Bitcoin value more if no Altcoins or not

[jaberwock]

Is it true that bitcoin is not affected by the altcoins? I am thinking it would have been better if only bitciin is existing as it will have more value, though bitcoin can not be compared to altcoins in many ways as it is the first and the giant.

The only thing that these altcoins influence Bitcoin is how they ruin the image of crypto in general. If only possible that only Bitcoin exists, it gives no option for the user and it feels like we are similarly just using fiat. But having altcoins (potential altcoins) gives more interest and attraction to the public. Although Bitcoin made a huge influence but can't deny that the existence of altcoins gives more popularity.

Altcoins is only just a term but the one that ruins the image of crypto are the people that create scam altcoins. There are also scam sites or scammers that use the name bitcoin and this also damages the name of bitcoin when someone falls for those scams and loses because they will then blame or think that bitcoin is not legit and they can spread this wrong information to their friends.

I remember when bitcoin pumped in 2017, lots of people then join bitcoin because this is also the time when bitcoin got trending, so if there were no altcoins, the price of bitcoin can rise more. Bitcoin can still be successful on its own without the help of altcoins.

[Fatunad]

Is it true that bitcoin is not affected by the altcoins? I am thinking it would have been better if only bitciin is existing as it will have more value, though bitcoin can not be compared to altcoins in many ways as it is the first and the giant.

The only thing that these altcoins influence Bitcoin is how they ruin the image of crypto in general. If only possible that only Bitcoin exists, it gives no option for the user and it feels like we are similarly just using fiat. But having altcoins (potential altcoins) gives more interest and attraction to the public. Although Bitcoin made a huge influence but can't deny that the existence of altcoins gives more popularity.

Altcoins is only just a term but the one that ruins the image of crypto are the people that create scam altcoins. There are also scam sites or scammers that use the name bitcoin and this also damages the name of bitcoin when someone falls for those scams and loses because they will then blame or think that bitcoin is not legit and they can spread this wrong information to their friends.

I remember when bitcoin pumped in 2017, lots of people then join bitcoin because this is also the time when bitcoin got trending, so if there were no altcoins, the price of bitcoin can rise more. Bitcoin can still be successful on its own without the help of altcoins.

Its inevitable or couldnt really be avoided which we do know that whenever a particular trend pop out in the market then expect that there would be lots of copy with it and Bitcoin or crypto has no exemption.
They do tend to make lots of altcoins but not all are shitty ones because you do see that some does have some real usage or application which is really good and the rest of it are pure trash.
Bitcoin would value more if it does only exist on the market? Who knows? Neither it would really be on that situation or would typically be just the same when altcoins is still present.

[Hypnosis00]

Is it true that bitcoin is not affected by the altcoins? I am thinking it would have been better if only bitciin is existing as it will have more value, though bitcoin can not be compared to altcoins in many ways as it is the first and the giant.

To see the overview of the market and see how it moves, Bitcoin is really independent. Imagine if there are no altcoins, people will have no choice and 100% of their funds will be put into Bitcoin. That probably the demand is too high compared today but if we look on the other side, that seems riskier putting eggs in a single basket and these investors are glad to have other options with altcoins.

We can say that Bitcoin is really influential but this never happens if there is no market competition.

[minairia3]

Is it true that bitcoin is not affected by the altcoins? I am thinking it would have been better if only bitciin is existing as it will have more value, though bitcoin can not be compared to altcoins in many ways as it is the first and the giant.

To see the overview of the market and see how it moves, Bitcoin is really independent. Imagine if there are no altcoins, people will have no choice and 100% of their funds will be put into Bitcoin. That probably the demand is too high compared today but if we look on the other side, that seems riskier putting eggs in a single basket and these investors are glad to have other options with altcoins.

We can say that Bitcoin is really influential but this never happens if there is no market competition.

Might be true,
But, keep in mind, Altcoins has been created for the needs of the people, various applications that cannot be launched on the Bitcoin blockchain are launched on the Ethereum blockchain / Binance chain.

Without altcoin there would have been a lot of problems, in fact, altcoins have played a special role in this far-reaching campaign of cryptocurrency. All cryptocurrency gets hyped by the activity of different altcoins, so the contribution of Altcoin cannot be underestimated.

[kryptqnick]

I have just created a topic in Economics, but it is more about how bitcoin can be a bulwark against inflation and the inflation in EU. We all know how people that hold bitcoin for long time have made profit from their bitcoin holding, we all know that as the fact and truth. But how about this quote:

“Contrary to fiat currencies other widely available investment assets and even gold, Bitcoin’s value cannot be negatively impacted by the issuance of new coins. This constitutes a solid base and makes Bitcoin an interesting asset in a context of higher inflation.”

Is it true that bitcoin is not affected by the altcoins? I am thinking it would have been better if only bitciin is existing as it will have more value, though bitcoin can not be compared to altcoins in many ways as it is the first and the giant.

