Topic: What do you think of altcoins? Don't you think who has too much for nothing? (Read 723 times)

Anyone can create their own crypto currencies, some are creating their coins while most of them are using other blockchain to create tokens but in my opinion most of them were pretty useless because they have no real use case, every token has been used for bump and dump not for the purpose which is created for.So investing on them holds huge risk as well, its either to choose best of all or just don't invest at all.

if you are lucky, of course, you can produce high profits. but the new kin risk in the market is huge. many new coins don't last long on the market. try to see the development of coins for one year. if they can survive maybe they are worthy of us as investment assets.

Yes there is no barrier or limitations in creating new coins in a single day. That is why there are new coins developed daily. The competition in here is for investors in where they may invest their coins. Coins are legit by the way. Many people just do not believe it because of the news that they hear everyday. Bad news keeps on propagating about coins. So as an investor you must always have more research before investing your money in a specific coin.

Depend on the market trend because if that coin is of great interest and the development team always has a lot of outstanding news, it will surely attract a lot of big investors. I prefer to invest in newer coins because it yields huge profits if you are lucky and of course, the risk will be very high compared to the coins available in this market so please consider when deciding.

The problem with new altcoins are the team and developers, the kept making unnecessary crypto projects to take advantage of the technology and cater away with investors funds that's why we keep seeing many old ideas over, stay away from repetitive projects, that's all I can say

The reality is that we do have lots of Altcoins in the market which actually make it flooded or crowded but not all are tend to be used by people because most of them are just sharing the same kind of idea and features and just added by some improvement just to make it unique and incomparable to the other existing Altcoins.

Actually we cannot control the making of Altcoins for there are lots of people thinking in this world the concept that cryptocurrencies can lead the way of making solutions regarding social problems that are needed to be attended with the approach of using cryptocurrencies and blockchain technology to help out on this. But with such concept, we are overlooking the real essence of useful cryptocurrencies due to we just keep on launching a like projects which makes a lot of Altcoins already in the market. It is just that with such number, many of those are already being left behind and ignored. Though there is nothing wrong about the existence of Altcoins in the market, you just have to be picky to choose only the essential Altcoins based on your preference and never mind other things so that you won't get problemtic on thinking how can you manage such numerous Altcoins in your portfolio.

First of all, it not all altcoin/ERC 20 token are useless but 90% of them are because of the level of imitating others project concepts which only make most the copycat project live in the shadow of the first project that implemented the concept.
Second, you need to understand that the altcoin market is highly manipulated and this is the reason some investors choose to have little while they invested most of their funds in bitcoin.
Conclusion, having too much altcoin if you don't have adequate time to manage your portfolio is bad and choosing centralized/hype base altcoin is the worst.

First let me mis-quote Pokemon "You can´t have them all!"  - Seriously, at the point where a altcoin has a real life use case and some momentum going it´s imho ok to consider an investment. The use cases are crucial, since they really need to solve a problem and not be there just for the sake of being there as an object of trade.

It is a decentralized market. No one can stop a person from creating a new altcoin. But not all altcoins are bad. There are some altcoins that are unique or has something new to contribute to the crypto market. Those are the ones that people are using or will be using. But, yeah every day a lot of new coins does pop up which are nothing but garbage.
And no ERCs aren't totally useless like you think.

What I think about alts is that we have to many of them already in the market, and %99 percent of them don't have any use case at all, they usually have too many supplies that won't benefit anyone or the project,  at the end the this huge supply will be the reason why the price will not be able to grow, I think dev team are just creating too many supply to their advantage only.

I don't trust new altcoins, they are mostly built by scammers, I wish people can start investing in projects that are already on top ranks on coinmarketcap, they are less risky and active than most new projects that will turn scam later, if I have to trust any it will be a project that was announced by top exchanges like binance

Yes, there is no need to answer everything, as long as you already understand from what is conveyed by everyone here, and hopefully you can be helped by all the solutions that have been given by the people here.

That's why majority of them will only exist as ERC20 tokens and nothing more. Most of these projects don't even want to get their very own blockchain. With over 2000+ altcoins, only a  few of them have made their own blockchains. It's either an erc20 token or a fork of btc with little to no modifications. One thing is clear, more tokens will still be created and injected into the market since everybody has the ability to make their own tokens. 



