Advanced Altcoins Are Depending On Bitcoin Price Increase?
Testing Grounds For New Features
A lot of people would agree that altcoins have their place, especially from the testing/ trial and error point of view. But things seem to be different than before, when most altcoins were copy-paste with a few small changes. But now we are in the age of Advanced Altcoins and are witnessing a steady increase of new and interesting technologies coming out.
Altcoin Development Funding
These Altcoins are sometimes premined to some extent in order to obtain their initial funding. Once they have traded their premined coins, they will have Bitcoin in their wallets. They may or may not have enough funding for their projects at first, but for the ones that have held on to their Bitcoin have made a lot more than they would have if they originally cashed them out to USD.
I was watching a video on the Exodus wallet, which Daniel Castagnoli was interviewed in. Daniel said they raised the initial funds in Bitcoin and held on to them, at the time they were $600 dollars. I was thinking this must be why the wallet looks so flashy and user friendly. If you install this wallet you will notice that the design is just beautiful on the GUI.
Development Funding Value Increase
There are many other projects that held on to their Bitcoin and their funding value increased dramatically, which i believe really gave the projects that boost and extra value needed to create an amazing new and possibly more advanced system.
Here is the Daniel Castagnoli interview video by Boxmining
If you know of any other projects that held onto their Bitcoin fund, leave them in the comments