I think the phrase itself can be understood in different ways, leading to different answers. It seems to me that it actually means a simple truth that it's not possible to issue new BTC and lead to inflation. If it's about the impact of altcoins on Bitcoin and vice versa, I don't think it's that different from the stock market or from the market of fiat currencies, honestly. Bitcoin can go up along with other coins or down with them, just like if some stocks start failing, others often experience disturbances as well, but it's not all coordinated.

[Furious 7]

Bitcoins if they are compared here they are the core and alt here cannot live when there are no bitcoins there.
Indeed, the Alt market indirectly depends on how the project they run is actually, but on the other hand the Alt market actually really needs Bitcoin because Bitcoin can indeed affect their market.
When Bitcoin went down, many alts were constrained and even experienced a significant decline that made Bitcoin one of the most influential consciously or not.

has become a benchmark that bitcoin is the parent of other altcoins. every movement of bitcoin, it will often be accompanied by movement of altcoins. this has been seen in every case, it is rare for altcoins to have a move against the bitcoin trend, although there are, I don't think it lasts long because of the hype. therefore before we invest in altcoins, of course holding bitcoin first will be more feasible

Even though there are some Alts that are not parented and paired to Bitcoin but as you said, They are the Core and almost all of them are still standing by to bitcoin and it can be seen with their movements which sometimes become chaotic when bitcoin undergoes a correction.
In any case of course this is very feasible because indeed we are talking about Volatility now and of course Bitcoin is the best

[Lucius]

I don't know if it's possible to calculate how much money went in the direction of all those thousands of altcoins and how much goes every day, but if there was only Bitcoin surely most of the money would go in its direction which would mean more people today in a much better financial position than what they are today.

One should not shy away from the fact that some have made their fortunes by trading in altcoins, but investing in Bitcoin and trading in altcoins are not in the same category to me. Rare are those who can complain that Bitcoin has brought them losses, but there are very many who have believed in various Bitcoin killers over the years and have been waiting for some new crypto king.

Yet I would never put myself between someone's money and the choice of investment, which means that if someone wants to invest in some altcoin, I can only tell him "I invested in Bitcoin, and you do with your money whatever you want".

[fzkto]

It seems to me that on the contrary it is good when there are a lot of other coins on the market. It creates competition and influences the price. If there were no altcoins, there would only be one pair, but with altcoins there are so many, for all needs. This is primarily good for traders. We can also talk about the limited functionality of bitcoin, which would not be able to handle some of the tasks that Etherium, for example, can handle.

[macson]

Is it true that bitcoin is not affected by the altcoins?

bitcoin is not affected by any altcoin, but with the emergence of many altcoins they create a market where it has competitiveness and attracts more investors, so altcoins are also responsible for the growth of this cryptocurrency market. I'm not someone who invests in new altcoins and I'm also in favor of freedom of choice, I don't think there should only be bitcoin, that wouldn't be good, the way the market is in my opinion is very good

each crypto asset circulating in the market has its own fans, Bitcoin does not interfere with altcoins and vice versa.  i don't really like most altcoins, but the altcoins have sprung up to give color to the cryptocurrency asset market.  all the altcoins that appear are inspired by bitcoin, so the freedom of choice is what we must keep.

[ajochems]

Bitcoin was affected by altcoin by new investors to inverse on altcoin with less amount of money. So the amount of dollars invested per year in bitcoin will get reduced.Every few months nearly 1000+ cryto altcoin was launched.So huge amount of money get into the altcoin trading.When the price of bitcoin was reduced with certain conditions, nearly 80 percentage of crypto involved in bitcoin was reduced automatically.

[coolcoinz]

Bitcoin is of course not affected by altcoins but altcoins are affected by bitcoin, there's no doubt about it.

To answer youur second question, if there were no altcoins bitcoin would be more valuable.
Of course not all crypto market cap would go to bitcoin's market cap because many people buy altcoins because they want a cheap and possibly very profitable investment with more risk than bitcoin. Some just see something they like in altcoins like they want more privacy so they buy privacy coins and they wouldn't invest as much if there was only bitcoin, but they would invest. I'd expect that at least 50% of the total altcoin market would go to bitcoin.

We can compare it to cars. Some people like coupes and some like SUVs. If suddenly all brands disappeared leaving only a brand that doesn't produce coupes some people would not buy a car at all and rather choose a motorcycle or public transport instead of getting an SUV, but most would make a switch and drive something less fun but something that serves a purpose of getting you from place to place.

[Maidak]

snip

“Contrary to fiat currencies other widely available investment assets and even gold, Bitcoin’s value cannot be negatively impacted by the issuance of new coins. This constitutes a solid base and makes Bitcoin an interesting asset in a context of higher inflation.”

Is it true that bitcoin is not affected by the altcoins? I am thinking it would have been better if only bitciin is existing as it will have more value, though bitcoin can not be compared to altcoins in many ways as it is the first and the giant.

It seems normal to think so. It seems that if there was no Altcoin, all users and investors would use Bitcoin and this would help increase the price of Bitcoin.

But you have only seen the current form of Bitcoin, not the previous form. People have always used Ripples in the banking sector, i.e. XRP has attracted a lot of attention in the banking sector. in the same way, ETH, NEO, BCH, and other altcoin have created a lot of attention and attracted people to Cryptocurrency.

