A term from the early days of Bitcoin when every coin was either Bitcoin or a fork of Bitcoin. All the non-Bitcoin forks were called altcoins, short for alternative coins, so the world was divided into Bitcoin and alts. It is still used today, though is less relevant since there are many different coins with different consensus mechanisms and models that are very different to Bitcoin. NOTE: All altcoins are by definition considered scams and anyone who owns them scammers and idiots, according to Bitcoin maxis.
« Dictionary Menu