Why are altcoins important? - page 14.

QueenVera

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Quote from: Rampagoe004 on July 16, 2023, 02:25:31 AM

Altcoins become important as a new development breakthrough for cryptocurrencies. Currently there are altcoins that can be an "alternative" to Bitcoin and have good features such as ADA, BNB, CRO or MATIC. There are many things that can be implemented from ALtcoins.
And on the other hand, sometimes people collect altcoins to get wealth faster and more because we already know that apart from Bitcoin there are many good altcoins that can be many times their initial price.

All the altcoins you mentioned can't be an alternative to Bitcoin, BNB is a nice coin to invest into but not as an alternate to bitcoin instead you should invest in it because it has big potential as it just had a recent burn of circulating supply which will help the token to increase to new prices when the bull market starts officially, BNB is one of the good altcoins to invest into.
BNB is controlled by Binance exchange and although they said their blockchain is decentralized but we all know that's a lie because if there was to be an attack on a project on their blockchain. They'll do everything possible to prevent the hackers from been successful and that might include halting the blockchain. And only centralized blockchain can be paused because they're been controlled so don't think BNB is fully decentralized.
Altcoins create wealth but they also destroy wealth when you invest in the wrong projects or you made investment in scams that you didn't realized were scam as of when you were investing. We have many scams as scammers know investors are looking for quick ways to make money and deceiving them to think they have found solution can make them much profits through scams.

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Quote from: timoshani on July 17, 2023, 03:23:31 PM

You can also invest in an NFT project, which can also be profitable. But the named lucky ones in trade are 0.5-1% of all crypto traders. The rest will not be able to trade such an amount for several tens of thousands of trading operations.

NFT to much risky and many people lost money investing in NFTs and it is hard to say if they will be able to restore their loses. I thin that it is better to invest in Ethereum to have less risk. Now it is a good time for investment and many people are waiting for the rise of the market and Ethereum will rise too.

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Quote from: Xal0lex on July 17, 2023, 11:12:46 AM

Quote from: jaberwock on July 17, 2023, 12:23:30 AM

Quote from: Xal0lex on July 11, 2023, 01:21:57 PM

What attracts people to altcoins is their generosity when it comes to spending their time in exchange for tokens or investing $100 and getting $10,000 in profit. In this respect, altcoins are much better than bitcoin and that's why they attract a huge number of users. In cryptocurrency people, in the main, come for earnings. It is quite difficult to make money with bitcoin, it is slow and expensive in terms of growth potential. Altcoins are more flexible in this respect and are more suitable for all kinds of speculation and quick enrichment.

I do not think that it would be common to make that type of profit, and it is rare for anyone to get that type of return as well. Not only we have very few tokens that go up like that, we also have very few people that get in at the bottom and get out at the top like that as well.

So all in all the reason is not that because people make that type of profit differently, and it is not going to be easy neither, we are not going to end up with a terrible situation, it's going to end up a bit different. Of course this is going to end up with a bit of trouble but at the end of the day you could still do that and I believe that's what people like in this situation, they like that there is a potential of making that kind of return.

I agree with you that a very small percentage of investors can make a profit of $10,000 with a deposit of only $100. But it is worth considering that it is impossible to get such profit in bitcoin, unless you are engaged in trading or margin trading. You can get such profit in altcoin sector by participating in various activities, such as retrodrops or testnet. The chance is minimal, but it is there.

You can also invest in an NFT project, which can also be profitable. But the named lucky ones in trade are 0.5-1% of all crypto traders. The rest will not be able to trade such an amount for several tens of thousands of trading operations.

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Quote from: petulino on July 16, 2023, 11:17:29 AM

Quote from: KingsDen on July 16, 2023, 03:29:09 AM

I am not skilled about altcoin investment but I wish to have little experience to do some kind of portfolio diversification. All I do is bitcoin long term investment and it gives me peace of mind because I wouldn't need to be checking bitcoin everytime nor do I need to close monitor my portfolio.

There is no doubt that Bitcoin is the king of all crypto currency markets. Most of the people who have good capital invest in Bitcoin, and for the long term it is a good investment. I think investment in altcoin is a good option for people who have less capital. Where with less investment they can earn a good profit. According to my opinion those who have more capital should invest in small coins along with Bitcoin, because this way you can increase your profit rate. There are many good projects in the market right now where you can choose good coins after research. So altcoins should not be ignored. There are many coins that have the potential to give a good profit in the future.

Having a much lesser capital is actually not a problem as everything have a start, the important thing is that you made a research before investing to your preferred coin because in this way, even if the profits is not guaranteed, your risks are minimized as you have studied it well and choose the right coin which will give you the profits that you wanted while only engaging in a much lesser risks. But if you're that someone who is looking for a short term investment or do have a small capital, I agree that altcoin section will be more suited for you.

