I just wanted to get your opinions on this one , what do you think Bitcoin would be if there was no Alternative coins such Litecoin & Dogecoin and the others ...
I mean it would be better with or without them Bitcoin would have no value at all ?
i feel without alt coin or other coin, bitcoin stable famous with huge price and many user
altcoin not effect at bitcoin
Altcoin serve as a medium of bitcoin, without altcoins bitcoin will monopolized crypto currency if that happens bitcoins value will be much more higher, in every product it must need some competencies so the supply and demand will not go higher and higher. more competitors the value will become lesser
But the problem is, competition is almost non-existence. Have you seen merchants accepting altcoin as many as merchants accepting bitcoins? NO? Because for more serious people, altcoin is a joke for them at least at this point. And I think Bitcoin price is independent though there is a demand from altcoin community, but it is not a large as you think. The sad fact is that, whenever this people who bought in altcoin bag a profit in bitcoins, they will immediately convert it to fiat making them to dump their bitcoin earning to the exchange.