Topic: Why do alt currencies have value? (Read 1646 times)
Altcoins have value because people use them, it is that simple. Human factor is the most important factor when it comes to the driving force behind the value of any coin. Though your evaluation seems legit I do think that you are wrong. There is something fundamentally good about altcoins but they are not better than bitcoin, they cannot overtake bitcoin. As long as people continue to use a coin, it will continue to have value.
The use or usage of an altcoin gives it the value it has. Although, this also depends on that particular usage. I could remember coming across a coin, whose value is dependent of medical data used in research. The high demand for these data, gave it the value it has.
Other altcoins trying to solve different reasons. For example EOS is something similar to ETH but do it in some other way and have different code base. Or Dash versus Monero and Zcash. Or Storj versus Sia. Some of them will succeed while other will fail but we need this competition right now.
Every "good" altcoin has its peculiar usage. If we eventually find an altcoin whose usage outweighs the of bitcoin, we can possibly be looking at it overtaking bitcoin. Presently, we have some coins in the market and some upcoming ones with real value.
what gives a currency a value? maybe you can start by answering that yourself and then you realize that it has to have some purpose/output or there is no value
Most coins depend on Bitcoin and Ethereum and their price depends heavily on them. However, there are some shitcoins.
With the rise of LTC and more recently FTC, why do these alt coins have value? I can only think of 2 possible reasons:
1) There is something fundamentally better about an alt coin and it will eventually overtake BTC. Thus the coin has value because people are speculating that a specific coin will overtake BTC.
2) Multiple coins can coexists and may even be used for different niches within the market. For instance, LTC may be used for in person (online) transactions due to it's speed.
Thoughts?
1) There is something fundamentally better about an alt coin and it will eventually overtake BTC. Thus the coin has value because people are speculating that a specific coin will overtake BTC.
2) Multiple coins can coexists and may even be used for different niches within the market. For instance, LTC may be used for in person (online) transactions due to it's speed.
Thoughts?
The price of any asset including cryptocurrencies is determined by the ratio of supply and demand. Hence the cost of a particular coin. In my opinion cryptocurrencies should have regularities of their development so that we can predict how the price will change.
There are each genre of projections peak these coinage and they jump them bill, whereas with coinage you are or desire be clever to obtain any choices or usefulness on a bound platform.
I like Eth the most.
Because of the demand for the coins regardless of why people are looking for them. Maybe they see something promising from a coin or maybe because they're just speculating. I don't follow litecoin very well but as I know this coin has been around for a long time hence something good maybe exist with it.
They have value because they are normally promising chains that have certain technological improvements that can result in an interesting application some day.
I guess all has value because we agreed among ourselves that it does. People who don't know that gold has price treat it like garbage. So it is our agreement and desire to get rich on coins that attaches value to them.
As we have seen, the attempt to implement LitePay team LTC failed. I will not invest my money in them, I do not believe in their success.
Some are giving dividends, some are giving some befits for holders, there are many reasons for having value.
The altcoin is worth it when it explodes
It is quite saturated now.
ICO sprouts much, pulling more coin at the same time the altcoin sect competing.
It is quite saturated now.
ICO sprouts much, pulling more coin at the same time the altcoin sect competing.
There are all kinds of projects behind these coins and they give them value, because with coins you are or will be able to purchase some goods or/and services on a certain platform. So such a coin can be used as a means of payment and as an investment. How much such a coin costs depends on the state of the market, of course, and on the supply and demand of this coin - how much it is used on a platform.
I'm with the second statement. There can be multiple coins but they should be for different niches.
There can be two coins competing in the same niche but one would subsequently come up as a leader and kill the other one.
There can be two coins competing in the same niche but one would subsequently come up as a leader and kill the other one.
Why do alt currencies have value?
Because they have a better chance of making x5-x10. Bitcoin is no longer capable of this.
Because they have a better chance of making x5-x10. Bitcoin is no longer capable of this.
They are rare and everything rare is expensive. You can get a lot of profit from mining them. Mining some altcoins is more profitable than BTC. People hope to get rich and media are contributing all the hype around new currencies so prices climb up.
They have values because they have a product or services on it, or they have a good capability like Bitcoin, examples of these are waves and ethereum, the many coins with good features and capability I think the better for the community people and companies have a better option now.
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