Post
Topic
Board Bitcoin Discussion
Re: On most altcoins disappearing
by
deisik
on 28/01/2020, 13:46:15 UTC
The thing is, when that time there's a lot of running ICO, they invested on it as ICO that time are so profitable, but then its just normal for risk management purpose that the team who own a project in ICO would raise BTC and ETH as these two coins are more stable compared to the others and even some have converted their ETH for bitcoin, so btc's demand increases

Okay, I see your point

It could be said that people who invested in altcoins and ICO's were also indirectly investing in Bitcoin. That, technically speaking, may be true per se, but we must keep in mind two things. First of all, investing in Bitcoin through ICO's (as you now confirm) doesn't mean that people wouldn't have invested in Bitcoin if there hadn't been these ICO's

Further, and more importantly, these investments failed for the most part in the end, with folks losing their money. Obviously, they wouldn't lose it had they invested in Bitcoin instead. So any way you look at it, these failed ICO's damaged Bitcoin in the long run even if they had first contributed to its growth (which is a big if in and of itself)