Quote from: MusaPk on Today at 05:10:29 PM

Quote from: Queentoshi on February 10, 2023, 07:42:57 PM

Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?

There are thousands of cryptocurrencies available in the market but still bitcoin dominance is 40 to 50 percent. We have to understand the fact that bitcoin is the only fully decentralized cryto currency available in the market. Ethereum shifting from PoW to PoS is clear indication that its controlled by a group of developers who have the ability to manipulate it and same is true for other alts also. No matter how many alts we have, there is no threat to bitcoin dominance.

I think the dominance of bitcoin over other alternative cryptocurrencies out there is absolute and not 40 to 50 percent. There are a whole load of alternative coins with weirder names out there and no one comes even close to bitcoin. So youre right in a way, cause no matter how many alt coins there is out there, there isnt anyone amongst them that can be a threat to the dominance of bitcoin.
I also think that the number of different cryptocurrencies out there would confuse the ignorant newbie on what coin to invest in.