The fate of coins that claimed to be "better than Bitcoin" in 2017

[Rruchi man]

Anything that's different than bitcoin is a gamble these days. While there are some projects that have survived, if you go with the old traditional way of investing of lessening the risk, choose bitcoin.

No matter how much you try to caution people to be careful of new coins in the market, any well-packaged developer who comes around to flaunt an attractive project and include a lot of hype will always get the attention of new investors in cryptocurrency looking for the next big opportunity to invest that little amount of money they have and make a huge ROI because they missed out on profiting on Bitcoin and have heard of how Bitcoin turned people into millionaires.

FOMO will always be one of the major reasons new coins that are well-hyped will have interest.

[pawanjain]

To be honest, I kinda miss 2017. Back then people were making money in every coin they invested in. The market was pumping hard.
We could see double digit returns in a matter of few days without doing much of a research. Probably the best days every crypto user had.
The good days didn't last long though. The immediate bear market wiped away the gains from the entire bull season and we can see where those coins are today.

[Zigabel]

This chart shows the relative performance of the top 100 cryptocurrencies by market capitalization as of June 18, 2017, against Bitcoin. Almost all of these coins ended with -99.9%

Bitcoin has proven that its liquidity, the trust of both small and institutional investors, and the network's unquestionable security are more important than the technical characteristics of its underlying layer. And of course, Bitcoin Cash, which some considered the "main competitor" to Bitcoin, has lost 99% of its value relative to BTC.

Bitcoin cash at a time did felt like some Ponzi, only that it was strategically arranged that it was rather seen to be a competitor to Bitcoin rather than to bee seen for exactly what it really is. as at the time, a lot of persons never foresaw the long term sustainability in Bitcoin and so they just wanted a share of the trend and move, so they would go for Bitcoin Cash which wasn't sustainable but did looked like the better competition giving off all that makes them believe it was a better option, i believe its clear now which was better.

One feature that got Bitcoin knocking off a lot of this others is in its sustained liquidity and security, at that time a lot of persons including myself and a few friends i know then didn't understand all of this and we all fell for the false hopes we got form these other projects that came with so much to be optimistic about, and because they were very volatile, we could see exponential appreciations and taught it to be real value, no understanding there isn't sustainability with such. Bitcoin has and will continually stand the test of time to be the most trusted and reliable amongst them all, some has already liquidated and not in existence any more.

[The Cryptovator]

Bitcoin has proven that its liquidity, the trust of both small and institutional investors, and the network's unquestionable security are more important than the technical characteristics of its underlying layer. And of course, Bitcoin Cash, which some considered the "main competitor" to Bitcoin, has lost 99% of its value relative to BTC.

I never considered Bitcoin cash as a Bitcoin competitor. Although I have traded Bitcoin cash once in a while, it is considered shitcoin. Roger claimed it’s real Bitcoin, though, but the community never accepts it as an alternative to Bitcoin or a competitor of Bitcoin. As a result, the price of that shitcoin dropped significantly.

However, some others also claimed their coin as an alternative to Bitcoin or real Bitcoin, like Bitcoin SV. At the end of the day, all the so-called Bitcoin competitors become shitcoins. It’s true there are a few strong altcoins, but don’t consider them Bitcoin competitors ever. It’s either for the community support or liquidity; Bitcoin is Bitcoin.

[Kelward]

As a newbie then I used to wonder why other cryptocurrency are called alternative coins (altcoins) to Bitcoin and as I grew my experience in the cryptocurrency market I gradually understood the reason why, Bitcoin is in a class of it's own therefore others should be referred to as it's alternatives. As long as Bitcoin remains relevant which I don't see why it wouldn't all the altcoins will continue to be in second class, I cannot foresee any altcoins that can come near Bitcoin marketcap. The graph in the OP clarifies a lot about the competition in the crypto market from their early days, clearly many tried to measure up when Bitcoin hasn't yet become the brand that it is today but they all failed, better for them to remain in their alternative to Bitcoin category.

[AmaGold70]

And of course, Bitcoin Cash, which some considered the "main competitor" to Bitcoin, has lost 99% of its value relative to BTC.

With the way bitcoin cash (BCH) was, it should be very easy for people to know that the coin will lost it. The coin that its developer named bitcoin to deceive people as if it is the real bitcoin, but which people that are in crypto that know about what was going on know as an altcoins. The airdrop alone should be a reason most people should also know that it would be a shit coin.

There is no cryptocurrency that can ever be like Bitcoin, and if there will be any I don't think such coin has existed yet. Some of these cryptocurrencies founders gave their project name after Bitcoin thinking it will attract attention like Bitcoin, but their notion was wrong because they are not even introduced on the ground of transparency, but purely for their own benefits. Some of this projects only grow on hype, and drops in value on the long run. In the past, I have seen some cryptocurrency rise in value so massively, but they also drop in value drastically without being able to sustain the growth. Honestly, at this very moment their is no cryptocurrency that can compare itself with Bitcoin.

[boyptc]

Anything that's different than bitcoin is a gamble these days. While there are some projects that have survived, if you go with the old traditional way of investing of lessening the risk, choose bitcoin.