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Quote from: TastyChillySauce00 on July 13, 2023, 12:17:21 PM

Altcoins being used mostly for speculation purpose. The fact that if altcoin is also having another usefulness like give native coin user a cheap way to send their money. I remind you how expensive the bitcoin and ethereum transactions are. That's why altcoin gives alternative way for people to send or receive their money with lesser fees compared used native blockchain like bitcoin or ethereum.

They're all experimental grounds meant to test the Blockchain's capabilities/limitations. Without them, BTC would've been full of issues by now. I know BTC maximalists prefer to have only one Blockchain, but this simply can't be done. Especially when you need to meet the demands of everyday users. If you scale BTC to the masses, it would become extremely-centralized.

That's where altcoins come in. They're cheap, fast, and full of new and untested features. Most people don't care about the tech, as they're only focused on the profits. While altcoins bring huge profit opportunities, they can also go all the way down the drain in an instant. With BTC, there's less risk involved. Crypto is just getting started, so expect to see more altcoins emerge in the future. Just my thoughts Grin

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Quote from: jaberwock on July 17, 2023, 12:23:30 AM

Quote from: Xal0lex on July 11, 2023, 01:21:57 PM

What attracts people to altcoins is their generosity when it comes to spending their time in exchange for tokens or investing $100 and getting $10,000 in profit. In this respect, altcoins are much better than bitcoin and that's why they attract a huge number of users. In cryptocurrency people, in the main, come for earnings. It is quite difficult to make money with bitcoin, it is slow and expensive in terms of growth potential. Altcoins are more flexible in this respect and are more suitable for all kinds of speculation and quick enrichment.

I do not think that it would be common to make that type of profit, and it is rare for anyone to get that type of return as well. Not only we have very few tokens that go up like that, we also have very few people that get in at the bottom and get out at the top like that as well.

So all in all the reason is not that because people make that type of profit differently, and it is not going to be easy neither, we are not going to end up with a terrible situation, it's going to end up a bit different. Of course this is going to end up with a bit of trouble but at the end of the day you could still do that and I believe that's what people like in this situation, they like that there is a potential of making that kind of return.

I agree with you that a very small percentage of investors can make a profit of $10,000 with a deposit of only $100. But it is worth considering that it is impossible to get such profit in bitcoin, unless you are engaged in trading or margin trading. You can get such profit in altcoin sector by participating in various activities, such as retrodrops or testnet. The chance is minimal, but it is there.

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Quote from: jaberwock on July 17, 2023, 12:23:30 AM

I do not think that it would be common to make that type of profit, and it is rare for anyone to get that type of return as well. Not only we have very few tokens that go up like that, we also have very few people that get in at the bottom and get out at the top like that as well.

So all in all the reason is not that because people make that type of profit differently, and it is not going to be easy neither, we are not going to end up with a terrible situation, it's going to end up a bit different. Of course this is going to end up with a bit of trouble but at the end of the day you could still do that and I believe that's what people like in this situation, they like that there is a potential of making that kind of return.

There are so much scams and different kinds of fraud among altcoins. The most important is to check everything befor investing to evaluate the future potential of the coin. Not all the coins will be able to surve. That is why it is important to check how useful this altcoin is to evaluate its future potential and its demand in the future.

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Quote from: Xal0lex on July 11, 2023, 01:21:57 PM

Quote from: Jocuserious on July 04, 2023, 05:08:03 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?

What attracts people to altcoins is their generosity when it comes to spending their time in exchange for tokens or investing $100 and getting $10,000 in profit. In this respect, altcoins are much better than bitcoin and that's why they attract a huge number of users. In cryptocurrency people, in the main, come for earnings. It is quite difficult to make money with bitcoin, it is slow and expensive in terms of growth potential. Altcoins are more flexible in this respect and are more suitable for all kinds of speculation and quick enrichment.

I do not think that it would be common to make that type of profit, and it is rare for anyone to get that type of return as well. Not only we have very few tokens that go up like that, we also have very few people that get in at the bottom and get out at the top like that as well.

So all in all the reason is not that because people make that type of profit differently, and it is not going to be easy neither, we are not going to end up with a terrible situation, it's going to end up a bit different. Of course this is going to end up with a bit of trouble but at the end of the day you could still do that and I believe that's what people like in this situation, they like that there is a potential of making that kind of return.

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Quote from: KingsDen on July 16, 2023, 03:29:09 AM

I am not skilled about altcoin investment but I wish to have little experience to do some kind of portfolio diversification. All I do is bitcoin long term investment and it gives me peace of mind because I wouldn't need to be checking bitcoin everytime nor do I need to close monitor my portfolio.

