Are Altcoins dead? Bitpay’s CEO thinks so, I think he’s wrong

Bitpay’s CEO has come out and said that he thinks that Bitcoin will rebound but he thinks Alt Coins will not. He bases his opinion on the fact that all the new financial instruments and products are only for Bitcoin and not Altcoins. I believe that is a wrong way to think about the market as a whole. I don’t think that the survival of coins depends on whether wall street decides to make them financial instruments for speculating or investing, I believe ultimately it will come down to day to day and industry use cases. In this case, Bitcoin is not ahead of the other coins as Bitcoin has very little industry adoption and while there are places that will accept Bitcoin, I still can’t buy things with Bitcoin at the local store without changing it into Cash first. I think the coins that will moon the most are those with uses outside of the investing/speculating category. Coins like XLM, IOTA, XRP, and others that will create both communities and breach into industries like auto manufacturing, banking, security, remittance, and others will be the most successful as time goes on and Bitcoin is actually behind the game there so i do think that these Alt Coins will gain far more than Bitcoin during a rally and decrease Bitcoin dominance in the market.


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