Why are altcoins important? - page 10.

Publictalk792

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Quote from: Kelward on November 08, 2023, 04:41:26 AM

Does this mean that altcoins exists to complement bitcoin? If it's so then what is their relevance without bitcoin? Because what you said means that it is not good that bitcoin should be alone in the crypto space, that it needs other crypto coins to make it relevant. I think that altcoins are on the own level where the emergence of new coins are limitless, and this makes it quite difficult for all investors to know which one of them to choose from. Because amongst them, some might start out as prospective coins to invest in, but later turn out to be worthless, thereby reducing the trust on them as being generally profitable. Unlike bitcoin that have proven it's worth in the crypto market.

Altcoins are important in there own respect, because you'll have many of them to choose from, i also hear that investors can make huge profit on them on a very short term, also that a coin can become worthless anytime and put it's investors at lose. In that regard i can say that it' more riskier to invest in altcoins than bitcoin.

Altcoins serve different purposes and offer unique features that may not be found in bitcoin. But still they can't beat Bitcoin because has its own way and making it journey.

If we talk about profitability it is true that altcoins can give short term profits but they also have higher risks. The volatility and unpredictability of the altcoin market can lead to sudden price fluctuations potentially resulting in losses for investors. Bitcoin on the other hand has established itself as a reliable and valuable asset over time.

At last the decision to invest in altcoins or bitcoin depends on your own risk tolerance.

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Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

You said altcoin meaning is this general? have not you seen that some altcoins staying on top like Ethereum and Binance , so this is not standing about all coins .

selling faster is applicable in Pump and dump coins because you need to get the perfect timing but not in established coins such top5 .

Quote from: Ben Barubal on November 07, 2023, 05:20:27 PM

The question is, are altcoins bad? I noticed that others here in the forum mostly have a bad view of altcoins. Yes, I have been there who use altcons most of the time for bad purposes or motives; the same goes for meme coins and NFTs, but it's not right as if we all see them as bad.

There are others here who are just reminding themselves, but the judgment is speaking in general terms, even if they can't determine what it is or how it became bad or risky. After all, altcoins, NFTs, and meme coins have contributed a lot to the cryptocurrency business industry.

let OP has His belief but that does not stand to all coins and yes NFT seems to be fair and better for semi long term Holding.

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Quote from: konflikkastil on July 04, 2023, 08:05:46 AM

Altcoins are so important, they are the only things keeping that keeps the crypto space market going. Imagine if it was to be only Bitcoin? How many people would be able to afford owning a single unit of Bitcoin. Altcoins came into play and the market was open for new projects and thousands of Altcoins was introduced. Lot of people have made more money from Altcoins than Bitcoin, it has given Bitcoin the run of its life. The best thing that happened to the crypto market space is the introduction of Altcoins every single day.

Does this mean that altcoins exists to complement bitcoin? If it's so then what is their relevance without bitcoin? Because what you said means that it is not good that bitcoin should be alone in the crypto space, that it needs other crypto coins to make it relevant. I think that altcoins are on the own level where the emergence of new coins are limitless, and this makes it quite difficult for all investors to know which one of them to choose from. Because amongst them, some might start out as prospective coins to invest in, but later turn out to be worthless, thereby reducing the trust on them as being generally profitable. Unlike bitcoin that have proven it's worth in the crypto market.

Altcoins are important in there own respect, because you'll have many of them to choose from, i also hear that investors can make huge profit on them on a very short term, also that a coin can become worthless anytime and put it's investors at lose. In that regard i can say that it' more riskier to invest in altcoins than bitcoin.

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Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

Altcoins gives a better shot at profit making than Bitcoin, its not easy to flip the marketcap of Bitcoin but its easier to have 2x to 100x on an altcoin as most of the altcoins are undervalued owing to their development and traction being at the very low points.

The fact that you can flip your investment within a shorter time frame attracts you to such projects and getting in on such coins at a very early stage even gives you more advantage, more reason why investors and VCs are always on the lookout for such projects.