There is no doubt that Bitcoin is the king of all crypto currency markets. Most of the people who have good capital invest in Bitcoin, and for the long term it is a good investment. I think investment in altcoin is a good option for people who have less capital. Where with less investment they can earn a good profit. According to my opinion those who have more capital should invest in small coins along with Bitcoin, because this way you can increase your profit rate. There are many good projects in the market right now where you can choose good coins after research. So altcoins should not be ignored. There are many coins that have the potential to give a good profit in the future.

waONE

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Quote from: KingsDen on July 16, 2023, 03:29:09 AM

Quote from: Coyster on July 04, 2023, 05:37:53 PM

Quote from: Jocuserious on July 04, 2023, 05:08:03 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?

Well, altcoins are definitely important to quite a lot of people, but definitely not me, i don't like short term projects, neither do i like to gamble, and these are both peculiar to altcoin investments. I know altcoin investors might disagree, but altcoins are basically risky pump and dump coins with no actual utility. Having said that, i invest in Bitcoin over altcoins because it has an actual utility and i am pretty certain that it is sustainable for the long term, that's the difference to most altcoins that survive only on hype and nothing else.

It's all about individual preferences and choices of investment. Some people are so skilled about altcoin investment such that they know when to enter the market and when to exit. While some do not even understand how the altcoin market works and when to enter or exit the market.

I am not skilled about altcoin investment but I wish to have little experience to do some kind of portfolio diversification. All I do is bitcoin long term investment and it gives me peace of mind because I wouldn't need to be checking bitcoin everytime nor do I need to close monitor my portfolio.

It was a good decision to diversify the portfolio and let us not just focus on one coin,
everyone certainly has their own preference and it can not be separated from the experience that has been passed,
for long term investment the safe choice is definitely on the top coins.

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Quote from: Coyster on July 04, 2023, 05:37:53 PM

Quote from: Jocuserious on July 04, 2023, 05:08:03 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?

Well, altcoins are definitely important to quite a lot of people, but definitely not me, i don't like short term projects, neither do i like to gamble, and these are both peculiar to altcoin investments. I know altcoin investors might disagree, but altcoins are basically risky pump and dump coins with no actual utility. Having said that, i invest in Bitcoin over altcoins because it has an actual utility and i am pretty certain that it is sustainable for the long term, that's the difference to most altcoins that survive only on hype and nothing else.

It's all about individual preferences and choices of investment. Some people are so skilled about altcoin investment such that they know when to enter the market and when to exit. While some do not even understand how the altcoin market works and when to enter or exit the market.

I am not skilled about altcoin investment but I wish to have little experience to do some kind of portfolio diversification. All I do is bitcoin long term investment and it gives me peace of mind because I wouldn't need to be checking bitcoin everytime nor do I need to close monitor my portfolio.

Rampagoe004

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Altcoins become important as a new development breakthrough for cryptocurrencies. Currently there are altcoins that can be an "alternative" to Bitcoin and have good features such as ADA, BNB, CRO or MATIC. There are many things that can be implemented from ALtcoins.
And on the other hand, sometimes people collect altcoins to get wealth faster and more because we already know that apart from Bitcoin there are many good altcoins that can be many times their initial price.

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Quote from: Jocuserious on July 04, 2023, 05:08:03 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?

Greed. People look at altcoins as a way to "get in early". Mostly people who missed the beginning of bitcoin and thinking lightning will strike twice. A small fraction of people who put theor money into altcoins actually believe in the project. It's pretty simple, gambling and greed fuel the alt market.

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Quote from: Jocuserious on July 14, 2023, 01:18:45 PM

Quote from: jasonjm on July 13, 2023, 11:15:45 AM

Altcoins are the best source to earn huge profits because when a new altcoin launches, it usually pumped over 100%, with few exceptions. You can earn a profit in a limited time frame. Furthermore, the technology they are using and the innovation they are providing to the market is top-notch. Some are very good projects in terms of technology, for example, ETH, SOLANA, DOGE, XRP, etc.

Not all project may have good production sector and almost most of the new project are scams. Moreover, new projects are very risky at this time because meme coins are now available for new projects. You should have an awareness of where and why you are investing. Also how you will get profit from those projects.

You nailed it, it's always a must in knowing the reason why you are investing with the project as we all know that meme projects
are circulating around and most of the time it's being hyped.

You need to be very careful in finding and sorting the project that you are planning to use for the sake of your investment. There are many
available project that you can review.

Always take time to find the best reason on why you will risk your money and how the developing team will earn that
trust for you to wait for a potential good outcome.

