Topic: Would it be fair to say no one actually uses any of these alts... - page 2. (Read 2464 times)
November 27, 2016, 04:30:26 AM
Yes, most of the time the coin developer is looking for chance to create a coin that can have valuable which one day can replace bitcoin or at least become bitcoin side kick, but most of the user is not interested at all due to the various reason and when the coin got no value the coin developer will create another coin, so most of the alt coin won't be used and we never heard the name
November 27, 2016, 03:44:38 AM
Perhaps as a social experiment, this could be tried...
Advertise an item of not insignificant value on Craigslist (or similar) but insist on payment by digital currency (besides Bitcoin). Now, this will have to be an item you can stand to lose or give away for next to nothing. For instance, I have a lawn mower in decent shape that is worth at least $125. I live in an apartment - so I do not want or need it. I will advertise it for sale for 10 LiteCoin and see what happens.
The point of this is to make just one more person aware of these currencies. The way I see it is that this is a closed subculture and these coins will not find their own markets because the general public is not aware of them, and does not have the time or patience for mining, exchanges, wallets, etc. If someone wants to buy my mower for LiteCoins, I will gladly accept it, or help them figure out how to do it.
The more of us that do this, the better. How can these coins gain in value if they are not in the realm of understanding of the general public as 'real' money?
Wouldn't it be nice if a small ads. site like CL created its' own cryptocurrency that you could trade with directly on the site, or peer to peer? The Craigcoin!
Advertise an item of not insignificant value on Craigslist (or similar) but insist on payment by digital currency (besides Bitcoin). Now, this will have to be an item you can stand to lose or give away for next to nothing. For instance, I have a lawn mower in decent shape that is worth at least $125. I live in an apartment - so I do not want or need it. I will advertise it for sale for 10 LiteCoin and see what happens.
The point of this is to make just one more person aware of these currencies. The way I see it is that this is a closed subculture and these coins will not find their own markets because the general public is not aware of them, and does not have the time or patience for mining, exchanges, wallets, etc. If someone wants to buy my mower for LiteCoins, I will gladly accept it, or help them figure out how to do it.
The more of us that do this, the better. How can these coins gain in value if they are not in the realm of understanding of the general public as 'real' money?
Wouldn't it be nice if a small ads. site like CL created its' own cryptocurrency that you could trade with directly on the site, or peer to peer? The Craigcoin!
November 27, 2016, 02:27:42 AM
it is not only fair but also it is spot on to say this about altcoins.
I mean you can find some random usage for some of the altcoins out there but that usage is so small (in a very small scale)
I mean you can find some random usage for some of the altcoins out there but that usage is so small (in a very small scale)
But you can say that about bitcoin too. Its real usage (to buy stuff) is so small, compared to daily volume and market cap which is MAINLY "trading", that it is almost negligible.
There *is* some bitcoin usage, for sure. But it is very small compared to the numbers that are supposed to indicate its size. Probably, with bitcoin, the percentage of "real use" is larger than for most altcoins, but it remains minuscule.
There is not $ 50 million of "buying stuff" with bitcoin daily. At all. It is somewhat difficult to find the bitpay volumes daily with recent numbers, it seems that the daily volume is of the order of $ 1 million or less, representing less than 2% of volume. Dark markets are somewhat larger than bitpay. If we are broad, we can say that 10% of bitcoin's volume is actual usage to buy stuff. All the rest is trading/gambling. Actually, most of it is with exchange IOU, because the CHAIN volume is about 4 times smaller than the exchanges volume.
3/4 of bitcoin's trading doesn't need any block chain, but only an exchange web site.
For most alt coins, the situation is worse, agreed. But nevertheless, MOST of crypto, including bitcoin, is gambling on exchanges and its usage "in real life" is minuscule.
November 26, 2016, 08:43:42 PM
I honestly don't believe anyone actually uses any of these alt coins. Covals main focus is instead of hype to get real usage and admittedly that usage is zero so far. So seriously is anyone actually using any of these platforms. I highly doubt it which means the whole thing is bullshit speculation and likely to crash.
Every coins differ from one another,there are coins specifically for one industry,there are some coins that has already created a merchant store of their own and some of them are for tipping purposes only,maybe time will come when online transactions will be focussed on altcoins also .
There is no such thing as a "niche coin"
I am sick of hearing about that bullshit from their bag-holders.
Of course you will all say that ..you have to bullshit the public (*if you can)
Your ROI'z depend on it !
Why do we need say for example "Weed Coin" when you can use Bitcoin on Alpha Bay ?
