Can you have crypto without Bitcoin?

[Anonymous No.58071530]

If, for whatever reason, Bitcoin would fail tomorrow, what would happen to the rest of the crypto economy? Would it all just collapse, or would Ethereum simply take the throne and business would carry on as usual? I imagine most people would equate such an even with the end of crypto in general and it would probably affect the wider economy too. The question is in which way? Even if it's not likely for BTC to just stop working overnight I find this to be an interesting thought experiment and would like hearing your opinion on it.

[Anonymous No.58071542]

>>58071530
Ethereum would take the throne yes but i think at 3 digits for a while

[Anonymous No.58071598]

>>58071542
I guess it's true. Most people would lose confidence in the stability of crypto in general and it might take a while until most people understand that Ethereum is proof of stake so is less likely to fail the same way as BTC.. even if it might just fail another way. I guess people who stake would need to leave en-masse, which they might given a huge crash of the price.

[Anonymous No.58071919]

>>58071530
Most people would rightly assume that the floor can fall out from underneath ethereum at any moment as well, and it isn't serious or for the long term. Anyone saying otherwise is coping and talking up their bag imo. If Eth maxies desire to see btc flipped, it would make more sense for them to wish for that to happen slowly rather than overnight.

[Anonymous No.58072539]

>>58071530
>Bitcoin would fail tomorrow
wtf does that mean "fail tomorrow"
the only way bitcoin 'fails' is if ppl stop using it

[Anonymous No.58072572]

>>58072539
>If people stop using it
Nobody uses BTC for anything except speculative investment anymore. Pretending otherwise is pure cope

[Anonymous No.58072573]

>>58072539
no one uses it, lol
it's a ponzi, there's no price floor

[Anonymous No.58072588]

>>58072572
>>58072573
i never said transact, i meant use it as a store of value, aka everyone just sells it and or nobody buys it anymore.

[Anonymous No.58072619]

>>58071530
xmr will always be there as the privacy king on darknet.

[Anonymous No.58072620]

>>58072588
seems pointless in the face of better designed alternatives like Ethereum
you get yield, utility as gas, demand from actual use, less inflation, etc.
people are too retarded to understand Ethereum (and Bitcoin), but it seems pretty inevitable

[Anonymous No.58072626]

Eth is dead so probably SOL.

[Anonymous No.58072633]

Altcoins are fundamentally mushrooms that can only grow in Bitcoin's shadow.
"Altcoin season" is what happens when some of Bitcoin's moisture drips on to them.
Take Bitcoin away and they'll dry up and die.

[Anonymous No.58072636]

>>58072626
SOL is already worse than any of the big L2s

[Anonymous No.58072647]

>>58072620
Except ETH purposefully crippled itself forever by decoupling from the tangible world by going POS
That alone means ethereum, not bitcoin, is operating on borrowed time

[Anonymous No.58072656]

>>58072647
use etc then pussy put ur money where ur mouth is

[Anonymous No.58072668]

>>58072647
this is just left curve bitcoin bullshit
mining is a mechanism to decide which block is canonical, it does not embed any value in bitcoin
it's also less equitable, because mining is only profitable when done wholesale/professionally, centralizing it over time

[Anonymous No.58072670]

>>58072620
i agree that the ethereum ecosystem and devs and future roadmap and use cases are much brighter and expansive than btc, i mostly hold eth, im just saying that btc failing it will look more like it withers away after a long while but i doubt this will happen till governments start using stablecoins on ethereum as evil nwo cbdc traced tracked programmable fiat money

[Anonymous No.58072684]

>>58072647
pow and pos doesnt matter unless ur actively mining or staking, to everyone else it doesnt matter really the method of security, both have downsides but i prefer pos cuz the libtards will argue about their madeup global warming shit

[Anonymous No.58072689]

>>58072670
yeah guess I'll agree with that
I have no idea how or when the bitcoin implosion will happen, but at some tipping point it becomes too obvious how much better eth is, and that's probably devastating for bitcoin

[Anonymous No.58072721]

>>58072539
I don't know how, it's just a hypothetical. I imagine it is entirely possible for any software to encounter a complete breakdown for one reason or another. Some kind of bug maybe? The actual reason for its failure is perhaps not as important for this discussion. I do appreciate that it's not at all likely to happen, though.

[Anonymous No.58072734]

>>58072689
i think once eth scaling is where it will flip, i think we are close to eth fully scaling. i think the scaling looks like what we have now but with more layers of systems that make it seamless to the common normie to use. right now you can bridge eth to many networks and do transactions and swaps for pennies, we didnt have this last bullrun or even last week, so the scaling is moving pretty fast now i think its not long before people are using ethereum without even realizing it

[Anonymous No.58072746]

>>58072633
Until another big mushroom grows up. Could that be Ethereum? Or something else? How do you see this go down exactly?