No matter how much you try to caution people to be careful of new coins in the market, any well-packaged developer who comes around to flaunt an attractive project and include a lot of hype will always get the attention of new investors in cryptocurrency looking for the next big opportunity to invest that little amount of money they have and make a huge ROI because they missed out on profiting on Bitcoin and have heard of how Bitcoin turned people into millionaires.

FOMO will always be one of the major reasons new coins that are well-hyped will have interest.

Just like how the crypto market goes on a cycle, it's the same for the people that comes in next. Those who have learnt the valuable lesson in the past about these projects that are in hype will stop doing so.

While there will be new comers who will think that they're on a sale and it's gonna be an easy profit for them.

First come, first serve as it is.

The next ones will learn theirs after experiencing that decision and why everyone keeps on telling them to avoid investing into those hyped projects.

[Junii]

People should realize that any coin that comes as an airdrop is mostly not good for long term investment. You could take examples from previously airdropped coins like Arbitrium, Uniswap, Jupiter, Starknet and the rest. They don't have long term utility and it's definitely not good enough to compete with bitcoin, not even now or in the future.

Many of the altcoins follow a certain pattern, and one with the experience and knowledge would immediately identify a scam or a rugpull project without a hassle.

You are right mate the projects that launched after 2024 i mean just before the bull run through airdrops majority of them are now coming to an end. During bull run projects like arbitrum uniswap even bera chain launched at a good price and i was expecting these projects would go on for much longer even most of these projects had decent products and a lot of hype during the bull run but they couldn't keep that momentum alive once the initial excitement died down. i think just hyper liquid is currently going well while majority of other became dead.

[Umulala-alala]

I agree with you, almost all altcoins have failed to maintain a long-term upward trend.
On the other hand, many people view altcoins as a tool for providing liquidity or a short-term investment, as they do not tend to hold them for more than 6 months at best.

Bitcoin is the best coin to hold for long, despite the upward trend and backward trend that bitcoin has been showing in the past years it's still maintaining a long time upward trend.

Altcoins or shitcoins are pump and dump coin, they are never trusted to be held for a long time because there is possibility that everything can drop down in a blink of an eye.

[Cookdata]

Not only those Bitcoin forks coins, but there is also an attempt by the followers of ETH, which they call the "the Flippening", they were close to really become the top crypto that time, but Bitcoin emerges and then ETH was not the same anymore.

Same with Ripple, the so called "Rippening", but it was worst than the Flippening, as it was not even close.

But for those Bitcoin forks, they are all dead by now and we can say that the rest is history.

Most coins then lack marketing strategy, they don't have any content to convince people, they don't know how to attract people and because already stole the spotlight, it was there only call to use "better alternative" for Bitcoin with some silly features and most didn't end well. I so much hate the way ripple trolls on their comments then, I feel shame for that community, their old posts are just funny.

When Satoshi came, he didn't try to steal any spotlight from anyone, he didn't say he is here to replace PayPal or another company. He came with something different, decentralized and censorship resistance, cap supply, no middle man, all of these was what interest people to trust Bitcoin and gave into Bitcoin, the altcoins came and started the nonsense campaign to want to be better than Bitcoin. If not for greed that some people will want a shitcoins to steal the spotlight because of their bags, why would you want something build by a team with fat allocatione to be better than the legacy coin? I guess this is why all of them failed.

[ColdLava40]

Many of the altcoins follow a certain pattern, and one with the experience and knowledge would immediately identify a scam or a rugpull project without a hassle.

It's simply just common sense but many will overlook these facts hoping to buy at a low price and with ais of bagging profits.

Many came but Bitcoin conquered. They kept on claiming to be the future and preyed on privacy since they know that is one future that Bitcoin do not offer. There were many others too but we can't hear much about them today.

Im sorry for those who fell for those promises and ended up with bags of dumped tokens or coins. The reality is that many of them never return from the dead.

[Giwagi56]

Source

Going through the statistics on the chart and the list of coins that were shown accordingly, it is so notable to discover some coins that are better as in those days but I know where to be found today, which shows that we can't always rely on every project that was being introduced as a reliable one for our investment, some are still performing averagely, but not as expected after their previous performance is that motivated a lot of investors through consider them, you can only see that bitcoin is to accept that would have been invested as at 2017 and by now you will be ever grateful for such decision than any other coin or token being listed.

In that 2017 when there are still coins challenging bitcoin there are people who will think bitcoin will not succeed, there are people who will prefer those coins over bitcoin, some of these coins are no where to be found because they have crash that no one can recognise them anymore, those who invested in them will never forget their actions because bitcoin is now doing more than 10 times than them.

There are some projects we shouldn’t believe but believing in bitcoin is a blessing for every investor, because those who believe in it are the ones who are enjoying their investment today, i didn’t blame those who did not believe in bitcoin because no one is perfect but they should have invest in bitcoin even if it is with small amount,  when it comes to crypto, you have to be a smart person.

[Big Dirams]

I agree with you, almost all altcoins have failed to maintain a long-term upward trend.
On the other hand, many people view altcoins as a tool for providing liquidity or a short-term investment, as they do not tend to hold them for more than 6 months at best.

