Are altcoins useless? - page 44. | Bitcointalksearch.org

sopanbmp

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Quote from: mosprognoz on February 12, 2019, 07:51:49 AM

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?

Useless? not really for me, in my opinon Altcoins are use to make fast profit of money like dump and pump, and it depens on the altcoins it self. the purpose of Many development on new coins or tokens are to beat bitcoin or in other word make it better and faster than blockchain #CMIW

akram143

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Underestimating the altcoin will be not a good way of developing the script of field because it also more important for a person to complete his cryptocurrency money making way not only Bitcoin will helpful for the development of Total blockchain system and there are some of the good altcoins are also been there next to the Bitcoin for the development of ourself and also this market.

killat

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Most of the altcoins are indeed useless and will remain useless till the end of their life.

But not all alts are the same. Ethereum proved its value overtime. Many existing and new projects are still built on eth, so it is not useless at all.

SinLinJim

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Quote from: mosprognoz on February 12, 2019, 07:51:49 AM

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?

Add a couple more coins and then you can close the topic and trade only on these coins. True, then other problems will be added in the form of a shortage of coins.

Colan Zolo

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The current situation is difficult for altcoins to grow, so waiting for bitcoin can increase, the altcoin will also be valuable.
The market makes altcoin useless so it requires better performance for the altcoins that appear.

johnleo

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I agree with in this current situation, most of them are useless. But imo a good developer shouldn't satisfied with their progress and they should try to follow their roadmap to make their alt-coin or token usefull. Remember they still hold some portion of coin and they should make a progress to make it's price worthy. Sad thing is there many bad developer too who already satisfied with their sales only.

Nwankwobtt

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Altcoins are not useless as there have their unique architectural design and features. Ethereum which is reponsible for dapp hosting and building and smart contracts too just like eos, neo, Tron, xlm etc and these are not useless

Darklinkz

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Useless for now because we haven't reached the real mainstream adoption. Just think of it as websites, and they are almost the same that sells the same stuff but their services can be different at all. And also there are countries that will only favor or patronized their local crypto in the future so not all of them are going to be useless.

traderethereum

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Quote from: Christinebeauty on February 13, 2019, 09:29:42 PM

Well, I don't think only these three coins are enough for the crypto community. They alone cannot solve all the problems in the crypto ecosystem. Although most of the altcoins are useless, there are still other few ones that are having real world usage.

Most, but not all altcoin are useless. We can use them to make more bitcoin by trading, and I am sure we can be able to search the right altcoin. As long as altcoin can help me a way to earn more bitcoin, I will use it day by day because that is my chance to make a profit from cryptocurrency. But I realize that most altcoins had difficulty to increase higher especially if bitcoin price is on the bear market. But the situation will change if bitcoin can increase for a small price and I am sure that the altcoin can increase too.

Vinnyjrt

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Altcoins in general are far from useless. There are some altcoin projects that are just silly and probably don’t have much of a future. There are, however, many altcoin projects that can potentially have real use cases in everyday life. You have to remember that cryptocurrency is still in its infancy. 25 years ago, the internet didn’t seem like it was going take off very well. Now its everywhere and used for more purposes than I could ever imagine. As crypto becomes more mainstream, there will be plenty of opportunities for real use cases for many altcoins.

bezzler

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If we are talking about the use ability of coins, then it is YES, many of the coins available today has no real usage for daily transaction. only several coins that already been used and implemented in several transaction.

949miner

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Not all altcoins are useless. Some are really as useful as Bitcoin. Majority of altcoins were been created or developed to be an improvement of Bitcoin and how its blockchain network worked but some are just a means to scam investors for their money. Just like physical fiats or currencies, altcoins are like the ones with low value compared to that of USD. Looking at the current state of the crypto market, altcoins are the crypto which are kinda pushing people to invest and making the market stable. Altcoins are not useless, you can make something if you invest well.

alonelyorange

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Many altcoin have lower price after listing at exchange market, its not giving opinion about all of altcoin is useless. Many altcoin before have success with higher price than ICO but today by bitcoin still at lower price make of all altcoin after listing always at lower price.

Christinebeauty

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Well, I don't think only these three coins are enough for the crypto community. They alone cannot solve all the problems in the crypto ecosystem. Although most of the altcoins are useless, there are still other few ones that are having real world usage.

IVEXO

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Quote from: mosprognoz on February 12, 2019, 07:51:49 AM

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?

Most altcoins are useless without no use case or reasonable products
Which is why alternate coins get delisted from exchanges almost daily

Most altcoins are abadoned project

bendernine

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I admit that there are only a few types of cryptocurrency that are really used for P2P payments and the rest are investment means and also means to trade
but I'm sure over time, cryptocurrency will actually be used as a currency in the real world, like most people's dreams, but it will take a long time because to do that crypto requires recognition by most governments

creeps

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Quote from: desticy on February 13, 2019, 08:53:43 AM

By and large, yes, most of them are useless. The vast majority of scam projects. They simply used their coin, which the project does not always need, to collect investments. And now they hang out in the market dead weight.

Too many altcoins are dying, because they have no room in this market and they are just a shitcoins. Top altcoins have more potential in cryptoworld, not just bitcoin and eth. XRP has partnered with many banks, XEM travelling around the world and other coins do the same thing so some altcoins are not useless.

Perfect35

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If an altcoin is following after the price of bitcoin, that does not mean it is not a good coin to invest in. Also, the dominance of bitcoin on coins has not stopped some altcoins from experiencing significant growth.
If the altcoin has a good use case, there is no reason why it should not attain a height, much farther from any form of dominance.

Nekoma2018

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Well as far as I'm consigned 95% of alts on cmc are completely useless... this is the reason I continue to discourage users about investing in ico... it makes zero sense to me...

claus-rich

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Most alternative coins are really worthless. The cryptocurrency market is now in serious condition, therefore such useless projects are quickly dying.

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