Why are altcoins important? - page 4.

Vincom

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Quote from: irhact on April 13, 2024, 03:32:33 PM

Yes altcoins can give you high profits than Bitcoin when they do very well and don't scam but the problem is that alot of altcoins are scamming their investors therefore it becomes difficult to identify which altcoins is real and not a scam. The altcoin that are very popular and listed on big exchange for their IEO won't give you a big profit unless you have large amounts of investment money to put in buying the coins from the day they launched but alot of investors don't have that kind of amount.

Therefore they buy unpopular coins with little money and they hope for them to become popular and give them profit but alot of them fail and others scam therefore investing in altcoins to make money become difficult for many but regardless of all this, altcoins are every important in the market as they help in doing things Bitcoin can't do. They help to give us bigger profit that it'll be hard to get from investing in Bitcoin.

High profitability is just one aspect of the value of Altcoins.

I believe Altcoins are truly important in the crypto market because they come with technologies with (high speed, low cost, smart contracts) to meet user needs or promote on social media (memecoins). Most importantly, Altcoins help make the crypto market more vibrant, give investors more choices, and allow money to flow between BTC and Altcoins to create stronger growth and longer uptrends.

After the advent of Altcoins, the market has seen many narratives such as Layer 1-2-3, DeFi, GameFi, SocialFi, NFT, Metaverse, RWA, DePIN... these are things that BTC cannot create on its own. Crypto is just one side of the coin, the other side is blockchain technology, and I believe that new potential projects that are launched will actually be widely adopted in the future to bring more value to society.

irhact

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While the altcoin market does come with its fair share of risks, it also presents opportunities for those who are well-informed and strategic in their approach. Investing in altcoins can potentially offer higher returns compared to more established assets like Bitcoin, but it requires thorough research, risk management, and a strong stomach for volatility.

Yes altcoins can give you high profits than Bitcoin when they do very well and don't scam but the problem is that alot of altcoins are scamming their investors therefore it becomes difficult to identify which altcoins is real and not a scam. The altcoin that are very popular and listed on big exchange for their IEO won't give you a big profit unless you have large amounts of investment money to put in buying the coins from the day they launched but alot of investors don't have that kind of amount.

Therefore they buy unpopular coins with little money and they hope for them to become popular and give them profit but alot of them fail and others scam therefore investing in altcoins to make money become difficult for many but regardless of all this, altcoins are every important in the market as they help in doing things Bitcoin can't do. They help to give us bigger profit that it'll be hard to get from investing in Bitcoin.

Bravut

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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?

Buy the dip and sell faster can be seen as gambling. The truth is to what extent are you willing to hold, or ready to sell because waiting for price to rise at times is misleading as you might get overwhelmed with price increase, greed kicks in. So after taking into consideration this two factors it will guide you on how you go about it.

We have seen some coins crash and many investors liquidate this period, this is a call to all, to be cautious of the coins you invest or risk your money on. Ensure you have plans and play within your risk tolerance level, don't let your holdings and believe in altcoins consume you, Bitcoin is still the king.

Tmoonz

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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?

It may not be as easy said than done as per buying the dip and sold faster, greed has made a lot of people to be scammed why attempting to make quick money, what am trying to say is that most it can be very difficult to determine the level at which you may want to fast sell because you would want to make a bigger profits and thereby get disappointed when the market will drop down again and some will never go up again , that is why involving in other coins others than Bitcoin is more risky, for Bitcoin no matter how much it goes down it must surely go again. So don't over allocate your funds in other coins, than in Bitcoin.

Churchillvv

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Quote from: Abiky on April 12, 2024, 12:58:07 PM

Quote from: Churchillvv on March 22, 2024, 08:40:56 PM

Perhaps a lot of people missed the opportunity of investing in bitcoin while it was at it's early stage and thus altcoins as the name implies are there to act as bitcoin in the aspect of making your the expected profit which you would have gotten if you invested in bitcoin from the beginning.

