On most altcoins disappearing

[dimox]

i dont know if there is no altcoin, people still interest and make other progress or stack on bitcoin, just bitcoin. altcoin give you more colour on crypto, we cant say when altcoin disappear, bitcoin will rise although many shitcoin from there. but, many people and i take profit, more profit on altcoin too. so, no matter how its going on but altcoi. can be other option to make profit even though from shitcoin

[Twentyonepaylots]

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?

Could not agree more. The shitcoins and scams that happened these past 2 years made some people believe that bitcoin is the only trust-worthy coin out there,  along with some other established coins that are basically dependent on bitcoin's existence too. Though if say, altcoins altogether vanish, this could possibly cause a negative feedback on bitcoin as well. More and more people might cash their investments out in fear that they'll lose their money too, some people wouldn't afford bitcoin's price if ever it reaches a really high value and that could cause a stagnation in bitcoin's end too.

[XCANA]

Altcoins without a case use will eventually disappear from the face of cryptocurrency development, many of these altcoins were created by based on nothing, so, their disappearance will be inevitable when time come. What we are seeing today will be more serious with altcoins without prospect. Any investor who still invest in altcoins might blame their actions later this year.

[nickenburg]

I think lots of Altcoins will disappear because the value will be to low it already happened to a lot of coins and just will continue.
That is why it is really important to only invest in the really important Altcoins that actually add value to the Cryptomarket.

Because I don't think Altcoins will completely dissapear some actually add something new to the Cryptoworld or they work togheter with some of the main Altcoins.
But Bitcoin and Ethereum are definitely the main Crypto's which you should have but time will tell what the other Alts will do.

[seoincorporation]

I think lots of Altcoins will disappear because the value will be to low it already happened to a lot of coins and just will continue.
That is why it is really important to only invest in the really important Altcoins that actually add value to the Cryptomarket.

Because I don't think Altcoins will completely dissapear some actually add something new to the Cryptoworld or they work togheter with some of the main Altcoins.
But Bitcoin and Ethereum are definitely the main Crypto's which you should have but time will tell what the other Alts will do.

Some altcoins will die and some others will stay alive, day by day new coins born and die, and you can find the list of those coins in the next link:

https://deadcoins.com/

There you will find Deceased Hack and Scam coins...

[deisik]

Bitcoin Benefited from the ever grow altcoins for a simple reason,
the BTC/ALTs markets sidelined a large portion of bitcoins that literally has no other uses

That remains to be seen

People may buy bitcoins with alts, but how are they buying altcoins in the first place? Right, with their dollars, euros, or whatever. Then think about it, if there were no altcoins hanging around, the same people could be buying bitcoins directly leaving the altcoin market out of the equation and completely irrelevant as a result, with the implication being that alts do more harm than good overall since money gets lost in the process. If people end up with bitcoins, they would still end up there without altcoins as an intermediary, right? Even faster, and likely without incurring the loss of money somewhere in between

[xiboothrezi]

This is not something that can be generalized easily. Yes, I agree if the majority of shitcoins that do not have a strong foundation and strong market interest will sooner or later disappear. But there are many strong altcoins that help strengthen cryptocurrency, which indirectly supports the development of BTC so that it is more widely known and adopted in various fields. So, the relationship between BTC and altcoin (which is potential) is a symbiosis of mutualism, mutual benefit.

[Coyster]

What my mind tells me is that if majority or almost all of the shitcoins disappear, then it will be positive news for the "altcoin" market, since there will be limited altcoins and investors that have lost money and are still losing money when they are searching for good projects will have good options to choose from to invest in.

But the bitcoin may not benefit from the elimination of shitcoins, bitcoins controls the market imo and the altcoins market doesn't have too much influence on the bitcoin, I think we should be more inquisitive about if bitcoin crashes, what becomes of altcoins.

[Kelvinid]

What my mind tells me is that if majority or almost all of the shitcoins disappear, then it will be positive news for the "altcoin" market, since there will be limited altcoins and investors that have lost money and are still losing money when they are searching for good projects will have good options to choose from to invest in.

Maybe not, it only causes a chaos that some people will generalize and think that all altcoins will turn into a scam. But Bitcoin could gain the benefits as people will only look to it and there will be no more competition held around and most likely, Bitcoin price will getting higher as it looks today.

But the bitcoin may not benefit from the elimination of shitcoins, bitcoins controls the market imo and the altcoins market doesn't have too much influence on the bitcoin, I think we should be more inquisitive about if bitcoin crashes, what becomes of altcoins.