The birth of Niche coins was nothing but a gimmick.. an excuse to make a me-too-coin.
I know i was here and watched it all take off from the beginning.
It's just part of the Altcoin facade.
And no pushing coins from exchange to exchange for nothing but profits can not be considered currency use.
You all know it too so drop the act..
You all refuse to be honest about this shit and then have a fair chance at moving forward.
Instead you loiter around here bullshitting for Bucks ..real bucks $$$ BTC/FIAT
November 26, 2016, 06:07:41 AM
I honestly don't believe anyone actually uses any of these alt coins.[...]
this is not true. maybe from just one perspective. probably people not using altcoin for their basic purposes and features like anonimity, instant tx, etc, BUT they are trading with huge volumes on different exchanges 
November 26, 2016, 05:22:50 AM
I honestly don't believe anyone actually uses any of these alt coins. Covals main focus is instead of hype to get real usage and admittedly that usage is zero so far. So seriously is anyone actually using any of these platforms. I highly doubt it which means the whole thing is bullshit speculation and likely to crash.
Every coins differ from one another,there are coins specifically for one industry,there are some coins that has already created a merchant store of their own and some of them are for tipping purposes only,maybe time will come when online transactions will be focussed on altcoins also .
November 26, 2016, 03:34:54 AM
it is not only fair but also it is spot on to say this about altcoins.
I mean you can find some random usage for some of the altcoins out there but that usage is so small (in a very small scale) that it should not be counted even. and as long as this situation remains the same none of these altcoins can live any longer than a year tops and they die and be replaced by new ones with the same ending.
I mean you can find some random usage for some of the altcoins out there but that usage is so small (in a very small scale) that it should not be counted even. and as long as this situation remains the same none of these altcoins can live any longer than a year tops and they die and be replaced by new ones with the same ending.
November 26, 2016, 02:03:24 AM
They all have ended up as dog shit.
None have done anything and no none are used for fuck all.
BTC barely is..
7,000 ANN topics roughly ..this shit is a joke.
None have done anything and no none are used for fuck all.
BTC barely is..
7,000 ANN topics roughly ..this shit is a joke.
November 26, 2016, 01:18:56 AM
kind of why i thought it was preferable to peg the value of my cryptocurrency to fiat currencies, just to have an extrinsic value and much less volatility
I know others did the same (like ven), although they usually have a exchange rate target (selling/buying at a specific price) instead of using a reserve currency standard (value backed by actual reserves)
I know others did the same (like ven), although they usually have a exchange rate target (selling/buying at a specific price) instead of using a reserve currency standard (value backed by actual reserves)
November 26, 2016, 01:01:21 AM
I honestly don't believe anyone actually uses any of these alt coins. Covals main focus is instead of hype to get real usage and admittedly that usage is zero so far. So seriously is anyone actually using any of these platforms. I highly doubt it which means the whole thing is bullshit speculation and likely to crash.
i wouldn't say all of the altcoins but i can say this with confidence that 99% of them is like what you said, no one uses them and they are only there as a means for speculation and as we all know it as way to get pump and dumped to make more bitcoin for those who can get in fast and get out faster.
but there are 1% or less that are actually offering some good features and are used in a very tiny scale but they are used nonetheless.
e.g. LTC and XMR
November 25, 2016, 11:22:35 PM
Good thing about open source and block chain technology is that everyone could potentially make his own altcoin.
It really depends on the actual usefulness of such lines of codes.
You shouldn't really pay attention to all of the altcoins to see if they have any users/traders, as I can personally create one and hype it to fill my own pockets, we should see for what and why we suppose to even use any of them.
It really depends on the actual usefulness of such lines of codes.
You shouldn't really pay attention to all of the altcoins to see if they have any users/traders, as I can personally create one and hype it to fill my own pockets, we should see for what and why we suppose to even use any of them.
November 25, 2016, 11:14:17 PM
I honestly don't believe anyone actually uses any of these alt coins. Covals main focus is instead of hype to get real usage and admittedly that usage is zero so far. So seriously is anyone actually using any of these platforms. I highly doubt it which means the whole thing is bullshit speculation and likely to crash.
Alt coin has had a lot of shit right now. Some platform gives an allowance for own make crypto based with his chain. It was becoming the big worst ever in the world of crypto.
Even a lot of the presentation of Shit dev with his shit ico have had a purpose for grab more and more money.
Altcoin = pure speculation = delusional
November 25, 2016, 10:06:54 PM
All these alts are marketed based on "promises" and they are not accepted as widely as bitcoin. All these price increases are based on price speculation.