Bitcoin has some flaws and altcoins are here to cover up for this flaws which it has, as Ethereum for example is an alternative coin that was coined as a result of the flaw of bitcoin having limited supply which is 21million and now Ethereum trying to cover for bitcoin was created in a manner that if doesn't have a limited supply, what it's saying essence is that the more the population of ethereum adopters the likely they are to realise a new number in other to reach us all.

Another example of importance is when the network is congested altcoins are used for payment as a result so it does count.

I'm curious as to which flaws does Bitcoin have? If you mean scaling issues, that's no longer a problem thanks to the inception of L2 networks (like the Lightning Network) and sidechains. And the transparency of the Bitcoin Blockchain is more of a feature than a bug. It helps us detect criminal activities on-chain, which is not possible on privacy-focused Blockchains. Corruption can't happen on a transparent ledger anyone can audit.

Perhaps the choice of word is the misconceptions here, its obvious that bitcoin doesn't have the said flaws but in a common sense bitcoin is not as private as monero, which is another feature that bitcoin can't offer.

So, I don't know if I should classify that as a flaw that bitcoin has.

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Quote from: Sophokles on March 24, 2024, 06:48:07 AM

Quote from: Promocodeudo on March 23, 2024, 09:46:03 PM

Altcoins are important because the serve alternative purposes, I believe the creation of altcoins has also help Bitcoin too to stand strong in the market, people now believe that Bitcoin is real, the diversification aspect too is a good and important features of altcoins, though there are many strategy to invest in Bitcoin but altcoins are very cheap and because of this, people has decided to give altcoin a trial in terms of investing in it, there are many available choices in altcoins investment so it is left for the investor to chose, there is know excuse for not investing in crypto.

It is true altcoin give people something to compare with bitcoin but the whole altcoin market just split the liquidity from bitcoin market. But i agree with this Opinion that altcoin market is important and it helps to evolve the industry and motivate to do innovation. The more time passes by we are seeing new concept and technology is being introduced to the market which is helping to bring new money.

Since we have the opinion to invest in non Bitcoin projects which is altcoins, we can decide to invest part of our capital on Bitcoin and put the rest in altcoins. This is going to help us benefit from the market more if we understand the market and know how to share our investment well so that we can benefit massively from it. There are plenty of altcoins we can put our funds and make money if we know how to select good projects and out reasonable money on them to earn more from the market.

AnonBitCoiner

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Quote from: Tahid12 on April 11, 2024, 06:58:49 PM

Op you are right from your point of view. I already invested with a lots of altcoins and most of them turned into scam or dead coin right now. But yeah, many altcoins also gave me profit to. So I can't ingore the whole altcoins sector. Rather it will be wise to select good altcoins which have less possibility to scam and more possibility to generate profit for you. Otherwise you'll be scam by altcoins. So be conscious before investment

If you have gained profit from altcoins and your profit is greater than your loss then its okay you are in profit so forget about the loss. There is also a way to make identification about altcoins nature but for it your experience and knowledge will work better.

There are unlimited coins in crypto market but we have not to choose all of them as there is a huge percentage of scam projects so invest with great care and give time to experimentation.

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Quote from: Churchillvv on March 22, 2024, 08:40:56 PM

Perhaps a lot of people missed the opportunity of investing in bitcoin while it was at it's early stage and thus altcoins as the name implies are there to act as bitcoin in the aspect of making your the expected profit which you would have gotten if you invested in bitcoin from the beginning.

Bitcoin has some flaws and altcoins are here to cover up for this flaws which it has, as Ethereum for example is an alternative coin that was coined as a result of the flaw of bitcoin having limited supply which is 21million and now Ethereum trying to cover for bitcoin was created in a manner that if doesn't have a limited supply, what it's saying essence is that the more the population of ethereum adopters the likely they are to realise a new number in other to reach us all.

Another example of importance is when the network is congested altcoins are used for payment as a result so it does count.

