Bitcoin needs Altcoins as much as Altcoins need Bitcoin

[admin]

If you are an idealist, you believe in bitcoin because it is removing the governments from the money printers, or at least it's supposed to try to do so.
In reality, most flocked to bitcoin to get rich. True libertarian rebels are few ...

Then Altcoins came and kept coming ...

If you are a bitcoin hardliner, possibly focused on a small aspect, and do not see the whole picture, happy with your stach, and want the rest to run after satoshis ... You probably hate altcoins.

Bitcoin needs Altcoins, because people need to believe they can back another bitcoin, without this believe the crypto marketcap would have been a tiny fraction of what it is today.
Altcoins need bitcoin, because it is the brand that regroup them all, the name that promotes them all.

The crypto ecosystem is one, and if you fail to realise that, it means your heart was not in the right place to begin with.

[MrSpasybo]

Bitcoin needs Altcoins, because people need to believe they can back another bitcoin, without this believe the crypto marketcap would have been a tiny fraction of what it is today.

Altcoins need bitcoin, because it is the brand that regroup them all, the name that promotes them all.

We only have one common market and I believe that every component of it, whether it be shit-coins or hack-coins, has a certain role in this market. For now, let's just talk about BTC and ALTS.

ALTS need BTC: BTC is accepted in many countries, BTC is the first cryptocurrency to have a Spot ETF, BTC keeps the pace of the entire crypto market going through many cycles with the halving event, BTC leads the global crypto trend. To overcome the crypto winter, the recovery of BTC price is a necessary condition to create trust and FOMO. The strong price increase of some ALTS only creates doubts.

BTC needs ALTS: ALTS helps create a perfect process to pump prices. Before ALTS, the crypto market had a very short cycle in 2011 and BTC peaked at $30 and then dropped 94%. But then, the emergence of ALTS with new concepts of blockchain technology (scalability, smart contracts) created a more diverse and attractive market for everyone. The cycle "pump BTC - pump ALTS - pump BTC - pump ALTS" continuously repeats to attract more money into this market. Without ALTS to help BTC cool down its growth, the collapse would have come sooner and BTC would not have been able to achieve the very impressive ATHs in 2013 - 2017 - 2021.

In the future, when blockchain technology will be truly widely applied, perhaps ALTS will have its own fate, depending on user needs, and BTC may become the standard of currency. But for now, everything still just stops at the financial market, BTC and ALTS still need each other to move forward together 💪💪💪

[Dr.Bitcoin_Strange]

There is a popular saying that a tree cannot make a forest. I don't really feel that Bitcoin would not have been able to dominate, even if it were the only coin. As a matter of fact, I believe that so many dead altcoins and fake scam projects have even caused so many people to have misconceptions about Bitcoin.

I just feel that altcoins are just there to fill the space if they pump and dump, and if any investor is not lucky enough to buy a token at the right time and also sell at the right time, they could get their token dumped, which will result in a big loss for them.

It is very easy to say that altcoins would not have even been able to last for a very long time if there was no coin like Bitcoin. But with the way Bitcoin was designed, it would have been very possible for Bitcoin to keep living for decades without any altcoin.

With the thousands of altcoin projects and about 50% of those projects falling and crashing with investor funds, it would have been very difficult to trust cryptocurrency if there was no Bitcoin.

[Nwada001]

Bitcoin is popular, but most people on crypto today tell you that their involvement in crypto all started with Altcoin and not just straight to bitcoin, which makes me also believe that both bitcoin and altcoin need each other's support in order to survive and give the purpose they are all here for.
 
The only thing here is that most of these altcoins have shown a lot of people on their other side, which makes them lose faith and believe in it, but in a normal sense, we all need altcoins; they are an alternative to bitcoin and should be treated as such, and there are times when we need them, even if we are high bitcoin enthusiasts. In the time of this network congestion, we can all see how important the altcoins are in terms of our daily life payments and the rest of them.

[aiviaa485]

If we talk about Bitcoin and Altcoins it is the same as discussing the symbiosis of mutualism between bees and flowers.
Bees take starch juice from flowers to be used as honey.
The flowers that are over to bees can bloom even more if the bees perched and spread the pistil of the essence so that the flowers can grow in other places.

Bitcoin like the first flower created has many benefits for all altcoins.
And for Altcoins it is like a bee that can alight anywhere with the flexibility he flies to various flowers.

This is just a figure of speech between Bitcoin as flowers and altcoins as bees because both of them have a way of working symbiosis of mutualism and mutual benefit.

[philipma1957]

I am a fan of some altcoins.

Ltc
doge
grin
monero
etc

[yohananaomi]

-snip-
This is just a figure of speech between Bitcoin as flowers and altcoins as bees because both of them have a way of working symbiosis of mutualism and mutual benefit.

It's like food without seasoning, so they are related to each other and difficult to separate, complement each other, and, of course, need each other. How can Bitcoin run on its own without the support of altcoins? It is clear that there will be no benefits that can be taken; if they are separated and not connected to each other, it is likely that they will be equally worthless and no benefits can be taken.
They have become an inseparable unit and will always complement each other's strengths and weaknesses.

[Sim_card]

Bitcoin and altcoins need each other to keep the market booming, and to also allow investors to gamble with their assets in order to make profit or run at loss. Assuming there was no altcoins, people wouldn't have had that much believe in bitcoin because they wouldn't see its uniqueness. In every line of business, there must be different products of the same kind, to make the market interesting for investors to decide which coin they want to invest on, and at what time duration. Some people are still making profit with altcoins. However, bitcoin remains the superior but we have many inferiors, that are used to scam people off their hard earned money. Now that bitcoin transaction fee is high, there are some altcoins that are good to use for your transactions like litecoin. As a matter of fact is like as time goes on altcoin will be used more as an alternative payment method than bitcoin. Altcoins need bitcoin for their price movement.

