Topic: What is actual use of altcoins other than trading? - page 5. (Read 470 times)
Yes some altcoins like ETH, LTC, DASH, DOGE can use it to buy product and service in merchant. I have seen many starts ups created product to possible to buy coffee or other goods n service in cafe, restaurant and store. One of the starts ups that development product that enable for crypto to buy goods and service is Pundi x, this project has working product and their service used in many outlet and cafe in Jakarta.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
That is a very good question. I sometimes ask that myself. But as a longterm altcoin holder in Aeon, I speculate that the future of the cryptospace will not be a single currency ecosystem, but a place where there are different coins complementing each other. It has to be. Can you imagine the cryptospace that has only one coin to rule them all? That would be so boring.
The more cryptocurrency we have, the more ecosystem exist in the cryptospace, more competition, more copycat, less innovations and soon more cryptocurrency will die. The only rules of survival, copy the system that really works. The more dead cryptocurrencies will create crypto-junkies just like a dead spacecraft will create more space-junkies. Altcoins use cases has the same concept of other real world transactions like casino chips, gaming tokens, utility tokens for other companies.
I reckon this is where we begin to see Darwinism happen in the cryptospace. The weak will die and only the strong shall live on and survive. The scams will be exposed and only the real projects with real grassroots support and the best open source developers, who require no outside monetary support, will survive.
As I conclude from replies, few coins are accepted widely. Other coins need more time and work to create acceptance. Currently most of coins are using in their own framework.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
Altcoins is a term used to call other cryptocurrency which is not bitcoin. There are two type of altcoins, the major and minor altcoins. Major altcoins are the one's with higher market capitalization just like eth and ripple. Each coin has different uses aside from trading it. These altcoins where made to correct what bitcoin innovation can't offer. Right now bitcoin is more of a store of value than a cryptocurrency.
Here are some altcoins and its uses:
Dash (DASH) is an open sourced, privacy-centric digital currency with instant transactions. It allows you to keep your finances private as you make transactions without waits, similar to cash.
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
http://sebfor.com/ethereum-not-altcoin/
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
That is a very good question. I sometimes ask that myself. But as a longterm altcoin holder in Aeon, I speculate that the future of the cryptospace will not be a single currency ecosystem, but a place where there are different coins complementing each other. It has to be. Can you imagine the cryptospace that has only one coin to rule them all? That would be so boring.
The more cryptocurrency we have, the more ecosystem exist in the cryptospace, more competition, more copycat, less innovations and soon more cryptocurrency will die. The only rules of survival, copy the system that really works. The more dead cryptocurrencies will create crypto-junkies just like a dead spacecraft will create more space-junkies. Altcoins use cases has the same concept of other real world transactions like casino chips, gaming tokens, utility tokens for other companies.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
That is a very good question. I sometimes ask that myself. But as a longterm altcoin holder in Aeon, I speculate that the future of the cryptospace will not be a single currency ecosystem, but a place where there are different coins complementing each other. It has to be. Can you imagine the cryptospace that has only one coin to rule them all? That would be so boring.
The more cryptocurrency we have, the more ecosystem exist in the cryptospace, more competition, more copycat, less innovations and soon more cryptocurrency will die. The only rules of survival, copy the system that really works. The more dead cryptocurrencies will create crypto-junkies just like a dead spacecraft will create more space-junkies. Altcoins use cases has the same concept of other real world transactions like casino chips, gaming tokens, utility tokens for other companies.
I think that in addition to altcoin used to pay for altcoin balances to cover the weakness of bitcoin is the limitation of the amount of bitcoin in circulation that is only about 22 million coins only, Altcoin also can be an alternative for us to collect bitcoin, after collected you can exchange it with bitcoin and you can use for make bill payment like water and electricity, so another bitcoin function can to make payment ...
we can use it for almost everything.i mean there a token you can use for charity, there another token create for helping some company with their work etc. that thing called utility token i guess. but yeah some token created just become a trading pair, like tether for examples.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
That is a very good question. I sometimes ask that myself. But as a longterm altcoin holder in Aeon, I speculate that the future of the cryptospace will not be a single currency ecosystem, but a place where there are different coins complementing each other. It has to be. Can you imagine the cryptospace that has only one coin to rule them all? That would be so boring.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
As of now, many people are investing on these cryptos including bitcoins only to make profits because in many countries we can't buy anything with these coins yet. So we are forced to convert our bitcoins to fiat and buy the things which you want. Only in some countries, people can use bitcoins directly to buy some of the items not all. So I think both bitcoin and altcoins are mostly an investment purpose to make a profit not many real usages.
Yes there certainly is. All altcoins dont have the same purpose. They are created for a special purpose. If you check before a coin is launched, they have ico running you can find the whitrlist that details all information regarding the project.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
If you are asking about TOP-100 of CoinMarketCap, then yes, almost every altcoin is used in its own ecosystem. You can open the official site of the coin or token, and read, what the technology or service is implemented by this altcoin. But there are more than 1000 crypto currencies, and, of course, not all of them have a practical using other than a speculations on the crypto exchange markets. Can someone is using altcoin for purchasing and shopping etc.
There some alt called utility coin/token. So that coin not used just for trading but can be used in real life for example pay your rent, electricity even for pay any online product.
It's true. Very few altcoin that are used today. Off the top of my head it's Ethereum for ICOs and smart contracts, Bicash for just transactions, Litecoin for the same purpose, Monero for dark market. And that's probably it 
Another great coins and tokens are in ongoing development which can potentially be widely used. But most what we have today is useless and have no purpose...
Another great coins and tokens are in ongoing development which can potentially be widely used. But most what we have today is useless and have no purpose...
There are but only few of them are really being used as such while others are just trying to implement for years.
Sia coin is developing a product for four years.
Whle newer token Gladius has already started the service in beta.
Sia coin is developing a product for four years.
Whle newer token Gladius has already started the service in beta.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
Coins or tokens are nothing new. They were around long before the blockchain was even thought about. Buying tokens for the use on subways. Chips for gambling, and tokens for use in games on facebook and other platforms. There are an unlimited amount of uses for them. Each company has the power to create their own use. WePower using it to trade energy. CargoX requiring tokens to pay for bill of ladings. On and one.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
Well each alt coins has there own objectives that they want to achieve and the reason why they are doing ico is simply to get budget in developing there desired goal, Like for example banca tokens a side from trading they are achieving to make a decentralize banks fixing the issue of traditional banks another one is Polymath they are into SEC and each token is use to pay for that. each tokens have there own purpose purpose why they are being created.
You can surely purchase things with altcoins and if altcoins are not accepted, then simply exchange them to bitcoin and make your purchase. But I think despite trading altcoins are surely mostly used for online gambling. I have noticed that more and more online casinos continuously add more and more altcoins as deposit and withdrawal option.
yes, there is actual use of altcoins, as nowadays mostly every coin that is launched in the market have some practical use & few are considered as utility token which can be used within their ecosystem or externally which helps users to solve some problem. Just see any ICO white paper & read how that coin will be used in practically & how it is going to benefit mankind. If you find any new altcoin ICO's without a working product and/or practical use then that coin is not worth to buy & never invest on that ICO they can be more likely a scam.
Here most of us are trading altcoins with bitcoin to earn profit. Just want to know is there any other use of altcoins other than trading?
Can someone is using altcoin for purchasing and shopping etc.
Can someone is using altcoin for purchasing and shopping etc.
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