Alt coins are for newbie;s.
ALl folks who had bought Bitcoin family 2 years back are having a joy ride now. For them it is not a loss.
The real money is pumped in recently.
Topic: Do we Need Altcoin? - page 156. (Read 23678 times)
There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?
Do you think that people don’t need ethereum or other useful altcoins? Your question depends on why do you use alts.every popular alts have their aims and goals for example ethereum focuses on running the programming code,its olso used by app developers and its better to use than bitcoin in this situation(olso it's not bad for trading too).. In my opinion its good that there are so many alts because there is competetive environment and it causes to compete each others, wich will develop alts.I hope that,they you will find applicable use of it.
it depends on what you have in mind when you say "need"!
altcoins are supposed to be alternative projects to bitcoin that try and do things that bitcoin can not do. for example bitcoins algorithm is Poof of Work. you can't just change that, so you create a new project and start developing different technologies. PoS comes in. then Proof of Space, and a couple of the Poof of ... that i do not recall right now. then you get technologies that are different, sometimes better, sometimes worse.
so do we need them? yes we need them to create new things. possibly even something better than bitcoin someday. hopefully.
but if we consider the current state of altcoins, the answer is no. we do not need 90% of them. because they just copy paste each other without any improvement or anything.
as a trader's perspective, yeah we need them. the more the merrier. we get more pump and dumps and lots more profit.
altcoins are supposed to be alternative projects to bitcoin that try and do things that bitcoin can not do. for example bitcoins algorithm is Poof of Work. you can't just change that, so you create a new project and start developing different technologies. PoS comes in. then Proof of Space, and a couple of the Poof of ... that i do not recall right now. then you get technologies that are different, sometimes better, sometimes worse.
so do we need them? yes we need them to create new things. possibly even something better than bitcoin someday. hopefully.
but if we consider the current state of altcoins, the answer is no. we do not need 90% of them. because they just copy paste each other without any improvement or anything.
as a trader's perspective, yeah we need them. the more the merrier. we get more pump and dumps and lots more profit.
Developers need bitcoin updates. And we also need this. The currency becomes stronger, faster and safer. These altcoins can not compete with bitcoin. But they can be a promising alternative.
There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?
I think you can consider it as a competition and also a way so the developers can be more careful with the bitcoin's development.
Altcoins that arise after hard fork in bitcoin is inevitable. Someone likes it, some do not. But without this it is impossible. And as correctly stated above "Altcoins are what made Bitcoin the Bitcoin today".
Yes we need altcoins but we do not need more then we already have i think we have like 1200 coins in total and nobody follows them all everyone follows the most popular ones and they only try to follow one if they see how much they can make.
A healthy competition is not necessarily a bad thing. In my own opinion, Altcoins are what made Bitcoin the Bitcoin today.
Altcoins is a must. If we haven't got any of the altcoins now bitcoin could have never gained such a popularity as the present. When something grows it won't be valued, but the same when grow competing with something else surely the growth makes it stand apart from the rest.
I guess the answer is not that simple.
First things that came to my mind are:
Do you mean for the global finance market or do you mean the investment opportunity?
I think there are cryptos that have advantages versus others in certain points of usability and possibilities at the market in terms of purchasing something.
And if your only concern is about the trading and investment, i think thats up to you if you think the new currency is worth investing or not. Maybe the new one is THE crypto everone wants to participate in..then it is good that it was "founded"
First things that came to my mind are:
Do you mean for the global finance market or do you mean the investment opportunity?
I think there are cryptos that have advantages versus others in certain points of usability and possibilities at the market in terms of purchasing something.
And if your only concern is about the trading and investment, i think thats up to you if you think the new currency is worth investing or not. Maybe the new one is THE crypto everone wants to participate in..then it is good that it was "founded"
There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?
Its not necessary but to think off that it would be nicer to engage on more altcoins since it do extent the possibility on making money just like we do experience on engaging into bitcoin. Come to think that every people have its own intellect even though lets say we wont need altcoins but there are minds who would really push that they would create a new coin and would plan to go the same path as bitcoin.Its just like that because we do have dreams to get rich either as a developer or just an investor.
Sure, it increases variety. Think of it as different fiat currencies you may want to invest in. Just because the dollar and euro are the strongest currencies right now, doesn't mean other fiat currencies are not required?
There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?
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