Topic: Are altcoins useless? - page 12. (Read 21971 times)
I don't agree, altcoins in cryptocurrency do a lot of good, but most projects just don't work and clog the market
A few cryptocurrencies would be enough for all cases, but everyone wants to make money on this and produce 1000 altcoins per year. They are needed except for speculation on various stock exchanges, many play their courses.
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?
I frankly understand what you are driving to but it's rather a reckless generalisation from you considering that Neo, Ethereum, Stellar, icon, Ripple and so many more are altcoins.
Basically every altcoin aims to be able to solve the current problems. with the new concepts they offer. but indeed some projects fail to realize what they want. due to many factors. starting from lack of funding. problems with their platform and also the lack of support from the community
It depends on what is meant by the word “useful”, many coins from the top 100 do not do any good other than financial ones, and at the same time there are projects with a really high-quality product, but they are not in the top 100.
Unfortunately yes, most of the altcoins have no value for crypto community and they have been created for pure speculation around a beautiful story within the Whitepaper.
I wouldn't recommend you to invest more than 10% of your funds and other coins than Btc and Eth.
I now leave a lot of altcoin and focus on investing in the development of BNB and EOS. but I don't leave my bitcoin and ethereum. I realized that what I was doing was very risky, but I traded both of these assets and in fact brought benefits to me. I wouldn't recommend you to invest more than 10% of your funds and other coins than Btc and Eth.
Unfortunately yes, most of the altcoins have no value for crypto community and they have been created for pure speculation around a beautiful story within the Whitepaper.
I wouldn't recommend you to invest more than 10% of your funds and other coins than Btc and Eth.
I wouldn't recommend you to invest more than 10% of your funds and other coins than Btc and Eth.
Altcoins are numerous on the market and it shows how cryptocurrency and Blockchain technology are being utilized. Although there are some altcoins that are incapable of meeting expectations at the end of the day, some have real life usage with working products which are in high demand on the market. Coin like BNB has Binance exchange as its working product. Coin like MTC has its healthcare app - allows patients to access basic health care - as its working product. It is always good to perform a personal research in order to ascertain the altcoins with future.
Perhaps, to other crypto traders altcoins is useless only because they don't get any profit on it. If that is true, why they are still lot of traders continued buying altcoins? it means, buying coins need to make a research first before deciding to buy coins and We must also have a pattern to find out if it is legit or not, and if it is potential or not too.
Most altcoins are really useless and have no value. however, there are working projects that can show themselves well in perspective.
Yes right, this is what makes the market red and investors afraid to buy new coins, I am sure that the purpose of altcoins is made only to get profit, when they are already profitable then immediately sell all existing stocks and of course the altcoins become worthless.
It must be admitted that when there are too many altcoins that are useless, they don't have a clear vision and products so that only making altcoins as speculation to get profit, if holding for the long term will certainly be a scam.
I cannot entirely negate the essence and purpose of altcoins. But what has bothered me is that do we need hundreds of coins that are into existence right now in the market? And how long the process of issuing new coins goes? But on the other hand, most of the coins in the market will disappear over time when they cannot sustain in the market.
Most altcoins are really useless and have no value. however, there are working projects that can show themselves well in perspective.
I don't think that altcoins are useless. Even in this market without Bitcoin most of the coin is a altcoin. And with altcoin the new ideas come with it. I know for last few months the ICO market was not going well. In the market ICO creators scammed people very hard. Most of the icos were took people money and disappeared. Some of them are successful at ICO stage and then failed at development stage. So investors are kind of Afraid of the whole thing. But now the market is reborn again and many good projects becomes thhlrough ieos. So this fundraising market is very important for the whole crypto ecosystem.
No, there are a lot of altcoins that have a great usability not only in a cryptocurrency sphere, but also in a real business, for example, Ethereum foundation!
Exactly. We cannot generalize that all altcoins are useless, when in fact, there are some which are quite beneficial to the mainstream world. Ethereum, is a good example of this, when it can be used for the development and interaction of decentralized applications, as well as, tokens (either fungible or non-fungible for gaming). On the other hand, altcoins like Zcash and Monero can be used for privacy where hiding transactions for prying eyes is a must.
Of course, the winner here will still be Bitcoin for a long time. But, I believe that the altcoins mentioned have a good chance of surviving in the mainstream world for a few years from now. What really determines if an altcoin is useful or not, is if the same has mainstream adoption, and active development. As a crypto enthusiast, you should do your own research about specific cryptocurrencies in order to determine which one(s) is/are best for your everyday needs.
Nonetheless, the introduction of Bitcoin's Lightning Network may render many altcoins useless in the long term. Still, only a few will remain in the market as diversity is key for the success of Blockchain technology. Just my thoughts
There are a lot of coins on the market that are really good to invest in. And there is a group of coins that are really dermovy and they should not be on the market, they are just copies. We really need regulators that will clean this whole thing. But this is all in the future, as I understand it. Projects can really be found. I believe in this.
completely I don't think altcoin is useless. altcoin which has great potential and strong users will certainly get good results for investment. but if altcoin has absolutely no further price developments, it is one of the useless altcoins.
As for me, a very stupid question because there are useless altcoins and some useful altcoins, which are very useful for me, to draw useless for a very good profit, of course, it’s better not to work with them.
Not all altcoins are useless. Any cryptocurrency other bitcoin is an altcoin, so many altcoin exists such Ethereum, Grin, Dash and BAT all of these have their uses too.
Not everything the same as we know 5 fingers are not the same, so this way not talk altcoins are the same, some are surely not worth investing but some are actual future making coins that we should invest our money in, like bitcoin, ETH and ripple are the coin that has good potential and it makes good profit.
That is right that we get plenty of altcoin in crypto place instantly with plenty of vain service surrounded by them on the other hand still we yet get plenty many that has a extremely meaningful worthy production which presents delight at remain so I desire instruction everybody to appropriate cautiously whatever alts they wish to put in in earlier swing your method representing security cause.
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