Topic: 40% of coins have no broad usage? (Read 437 times)

depends on the project also, if the project is not that great, the coin will be useless too, the reason why blockchain project that are L1 could have really big market cap because the coin actually utilized for something and it's to pay gas fee and so on, the demand produced because of that will always be there as long as the blockchain still produces block and there's still transaction in the blockchain.

different if the coin with a project behind it have no utility at all that could give worth to the coin, it will become a waste and can be categorized as coin that have no broad usage.
example is W (wormhole). good project enabling interoperability but their coin is wasted because the sole purpose for delegation of voting. now the price went down so bad.

literally went down so much from ATH

For the most part almost every coin on the market doesn't provide anything new or of value at this point. Bitcoin solved mostly everything when it was created.  15 years later amd Satoshis original foundation still holds strong.  It's a testament of how much they put into the thought process of everything that is needed or can happen to the protocol.  Lots of works has been done on it but yeah bitcoin does mostly everything that's needed.  Not saying in the future it will be the same but most of those coins are basically here to day trade for degens 

Yes, I agree, but he will have a better chance of making a profit from projects with a foundation than from projects without. And worst of all, it is impossible for him to guess the next meme coin, it may not even exist. Supporting this for me is madness and a waste of time and money.

exactly that, but to be fair, most of the project right now are motivated to do research and innovation so that they can deploy their own token and become millionaire out of it.
we know the market always overvalue most of the project so they just takes advantage of it.

so it should be the market itself that should be conscious enough not to overvalue a project with zero utility and usage.
unfortunately the market just like hypes and the money always flowing around the hypes, it's also the exact reason why meme coin valued so high in the first place.

utility don't really matter when hype is there.

Those coins that you mentioned looks solid in my opinion. So I don't understand why you say that tiny numbers are being used by people with this coins. You will have to look at the trading volumes and see for yourself that there are usage.

As for donations link by content creator, yeah, why not? I mean as I have said, they have use case and so it could be one of the cases, as means of payment. So you might have a wrong perception of those top 10 coins and you can used it whatever you want, store of value, means to accept payment and others. Definitely there could be element of speculation as most of the coins are even Bitcoin.

This should be something that could make a ton of money without a lot of trouble, we can't really assume that it is going to be at all easily handled. So we can't really consider how this could work, that could be the most important part of the investment one could make. That can't really change any further without a doubt, so that could be very troublesome if we are not careful with what we have.

So all in all it is going to cause a lot of benefit for people who stay away from centralized projects that doesn't do much community caring, because they are doing it all for their own versions. This is why I believe that we can't make see it changing and we need to consider this to be profitable if we keep on thinking that it is going to reach to a big place without a doubt. I do believe that it can't be considered any different if it's decentralized but weak coded, because those could be hacked into as well and we saw a lot of examples of that too.

Of course, coins have their own governance to determine the number of crypto assets in circulation, more centralized where there is someone who controls governance, there are so many requests for these coins that are considered to be profitable, but all of that requires demand for one crypto asset to soar if many supporters use it, along with the use of many coins causing an increase in price, depending on the project being run to measure all of that.

Actually there's no assurance on making profits with investing into certain projects no matter how good looking it would be but as part of making up some research then you could really be able to
point out at least on which project would really be something that would really be worth of your money. Although every step that you would really be that making will really be definitely be still that speculative on which we know that assurance on making profits isnt there. It would really still that a matter of demand and recognition for a project to have that kind of success. This is why its important that you should really be making your own research and trying out to make an in depth one because if you do just make decisions without having that backed up with good research then the risks is
high on losing money on the time that you do deal up with shit projects.

That's why it's so important to invest in projects that have something behind them, that way you can make even more profit. You can get involved in a project that's just speculative, but the chances of it being successful are very low, unlike coins with projects behind them. So, always look for this to increase your profits.

I’d argue that more than 40% of coins have zero real world utility, they are just a speculative way to try & get more fiat or more Bitcoin/Ethereum. You’re never going to be able to buy a Spot $MOTHER ETF. It doesn’t mean you can’t make serious money with these coins, just get in & get out with profit.

I believe, on your own part it may be right. But I think there is something wrong with your comment. But it is good for you to know that the top ranking coins in the market work with the biggest organizations. And all these coins do not require any analyses. But if you want to see its details then you can do it at your own risk. I think, if you are in 500+ ranking, you will definitely need analyzes if you are a trader. However, the coins you mentioned are the most used.