Altcoins have more risks compared to Bitcoin that  is why it's the preferred option for people who like buying and hodling for a period of time.

I did not answer everyone but your comments is well read is also for people of the communities bitcointalk

It is true there are more dormant or dead project than active project, but also other which are only for the scam therefore many coins.

I also agree with you it's only ERC currently no projects with real development from 0.

I think with the future but if a problem occurs with the Binance platform like Mt. Gox it is cryptos controlled by exchange platforms.

That's why people in the world only know Bitcoin, and only crypto fans who understand altcoin and understand it widely. maybe altcoin requires time and further education for it, so it is widely known like bitcoin today. maybe the winner in the future is altcoin which has a function or feature that is really needed for use in the real world. I don't really expect altcoin for the long term, because Bitcoin is nearing perfect use in the real world.

The problem is not with eth nor it is with erc. Blockchain has nothing to do with a coin being a scam or being a bad one, probably it is just the opposite it would help it be a good one. You are basically removing almost all the problems with the project building and leaving you with just the features and simple stuff. So, yes it could be both a great thing and it could be a very bad thing.

If you give someone a way to build something awesome but also a way to scam people very easily as well and some people will pick one and others will pick the other. So at the end of the day, it is more like guns do not kill people but people kill people, well technically speaking guns do but guns do kill people while other people are using it. So I think this is the reason why ERC is not why projects are bad.

I have been saying this for quite sometime now. There are too many altcoins in existence now. Out of the 10,000 or so altcoins created to date, the majority are now dead or dormant. But still, a few thousand of them claim to be active and even this number is huge. There is a saying - too many cooks spoil the broth. The condition of the altcoin market is like this. There are too many of them around, and this means that none of the coins are able to become 100% satisfactory to the users.

I see no future for new altcoin to boom the crypto market right, I myself not interested in investing in new altcoin at the moment because no profit comes out from them except the ones conducting IEO on Binance only for short term investment. Altcoin are not of benefits but the little ones available in the industry now are ETH, EOS, Cosmos (Atom), Monero,  these still have million dollars circulations compared to new altcoin at the moment.

We dont need numerous altcoins that has the same goal but failed to implement their real purpose. Then in the end it will be another shitcoins existing in the market and those who know nothing about crypto are the ones that might fall in these coins. So its up to us what to support and trust, we dont need to look at useless coins, just hold and buy a coin/token that you think is worthy and can be profitable if you add it to your portfolio.

Doesn't have to end like that.
They can make a swap into a coin instead of being a token forever under Ethereum.
But this also diminishes the value since some investors won't waste time doing the swap.
There should be another way as long as the owner is active.

It's true and it's also sad.
Reading comprehension is out of the picture.
Why? We wasted so much time before with all the deep research for every altcoin created. Some of them are just duplicate with a small change in feature which is not inviting to buyers.

In my opinion if you have no enough skills trading or holding then new altcoins very risky for you. So between best wishes go ahead investing in BTC, ETH with other top coins. I prefer Learning long time for everyone new altcoins and for old i believe it if a project have no demend then i do not agree invest.

For the most part and by this time, most altcoins not worth their salt have either gone the way of the dod already, or they're about to go that route now instead. In any business or industry, the survival of the fittest rule still holds true. So, if you're an investor, learn to know how to weed the bad from the good or else, you shouldn't be investing in any business or industry instead.

Most of the listed coins were created before the ICO period, they were created with the power of imagination and people working hard towards reaching it.

None of those people made any money, sure they mined it earliest but they were equally challenged and if they didn't had enough mining power they were ousted very quickly and made no money from it, they didn't do it for the money, they didn't do it for the fame, they did it because they felt like there was something missing in the blockchain world that they could change and make a big difference and that is why they created it. That is what lacking these days, people are creating coins not because they want to change the world, they create it because they realized there is millions of dollars to be made from the fools who think ICO is to way to become rich overnight.

