Topic: Altcoins. What and why are they worth "anything"? Something I thought about. (Read 269 times)

It seems more and more altcoins are being created lately. Solving for a b c d e f g h j k l m n o p q r s t u v w x y z a1 b1 c1 ETC. It seems like there are so many "things" being solved by the altcoins.

In reality not many get to the forefront of being "actually useful/used". The interesting part is not that there is a small success rate, it is that these coins are worth something.

I keep thinking about this. Why are any new altcoins worth "anything" at all? Why does anyone participate in yet another coin??? A lot of it is purely greed and profit, and the rest community the springs up around it.

We are funding these projects by buying/selling them though. Even if it is pumped and dumped multiple times a day it is still worth something. Even if the price starts at .01 of a BTC and crashes down to .0001 in weeks or month. We are funding these projects. Some are starting to gain traction and become worth more and more.

A project team who creates a coin just has to solve a problem enough people believe is worth solving and have enough people seek profit in it. The team premines the coins and sells some of it or pays their dev team. Think about it. The fact that BTC exists AT ALL gives altcoins potential for funding of a project.

I think that eventually more programmers will catch on to this and use altcoin funding for better and greater things in science and medicine. Many great problems may get solved simply because BTC exists and we assign a certain amount of BTC value to an alt coin. This doesn't exist anywhere else.


Hope that all makes sense, will probably had to make some edits.

What do you think?