Why? I don't think @OP was wrong to mention these coins, BNB is one of shitcoin that listed on top 10, it has no use case. It just a copycat of ETH, the coin is used to encourage people to use Binance, while the chain isn't 100% secure and no use case too. If people said BSC help many project, well Binance Smart Chain and Binance Chain are two different chain, don't mix it.

Exactly, BNB is mostly used for projects, TON is following the same path and any other coin can replace XRP, it is just a disguised coin. It makes no sense to ask for these coins as a donation in your content creation, as they are not commonly used for that.

Those coins mentioned wont really be sitting on top of the market if they werent have their good use cases on which it really that definitely true about BNB and SOL on which these two are really that having
that competition on trying to take up that higher spot on which we've seen this thing recently. It cant really be just that denied that these things are both having that good potential but since they are already
sitting on top #10 then i would say that its really that their end game. 40% is really just that too low if we do speak about into this topic in terms of use case or its utility on which i do see even more higher and only
10% of them are really just that actually having that relevant feature on which human kind would really be able to make use of it and the rest on which it turns out to be that useless and just copy cats.

The good thing about these copycats is that if you do really tend to take risks on investing into these tokens/coins is that on the moment that it will really be making up some moonshot then
you would really be definitely having that chance on making yourself that getting rich and this is the primary thing on why there's so much demand when it comes to these coins
including meme coins or with those low caps. People wouldnt really be minding much about the risks involved into it.

You mentioned top 10 ranking coins BNB,SOLANA,XRP and TON coin, And asked what's the use cases of those project? Without any real use cases those are ranked in the top crypto?
It seems your lack of knowledge about these coins. I have experienced to use these coins in my real life such as i bought a lot of things of using these coins, Still sometimes i need use them in my daily life. And those have own smartchain, and huge of use cases and real products from long time.

I guess you need to do your homework right. BNB is being used on it's smartchain.
It also covers transaction fees on the exchange and also facilitate payments.
Solana also has a whole lot of usecases and both of these have their ecosystems and can also be used for staking.
Toncoin is relatively new but is starting to have it's own ecosystem too and receiving a decent response from the crypto community.

Investing in a coin by a direct purchase of the coin IS speculation, unless it is done based on specific usage statistics that have it undervalued relative to other coins, which generally center on actual usage in broad retail transactions. It would be like investing in stock without the specific plan to cash out on dividends. Almost anything other than cashing out dividends is a form of speculative investment in stocks. With a cryptocurrency, there are even fewer options that are not speculation.

When you want to "move" money around, or just pay for something, USDT made that quite easy, usually used with TRC20 chain as well, that meant that USDT is good for just transactions and payments all of which means that we may not see other coins for payments or donations.

If you have donation link, and you offer USDT with TRC20 chain, then you are going to get mostly that, it is something that people do enjoy and that's about it, nothing more is needed at that point and I believe that we are going to see that go up as much as possible.

Obviously this isn't a thing that's written somewhere like a rule, I could be wrong and things could change, in a month maybe BNB becomes the most used one, who knows how it will work out. But at the current moment people prefer USDT for moving things around or payments, that makes it a lot easier because it is both cheap, but it is also exact amount, doesn't change in the future, and you know what you sent with that kind of payment.

I think the op fails to understand some stuff, and his argument is centered on his experience but not knowing that there are more to what he already about thos coins, if the usage of those coin have such limitations as he mentioned u think it would have been difficult for those coin to go this far, just as you mentioned that you used BNB to pay for your internet connections,some persons use it to pay for transactions fees and so on, although am happy that they op brought this here and I believe he can learn from multiple functions and purpose of this coins,/tokens respectively, this have just shown that no matter how detailed you think you have learned in any system, where you stop is where others started, I think the op would have done a detailed research before saying that few persons or institutions accept the coins/ tokens that he listed, the functions of the listed coins are not limited it only depends on what we actually want.

Exactly, those coins mentioned by the OP has their own use case, and the fact that they're not generally used as compared to Bitcoin doesn't mean they're left behind, those coins have blockchains of their own and projects that building on those blockchains use the said coins daily for Tx fees so I don't think they're left out given their market cap and the number of people that use them daily as Tx fees. For instance Ton is the newly added Blockchain amongst others mentioned and it's trending currently due to it's connection with the social media platform (Telegram) and I'm aware that most mining projects and Airdrops require Ton as fees to claim there rewards and so far the number of participants in those projects is massive and you could imagine the amount of Tx that would be used daily by different participants to claim rewards.