Can other coins exist without bitcoin?

Ahmedo24

Valued Contributor
Recently the Cardano developer and founder in person of Charles Hoskinson
said bitcoin needs to improve otherwise it could die a natural death because aside the fact that it grows because people are Investing it but it doesn't solve any problem. Personally I felt that was his opinion because bitcoin has made online transactions and transfer of cross border payment much faster so and bitcoin has been the only coin that has cleared ways for every other coin that is existing today and definitely without Bitcoin other coins might not be in existence at the moment . Do you agree that other coins can exist without Bitcoin in trend?
 

Daykas

Verified member
That would be a big lie if someone downplay the effect of Bitcoin in the world we are today.
Though another person might have been thinking of creating this kind of stuff but the fact is that Bitcoin pave way for the rest of the coins.
Probably without Bitcoin we might not hear about the like of Bitcoin cash and other alternative coins
 
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Olajidey

Valued Contributor
Bitcoin brings about all the coin in existence now and bitcoin is the only first coin to come into existence without the existence of the coin. So I believe if there is no bitcoin other coins can also survive alone. Bitcoin makes the transaction easy across the continent, you can be in Nigeria and be sending money to someone in China.
 
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marcusfe

Verified member
I don't think it is possible because the cryptocurrency innovation actually started with Bitcoin and even for some times there was no coin to support it in the market until others started emerging. Notwithstanding, the inspiration might come from different source if Bitcoin had not started.
 
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Samuel72

Valued Contributor
According to my own point of view I believe it is very possible for other coin to exist without Bitcoin. bitcoin is just the most popular of the whole of cryptocurrency. it does not mean that bitcoin makes the whole cryptocurrency what it is right now. they are other cryptocurrency which you can invest in and also make huge profits. Ethereum is one of the most popular cryptocurrency all over the world
 
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btaliat

VIP Contributor
It is only a personal opinion as you have rightly said. Bitcoin is now solving what fiat currency is currently solving. Now PayPal, one of the giant payment platform is using it. Meaning, it will be used in sending and receiving money. Also, there are some outlets and even some shops that use bitcoins. So I don't think other coins can outshine bitcoin
 
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Ahmedo24

Valued Contributor
According to my own point of view I believe it is very possible for other coin to exist without Bitcoin. bitcoin is just the most popular of the whole of cryptocurrency. it does not mean that bitcoin makes the whole cryptocurrency what it is right now. they are other cryptocurrency which you can invest in and also make huge profits. Ethereum is one of the most popular cryptocurrency all over the world
You may be right but don't you think with the crictisms and challenges bitcoin has faced in the past which it triumph and became the most popular and powerful coin if it crash today every Investor in Crypto currencies will loose hope in other Crypto currencies no matter useful they may be?
 
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wizyoung54

New member
I agree with Cardano, ADA developer. When bitcoin was developed, there were only about twenty million bitcoins. Almost all or all has been mined and is being owned already. It will get to a time bitcoin will get scarce and more bitcoin will be needed. In normal currencies like the dollar, more dollar get produced but more bitcoin can't be produced. Soon other coins can stand on their own as they are also gaining momentum like etherum
 
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mcjerry

Verified member
Recently the Cardano developer and founder in person of Charles Hoskinson
said bitcoin needs to improve otherwise it could die a natural death because aside the fact that it grows because people are Investing it but it doesn't solve any problem. Personally I felt that was his opinion because bitcoin has made online transactions and transfer of cross border payment much faster so and bitcoin has been the only coin that has cleared ways for every other coin that is existing today and definitely without Bitcoin other coins might not be in existence at the moment . Do you agree that other coins can exist without Bitcoin in trend?
Without bitcoin other coin will not exist. That is very true. That is because bitcoin is the first crypto currency to ever exist and other coin came after bitcoin . It is bitcoin that opened door for other crypto currency.
Now the door is opened already. And many coin has entered. So the existence of other coin does not depend on bitcoin anymore. Only that if the price of bitcoin increase today other coin will increase together with bitcoin
 
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Ozigba Richard Lamai

Verified member
Yes many coin existing without Bitcoin and many go in are still growing at your room is also one of the fastest growing cryptocurrency apart from Bitcoin and it's also making wave, best buy bitcoin is one of the most popular and growing cryptocurrency in the world today doesn't mean that other cryptocurrency cannot exist without it there are also other fast-growing cryptocurrency like the like litcoin etherium and so on.
 
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Ahmedo24

Valued Contributor
Without bitcoin other coin will not exist. That is very true. That is because bitcoin is the first crypto currency to ever exist and other coin came after bitcoin . It is bitcoin that opened door for other crypto currency.
Now the door is opened already. And many coin has entered. So the existence of other coin does not depend on bitcoin anymore. Only that if the price of bitcoin increase today other coin will increase together with bitcoin
Actually not all coins followed the price trend of Bitcoin in fact that sometimes bitcoin will be rising while the coins will be falling likewise sometimes bitcoin before and other coins rise especially very small coins that are new in to the crypto-currency market though I still believe that bitcoin remains the benchmark and if it seems to exist lots of coins if not all cryptocurrency world will collapse.
 
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Adetayo100

Verified member
Without bitcoin none of the other coin would have existed, Bitcoin was like the benchmarks of other crypto currency and it is also the standard in which others are being measured too. When bitcoin rises in value other coin follow suits and when it drops in value other drops also so i think without bitcion other coin wouldn't have existed.
 
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mcjerry

Verified member
Actually not all coins followed the price trend of Bitcoin in fact that sometimes bitcoin will be rising while the coins will be falling likewise sometimes bitcoin before and other coins rise especially very small coins that are new in to the crypto-currency market though I still believe that bitcoin remains the benchmark and if it seems to exist lots of coins if not all cryptocurrency world will collapse.
No, not all crypto currency depends on the rise of bitcoin. The new coin don't depend on bitcoin because they are not mature yet. But when they have come for some months and they have had there limit. They will eventually follow bitcoin.
Like YFI. It went to $50,000 when it first showcase. Later moved to $30,000 and below and never go higher. Now that bitcoin is increasing, YFI is also increasing
 
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Ahmedo24

Valued Contributor
No, not all crypto currency depends on the rise of bitcoin. The new coin don't depend on bitcoin because they are not mature yet. But when they have come for some months and they have had there limit. They will eventually follow bitcoin.
Like YFI. It went to $50,000 when it first showcase. Later moved to $30,000 and below and never go higher. Now that bitcoin is increasing, YFI is also increasing
That was my first sentence if you had read it well, there are some coins that doesn't follow the path of bitcoin at initial but immediately their bull run stops and they are not mostly traded or used for one or two activities on the internet they follow the trend of bitcoin. YFI value became more like static when DeFi project reduced drastically.
 
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