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The question is, are altcoins bad? I noticed that others here in the forum mostly have a bad view of altcoins. Yes, I have been there who use altcons most of the time for bad purposes or motives; the same goes for meme coins and NFTs, but it's not right as if we all see them as bad.

There are others here who are just reminding themselves, but the judgment is speaking in general terms, even if they can't determine what it is or how it became bad or risky. After all, altcoins, NFTs, and meme coins have contributed a lot to the cryptocurrency business industry.

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Quote from: Mame89 on November 07, 2023, 04:38:15 PM

Quote from: DaNNy001 on November 04, 2023, 04:43:26 AM

Everyone in the crypto space will be well aware of how Bitcoin is superior to altcoins but the fact still remains that altcoins are also important because not everyone do invest in Bitcoin as some people see altcoins as a means of gathering more profits if you hit the right one that pumps immensely but be aware that the negative effect of these altcoins is that they pump very fast along Bitcoin but dumps extremely faster and this can lead to loss of asset so there is always need for caution when acquiring one.

It cannot be denied that Bitcoin is better than altcoins, and certainly altcoins are also a complement to bitcoin. Altcoins are not always bad to invest in, some altcoins actually have strong fundamentals and many even make profits from altcoins in a short time, although there are also those who can experience significant losses from altcoins.

But what is certain is that before investing in altcoins, always do independent research to minimize losses. In my opinion, the difference between altcoins and bitcoins is only one, there is no need to worry too much about saving bitcoins, but when you win altcoins, your heart races, especially new altcoins.

LoL, your heart really races indeed because for every moment that passes you will be in shocked and scared on what might be the sole outcome of the results of your investment on the particular choice of altcoins you deem fit for your investment. I wouldn't argue with you that some altcoins are good for investment but the issue is that how can one identify such altcoins that wouldn't cause or put you through such stress when investing in them.

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Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

I don't see reason to buy altcoin except it has an advantageous futures. It might be ok for you but when I did mine, I almost loss %90.
I would have made more profit if I had invested in bitcoin than altcoin. Although it seams there are pretty cool altcoin which can be profitable. Just that I had no idea to spot the difference that's what make me to invest huge money on them.

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Quote from: DaNNy001 on November 04, 2023, 04:43:26 AM

Everyone in the crypto space will be well aware of how Bitcoin is superior to altcoins but the fact still remains that altcoins are also important because not everyone do invest in Bitcoin as some people see altcoins as a means of gathering more profits if you hit the right one that pumps immensely but be aware that the negative effect of these altcoins is that they pump very fast along Bitcoin but dumps extremely faster and this can lead to loss of asset so there is always need for caution when acquiring one.

It cannot be denied that Bitcoin is better than altcoins, and certainly altcoins are also a complement to bitcoin. Altcoins are not always bad to invest in, some altcoins actually have strong fundamentals and many even make profits from altcoins in a short time, although there are also those who can experience significant losses from altcoins.

But what is certain is that before investing in altcoins, always do independent research to minimize losses. In my opinion, the difference between altcoins and bitcoins is only one, there is no need to worry too much about saving bitcoins, but when you win altcoins, your heart races, especially new altcoins.

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Quote from: batang_bitcoin on November 05, 2023, 03:09:35 PM

Everyone's key isn't about supporting an altcoin but it's all about money, profit. And the end game with this type of strategy is to make your profits more valuable by reinvesting them into Bitcoin. That's what I have done for several times and I have never regret. For some reason, the things that I have regret was to ignore a lot of altcoins that I didn't believed because I think they're crap. However, this market just proved that even if a project is crap as long as there are investors and traders contribute to its liquidity, the value of it will still have a way to increase.

In crypto world, people just investing in altcoins for make good money and we all Know that everyone do same thing. Some people use this strategy like first invest in altcoins and gain big profit from these altcoins and then reinvest in Bitcoin after getting benefits which is much profitable. Such altcoins in crypto world has low potential and but their price will be pump highly when people invest in such altcoins we are all know that these altcoins have no future investing in them would be loss but sometimes these altcoins make us millionaire.

