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    Author Topic: Bitcoin vs Altcoin; supporting each other?  (Read 268 times)

    • virendarnagpal (OP)
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    March 09, 2018, 07:50:17 AM
     #1
    Birth of  bitcoin was a big revolution.  Convenience of it's usage ; anonymity of transactions; breaking international boundaries made it popular and attracted crowds. 
    When demand grew the price started rising with the growth of the demand.  As the supply side could not meet the demand pressure resulting in very high price rise.
    Seeing profits; gains ; popularity attracted many other people to mine other alternate crypto currency coins which attracted people with lesser resources who were unable to buy bitcoin due to it's high prices.  But the alternate currency ICOs were finding it difficult to sell their coins so they started advertising through this platform in the form of signature campaign and other social media like face book ; twitter etc.  They started paying some rewards to the persons working for them on social media and wearing their signature. 
    Seeing this many new people entered in the market and earned good amount of money by supporting ICOs. 
    Now on getting the money from bounties they as per their primary wish to be owner of bitcoin started selling coins received and investing the money so earned to buy bitcoin and ultimately the price of bitcoin increased.  But due to selling pressure by bounty earners on new ICOs the price of those coins falls on the earth. 
    So we can see that the bitcoin  due to which alt coins came into existence, the same altcoins are supporting the growth of bitcoin so I think both are supporting each other.
    Above are my views I seek more guidance. 

  • Moneypham5
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    March 09, 2018, 08:22:14 AM
     #2
    There are a lot of Exchange services from Bitcoin to your altcoin type very fast, but take a look at the transaction costs and exchange rates, most of the exchange rates will not be good and very high transaction fees, up to 0.5%. The Binance floor fee is only 0.1%. Always find out what kind of altcoin you want to invest and analyze its potential through the altcoin home page, community, white paper, forum, money market, etc. Do not invest in emotions or fears.

  • Twinscoin2017
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    March 09, 2018, 08:37:27 AM
    Merited by Ronaldcoin2017 (16)
     #3
     I believe that altcoin and bitcoin is really connected. Becuase if we take a look at the price of both bitcoin and altcoin. If the bitcoin fall down the price of all altcoin is really affected and it is also slowly droping. Because i see that some altcoin well really use bitcoin for an exchange. So then if the bitcoin fall the altcoin is also loss its shine. Maybe the altcoin is a bitcoin branches and if bitcoin die all altcoin is also died.

  • Ronaldcoin2017
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    March 09, 2018, 08:43:16 AM
     #4
    Quote from: Twinscoin2017 on March 09, 2018, 08:37:27 AM
    I believe that altcoin and bitcoin is really connected. Becuase if we take a look at the price of both bitcoin and altcoin. If the bitcoin fall down the price of all altcoin is really affected and it is also slowly droping. Because i see that some altcoin well really use bitcoin for an exchange. So then if the bitcoin fall the altcoin is also loss its shine. Maybe the altcoin is a bitcoin branches and if bitcoin die all altcoin is also died.
    Yes i strongly agree on that the bitcoin is maybe the mainstream on the crypto feild and if it will lost some other crypto coin will also lost. I think altcoin is made for bitcoin. I see that both coin is really supporting each other and we don't have to compare it because we can do gaining on both coin.

  • serizawax
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    March 09, 2018, 08:49:03 AM
     #5
    Actually I am very sorry for people who are willing to buy a lot of coins from ICO, but in reality the price of coins they buy is never worth high, I also have friends who have bought coins on one ICO project, but almost 1 year more, the price of the coin is still far of hope.

  • aoluain
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    March 09, 2018, 09:15:44 AM
     #6
    yes they are interlinked to a degree.

    Every trading exchange pairs all the alt coins to BTC so
    every time you trade a coin it is traded to BTC and back
    out of BTC into whatever other coin you want.

  • felipe04
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    March 09, 2018, 07:27:37 PM
     #7
    yes they help each other and best example of it are in different exchanger because we can exchange bitcoin to altcoins so we make some transaction in the both coins

    You can see also the price of any digital currency drops following by bitcoin but after that they follow bitcoin to when it get really high

    I think even they not help each other company still all are worth it

  • GoldnOil
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    March 09, 2018, 08:04:18 PM
     #8
    Quote from: Twinscoin2017 on March 09, 2018, 08:37:27 AM
    I believe that altcoin and bitcoin is really connected. Becuase if we take a look at the price of both bitcoin and altcoin. If the bitcoin fall down the price of all altcoin is really affected and it is also slowly droping. Because i see that some altcoin well really use bitcoin for an exchange. So then if the bitcoin fall the altcoin is also loss its shine. Maybe the altcoin is a bitcoin branches and if bitcoin die all altcoin is also died.

    I agree with your statement.  Right now as the price of Bitcoin fall so does all the ALT prices.  I am of the view that all ALT coins and BTC should be paired again the 8 major pairs like USD, JPY, GPB, EUR and people in their respective country allowed to buy them officially and declaring them...

    just one thing that when Bitcoin rises it takes the ALT Coin prices also up with it and lot of us made a good money on ALT coins....   Verge XVG is a good example...

  • hodlftw
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    March 09, 2018, 08:09:31 PM
     #9
    Everything in this world is inter-connected in some way or another but here you have a direct relationship between the two. Sometimes I feel like there is an inverse-relationship and sometimes I feel like there is no relationship between the two. Tough for me to pinpoint, and I wonder if that has to do with the ever changing market dynamics. You are always going to have a change in market partcipants, # of projects being developed, market caps, btc dominance, and a myriad of other variables. These variables make it quite complex and that is why I feel for the average trader you will pretty much always be playing a guessing game, and that is why I stick to hodl.

