Altcoins are the silent killer of Bitcoin

[Cookdata]

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.

Altcoins problem has affected Bitcoin in many ways and I can make you remember some incidents that happened some years back.

During Luna collapse, the useless Luna team pegged a ust to a dollar and over collaterise it with Bitcoin, when the ust depeg, instead of making more deposit of Bitcoin, the foolish team were selling and made everything to dump, the fear made everyone dump coin on the market and till date Luna coin and ust has died but you can see Bitcoin is back like it never left anywhere.

You remember what happened to FTX and FTT token, the same thing made Bitcoin down like bad but look at where Bitcoin is staying today even as things weren't too solid on the market, it looks 4x better than those times they made Bitcoin to dump but the presence of institutional investors has reduce Altcoins impact on the market.

[bubilas]

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 share the author's opinion at all. Altcoins are still just candy wrappers. Their time passed after the ICO, and only occasional short bursts of that allowed altcoin enthusiasts to make money. Then there were memes, but that was just gambling. Bitcoin is stronger than ever, and that's an undeniable fact. BlackRock and the like can issue ETFs on every altcoin and memecoin they want – it doesn't affect Bitcoin in any way, it just creates another casino in the investment world. They're just intermediaries, and these institutions don't aim to kill Bitcoin. On the contrary, they're interested in keeping cryptocurrencies alive, because then they make money on commissions.

[Dogedegen]

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.

But it is not that hard to understand! Whenever someone buys some shitcoin ETF instead of the real thing, Bitcoin, they are risking themselves. Bitcoin loses a potential buyer, and the customer increases their chance of getting scammed by some shitcoin. If there were no shitcoins at all, Bitcoin would have been much larger now. Probably $10 trillion or more. The fact of the situation is that millions of people have lost money in altcoins, altcoin scams and similar things. Many of these people tend to put Bitcoin together in the same group as shitcoins, and they may never come back because of what happened to them. If they did not exist, this would not happen. All of that buying potential is wasted when it goes to some shitcoin, and in the end the consequences often come to the person that let themselves get manipulated into buying the shitcoin.

During Luna collapse, the useless Luna team pegged a ust to a dollar and over collaterise it with Bitcoin, when the ust depeg, instead of making more deposit of Bitcoin, the foolish team were selling and made everything to dump, the fear made everyone dump coin on the market and till date Luna coin and ust has died but you can see Bitcoin is back like it never left anywhere.

You remember what happened to FTX and FTT token, the same thing made Bitcoin down like bad but look at where Bitcoin is staying today even as things weren't too solid on the market, it looks 4x better than those times they made Bitcoin to dump but the presence of institutional investors has reduce Altcoins impact on the market.

These are just some recent events, but we are talking about hundreds or thousands of things that happened. Whether it is exchanges, other platforms like lending, shitcoin DeFi or blockchain hacks, shitcoin scams and so on all of that has a negative impact on Bitcoin. The environment would be better if those things didn't exist. On the other hand though, some people would not learn their lessons if they didn't get scammed this way. There is a positive side to everything you just have to dig deep enough to find it.

I don't share the author's opinion at all. Altcoins are still just candy wrappers. Their time passed after the ICO, and only occasional short bursts of that allowed altcoin enthusiasts to make money. Then there were memes, but that was just gambling. Bitcoin is stronger than ever, and that's an undeniable fact. BlackRock and the like can issue ETFs on every altcoin and memecoin they want – it doesn't affect Bitcoin in any way, it just creates another casino in the investment world. They're just intermediaries, and these institutions don't aim to kill Bitcoin. On the contrary, they're interested in keeping cryptocurrencies alive, because then they make money on commissions.

You are mistaken then and your view is contradictory to data and experience. I personally have been in many groups on Telegram and Discord. Many people will not come back because they were rekt by altcoin scams. Even if they are small relatively speaking, they are still causing damage.

[Plutomanian]

I will tell you this altcoin has never and will.never be in competition with Bitcoin it is not just possible, regardless of is altcoins has ETF's, get backed by politicians or any public figures altcoins is no competition with Bitcoin.
Altcoins is even feeding off the success of Bitcoin, as the adoption of Bitcoin increases some investors will also be looking into altcoins, this is the benefits altcoins get from Bitcoin and if Bitcoin drops most likely many altcoins will feel the impact. Bitcoin is opening doors for so many altcoins and if they follow suit that doesn't mean competition.