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Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

I don't see this as the best solution especially for those who wants to invest in the long term it's only better for Short time and sometimes this could be very risky because in the Short term you experience so much volatility but in the long term you have controable risk with volatility. Sometimes you could buy the dip and price falls below the price at which you bought so I don't think it's the best idea.

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Quote from: Spaceman1000$ on November 06, 2023, 03:00:41 PM

Quote from: Fuso.hp on July 25, 2023, 08:44:32 AM

By far the most scammed is ALT Coin. Still people are more interested in investing in these coins. While ALT coins are scams, there are some coins that are exceptions. I can only trust BNB for investment, I don't trust the rest of the coins that are out there. If there is any coin worth investing in for the long term after Bitcoin, it is BNB. Other coins are also good for investment but they are for short term for trading we can use ALT coins but for long term investment I will never choose other ALT coins.

Of course there are some altcoin that are scams, there are actually new launch coins that have potentials, that can stand the test of time if given the necessary time they needed to get a breakthrough within the market.
in as much as there are fraudulent coins out there, there are Also a lot of them that have potentials, you just have to look critically.

and the ratio might be 100:1 ironic but it's close to possibility as there are many new altcoins that being offered and created by someone which
introducing the same concept or a clear copy of existing project that hope to attract investors.

But if you are patient enough you might find good and quality project that can stand with the test of time and bring you decent amount of benefits.

It's more on how you deal with your research and how you believe with the intentions of the developers.

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Quote from: Spaceman1000$ on November 06, 2023, 03:00:41 PM

Quote from: Fuso.hp on July 25, 2023, 08:44:32 AM

By far the most scammed is ALT Coin. Still people are more interested in investing in these coins. While ALT coins are scams, there are some coins that are exceptions. I can only trust BNB for investment, I don't trust the rest of the coins that are out there. If there is any coin worth investing in for the long term after Bitcoin, it is BNB. Other coins are also good for investment but they are for short term for trading we can use ALT coins but for long term investment I will never choose other ALT coins.

Of course there are some altcoin that are scams, there are actually new launch coins that have potentials, that can stand the test of time if given the necessary time they needed to get a breakthrough within the market.
in as much as there are fraudulent coins out there, there are Also a lot of them that have potentials, you just have to look critically.

I agree. There are altcoins that have stood the test of time, and still hold massive potential for future breakthroughs. Usually when talking about dis, I like to use BNB and BGB as examples- two alts that belong to two thriving CEXs. While BNB is higher in price atm, BGB certainly has shocked users this year with its meteoric rise and solid maintenance of decent price levels. Still currently stands not too far below it's ath if I'm not mistaken.

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Quote from: Fuso.hp on July 25, 2023, 08:44:32 AM

By far the most scammed is ALT Coin. Still people are more interested in investing in these coins. While ALT coins are scams, there are some coins that are exceptions. I can only trust BNB for investment, I don't trust the rest of the coins that are out there. If there is any coin worth investing in for the long term after Bitcoin, it is BNB. Other coins are also good for investment but they are for short term for trading we can use ALT coins but for long term investment I will never choose other ALT coins.

Of course there are some altcoin that are scams, there are actually new launch coins that have potentials, that can stand the test of time if given the necessary time they needed to get a breakthrough within the market.
in as much as there are fraudulent coins out there, there are Also a lot of them that have potentials, you just have to look critically.

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To my own opinion altcoins are important because, without them Bitcoin would still be seen as a scam project that was build anonymously to bankrupt some of its users who did all their investment in it, op you made a good point on the fact that I'll give credit to altcoin because they might be good for trading or short term investment, but on the other hand some that seem promising might end up crashing to the ground thus taking all investment to the trench. While some altcoin seem promising the rest of them are just there to reduce their reputation, and this is one of the major reason they are hated by their victims and bitcoiners. I don't do altcoins but it fun knowing that some of them are legit, and can be trusted.

