Can Bitcoin Destroy Crap Altcoins?

[landheer]

bitcoin and altcoins can be said to be friends.
or it can be called altcoin is a companion to bitcoin. everyone also knows that the safest investment is in bitcoin. but not a few people who invest in both. because if you invest in altcoins, the profits are usually greater than investing in bitcoin. but the risk is very high. so I think altcoins are here to stay and live. but I think it's definitely the high-quality altcoins that will stick around
like, ethereum, bnb, xrp, there's cardano. and I'm sure now many people will be interested in investing in these altcoins.

[LittleBitFunny]

The only thing that will stop shitcoins from stealing people’s money is education. Too many people think that all coins (and stocks for that matter) have the same number of outstanding coins (or shares). This is the most common tactic to fleece those lacking financial education. Too many people judge whether a coin is cheap or expensive by its price instead of market cap. This is mostly a failure of our education system and a get rich quick mentality by the younger generations.

Education can only be a small part of stopping people from investing in shitcoins, as everything comes from greed, and greed cannot be stopped by education. Sometimes greed comes from the environment as well as the circumstances of each person.

I know many investors who have been in the market for a long time and understand how risky shitcoins are but they never stop investing in shitcoins simply because they like to take risks to earn higher returns. Shitcoins don't steal people's money, they chose that risky path out of greed.

[Terezi]

Bitcoin is not trying to destroy altcoins, they can coexist and give different benefits to investors.
Some altcoins eventually die on their own. Some coins are not strong enough to survive a bear market. And Bitcoin can persist until the bull market comes. It is still in the early stages of encryption, and the future of Bitcoin is more potential and powerful.

[Pmalek]

Stricter regulations are definitely coming, and for many shitcoins that were created and minted out of thin air, that will signal the end for them. Not all altcoins will be affected and some will adapt and survive. Others will (rightfully so) be destroyed. I don't see a good future for the stablecoins market either. But bitcoin is decentralized and will be able to cope with whatever is thrown its way, unless its underlying security and mining operation gets attacked.

So, Bitcoin won't destroy altcoins. Regulation, well-informed investors, and no reason for existence are some of the things that will end many alts.

[Asuspawer09]

"Silicon Valley Venture Capital Godfather" Tim Draper (Tim Draper) believes that people will turn to high-quality and decentralized cryptocurrencies such as Bitcoin, and some weaker cryptocurrencies will become historical relics.

Due to the tightening of monetary policy by the Federal Reserve and the knock-on effect of the bankruptcy of major industry companies such as Terra, Celsius and FTX, the crypto market is full of fraud, black gold politics and various conspiracy theories. I'm personally on the sidelines, but still have a lot of confidence. The pool of crypto markets is getting cleaner and cleaner.
In this earthquake in the encryption market, people's awareness is getting higher and higher. God said that the disaster is that people become smarter and see scams more and more clearly instead of pure trust. Altcoins are becoming more and more Like a mainstream currency, if you are a liar, you have to be a liar with a high IQ.
As a government, it will also make the encryption market more orderly through various regulations. There is no doubt that Bitcoin has had a huge impact on the global economic order.
The early dividend period of Bitcoin is over, and the next is the stable period. What are your views on the future? I clearly know that the persistence of beliefs is often not so strong, and few people can hold Bitcoin for a long time.

I mean bitcoin is still the number one cryptocurrency of all, and no altcoins could dethrone bitcoin at its place in the past years. Bitcoin is the first cryptocurrency and it's not really trying to destroy anything like any crap altcoins in the market, maybe altcoins are trying to destroy bitcoin since they are all copied and trying to imitate or make a better cryptocurrency than bitcoin.

For a long time, all of these altcoins and projects are just some sort of scheme or pyramid thing where it would just end up where the project will be bankrupt then the money will be stolen. But at the same time even though projects end up like this investors still risk their investment since cryptocurrency is a volatile asset and some projects could easily earn a big amount of money.

People will still invest on cryptocurrency since its an easy entry to multiply your investment even though its a big risk, for now the bear market could continue for years but bitcoin could easily gain momentum and that could easily skyrocket the price soon.

