Bitcoin vs. All Other Coins, are they hurting Bitcoin?

[davidgdg]

Why is anonymity (did I spell that right?) so important? If you're not doing anything illegal or some kind of perv, then why would you care if people can track your purchases?

Taxes.

Paying taxes is immoral.

Taxes (and fiat currency) are used to support war and the murder/imprisonment of innocent civilians.

Using Bitcoin takes away part of that power.

...Paying taxes is immoral - yeah -...Taxes support war to protect YOU...

Beyond parody

[Dalmar]

Alts that are traded for USD on significant volume somewhat hurt bitcoin's market cap. Only litecoin has achieved this status so far. All the other crapcoins are rather irrelevant to bitcoin's market cap as you need BTC to purchase them and they have no liquid fiat markets.

[SirChiko]

In my opinion it kind of slows bitcoin, trades forus on trading altcurrencies instread into trading bitcoin even thought most altcoins are binded to btc exchange.

[Crypto_123]

It hurts only if people loose their trust in bitcoin, that they can pay with it.

In the real world dollards are not influenced by the trading of other goods. You can basically use every good as a currency as long as people trust in its characteristic to be accepted as a currency (i.e.you could use cigarettes as a currency).

[GigaBit]

No at all, some saturation is good.

So is some non-sense...

I even seen Anti-Keiser Coin lol

Those little known coins help spread the news that may have not been otherwise shared.

Other coins will rise, others will fall...

All new coins are niche based, like IsraCoin (IsraelCoin)

[Febo]

They are also helping bitcoin.
I planed to buy Monero, and to do that i first had to buy bitcoin. since Bitcoin is only currency with which i can buy Moneros on exchange.

[hodap]

Free competition is good for everyone.

[ShakyhandsBTCer]

In my opinion it kind of slows bitcoin, trades forus on trading altcurrencies instread into trading bitcoin even thought most altcoins are binded to btc exchange.

Alts are really just a waste of money. They do not add anything that bitcoin cannot do.

[Harley997]

They are also helping bitcoin.
I planed to buy Monero, and to do that i first had to buy bitcoin. since Bitcoin is only currency with which i can buy Moneros on exchange.

Several people would argue that alt-coins are hurting the value of bitcoin by reducing the market cap of bitcoin by the market cap of all of the alts

[STT]

No since they are not duplication.    Even if true have you seen how tiny the coins are, nobody comes close to btc

Alts are really just a waste of money. They do not add anything that bitcoin cannot do.

Thats nonsense since most are faster to process.   Some are adding features, perhaps one day btc will add these itself if they are that useful and practical.
Faster is good but nothing is altering that btc is the longest most secure mainstream crypto so I dont see how this argument comes close to true.   If I had a million to place its the only choice as the market depth elsewhere is not sufficient to make sure Im liquid at any point

[ShakyhandsBTCer]

No since they are not duplication.    Even if true have you seen how tiny the coins are, nobody comes close to btc

Alts are really just a waste of money. They do not add anything that bitcoin cannot do.

Thats nonsense since most are faster to process.   Some are adding features, perhaps one day btc will add these itself if they are that useful and practical.
Faster is good but nothing is altering that btc is the longest most secure mainstream crypto so I dont see how this argument comes close to true.   If I had a million to place its the only choice as the market depth elsewhere is not sufficient to make sure Im liquid at any point

If by faster to process you mean shorter confirmation time then this is not necessarily a good thing. A lot of alt-coins with short confirmation times have a number of orphans because miners keep propagating blocks at the same time. This makes the coin more vulnerable to a double spend attack.