Tell that to users of centralized exchanges with mandatory KYC verification, who voluntarily agree to the presence of these intermediaries who cooperate with regulators.

There are also plenty of people with negative experience of investing in BTC and there can be many reasons for this, but most often it’s the investor himself who failed to use this financial instrument in a way beneficial to himself.

Now we have not only one bitcoin, but thousands of unnecessary shitcoins (which will multiply). That's how it happened.

In part, this is exactly what happens, because shitcoins take over part of the BTC capitalization, which gets stuck in useless projects and fraudulent owners.

It's practical true that bitcoin has created an easy flow of recognitions and adoptions of all cryptocoins with the fact that it's the first invented cryptocurrency and has also had great and transparent projected potentials which the AltCoins has emerged to be imitated.
Obviously these AltCoins has been indefinite to meet up with an equal potentials such as the bitcoin could posses but unfortunate that some individuals who're unknowledge in differentiating between bitcoins and AltCoins are chances to have their funds invested on the AltCoins with an intention of Investing on bitcoin.
So right there I'd agree with you Op that on the other way that has been a distraction to bitcoin surging to a greater volume of adoption.
But on a Contrary Op, I'd tell you that the series of challenges which the AltCoins has caused to bitcoin really brought about competitions in the crypto industries which has also contributed to the wider spread awareness of crypto currencies due to their miners and developers in both speculations and hypes based on their individuals.
The series of competitions has actually made investors to understand that bitcoin is the right crytop currency which one can reliably invest their funds on.
And you must remember that where there's much competitions would also attract more attentions of the people in the society.
So, the nature of numerous AltCoins in speculations is also taking along the awareness of bitcoin which World of today is based on research and everyone so much believes on the first technology among other similar ones to be the authentic modern development. For that as it stance, AltCoins is also promoting the adoption of bitcoin in some certain estimate.

The straight answer is a no. Altcoins does not stop Bitcoin adoption in anyway and I believe Bitcoin adoption is not matured yet as the process is ongoing and will eventually happen. We must appreciate the progress Bitcoin have made so far such as the ETF approval, Bitcoin being listed in NY Stock exchange and not forgetting the widespread acceptance that Bitcoin is enjoying now. It is a matter of time before Bitcoin is finally adopted in the mainstream meanwhile altcoins does not have a part to play in all these.

I believe the adoption rate of bitcoin is not that high because aside that majority are still clueless about it, the government itself is not even supporting bitcoin and continue to discourage the people not to fall on its trap. So it’s not those altcoins that are distracting bitcoin adoption, but it’s more on the people’s perception towards bitcoin.

However, with the help of social media, the people are now slowly grasping the idea of bitcoin with the help of crypto influencers. Unfortunately, majority of these crypto influencers are feeding the wrong information instead of educating the people and open their eyes to the reality of bitcoin.

That is the most decieving thoughts of some investors, thanking altcoins or the entire cryptocurrency as a quick profits scheme, and most of those teams already understood such investors thought's that is why their develop loads of coins all for just short terms base and only market forces becomes the hypes and baseless promises of huge returns.


That the reasons why many of those coins have failed to perform, such in a way that only the developer (Dev) gains for such a project and all investors will lose if the failed to pull out they money on time.

Well, they are not really making any changes for bitcoins and the evidence for that is the price of bitcoins itself because it hasn't been overcome by any other cryptocurrencies available right now and it has remained on the top for more than a decade and continuously dominant others due to the fact of its being decentralized and also its popularity among the crypto enthusiast and the crypto investors. The only problem here is the shitcoins that have nothing to do with bitcoins because they were just created for fooling newbies and taking away their money from them in the name of new altcoins investment opportunities, if we could only get rid of those, surely altcoins will be more a push-forward thing for bitcoins today.

Altcoins also helped for people to get into the crypto market, for example the craze on meme coins brought more new people in to the crypto investments for the right or wrong reasons.

If we have only bitcoin then it may over crowd the network if every crypto user is using it which makes it not really possible to use by everyone and also having one of its kind will be easier for the governments to suppress its adoption in one or other way.

Since we have thousands of cryptos there is no possibility of controlling especially bitcoin can maintain its actual decentralized naturee.

Not entirely. It may feel like "all the money that could have gone to bitcoin instead goes to altcoin" to people with straight up style of thinking, this is why I believe that most people are forgetting the fact that we are seeing most people who fear that they missed their chances on bitcoin, so they are investing into altcoin and wouldn't have invested into bitcoin at all if alts did not existed.

This is why I believe that people who do their best with altcoins are people who are doing their best, that's it. I think the greater return would be the fact that we are going to end up with a situation that could benefit them. Just ignore it all together and it could do very well. I personally hope for the best on the long run.

Bitcoin is good without altcoins, and altcoins are definitely not a distraction to bitcoin’s adoption. Most probably, we are still seeing a late bitcoin adoption because the people are just starting to recognize bitcoin, it’s advantages and disadvantages. But we all know that the world is actually heading for its bitcoin global adoption slowly, until majority of the countries learn to accept and legalize bitcoin, and use it in their everyday life. I know bitcoin process is getting there, so we just have to be patient since bitcoin itself is still young and have not totally matured yet.

I don't think altcoins have reduced the level of adoption for bitcoin in any way, but as a distraction it has been a very good one that has swayed many into believing and even thinking that most crypto currency are scam and not good to invest in, and I would even say that its not worth it to invest in any other crypto currency other than bitcoin if you really want to invest and not gamble away with your funds.

Going back to the topic of discussion, I believe that altcoins are also playing a role in bring adoption to bitcoin, cause right now many that started put with some altcoins are now seeing clearly the need to participate in investing in bitcoin, the margin of superiority of bitcoin with other altcoins is now clearly seen. Some persons started out their investment or tried out crypto currency due to the hype of profit from one altcoin or the other, and even if it didn't turn out well, they now have an idea of what crypto currency is all about.
Personal is started out my crypto journey from one altcoin which was tera luna, although it didn't turn our well for me, right now I'm investing in bitcoin cause I see light in it and this is same experience for many others  too.

In conclusion altcoin has played a role in both contributing in mass adoption for bitcoin as the real deal of the crypto space and also a distraction for those seeking quick profits in the crypto space. I believe its balanced.