[fullhdpixel]

It's certainly possible. Bitcoin has a lot of advantages over altcoins - it's more widely accepted, it has a more robust infrastructure, and it has a larger user base. So if Bitcoin continues to grow in popularity, it's likely to take market share away from altcoins.

That said, there's always the possibility that an altcoin could overtake Bitcoin. So far, no altcoin has been able to do that, but it's definitely possible. So anyone investing in Bitcoin should also invest in some good altcoins as well, just in case one of them does overtake Bitcoin someday.

Once btc grows for more in terms of price then it will surely became more popular. People that supposed to go for altcoins are going to be lured in btc but we should keep in mind that some altcoins still has their own use cases and this is something that btc can't follow therefore they still can get a demand but no, there's no way that an altcoin can overtake bitcoin. They are still too small compared to it and if that is possible then it already happened long time ago.

There's no need for the btc to destroy the crap altcoins but they can just self destruct once they already get what they want from the public. If ever they fail, the same thing can still happen.

[Hyphen(-)]

Only Bitcoin is 100% secure because there is no news of a security bridge, and it is the forerunner of all cryptocurrency coins known as Altcoins.
Many altcoins have been exposed as there have been issues with some team failures and exchange hacks, which always result in the coin's death. The FTX and Luna issues have kept the crypto market down for a long time; if Bitcoin can survive the market and maintain market control, it can devastate Altcoins, as they can only rise if Bitcoin rises.

[goldkingcoiner]

There is absolutely no need for Bitcoin to destroy the altcoins. Altcoins are altcoins and Bitcoin is Bitcoin. Lets not compare apples to bananas here.

Bitcoin has been the king of "crypto" ever since day one and that has not changed, throughout all these years. You should view Bitcoin as something which is separate from Altcoins. Each of them is different in their nature. It would be better to not even compare the two.

But also, lets not call all crypto a scam. DeFi is quite useful, as long as you know what you are doing and avoid the known traps.

Bitcoin and alts can co-exist with each other. They are catering different purposes

Well yes, if you actually read my post you would notice that is exactly my point. So them serving different purposes, although they are based on roughly the same technological concept of blockchain, is the main reason why comparing Bitcoins with altcoins has absolutely not point whatsoever.

In fact, I even mentioned in my previous post that DeFi is a very promising area of altcoins. So obviously I am not against all altcoins. But Bitcoin is Bitcoin and altcoins are altcoins (crypto). Meaning that no single altcoin will be able to overcome Bitcoin as #1. Because they are two different things.

[Margaretv]

People need to stop looking at 99.9999% of altcoins as something that's trying to be/beat bitcoin in the currency/SoV category; but in fact, a huge majority of altcoins are in the "DeFi" category — with them acting like pseudo-stocks, with revenue share and stuff. Regardless what you're opinions are with these tokens, they're really not in the same category as Bitcoin.

The difference is huge. Bitcoin does not need hype, Bitcoin does not need human manipulation, and Bitcoin does not need to deliberately deceive people. Then, most of the air coins, garbage coins, pyramid scheme coins, and counterfeit coins on the market are counterfeiters. The purpose is very simple, to cheat your money. What they care about is which sector of decentralized applications is hot, but in fact there are no application scenarios at all. The project party gives you a huge return as bait, and then quickly turns your assets into 0.

[wastagnn]

Bitcoin isn't going to destroy junk coins. Bitcoin is widely accepted by many users and has stronger technical support and user base.
Although there are more and more altcoins in the crypto market, the altcoins without potential will die on their own, and Bitcoin does not even need to participate.

[Tommiewill]

Bitcoin’s price action also affects a subset of altcoins. Altcoins were born because of Bitcoin.

[Robertshon]

No, Bitcoin cannot destroy altcoins. Altcoins are alternative cryptocurrencies to Bitcoin, and their existence is independent of Bitcoin. While the success or failure of a particular altcoin may be influenced by market factors and investor sentiment, it cannot be destroyed by Bitcoin.

[Argoo]

Considering that there are almost 22,000 alts, I would say that they destroy themselves. The focus should not be put on bitcoin. Bitcoin was first, and the success attracted many imitators who have come to create real garbage, if not scams. Some of those that existed in the past no longer exist, and many of those that we see now will not exist because they do not really bring anything more than speculation.

