Re: Can too many Altcoin's can become a threat to bitcoin's existence

Quote from: OSYA on October 11, 2018, 12:51:04 AM

Quote from: AAKODI on September 19, 2018, 03:03:44 AM

More and more ICO projects are coming based on many major currencies and specially in this year the trend increased rapidly with many reputed organizations that are in various industries and trades decided to start there own digital currency to make there business more effective and efficient in order to gain more profit.
Can these new launching Altcoin's make a negative impact on bitcoin's expansion in the future because we all know in order to increase the demand, usability and accessibility of bitcoin it should be widely use in most business areas but if Altcoin's take these opportunities how it can achieve its vision to become a widely used digital currency

New altcoins that appear every day and disappear same fast can't be a threat to a stable almost 10 years old bitcoin. It is like a mouse threating an elephant. No chance. I think for each altcoin will be a buyer, user, just the market will expand with more selection of altcoins for any wallet (sum) and purpose.

Absolutely agreed, and to add up, every new alternative crypto currencies that are sprouting all over the crypto currency realm has a pairing with Bitcoin or almost all of them has a pairing with Bitcoin and with this scenario these new altcoins are all dependent to the growth of Bitcoin. To be honest most of the alternative crypto currencies that are sprouting like mushrooms all over crypto space will end up as a shit coin. Bitcoin is been in this industry for almost a decade and Bitcoin has proven a lot unlike those new altcoins and Bitcoin's security level is at the highest ranks when you compare it to others. Cool

I admit that there are also good altcoins out there that have awesome, useful and unique features but I don't think that they will be a threat to Bitcoin or they will have a chance to replace Bitcoin on the top rank. Cheesy