Are altcoins useless? - page 7. | Bitcointalksearch.org

Abiky

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Quote from: Makkara on June 06, 2019, 11:56:30 AM

All those that are presenting themself as a revolution in any kind of field they are in the end useless. There are few exceptions, just look at the top 5 coins in coinmarketcap Cool

Exactly. Most altcoins are extremely overhyped by their developers. Their main claim is that their cryptocurrency is a lot faster and much more scalable than others (when theoretically it's not). Once people realize that such cryptocurrency is just like others, they head back to the most prominent altcoins on the market. Usually, the intent of most developers is to generate hype in order to pump their cryptocurrency massively across the market. But when the time comes to determine its reliability, and usability, it fails altogether.

That's why, I believe that only a select few altcoins will survive in the long term. Useful ones are not based on hype, but rather real innovation and development. Ethereum, NEM, Cardano, and Monero fit the bill nicely. The top 5 cryptocurrencies in market cap will do, but there are a few out of this range which are quite worth the investment nowadays. You just have to do your own research to determine how useful an specific crypto is.

Nonetheless, time will tell us what will happen with most cryptocurrencies' adoption in the mainstream world. Just my thoughts Grin

baiwei

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This era of cryptocurrency i must say yes because i dont see any altcoins that grows over this year and always dumped after listingin exchangers and now there are ao much shitcoins that many projects offers and i consider it as a scam because investors cant really make profits in this.

GabbieBoy12

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Through this case about is altcoins are useless? If we are in a trouble of thinking if this is going be useless we must do some research based on how it is going to benefit us because if it is so this would be an annoying allegation. So with this, altcoins was not a useless coin because it is performing well. So if we are gonna say that every investment is not valuable it was probably a nonsense statement because altcoins save investment for the future,like Dencoin tokens.

Classica35

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A typical example of a good altcoin would have a strong use case, strong enough to ensure continuity.
The unfortunate part of it is that, it is hard to find an altcoin that will be useful in the actual sense of it.
The problem some of them have is that, it might be quite hard to find those who will use them, that is, those that will adopt thr!m.

RockDJ

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No they are not in any way useless rather any altcoin not offering any tangible results or product can be classified as being useless. Altcoins were created to add more to the crypto space as well as in the world, that is to say each altcoin have a specific reason it was created for and by achieving that adds more growth to this space.

Innocant

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Actually we can choose some altcoins also in the market that have some potential to increase the price in the future but for now we encounter so many altcoins that are useless to sell or not really listed in the market maybe some of them in stock to erc20. Just like in this year ill have some different coins in my wallet that are no value at all.

Marry Finch

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Altcoins, in fact, the whole cryptocurrency with the exception of Bitcoin. How can you say that they are all useless? A small part of them, of course fraudulent and useless, but the rest, their much more, make their own contribution to the development of cryptocurrency. In addition, many coins, and especially tokens, continue to develop and the result of their development can sometimes appear only after years. Therefore, we do not need to hurry with bad conclusions regarding altcoins.

kanmo

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Not all altcoins are useless because some of them have been able to contribute immensely to the world problem. Its just that a lot of them are garbage and they don't have anything to offer. In a nutshell, one can say that the ones that doesn't have anything to offer are the useless ones.

Chicky213

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Altcoins are not useless cause there are so many altcoins doing great. Though there are so many altcoins without use case which will become worthless in due time.

gwdf1

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There are more than 2200 altcoins (according to CoinMarketCap), and if people continue to invest in them, altcoins do not seem to be useless. At least, thousands of people manage to earn on their price difference.

prof7bit

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Quote from: bristlefront on June 07, 2019, 12:47:53 PM

They are useless if the team doesn't make any progress after receiving funds from ICO. So what is the point if the coin offering is a success if the next thing to do is nothing. That is why most altcoins became shitcoins. Sometimes ICOs are deceiving, they look legit but once the ICO ends it becomes a scam one that could lead also to shitcoins. It is really hard finding an ICO that has integrity. 2018 is the worst and maybe 2019 could surpass it since there are still many shit projects that could still fool many people.

I agree, of course, the team should show great interest in the development of the project and stimulate the promotion of the token.

Piston Honda

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90% of them are, YES.
easy answer.

bristlefront

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They are useless if the team doesn't make any progress after receiving funds from ICO. So what is the point if the coin offering is a success if the next thing to do is nothing. That is why most altcoins became shitcoins. Sometimes ICOs are deceiving, they look legit but once the ICO ends it becomes a scam one that could lead also to shitcoins. It is really hard finding an ICO that has integrity. 2018 is the worst and maybe 2019 could surpass it since there are still many shit projects that could still fool many people.

Dr.Osh

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Quote from: meleonk on June 07, 2019, 11:51:32 AM

To my regret, most altcoins are really useless. And the worst thing is that they followed Bitcoin before. I mean, where the bitcoin went there and they followed it. Therefore, they grew up with him. But now everything is even worse. Bitcoin is growing and they aren't growing in price. This is very bad for the market.

I don't think that's true. maybe the altcoin price is sometimes so low, and continues to decline. but, altcoin will be useful when you need it. it's just that, people don't need that. so, only a few altcoins are really useful for us, and our needs. it all depends on someone's needs.

meleonk

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To my regret, most altcoins are really useless. And the worst thing is that they followed Bitcoin before. I mean, where the bitcoin went there and they followed it. Therefore, they grew up with him. But now everything is even worse. Bitcoin is growing and they aren't growing in price. This is very bad for the market.

xephireusMMX

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Of course, there are about 8,000 altcoins and one bitcoin on the market, which is why altcoins grow much more than bitcoins.

LimLims

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1xbit.com

I would say No, Altcoins are never useless.
You guys will be shocked to know that due to altcoins, the price of the coins get affected.
Due to the altcoins only the trading volume of BTC increases, for which the price rises.
So i would say that altcoins are never useless

monster2

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for me altcoins are not useless now because altcoins are more valuable than bitcoin because of the very low price of bitcoin now very little is the likelihood you earn a great deal here.

deodivine1

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The candid fact is thatany projects sprout simply because of the money, no plans for the coins after token sale. Well, not all are in this category, some go far to develop their product. Let's take a look at pundi x, the real life POS device if adopted by malls will make sense right? Also VECHAIN is making way with IOT, recently I saw production of milk powered by VECHAIN.

bitkanu

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Quote from: Toraynt on June 06, 2019, 02:49:23 PM

Most altcoins on the market are of course useless, but there are also useful, working and actual altcoins that develop the cryptocurrency

Well if you are talking about cryptocurrency that was made only for airdrop and market manipulation then yes, however if you are talking about altcoins that has raised huge funds then no, those coin usyally have unique function to their own, its just minority of them that really gets the attention.

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