It is hardly possible to agree with the statement that altcoins will destroy themselves. Yes, they appear en masse and disappear en masse, but anyway, they survive and the strongest remain on the market and thus develop, and also supplement the cryptocurrency with many useful properties. We also see that over the years there are more and more of them and today there are already 22,032 of them.
At the same time, bitcoin is not able to influence altcoins in any way. They coexist with them, and only the participants in this market, by implementing the principle of supply and demand, decide which of them is worthy of staying on.

[HELENA22]

"Silicon Valley Venture Capital Godfather" Tim Draper (Tim Draper) believes that people will turn to high-quality and decentralized cryptocurrencies such as Bitcoin, and some weaker cryptocurrencies will become historical relics.

Due to the tightening of monetary policy by the Federal Reserve and the knock-on effect of the bankruptcy of major industry companies such as Terra, Celsius and FTX, the crypto market is full of fraud, black gold politics and various conspiracy theories. I'm personally on the sidelines, but still have a lot of confidence. The pool of crypto markets is getting cleaner and cleaner.
In this earthquake in the encryption market, people's awareness is getting higher and higher. God said that the disaster is that people become smarter and see scams more and more clearly instead of pure trust. Altcoins are becoming more and more Like a mainstream currency, if you are a liar, you have to be a liar with a high IQ.
As a government, it will also make the encryption market more orderly through various regulations. There is no doubt that Bitcoin has had a huge impact on the global economic order.
The early dividend period of Bitcoin is over, and the next is the stable period. What are your views on the future? I clearly know that the persistence of beliefs is often not so strong, and few people can hold Bitcoin for a long time.

Bitcoin is tolerant, allowing multiple digital currencies to coexist. Blockchain technology started from Satoshi Nakamoto's white paper, and Bitcoin was the first application of this technology. Other so-called digital currencies are imitators of Bitcoin. Of course, the price trend is based on Bitcoin.

[TommieSang]

It takes losing money on Altcoins for newcomers to understand that bitcoin is king.

[TheUltraElite]

Crap altcoins will continue to exist because someone out there will always buy and sell or use them. Bitcoin's only relation to these altcoins is that the purchase of the latter needs the former because fiat is not the trading pair for each or them.

No crypto can be literally "destroyed" it is more like being "abandoned" and nobody is using it anymore. While new ones will continue to flood the market I doubt their number will reduce anytime soon. Because of the "get-rich-quick" screaming appearance of most of these altcoins at the start, the new investors will always buy them instead of going for bitcoin.

My view on bitcoin is that it is always profitable if bought at the low price. No such thing as dividend period or stable period here. Been watching for several years now and I know that the cycles continue if you watch closely.

[lenexn]

I think there is no way to compare the two. Although altcoins are risky, their profits are extremely high. It is not ruled out that there will be scams in them. There is no need to destroy them, and they will naturally be eliminated.

[zfhrt80]

There are countless currencies in the market now, and updates and eliminations are very fast. Altcoins will not disappear completely, but will be replaced slowly, but there is no substitute for Bitcoin.

[CryptSafe]

Going by your topic, I see no reason why bitcoin should be in competition with other altcoins. Come to talk of it, bitcoin is the first digital currency to emanate so why the comparison. Well like they say things of value attracts more clients. If the altcoins projects are the type of good oriented ventures, I think they can do well and stand the test of time for a longer period with no interference on their existence. It is only a project with no value that fades away so easily or a scammer using a fake project to scam people of their hard earned resources which is not right and good in anyways.
Bitcoin was initially designed by Satoshi Nakamoto as a currency for p2p transaction but people hijacked it and turned it into an investment hub creating the knowledge of it being good for investment against the initial plan for it. So now, the majority of people coming onboard sees it as a means of investment and profit making business and so it will continue not until that impression already created could be corrected,

[BariMade]

The security of Bitcoin is 100%, and it is reliable as the father of cryptocurrency, but there is no guarantee for altcoins. There are problems with project parties running away or problems with exchanges, which makes many people entering the market Newbies lose a lot of money in it, which is one of the reasons why altcoins can’t compare to Bitcoin.