Topic: Are altcoins useless? - page 18. (Read 21971 times)
For me, it's enough that we only have 20 cryptocurrencies, but since it's an open source and people can build their own token for their products and services, we will see many more new tokens coming in the market, it's not the coin it's the company or the developers that build them and it's up to us if we want to support these new coins.
a lot of alt is just a simple repetition. they duplicate the code for Bitcoin. they bring many new people to the world of encryption. they are good for the market. but, i like to have truly innovative coins. they will drive the development of encryption.
Exactly. That's the cold-hard truth. Most of the altcoins are simply useless because they're only created as a mechanism to make developers rich, instead of being indispensable for the world. With no active development or innovation at all, most altcoins end up being completely abandoned or remain as a speculative cryptocurrency on the market. One good example of this, is Dogecoin which is practically useless considering how many altcoins there are on the market with cheaper fees and faster transactions than it.
Which is why, that only a few select altcoins with active development and innovation can be considered useful. My recommendation is that you go for Ethereum, Cardano, and EOS as they're highly active smart contract platforms in the crypto space. Considering how many dApps have been launched lately on said platforms, the underlying cryptocurrency used as "fuel" for the execution of smart contracts will have real utility instead of speculation.
Nonetheless, there are many altcoins which come and go. But you should do your own research in order to help determine which altcoin is useful for your daily needs. Just my opinion
It is hard to add representing each the schemes that are presently on the marketplace. On the other hand I anticipate that thither are so various lucks to yet get valid possibilities to judge and approach to the closing that various juts are just dreaded and vain.
Indeed, there are quite a lot of bitcoins that are not in line with bitcoin in terms of price changes, sometimes bitcoin rises drastically and altcoin doesn't have significant changes, but we also need altcoins even though bitcoin already has more enthusiasts than altcoins, why do we need altcoin people like changing bitcoin and if we have small capital, it is better to choose altcoin to trade
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?
From my own point of view, it is not altcoin that are useless, although majority of them are just being used to raise money during ICO. What happen to the coin on the exchange afterwards is none of the team's concern and that is why a lot of them are worthless. I don't think we need a lot of altcoins. Most of them are very useless. I believe that they will gradually die and there will be only the most necessary.
yes indeed we don't need a lot of altcoins, but this is a world of competition where coin coins will compete to be the best and most popular. only those who are weak will be eliminated and the strong will survive.
For now some altcoins are useless i think it because of no value in the exchange and some of them are not worth to sell. But they have some altcoins also are have some good potential if they are listed in the nice exchange like binance or kucoin and the other better exchange.
I respect your opinion about Altcoin, come back to the real world. coinmarketcap.com shows data that the crypto capitalization of the currency other than Bitcoin is around $ 108B this is from 2180 different types of Altcoin, The altcoin has helped the economy of many people and I will continue to say that Altcoin is very useful.
I don't think we need a lot of altcoins. Most of them are very useless. I believe that they will gradually die and there will be only the most necessary.
To say that altcoins are completely useless is wrong. Altcoins have the right to life, and many of them bear the benefits of the cryptorink and its inhabitants.
At the start of the growth of the crypto market, altcoins, as a rule, do not have time to grow in price for Bitcoin and they always become cheaper relative to it. Than you can use and buy them cheaper at a time when Bitcoin has risen in price.
At the start of the growth of the crypto market, altcoins, as a rule, do not have time to grow in price for Bitcoin and they always become cheaper relative to it. Than you can use and buy them cheaper at a time when Bitcoin has risen in price.
If proper screening is done for all alternative cryptocurrency just few will pass because few have real world use case, i think majority of altcoins have whitepaper use case only.
Altcoin has no value will be eliminated by the market over time. Garbage projects born in 2017 and 2018 are slowly dying because there is no volume, then they are removed from exchange by delist. There are potential projects that have completed their work well so that everyone in the future can use it
Well to me I would say that not all altcoins are obsolete, as a matter of fact many of them on CMC are beginning to show some green as for this market trend.
as the marketplace is not great, various add that altcoin is vain and vise versa when the marketplace is in great shape, various approval the altcoin as it buoy be bankable. I anticipate altcoin is yet worthy, all the more I adorned my cash in various altcoins much as eth, eos and Neo. altcoin is worthy as the cost is low-cost.
I need to disagree with you. This market is full of promising altcoins. I believe that many of them would grow a lot in the near future. If you are looking for rapidly developing ones I would recommend FuroCoin and Dash.
not all but there are many useless altcoins. what i noticed is that a lot of project are offering to do same thing which has opened up opportunity for different new projects to copy old project. it takes huge time for project development this is part of what is slowing down adoption. only few of this altcoins are good and unique.
If proper screening is done for all alternative cryptocurrency just few will pass because few have real world use case, i think majority of altcoins have whitepaper use case only.
Through open source, Altcoin comes out and various ideas are included, so it is an open source
I don't blame it for duplicating.
I believe that you need to deal with and experience cryptography for your applications.
There are a number of problems that can be caused by the indiscriminate overflow of Altcoins. But I think it's natural, and it's natural to be in harmony with each other.
I think open source is the evolution of nature similar.
There's a bitcoin that you see from the top.
I don't blame it for duplicating.
I believe that you need to deal with and experience cryptography for your applications.
There are a number of problems that can be caused by the indiscriminate overflow of Altcoins. But I think it's natural, and it's natural to be in harmony with each other.
I think open source is the evolution of nature similar.
There's a bitcoin that you see from the top.
a lot of alt is just a simple repetition. they duplicate the code for Bitcoin. they bring many new people to the world of encryption. they are good for the market. but, i like to have truly innovative coins. they will drive the development of encryption.
In this market it doesn't matter if one will copy or duplicate the market, what's important is who will win in the competition.
We don't complain when there's more project with similar platform because with great competition, they will serve us better.
So, I believe they are not worthless if they are serious with their vision to contribute in the growth of the market.
Every currency get its have marketplace hat and trading on dissimilar transforms which is ascent the amount with big up and downs day-by-day. And each the altcoins are handsome various utility and propose to the crypto planet representing existent in the marketplace. So we buoy not neglect the altcoins and altcoins is dominant role of crypto, just one bitcoin buoy not amble the crypto planet.
a lot of alt is just a simple repetition. they duplicate the code for Bitcoin.
yes they do .that is the reason why they call altcoins because they are only alternative for bitcoin use but did you know that altcoins are verry useful ? they are cheap and we can afford lots of them if our goal is for investment of for trading .
that simply means we can earn tons of cash when thier value pump not unlike to bitcoins where you can only buy some due to its expensive value . there is still lots of reasons on why alts are important .
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