Topic: Why are altcoins important? - page 14. (Read 3293 times)

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.

Basically, talking about altcoin important or not depend with how much fund we have when trading in cryptocurrency, difficult to earn much profit for trading in Bitcoin with small fund but different thing if low budget and use for investing in altcoin because price up and down drastically. I think as small fund for trading that reason why altcoins is most important part in cryptocurrency. For bigger fund there are not spent their investing with altcoin because know bigger risk when price dropping almost difficult back to higher price, but for low fund its interested when price drop buy back at altcoin and earn more profitable than bitcoin investment.

Altcoin is the best investment with high return although has high risk, but we must smart when choosing which one profitable altcoin for trading or investing as short or long term.

Basically recession, the global world has printed way too much money, which resulted with high inflation due to printing of money, and because we can't have high inflation forever, we increased interest rates, when we increased the rates that dropped the inflation but also prices of assets as well like stocks and gold and bitcoin.

When rich people prefer to put their money in the bank to a high interest rate, that means it is going to be hard for us to find jobs, we are so used to those rich people paying for stuff, like our salaries and improved world, that when they do not spend it and just keep it in a bank, that stagnates the economy. This results with high unemployment all around the world,  and less shopping meaning less profit. That's the crisis we are heading into.

it's really hard to get profits now when when we buy alt.  I think buying cheap and selling quickly without having to wait for high prices is a good choice than us losing

I totally agree with your opinion. Altcoin is best for investment because altcoin is best for big profit. Bitcoin price movement is very slow but Altcoin"s price movement very first. I think if any person invest on Altcoin he will be profited today or tomorrow. For more profit we have to buy altcoin in deep and we have to sell in high price my altcoin. So i think we shouldn’t depend only Bitcoin also need invest on altcoin. If we invest also on altcoins i think Some of them will increase and i will able to reduce risk and i will withdraw money if need instant. So i thonk Altcoin also important.

All altcoins can become a scam at any time, even those with strong infrastructure, utility, a powerful community, a large fund and a real product. Even ETH can turn into a scam under certain circumstances.


I agree with that, but whatever your approach is, strategic or not, your investments will still be in a higher risk zone. Just don't forget that all LUNA investors were overboard and lost their money. Everyone from hamsters to institutional investors.

How big you can make money from the market totally depends on your timing. The early buyer will always be winners in this case. There are so many people were always putting their money too late and in result they are getting huge losses.
People shall understand that if investing is not as easy as they imagine. It requires you to take a fast decision as soon as possible before the train will leave you. It's not all of investors will be getting profit from their investments. The fact that if mostly of them gonna lose due to the volatility.

Altcoins are very important as tool to generate profits from the market in short time. Many people were relying on the volatility in altcoins caused by its even volatile compared to major coins like bitcoin and ethereum.

You're right, not all altcoins are scams. One platform I've been using for crypto earning is XGo. Their wealth growth features and earning rewards are a great way to make the most of the altcoin market. Always good to be cautious, but XGo offers a reliable option.

I don't know what kind of storm will happen to the economy, many people are discussing about the storm so that the crypto currency market will have another correction after what happened before. Can you tell me about it.?

Bitcoin is always the first choice at the investment level, ETH is the second alternative which is the best choice for now, speaking of XRP I heard that the SEC will appeal about the XRP case, because they feel something is wrong with the results of the XRP victory trial, maybe yes or maybe no XRP might have a correction back (Hawey might have made a mistake).

It's a good sign when XRP won yesterday, a lot of altcoins were bullish at that moment because the hype was so widespread that it made crypto itself more famous, and this I think is one of why altcoins are important.