Topic: Are altcoins useless? - page 10. (Read 21982 times)
It depends on the usage. Most of altcoins from ICOs are utility token that is why you think it as useless. Take note that utility tokens is only valuable once there is a product from the ICO project. If you feel that it won't have a price just dump it somewhere like decentralized exchanges and I'm sure many will take advantage on it. The time will come that the altcoin you sell will have a value greater than you sell and you will surely regret it. Better let it rest on your wallet until the product will be release before you tell that it is a shitcoin.
There are some alt that are really useless. And these are belongs to shitcoins. But you can't say that all altcoins are useless too. BTC, ETH and a lot more alts like Dencoins proves that not all the alts from the cryptomarket are useless. Here upon joining to their project you can be benefited, and you can invest a good investment in the near future.
I can't defend all altcoins though but at least I know of a few that are truly solving real world challenges. When crypto is fully accepted and utilize by most people, that is when the actual use case of those coins would be noticed
not all altcoins are useless, and I think some coins from altcoin are quite useful for some people, or many people. well, for now there are so many coins that compete and have similar functions. when a coin grows rapidly, then other coins that have similar functions will become useless if they are not developed.
We buoy not add that altcoins are vain. Of line much a immense measure of what is represent in now 's marketplace is not essential. On the other hand this does not signify that each altcoins are vain. Thither are various captivating and favourable casts, much as Vocalise Cash Currency.
I can't defend all altcoins though but at least I know of a few that are truly solving real world challenges. When crypto is fully accepted and utilize by most people, that is when the actual use case of those coins would be noticed
Indeed, 90% of altcoins are useless. But no one says that everything. There are really good projects. Just need to spend a little time to find them.
Needs to spare time to find those who have some future to survive and become usable in the long process, there's some alts who also following the movements of bitcoin and creating its own name inside the crypto industry, needed to research and understand each potentials.
98% of the altocoin are useless and many are projects started and abounded by the team that created them. removed some "historical" altcoins that were born as an improvement of the Bitcoin (even if they didn't succeed) or that had particular uses, the rest is stuff for pumps and dumps and other speculations.
Now days we have more than 1 000 altcoins on the market. The question is, are people really using them? Frankly speaking only bitcoin, ethereum and monero are used for P2P payments. All others are used mainly for speculation purposes. Is it worth buying altcoins now days? I guess no, because all of them excluding tether are following bitcoin price chart. I mean if bitcoin is going up or down, altcoins are doing same. (Tether is connected to US dollar rate and used mainly for arbitrage trading purposes) So do we really need altcoins? Regarding platforms, only ethereum is mainly used, and mostly for creating ERC tokens. All others, like waves, neo, etc are used very rarely. Monero is used mosly for shady deals because it is untraceable. (I doubt about that, because one dude who opened a shop on a dark web for selling drugs was cached by police last week. For communication he used 3 level protected VPN and was accepting payments only in monero) https://www.wired.com/story/monero-privacy/ You can read about dark web here. https://www.techadvisor.co.uk/how-to/internet/dark-web-3593569/ days. The main question is: Do we really need altcoins? Or Bitcoin, Ethereum and Monero are enough for crypto comunity this days?
the mass of altcoins is really bad. it makes for outsiders an unmanageable picture and even if
you read regularly news and the forum it is not possible to stay up to date. there are also a few beads but the majority is unfortunately a rivet
The crypto market is still evolving and it is quite early to write of altcoins, the truth is that no one knows where this will eventually lead to, whether bitcoin will remain as relevant as it is or there will be alternatives to it which will eventually talk over and solve the whole necessary need for crypto
Was less expecting to see a topic like this. But this should be quite clear to the poster. Altcoins are not useless except that people made it seems so. If you say they are useless, then xrp,etc,ltc etc are all useless and I am sure that's not what you meant to say.
Lots of altcoins on the market and all of these altcoins are not used. Only certain altcoins are used actively on the market. Only altcoins are potential and can survive in a market that can last long on the market. Maybe only about the top 100 altcoins really have a good and useful future. Many altcoins are only on the market as garbage. Altcoin which is useless in this market is very difficult to compete with other potential coins and will only make the market more shit coin. I myself feel the real benefits of only a few coins. I have a lot of coins but it doesn't really have any real benefits
Indeed, 90% of altcoins are useless. But no one says that everything. There are really good projects. Just need to spend a little time to find them.
