Topic: The biggest problem of altcoins - page 15. (Read 4912 times)
I think altcoins are becoming more independant of bitcoin, just by the look of the statistics of most of them, though I would like the altcoin market to have way less projects because it seems there is too many of them and the majority don't even try to innovate.
....is their complete dependancy of Bitcoin. It really takes all the fun out of crypto trading.
No matter what kind of awesome progress some altcoins make....it doesn't change the trend upwards if Bitcoin doesn't allow it.
Pump and dump groups I also blame. Because of them I'm very positive that Bitcoin won't make it past 30 000 this year. 50 000 to 80 000 would be realistic without pump and dump groups dominating and controlling the prices.
Anyways, these things have to change somehow. The first altcoin developers who claim their absolute freedom from Bitcoin will be the real winners of this crypto game.
No matter what kind of awesome progress some altcoins make....it doesn't change the trend upwards if Bitcoin doesn't allow it.
Pump and dump groups I also blame. Because of them I'm very positive that Bitcoin won't make it past 30 000 this year. 50 000 to 80 000 would be realistic without pump and dump groups dominating and controlling the prices.
Anyways, these things have to change somehow. The first altcoin developers who claim their absolute freedom from Bitcoin will be the real winners of this crypto game.
Man, I totally agree with you. Altcoin's complete dependency on Bitcoin is extremely annoying. You find a great project with a working product and then Bitcoin crash and kill the project's momentum.
In my opinion, the biggest problem or threat the altcoin face is FUD (fear uncertainty and doubt). The main cause of FUD is bad news. The whole market respond explosively to bad news, and the market manipulators are aware of this and utilize it in manipulating the market. I think crypto still needs regulations in other to be fully decentralized and free from influence.
The market is manipulative. Therefore, so often publish negative news.
I think altkoynam not enough popularity of all the population, few people use crypto-currencies
The biggest problem is that they are not used in real life. Until there is application - the market will not be stable.
In my opinion, the biggest problem or threat the altcoin face is FUD (fear uncertainty and doubt). The main cause of FUD is bad news. The whole market respond explosively to bad news, and the market manipulators are aware of this and utilize it in manipulating the market. I think crypto still needs regulations in other to be fully decentralized and free from influence.
For sure it is dependance on BTC and surely scam ICOs and those projects who close after listings.
What you said is the genuine truth and all altcoins development are subject to the Price of bitcoin. With regards to the digital money world Bitcoin is the ruler and nothing can change that for the time being. There is dependably a decision party in all that we do as such I figure is nothing unexpected that BTC is the decision party with regards to altcoins. With regards to pump and dump and whale bunches those are the powers truly controlling the market.
The biggest problem of the altcoins sector is the reliance on investors. There are too many scam altcoins in the altcoin sector. Cryptocurency provides great gains in altcoins when the market grows, but altcoins are very volatile when the cryptocurency market gets smaller.
This can't be avoided because they're in the same encryption market. Most coins fluctuate with the price of Bitcoins.
For me the biggest problem of altcoins is they keep defeating Bitcoin and they're all depend to Bitcoin. Some altcoins incorporate interesting new ideas, but there is an essential feature of Bitcoin which they all lack. And since Bitcoin has a market larger by a wide margin than all the markets of all the altcoins put together, and this makes it vastly more useful as a currency. Also the other problem is some of Altcoin nowadays is no longer around or scam.
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The biggest problem that I mentioned about altcoins is that they don't have a working platform for their projects. Ethereum is too slow. But at least I hope soon we will see some competitors. And then everything will be fine
This can't be avoided because they're in the same encryption market. Most coins fluctuate with the price of Bitcoins.
It is really depressing that altcoins depend on bitcoin, when it tanks they all tanks; when it moon they moon; even sometimes when it moves they still tank; it a very saddened situation
Truly I concur that all altcoins are denpendant with bitcoins in light of the fact that it is the mother of all cryptographic forms of money and that will keep going for quite a long time I think. That is the reason larger part of the financial specialists in cryptos would preferably put resources into bitcoin than altcoins notwithstanding when the cost is excessively costly.
....is their complete dependancy of Bitcoin. It really takes all the fun out of crypto trading.
No matter what kind of awesome progress some altcoins make....it doesn't change the trend upwards if Bitcoin doesn't allow it.
Pump and dump groups I also blame. Because of them I'm very positive that Bitcoin won't make it past 30 000 this year. 50 000 to 80 000 would be realistic without pump and dump groups dominating and controlling the prices.
Anyways, these things have to change somehow. The first altcoin developers who claim their absolute freedom from Bitcoin will be the real winners of this crypto game.
No matter what kind of awesome progress some altcoins make....it doesn't change the trend upwards if Bitcoin doesn't allow it.
Pump and dump groups I also blame. Because of them I'm very positive that Bitcoin won't make it past 30 000 this year. 50 000 to 80 000 would be realistic without pump and dump groups dominating and controlling the prices.
Anyways, these things have to change somehow. The first altcoin developers who claim their absolute freedom from Bitcoin will be the real winners of this crypto game.
One of the biggest problems in altcoins is the ability for its sustainability of the business to deliver the investors and stakeholders with the expectations it promised during the ICO of their project. Thus, people felt being cheated and would probably leave the market; further, the market price of that altcoin will surely decrease. The realization of everyone is that ICO projects seemingly inconsistent as to being profit oriented. Somehow the reason is subjective. But we cannot lay the facts that it might be true...However, it may prove true if no one realized a profit. Thus, everyone gets profit, so as to prove an assumption - it would be difficult.
If I think it is because of the type of the altcoin very much. So the rivalry between altcoin is very tight. And we become difficult choosing the altcoin really good for investment.
There are no difficulties in this if you know how to choose or have at least one token, which you follow for a long time. In this case, even in very difficult times, a small income is provided to you. I agree with topic starter. But what they can do? Many people when heare about cryptocurrency always associate they with Bitcoin and biggest part of all money come to altcoins from Bitcoin.
I think the best thing that you can do is to examine the team, not just believe their marketing slogans. Most projects have nobody in the team with relevant experience and fail to get out a working product, I still think this is the single biggest problem most alts are facing.
If I think it is because of the type of the altcoin very much. So the rivalry between altcoin is very tight. And we become difficult choosing the altcoin really good for investment.
Absolute freedom in regards to price of bitcoin controlling the price of altcoin is very visible, all it will take is for any altcoin to have reputation and integrity of bitcoin and popularity also. Ethereum seem to have all of these, ethereum might be able to break free from this!
In fact, this dependence so big that altcoins have on the price and behavior of bitcoin should be an extra incentive to focus on the only cryptocurrency that has proven to be the most precious in this crypto-universe, bitcoin, because despite the supposed great advantages and improvements offered by the new cryptos, it seems that those who have decided to invest in them only do so in order to speculate and sell them as soon as they obtain the desired profits, only to buy bitcoins back.
And although that may be harmful in the end for all altcoins, the big winner will always be King Bitcoin.
And although that may be harmful in the end for all altcoins, the big winner will always be King Bitcoin.
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