Altcoins are the silent killer of Bitcoin

[GiftedMAN]

I get your point @bit bender. That can't be competition when they are not even in a close range coupled with the obvious advantage to have already been enjoying from BTC. They should even wish Bitcoin gets higher so they can see the limelight. Competition is when their existence will trouble BTC but as it is they should even wish for more BTC adoption being aware of the benefits they have always had.

For BTC, altcoins ain’t even a thing, because Bitcoin has been doing pretty great without them altcoins and will always continue to grow even in the absence of the altcoins. I agree that with your thoughts about altcoins wishing for Bitcoin to gain even more adoptions as this is most likely a way for them to gain relevance and more exposure in the crypto space.

[OcTradism]

For BTC, altcoins ain’t even a thing, because Bitcoin has been doing pretty great without them altcoins and will always continue to grow even in the absence of the altcoins. I agree that with your thoughts about altcoins wishing for Bitcoin to gain even more adoptions as this is most likely a way for them to gain relevance and more exposure in the crypto space.

Altcoins in one day, one week, one month or one market cycle can look very outperforming than Bitcoin, but in the long term, their prices on the market are lost with time and market cycles.

By a long time, many market cycles, in cryptocurrency market, there is only one cryptocurrency that is safe and good for your investment portfolio, it's Bitcoin. With Bitcoin, you firstly don't lose your money, and eventually you can get very good profit.

These things can not be achieved with any altcoins. You bought altcoins, hold them a long time, by years and market cycles, you will lose your money and your bitcoin especially if you bought and hold Degenerator altcoins.

https://www.coinglass.com/pro/i/yearly-candlestick-chart
The two types of altcoins.

[CryptoBuds]

Altcoins in one day, one week, one month or one market cycle can look very outperforming than Bitcoin, but in the long term, their prices on the market are lost with time and market cycles.

By a long time, many market cycles, in cryptocurrency market, there is only one cryptocurrency that is safe and good for your investment portfolio, it's Bitcoin. With Bitcoin, you firstly don't lose your money, and eventually you can get very good profit.

These things can not be achieved with any altcoins. You bought altcoins, hold them a long time, by years and market cycles, you will lose your money and your bitcoin especially if you bought and hold Degenerator altcoins.

So what do you say about ETH, BNB, SOL or even Dogecoin? Because they are altcoins too and people invested in the early days. Although the returns are not as high as those of early bitcoin investors, they still make huge profits, much larger than any other investment. Not to mention, these altcoins continue to exist and grow over time, and many of them will even be approved as ETFs soon.

I do not recommend investing in altcoins. But we should also be fair that not all altcoins will die over time, and only bitcoin will survive. There are many altcoins that will survive and thrive alongside bitcoin, and the crypto industry will mature even further, not just bitcoin alone.

[Doll2233]

From my own perspective, altcoins have no effect on bitcoin.
Consensus, decentralization, mining etc, all remain the same and operates accordingly. If we should be concerned about anything it has to be bitcoin's reputation. The idea that most no bitcoiners have in mind. Which is the idea that crypto is a scam, using altcoin to draw proof and show statistics. The last time I had an argument with someone about bitcoin and altcoin it didn't end well. We have to push for more sensitization on this area if we want to push for more adoption very soon.

Actually you made a good point from all what you wrote.It is said that a good name is better than riches,many Bitcoin critics opinion about bitcoin is so alarming to the extent that they've started posting false information about Bitcoin on social media platforms most especially on YouTube.So instead of the enthusiasts to complain about the altcoins or shitcoins being a silent killer they should channel that energy by telling others that have been convinced that bitcoin is a scam that they received a wrong information about Bitcoin.If Bitcoin were to be a scam project then it wouldn't have lasted till date.

I think Bitcoin has its own identity and no one can erase it from the market because it is unique to all other coins . We are watching millions of coins and these coins are not famous in the market as their projects are not strong as BTC And that is controled by the person and people invested in these coins but there is no guarantee that these coins will be successful in the market but BTC has covered the distance of 18 years and people are satisfied that project will remain in the market until they will die and their next generation could get the reward of their Investment.

[gogarza63@hotmail.com]

Bitcoin was good while it lasted, but I don't have much hope it can go much higher due to being
eaten up by the shitcoin market so I am out.