I'm curious as to which flaws does Bitcoin have? If you mean scaling issues, that's no longer a problem thanks to the inception of L2 networks (like the Lightning Network) and sidechains. And the transparency of the Bitcoin Blockchain is more of a feature than a bug. It helps us detect criminal activities on-chain, which is not possible on privacy-focused Blockchains. Corruption can't happen on a transparent ledger anyone can audit.

Altcoins are only there to help test out new features before they're launched on the main Bitcoin Blockchain. They're also an avenue for investors to make money if they get in early. Those who missed the "Bitcoin train", now see an opportunity in altcoins to achieve financial independence. The term "altcoin" will continue to be used as long as we have cryptocurrencies that are distinct from Bitcoin. Some projects will die, while others will last a lifetime. Just spend your money wisely, and there should be nothing to worry about. Cheesy

OrangeII

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well, not everyone can take advantage of bitcoin because of its high price, and sometimes people also target higher profits using minimal capital, so they will choose altcoins over bitcoin. Apart from that, currently there are still many altcoins that also have good potential, such as popular coins. This makes many people choose altcoins as a long-term investment.
Personally, I also use altcoins more than bitcoin to seek higher profits in a short time. However, until now, utilizing altcoins has been a pretty good thing to increase profits

tengui

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One of the functions of research is so that we don't invest in the wrong altcoin, in the sense that the price of the altcoin continues to fall and in the end it has no price.
I don't have day trader or short term investment skills, so I decided on long term investments. Yes, buy when the price is low then hold for a long time until the target price is reached.

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Quote from: Tahid12 on April 11, 2024, 06:58:49 PM

Op you are right from your point of view. I already invested with a lots of altcoins and most of them turned into scam or dead coin right now. But yeah, many altcoins also gave me profit to. So I can't ingore the whole altcoins sector. Rather it will be wise to select good altcoins which have less possibility to scam and more possibility to generate profit for you. Otherwise you'll be scam by altcoins. So be conscious before investment

Promising altcoins will step up for bold steps. Always be conscious whenever you're infront of altcoins because they have the tendency of pumping high and also dumping heavily. Altcoins, not all of them are promising, we know the projects that will make terrible moves and end up being shareable. Investment are only main for the top whales that can comprehend any market condition on their way. If an investor keen on making huge profits in the market, there are more chances to do so with appropriate strategies.

Tahid12

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Op you are right from your point of view. I already invested with a lots of altcoins and most of them turned into scam or dead coin right now. But yeah, many altcoins also gave me profit to. So I can't ingore the whole altcoins sector. Rather it will be wise to select good altcoins which have less possibility to scam and more possibility to generate profit for you. Otherwise you'll be scam by altcoins. So be conscious before investment

Sophokles

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Quote from: Promocodeudo on March 23, 2024, 09:46:03 PM

Altcoins are important because the serve alternative purposes, I believe the creation of altcoins has also help Bitcoin too to stand strong in the market, people now believe that Bitcoin is real, the diversification aspect too is a good and important features of altcoins, though there are many strategy to invest in Bitcoin but altcoins are very cheap and because of this, people has decided to give altcoin a trial in terms of investing in it, there are many available choices in altcoins investment so it is left for the investor to chose, there is know excuse for not investing in crypto.

It is true altcoin give people something to compare with bitcoin but the whole altcoin market just split the liquidity from bitcoin market. But i agree with this Opinion that altcoin market is important and it helps to evolve the industry and motivate to do innovation. The more time passes by we are seeing new concept and technology is being introduced to the market which is helping to bring new money.

Belarge

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Quote from: Promocodeudo on March 23, 2024, 09:46:03 PM

Altcoins are important because the serve alternative purposes, I believe the creation of altcoins has also help Bitcoin too to stand strong in the market, people now believe that Bitcoin is real, the diversification aspect too is a good and important features of altcoins, though there are many strategy to invest in Bitcoin but altcoins are very cheap and because of this, people has decided to give altcoin a trial in terms of investing in it, there are many available choices in altcoins investment so it is left for the investor to chose, there is know excuse for not investing in crypto.

