Topic: Why are altcoins important? - page 21. (Read 3361 times)

I'm not an altcoin holder, and I don't like them much personally.

However, I do recognize their quality in attracting new investors to the market, and for some of them, in trying to solve real-life problems.

But the question is, have altcoins done more good than harm to the crypto ecosystem? For every thousand investors and new crypto enthusiasts that altcoins have brought in, how many have they disgusted with scams, rug pulls and other shenanigans?

They're important, because they represent a huge financial volume. But for me, their greatest quality is to demonstrate day after day how solid, useful and self-sufficient Bitcoin is.

I can't even count the number of messages I've read on the internet saying: "I got into cryptos for a get-rich-quick scheme with some altcoins, after failures and disappointments I'm now all-in BTC". Many don't understand how altcoins work. Those who make money, make altcoins useful because they earn profit with them, those who lose money, make them useful because sometimes it directs them to BTC.

It's nuanced, as always, ETH is not a stupid memecoin, and don't offer the same possibilities. So I think some alts can be important, while others are just losses for everyone (except for their dubious developers who get rich on the backs of investors, examples are numerous on the BSC chain).

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.

Most altcoins are best for short term and a few might be considered good for long term. But that's where the debate starts because everyone has their own taste of altcoins.

Many are the ones that looks at it as their ticket to lottery and likely to give them the best profits that they can think of for a very short period of time.

But little did they know, that's gonna butcher them when the altcoin they've chosen is mostly a pump and dump.

I don't really like altcoins, especially new coins, meme classes, or hype coins. However, many argue for Altcoins, especially the newer projects, that they can experience rapid price growth, providing the potential opportunity for significant investment ROI and I'm also surprised it has always been able to attract so much interest from both investors and developers.

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?