Keys are under the mat and I'll leave the lights on.

[Mame89]

<snip>

Essentially no altcoin can compete with Bitcoin. Although many altcoins offer advanced technology and fast transactions, Bitcoin remains the primary coin we should own because of its strong fundamentals. Altcoins exist because many adopt Bitcoin's technology.

It is true that altcoins are part of crypto, provided that Bitcoin is not the same as altcoins.
I think regarding Bitcoin and altcoins it is clear that there is no competition because it has never been proven that altcoins can compete with Bitcoin. Basically, one can find differences in the context of who is better among the good in the crypto space. The word competition seems to be created deliberately even though it cannot be considered competition.

Yes. You could say that altcoins are a subset of Bitcoin, but they won't be able to compete with Bitcoin. Even though they offer better technology than Bitcoin, Bitcoin remains the number one cryptocurrency and unbeatable.

In other words Bitcoin has long been considered a unique cryptocurrency, and its price continues to rise. So it's no surprise that altcoins are emerging, as they are alternative currencies. Many investors are looking for alternative crypto assets besides Bitcoin, as projects can offer something different and attractive for profit. I mean altcoins are alternative coins, so of course alternative coins can't compete with the main currency, Bitcoin.

[Silikiem]

From my own perspective, altcoins have no effect on bitcoin.
Consensus, decentralization, mining etc, all remain the same and operates accordingly. If we should be concerned about anything it has to be bitcoin's reputation. The idea that most no bitcoiners have in mind. Which is the idea that crypto is a scam, using altcoin to draw proof and show statistics. The last time I had an argument with someone about bitcoin and altcoin it didn't end well. We have to push for more sensitization on this area if we want to push for more adoption very soon.

Actually you made a good point from all what you wrote.It is said that a good name is better than riches,many Bitcoin critics opinion about bitcoin is so alarming to the extent that they've started posting false information about Bitcoin on social media platforms most especially on YouTube.So instead of the enthusiasts to complain about the altcoins or shitcoins being a silent killer they should channel that energy by telling others that have been convinced that bitcoin is a scam that they received a wrong information about Bitcoin.If Bitcoin were to be a scam project then it wouldn't have lasted till date.

I think Bitcoin has its own identity and no one can erase it from the market because it is unique to all other coins . We are watching millions of coins and these coins are not famous in the market as their projects are not strong as BTC And that is controled by the person and people invested in these coins but there is no guarantee that these coins will be successful in the market but BTC has covered the distance of 18 years and people are satisfied that project will remain in the market until they will die and their next generation could get the reward of their Investment.

Bitcoin has truly distinguished itself as one of, if not the most valuable asset in the crypto space. Bitcoin I think is in a world of its own and personally apart from the fact that they are all called cryptocurrencies i don’t think other shitcoins are comparable to bitcoin. The only identity they have in common is the fact that they’re cryptocurrencies. Bitcoin has continued to gain more value and have performed exceptionally over the years and is still counting.

[PX-Z]

Bitcoin was good while it lasted, but I don't have much hope it can go much higher due to being
eaten up by the shitcoin market so I am out.

Keys are under the mat and I'll leave the lights on.

Fair enough, just know we might throw a party in your absence. Crypto loves drama. Markets move in weird ways anyways.

[amihada]

It is impossible for Altcoins to kill Bitcoin, even if thousands of Altcoins are still scattered and form a large coalition, their power is still too weak to kill Bitcoin. The emergence of several Altcoins (Stablecoins) such as USDT, USD and USDC is only limited to being a more practical alternative (because its value is stable) which can reduce dependence on Bitcoin. Bitcoin's development will continue, its fundamentals are still too strong to be shaken, some investors who have shifted their focus to top Altcoins and Stablecoins consider them only as alternatives, but the focus remains on Bitcoin.

[Fiasem20]

From my own perspective, altcoins have no effect on bitcoin.
Consensus, decentralization, mining etc, all remain the same and operates accordingly. If we should be concerned about anything it has to be bitcoin's reputation. The idea that most no bitcoiners have in mind. Which is the idea that crypto is a scam, using altcoin to draw proof and show statistics. The last time I had an argument with someone about bitcoin and altcoin it didn't end well. We have to push for more sensitization on this area if we want to push for more adoption very soon.

