Altcoins are surviving under the reputation of Bitcoin

[Ishicryptic]

When you talk about cryptocurrency the main focus is on Bitcoin, it is the most popular and most adopted cryptocurrency. No altcoins comes close to it's market cap and that makes it their king. Bitcoin success is the reason why many people look into altcoins (alternative cryptocurrency). If Bitcoin had failed I doubt that any altcoins would have had the potentials to make cryptocurrency popular. That is the reason why I say that altcoins survive under the reputation of Bitcoin.

It is a pity that a lot of shitcoins have flooded the crypto market and a lot of naive investors are being scammed. Everybody that wants to invest in cryptocurrency should try and gain some knowledge about the space. Bitcoin is different from altcoins it cannot scam anybody because it is decentralized, even Satoshi it's creator cannot control it. Bitcoin is still holding the beacon that makes cryptocurrency relevant while many scam projects are leveraging on it's legacy to attract victims.

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

[Joeboy]

The superiority of BTC over other Altcoin is unquestionable. it is an already established fact in the crypto world that It is the king of other coin. Yeah I agree with you on this one.

Though Bitcoin may have opened the door to some Altcoin project, but is it appropriate that we then conclude that all Altcoin project survives under the reputation of Bitcoin? Especially when know that this Altcoin eventually built their own value overtime, they created their own lanes and became problem solvers. For example Etherum is a game changer in the area of decentralized applications (dApps) and smart contracts. Also look at Polygon, BNB, Solana etc all this token have been nothing but problem solver and as such gradually came out from the shadow of Bitcoin a very long time ago.

‎So if we say that Altcoin survive only in the reputation of Bitcoin we are actually discrediting the effort and benefits this other Altcoin project I mentioned has offered.
‎

[Fivestar4everMVP]

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

Every thing you have said is absolutely correct, and I completely agree with you, bitcoin is indeed the reason why there is such a thing known as cryptocurrencies today, it's also the reason why we have a thing known as the blockchain today as well, so lets just say that Bitcoin is the bedrock of crypto currencies, its the backbone of the crypto currency market even till now and till God knows how long because if anything happens right now that caused bitcoin to collapse. It will be a catastrophy because the entire crypto market will tumble and burn to ashes.

But then, we still can't really tell what would have happened if bitcoin failed to succeed, maybe another crypto currency would have succeeded and crypto will still exist regardless, but this discussion for another day..

It's not wrong to diversify ones crypto investments to other Altcoins as well, because even though there are alot of scam in the market, there are still alot of legit ones.

[Hewlet]

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

There's a clear difference between coming up with an idea that attempts to solve a particular problem in the society and modeling your idea from an already existing one just to either enrich yourself or to alternatively show that you're relevant in the midst of the trending technology. This is the issue when relating bitcoin to any other crypto we have in this digital space. Bitcoin came in as a solution to the problem the global financial system was experiencing, it helped In solving that problem and even though the issue of altcoin flooding the market and sending a false narrative to bitcoin has been the case, because of what bitcoin has been known for, it has managed to stand through it all and still represent the most legit hope to modern financial issues.

[SatoPrincess]

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

Yes bitcoin is indirectly the reason why altcoins are surviving in the market. People look at how bitcoin price went from $0 to $100k over the last 10 years plus and they want the same result by investing in shitcoins. It’s ridiculous but it’s the truth. Shitcoins are still popular because of human greed, people just want to get rich overnight.

[Ishicryptic]

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

Yes bitcoin is indirectly the reason why altcoins are surviving in the market. People look at how bitcoin price went from $0 to $100k over the last 10 years plus and they want the same result by investing in shitcoins. It’s ridiculous but it’s the truth. Shitcoins are still popular because of human greed, people just want to get rich overnight.

Shitcoins will continue to saturate  the market and inexperienced investors will continue to fall victims as long as Bitcoin adoption and value is still increasing, they will think that the get rich quick schemes are as reputable as Bitcoin. Proper crypto knowledge is important for anybody that wants to enter the crypto market, if they don't understand the difference between Bitcoin and altcoins they will be carried away by memecoins hype. Without any experience on how to research projects they will unintentionally gamble their funds and most likely lose everything. Invest the amount that you can afford to buy Bitcoin and if you must buy altcoins let it be with amount that you can afford to loose.

[fredericktaylor]

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

I agree with you. The main lifeblood of Cryptocurrency is Bitcoin. the highest success in Crypto investment comes from Bitcoin, which is not possible from any Memecoins. It is true that it takes a long time to achieve success in Bitcoin. the trustworthiness of Bitcoin is spreading all over the world, as we can now see the proof. to achieve success in any investment, knowledge as well as specific guidance is very important. It is sad that some new investors invest in different Memecoins with very little knowledge and get scammed and make various bad comments about Cryptocurrency. To achieve success, specific knowledge as well as long-term investment planning and patience are very important.