It is true that the market is flooded with coins and perhaps we do not need most of these projects and the coins/tokens marketed by these projects are already useless because of no demand, some are struggling to list on exchanges while some are struggling to find buyers, traders and volume at the exchanges.
But still there are good projects also present, I agree the percentage of good projects is small but if you improve your due diligence you will be able to skip most of the low quality projects for sure.

That's right, buddy, in the last two years most new projects only use the ERC20 platform, but most of them don't develop projects in a better direction after they successfully attract investors through the fundraising methods used by the project team, so I think this is what should be tidy up by new project teams so they can compete with old projects that have been successful in all sectors, and in this case I am very supportive of what you say.

No, there is nothing like altcoin indutry, they are not one, they are made up of many blockchains that operately differently and distinctly. All you talk about are new projects. Altcoins are categorize into different types. For example, ether, ripple, litecoin, tether and few others are altcoin but they are strong in the market. But as for new projects, be it ICO, IEO or IAO, they are mostly unsuccessful projects that remain non-profitable for investors.

Simply the altcoin industry is killing itself. The lack of regulation even in a decentralized manner let it grows rapidly which allowed more room for scammers and shitcoins and obviously that it backfiring it. ICO and its related scams for one of visible witness for this.

If we, the forum member's united and provided some guidelines or step of rules what should be followed and what should be avoided then there would have been some chances for having less scams out of less number of altcoins/tokens (less in the sense comparatively what we have today due to no regulation).

Unlike most people do hate regulation, there are big possibilities for regulated environment through consensus to make sure about no breaching of decentralization. That may help good and reasonable projects to have their ICO among this community and scammers to be stopped on the beginning itself. This is how stocks and its related initial offering is working and we do not have a governing body here hence an initiative by high level people may do the same job.

When we filter out non-potential coins then investors could enjoy good ROI which will obviously help good projects to grow and achieve their roadmaps.

Enjin especially has a good future. In cryptocurrency only own coins can take good steps, when sometimes ERC-20 tokens are doing good. For privacy in new coins, investors want to invest in new coins not for using purposes.

They know that but they can't implement the best solution to fix it. In my opinion, 1 problem was being solved by so many projects and this created a very strict competition that the winner will be winning the game and the losers will be dead.

yes, ethereum network is the first network in the beginning from a lot of great project before the project run on its own chain
for example BNB
thats mean eth network is the first choice right ?

Well, so far, the most used platform to create a new token is the Ethereum platform with its most popular one is the ERC20. They choose this platform mostly is because this is the most popular used platform with high community, easy ways, and also affordable fee transactions. Well. for me, actually the token must be different from ETH. Some of them are really worthless, they do not have any future because they only focus on the current project development, only focus on how to gain the money and get many investors. However, some of them may have a future. But they must be a token utility, a real use case in the real world, with significant project development, clear partnership, and also gaining with the popular parties in the real world.

Forks are simply unnecessary garbage that does not deserve any investment in these projects. Forks exist only to improve the technical side of an existing project.

I think it is wrong if we disregard tokens in crypto currency
Be it neo or erc71 or erc20 or altcoins forks, you cannot disregard or underrate any.

Why? The crypto currency space is wide and Clear with different opportunities to take profit.
So instead of holding to much, hodl valuables

the problem is that these projects do not know what problems they may have in the future. Despite the fact that these projects have existed for a long time, a large number of people have not used these coins yet. we have already seen how to suffer the Ethereum blockchain  when a large number of people enter the market

People create or come up with new coins, but not new ideas, there is a lucid unalikeness between creating a new coin and creating a new coin with a new idea, or a new use case. People just reincarnate old use cases that haven't worked before into new coins to scam investors or just to produce coins that is useless to the network.
This coins can give profits in the short period, if you sell when they are pumped, but they haven't helped in crypto adoption, Ethereum imo remains the only alt to have helped promote cryptocurrency adoption.

There is no barrier here to stop the people from creating their new coins or create their token on existing blockchain so they come up with new ideas everyday but we don't have investors to invest on every projects that is why there is no more legit project here.Only scammers stick around to make some more money.

Since today's market conditions are very bad, many projects cannot be realized by preparing their own infrastructure.  For this reason, many projects start operating on the Ethereum network first and then prefer to create their own network.  Although there are a lot of projects today, it is possible to say that some successful projects have made progress in this way and that they first gathered the investor mass in the Ethereum network.  I would also like to say that most projects will be implemented in this way for a long time.

