This is an outdated "debate", but I'll give my high level simplified view on "altcoins." First, "altcoins" isn't a meaningfully category. You have security tokens like INX (launched by self-proclaimed bitcoin maximalists) that aren't competing with bitcoin at all. https://twitter.com/AriDavidPaul/status/1359501481733468162

2/ You have NFTs, gaming tokens, tokens that represent ownership of some scarce digital asset like Filecoin, and then you have altcoins that are competing to be "money." These are all basically unrelated assets, and grouping them together mostly just obfuscates.

3/ Thousands of altcoins have been launched. Most are fundamentally worthless. Many are outright scams. There are also at least a hundred that are credible attempts at innovation, and at least a few dozen imo that do provide fundamental value.

4/ Bitcoin occupies a unique niche. It's not competing on features or technology. It's competing on longevity, stability, and brand. IMO - bitcoin won't get "outcompeted" as a settlement layer and SOV. If it fails, it will fail because it fails on its own (e.g. consensus).

5/ aside from NFTs, gaming, and securities, most other altcoins are competing on features and as technologies. That means (as with any tech startup) that most will eventually get outcompeted by newer more innovative technologies. Many may create real value for many years first.

6/ the only cryptocurrency I recommend as a 5+ year passive investment is bitcoin. In a relatively new asset class, I don't think I can predict which startups will win long-term. As an active investor, I'll certainly try to identify the long-term winners in real-time.

7/ but separate from the investment question - anyone can see there's huge real value being created on many platforms. Digital art and collectibles, defi, this stuff is real and valuable today. Other platforms may eventually supersede the current ones.

8/ as I constantly advise - there are many areas of investing and trading that can be profitable for professionals, but aren't worth dabbling in. I personally don't trade individual equities since I don't do it full time and think I'll underperform a passive index.

9/ BTC options aren't a scam - but I wouldn't recommend them unless you have professional options trading experience. Similarly, people shouldn't invest meaningful capital in altcoins that they haven't spent serious time evaluating (and for live networks, engaging with).

10/ with all this said - I'd wager heavily that BTC dominance falls by end of this bull cycle.