Altcoins are killing Bitcoin and Cryptocurrency as a whole

[galdur]

About as likely as worthless penny stock junk killing MSFT.

[worle1bm]

Development of new coins can be forward progress for the technology needed for long term use and adoption. Limiting the market to one option seems like a really backward view considering the origin of Bitcoin.

[Icon]

Altcoins are nothing other than cannon farter for btc.. a way for the poor man to get a little btc.. Look at it this way why climb a mountain when you could just go around it?

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[grumpyoldtroll]

Lol.. Every alt users are bitcoin users. Why spend time on lower class coin when you can join the bigger bitcoin ship.

[Oldminer]

Altcoins are nothing other than cannon farter for btc.. a way for the poor man to get a little btc.. Look at it this way why climb a mountain when you could just go around it?

Icon

lol btc...

Wait until these other more sophisticated altcoins take over...we'll see where your antiquated, slow-assed dinosaur coin is at then...oh and we wont go round your mountain, we'll go through it 

[devphp]

Lol.. Every alt users are bitcoin users. Why spend time on lower class coin when you can join the bigger bitcoin ship.

If by 'user' you mean someone who needs bitcoins to exchange them to other coins, then yes, almost every alt user is a bitcoin user. If you mean that every alt coin user also has bitcoins, that's not so. Bitcoin is still the fastest way to get alt coins, that is one of its main functions, remove that function and utility of Bitcoin is not that large.

[Eisenhower34]

Alt coins could actually be beneficial to bitcoin. They're good experiments for new features that could possibly be implemented into bitcoin in the future, though obviously 99 percent are worthless bullshit, but you never know...

This is not correct. Most altcoins are created to enrich the creators of such altcoin and so far none have added anything that is of any value that bitcoin does not already provide.

If a dev wanted to test a new potential feature for bitcoin then they could use the test net, then create a pull request on github to try to get it implemented into bitcoin

[Furio]

Every innovation made by alt, can be implemented by Bitcoin, Bitcoin still has the biggest community, but no one can tell you for sure.

[Wekkel]

With the first known altcoin since 2010, alts sure are killing Bitcoin. When will this fable finally die?

[bornil267645]

No, rather its the other way around. I think the altcoins are only proving the worth of the Bitcoin.

[Come-In-Behind]

Alt coins could actually be beneficial to bitcoin. They're good experiments for new features that could possibly be implemented into bitcoin in the future, though obviously 99 percent are worthless bullshit, but you never know...

This is not correct. Most altcoins are created to enrich the creators of such altcoin and so far none have added anything that is of any value that bitcoin does not already provide.

If a dev wanted to test a new potential feature for bitcoin then they could use the test net, then create a pull request on github to try to get it implemented into bitcoin

You're also horribly incorrect, " so far none have added anything that is of any value that bitcoin does not already provide." Does Bitcoin provide a decentralized exchage? Does Bitcoin provide anonymity without the hassle of creating new addresses was every transaction? Does Bitcoin provide very low bloat and micro transactions via the mini blockchain implentation?

No, but some "alt"coins do.

[KROIN_SYSTEM]

Altcoins aren't killing bitcoin or crypto at all. Altcoins will kill themselves eventually because it'll get to the point where people just get tired of the same crap over and over. The best way to deal with all these alts is to just ignore them.

Most of the altcoins first go up in price and then go to the bottom. Sometimes they are scam or virus to steal BTC.

>91% of market cap is on BTC . News are all on BTC. There is no chances that clones coins have a bad influence on BTC. For do that market need something different and helpful for mass market. We are work on it

[inBitweTrust]

Bitcoin has more development than all other alts combined.

Does Bitcoin provide a decentralized exchage?

BitXBay.com
https://bitcointalk.org/index.php?topic=589578.0

https://openbazaar.org/

https://github.com/darkwallet/darkmarket

Does Bitcoin provide anonymity without the hassle of creating new addresses was every transaction?

Hassle of creating new addresses? BitcoinQT, Mycelium and many other wallets do this automatically now with no effort from the user.

Additionally:
http://darkwallet.is/

Does Bitcoin provide very low bloat and micro transactions via the mini blockchain implentation?

SPV clients have no bloat. microtransactions cost only 6 pennies, or free with many bitcoin services.

[Come-In-Behind]

Bitcoin has more development than all other alts combined.

Does Bitcoin provide a decentralized exchage?

BitXBay.com
https://bitcointalk.org/index.php?topic=589578.0

https://openbazaar.org/

https://github.com/darkwallet/darkmarket

Does Bitcoin provide anonymity without the hassle of creating new addresses was every transaction?

Hassle of creating new addresses? BitcoinQT, Mycelium and many other wallets do this automatically now with no effort from the user.

Additionally:
http://darkwallet.is/

Does Bitcoin provide very low bloat and micro transactions via the mini blockchain implentation?

SPV clients have no bloat. microtransactions cost only 6 pennies, or free with many bitcoin services.

1) OpenBazaar is a decentralized marketplace, not an exchange.

