Topic: The biggest problem of altcoins - page 45. (Read 4878 times)
I don't see any problem of those altcoins. Bitcoin and altcoins can both give us good earning. But it depends on th esituations. Altcoins has also a volatile value like bitcoin that anytime it can coorect its price that goes down and up. It will just depends on your management on how you handle your trading on alternate coins and bitcoins.
Yes, such a problem exists, but the correlation coefficient will decrease and eventually reach a minimum. This is due to the fact that this market is very young.
The biggest problems I have seen with Altcoins are;
Most of these alts are based on projects that have no real life usability or things that shouldn't be brought to blockchain, and as a result of this, the Project can easily down so as the coin associated with it.
Another is the dependency of Altcoins on Bitcoins. We have seen in situations where the price of Bitcoin goes down making alts to fall greatly in value. This is a very big problems.
Most of these alts are based on projects that have no real life usability or things that shouldn't be brought to blockchain, and as a result of this, the Project can easily down so as the coin associated with it.
Another is the dependency of Altcoins on Bitcoins. We have seen in situations where the price of Bitcoin goes down making alts to fall greatly in value. This is a very big problems.
The biggest problem of altcoins is bitcoin. Probably all alts have a 99% correlation with btc, so it is not good for long-term investors, because when bitcoin will die, the price of all altcoins fall very much and many of them also die.
This is because everyone is still afraid of the risk of a very volatile decline, with the stability of the price of bitcoin and altcoin so far that makes the reasons for people to prefer to invest in bitcoin. Although in altcoins such as etherum and litecoin already have stability close to bitcoin.
It is true that bitcoin influences the market, but with the popularity of Ethereum blockchain and its derivative coins this might not be the case in the future.
Yes i agree that all altcoins are denpendant with bitcoins because it is the mother of all cryptocurrencies and that will last for years i think. That is why majority of the investors in cryptos would rather chose to invest in bitcoin than altcoins even when the price is too much expensive.
people still get into trouble with the fact that Bitcoin has a limited supply. One criticism that Bitcoin's supply is how miners cost if they no longer get the rewards from the blocks they get. They are afraid the mining system can not continue because all Bitcoin has been mined. Miners must continue to rely on transaction costs to keep operating. I agree that ethereum and other coins can replace our addiction to bitcoin..
Well actually there are numerous coins that outperform bitcoin and improve in value even when bitcoin is experiencing a dip. These coins tend to be located in the sub $30m market cap territory, so are likely controlled by different factors rather than general news surrounding cryptocurrency. Just check out coinmarketcap.com and look for new, promising coins that are on an upwards trajectory, it isn't too difficult to find one that will appreciate well.
Such coins are subjected to pump and dump people involved in closed insider groups ... and just so you do not get insider information
Well it is not the problem with altcoin,it is a problem with traders,they run after btc so much that whole market is dependent on btc.when btc pump, trader start selling to ride on btc rally and when price dump,they started to panic out and cashout.whale manipulation is also a big factor.
Well actually there are numerous coins that outperform bitcoin and improve in value even when bitcoin is experiencing a dip. These coins tend to be located in the sub $30m market cap territory, so are likely controlled by different factors rather than general news surrounding cryptocurrency. Just check out coinmarketcap.com and look for new, promising coins that are on an upwards trajectory, it isn't too difficult to find one that will appreciate well.
Such coins are subjected to pump and dump people involved in closed insider groups ... and just so you do not get insider information
On the cryptocurrency market, bitcoin is by far the most important. It is somewhat normal for all other coins to refer to Bitcoin. It is a fairly stable currency, which up until 1 year ago had no big fluctuations, but it was only growing. I do not think it's going to change soon. But I also think that if there is a currency, what will not be related to bitcoin, that will win the market cryptocurrency.
On the cryptocurrency market, bitcoin is by far the most important. It is somewhat normal for all other coins to refer to Bitcoin. It is a fairly stable currency, which up until 1 year ago had no big fluctuations, but it was only growing. I do not think it's going to change soon. But I also think that if there is a currency, what will not be related to bitcoin, that will win the market cryptocurrency.
The one of the biggest problem of altcoins that they are so joung. And there are too much similar projects appeared last yearы - it should take time for them to strengthen its position, become more self-reliant and sustainable, which will make them less dependent on bitcoin. Right now BTC is main asset in crypto world and when we get negative news , the whole crypto market is under pressure.
Too many ICO projects and many would be near about same and trying to get the investors which is happening now days. Many of them want their coin to be listed in best exchange and trade at higher value so that they can make some good money with their coins. But if the team themselves do not care much about coin for a long term perspective or want to sell and move to other project once it reaches some price it can be drastic for investors who invest their money.
The one of the biggest problem of altcoins that they are so joung. And there are too much similar projects appeared last yearы - it should take time for them to strengthen its position, become more self-reliant and sustainable, which will make them less dependent on bitcoin. Right now BTC is main asset in crypto world and when we get negative news , the whole crypto market is under pressure.
Too many ICO projects and many would be near about same and trying to get the investors which is happening now days. Many of them want their coin to be listed in best exchange and trade at higher value so that they can make some good money with their coins. But if the team themselves do not care much about coin for a long term perspective or want to sell and move to other project once it reaches some price it can be drastic for investors who invest their money.
The one of the biggest problem of altcoins that they are so joung. And there are too much similar projects appeared last yearы - it should take time for them to strengthen its position, become more self-reliant and sustainable, which will make them less dependent on bitcoin. Right now BTC is main asset in crypto world and when we get negative news , the whole crypto market is under pressure.
The problem with altcoins is that their perfomance is measured in terms of BTC.of course,the price of bitcoin affects the situation of the entire crypto-currency market.but other blockchain technologies are pretty good rather then BTC.
That is the essence of crypto, a basic foundation that people seem to forget easily in all their talk of being the Bitcoin killer, better than Bitcoin, competitor of Bitcoin, etc. As much as alts don't want to admit it, crypto is equated first and chiefly with Bitcoin. If Bitcoin does well, then in general the way and path is widely open for alts. And the inverse is completely true as well. Blockchain may be the value within, but not in this climate when utility is still not achieved.
Many Altcoins are the Cryptocurrency tulips. They never have the infrastructure, the support, the nodes, the merchants, or the high-end developers to continue their existence, so from that moment on, they envision a scam.
Right. altcoin is always dangerous because it can be scam at any time. a coin is not practical, it is easy to scam
If invested or bought an unknown coin then chances are very high that it would be dumped quickly or get scammed as those are money making tricks by the developer of the coin. So always do not invest a lot of money on such coin and do your study thoroughly so that you can reach on some decision and pick the right coin for purchase.
Bitconnect is the perfect example for this. They have own wallet and exchange platform but they cheated many people as it got reported on this forum multiple times.
We need to check the project potential level and sell the coin if that reaches to expected value level.
Cheap altcoins also bump in the marker later but need to learn their white paper to understand whether is the future focus on their toad map.
Don't you think Ethereum is close to BTC-independence?
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