dramatically. My train of thought is as follows. We can  plausibly claim that Bitcoin would be far better off now if not for the huge pile of shitcoins that turned out outright scams at the end of the day. People wouldn't have lost their money in these schemes, and they wouldn't lose it if they invested it in Bitcoin instead. Simple and straightforward logic, right?

They are predicting that 90% or more of the altcoins in the market right now will be vanished in the future because of lack of marketing, support and liquidity in exchanges. Some altcoins right now are turning into scam especially those new projects that is why many investors don't want to invest in new projects. I'd rather like that most of the altcoins right now will be vanish because to be honest, most of them are totally useless. People are just creating coins for profit.

[Reatim]

I'd rather have every alt disappear than Bitcoin if I had to decide between the two. Having Bitcoin stand up as the only cryptocurrency surviving would determine everyone to focus on making Bitcoin better than ever before. Right now the focus is split in too many ways imo, there are so many alts & tokens out there I lost the count..

if you wish altcoin to vanished then the market will surely go down because of no trading volume  

i believe that all the shitcoins must die together with fake tokens but of course market is running because of those.

If you're talking about shitcoins, they are mostly forgotten, and their disappearance on the market won't cause much effect on the prices. That's why they're called shitcoins in the first place.

but only if we can distinguish which is which right?because there are low ranking currency that is not shitcoin also there are on the high ranked that consider as shit also.

But if you're including top altcoins like Ethereum, then it won't do much good either, as Ethereum has disadvantages over Bitcoin. If Bitcoin alone can't overcome its own problems especially in scalability, then a newer tech might come into play, or it won't just grow.

also correct because Bitcoin cannot serve the world alone,that is why therea re altcoin to support and back this up if necessary .