0 sats \ 1 reply \ @Hopeful_Sat 9 Jun 2023 \ on: Will the lightning network destroy and absorb all altcoins? bitcoin
Over time, I think, they will mostly die out as more and more projects are launched on the LN that is built on the best monetary system that humans have to offer. The ones remaining will be for trying to build projects outside of the LN due to the difficulty or inability to actually build it on the LN (funding for these projects will also play a role in keeping them around as it seems to be easier to get funding for these things by issuing hyped up coins than it would be to ask for direct investments on the LN)
So if a project is a good project that addresses a certain gap in the market (which ever market) and the team behind it doesn't want to integrate into the LN, then the market has to use their chain in order to bridge that gap if no competitor offers a similar solution on the LN, which is also possible
Overall my feeling is that I only "trust" Bitcoin and no altcoins but I think the general market still sees Bitcoin and alts as similar investments with differentiating potential increases in value. For this reason I own some altcoins, but I don't see them as investments. They are projects that have been around for a while, has solid teams behind them and address a specific need in the market, but I still see it as more of a gamble than an investment (so what, I used to try my luck at the casino every now and then, so I decided I'd rather put that money in alts). As soon as another bull run comes along I plan to liquidate everything (if there is anything left) and channel whatever I can get into Bitcoin, over time. I think that around the bear market after the, hopefully, coming bull market the market will start to realize that the best way to build a project is to use Bitcoin/LN and investors will also start to prefer such projects whereas they love to chase those possible 1000X gains in the alts market
Yes, I like your position. I also have a couple of altcoins and they are growing well. But over the months and years, I see that these projects are being demonetized. That is, periodically they rise in price, then fall. But if you look at the graph, relative to the price of Bitcoin, they are constantly losing their value. This is probably the case with all altcoins. And recently, I see a lot of games, social networks, services with cashback, etc., actively implementing Lightning. And it's really cool! It is convenient, it is fast, it is simple and affordable. And I think that this trend will continue. Thank you for your opinion
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