Quote from: Ucy on Today at 03:23:45 PM

Quote from: cogsmachine on July 14, 2022, 02:14:56 PM

Shouldn't all crypto be backed by bitcoin ?
How could a "Bitcoin Standard" emerge? For example, if you could pay for food service etc everywhere with bitcoin, would that be enough to essentially drive bitcoin as a backing standard ?

Technically they are backed by Bitcoin but in parasitic manner except for very few that may be able to stand on their own. If the host dies the parasites cease to exist.

I don't think that at this point there are any altcoins that can stand on their own. If Bitcoin crashed to 0 somehow there wouldn't be any altcoins left standing and I mean it.
What could destroy bitcoin? A world war, a worldwide ban, a working quantum computer ab;e to crack its code, a worldwide EMP attack, a global cataclysm? All those things would also crash altcoins. I can't think of a single thing able to destroy bitcoin that would allow altcoins to remain on the scene.