Most tokens aren't even needed and instead of solving a problem they actually create an extra one, becoming the middle man for services others provide.
Almost 99% of altcoins are useless and inferior to Bitcoin and they are created with sole reason to enrich the people behind it.
There are thousands of ICO's that provide nothing and are actually defrauding investors.
History suggests that 99% of alts are going down to 0.
Almost 99% of altcoins are useless and inferior to Bitcoin and they are created with sole reason to enrich the people behind it.
There are thousands of ICO's that provide nothing and are actually defrauding investors.
History suggests that 99% of alts are going down to 0.
Most of them without any usecase are useless.
But the Top 2 pages on CMC contain good Altcoins which are worth some attention
But the Top 2 pages on CMC contain good Altcoins which are worth some attention
So far there is no serious competition for bitcoin thought, also many people still consider any altcoins to bitcoin as some kind of different classification. The altcoins market capitalization itself always circulating around the altcoins same goes to bitcoin market capitalization so I guess that the competition is for altcoin only.
That's certainly true, mate. There's no altcoin in the market that can actually compete with Bitcoin. The only altcoin which seems to be close to Bitcoin in terms of development, popularity, and market cap ranking is Ethereum. The rest are outmatched by Bitcoin because they lack dedicated development, and most of all, mainstream adoption. Still though, some altcoins are great investments due to their highly supportive communities. As long as an specific cryptocurrency is being developed and supported by its community, then it'll be alive and running for quite a long time.
I believe that altcoins are useful when they provide features which are essential for everyday life. A good example of this is both Monero and Ethereum. The former can be used for privacy-centric transactions, while the other can be used for the development and/or interaction of smart contracts. While this is true, there are some altcoins that are useless due to the fact that they've been completely abandoned by their devs. In effect, this leaves many investors hodling that cryptocurrency with little to almost no value at all.
Therefore, it's best to thread carefully in crypto land as not all that glitters is gold. Just my opinion
I don't really think all altcoins are useless, although most have proven to be worthless in the long run. The truth is that most team members launch coins just to make money and abandon it, and then move to the next project. That's a big challenge to crypto , but there are few projects really developing their product. Let's take BAT for instance, BRAVE browser being the product is doing pretty well in terms of usability. Also, TRX for example can be used to pay for windscribe subscription through coinspayments. STEEM can be used on STEEMIT, just to mention a few.
Personally, I believe that the essence of all altcoins is to create competition, or the appearance of competition, for bitcoin.
Competition for Bitcoin comes from fiat payment processors such as Paypal, Visa and Master and not from these worthless shitcoins. Altcoins are basically like parasites and all they can do is to leech off market cap and user-base from Bitcoin. I am not denying that there are a few altcoins which can be considered as exceptions, such as Ethereum and Monero.
I believe that altcoins are flawlessly we need. The only thing that is important to talk about is that only those that are really productive and bring profit are needed, and those that are just copies and pull the money of those of course it would be better to exclude
Yhe main question is: Do we really need altcoins? Or Bitcoin, Ethereum and Monero are enough for crypto comunity this days?
In my own personal opinion yes we do really need altcoins but not as much as we already have now in the market. Actually as I use the blockfolio to keep track of my holdings, as soon as you input the ticker to make a list of you new token you will see there that it says on the top as you add the token 'search over 8000 coins', meaning there are too much cryptocurrency that are truly existing. I don't think we need that much coins and tokens. A hundreds kinds of cryptos will still be good enough I think but 8000 kinds is too much, most of them are useless shitcoins. 😐
Personally, I believe that the essence of all altcoins is to create competition, or the appearance of competition, for bitcoin.
So far there is no serious competition for bitcoin thought, also many people still consider any altcoins to bitcoin as some kind of different classification. The altcoins market capitalization itself always circulating around the altcoins same goes to bitcoin market capitalization so I guess that the competition is for altcoin only.the proof is that the value of Bitcoin greatly affects the altcoin value but not vice versa.
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