[Anonymous No.58072748]

>>58071542
Ethereum was written in Bitcoin programming language wasn't it? We'd need to start from scratch if BTC servers went down...

[Anonymous No.58072766]

>>58072684
kek

[Anonymous No.58072793]

>>58072748
>Bitcoin programming language

[Anonymous No.58072872]

>>58072656
>etc
Why? Everything genuinely important in crypto was so far solved by btc.
>>58072668
>>58072684
>mining methodology doesn't actually matter
The absolute state of /biz/
ALL POS networks are vulnerable by virtue of the fact their generation mechanism eliminated scarcity in supply. The only thing propping them up is the meaningless fiat that loses value every day of its existence.
>inb4 maxi
Not me, but I'm paying attention for when the next actual innovation is coming. It certainly isn't eth

[Anonymous No.58072887]

>>58072872
>their generation mechanism eliminated scarcity in supply
are u retarded, eth is deflationary cuz they burn a bit of eth every block

[Anonymous No.58072921]

>>58072748
This is now canonically the median technological understanding level of cryptocurrency participants.

[Anonymous No.58072934]

>>58071598
Pos is less secure than pow by some margin

[Anonymous No.58072945]

>>58072793
...you new?

[Anonymous No.58072971]

>>58071530

[Anonymous No.58072986]

>>58072971
https://www.dextools.io/app/en/solana/pair-explorer/5WVFjPkoDzqr95aWf4x6h1TLsFjtMUjhvDtzBUssEJYb?t=1710879099810

[Anonymous No.58072996]

>>58072945
I love it. Doubling down on dumb takes by having AI hallucinates favorable facts is peak <current year.>

[Anonymous No.58073017]

>>58072945

[Anonymous No.58073027]

>>58072872
>ALL POS networks are vulnerable by virtue of the fact their generation mechanism eliminated scarcity in supply.
https://ultrasound.money
I'll spoonfeed you further:
whether mining or validating, you need to issue new supply to pay for security
bitcoin naively tapers its issuance over time ultimately landing at zero in year 2100, the consequence being that every halving cuts its securty budget in half, unless fees can off sustainably offset the loss in new issuance (unlikely, since bitcoin is dogshit vaporware)
ethereum moved to a better model: constantly issue a minimal amount that ensures it's always secure, and offset the issuance by burning fees - in effect, ethereum's monetary policy is more ossified than bitcoin's, and ether is now also substantially more scarce

[Anonymous No.58073096]

>>58072572
>Nobody uses BTC for anything
>>58072573
>no one uses it, lol

apologize or your mother dies in her sleep tonight

[Anonymous No.58073117]

lol
lmao

[Anonymous No.58073123]

>>58072934
no lol. only the biggest pow network is ever secure. and pow centralizes by design, which means all pow networks only exist at the largesse of whoever controls the mining pools, and since pools collude, there is no democracy. it's a sham. if you care about decentralization you're getting the fuck away from bitcoin as a matter of survival

[Anonymous No.58073125]

roflcopter

[Anonymous No.58073128]

>>58072996
I would throw you an "UwU", but that's kinda <current year> - 2.

[Anonymous No.58073138]

hueheuheueheuheueheuheuehu

[Anonymous No.58073153]

jajajajjajajajaj

[Anonymous No.58073165]

keke

[Anonymous No.58073199]

wew lad
>NOBODY USES IT BRO IT'S JUST SPECULATION BRO TRUST ME JUST USE PAYPAL BRO JUST TRUST THE BANKS BRO NOBODY IS GOING TO PAY $3 FOR A A TRANSACTION YOU SHOULD PAY THE CREDIT CARD FEE YOU DON'T ACTUALLY SEE BECAUSE IT'S ALREADY PRICED INTO THE PRODUCT MAN AND DON'T WORRY ABOUT REVEALING THE PRIVATE KEY ON SPEND BRO JUST TRUST ME MAN USE THE FIAT SYSTEM BRO THE BANKS ARE TOTALLY NOT BEGGING FOR THE SLR TO BE ABOLISHED BECAUSE THEY'RE BANKRUPT WITH CRE AND 10Y TREASURY BAGS BRO JUST TRUST ME BRO

[Anonymous No.58073210]

your understanding of pow is stuck in 2010
your tiny world view and ego of look at me, i know finance and shit
blinds u to one if not the main feature of pow
energy transmitiom
einsofminer github io

[Anonymous No.58073247]

>>58073199
>noooo jpg mania is a real use case!!!!!!!!!
meds, now
there is no sustainable btc demand, why? because it's useless, slow, and expensive, and anything it can do has been done better for over 8 years by Ethereum
https://cryptofees.info/

[Anonymous No.58073416]

>>58073247
This is kinda my understanding too, but at the same time I think it's only so because /biz/ is an echo chamber where this has been suggested over and over and those who actually use crypto simply don't come here to advertise that fact every day. The pajeets and other scum getting their salary for advertising shitcoins on here on the other hand..