  • JohnHero
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    March 09, 2018, 08:10:52 PM
     #10
    When altcoins are going down, Bitcoin is holding pretty nicely. Because people are selling they alts for Bitcoin, most of the time.
    Anyone, most of the market goes down...

  • Dodoymabs
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    March 09, 2018, 08:20:30 PM
     #11
    Quote from: hodlftw on March 09, 2018, 08:09:31 PM
    Everything in this world is inter-connected in some way or another but here you have a direct relationship between the two. Sometimes I feel like there is an inverse-relationship and sometimes I feel like there is no relationship between the two. Tough for me to pinpoint, and I wonder if that has to do with the ever changing market dynamics. You are always going to have a change in market partcipants, # of projects being developed, market caps, btc dominance, and a myriad of other variables. These variables make it quite complex and that is why I feel for the average trader you will pretty much always be playing a guessing game, and that is why I stick to hodl.
    Hodl is the one way to help crypto assets to increase its price and sooner we will earn with our sacrifices. It's not that easy to hodl a coin because we will be probably facing problem of its ups and downs. Those who have a strong faith will be rewarded with good amount of earnings. Also, bitcoin and altcoin are connected with each other because they are all crypto which has the same characteristics.

  • mickeybuddy27
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    March 09, 2018, 08:44:40 PM
     #12
    Quote from: Ronaldcoin2017 on March 09, 2018, 08:43:16 AM
    Quote from: Twinscoin2017 on March 09, 2018, 08:37:27 AM
    I believe that altcoin and bitcoin is really connected. Becuase if we take a look at the price of both bitcoin and altcoin. If the bitcoin fall down the price of all altcoin is really affected and it is also slowly droping. Because i see that some altcoin well really use bitcoin for an exchange. So then if the bitcoin fall the altcoin is also loss its shine. Maybe the altcoin is a bitcoin branches and if bitcoin die all altcoin is also died.
    Yes i strongly agree on that the bitcoin is maybe the mainstream on the crypto feild and if it will lost some other crypto coin will also lost. I think altcoin is made for bitcoin. I see that both coin is really supporting each other and we don't have to compare it because we can do gaining on both coin.
    I can say that they supporting each other. Every altcoin are exchanges to bitcoin that makes bitcoin to have low price as altcoin drops also but I notice that when ethereum pump bitcoin drops. It is fast to trade when altcoin is directly exchange to bitcoin because it is less transaction fees.

  • Walkenman
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    March 09, 2018, 08:55:22 PM
     #13
    It seems to me that they are connected, you can observe that when bitcoin falls, all the altcoins swiftly pursue it. But this is normal, it would be much stranger if it were not.

  • Seriousbizz
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    March 14, 2018, 01:21:06 PM
     #14
    As at now the growth of altcoins depends greatly on the growth of bitcoin. If bitcoin goes down, they all do, when bitcoin goes up they all do. Anyone who wishes for their altcoins to grow should also support the growth of bitcoin because that is how altcoins also grow

  • xuan87
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    March 14, 2018, 01:27:39 PM
     #15
    I think yes both Bitcoin and altcoin need each other to survive, Bitcoin usually being trade with alt coins, trading is the source of Bitcoin value, a lot of Bitcoin transaction coming from trading, and alt coins also give a lot investors choice and feature to used, so it make people keep on interesting with crypto currencies

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  • 12tribes
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    March 14, 2018, 01:41:18 PM
     #16
    The bitcoin certainly rules the market and to a large extent determines the prices of the alternative coins.... However the volume of Ethereum in market seems to be unaffected by the crash in bitcoin price. The same goes for litecoin and other profit making coins at the market. So the bitcoin needs the altcoins and the altcoins  need the bitcoins for optimal performance on the floor.

  • zenrol28
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    March 14, 2018, 01:50:33 PM
     #17
    All altcoins want to prove that they're better than bitcoin. Is that supportive? Altcoins are competing to overthrown bitcoin. For bounty hunters ICO early investors, altcoins are source of earning more bitcoins without the hassle of mining trading. But of course there's always risks involved, especially when these altcoin's value were just dump to the ground. Just like bitconnect for one. And there are more out there so be cautious.

  • Pursuer
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    March 14, 2018, 01:55:28 PM
     #18
    Quote from: virendarnagpal on March 09, 2018, 07:50:17 AM
    Seeing this many new people entered in the market and earned good amount of money by supporting ICOs. 

    this is the problem right in the middle of your comment!
    and I don't know how, you knowing this already, are using the words "supporting" each other!!!

    the problem is that these days all the newcomers are only interested in making money from cryptocurrencies. they see bitcoin and think they have missed out, then they also see the advertisement of all these useless tokens which are promising them big returns so they start pouring their money in their pockets. in the end we end up with a bloated altcoin market which is in a gigantic bubble and its burst is actually taking bitcoin down a little too!
    Only Bitcoin

  • dedens212
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    March 14, 2018, 02:00:08 PM
     #19
    I agree with you,  i think there are many links between Bitcoin and Alt coin, as you mentioned that as demand grows prices start to rise, with so much demand for Bitcoin if not offset by its products then the price will soar. so I think Bitcoin and Alt coin support each other.

  • Reid
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    March 14, 2018, 02:04:37 PM
     #20
    And that should not be the case.
    This iCO's should have been supported until last if the project is real and there is a product.
    True we all want bitcoin, it is safer that way than staying with an altcoin so they sell it for good. But how can this projects meet the goals that they want if they are losing investors just because of the dump of the bounty hunters.

    Strong hands are needed and not those I have heard "they need to feed their family".

    If that is the only purpose then no ICO will be successful unless there is a group of investor that will wait for a long time.
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