We knew that altcoins are still depending on Bitcoin's existence if that thing will happen, expected that the entire crypto market will vanish by then. So much to thin that the whole crypto market relies upon the shoulder of Bitcoin's future. Once Bitcoin finishes, it all be gone.

[hv_]

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?

First of all: Define what Bitcoin is for you - just a ticker ? A special protocol impl or the bigger idea (that started 2008 - without any tickers)?

It is definitely a bigger idea

I'm paid with bitcoins for doing online jobs (like translations or whatever), and without Bitcoin this wouldn't be possible. It is not only that of course as there are other applications beyond being "just a ticker" (by which you seem to refer to speculation, I guess), but that's what instantly comes to mind when asked such a question. So I looks like I defined what Bitcoin is for me (it is not just a ticker), and what comes next?

Yes, Bitcoin is the middle men disruptor, the new internet protocol for value (precious information) transfer, it brings a sheer immutable time / data timestamped ledger - secured by PoW.

If  all meaningful electronic applications can make use of such a single system- cheap,  borderless, open-including, scalable, ...  , than no other system / coin / alt ... is ever needed

This is what Bitcoin aims for, not really caring about speculation or tickers

[deisik]

[...]

https://coinmarketcap.com/all/views/all

now we have 5,067 altcoins... It is known that most of these altcoins are pump and dump schemes and people buy bitcoin to trade with these pump and dump altcoins, this means that these altcoins also contribute to bitcoin adoption and it seems to me that these altcoins are not going to die anytime soon

With a few replies along these lines here, it seems to be worthy of a separate entry

People buy bitcoins but then they have to sell them for altcoins (according to this reasoning). All in all, it means that Bitcoin sells and buys necessarily balance out in the end, with the net effect on Bitcoin price being close to zero (technically, it is not quite correct but it pretty fast approximates to that state in the long run). And that's not all, obviously, since it is what comes next that matters most here, and so many people forget to think about it

These pump and dump schemes steal money from wannabe investors, and that is the end result which ultimately counts. So if some or even most of these 5,067 altcoins are not technically dead (read, delisted from all important exchanges), this doesn't mean they are not left for dead with the orderbooks empty on the buy side (read, there are no more idiots left willing to buy these shitcoins)

[huige007]

[...]

https://coinmarketcap.com/all/views/all

now we have 5,067 altcoins... It is known that most of these altcoins are pump and dump schemes and people buy bitcoin to trade with these pump and dump altcoins, this means that these altcoins also contribute to bitcoin adoption and it seems to me that these altcoins are not going to die anytime soon

With a few replies along these lines here, it seems to be worthy of a separate entry

People buy bitcoins but then they have to sell them for altcoins (according to this reasoning). All in all, it means that Bitcoin sells and buys necessarily balance out in the end, with the net effect on Bitcoin price being close to zero (technically, it is not quite correct but it pretty fast approximates to that state in the long run). And that's not all, obviously, since it is what comes next that matters most here, and so many people forget to think about it

These pump and dump schemes steal money from wannabe investors, and that is the end result which ultimately counts. So if some or even most of these 5,067 altcoins are not technically dead (read, delisted from all important exchanges), this doesn't mean they are not left for dead with the orderbooks empty on the buy side (read, there are no more idiots left willing to buy these shitcoins)

Altcoins are in no way promoting Bitcoin. Bitcoin is standing on its own and do not need support from these Altcoins. Experienced and knowledgeable people always go for Bitcoin. Beginners choose Altcoins for trading as they do not know much about this market, and so is the reason why they get caught by the net of scammers. In the end they do not get any kind of benefit so Altcoins cannot compete with Bitcoin.

[Lauren Smith]

It's people's own fault for falling for scams and being so stupid and greedy like an idiot. Altcoins have a purpose and it's not altcoins fault people are stupid and greedy. Altcoins can be used as currencies for businesses and things with real world use. The problem is most have no use yet idiots still buy it. 

[coinfinger]

More investors came into the space because of altcoins, It was a FOMO to new investor, with the idea 'if they missed the bitcoin at less than 1 dollar they have other opportunities'. Most of them started well with a good pump in price against bitcoin, it was quite easy with richer investors when bitcoin was less than $1000. Invariably most of the trade were paired with bitcoin,and bitcoin to fiat was more dominant at those period. So it was easy for bitcoin to achieve the high volume trade and absorb most of the money in the space from altcoin. I believe bitcoin would have enjoy a good price ride but never this high.

