Topic: Why are altcoins important? - page 12. (Read 2828 times)

I think, to maximize profits in the crypto market, it is crucial to prioritize investing in important altcoins. Not only can investors benefit from altcoins, but many traders have also experienced significant gains through them. With numerous top altcoins available in the market, it becomes evident that altcoins hold great significance for crypto users.

Although many altcoins end up as scams or scams. But altcoins have always had their own charm to attract investors. Because even though altcoins are indeed centralized and the liquidity of the altcoins purchased can be taken by the creators of the coins. But as far as I know, there are also many investors who have big profits from trading altcoins. Because altcoins sometimes experience market price increases of more than 100%, or commonly called pumping. So that's why there are always many investors in crypto who want to buy and trade or invest in altcoins.
Yes, I agree with your opinion OP. I personally also sometimes do techniques like that. Because the technique you suggest is a technique that is commonly used by crypto traders, when trading in the short term. But besides the techniques you mentioned, to be safer when investing or trading in altcoins, it's better to buy altcoins that have a top 10 or 15 rating. Because in terms of quality, in terms of trust and in terms of security it will definitely be better. And besides that, if you buy altcoins that are ranked below the top 15, even if we want to do hodl, it will be safer. But even so, all of that cannot guarantee absolutely certain security, because as we know altcoins are centralized. So basically, if you want to start investing or trading in crypto, never be careless and have to learn all the knowledge first. In order to minimize losses that might befall.

So many mainstream medias recommending altcoins because they offer 5x profit from your initial investments and solely they are looking forward to invest in altcoins just for the profit and money.
So does with the developers as well, they also want money so you can see most of the new altcoins out there are just similar and they bring nothing new to the crypto world and after that it's their time to scam you and run away.

It's easier to said than done, yet so many people struggles to find the "best" price to invest until today.

I don't really understand about "blocked coins" you mean here. But if an altcoins looks too risky and have weak fundamentals, kindly avoid to invest in them. There are too many altcoins, why we must risk our money too unconvincing altcoins. You must be aware that most people only suggest to invest in top altcoins only (those altcoins with strong fundamentals and have high market caps). Ethereum is one of the altcoins with a strong fundamentals and it has the highest market caps on an altcoin.

Anyway, what do you mean by "search costs"?  

Those coins that are created other than Bitcoins, they are called as altcoins. So, we can imagine ourselves how many altcoins existed so far.

Since altcoins are more volatile than Bitcoin, surely altcoins are riskier. But its higher volatility makes them to have a potential of bigger profits. It is actually the reason why people wants to invest in altcoins.

Market development had to keep going, many experiments had come on and so many new projects have been born as well. But it was not the thing we need here in the crypto space in order to become known and functional because what we need is a project that will help to improve and very helpful to the community, not these projects that only will ruin the crypto market.
What I mean is that we only need a few coins that represent crypto. We have plenty of it now and we don't need more but developers still making more and it become a scam. We're not making good but instead, we are getting worse.

Cryptocurrency market is a something that has to set target to sell, while holding on the alt-coins, because every entry point of buying is important for profit returns investment or trading, so have to set up a good strategy and is important in alt-coins.

In cryptocurrency, you need to take into account all the risks and be prepared for certain consequences. Let's be honest, many people, when faced with some stories of blocking and scams, think that this will definitely not happen to them and they will be smarter and more cunning in such situations. Can this behavior be considered self-deception or complacency, when you can't know for sure whose coins might be blocked next time? It is impossible to be 100% prepared for this, as we don't know the whole methodology of blocking, but you should always be ready for it. These are cryptocurrencies, anything can happen here and to anyone.

Usually it was the Bitcoin who can affect the altcoin the most, not the other way around. Before a new altcoin is released, developers needs to test it first or they can do an experiment but after it, they can deploy the project in its final state. Bitcoin is already a finished product so they can't experiment on it anymore but I heard that some experts are experimenting something which can then be used in Bitcoin to make Bitcoin more functional.

It sounds interesting and if it's a success, it could surely attract more people in Bitcoin. Not all new altcoins are useful but many of them are only a scam. They only bring negative changes in the market.

In the past 5-7 years, I have encountered various types of market movements and have had quite a few unpleasant experiences. My perspective is that one should focus on trading the coins with a good trading volume and always maintain control over greed. Setting excessively ambitious targets should be avoided. It's better to set achievable targets that reduce your risk factor and increase the chances of profit, and if we hold onto coins for a longer period, especially during a bear market, it can be advantageous. Bear markets offer more opportunities compared to bull markets. In conclusion, it's advisable not to engage in extensive long-term planning. Instead, a short-term approach to buying and selling should be adopted. For the long term, Bitcoin and Ethereum are suitable, while other coins are better suited for short-term goals. Altcoins become significant because they are more affordable than BTC and tend to have higher returns on investment in the short term, although they come with increased risk. Nevertheless, many people rely on Altcoins for trading, aligning with their financial capacity.