From my perspective, the reason why mini coins are alive today is because Bitcoin was created, otherwise the situation of mini coins would have been very dire. I believe that we will see Bitcoin reach its highest level at some time.

[Tonimez]

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

I agree with you. The main lifeblood of Cryptocurrency is Bitcoin. the highest success in Crypto investment comes from Bitcoin, which is not possible from any Memecoins. It is true that it takes a long time to achieve success in Bitcoin. the trustworthiness of Bitcoin is spreading all over the world, as we can now see the proof. to achieve success in any investment, knowledge as well as specific guidance is very important. It is sad that some new investors invest in different Memecoins with very little knowledge and get scammed and make various bad comments about Cryptocurrency. To achieve success, specific knowledge as well as long-term investment planning and patience are very important.

From my perspective, the reason why mini coins are alive today is because Bitcoin was created, otherwise the situation of mini coins would have been very dire. I believe that we will see Bitcoin reach its highest level at some time.

Bitcoin's credibility is the reason for mass invention of memecoins. However memecoins have also had negative influence on bitcoin is also noteworthy because many people who are not investing in bitcoin today were all product of memecoins scams which they have previously run into before gaining the full knowledge of bitcoin. With such existing stigma against cryptocurrency, they end up scaring away from all forms of cryptocurrency investments including bitcoin.

A good knowledge of bitcoin at first would also keep any investor focused on bitcoin alone because proper analysis of any memecoins would make you understand it's unreal nature. The idea of diversifying funds into these memecoins should also be discouraged among bitcoin investors who are not willing to gamble their hard earned money.

[Baki202]

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

Yes bitcoin is indirectly the reason why altcoins are surviving in the market. People look at how bitcoin price went from $0 to $100k over the last 10 years plus and they want the same result by investing in shitcoins. It’s ridiculous but it’s the truth. Shitcoins are still popular because of human greed, people just want to get rich overnight.

And I don't think altcoin will survive without bitcoin, and when it comes to the market, all attention will be on bitcoin, and when it comes to the market, they are always advising people to invest in bitcoin. And the reason why some people don't want to invest in Bitcoin is because of the price, and that is why people are going for the one they can afford, because when it comes to investment, people prefer to go for quantity. And the majority of them are getting lucky when it comes to investing in shitcoins, and they feel they will make fast money when it comes to shitcoins and memes, but everyone has their choice if they want to invest or not.

[Rockson1]

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

This is an established fact, no doubts on this, you can call bitcoin father of cryptocurrency I think that would've been the best name for it, the entire digital currency space would've been a mess without this innovation called bitcoin, if we should count from the day this coin has been in existence, we will find out that there's no other crypto project that we can say that's better it is, I think there's no comparison at all, from value, reputation, reliability, decentralisation, name it,  be it memecoin, altcoin, it is better for us to be careful out there when involving ourselves in these investment, am not against anyone doing it but I think it will be nice for us to actually know why we are going before finally making our decision to invest, as for all you said you're right, it can only be bitcoin although one can also try altcoins like Ethereum and BNB or maybe other few ones  I was unable to mention, aside this ones that has also exhibited a long term character, other ones can be regarded as overhyped shit.

[Lida93]

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

Except for complete newbies that have no atom of idea about cryptocurrency but just coming into the space for the very first time. Every other crypto enthusiast knows about the difference between bitcoin and altcoins/memecoins and the risk they pose, but for some reasons such as having to make quick returns on investments within the shortest period, you still see people throwing their money into these memecoins that has been known to be mostly shitcoins.

However, for those who knows what investment means to them, they have always chosen bitcoin over those altcoins upon building their portfolio.

[Mehmet69]

If not for the reputation that Bitcoin has built over the years as a store of value, memecoins scams would have dragged crypto reputation into the mud. Memecoins are no different from Ponzi schemes, left for then alone cryptocurrency would have collapsed. But thanks to Bitcoin reputable, the name cryptocurrency still holds value.

Except for complete newbies that have no atom of idea about cryptocurrency but just coming into the space for the very first time. Every other crypto enthusiast knows about the difference between bitcoin and altcoins/memecoins and the risk they pose, but for some reasons such as having to make quick returns on investments within the shortest period, you still see people throwing their money into these memecoins that has been known to be mostly shitcoins.

However, for those who knows what investment means to them, they have always chosen bitcoin over those altcoins upon building their portfolio.

Yes, you are right. In this vast world of cryptocurrency, those who decide to invest for the first time invest in altcoins and memecoins without doing any research in the hope of making more profit in a short time. But they mostly face losses. Because most of these coins reach their highest price once in their life.

Newbies lose a lot of money before they understand this investment. But there are many experienced investors whose main goal is to invest in Bitcoin. But they sometimes invest money in altcoins or memecoins to make more profit in a short time.

But they all know very well that Bitcoin is the only hope to decorate their portfolio. Because Bitcoin is the king of the cryptocurrency world.