I think ERC 20 have good usage. Surely not all, but some like MANA, Enjin, KNC, BNB etc. have given good profits and at the same time helped in crypto adoption.

I hope that you are aware on the fact of why we have smart contracts/dapps; it helps you to have your own blockchain based coins but without having any actual blockchain hence no hassles on mining algorithm/security of wallets/precautions against 51% attack etc. You can get all the benefits of owning your own like environment but without actually doing. This is the reason we do call those ERC20 things as tokens (and not coins) and I am sure a highly preforming project's token on ethereum blockchain itself may beat etehreum in terms of USD value. It is possible .

If you choose ETH just because it is on top place then you must be purely wrong with your investment decisions. I am not sure when people like you start realizing about the manipulations of marketcap things.

I agree most altcoins/tokens are failing due to lack of support/investors which must be triggered by uncountable altcoins. When we have 1000s of options for slowly growing crypto adoptions, the money get scattered across many altcoins which impacts on good and reasonable altcoins in value wise. You can see many good coins/tokens ate getting delisted just because of low to zero volume on exchanges.

any new coins generated from the ERC20 Platform will not be possible to replace the Original Coins namely Ethereum itself. although in the case of real use most of the new coins are generated from platforms owned by ethereum and the worst is to become junk or useless coins on the market.
Thousands of coins already exist in this market and not all of them are worth investing, I personally don't have a high risk investment appetite, so I think it's enough to invest only in real coins that are already on the top list on the market. , especially BTC & ETH.

If you feel bad about altcoins or tokens then you can stay away from them and stick with bitcoin or ethereum only if you are a conservative investor or trader because we all know alts can be very risky and they can potentially make or break you. So the point is simple, no one is forcing you to buy any coin or token and if you think all coins are useless you should stay only in useful one's according to you.

The market will never stop because someone at some corner of the world is thinking about creating a new coin everyday. This could be out of greed to make money in short period or could be far greater use of ERC standards.

However in both the cases we the user comes under attack and at high risk of loosing money. They are not completely useless though! Good for intraday trading or short term gains. Also if you just think about ETH and BTC then that is all you want and you could simply ignore the rest of the market.

Its not gonna stop today neither tomorrow and so on.

We're used to it and we don't want to have more of it. The ones that are existing in the crypto market shall be enough for us to make our choices even better. There are investors that don't actually like bitcoin for some reason like they always reason out that it's 'slow'.
Minding them that it's due to network traffic and it's improving time after time due to Segwit but they don't mind about it. The new altcoins shall be the cbdc's.

Today, the market is not the same as before

Don't you think ERCs are useless, most new cryptos are only based on ERC , but after that ?, It depends on the Ethereum network.
Ethereum is really a very interesting new technology for the future, but not the ERC, except the stablecoins exception which is really good when the market is suffering.

Monero, Zcash well there are also others but for me Monero is more about confidentiality than Zcash. Monero is the new crypto for traffic is also to break the tracing between an exchange BTC, XMR, BTC, XMR, BTC.

News of the day XD cryptos to save the planet lol it's stupid because we need mining.

XRP, Stellar: fast coins for those who need money urgently but really but other than that? we can't even do mining, Ripple is blocking your 20XRP account, is the price doesn't even talk about it it's too high it's not even worth 0.001 cents .

Do not even tell me about the forks that copy Bitcoin like Bitcoin Cash, BitcoinSV, Bitcoin Gold is sorry for others horrible .

It's just that today a lot of projects are used for not much, it's more the same world, everyone wants to create their own crypto but after not crying because it's a lot of wind blowing.

Also some fork and altoins which are also better in the future like bitcoin but will not exceed the top 1.

Ethereum, Monero, Litecoin, Dogecoin, Chainlink, Tezos, Cardano, Neo, DigiByte, Zcash, Cosmos.

What do you think of the beginning of altcoins, fork we were all on the charm with a wow a new crypto which appears , but now we lose the pleasure of discovering the new cryptos because the market is flooded .