Cryptocurrency is important, it have saved us most times, never stop having positive mindsets and rolling with likely connected people in the market. Bitcoin is real and may investors have made quite substantial profits from the projects. What really matters is having timely piece of information related to these projects before the trends starts running. I'm not a fan of scalping, always make sure my trading are longterm and promising as usual, not holding out but doing the impossible moved discretely in the market.

Promocodeudo

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Altcoins are important because the serve alternative purposes, I believe the creation of altcoins has also help Bitcoin too to stand strong in the market, people now believe that Bitcoin is real, the diversification aspect too is a good and important features of altcoins, though there are many strategy to invest in Bitcoin but altcoins are very cheap and because of this, people has decided to give altcoin a trial in terms of investing in it, there are many available choices in altcoins investment so it is left for the investor to chose, there is know excuse for not investing in crypto.

arjunmujay

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Quote from: Kavelj22 on March 22, 2024, 06:21:23 PM

Although I do not trust most of the altcoins projects on the market, I am convinced of the importance of these projects to some extent. Many may share a bad perception about altcoins because the huge number of scam projects and how much risky are those investments.
Altcoins are an important component of the cryptocurrency ecosystem as it's offering a wide range of advantages like: offering diversity of innovation which will surely can be accessible for a wider audience/the potential to generate high returns from trading or long-term hodl/enabling startup projects that are promoting decentralization which will enable growing new communities.

In fact, there are many altcoins that are used to provide the world's latest innovations with blockchain technology. Now we can see that Blackrock has started using blockchain technology and will launch its own altcoin.

That means altcoins can indeed be a bridge for technology in an increasingly advanced world.
However, the problem is that many projects are forced to stop due to lack of investor interest in certain projects. There are even fictitious projects that only want to make a profit from investors' money and then don't develop the project any more.

Churchillvv

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Perhaps a lot of people missed the opportunity of investing in bitcoin while it was at it's early stage and thus altcoins as the name implies are there to act as bitcoin in the aspect of making your the expected profit which you would have gotten if you invested in bitcoin from the beginning.

Bitcoin has some flaws and altcoins are here to cover up for this flaws which it has, as Ethereum for example is an alternative coin that was coined as a result of the flaw of bitcoin having limited supply which is 21million and now Ethereum trying to cover for bitcoin was created in a manner that if doesn't have a limited supply, what it's saying essence is that the more the population of ethereum adopters the likely they are to realise a new number in other to reach us all.

Another example of importance is when the network is congested altcoins are used for payment as a result so it does count.

Kavelj22

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Although I do not trust most of the altcoins projects on the market, I am convinced of the importance of these projects to some extent. Many may share a bad perception about altcoins because the huge number of scam projects and how much risky are those investments.
Altcoins are an important component of the cryptocurrency ecosystem as it's offering a wide range of advantages like: offering diversity of innovation which will surely can be accessible for a wider audience/the potential to generate high returns from trading or long-term hodl/enabling startup projects that are promoting decentralization which will enable growing new communities.

atescryp

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Blockchain systems continue to lead the way for altcoins, and Partisia is no exception. Despite its recent listing, Partisia demonstrates immense potential that's impossible to ignore. Its innovative approach to data privacy and security through Secure Multiparty Computation (MPC) sets it apart in the blockchain landscape. As more investors and developers recognize its capabilities, Partisia is poised to make significant waves in the cryptocurrency world. With its robust features and forward-thinking technology, Partisia has the potential to become a major player in the altcoin market in the near future.

Jonyshake71

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Bitcoin is only main coin and rest of thousands cryptocurrency are called altcoins. If you don't like altcoins means you only investment in Bitcoin. Is that right when there are potential altcoins also available for investment? And altcoins are different, each catageoy are different. Potential altcoins can be hold for long term. There's no problem. And some altcoins can be trade for long also but some altcoins should be buy fast and sell fast and some shitcoins never should buy. There are so many thing. You can't describe altcoins industry just in one sentence only

Topic: Why are altcoins important? - page 4. (Read 3604 times)