A lot of altcoins are useless, but there're plenty of good ones that have an actual purpose, but we don't need as many tokens. Ethereum is one of them.
I quit agree with you as regards ethereum and some few others like, EOS , Elasto, Ontology of which I know,but there are so many shitcoins out that are worthless, because the original project idea and team could not be delivered it.
Topic: Are altcoins useless? - page 30. (Read 21971 times)
I quit agree with you as regards ethereum and some few others like, EOS , Elasto, Ontology of which I know,but there are so many shitcoins out that are worthless, because the original project idea and team could not be delivered it.
I do not think so, because some altcoins have a real usability in a real world. For example, ethereum is the most useful crypto.
It can be said that more than 90% of altcoins are useless, I don't think we need thousands of altcoins, maybe the ideal number is a maximum of 200, too many altcoins, making everything unclear and difficult.
Casual projects have no purpose in the real economy and without any bringing value, it is impossible to reach high levels. Many altcoins are created to make their owners rich and they are successful, unfortunately.
not all types of projects are what you say. because until now there are still so many promising projects. so we don't have to think that all the projects will not be successful at the end of the period. because this hasn't happened yet, we have to think positively.It can be said that 90% of altcoins are useless, too many coins are certainly confusing and this is what is used for scam, crypto is too free and easy so we must immediately make strict regulations.
In my opinion these numbers are even above 90%. Altcoins are not just in coinmarketcap, if you search only the altcoins that depend on wave, you will find more unnecessary ones. On the other hand, when the time comes, unnecessary ones will be ruined. Just try to find more useful ones. 
I do not think so. Look for example on Tron or EOS dapps. They are pretty popular, look at the daily volume, it is o big, so it shows that people are really using it.
Many altcoins are really useless on the market, but the upper alcoins have always been necessary and have some sense of existence.
This is the fact that most can't accept and if they found out that the altcoins that are being called as useless are part of their portfolio. Let's take that fact and accept that most altcoins are really useless after the ICO or after being listed on exchanges.
ONE best reason why altcoins are not useless!
1. IT MAKES the movement of BITCOIN in the exchange/market great.
that is the best that alts contribute in this community. in making movement for btc.
1. IT MAKES the movement of BITCOIN in the exchange/market great.
that is the best that alts contribute in this community. in making movement for btc.
The usefulness of altcoins depends on their utility. Most altcoins in the markets have no real utility. As far as I'm concerned, any altcoin that has no utility is useless. Restrain from investing in a project with no launched products/services to warrant token utility. Check coinmarketcap and you will see that even though all tokens crashed in prices, those tokens that didn't have real utility when the market was booming where the ones that suffered the blow the most ( with some going even to zero). As warren buffet said, "It's only when the tides go down that you will know who has been swimming naked". While the market was booming, many useless altcoins where hiding under its shelter. when the markets crashed, speculators drop altcoins with no utility and stuck to those with utility.
So, not altcoins are useless, but those without ready-utility, definitely are. So, here is my advice to any hodler; No matter the amount of the future utility or tokens that a company offers, in as much as that utility is not there yet, don't hodl that altcoin. Hype might take useless tokens up at first. but trust me, they will eventually have nowhere to go but down.
So, not altcoins are useless, but those without ready-utility, definitely are. So, here is my advice to any hodler; No matter the amount of the future utility or tokens that a company offers, in as much as that utility is not there yet, don't hodl that altcoin. Hype might take useless tokens up at first. but trust me, they will eventually have nowhere to go but down.
Many projects today have no sense in use, they are simply not developed and are not used by anyone at all, I think that they are probably just forgotten and will not be used anymore. Therefore, I think it is very strange, no matter how it was there.
Coins of such projects fall into the trap of the market, developers no longer need them, but investors do not know what to do with them now, because the price has clearly fallen below the purchase price.
clearly most of the altcoins created were for the benefit of devs pocket. and if we are talking the legit ones with real purpose, they are only few of them.
but if those projects will exploit the power of blockchain technology, they can achieve things that we never envision of in our lifetime... but of course, the greed for money is always in play. thats why most projects failed and altcoins become useless!
Many projects today have no sense in use, they are simply not developed and are not used by anyone at all, I think that they are probably just forgotten and will not be used anymore. Therefore, I think it is very strange, no matter how it was there.
Coins of such projects fall into the trap of the market, developers no longer need them, but investors do not know what to do with them now, because the price has clearly fallen below the purchase price.
Casual projects have no purpose in the real economy and without any bringing value, it is impossible to reach high levels. Many altcoins are created to make their owners rich and they are successful, unfortunately.
Anything is changing very fast, so most projects - even good - are already old when they start.
It can be said that 90% of altcoins are useless, too many coins are certainly confusing and this is what is used for scam, crypto is too free and easy so we must immediately make strict regulations.
actually not confusing if they are clear and not altcoin coin bins. too much altcoin because many industries and businesses that exist in the world that begins with blockchain and crypto. We can't blame this. they created their own crypto platform for development. 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?
Coming to the supermarket, we have bonus cards on which points lie, thanks to them we get discounts. Bonuses are the local currency that is valid in the store, and the main payment is in national currency. Altcoins act in the same way, they create their own world in which they sell their services, goods using coins (tokens). There are interesting projects that will show themselves from the good side in the future and will bypass monero, btc, ethereum.
A lot of the coins and tokens created in the crypto world are completly useless and will not success but there are many great alt coins that can end up doing well in this market.
It can be said that 90% of altcoins are useless, too many coins are certainly confusing and this is what is used for scam, crypto is too free and easy so we must immediately make strict regulations.
If you worry about the hundreds of thousands of coin that exist and will exist then please don't. These projects are still like in the incubation stage and they are the future tech industry that will top off giant companies someday. And when that time comes, we will witness the competition on these altcoins like it's 'may the best man win' but instead it's the project and not the man.
Most people buy cryptocurrencies not to use it, but to earn money on it, so altcoins are not spread widely at the moment. Maybe the situations will be changed in the future.
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