Will The Sorrow of BTC Be The Pleasure of Altcoins?

[KingsDen]

The word "Alt-coin" should mean "Alternative Coins". And the word alternative in a layman's language should mean having an obvious option. Example, having an alternative plan means I can decide to use Plan B, most especially if plan A may not favour me at that time. Also, Coffee is an alternative to Tea, in this scenario, alternative is a choice and not a measure of importance. In a situation where an alternative is a choice, is therefore means that the Sorrow of one will be the pleasure of the alternative.

Relating this to cryptocurrency, if BTC who is the mother of Cryptocurrencies and who has gained extensive trust ceases to exist today, will altcoins flourish or will it make the people loose total interest in cryptocurrency.

[DeathAngel]

Bitcoin is the undisputed King & always will be. Most alts don’t even have an independent price path, they go up when bitcoin goes up & they follow bitcoin down when the King goes down. In my opinion no alt will ever flip bitcoin.

[Henrobakkara]

Once you think of it that way, then you might be invariably saying that the whole cryptocurrency market will cease to exist because I believe the Genesis of Bitcoin caused the existence of Altcoins and once the hope is lost for Bitcoin and it ceases to exist, there goes Altcoins too because I don't think Alts will be soo good to outlive Bitcoin someday.

[DireWolfM14]

This silliness was debunked hundreds of years ago:

But soft! What light through yonder window breaks?
It is the blockchain, and bitcoin to the moon.
Arise, fair bitcoin, and kill the envious alts,
Who are already sick and pale with grief,
That thou, their forbearer, art far more fair than they.

All kidding aside, most alts that have been around for a while do have a use case.  Litecoin, is often more affordable to send, and lighter on equipment for hosting a node and mining; Monero has the ability to obfuscate transactions; ETH is good for smart contracts, and therefor tokens.

They all have their various issues whether with security, expensive fees, volatility, regulation, availability, or adoption.  Bitcoin has proven to be secure, resilient, and adaptable.  Segwit, and most recently TapRoot have contributed in keeping fees lower.

The next biggest blockchain, ETH has a host of issues, in my opinion.

[UserU]

Once you think of it that way, then you might be invariably saying that the whole cryptocurrency market will cease to exist because I believe the Genesis of Bitcoin caused the existence of Altcoins and once the hope is lost for Bitcoin and it ceases to exist, there goes Altcoins too because I don't think Alts will be soo good to outlive Bitcoin someday.

Can't really say that if Bitcoin goes down.

While yes, Bitcoin is the OG, it paved the path for other coins. Unlike fiat, it's miles ahead of the it because we can trace transactions, adjust the fees and build apps/ NFTs on top of the blockchain.

Just like the money system, it won't totally die out because there's a need for it.

[pooya87]

The word "Alt-coin" should mean "Alternative Coins". And the word alternative in a layman's language should mean having an obvious option.

That is the definition that we hope for but it is far from reality. The world altcoin has turned into meaning "a useless garbage used for pump and dumping and nothing else".
The technology hasn't really grown that much in the altcoin scene for many years now. From time to time some very unpopular altcoins come along that try new ideas that were proposed years ago! And the majority of altcoins are copy pasting!

Also, Coffee is an alternative to Tea,

Bad example.
In the scenario of bitcoin versus altcoins if you consider bitcoin to be "coffee" the altcoins are the leftover at the bottom of your coffee mug that you throw away. They pick that up, dust it up and sell it to people as "better bitcoin".

Relating this to cryptocurrency, if BTC who is the mother of Cryptocurrencies and who has gained extensive trust ceases to exist today, will altcoins flourish or will it make the people loose total interest in cryptocurrency.

Take a look at altcoin prices each time bitcoin price has a small drop. For every 10% bitcoin drop they have 20% drop. You should know your answer already. If not see how useless altcoins are or what percentage of each altcoin's source code is identical to bitcoin!!!

[yazher]

Bitcoin is the undisputed King & always will be. Most alts don’t even have an independent price path, they go up when bitcoin goes up & they follow bitcoin down when the King goes down. In my opinion no alt will ever flip bitcoin.

Most of the altcoins price will fall whenever the price of bitcoins falls. because most of the time those altcoins have no direct conversion to fiat instead, you need to convert it first to bitcoin then to fiat. so whenever the price of bitcoins has decreased in the market, you can see their price followed the crashed with different negative percentage. So you need to understand the risk whenever the price has dropped and most of the time you see will see it whenever the market is not doing good.

[slaman29]

I haven't been here long enough to see the entire history of altcoins but I was lucky enough to see the true era of altcoins in 2017, which literally hundreds of new tokens put out by ICOs every day (mainly Ethereum but also counting all those other platforms like Waves which also pushed out hundreds).

Bitcoin sorrow is long but the sorrow for alts is even more so.

[passwordnow]

Well, there will be for sure another crypto that shall be trusted by the people. But that's so happened that bitcoin has been the first and it's also has proven to have a secured network that's why it won't cease to exist or operate. Because there's consensus on it and the track record of it cannot be changed. As for everybody who has been trusting bitcoin, it's not bad to look for some altcoins if you don't like them or don't afford them. But usually, when people say that bitcoin is expensive, they're eyeing another altcoin that seems to be cheaper and probably has the potential.

[SaShiRaJaVu]

Relating this to cryptocurrency, if BTC who is the mother of Cryptocurrencies and who has gained extensive trust ceases to exist today, will altcoins flourish or will it make the people loose total interest in cryptocurrency.

