Topic: Altcoins are becoming a joke...... Anyone Agree? - page 2. (Read 2294 times)

Not a joke. But a way to earn bitcoon for somebody.
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This isn't necessary true. Some coins with real development, and with some really innovative features can be far below 1 million daily volume, but in the future these coins can grow fast or can be the basis of future technologies (like Ethereum and IBMs IoT proposal), so I wouldn't call these coins a joke.
But you are right about the rest (copypaste crapcoins).

Like so many other go-to metaphors....

Alts are also strikingly like gold-exploration penny stocks. Do you know what the odds are for a promising gold-exploration project to become a profitable mine? About 1 in 300. No joke.

So, you could say that 99+% of gold-exploration pennies aren't real. That's a lot like the odds for alts: 99+% of alts will never become transactional currencies or platform currencies.

Odd how the two completely different sectors cohere. It's at least apparently a general feature of markets for assets which only have speculative value. Asset markets like that are similar to hash functions: it's easy to see why Asset XYZ is like an Asset that prove to have real real-word value. But it's all-but-impossibly hard to see if Asset XYZ itself will have real real-word value in the future.

That's because the future as a whole, much as we like to kid ourselves, is unpredictable. The best we can do is rely upon regularities that are predictable, like "the sun will rise in the east tomorrow," close-to-predictable, like "that dropped object will fall at 9.81 metres per second squared unless it fall is slowed by air resistance," or fall under a common class with rough-but-ready odds attached to each outcome.

So in a sense, the hype & excitement surrounding asset markets with truly longshot odds are a testament to how much we humans live on hope. To take the bright side of the phenomenon...

If we just use analogies, comparisons to discuss some FEATURES we can use ANY analogy which can help to understand us.
We can say that cryptocurrencies are trees. They have some similar features.

But if we consider that A=B when A=1 and B=2 and C=2, we can be completely wrong later, thinking that A=C.

For example, "the long cold winter of the far north is unsuitable for plant growth and trees must grow rapidly in the short summer season when the temperature rises and the days are long".
If we think that cryptocurrencies are like trees, we will expect that they cannot be implemented into market when it is very cold, and that they will rise when it is summer or spring.

Nope. I've seen a newspaper have listed out a list of altcoins, including LTC, DVC, NMC etc. when featuring bitcoin. Some of the old altcoins are known by non-crypto-er, however the new ones really not.

1 and 6 are irrelevant. 3 is plain wrong (public ledger?) 7 is narrow minded; the currency itself provides a service to all users. I would argue that burnt fees represent something similar to profits/dividends.

edit: I'm not saying they're exactly alike, but they are a good analogy

Yes, that' right. Too many altcoins in the market   Without doubt Dogecoins and LTC are most popular crypto  

That is true for Ripple maybe.

But classic cryptocurrency 1) is not incorporated 2) has no debts 3) has no accounting 4) has no assets 5) has no real profits or dividends
6) cannot be bankrupted 7) doesn't produce any product.
You usually cannot buy goods or services for stocks, etc. etc. etc.

Why should we use "stocks" analogy instead of just calling it "currencies" which they really are.
Let's call a spade a spade. 

A cryptocurrency can be thought of like a company; it has shares (the currency), profit (fees burnt), employees (miners), users (us).

Wow! I had no idea this ever existed. I'm going to try this out. Thanks! 

Yes, the best and wrong. If cryptoCURRENCIES are stocks, what are cryptoSTOCKS then?
Cryptostocks.com or NXT Asset Exchange are places where anyone who owns a computer can buy "stocks".
Currencies have different features.

Really? That is probably the best parallel we have; 'stocks' accessible to anyone who owns a computer.

Definitely true, I have been in the altcoin/Bitcoin world for a long time. March 2014 was a big boom for altcoins, when pump and dumps were at their height. Even that was a joke despite the altcoin game being profitable. Of course I have invested in altcoins and I did well, but it was mostly luck, and truly understanding how to capitalize on scammers and silly twitter accounts haha.

All in all, BTC is a wise investment imo, in addition to your existing portfolio such as stocks, or real estate perhaps.

At the end of the day, if EVERYONE was 100% in BTC, the market cap of BTC would increase and this would results in pushing us farther than we are. We need to all be on the same team, and that team is BTC...not CANN or something XD

P.S. - Altcoins are fun to fool in sometimes, but ultimately its best if we are all in BTC.

I think that the most promising alt coins are: NXT, LTC, XMR and BTS. The rest of the alt coins are just not worth it. Just my opinion 

NXT, NEM and XCP aren't the jokes here, it's the constant stream of pre-mined coins coming out of the announcements board.

Well, NXP and XCP aren't, anyway, never heard of NEM before.

I agree, good summary.


DR. ALBAN LYRICS

 Enemy's gathering rumours ignorant spread
 Fools accept them without confirmation
 Hey, you'd better surrender

 Stop spreading these rumours, oh
 Enemy's gathering rumours, oh yeah

 Enemies are gathering rumour ignorant spread
 Enemies are gathering rumour ignorant spread
 Fools take it and accept it.
 Fools take it and accept it.

 Enemy's gathering rumours ignorant spread
 Fools accept them without confirmation
 Hey, you'd better surrender

the only reason for this thread is you feeling threatened

First of all it's not becoming a joke...may be cryptocurrency is becoming a joke since every scammer is coming up with their own scam but the "idea" behind it is not becoming a joke. Government, Bank, Companies have found a great way to take advantage of blockchain and they're using it for their benefits.

Overall it has been very succesful idea and I'm sure Satoshi is very proud of it.

There are real people who're using blockchain, crypto for their day to day need and I think that's what satoshi was trying to accomplish...he never cared about the price of it only investors care so much about price.

You should understand that investments need time to grow. If a VC invests 100 million into bitcoin, that doesn't mean it becomes worth more overnight.. Infrastructure has to be build before you see the result. The same goes for altcoins.

Coins like NXT, NEM and XCP are going to be interesting.