Bitcoin is the best coin to hold for long, despite the upward trend and backward trend that bitcoin has been showing in the past years it's still maintaining a long time upward trend.

Altcoins or shitcoins are pump and dump coin, they are never trusted to be held for a long time because there is possibility that everything can drop down in a blink of an eye.

Bitcoin is surely the top coin amongst other cryptocurrencies and it a reliable investment that has a strong tendency of making us good and quality returns. Bitcoin has overcome so many obstacles and challenges for over several years now and this alone serves as a great reason for us to believe in bitcoin and see it more like a long term project and not the short term projects.
However, you are right list of this altcoins and memecoins are not suitable for a long term holding because they don’t mostly have that great potential of growth like bitcoin.

[BABY SHOES]

There is no name for shitcoin even though it is popular until now to be a bitcoin killer.

People should realize that any coin that comes as an airdrop is mostly not good for long term investment.

That's shitcoin... 99% are considered dead and not even passionate anymore in the market, the community has left it.

I agree with you, almost all altcoins have failed to maintain a long-term upward trend.
On the other hand, many people view altcoins as a tool for providing liquidity or a short-term investment, as they do not tend to hold them for more than 6 months at best.

The fact is... most altcoins come to the market by providing little liquidity, when the market trend decreases then all of them collapse, it is considered not the best investment.

[Ever-young]

This is evident that Bitcoin doesn’t need further convictions for adoption. Even without this chart, so far most of the altcoins we invested short term are no longer there, and there is no coin, be it altcoin, shicoins etc that has gained soo much trust like bitcoin.

I don’t know about others but personally, I have never invested for long on any of these altcoins but bitcoin.
The concept of the bitcoin cash alone is enough for me to know that this is only going to last for awhile, and it actually did.

Actually I’m not even surprised seeing this because it’s not far from my expectations. Bitcoin remains the most trusted  digital asset with high liquidity.
To think that some people actually chosed some of these altcoins over Bitcoin because of ease, now it has become a tough reality for some, knowing that most of the altcoins are fading away while bitcoin remains the high value asset.

[I_Anime]

This chart shows the relative performance of the top 100 cryptocurrencies by market capitalization as of June 18, 2017, against Bitcoin. Almost all of these coins ended with -99.9%

Bitcoin has proven that its liquidity, the trust of both small and institutional investors, and the network's unquestionable security are more important than the technical characteristics of its underlying layer. And of course, Bitcoin Cash, which some considered the "main competitor" to Bitcoin, has lost 99% of its value relative to BTC.


Source

Many was rug pulled because of this statement “the next bitcoin “ . That’s how you know a project is going to be a sh*t project, the moment they start comparing it to Bitcoin. Funny how more projects like that how still going to come as time goes (that claim to be next or better than Bitcoin ).

Like I always say silence the noise focus on the main goal , building a better investment in bitcoin. Avoid coins that are sh*tty they might come out well due to hype and end badly due to lack of real utility.

[Smartvirus]

One thing I’ve had to understand in life is that, people would always leach from you without having to appreciate your true value. I’ve seen that being done in the movie industries so much, especially with the John Wick franchise.

That’s usually the case with Altcoins with Bitcoin. They always come in promising everything on how they would be much better than Bitcoin and how they would be the next Bitcoin, where people would have the opportunity to invest early and have huge returns but, what we get often is a pump and dump coin and somehow, people never learn from the trends.

[promise444c5]

This was also the year when I made a lot of profit due to many altcoins that pumped like crazy. But my mistake was I believed they had a future like Bitcoin so I did not sell them all, in fact I still have a lot of worthless coins now in my MEW and most of them are ETH tokens. Those days, I know they will not happen again so I'm no longer investing in altcoins now as most of the time they end up being scams.

Some lessons are meant to be learnt the hard way.. you’ve learn yours   . I have so much doubt that they will survive the next 8~10 years . There’s always an option to convert  but you already lose the money invested on them so i wouldn’t be so fast until the next cycle to see how it turns out

I still lacked knowledge at that time as I was easily tempted by the hype. And actually I believed at that time that those Bitcoin forks were going to replace Bitcoin as they had huge volume and they were pumping,

Don’t beat yourself too hard.. you’re probably not the only one that had same thoughts. Not me though, didn’t involve myself in anything crypto until 2020

[knuckey]

Some coins are no longer visible. To date, nothing has truly been able to compete with Bitcoin. Bitcoin has all the reputation, trust, and security it has. Its closest competitor is only Ethereum, which has consistently maintained its position. Even if someone is able to compete with Bitcoin in the future, it will take a very long time before Bitcoin is replaced, and that could happen.

[fillippone]

A side effect of this graph is that it makes you realise how difficult it is to actually do the following: "I trade Shitcoins to accumulate more bitcoins".
This is deemed to fail. You must be very lucky to buy a shitcoin on the leg up on that graph. And even if you are lucky enough to bet on the right coin, you must be smart enough to sell at the right time, before the inevitable disaster happens.