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

[Renampun]

Most of these coins claim to be faster, more reliable, and more secure than Bitcoin.. But that's just hype at the beginning.. In the long run, these coins turn out to be nothing more than empty promises, and some are no longer maintained by their developers.. So it's no surprise that most of these coins drop in value, even by 99% of their initial price, because the hype is over and holders no longer find a reason to hold them long-term.

On the other hand, Bitcoin continues to grow and is trusted by more and more investors.. Even though it used to be discredited for being slow and unreliable on a daily basis.. Yet, despite those criticisms, it has continued to prove its advantages and establish as an asset that many investors are trust and hold over the long term.

[Sunshine1525]

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.

Minimal are the chances these days to be successful by exploring with the altcoins and various projects.

Even the ones that's survived still grow with the trend of Bitcoin, if it goes up they do same and also when it drops as well. Some people don't understand these pattern which is why they lose money in cryptocurrency by risking on the alts then disregard the real deal that's Bitcoin, it takes some a long while before they realize and focus on Bitcoin.

Before someone would consider gambling on alts or other projects the person should be holding a fair amount of Bitcoin cause that the surest deal in the crypto space, although many people gets discouraged cause of Bitcoin's price if only those ignorant folks were aware that price is not a big deal.

[Rengga Jati]

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%

I remember a coin, YFI. At one point, its price was several times higher than BTC. Many people loudly claimed that YFI was far superior to Bitcoin. They said that it could replace Bitcoin entirely. But, we know the reality ....

In reality, their utility and fundamentals are different. It is true that its price once was higher. But, that was only temporary. The situation today is vastly different. It currently sits at rank 295 on Coin Market Cap. This is steep decline from its heyday. Its price also trails behind ETH. Even currently hovering at just $1.8k.

This goes to show that many  claims simply don't hold up. When it comes to market cap and overall value, these assets cannot yet be compared to Bitcoin. Those claims effectively faded away. In fact, their value plummeted quite rapidly. This applies not only to YFI. But to various other coins that made similar bold assertions.

[Obari]

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.

I didn't pay much attention to that BCH even though I noticed it back then but I couldn't pay any much attention to it because what I was interested in back then was just bitcoin and the regular usdt if the need for a stable coin arose.

Even without reading the post of the op, I already knew why I was expecting to see and that was exactly what I saw an things like that, has made it possible for bitcoin to gain its relevance and value.

[bitbollo]

it has been always something similar, also considering the best altcoins... they have always the trends to goes to 0.
excluding some specific cases of the early times, you will always observe something similar and if you have traded the "novelty" coin, you have seen already those scenarios.
it's not must be seen as something bad, but just as another explanation of the "value" of creation of bitcoin, like a "spark that ignite a fire".
anyway, numbers on hands, it's pretty evident you can't have ever a "second" bitcoin or reproduce the same concept again.

[OcTradism]

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.

Invest my bitcoin to shitcoin.
Trade my bitcoin to shitcoin.

Above are most common actions of people who are shitcoin enthusiasts with belief that they can increase their capital by invest or trade shitcoins but they mostly have a same result, having loss, and losing their precious bitcoin.

If they simply hold their bitcoin, they can get a lot of profit, and it's more comfortable to hold bitcoin than trading shitcoins with a lot of stress and psychological effects which can harm their health too.

They jump out of a comfortable Bitcoin investment train to hop on a shitcoin roller coaster and they naively and blindly believe it's a smart decision.

[shinratensei_]

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.

Invest my bitcoin to shitcoin.
Trade my bitcoin to shitcoin.

Above are most common actions of people who are shitcoin enthusiasts with belief that they can increase their capital by invest or trade shitcoins but they mostly have a same result, having loss, and losing their precious bitcoin.

If they simply hold their bitcoin, they can get a lot of profit, and it's more comfortable to hold bitcoin than trading shitcoins with a lot of stress and psychological effects which can harm their health too.

They jump out of a comfortable Bitcoin investment train to hop on a shitcoin roller coaster and they naively and blindly believe it's a smart decision.

Worse thing about that is people believe the shitcoin is a fair and square game while it's cabal ridden market manipulated coin that is created to make any retailer lose their money. They could've made easy money with bitcoin but many decided to jump ship just because stories about flipping money on altcoins. I'm doing trading and bitcoin still make up huge portion of my trade for the year and even the year before. I have worse winrate with altcoins for some reasons because sudden pump and dump that happened out of nowhere.

[henmark]

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.

You're right, but there are also people who buy and hold altcoins for the long run, and I've seen a lot of such people who even have their whole portfolio consisting of only altcoins and there is no Bitcoin at all. I can't help but wonder what kind of a mindset a person might have to have Bitcoin out of their portfolio and only have altcoins as their long-term investment assets when Bitcoin is clearly the most superior one in this market. I have also seen people willing to sell their bitcoins to buy altcoins with the funds because they suddenly grew a belief that altcoins can make them better profits than Bitcoin in the long run.

I personally can't even think of getting my funds stuck in an altcoins for the long-term. As you said, I might buy them, and hold them for a while to see if I can make any profits with them or not. Unless their prices don't go down drastically, forcing me to keep holding them for longer, I wouldn't hold them longer than a month because I don't trust altcoins at all. We have seen so many incidents in this market with altcoins, causing the market millions of dollars in losses. We all remember the LUNA incident, right? It became the reason for the market to crash further and Bitcoin hit $16k just because of it.

[Lontor]

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.

Invest my bitcoin to shitcoin.
Trade my bitcoin to shitcoin.