First and foremost Bitcoin will not cease to exist just like that which means billions of dollars will evaporate like that, it is an impossible scenario and the other companies that popped up creating billions of dollars surround the entire cryptocurrency market.
Even in a hypothetical situation a demise of one coin will not affect the entire market but if there is a hindrance for Bitcoin then it will affect the entire market.  

[electronicash]

there is some use of these altcoins that will make people prefer to pick the alternative choice. XRP for instance has cheaper transaction fees which in my country coiners are using to cashout. instead of paying more when withdrawing from exchanges, we use xrp to withdraw from the exchange and then cash out.

that's another coffee flavor. for some users, its mainly for profit especially in the bear market where they could buy altcoins cheaper for like $0.02 per coin. what else is to lose when after 2-3 years the price will be $3-5. this is pleasure i guess.

[TribalBob]

The word "Alt-coin" should mean "Alternative Coins". And the word alternative in a layman's language should mean having an obvious option. Example, having an alternative plan means I can decide to use Plan B, most especially if plan A may not favour me at that time. Also, Coffee is an alternative to Tea, in this scenario, alternative is a choice and not a measure of importance. In a situation where an alternative is a choice, is therefore means that the Sorrow of one will be the pleasure of the alternative.

Relating this to cryptocurrency, if BTC who is the mother of Cryptocurrencies and who has gained extensive trust ceases to exist today, will altcoins flourish or will it make the people loose total interest in cryptocurrency.

bitcoin sadness will be the deepest sadness for altcoins, because altcoins cannot run alone without bitcoin, where if bitcoin falls altcoins will fall even more, no one has fun over bitcoin sadness,

[bryant.coleman]

Relating this to cryptocurrency, if BTC who is the mother of Cryptocurrencies and who has gained extensive trust ceases to exist today, will altcoins flourish or will it make the people loose total interest in cryptocurrency.

One of the reasons why we had the sharp corrections in 2018 was due to the fact that the altcoin bubble burst at that time. And it looks as if the same is repeating now. Shitcoins such as Doge had gone up to unsustainable levels in the last few months. Some of the coins had gone up by a whooping 100x in the last 12 months. Obviously this sort of appreciation was not going to last, unless there is a corresponding rise in the acceptability and adoption levels. And from what I can see, these parameters have remained stagnant for most of the alts.

[Ceyflix-Rez]

Bitcoin is the undisputed King & always will be. Most alts don’t even have an independent price path, they go up when bitcoin goes up & they follow bitcoin down when the King goes down. In my opinion no alt will ever flip bitcoin.

Never say never, there is one thing that's certain in crypto space and that's 100% manipulation, we don't know what will happen in the future but now bitcoin indeed look like it's impossible to flip but anything is possible

[DapanasFruit]

Unfortunately, this very common understanding of the word 'alternative' is not working when it comes to Bitcoin and other coins/tokens. In many cases, when Bitcoin is bleeding, other coins can be bleeding even more. Though it was never all the times, of course. Right now, all coins are hemorrhaging - Bitcoin and alts. Actually, the concept between Bitcoin and alts is more of a brother and sister so whatever is happening with the older brother can also be affecting the other offspring. Here, there is no coffee and there is no tea.

[$anounimus$]

bitcoin sadness will be the deepest sadness for altcoins, because altcoins cannot run alone without bitcoin, where if bitcoin falls altcoins will fall even more, no one has fun over bitcoin sadness,

Yes, it's very clear because it has always been seen that when a Bitcoin crashes, Altcoins will also experience the same thing so no one will be happy because of this, so the main thing to always pay attention to is Bitcoin and nothing else.

[bison]

Bitcoin is king, altcoins are an alternative but in reality they are not purely independent, because we can see that when BTC goes down, it will affect other coins as well as when btc goes up, maybe altcoins will be very heavy if they have to survive when bitcoin has disappeared.

[Fundamentals Of]

Relating this to cryptocurrency, if BTC who is the mother of Cryptocurrencies and who has gained extensive trust ceases to exist today, will altcoins flourish or will it make the people loose total interest in cryptocurrency.

The answer is a big no. If Bitcoin ceases to exist today, I am 100% certain that the entire cryptocurrency market will fall crumbling to the ground and might not even recover for at least a century. The cryptocurrency market of today is highly dependent on Bitcoin and its success. Bitcoin's failure is a failure of the whole market.

I think it is also very obvious that every time the Bitcoin market is peppered with FUD and bad news, the whole of the cryptocurrency market is also down.

[sulis sudibyo]

the crypto market was able to develop to this extent, all because of bitcoin. then if bitcoin crashes, there is no hope for altcoins. there will never be a time when altcoins are better off when bitcoin is down. bitcoin is a major draw for the market, so if bitcoin is in trouble it will have an impact on altcoins as a whole. maybe even bigger impact.

[Connor Britton]

Many people agree that Bitcoin is the king of all cryptocurrencies. I can’t imagine that if Bitcoin falls one day, other altcoins will replace it, because I have been in this field for a relatively short time and I see a lot Altcoins will follow in the footsteps of Bitcoin. When Bitcoin rises, most of them will rise with it. When Bitcoin falls sharply, it seems that no altcoin is rising in the entire market. Many altcoins rely on the technology of Bitcoin. Although many of them have achieved innovation, I think they have not been able to surpass Bitcoin. I don’t know if other altcoins can replace Bitcoin in the future. So when Bitcoin is sad, no altcoin can be happy.