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Quote from: Sophokles on November 05, 2023, 04:04:32 PM

Altcoin is full of scam but still people want to invest in it. Why are they doing this? Altcoin is super risky but super rewarding too. You can make 100X to 1000X if you are extremely lucky with a single project. This you can not do with bitcoin. Bitcoin can give you a maximum 5x to 7x ROI in a bull season. This return is relatively small but the risk you are taking is low compared to the altcoins that can give you 100X. Finding such an altcoin is like gambling with your money.

It is true that many altcoins are scams. But the fact, there are some good altcoins as well. So, we can't say that altcoins is full of scams, dude. Wink

Sure, altcoins is quite risky, specifically for new altcoins. That's why many people prefer to invest in old altcoins only, mostly choose the top altcoins. Investing in old altcoins or top altcoins may have less chance for gaining profits 100x or even 1000x, they won't increase very extremely like new altcoins. But we can trust them because they already prove us that they can survive for years. For people who care about the safety in their investment, I assume they will prefer to invest in old/top altcoins than investing in new altcoins.

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Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?

Not everyone does invest in altcoin because of the risk involved in it. People do lose interest in altcoin because of the high chance of losing money. I prefer investing in bitcoin. Bitcoin investment is safer than investing in altcoins. You can lose your money in altcoins at any moment. Lots of altcoins have disappointed people previously, and they are still going to disappoint people in the future. Nobody knows the next altcoin that is going to crash, so it’s better we are careful when investing in altcoin, but to me, bitcoin is just the safest.

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Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

Altcoin is full of scam but still people want to invest in it. Why are they doing this? Altcoin is super risky but super rewarding too. You can make 100X to 1000X if you are extremely lucky with a single project. This you can not do with bitcoin. Bitcoin can give you a maximum 5x to 7x ROI in a bull season. This return is relatively small but the risk you are taking is low compared to the altcoins that can give you 100X. Finding such an altcoin is like gambling with your money.

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Quote from: woez on November 05, 2023, 11:07:57 AM

Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

Your opinion is not wrong and it is very normal. Another reason why altcoints are considered important is that they are always more tempting than buying BTC. BTC is still not affordable, aka it's a bit expensive, so those who can afford it are altcoins. The target is simple, look for prices that are still very low while waiting for the BTC reversal. Usually, if BTC is at its peak at a certain time, there will be many speculators who sell BTC to buy altcoints.

Actually it is just a classic reason that always exists when saying that bitcoin cannot be reached because the price is too high even though in this case we when investing are not always required to buy 1 bitcoin or more at once because this is only based back on the ability we have to buy it's just that many people always say bitcoin is too high to buy just to justify the reason that they want altcoins as a form of investment made.

Even though it is not wrong because in the end the big profit is what is wanted and it is possible with altcoins they can get that but in this case we also need to know the risks because in the end we also cannot rule it out. The risk of altcoins will still be greater than bitcoin so that when we already know that, we will be wiser in determining where we will be.

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Everyone's key isn't about supporting an altcoin but it's all about money, profit. And the end game with this type of strategy is to make your profits more valuable by reinvesting them into Bitcoin. That's what I have done for several times and I have never regret. For some reason, the things that I have regret was to ignore a lot of altcoins that I didn't believed because I think they're crap. However, this market just proved that even if a project is crap as long as there are investors and traders contribute to its liquidity, the value of it will still have a way to increase.

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Quote from: woez on November 05, 2023, 11:07:57 AM

Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

Your opinion is not wrong and it is very normal. Another reason why altcoints are considered important is that they are always more tempting than buying BTC. BTC is still not affordable, aka it's a bit expensive, so those who can afford it are altcoins. The target is simple, look for prices that are still very low while waiting for the BTC reversal. Usually, if BTC is at its peak at a certain time, there will be many speculators who sell BTC to buy altcoints.

What you meant to say is that altcoins are important because they can make a profit, much more than bitcoin can. But altcoins are always a risk if we are talking about little known projects. But I think that altcoins are important because they create competition in the market. Every year there are more and more advanced blockchains and that's a good thing.

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