Above are most common actions of people who are shitcoin enthusiasts with belief that they can increase their capital by invest or trade shitcoins but they mostly have a same result, having loss, and losing their precious bitcoin.

If they simply hold their bitcoin, they can get a lot of profit, and it's more comfortable to hold bitcoin than trading shitcoins with a lot of stress and psychological effects which can harm their health too.

They jump out of a comfortable Bitcoin investment train to hop on a shitcoin roller coaster and they naively and blindly believe it's a smart decision.

To say the truth I bought a alt coin around may and around that July/August I sold them all, I did made good amount of money, people are still making money from altcoins but so many are too caught in the dream.

They held and hope that it does better than Bitcoin, and this is impossible, altcoins trade are from smart people and Bitcoin is for everyone in general, the buying and holding is something that people should do with Bitcoin not altcoins.

Bitcoin will always be the best choice of investment, it's reliable and comfortable to hold for long term.

[Exitoral]

Time will always tell which coin was always fraud and which one will stand the test of time. All other coins was just doing copy cat without using one of Bitcoin core principle of the creator not having the power to do anything to do coin again. Other coins have shareholders and CEO. That one alone has already destroyed the whole thing. Mind you, it is not bad to have those. Just saying that Bitcoin success didn't come from having CEO or shareholders. It came by giving the people the power to them. That is one thing that made Bitcoin to be this successful.

[Cookdata]

Time will always tell which coin was always fraud and which one will stand the test of time. All other coins was just doing copy cat without using one of Bitcoin core principle of the creator not having the power to do anything to do coin again. Other coins have shareholders and CEO. That one alone has already destroyed the whole thing. Mind you, it is not bad to have those. Just saying that Bitcoin success didn't come from having CEO or shareholders. It came by giving the people the power to them. That is one thing that made Bitcoin to be this successful.

There were many coins that used Bitcoin principle, like they pretended to launch a premine coin, they launch different versions of what Bitcoin did and try to make it simple and decentralized but all of them failed. Some privacy coin founders even left the project and it became community driven and at the end, it never turned out well because one thing is missing and that is Satoshi endorsement. He is like a founding father of crypto, that's why Bitcoin is different.

I might actually give it to coins that wanted to do something different even though they failed, they weren't fork from Bitcoin due to concensus or created to want to do a competition with Bitcoin. Most of them failed because they didn't follow the trend and the lies other coins and shade they were throwing at Bitcoin. The fun the thing is they have Bitcoin as their first investment and these coins they desire then became their second options.

[Byebyebtc]

And after Bitcoin came out successfully, Intrest for these smaller coins increased as people expected something similar to Bitcoin to happen again, they alwaysed have a big barrier stopping them from buying Bitcoin at that price because of the pain of regret, "how can I buy the coin costly when others bought it cheap, I'll just get a new one and hope results come out similar" and that is how most of them got into these other coins,
It's a big lesson that evidence of success is a ringer in people's minds of what they should or should have done, as a matter of fact even if they bought at that costly price they would have still realized a very good amount of profits by now, that's why while I still have the chance to buy Bitcoin I will keep on buying

[taufik123]

2017 was a pretty good start for me to know about all the coins that say that they are better than Bitcoin,
especially BCH which blatantly says that as a completely genuine Bitcoin, LOL.

moreover, the claims that Craig Steven Wright (CSW) keeps saying that in the end it is just a boast paid directly
by Bitcoin with the destruction of BCH and even his team splitting up and creating their own projects.

The many coins that say they are better than Bitcoin eventually all lose value and are destroyed and abandoned,
Those that claim to be better are just a starting point to entertain themselves and emphasize that they are useless.

Only the top altcoins that do have good and sustainable development such as Ethereum and a few other altcoins that are still surviving today.

[macson]

That's what a shitcoin is for you. No matter how much they claim they can compete with Bitcoin, they're nothing.

This is why putting your money into a shitcoin is way riskier. Maybe at the beginning you can expect them to go up, but no one can guarantee that in the long run. It's still better if the shitcoin retains some value, but if it ends up losing 99% of its value, you're basically just donating your money to the people behind the project, while you're taking on all the risk.

[freedomgo]

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

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, those years really 2017 and 2018 were the altcoin bull run. Many suffered losses during that time but we cannot deny that many have profited as well.

At that time as well, regulators were not paying much attention to crypto, scammers have flourish.

It is not about you lack knowledge, there are some things that you have to watch and see what will happen to have experience about the thing. I believe Satoshi may not even know how things might be later.

Could be, but if I was an experienced trader or investor at that time I would have known when to exit, sad thing is I didn't, I got greedy thinking that those shitcoins I was holding would be like Bitcoin that could be good for the long term.

The altcoins increased in 2017, but they later fell significantly in 2018.

cryptomaniac_xxx, BCH is not dead, but neither moving forward. I will prefer to use shit coin for it than calling it dead, although we do not know if it will later be dead but the coin is still showing some momentum till now. If comparing it with bitcoin, bitcoin is more than 300 times greater.

There was still time to sell in 2018 but it never crossed my mind.
I feel like I was hypnotized, thinking that the market would bounce back just like how Bitcoin did.

[yhiaali3]

Sadly, some people still believe that Bitcoin Cash (BCH) was or will be a competitor to Bitcoin, as its fraudulent promoters claimed.

There has never been a day when any coin was able to compete with Bitcoin, and I do not know if such a coin will ever emerge in the distant future.

Anyone can claim whatever they want, but history alone proves who is wrong and who is right, and history has always proven that Bitcoin is king.