If the value of bitcoin where to drop significantly to amost no value would altcoins be affected ?
i guess they would because usually we convert to BTC before cashing out into fiat but wanted other opinion.
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closed as primarily opinion-based by pebwindkraft, Chak, Alpha, alcio, Steven Roose Jan 12 '18 at 13:26
Many good questions generate some degree of opinion based on expert experience, but answers to this question will tend to be almost entirely based on opinions, rather than facts, references, or specific expertise. If this question can be reworded to fit the rules in the help center, please edit the question.
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Yes, for the reason you gave firstly (because most exchanges only have BTC/alt markets not alt/fiat markets), but also because Bitcoin is the first, most well known, and longest standing currency. If its value dropped to near 0, that would be a reflection of public loss of faith in cryptocurrencies in general, not just bitcoin, Bitcoin basically represents all cryptocurrencies to laypeople and its death would likely coincide with the death of all other currencies.
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what do you think about something like DENT coin. where you can use DENT coin to buy mobile data. How would bitcoin dropping affect that ? i see it continuing if bitcoin plunges. because i can still use a DENT coin to buy mobile data. what do you think @Bitcoin071474 and @MeshCollider? – j2emanue Jan 11 '18 at 3:50
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Yes all altcoins would be affected but does not mean they would all go to zero. You can alwaus convert to etherum and still sell it. Wont happen though. Maybe it will drop but most likely will contimue to bounce up and down.
