in order to objectively assess the situation you need to understand a particular altcoin and be an expert in this matter. for myself, I decided that the best investment is bitcoin and Ethereum
The first of course bitcoin and not because it is the first because even if it happens so that it will not cost anything it can always be sold to collectors - because bitcoin is a story. Well, The main favorite of course Ethereum 1. Buterin won't make it bad( 2. This is the most powerful token that is only on the market. 3 Almost all new ICO's come out on it. 4. in the future, the speed of transactions will soar to 1000 000 per second
Topic: The biggest problem of altcoins - page 30. (Read 4912 times)
The most problem I see in alts is their teams and future monetization of their products. Most alts I don't see how to use and who will pay for this new tech that they are creating. And teams of devs can forget about the project and you can't do anything.
I suppose the largest problem of altcoins is their number. As there are more than 1600 cryptocurrencies on the market people simply do not understand how to choose the right alts. They often make mistakes.
one of the most painful problems of alcoins is a big quantity different kinds of coins. it causes a headache to monitor trends and news about all of it. too difficult to decide which coin is good and promise big profit.
....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.
We can't change the fact that altcoins are still like babies who still rely on their mother which is bitcoin. I hate pumps and dumps but we all know that deep inside we also liked it and we want to get those profits. We benefit from it so don't blame all of it.
I think the biggest problem right now is the increasing number of fake coins and ICO's and if that can't be controlled we would be seeing a dying economy of altcoins. We need more security tokens right now or platforms that can secure us from these fraud ICO, something like menlo.one a platform that will serve as a filter to fake and good ICOs.
....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.
Yes, I also consider the price dependence of altcoins from bitcoin as the biggest problem of crypto currency. However, the dominance of bitcoin will inevitably fall with time. Already now it is at the level of 40 percent, although a year ago there were 51. I think that now bitcoin did not, it will inevitably lose its popularity, and with it the dominant role among the crypto currency. This process has already been launched by bitcoin investors because of its misuse. The use of bitcoin to a greater extent as a means of accumulating value leads inevitably to its significant loss of value. Then bitcoin will lose everything. 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.
I also want to add the bounty hunters that dump their reward after an IcO. Since hunters do not invest money they easily dump their coins after getting it, this affects the market value of the coin so some of afraid investors will tend to sell theirs as well to cut lose.
To defeat Bitcoin, an altcoin would require not just superior technology, but such vastly superior technology as to be an advance over Bitcoin comparable to the advance Bitcoin represents over fiat currency. Furthermore, a truly great innovation would much better serve people by being incorporated into future versions of Bitcoin rather than by requiring them to switch to something else
This, even if a new coin was developed that was so much better than bitcoin if it is still based on the blockchain what it is going to stop the developers of bitcoin to adopt the idea? For example many wanted the bitcoin developers to add full anonymity to bitcoin but that will make the problem of scaling of bitcoin even more difficult so that has been left out and that is why anonymity coins are thriving in the market, but if that was not the case then anonymity coins will not exist and all their market share will belong to bitcoin.
I agree that the main problem of altcoins is tremendous dependence on btc, which is not correct and even unfair. Hope it's going to change in the future or the whole crypto market is going to look very poor and dull. The person who will change it, will make new crypto history, no doubt.
So far, the main problem of altcoins is the dependence on bitcoin and its price movement. This is not a stock market and it is not a futures market - here basically the entire trading volume is traded to bitcoin . Bitcoin is going up - all altcoins are going up and the decline is sharp dump altcoins. From this it is necessary to leave and make more trading pairs to the dollar or Fiat.
....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.
While what you are saying is true rather than being disheartened by this its important to analyze the reasons why this is so.
1) The largest and most important being that most alt coins have little to no volume, so while they may boom when market are going up no one wants to holding them in bear market.
2) Most alts are still only used for speculation and have little to no use case i.e people only trade alts to get more bitcoins. I mean think about it how many of the so called utility tokens actually have any product, which was the last token product that you personally used in your life to serve some purpose.
3) Bitcoin is considered the safe asset/perhaps only asset that has any value and therefore in a bear market as peoples goals move from wealth creation to protection they will naturally move their funds to those places they feel are safest.
As for your statement that "The first altcoin developers who claim their absolute freedom from Bitcoin will be the real winners of this crypto game"
Well i think that almost all developers claim this, that their coin is free from bitcoin, again making a claim dosent make it true.
Are there any currencies that can exist independently of bitcoin? he's a father of crypto, in one way or another, everything will depend on his course
Yes, the biggest problem Altcoin really depends on Bitcoin. I like to think if one day Bitcoin die. Is Altcoin still alive? While the king of the coin is dead. Everything is unpredictable but as long as there is still I will take advantage of this moment as well as possible.
That's just about my sentiments on the matter. All of these alternative coins appearing, and only a few that have real innovation which expands how we utilize the tech. The infrastructure is there, but the next generation level of innovation seems scarce.
There's plenty of good projects with solid teans behind them, as well as loyal communities. It may not be some time before a real game changing innovation is seen again, but then again, who knows?
There's plenty of good projects with solid teans behind them, as well as loyal communities. It may not be some time before a real game changing innovation is seen again, but then again, who knows?
Altcoins were created to Improve Bitcoin. That’s why we can name them “Alternative BitCoin”. Besides many altcoins are developed because they think they are a “better Bitcoin” but they don’t have what Bitcoin has in terms of being the first, having the large developer community, and having the trust of a network. Others are developed to solve niche things which Bitcoin doesn’t have. If bitcoin fails too early, no altcoin will succeed.
Everything and everything that happens with virtual currencies was completely unpredictable. It is our own kindness to be safe, overcoming the problems that exist around.
Since most projects use btc or etherium for transactions, and they have fallen in price, all altcoins are depreciating too. thats the main problem of alts.
The biggest problem of most coins is they are useless and there is no value behind them. Most projects do not have their own tokens
I don't think any two altcoins share same problem. All currencies are unique and similar in their supposed dependence on bitcoin. Altcoins prices are affecteded by that of btc. Which I think is because market trend reflects first on btc.
Btc doesn't control the market value.
Btc doesn't control the market value.
Yeah, the main problem now is this dependance, but on the other hand BTC, as a brand, promotes cryptos as a thing. Imagine, there are no BTC, but shittons of all these alts, including scam and copycats. Cryptos then could be associated with something even more unreliable and inpredicatable than now, for years, so let it be like that for a while.
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