Are Altcoins just as important as Bitcoin?

[bosshyip]

In any ecosystem, be it in nature or business, there is always a competition. And most often than not, the best always rises to the top. And here in our crypto ecosystem, a competition do also exist. Between Bitcoin and Altcoin. We all very well known that bitcoin, being the first and most proven cryptocurrency already took the center stage in crypto market. Now that altcoins came into the picture, where does it really stands? What will be the selling point of altcoin that will eventually led the bitcoin enthusiasts to finally switch places?

[Aliados]

With regards to importance of altcoins, it is important in crypto. Bitcoin will not go too far without altcoins. We couldn't specify the value of bitcoin now without altcoins help. Whether we like it or not altcoins and bitcoin are important in crypto. There would have unbalance weighs without one.

[Goldman]

Off course. Altcoins are also an important part of the digital crypto market. But comparing with bitcoin, no! They are not as much as important as bitcoin.
But no denying that, their importance has to be paid.

[Niteroy]

In terms of benefits, Bitcoin's utility for society is greatly overrated, because there are many altcoins that have more attractive characteristics and perspective. For example, there are a lot of coins with much less transaction fees and faster speeds than Bitcoin. There are whole ecosystems that have many functions and capabilities: Ethereum, ICON, EOS, NEO, Komodo. Therefore, I believe that altcoins have a future and their significance in the crypto industry will be increasing every day.

[cryptothief]

Altcoins definitely have a big part to play, but the fact that Bitcoin still holds around 37% market share with over 1600 other coins listed is testament to it's strength. The top ten make up about 75% altogether and the rest are fighting over less than 25%. Bitcoin dominance has been dropping steadily, back in March 2017 it was a huge 75%, so investors are definitely diversifying their portfolios. The problem is finding the longer term holders, many altcoin traders do it to build up their Bitcoin holdings and have no intention of holding onto their altcoin investments in the long term.

[Bobcrypto]

Yes you are right, however, in any healthy ecosystem there is always competition and the best usually rises to the top. We see this in nature and in business, so not having this in the crypto ecosystem would be a mistake. Many Bitcoin elitists believe that there should only be one cryptocurrency, but having other altcoins as an option would both spur on innovation, but also ensure that it truly is the best option out there. Otherwise, we may end up with a Bitcoin that doesn’t fit everyone’s unique needs around the world. Having only one cryptocurrency as an option for the world would also give the network too much power and if the core developers made changes that the people didn’t agree with switching to another coin would be more difficult. Having choice is freedom and allows people choose the best option for them and balance the power of this new internet money.

[Crestie C. Tuvilla]

Yes altcoins is important as bitcoin,because they are important now in crypto market,.

[spatialiste]

Yes altcoins are important, and eventually it will become more important than Bitcoin.

It is the altcoins who will propose the real cases of application of the blockchain, because the bitcoin is "simply" a way to transfer money in a safe and traceable way.

Take Wabi coin for example, is already functional, it allows you to ensure that the product you buy is not counterfeit, it give you a perfect traceability.

I think it's this kind of project that step by step will open the crypto world to everyone.

[Raboni]

As we all know about altcoins that it is standing in crypto with some authority to handle the digital era. Bitcoin only couldn't stand up and push the ecosystem of crypto. The environmental needs of bitcoin is altcoins. We won't evaluate bitcoin as valuable if we couldn't see the presence of altcoins and that is the fact. Altcoins are important in crypto without it less attraction.