Actually you made a good point from all what you wrote.It is said that a good name is better than riches,many Bitcoin critics opinion about bitcoin is so alarming to the extent that they've started posting false information about Bitcoin on social media platforms most especially on YouTube.So instead of the enthusiasts to complain about the altcoins or shitcoins being a silent killer they should channel that energy by telling others that have been convinced that bitcoin is a scam that they received a wrong information about Bitcoin.If Bitcoin were to be a scam project then it wouldn't have lasted till date.

I think Bitcoin has its own identity and no one can erase it from the market because it is unique to all other coins . We are watching millions of coins and these coins are not famous in the market as their projects are not strong as BTC And that is controled by the person and people invested in these coins but there is no guarantee that these coins will be successful in the market but BTC has covered the distance of 18 years and people are satisfied that project will remain in the market until they will die and their next generation could get the reward of their Investment.

Bitcoin has truly distinguished itself as one of, if not the most valuable asset in the crypto space. Bitcoin I think is in a world of its own and personally apart from the fact that they are all called cryptocurrencies i don’t think other shitcoins are comparable to bitcoin. The only identity they have in common is the fact that they’re cryptocurrencies. Bitcoin has continued to gain more value and have performed exceptionally over the years and is still counting.

Bitcoin is indeed an exceptional asset in regards to the rate of growing altcoins in the crypto space.These altcoins are highly speculative than bitcoin and their increase in price depends on hype by people out there that barely know the market.How many of us could remember when airpdrops were in their prime, what could had made airdrops make such wave in the market was as a result of the hypes.Likewise, altcoins are hyped by influencers in order for people to pick interest in them.

[uneng]

Altcoins killing Bitcoin would mean suicide for themselves, so that theory makes no sense. As we can see, Bitcoin is the king which leads this market in every directions (upside and down). When Bitcoin is bullish, altcoins are benefited by the same tendency, rising in price as well. When Bitcoin crashes, altcoins follow the tendency once again.

So, in case Bitcoin was killed, altcoins would just die as consequence as well.

What has always happened is the fact altcoins take advantage of Bitcoin's popularity and bullishness to sell themselves to investors. Therefore, they need Bitcoin strong to be strong too, at least temporarily, so people behind them can make quick speculative profits and vanish away towards the next scheme.

[nutildah]

Another reason why altcoins as a whole shouldn't be seen as adversarial to Bitcoin is that they occasionally experiment in interesting new tech, going all the way back to Namecoin's DNS system. Sometimes this tech is worthy enough to find itself incorporated into Bitcoin. Not everyone realizes this but Segwit was first launched on Litecoin. That blockchain has been something of a testing ground for technological upgrades over the years.

Then we get to see other crypto experiments in action like XRP, XMR, ETH, then BCH and BSV, and anyone paying attention gets to learn what they did right vs. wrong. Learning from the outcome of these experiments can only help Bitcoin in the long run.

[Dogedegen]

Another reason why altcoins as a whole shouldn't be seen as adversarial to Bitcoin is that they occasionally experiment in interesting new tech, going all the way back to Namecoin's DNS system. Sometimes this tech is worthy enough to find itself incorporated into Bitcoin. Not everyone realizes this but Segwit was first launched on Litecoin. That blockchain has been something of a testing ground for technological upgrades over the years.

This is a very good use case for a blockchain that is meant to serve as a complementary system. However many of these chains are very centralized and act like competitive adversaries. This is why they often don't learn anything from Bitcoin's history and why they are not tailored to be testing beds. They are implementing things rapidly without fully understanding the consequences of what they are doing.

Then we get to see other crypto experiments in action like XRP, XMR, ETH, then BCH and BSV, and anyone paying attention gets to learn what they did right vs. wrong. Learning from the outcome of these experiments can only help Bitcoin in the long run.

XRP should never be on a list of this as it is an entirely centralized system. From the remaining ones only XMR is good and the others are mostly just doing things wrong. If you think about it, ETH is one of the worst chains for what it was designed to do. Inefficient, full of bugs and exploits and very centralized.

[Mandoy]

Altcoins in one day, one week, one month or one market cycle can look very outperforming than Bitcoin, but in the long term, their prices on the market are lost with time and market cycles.

