Topic: Why are altcoins important? (Read 3604 times)

Of course not! There are a few hidden gems out there. You just have to find them. I don't think the concept of "altcoins" will disappear. Especially when Bitcoin is an open source cryptocurrency. What will happen is that existing projects will be replaced by newer ones in the long run. Assuming they're only driven by hype/speculation instead of utility/innovation.

I'm afraid the vast majority of altcoins will die (around 90%), as everyone moves on to the next big thing. Still, that doesn't mean you can't make money by riding the hype train. Unlike Bitcoin, altcoins are often cheaper and are prone to extreme market volatility. You can make huge profits with them if you know what you're doing. Ultimately, no coin will be able to take down BTC's spot as the #1 cryptocurrency in the world. Just buy, "hodl", and forget about the rest.

Altcoins has a less important,to me,just take a good look at altcoins,coins with variable supply,smaller user base,low liquidity,different features and user case,and the one that mavle me the most, it is an alternative cryptocurrency,that is a very big red flag.
In conclusion anyone who want to go into the crypto market,should invest in bitcoin,that is green flag.

Indeed, a deep understanding of market analysis is essential in the investment world, especially in highly volatile sectors such as bitcoin and altcoins. With careful analysis, investors can identify better opportunities and avoid the risk of fraud. In addition, it is also important to keep updating knowledge about market trends to make wiser investment decisions.

because cryptocurrency or altcoins provide a lot of help to communities in this field of the industry. Although the risk is usually always high. But we can get more opportunities from altcoins.

we just need to be more careful in choosing the alts to choose so that the capital we use is not wasted.

Exactly right sir. Besides BTC called Altcoin and exactly as you said above that can make the crypto world busy, they deploy it through the ETH network and we also admit that advice must be selective and if we choose the wrong one then our investment goals will not reach the level of financial freedom. That's what everyone wants, to have enough money and be able to relax and spend time with the people we love without being burdened with money anymore.

I don't think all altcoins are scams, but unfortunately most of them are. They are important for the expansion of the ecosystem.
Actually, even though many people say they don't like hype meme tokens today, they are interesting for people who are introduced to cryptocurrencies.
Such projects will evolve over time. Until then, I don't see much of a problem with them being interesting. It remains a matter of preference.

Back in 2016/17 time, people used to trade more in BTC pair and the purpose was to increase their bitcoins by trading altcoins. Modern day trader won't understand this. Just as they trade altcoins with USDT to increase their USDT but back in time it was to increase the bitcoin and that is the reason we saw the biggest Bull season in 2017.

Altcoins are always risky to invest in as no matter how good the project is, it is made to make money for the project owners. However, altcoins are now a part of crypto space but we should care not to invest too much in altcoins that we forget that Bitcoin is the King.  

BTC is the stability.
Alts are the potential, but too much risk sometimes.
You can do both and be fine.
 

Alts might be a "NO NO" for professionals but neglecting the fact that it is clear case of "fast paced profit", will be folly.

The best ROI, what we know and call 10X, 20X and co, all are a regular trip on Alts than they are in BTC. The golden question becomes, why not take the risk but with mitigation though?

As Abiky said (and I agree on it) - you need electricity, and a cheap one at that, to profit well from such activities.
Or just buying SOL and keeping the rest to the alt season 

This is why for everyone who intends to build their portfolio around investment, they need to understand the process and the strategies of making a profitable investment. In depth analysis is one of the most important aspect of investment. Through analysis, you're able to make more informed decisions, you're able to understudy the market fluctuation, market sentiment and historical patterns which helps to predict potential bitcoin market movement.

In-depth analysis also assists you to avoid scams which are targeted at uninformed investors. It tells you what altcoins to invest in and a project that isn't credible. It helps you understand the profitability of a coin and its ability to outlive a long term or short term performance of the investment.

It's only profitable if you have free or cheap electricity. But most people don't have such opportunity. Therefore, staking would be the only way to go. There are plenty of PoS coins on the market. You can leave your coins sitting on a wallet to earn rewards in the long run. That's certainly not possible with Bitcoin. At least, not natively.

Altcoins prove to be an inexpensive choice for those who want to get into the crypto/Blockchain bandwagon. Especially "meme" coins like Dogecoin and Shiba Inu. Without altcoins, developers won't be able to test the Blockchain's capabilities/limitations without putting the main Bitcoin blockchain at risk. Not to mention, BTC network congestion will worsen as it'll be the only cryptocurrency in existence. So long as Bitcoin exists, altcoins won't be going anywhere.