>>58073199
Thanks, it's always interesting seeing these unusual (to me) dashboards. I often get a bit surprised when encountering bits of information regarding actual users of BTC and XMR. The last time this happened was when I installed Bisq and learned about how it's basically a DAO running on Bitcoin - through the many years of browsing this site, I never once read about that being a thing.
How do you see things going down in the hypothetical scenario where BTC simply stops functioning? What would happen to the rest of the cryptos? The stock market?

[Anonymous No.58073445]

>>58073210

[Anonymous No.58073481]

>>58072633
>mushroom
I'm also wondering if this is essentially the reason why nearly all coins seem to strongly correlate to BTC price movements. I suppose my original question stems from the desire to try to explore the truth behind this. Do really most market participants assume that without BTC it all just breaks down? Everything crypto projects' success hinges on Bitcoin being successful?

[Anonymous No.58073570]

>>58073481
no, success hinges on burrning energy
u mongoloid nigger
everything else is your bulshit words and babdababdabdab
your niggerly life runs on oil and electricity
thats wat counts.
fuck back to the hole you crawled from

[Anonymous No.58073604]

>>58072887
>eth maxi
>calling others retarded
Wew lad
The inflation/deflation mechanism is moot after switching to POS. Its built on nothing, and can be pegged to nothing.
>>58073027
>if I call it sound money, it just is! OK?!
Your histrionic reply betrays the lack of confidence you have in this meme

For the record to both of you: I hold ETH as a speculative vehicle. We're a far cry from the genuine utility boom of whatever crypto turns into. Until then, absolute jokes like ether/solana/avax will continue to make money while we wait for serious entries into the space.

[Anonymous No.58073627]

>>58073481
I don't expect many participants account for much risk of Bitcoin suddenly disappearing from the landscape.
It's a boring coin for a reason. The devs on it are very conservative, and it's unlikely to technically fail. The main risk would be regulatory, but even then, any other altcoin is at more risk than Bitcoin (For example, the SEC's chairman has been on the record that he doesn't see Bitcoin as a security, while strongly implying essentially any other coin/token probably is.)
It doesn't hurt that the Bitcoin market value chart has been a consistent exponential uptrend, in sharp contrast with the vast majority of other coins that have widely more erratic long term trends.
So all of that makes Bitcoin the "known quantity", the safe thing that's expected to stick around regardless of what happens to other cryptos, other commodities, other currencies, etc.
It's de facto the benchmark against which other cryptos are judged (and often traded as well.)
With all that said, no, crypto wouldn't just fall apart if aliens dropped by, beamed all the bitcoin in their spaceships and flew away. I imagine it would just create a large vacuum, and make everything rather windy until a new king of the hill took its place.

[Anonymous No.58073664]

>>58073570
>>58073481
i misunderstood the question
jumped the gun
and was needlsly, rude and retarted
beg your pardon, nigger
>without BTC it all just breaks down?
yes
but can u please give such a scenario.
where do u imagine btc going ? what kind of talk is that? what if no more internets ? what if no electricity? can u image cpu disappearing somewher? where the fuck can btc go to ?

[Anonymous No.58073710]

>>58073627
wat a bunch of bollocks,
u better show more respect to the king.
u nigga be running your mouth as if the 00000000000000000... of the blocks aint be running more and more of your life lately

u got too computation burning camps:
ai - gonna burn those cycles to bind your soul
btc - gonna burn those cycles, caus fuck your climate change agenda

[Anonymous No.58073744]

>>58073627
nigga u stuck with the boomer gen
mah SEC
mah regulation

plsease bitch, get vaxxed and short squeeze gamestop

[Anonymous No.58073777]

>>58073664
>where the fuck can btc go to ?
I think it's entirely possible for some nation state or other entity to muster up enough compute to overpower all the miners or sabotage them and all the node operators in other ways (like a targeted precision cyber-attack), either by physically destroying them or turning them off or breaking their network connections. Once again, I'm not saying any of this is a likely thing to happen, only that it's a possibility - and if it does happen, what would likely to happen exactly.
I guess the exact method of BTC failing would greatly influence how the rest of the cryptos fare

[Anonymous No.58073910]

>>58073777
the same way they could engineer a virus and cause a global pandemic
or the same way they can destroy the world caus they got bombs that demolish whole cities

go watch marvel