By a long time, many market cycles, in cryptocurrency market, there is only one cryptocurrency that is safe and good for your investment portfolio, it's Bitcoin. With Bitcoin, you firstly don't lose your money, and eventually you can get very good profit.

These things can not be achieved with any altcoins. You bought altcoins, hold them a long time, by years and market cycles, you will lose your money and your bitcoin especially if you bought and hold Degenerator altcoins.

So what do you say about ETH, BNB, SOL or even Dogecoin? Because they are altcoins too and people invested in the early days. Although the returns are not as high as those of early bitcoin investors, they still make huge profits, much larger than any other investment. Not to mention, these altcoins continue to exist and grow over time, and many of them will even be approved as ETFs soon.

I do not recommend investing in altcoins. But we should also be fair that not all altcoins will die over time, and only bitcoin will survive. There are many altcoins that will survive and thrive alongside bitcoin, and the crypto industry will mature even further, not just bitcoin alone.

not all altcoins are doomed. ETH, BNB, SOL and others have demonstrated resiliency and provided enormous returns to early investors. However, the thing is that among every good altcoin, hundreds fail, and thus beginners become caught in the hype trap. Bitcoin will remain the safest long-term bet, but there are certain good altcoins that will certainly survive and enjoy growth with it.

[bounceback]

Bitcoin's success will continue to grow. Although various other coins have emerged, I don't believe this will hinder its price growth. Bitcoin is a highly sought-after coin among investors due to its limited supply, making its scarcity a promising opportunity for investors, especially those investing for the long term. While Bitcoin's price is currently declining, I believe this decline is normal. After a price increase, a correction is inevitable, and this is the nature of the cryptocurrency market.

[Razmirraz]

Snip.

Although only a few altcoins are worth holding, the rest are nothing more than worthless coins that simply follow the hype.
Regarding advice, there's no good advice for making altcoins a long-term asset, as it could lead to money sitting in your wallet and ultimately losing it.

Just to add some color to the crypto space, that's true. Making altcoins a short-term goal isn't wrong either, as long as you know which ones to choose. That's in my opinion, if you look at the coin rankings on CoinMarketCap or similar, the top 5 are from ETH to BNB.

That's right, most Altcoins are just adding color to the crypto market, some of them can bring quick profits (if you're lucky), but the risk of loss is also very large. The best advice (especially for Altcoins) is probably to focus on top coins like BNB or ETH as they are safer than most others, while others are more suitable for the short term, but clear risk limits should also be set.
I'm also still wondering how they do it or what criteria they use when trading in Altcoins, do they rely more on volume, market trends, or the people behind the project?

[CryptoBuds]

So what do you say about ETH, BNB, SOL or even Dogecoin? Because they are altcoins too and people invested in the early days. Although the returns are not as high as those of early bitcoin investors, they still make huge profits, much larger than any other investment. Not to mention, these altcoins continue to exist and grow over time, and many of them will even be approved as ETFs soon.

I do not recommend investing in altcoins. But we should also be fair that not all altcoins will die over time, and only bitcoin will survive. There are many altcoins that will survive and thrive alongside bitcoin, and the crypto industry will mature even further, not just bitcoin alone.

not all altcoins are doomed. ETH, BNB, SOL and others have demonstrated resiliency and provided enormous returns to early investors. However, the thing is that among every good altcoin, hundreds fail, and thus beginners become caught in the hype trap. Bitcoin will remain the safest long-term bet, but there are certain good altcoins that will certainly survive and enjoy growth with it.

Yes, bitcoin is the best and most reliable option both in short term and long term. However, we should not deny that many altcoins also have potential and are worth investing in. Not all altcoins are bad and will die over time. Many altcoins have been around for a long time alongside bitcoin and they will continue to stand by bitcoin to help push the entire crypto industry to mature and grow.

In my opinion, as investors and if we want to earn better returns. We should be open and embrace new ideas, being stubborn and rigid will only cause us to miss opportunities rather than bring benefits. I see no point in trying to slander and deny altcoins.

[Hanadawa]

So what do you say about ETH, BNB, SOL or even Dogecoin? Because they are altcoins too and people invested in the early days. Although the returns are not as high as those of early bitcoin investors, they still make huge profits, much larger than any other investment. Not to mention, these altcoins continue to exist and grow over time, and many of them will even be approved as ETFs soon.
I do not recommend investing in altcoins. But we should also be fair that not all altcoins will die over time, and only bitcoin will survive. There are many altcoins that will survive and thrive alongside bitcoin, and the crypto industry will mature even further, not just bitcoin alone.