I threat altcoins that has poor whitepaper description as long term projects but anything otherwise is short termed. We have good projects in the altcoin cycle and one easy way to find most of this is pay close attention to the detail in the whitepaper, understand what problem the coin has in mind to solve, look at their ICO, total supply and market capitalization. Meme coins are mostly very short termed, it is a hit and run kind of approach. You can't invest in meme coin and sleep comfortably as though you have no problems. As long as I invest in meme coin I am always at alert to take profit at any slightest pump.

Well I like altcoins that I mine, The altcoin miners tend to be WAY MORE profitable than bitcoin miners, but you can get the alt currency from your mining for example Kaspa coins and then transfer them into BTC and HODL the profit in Bitcoin

When anyone is investing in bitcoin they won't want to consider buying altcoin and there are people that are heavily making profit from investing in altcoin and you you need to do is to invest in the once's with potential, because personally I even prefer to invest in altcoin than to invest in meme coins when you invest you might not be able to actually make any money from altcoin there is much trust from altcoin than in meme coin just understand the market and this are going to be less stressful and the risk will also be minimal for those that actually care about risk, there are people that no matter how risky it is they will still continue to do it, until maybe when the money they have lost is enough for them before they retrace back there steps.

Analysis before any investment is very important - in alts and Bitcoin alike.
Only after thinking out every pro and con a person should go in with the money he is willing to spend.

Of course, in-depth analysis before investing in altcoin is very important. In addition, by understanding the trends and stability in the market, it makes it easier for us to be wiser in making decisions.

I would not be surprised if in the mainstream world exchanges (marketplaces) that have an actual interest in the goods they trade are deprecated, indeed even regulated to be so possibly; but it has always seemed to me in this field that one of the really big problems with exchanges is precisely their lack of interest in the projects that merely by listing they supposedly "support".

I do not actually know why other DMDers tell folk looking for someone to contact about a listing "you do not need our permission, you are free to list it or not as you choose" but for me at least listings whose only interest is fees, and therefore volume rather than sheer size and depth of the buy-side order-book if not both sides of the order-book, seem as likely to be harmful as helpful.

The DMD team does of course like to point out that every sell is a corresponding buy and vice-versa and of course that is absolutely correct, but as I have also learned over the years takers are takers whichever side they are taking from, and volume is a measure of taking.

Volume is the destruction of offers, the taking of them.

I think some usages of "liquidity" sometimes is a/the unit more important than volume, because who really cares whether it takes moments or years to get for your goods what one considers them to be worth, unless of course one's offered goods are not in the first place what you can afford to lose, which I am fairly sure almost everyone here is well aware is precisely what such goods supposedly ought to be?

So in usages where what we mean by liquidity is basically the total order-book of offers that are still in place despite volume's destruction (taking) of offers, liquidity seems to be what one wants, and if the exchanges were actually interested in the things they list it ought also to be what they want and which thinking about it I just realised maybe is a form of "total volume locked": the amount of value tied up in offers that at a given moment have not yet been taken.

I wonder how Amazon would be doing if it were always sold out of every good it trades in?

And also all on back-order so all its buy-side asset ("money") also sold out?

That would be highest possible volume but maybe not for long.

Maybe a marketplace that isn't eager to add your wares to its offerings isn't really worth driving your wagon to and setting your stall up at in the first place?


-MarkM-

I think it's a choice, sir. Some are happy to take bigger risks and some are willing to play it safe, especially altcoins. I don't think it's wrong for users, exchange owners are also wrong because they enrich the wrong developers.

They should check the tokens that will be listed on their exchanges, don't just display an attractive white paper, list it immediately, then the token owner also sells and lowers the price periodically significantly, the ones who lose are still the exchange users. Finally, the coin is delisted from the exchange but goes home with victory by bringing home tens of thousands of dollars from buyers.

I totally agree.
Big alts are here to stay and they are not a bad investment at all, they can accompany BTC in your portfolio well, in my opinion.
New alts or shitcoins - yeah, those are to avoid, though, when I see numbers on dextools on Pochita, for example, I wonder what people think when they gamble thousands of dollars