Will The Sorrow of BTC Be The Pleasure of Altcoins?

[Ndlongap Ndlongop]

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.

Of course no, bitcoin and altcoins are like a pair of ears, complementary., both of them need each other, if there are no altcoins then maybe bitcoin is worthless, the thing that makes bitcoin skyrocket is altcoins that make bitcoin the standard price.

[Sithara007]

I need to congratulate the OP for coming up with a title that is so poetic. If the sorrow of Bitcoin actually get converted to pleasure for the alts, I am afraid that the situation may not last for much longer. We saw this in 2014, and then again in 2018. It is very simple. The altcoins are incapable of independent existence without Bitcoin. In the initial stages, they may be able to leach a certain amount of market cap from Bitcoin. But the ultimately the altcoin bubble will burst because the valuation doesn't correspond to acceptability in the market.

[alevlaslo]

[isaac_clarke22]

~

Well it indeed gained extensive trust from a lot of people. You can even mention that El Salvador made Bitcoin as a legal tender.
Your analogy is quite off though. I wouldn't consider coffee as an alternative to tea. Coffee still has a lot more caffeine than tea and I would choose coffee over tea any day.
I can say the same that I would prefer BTC over any altcoins.

[DapanasFruit]

Bitcoin and all the other altcoins belong to the same cryptocurrency industry so in general when the market for Bitcoin is going down or when in winter the same thing is happening to all. There can be some exemptions to this general rule but those are just footnotes in the more than a decade history of cryptocurrency. The sorrow of Bitcoin is the sorrow of all the other coins and tokens. That is a big fact. So those altcoins who are wishing that BTC will go down should think twice as the same fate can happen to them.

[laohe628]

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.

If BTC not exist one day，then my answer is  people will lose total interest in cryptocurrency，it can be interpreted as Bitcoin dies, altcoins die, Bitcoin flourishes, altcoins flourish.

[KingsDen]

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".

Legendary reply!
According to your own coffee and tea example, it therefore means that BTC has no alternative. Would that be true in a real sense?
It would be better you say that "After Bitcoin is bitcoin, then others coins". Even in  this case, there is still alternative coin.

[hugeblack]

The word “altcoins” appeared for the first time because they constitute alternative solutions to real problems in Bitcoin, and therefore 99.99% of these currencies are only alternative solutions to the basic problems of Bitcoin, which these currencies strive to solve.
Therefore, we will find that most of these currencies are worthless, and even the ones that have distinctively solved the problems of Bitcoin, revolve around the same philosophy. So you will not compete with Bitcoin.

[DarkDays]

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.

Absolutely no way! BTC has always led the markets of alts, the FUD around BTC atm is what's causing everything else to drop. You never hear regulation on any particular alt but BTC itself, and that is because BTC to this day stands as the bench market for all crypto assets. There'll be no decoupling from BTC for sometime, and alts can't have a strong emergence without the push from BTC.

[J1mb0]

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.

Although bitcoin is the king of the crypto market, I think that even if btc disappears or ceases to function, the market will continue to grow. Maybe by that time another coin will take the place of btc in the market.

[Bitstar_coin]

Probably yes, maybe some few outstanding alts projects like ADA will still survive despite btc not in the picture,  although I can't imagine what can make btc to seiz to exist so there is no need to even consider such scenario, but if for any reason such thing ever happens I believe some alts will still be alive to withstand the heat, blockchain is separate from btc and as long as blockchain still in existence there will be projects using it.

[2tang]

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.

True, in general Altcoins will be very difficult to survive if Bitcoin is no longer in the crypto space, because until now the influence of Bitcoin for Altcoins is still very large and still very strong.

[Meta anggraini]

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.

Its depend on what background of the BTC ceases itself. I dont think its ceases because cryptocurrency is expired or something like that, i believe its ceases because theres an ultimate altcoin that take BTC throne and  being adopted as one of world payment system.

[accounting 181293]

I haven't come across a case like this. because I've never seen an altcoin go up when bitcoin is down. bitcoin is the center of the market and when btc crashes all altcoins will suffer the impact of that crash. no altcoin has survived the fallout of bitcoin. even coins like ETH which is the biggest altcoin can't survive and end up crashing.

[Sithara007]

I haven't come across a case like this. because I've never seen an altcoin go up when bitcoin is down. bitcoin is the center of the market and when btc crashes all altcoins will suffer the impact of that crash. no altcoin has survived the fallout of bitcoin. even coins like ETH which is the biggest altcoin can't survive and end up crashing.

OP is perhaps talking about the Bitcoin dominance. A few months back, the Bitcoin dominance was 70%. And now it has come down to 45%. Some of that loss was due to stablecoins (their combined market cap is now greater than $100 billion). But most of it was due to the altcoins. During the last 12 months, most of the alts have witnessed a steep increase in their market cap. Ethereum is now trading at $2140, which represents a 900% increase from the level we had a year ago. During the same duration, Cardano went up by 20x, and Dogecoin by 100x.

[chanler]

we know that BTC is the parent of crypto and will remain that way. although altcoin indirectly does not depend on BTC but if BTC disappears then I think Altcoin will also decrease its performance. to be honest I never thought if BTC will disappear because indirectly when knowing crypto then what I think is BTC. that indicates that BTC has a big role in crypto. I hope that it won't happen so that we can still make good use of crypto.

[el kaka22]

The old "when bitcoin goes down altcoins go up" thing doesn't exist anymore, the last year was the perfect example of that. Yeah there are times when bitcoin doesn't go up anymore while alts still do but that is just when bitcoin reaches its peak and we should have known a dip was coming from that. Otherwise I do not remember a time when bitcoin went down like 10% while alts still went up like crazy, that doesn't exist.

Good thing is the opposite is true as well, in the dollar value when bitcoin goes up then alts go up too. Like for example when bitcoin was around 10k, ethereum was around 200 bucks, when bitcoin reached 60k, ethereum was nearly 4k as well. So that means they all go up together, then they all go down together, it just works together these days. All those opposite moves were things that happened in the past and not anymore.

[Jackl87]

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.

I personally think that we have so many good crypto projects out there now that even if Bitcoin should fail for whatever reason (flaw in the code if that is possible or some other kind of hack or 51% attack or whatever) those projects could still thrive or maybe even grow, but i don't really think that this would happen. Just imagine Bitcoin suddenly "dies" with it's price going to 0 pretty fast, that would mean that 615B$ would be pretty much gone in an instant and i am pretty sure that those people that lost everything because of bitcoin would use their cash savings ever again to invest into any form of cryptocurrency even if they have nothing to do with bitcoin.

[Samurai trieng]

I never thought that altcoins would beat the popularity of BTC if it has crashed, because altcoins will also experience the same thing as the btc, actually altcoins are very dependent on the movement of BTC, the fact is that if BTC goes down altcoins will also go down, and vice versa.

[cliber]

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.

this alternative should be used as an addition, if BTC is the mother of Cryptocurrency then the father becomes another alternative coin to add other BTC, so that alcoin will develop by itself and ask more people to accent it