Overall, Altcoin has played a major role in the adoption of cryptocurrency. So, you can't throw them at all.

[darkangel11]

Much of the altcoin market would go to Bitcoin if they suddenly were to disappear and this would mean a stronger and more expensive BTC.

Had they never existed, the total market cap of crypto which would comprise only of bitcoin would have been much smaller that's one downside. For this reason I feel like it's better that we have altcoins. Their reach in the media is greater than a bitcoin's reach would be and some people who experience cryptocurrencies in the form of altcoins would never be here if the only coin they were exposed to was bitcoin.

[Ryker1]

Perhaps, we can assume that will happen in the absence of altcoins as investors will just focus on Bitcoin alone. Preferably, the demand will increase making the price spike high as well. But having no options might also give less interest to the public, which in fact, the majority looks at this as a scam investment. That I believe the existence of Altcoins helps to improve the crypto market as I think that Bitcoin couldn't make it alone.

Well for me altcoins give a boost to bitcoin price, when everyone wants to invest in altcoins they need to buy bitcoin to purchase altcoin or if there is massive trading that happens it will always have pair to bitcoin which is bitcoin also affected by the price increase when there is a hype altcoin.
And that is right, altcoins have played a major part in bitcoin and not bitcoin alone.

[Marvelman]

Perhaps, we can assume that will happen in the absence of altcoins as investors will just focus on Bitcoin alone. Preferably, the demand will increase making the price spike high as well. But having no options might also give less interest to the public, which in fact, the majority looks at this as a scam investment. That I believe the existence of Altcoins helps to improve the crypto market as I think that Bitcoin couldn't make it alone.

Well for me altcoins give a boost to bitcoin price, when everyone wants to invest in altcoins they need to buy bitcoin to purchase altcoin or if there is massive trading that happens it will always have pair to bitcoin which is bitcoin also affected by the price increase when there is a hype altcoin.
And that is right, altcoins have played a major part in bitcoin and not bitcoin alone.

Bitcoin can be viewed as the original and strongest cryptocurrency, but altcoins can be very useful as well. While altcoins are different in many ways, they are still valid currencies with long-term benefits. You just need to understand how to deal with them and the risks involved.

Bitcoin and altcoins are natural rivals but should not be viewed as enemies. They can co-exist, working together for the benefit of both parties. Some altcoins are even better than bitcoin in terms of usability, while others are nearly worthless. There are a lot of interesting cryptocurrencies out there that haven't attracted mainstream media attention.

[wozzek23]

It depends from token to token, coin to coin. Like if we had no scams, no failures, no shady business and only legit ones then that would be a lot better. However, if we had NO altcoins then it would hurt bitcoin for sure. It is a bit between two things, I mean there is a good amount of tokens and coins that could have been deleted or never existed and that would have helped us a lot.

We have tens of thousands of coins right now and even like 250 of them would have been enough, I do not think that there is a need for that many coins and tokens, I mean most of them are futile. But I rather have 10k coins and tokens than have just 1, that is still true.

[TheNineClub]

I have just created a topic in Economics, but it is more about how bitcoin can be a bulwark against inflation and the inflation in EU. We all know how people that hold bitcoin for long time have made profit from their bitcoin holding, we all know that as the fact and truth. But how about this quote:

“Contrary to fiat currencies other widely available investment assets and even gold, Bitcoin’s value cannot be negatively impacted by the issuance of new coins. This constitutes a solid base and makes Bitcoin an interesting asset in a context of higher inflation.”

Is it true that bitcoin is not affected by the altcoins? I am thinking it would have been better if only bitciin is existing as it will have more value, though bitcoin can not be compared to altcoins in many ways as it is the first and the giant.

I think that the diversity of crypto is what's giving it its value, and in turn what's giving value to BTC. The diversity and the manny uses of crypto is what's attracting people to it and what's helping it to get more recognition from governments. So no, altcoins are actually showing everyone that crypto has many applications. Without them, all of the investments would go to BTC, but there would be far fewer investments in general.

[Erumo]

If altcoins disappear instantly, then avalanche of money will trigger Bitcoin price to increase, demand will be furious. But if this fund migration happens slowly, then no one would even notice that alts have disappeared. But in the end, I think the value of Bitcoin will decrease, as we will have more mining powers. More hashrate means faster mining, faster mining will cause surplus on the market. Supply will excess demand.

[19Nov16]

Bitcoin and altcoins need each other, I'm sure without altcoins bitcoin will not last until now, maybe it's dead before it's worth $1, no one is interested when they see something alone, the presence of altcoins makes bitcoin even more valuable because when they collect funds or ICO they accept bitcoin.

[Marvelman]

Bitcoin and altcoins need each other, I'm sure without altcoins bitcoin will not last until now, maybe it's dead before it's worth $1...

For your information, Bitcoin was worth $ 1 before any altcoin existed. Altcoins were introduced in 2011 with Namecoin being the first and, for a short time, the only alternative to Bitcoin.