I agree with your opinion which is to buy cheap and sell it quickly when it feels profitable.  however this only applies to new coins mate.  but if you invest in the top 5 coins, long-term investment will be very profitable

All altcoins are a big risk. Even bitcoin is a risky investment. If you buy it at the wrong time, for example before a bear market starts, you will have to wait for years to get your investment back. And it is not certain that you will be able to do it. You will also spend a lot of nerves knowing that your deposit is negative. But if you guessed the right time to buy, it can bring you a good profit.

Should ordinary users be afraid of blocked coins?  Will the developers bother to search for people who have, say, 0.5 ether coins? Is there some reasonable value between the search costs and the amount of coins on the wallet?

I don't see ETH becoming a scam due to increased centralization, rather it will become more controlled and subject to regulators. This would result in the end user having their coins censored and blocked at any time for political or other reasons. This is definitely not good for cryptocurrencies in terms of their fundamental properties. For speculators and traders it will not turn into anything, they don't care what they trade with, no matter if it is centralized or decentralized coin. The main thing is to have volatility.

I'm sure altcoins will have no effect on the bitcoin price. For me, altcoins are like a kind of testing ground for experiments. Each new altcoin created brings positive changes.

in my view Altcoins can influence the broader market dynamics of cryptocurrencies. Changes in the value, popularity, or technology of altcoins can impact market sentiment and even affect Bitcoin's price. Additionally, altcoins provide alternative trading opportunities for cryptocurrency traders.

Calling it a “scam” based on these advancements? Thats a hasty and uninformed judgment.

You glorify Bitcoin - and yes, its decentralized and has paved the way. But let's not forget that Bitcoin too has its flaws, primarily in scalability and energy consumption. And while Bitcoin has a storied history, dont get too trapped in nostalgia.

About altcoins: lumping them all as "extremely unpredictable" is a lazy perspective. Like any investment market, there are gems and duds. It's about doing rigorous research. And really? Dogecoin? A meme coin with unlimited supply and minimal development as your "established" example?

Altcoins are extremely important, they're part of why the crypto currency market is still up and moving. Personally, I'm more inclined to investing in altcoins. Interestingly, with the launch of $SEI mainnet coming up, there'll be a lot of altcoins to choose from. Good thing is, upon the token's launch, you can deposit some of it on Bitget to earn from an over 10K prize pool.

ETH is turning centralized, so yes, there's a high probability it will become a scam in the future. I'd say there's no altcoin you can trust these days due to their extremely-unpredictable nature. If there's only one coin I'd trust, that would be Bitcoin. It's the original cryptocurrency that started it all with a proven track record of development and innovation. With decentralization at its focus, I believe BTC will last for generations.

If you're still considering getting into altcoins, I'd suggest you diversify your investment as much as possible. This will allow you to minimize risks of loss if something unexpected happens in the long run. I usually aim for coins with active development and innovation and some old ones with an established presence in the crypto/Blockchain space (eg: Litecoin, Dogecoin). Play your cards right, and who knows? Maybe you'll get lucky and strike it rich in the future. As long as you don't investment more than what you can't afford to lose, there should be nothing to worry about. Just my opinion

Even you don't like it,there are still a lot of community are willing to take risk to use their investment capital for it. Because whether we admit it or not there are many of the community here became rich because of altcoins, just like what happened before to Doge, Shib, and the latest one was Pepe coin.

And others got huge profit coming from the airdrops just like what happened to arbitrum,, and uniswap, you see the my point?

The Fed has done that to reduce the circulation of money which resulted in inflation in a few months this year aggressively so as to suck up the circulation of money in the community, as well as other countries doing the same thing this year danced the money they have distributed to handle covid and support The need for that time, is it possible for a recession storm, I don't think it will happen if its position has improved like now.
At the weekend last month, the Fed also raised flowers, so I thought the recession was not the time of today.

But in the case of rich people who prefer to save their money in a bank, it might have an impact on the economy that makes it a recession, but I think the increase will not be long after all of them are stable, I understand very well why the economy will become stagnant, because work productivity is very little at Because there is no money to pay to pay for people to work, because they prefer to invest in comparison to play money in the real business world.

The probability of recession may be seen if this continues to happen, and makes the Crypto Currency market be exposed to its stages because people divert their money to their cash funds from the Crypto market to cover their needs.
I think that it is very important that there is one Crypto coin carrying new millionaires so that bank investors glance more at Crypto rather than storing it in the bank, Altcoin may be easier to move in this case so that it makes it important.