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Quote from: jasonjm on July 13, 2023, 11:15:45 AM

Altcoins are the best source to earn huge profits because when a new altcoin launches, it usually pumped over 100%, with few exceptions. You can earn a profit in a limited time frame. Furthermore, the technology they are using and the innovation they are providing to the market is top-notch. Some are very good projects in terms of technology, for example, ETH, SOLANA, DOGE, XRP, etc.

Not all project may have good production sector and almost most of the new project are scams. Moreover, new projects are very risky at this time because meme coins are now available for new projects. You should have an awareness of where and why you are investing. Also how you will get profit from those projects.

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Quote from: sana54210 on July 14, 2023, 01:06:10 PM

Quote from: jasonjm on July 13, 2023, 11:15:45 AM

Altcoins are the best source to earn huge profits because when a new altcoin launches, it usually pumped over 100%, with few exceptions. You can earn a profit in a limited time frame. Furthermore, the technology they are using and the innovation they are providing to the market is top-notch. Some are very good projects in terms of technology, for example, ETH, SOLANA, DOGE, XRP, etc.

I am not sure about what to do with this, it is not going to end up being anything good at all. I feel like we should not be considering the situation that bad. The truth is that we won't be seeing the alts go up a ton without bitcoin so it is all about having bitcoin increasing at first and there are tons of shorts and getting bigger nowadays.

Of course the price could go up a lot and break all those shorts to make some good return as well, but there is no guarantee on that at all, we can't really expect it to change anytime soon. We need to make sure that it is not like that between whales, we can't have a fight between shorts and longs because in the end if we are wrong then they will fight one way or another while hurting us.

In my opinion, Altcoins are important because they provide opportunities for potential profits and offer innovative technologies to the market. While the market situation may seem uncertain, it's crucial to consider the role of altcoins alongside Bitcoin. Bitcoin's performance often influences the overall market, and altcoins can experience significant gains when Bitcoin rises. However, it's important to note that the market is unpredictable, and there are risks involved. Balancing long and short positions is essential, and understanding market dynamics is crucial for making informed investment decisions. Stay updated and be mindful of the interactions between different players in the market

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Quote from: jasonjm on July 13, 2023, 11:15:45 AM

Altcoins are the best source to earn huge profits because when a new altcoin launches, it usually pumped over 100%, with few exceptions. You can earn a profit in a limited time frame. Furthermore, the technology they are using and the innovation they are providing to the market is top-notch. Some are very good projects in terms of technology, for example, ETH, SOLANA, DOGE, XRP, etc.

I am not sure about what to do with this, it is not going to end up being anything good at all. I feel like we should not be considering the situation that bad. The truth is that we won't be seeing the alts go up a ton without bitcoin so it is all about having bitcoin increasing at first and there are tons of shorts and getting bigger nowadays.

Of course the price could go up a lot and break all those shorts to make some good return as well, but there is no guarantee on that at all, we can't really expect it to change anytime soon. We need to make sure that it is not like that between whales, we can't have a fight between shorts and longs because in the end if we are wrong then they will fight one way or another while hurting us.

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Quote from: jasonjm on July 13, 2023, 11:15:45 AM

Altcoins are the best source to earn huge profits because when a new altcoin launches, it usually pumped over 100%, with few exceptions. You can earn a profit in a limited time frame. Furthermore, the technology they are using and the innovation they are providing to the market is top-notch. Some are very good projects in terms of technology, for example, ETH, SOLANA, DOGE, XRP, etc.

Altcoins being used mostly for speculation purpose. The fact that if altcoin is also having another usefulness like give native coin user a cheap way to send their money. I remind you how expensive the bitcoin and ethereum transactions are. That's why altcoin gives alternative way for people to send or receive their money with lesser fees compared used native blockchain like bitcoin or ethereum.

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Altcoins are the best source to earn huge profits because when a new altcoin launches, it usually pumped over 100%, with few exceptions. You can earn a profit in a limited time frame. Furthermore, the technology they are using and the innovation they are providing to the market is top-notch. Some are very good projects in terms of technology, for example, ETH, SOLANA, DOGE, XRP, etc.

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Quote from: Jocuserious on July 04, 2023, 05:08:03 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?

People are buying because there see an opportunity in altcoins to earn a profit. But unfortunately, it wasn't all of them are worth investing and you are right, scam projects are flooded in the market, and only a few of them have the potential. And this is a challenge to many investors, especially for newcomers as they usually fall into wrong/scam projects.

And to the question about importance? Altcoins are part of the crypto journey and this also helps to spread awareness and market development. Sadly, this is also the reason why many people had lose their money due to scams and useless projects.

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