2) Alright fine, bitcoin wallets allow automatic creation of new addresses to recieve bitcoins..But again it still isn't in favor of the average joe. If for ex: Amy gives John her (x)coin address to send money to, and John sends. Then Amy gives John another bitcoin address for John to send money to, and John sends, then an observer would be able to guess that those two wallets that John sent bitcoins to are linked or owned by the same people(s). Also, I'd assume it would be a hassle and get tiring having to continually give people new addresses for them to send bitcoin to.....It's all very inconvenient, and that's where altcoins with built in anonymity come to play. Also darkwallet is a 3rd party approach to anonymity, anyone with sense would know to avoid 3rd parties when it comes to using bitcoin(that includes web wallets).

3) Ok

[inBitweTrust]

1) OpenBazaar is a decentralized marketplace, not an exchange.

currency can be exchanged in marketplaces just fine.
Here are other decentralized exchanges if you prefer a very restricted marketplace that just focuses on tokens:

https://bitsquare.io/
http://coloredcoins.org/
http://www.coinsigner.com/

2) Alright fine, bitcoin wallets allow automatic creation of new addresses to recieve bitcoins..But again it still isn't in favor of the average joe. If for ex: Amy gives John her (x)coin address to send money to, and John sends. Then Amy gives John another bitcoin address for John to send money to, and John sends, then an observer would be able to guess that those two wallets that John sent bitcoins to are linked or owned by the same people(s). Also, I'd assume it would be a hassle and get tiring having to continually give people new addresses for them to send bitcoin to.....It's all very inconvenient, and that's where altcoins with built in anonymity come to play. Also darkwallet is a 3rd party approach to anonymity, anyone with sense would know to avoid 3rd parties when it comes to using bitcoin(that includes web wallets).

Are you familiar with stealth addresses, coinjoin and coinshuffle?

https://www.darkwallet.is/

With stealth addresses you never need to change your address.

[Coinshot]

Altcoins allow a easy way in to new investors, who then end up selling them for Bitcoins.

I think the benefits outweigh any positives.

[inBitweTrust]

Altcoins allow a easy way in to new investors,

How is investing in altcoins easier than bitcoin? As far as I'm aware bitcoin has the most onramps and sellers and most alts require you to buy bitcoin first before investing in their alt.

[Come-In-Behind]

1) OpenBazaar is a decentralized marketplace, not an exchange.

currency can be exchanged in marketplaces just fine.
Here are other decentralized exchanges if you prefer a very restricted marketplace that just focuses on tokens:

https://bitsquare.io/
http://coloredcoins.org/
http://www.coinsigner.com/

2) Alright fine, bitcoin wallets allow automatic creation of new addresses to recieve bitcoins..But again it still isn't in favor of the average joe. If for ex: Amy gives John her (x)coin address to send money to, and John sends. Then Amy gives John another bitcoin address for John to send money to, and John sends, then an observer would be able to guess that those two wallets that John sent bitcoins to are linked or owned by the same people(s). Also, I'd assume it would be a hassle and get tiring having to continually give people new addresses for them to send bitcoin to.....It's all very inconvenient, and that's where altcoins with built in anonymity come to play. Also darkwallet is a 3rd party approach to anonymity, anyone with sense would know to avoid 3rd parties when it comes to using bitcoin(that includes web wallets).

Are you familiar with stealth addresses, coinjoin and coinshuffle?

https://www.darkwallet.is/

With stealth addresses you never need to change your address.

1) I responded to this quote from you in which you say that some Bitcoin Wallets create addresses automatically and which I said(read above posts), that that's still inconvenient:

Hassle of creating new addresses? BitcoinQT, Mycelium and many other wallets do this automatically now with no effort from the user.

Additionally:
http://darkwallet.is/

2) Coinjoin is known as not being the best of ways to anonymize yourself. For Ex: You can recieve your own coins back when using coinjoin if there aren't a sufficient amount of coins participating in the mixing... Is stealth addresses implemented in the Bitcoin core(QT Wallets), if not then there's no point in bringing it up, as I said before that 3rd party addons should not be used by those dealing with Bitcoin/cryptocurrencies...

[Come-In-Behind]

Altcoins allow a easy way in to new investors,

How is investing in altcoins easier than bitcoin? As far as I'm aware bitcoin has the most onramps and sellers and most alts require you to buy bitcoin first before investing in their alt.

1) Altcoins tend be a lot cheaper than bitcoin initially...so it's easier for people to buy "full" coins when it comes to altcoins. For Ex: 1 full bitcoin would cost around $350, 1 full peercoin costs 82 cents.

2) Altcoins have the potential to make you much, much, much larger profits than Bitcoin. If Bitcoin were to go to $2,000, that'd be about a 3.5x increase in price. If a altcoin that costs $2, were to rise to even $50, that'd be a 25x increase in price...

3) There are also exchanges that allow you do buy altcoins directly with USD just as you would with Bitcoin, like Cryptsy.

[sandykho47]

Altcoins won't kill bitcoin, because :
1. Altcoin price is depend on bitcoin price
2. Altcoin price is very unstable & use bitcoin for exchange (while bitcoin is unstable), that makes altcoin price is extremely unstable
3. If some people's buy altcoin with bitcoin, they have to buy bitcoin first. That makes bitcoin price slightly higher
4. There won't be any altcoin bigger that bitcoin