Altcoins can also provide significant returns for early-stage investors. I agree with you. But I personally am still hesitant to hold altcoins for a long period of time. Yes, I would probably exclude ETH, BNB, and SOL because they already have a very strong foundation. However, it would still not be more than 30% of my total investment in crypto. I have collected several altcoins since 2017, and you know that only Bitcoin can provide me with profits. I'm not saying altcoins are bad investments. Maybe I'm just unlucky enough to get dead coins or altcoins whose value continues to decline every year. I think altcoins can be a good investment if you understand the circle and which altcoins have a narrative that will go to the moon. Like the AI ​​narrative in 2023 or the virtual world narrative in 2021 - CMIIW

[Dogedegen]

not all altcoins are doomed. ETH, BNB, SOL and others have demonstrated resiliency and provided enormous returns to early investors. However, the thing is that among every good altcoin, hundreds fail, and thus beginners become caught in the hype trap. Bitcoin will remain the safest long-term bet, but there are certain good altcoins that will certainly survive and enjoy growth with it.

It is easy to generate large returns if you start with a low market cap or otherwise abuse your position in some way. All three coins that you have listed are centrally controlled. Is something good just because it is able to give you a good return? If that is the metric for doing evaluations of things then you can be an early investor in some ponzi scheme like Bitconnect. The people who joined that early made a good return too.

That's right, most Altcoins are just adding color to the crypto market, some of them can bring quick profits (if you're lucky), but the risk of loss is also very large. The best advice (especially for Altcoins) is probably to focus on top coins like BNB or ETH as they are safer than most others, while others are more suitable for the short term, but clear risk limits should also be set.
I'm also still wondering how they do it or what criteria they use when trading in Altcoins, do they rely more on volume, market trends, or the people behind the project?

If by color you mean scamming people in many different ways then I could agree with you. Just think of how many people have actually ended up losing money because of these projects. I think we are talking about millions of people who don't want to return to crypto because they were either scammed by a fake project in the altcoin world or they were told lies. Many of these projects claim Bitcoin does not scale and that they are much better in many ways. They forget to mention that they are almost all centralized and almost all are controlled by a company or foundation.

Most altcoins should not even be listed on the same page with Bitcoin because they are something else entirely. Ethereum is closer to a stock like Tesla than it is to Bitcoin.

[Alonso_]

The introduction of bitcoin spot ETFs were a great catalyst for bitcoin, but Wall Street managed to screw it up by releasing
a bunch of shitcoin ETFs to compete with it. I believe their actions have led to the debasement and devaluation of bitcoin.

The rise of the shitcoin ETFs creates confusion in the market, pulling away money from bitcoin and transferring it
into the shitcoin market, devaluing everything in the process. This is similar to how governments devalue
their fiat currencies with endless money printing. The result is the same.

That is one reason I believe the price of BTC has been so stagnant this year.  
It's not the only reason, but IMO one of the major factors that no one ever thinks about.

Imagine if there was no shitcoin market. Bitcoin would be worth at least twice as much as it is now
 because all the money in the crypto market would flow into bitcoin instead of being spread out over
a million different shitcoins. This has effectively nullified bitcoin's 21 million unit limit IMO.

Shitcoins should have been labeled as securities which they clearly are, which I was hoping would happen
under Gary Gensler but of course it didn't. The corrupt judges were probably paid off to rule in XRP's favor.

It is sad how the millions of pump and dump scams in existence known as altcoins are perfectly legal in the US.
Bitcoin was good while it lasted, but I don't have much hope it can go much higher due to being
eaten up by the shitcoin market so I am out.

I don’t really understand how Bitcoin ETF is hurting by shitcoin ETF, because as far as I understand what you’re talking about, Bitcoin have been thriving for long before the shitcoin came into existence, Literally this altcoin need Bitcoin to thrive, if Bitcoin doesn’t thrive you will not see them thriving I have been following Bitcoin for a very long time now and it’s been possible for Bitcoin to grow and skyrocket alone, it has never needed any shitcoin or altcoin for it to progress.