Post
Topic
Board Bitcoin Discussion
Re: For any crypto-coins to have long term future, you need an ecosystem around it
by
biggbox
on 26/05/2016, 17:16:10 UTC
If we were to bring the same rational to the realm of cryptocurrencies, it is not likely any of the new coins (including Ether) is going to be successful in the near future unless there is an ecosystem around them. Building an ecosystem is unlike constructing a new building. It requires a vision and fulfillment of a need. So, if Bitcoin as a cryptocurrency is able to fulfill this need, where will other coins stand?

They really don't. Altcoins stand on the technical side. They all share the same common basis (Bitcoin) and try to improve over technical aspects, protocol, aspects, etc. These coins aren't really after the ecosystem and commercial side of things. Their purpose is to give ideas for Bitcoin development and to try to compete with it at the technical level.

It's a bit rare to see a website accepting some altcoin and not Bitcoin. Exceptions are websites who are closely related to the altcoin in question or even ran by someone deeply involved with it, or by the developers.

Yes I agree new altcoins come up with new technical concepts that will drive the thirst for knowledge, just like how academia dive into research to advance humanity. But if there is no end goal to get more people to adopt a certain altcoin part from trading it for more Bitcoins, then what is the long term goal?