I also observe the market in most cases, the moment bitcoin goes down, a lot of shitcoins also go down and if bitcoin goes up, a lot of them also go up and with this alone, you will understand that, bitcoin is the king and since it is the first digital cryptocurrency, I think that’s also helping to keep it ahead of other cryptocurrencies(shitcoins)
Most of these altcoins are truly shitcoins built to enrich their creators and I takes very serious community to get a coin to stand and most investors already go into the altcoin market to buy cheaper and withdraw all the money when the price goes up which is not good for any business.

[gunhell16]

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.

I definitely agree with your statement, dude what you’re saying is true. It’s not only Bitcoin that provides good opportunities in the crypto space we’re in. Like the altcoins you mentioned, many of them have been top‑listed in the crypto market for several years now.

Up to now, they’ve remained stable in the market. They may not have values as high as Bitcoin, but they still give many chances to earn profits, especially every time Bitcoin goes through a cycle, such as during halving. I guess the only thing I can say is that some altcoins are created mainly to scam—those are probably what people call “silent killers” but not the top‑listed altcoins in the crypto market.

[JaredIbrahim]

I feel you, anon. It's frustrating to watch Wall Street pervert the space.

But you're letting them win by giving up. That's the whole game—to dilute the message and shake out the true believers. They want you to think Bitcoin is just another ticker in their ETF circus.

The 21M limit can't be nullified by a million copies. The scarcity is in the protocol, not the branding. The noise and scams prove the need for the immutable ledger, not disprove it.

When the casino inevitably burns down, people will run toward the fortress, not away from it. All the "confusion" just makes Bitcoin's value proposition clearer in the long run.

Don't let the clowns make you lose sight of the prize.

[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.

I definitely agree with your statement, dude what you’re saying is true. It’s not only Bitcoin that provides good opportunities in the crypto space we’re in. Like the altcoins you mentioned, many of them have been top‑listed in the crypto market for several years now.

Up to now, they’ve remained stable in the market. They may not have values as high as Bitcoin, but they still give many chances to earn profits, especially every time Bitcoin goes through a cycle, such as during halving. I guess the only thing I can say is that some altcoins are created mainly to scam—those are probably what people call “silent killers” but not the top‑listed altcoins in the crypto market.

Not all altcoins are useless, scams, and destined to disappear. The cryptocurrency industry includes both bitcoin and altcoins, and many altcoin projects have emerged and are thriving. We should offer fair and objective assessments, avoiding bias towards Bitcoin and lumping all altcoins together.

As the cryptocurrency industry grows, Bitcoin will also benefit. Therefore, as cryptocurrency investors, we should learn how to distinguish between good and bad projects and manage risk. Avoid taking extreme sides, distorting the truth, and creating divisions that hinder the overall development of the industry.

[NeosGreen]

Most people have ended up losing money and getting scammed and moving to Bitcoin. Billions of people around the world have been scammed and lost a lot of money through shitcoin

That may be true in some cases. But what commonly occurs is, someone gets burned by a shitcoin
which makes them think all crypto is a scam including bitcoin. Then they never return to the market.

Then they go around telling everyone bitcoin and everything crypto is a scam.

Why do stocks and assets like gold keep going up while bitcoin is going down?  
That's because the value of stocks and gold is easy for anyone to understand.

But outside of our bitcoin bubble, the value of bitcoin is much harder for the average person to grasp.

People get wrecked on a shitcoin and blame the entire technology. It's like burning your hand on a cheap stove and swearing off fire forever. They don't stick around to learn the difference between a trust-minimized protocol and a pre-mined vaporware token.
Your second point is why we're still early. Stocks and gold are legacy concepts. A company makes profit. A shiny metal is scarce. Easy.
Bitcoin's value is abstract and revolutionary. It's digital scarcity. It's verifiable proof-of-work. It's a network that can't be shut down. It's not backed by anything it is the backstop. That's a huge mental leap.

[Synchronice]

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.

Are you into Bitcoin for its technology or are you for the money? If you are here because you appreciate the value of the technology that Bitcoin brings to modern life, then the price of this coin shouldn't be the number one priority. Altcoins don't steal money from Bitcoin's market cap too, they are no danger to Bitcoin and actually, they are very necessary because altcoins brings a different and innovative technology to the market too, which is very important because the competition keeps things going.