Does too many altcoins pose a threat to Bitcoin?

[Domithra]

Bitcoin alone cannot fulfill the goal of the Blockchain technology. There is more to the Blockchain than what we know today. As the years go by, new coins will be created in an attempt to bring new solution to a problem in our society. Each altcoin has its goals, product and idea it sells.

[Crypto Prime]

The number of new altcoins is a good development for the crypto world. Because this will be a competitive competition for all coins. And with more and more choices, we will be more profitable as investors.

[cashbit]

If there are still lots of Altcoins being sold and there are also many new altcoin users who jump in and buy and invest in Altcoin, this will threaten the existence and condition of the Bitcoin market in the future. It could be that the price of Bitcoin dropped and even the price of Altcoin rose. If left continuously, Bitcoin will lose and be defeated by Altcoin. This is a bad situation for bitcoin.

[chapcha]

Bitcoin is a strong coin and bitcoin market capitalization is very good. Besides that, the bitcoin community is also very broad. So even though many altocins are launching at this time, it will not be a threat to bitcoin. I think the number of new altcoins will have an impact on the increasing prices of bitcoin and altcoin in the future.

[yitzjoe]

so far the threat to bitcoin has not been so serious because bitcoin still determines the price of crypto and altcoin still following what and where Bitcoin is moving. but at one time this can occur when altcoin replaces bitcoin today

[Contagem]

I don't think that altcoins threaten Bitcoin, but the fact that they take on part of its capitalization is most likely true. Some altcoins that are useless and undermine confidence in cryptocurrencies in general. Cases of fraudulent altcoins also negatively affect the reputation of cryptocurrencies and Bitcoin. But there are useful coins that solve a particular problem, are used as a utility on the platform, all these coins increase the credibility of cryptocurrencies, which has a positive effect on Bitcoin.

[Fenix]

No, I think that a large variety of altcoins, most likely, on the contrary, attracts people's attention to cryptocurrency. Tokens make up a significant part of the Altcoins, which have a narrow practical focus on their use and are generally very useful for people because they increase the comfort of their lives. Therefore, on the one hand, the emergence of multiple tokens distracts investors' funds, but on the other hand, it increases the general interest of people in cryptocurrency.

[vegasus]

Since the beginning, I have already guessed that the new Altcoin will be able to threaten the state of Bitcoin which is currently still ranked as the top of Cryptocurrency. Currently, Altcoin is increasingly growing and interested in Bitcoin are also many who are moving to Altcoin and choosing to invest there, this is clear and a threat to Bitcoin in the future.

[diygirl]

Many new altcoins come with technology and a better concept than bitcoin. But I don't see that altcoin will be a threat to bitcoin. Because in my opinion, bitcoin will still be safe because this coin is a strong coin that is difficult to drop.

[Raboni]

That is the purpose of altcoins to help bitcoin growth in terms of proving that it is the senior coin than others. New alts are trying to have something better than good in crypto however sometimes the time wasn't in favored that made the project leave crypto.

[paydayloan]

Although Altocoin was born to perfect the shortcomings that exist in bitcoin, but I think new coins can't fight bitcoin. So I think, the position of bitcoin is still safe. Because bitcoin is a digital coin that has a fairly strong community. So in my opinion altcoin is not a threat to bitcoin.

[Cangkirkopi]

I don't think alcoinstalk will be a threat to bitcoin because bitcoin is as good as it can be, but for me, bitcoin cannot be defeated because bitcoin is a coin that can be used as a reference for other coins For agan2 don't be hesitant and worry once bitcoin remains bitcoin invite friends and family to invest in bitcoin God willing success

[moonking]

Bitcoin alone cannot fulfill the goal of the Blockchain technology. There is more to the Blockchain than what we know today. As the years go by, new coins will be created in an attempt to bring new solution to a problem in our society. Each altcoin has its goals, product and idea it sells.

I don't think they pose a threat, and many people will invest in more than once coin anyways.  So bitcoin holders can also have a ton of other alt coins.

[JSD10M]

Bitcoin alone cannot fulfill the goal of the Blockchain technology. There is more to the Blockchain than what we know today. As the years go by, new coins will be created in an attempt to bring new solution to a problem in our society. Each altcoin has its goals, product and idea it sells.

I could not agree more to this statement. There are still a lot of things that needs to be done and Bitcoin cannot do it all that is why altcoins were created. They are not a threat to Bitcoin but something that will help achieve what Bitcoin is trying to do and even more (excluding scam altcoins of course).

[reshat]

 I want to share a post made during this time that I initially downvoted. (The reason I know this is because after a certain number of months/years, reddit does not let you change whether you upvoted/downvoted something). I downvoted it because it went against my biases which had already been built up around the scaling decision, and later I came back to this post after being referred to it again.