[bitmover]

The crypto ecosystem is one, and if you fail to realise that, it means your heart was not in the right place to begin with.

I think people can do whatever they want with their money.

Personally, I hold 85%+ btc and just 10% of ethereum and 5% or less of others.

But I do like to use ltc xmr usdt usdc to move my money around. Specially now that bitcoin fees are high . But I believe bitcoin fees will come back to normal and I can sell those coins...

There are also appearing now second layer solutions for bitcoin, like L-BTC (Liquid). Which is quite interesting.

[gunhell16]

They just need each other, in my opinion, because honestly, in my observation since 2017, Bitcoin's popularity has accelerated because of altcoins, if it were only Bitcoin and no altcoins, I'm sure it wouldn't be like the price value of Bitcoin that we have right now.

Maybe the other communities here can agree with what I'm saying. Yes, Bitcoin will be recognized, but not as fast as the rise in price value that Bitcoin has, but because of the altcoins that have appeared since 2017 until now, and it is even more recognized because of cryptocurrencies.

[Gurujebs]

Then Altcoins came and kept coming ...

If you are a bitcoin hardliner, possibly focused on a small aspect, and do not see the whole picture, happy with your stach, and want the rest to run after satoshis ... You probably hate altcoins.

Bitcoin needs Altcoins, because people need to believe they can back another bitcoin, without this believe the crypto marketcap would have been a tiny fraction of what it is today.
Altcoins need bitcoin, because it is the brand that regroup them all, the name that promotes them all.

The crypto ecosystem is one, and if you fail to realise that, it means your heart was not in the right place to begin with.

This is an Altcoinstalk forum and Altcoins comes first in discussion but I humbly disagree with what you said.
How many altcoins has popout in the coin market cap and coingecko over the last 2 years, more than thousands of them and how many has survive to date? Just few of them if not less than 100 because they are shitcoins with empty promises. Some of them were able to rise because of the hype and don't have a single real volume other than the bot activity.

Check Bitcoin activity, it's one of the best and the best that ever remain, it's the reason why this market is still breathing and going well. The halving and ETF contributed to the recovery of the entire market but altcoins were busy doing the regular meme things. Bitcoin doesn't need altcoins to survive but altcoins need Bitcoin to survive. However, altcoins is the reason why 80% of people are here in the crypto space.

[Zed0X]

There are people who would say they would never use alternate blockchains but would not mind profiting from altcoins. That sounds ironic right? Maybe so but it could be seen from a different angle. They don't necessarily hate. They only acknowledge/use the superior protocol in terms of security and decentralization but they do not deny the earning potential of native tokens of another blockchain.

BTC and Bitcoin blockchain - for actual usage
Altcoins and Alternate blockchains - for speculation

[philipma1957]

-snip-
This is just a figure of speech between Bitcoin as flowers and altcoins as bees because both of them have a way of working symbiosis of mutualism and mutual benefit.

It's like food without seasoning, so they are related to each other and difficult to separate, complement each other, and, of course, need each other. How can Bitcoin run on its own without the support of altcoins? It is clear that there will be no benefits that can be taken; if they are separated and not connected to each other, it is likely that they will be equally worthless and no benefits can be taken.
They have become an inseparable unit and will always complement each other's strengths and weaknesses.

If all alts dropped away btc could survive but not that well. BTC has shown it is easy to flood the blockchain and tie it up. Alts like LTC and Doge are 12x the blockchain carrying ability so they are 12x harder to clog up.

[yohananaomi]

-snip-
This is just a figure of speech between Bitcoin as flowers and altcoins as bees because both of them have a way of working symbiosis of mutualism and mutual benefit.

It's like food without seasoning, so they are related to each other and difficult to separate, complement each other, and, of course, need each other. How can Bitcoin run on its own without the support of altcoins? It is clear that there will be no benefits that can be taken; if they are separated and not connected to each other, it is likely that they will be equally worthless and no benefits can be taken.
They have become an inseparable unit and will always complement each other's strengths and weaknesses.

If all alts dropped away btc could survive but not that well. BTC has shown it is easy to flood the blockchain and tie it up. Alts like LTC and Doge are 12x the blockchain carrying ability so they are 12x harder to clog up.

You are right,  we have to recognize the greatness and resilience that Bitcoin has had so far, and everyone cannot avoid that reality. But even though Bitcoin can stand alone, the main goal of crypto may not be fulfilled: to provide more contributions than the wishes of most crypto users. CMIIW

[TomPluz]

If you are an idealist, you believe in bitcoin because it is removing the governments from the money printers, or at least it's supposed to try to do so. In reality, most flocked to bitcoin to get rich. True libertarian rebels are few ...

Yes, we have to be honest that majority of the people in the cryptocurrency market are here for the money and yes we all want to be rich so we can experience financial freedom away from the control of the government or at least we can stand on our own most especially during difficult times. Nothing wrong with that per se as money is the number one motivator and this is a big reality we are in right now. But one thing that's good with Bitcoin in particular and cryptocurrency in general is that things don't end with the money as we slowly learn the many good things that Bitcoin is bringing to us and the many benefits of the myriad of alts offering us many choices at hand. In other words, it is plain to see how BTC and the alts are working side by side like partners and not as enemies...with one complimenting each other, boosting the market for good and enticing more and more people into the industry. I would consider alts to be niches while BTC is the overall leader, under a symbiotic and not parasitic relationship (of course except the many scam and fraud projects around). And we should not wonder why more alts can be coming to market to compete and capture people's attention and support...and so we are seeing success stories popping up from time to time.