Even now, there are most of the investors who are constantly in search of better projects which can give them immense profits which they were not able to get from bitcoins at the early stage. A lot of people missed the chance to buy bitcoins at lower price which makes them feel they might buy any altcoin at that lower price now and watch it growing in the coming future.

This diversifies their investments into major altcoins which do not have that great price in the current markets but are potential to grow in the coming times. People have faith in bitcoins but the price for bitcoins is already that high that most of the people can't even afford to buy a single coin. Buying in fractions would give least profits.

[qwertyup23]

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?

This would depend on whether the cause on which most altcoins disappeared has something to do with the market or prohibitions caused by third-parties (e.g. government, etc.).

If the cause of disappearance has something to do with a prohibition executed by counties in disallowing the utilization of alternate coins in general, then expect that this may also affect bitcoin negatively.

On the other hand, if the cause of disappearance of altcoins has something to do with the shift of the investor's interest in the market and they are leaning towards investing MORE in bitcoin, then this may affect bitcoin in its price positively. This would entirely depend on the reason on why altcoins are slowly dying on the market.

[Artemis3]

Considering that most altcoins are turning into scam after years of milking the unsuspecting investors, it will be difficult for new teams to get listed in exchanges while new investors today are already warned about new altcoins. The old ones are going to be in the market if they continue to keep developing.

Less altcoins that will successfully listed in exchanges due to them asking more money will discourage new scam teams and ultimately BTC will be the most bought coins making its price surge. Its not just going to be good for BTC for for all the remaining altcoins.

Exchanges are already doing this kind of filtering. There are way too many altcoins that simply just die and they don't want nothing with them. Others simply get delisted when their volume plummets. Did you see the number of coins listed in coingecko? Now enter the most popular exchanges and see how many they trade.

Everyone can make their own coin, doesn't mean it will be successful or accepted by the market. And yes, there are also the scammers.

Most altcoins are simply just ignored by default to begin with. They have to fight hard to get recognition, prove what makes them worth over the competition. They all say they are, but the market (aka. the people with their voting wallets) think otherwise.

[FaithInCrypto]

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.

Same thoughts.
Altcoins are essential like what Bitcoin means to everyone. There won't be any challenge if only Bitcoin exists in the virtual world as a currency.

[deisik]

These pump and dump schemes steal money from wannabe investors, and that is the end result which ultimately counts. So if some or even most of these 5,067 altcoins are not technically dead (read, delisted from all important exchanges), this doesn't mean they are not left for dead with the orderbooks empty on the buy side (read, there are no more idiots left willing to buy these shitcoins)

Altcoins are in no way promoting Bitcoin. Bitcoin is standing on its own and do not need support from these Altcoins. Experienced and knowledgeable people always go for Bitcoin. Beginners choose Altcoins for trading as they do not know much about this market, and so is the reason why they get caught by the net of scammers. In the end they do not get any kind of benefit so Altcoins cannot compete with Bitcoin

As you can see, opinions vary on this subject

If you follow the thread and read the responses posted here, people are expressing quite the opposite views. Personally, I agree that the net effect of altcoins on Bitcoin (and its market valuation aka price) is negative. To make things abundantly clear at this point, I'm talking specifically about the net effect, i.e. all things considered, weighed in and accounted for, which means that if only Bitcoin had existed, and maybe a few other altcoins that pick up where Bitcoin leaves (as there are many dimensions to what a cryptocurrency can do), the whole market would have been in a far better shape than it is now

Well, that is not to say it is in a totally bad shape today, but just picture how it could be if people hadn't been losing money all this time. But likely too much of a good thing, though (read, never happens in real life)

[bearexin]

Actually death of altcoins would make people lose their investments. They would also not be able to convert their altcoins into bitcoins before they are dead. This would leave them with no money. But yes, in case the investors predict the future markets and convert their altcoins to bitcoins before they are dead than it might be beneficial for the price of bitcoins for the long term.

Bitcoins have no intentions to exit the markets and hence it has made a lot of investors stay tightly close with bitcoins and in any case where altcoins are on the verge to die, those people would be instantly supported by bitcoins to stabilize their financial situations.

[Krislaw]

I agree with your points. Altcoins and some ponzi schemes that rised during 2017 which turned out to be scam put this mentality in some people that Bitcoin is a scam. This has been spread among ignorant people that didn't do proper research about crypto before joining in.