Alts are being used by whales to help them to make more btc. I don't see any altcoin that is undervalued at the moment.
Alts are being used by whales to help them to make more btc. I don't see any altcoin that is undervalued at the moment.
November 25, 2016, 01:42:26 PM
not sure about the answer cause probably there are some people who are using alts
but let's face it all the places I know that accept alts accept bitcoins too , but not all the places or sites that accept bitcoin accept alts
So in my opinion so far there is no point in using alts
but let's face it all the places I know that accept alts accept bitcoins too , but not all the places or sites that accept bitcoin accept alts
So in my opinion so far there is no point in using alts
November 25, 2016, 01:09:05 PM
I honestly don't believe anyone actually uses any of these alt coins. Covals main focus is instead of hype to get real usage and admittedly that usage is zero so far. So seriously is anyone actually using any of these platforms. I highly doubt it which means the whole thing is bullshit speculation and likely to crash.
They are not meant to solve any problems but be used as a source of generating money.Apart from ETH/Monero/Doge nothing is relevant in the commercial stream for a long time.Take gambling sites for example,they only accept a few famous alts. November 25, 2016, 12:39:15 PM
Alts are only good to grab nice profit from daily price swing, the one who trade alts will end up holding bitcoin to not get any loss when he sleeps. All think alts are only good to play with rather than saving them for long term. Most of the alts come with some random company backing them and holding more than 20% of total supply as dev fund and even worst they collect thousands of bitcoin in the name of ICO to spend for their world tour. 
November 25, 2016, 09:21:20 AM
99.99% of altcoins are just for trading.
98% of coins probably die off in the first year or two.
(I'm sure someone has the actual statistics.)
Most devs don't actually care about the coin for the long term, anyways.
They care about an ICO, or premine so they can dump on the exchange, take their profits and let the coin die off.
I totally agree with you, Most of the coins that are made by the devs are almost 100% for just making money and we can deny about that, Most of the altcoins on the market don't have real users but only have real traders, Those altcoins are just made for trading and making money but not for long term usage. 98% of coins probably die off in the first year or two.
(I'm sure someone has the actual statistics.)
Most devs don't actually care about the coin for the long term, anyways.
They care about an ICO, or premine so they can dump on the exchange, take their profits and let the coin die off.
November 25, 2016, 08:23:36 AM
99.99% of altcoins are just for trading.
98% of coins probably die off in the first year or two.
(I'm sure someone has the actual statistics.)
Most devs don't actually care about the coin for the long term, anyways.
They care about an ICO, or premine so they can dump on the exchange, take their profits and let the coin die off.
98% of coins probably die off in the first year or two.
(I'm sure someone has the actual statistics.)
Most devs don't actually care about the coin for the long term, anyways.
They care about an ICO, or premine so they can dump on the exchange, take their profits and let the coin die off.
Some would say that all altcoins are based only on speculative value. They are called as "bitcoin maximalists" by the supporters of different altcoins but who can really blame the bitcoin maximalists? The development teams of almost all altcoins have scammed the community in different ways while pretending that the project their building will be the future. Some I give the benefit of the doubt like the developers of Monero. They are not a scam yet but the truth about them will come out in time. The same with Ethereum.
Why work 8 hours a day 5 days a week for a shit salary when you can start your own vaporware foundation and make millions doing little work?
Only the guys at the top make the millions, often are already millionaires and some of them had been at it for years. Vitalik was already setup for life, his father Dmitry Buterin makes $30+ million a year just with Wild Apricot and Vitalik was going to inherit mega money at some point. Risto P. was another inheritance story and technically was an oligarch, after Communism collapsed he swooped in and bought assets at bargain prices. The OneCoin people, I suspect, are all multi-millionaires too.
You're probably taking about the middle management types. Yeah they might make $100K, maybe even at $1 million for some, but what happens after crypto dies? You had the same 'sad story' during the dot com years, people who went from six figure incomes doing jack all and then going down to $0-$30,000 a year.
November 25, 2016, 08:10:48 AM
I honestly don't believe anyone actually uses any of these alt coins. Covals main focus is instead of hype to get real usage and admittedly that usage is zero so far. So seriously is anyone actually using any of these platforms. I highly doubt it which means the whole thing is bullshit speculation and likely to crash.
You know it is hard to create a project and make it run from scratch, people ask bitcointalk to crowdfund their project to raise a minimal amount of money to be able to complete the developement of projects. The problem here is that a lot of devs decided to use this opportunity to create Scam coins, scam projects, thus breaking the confidence between Devs and investors ( everyone in bitcointalk is an investor ). This is why a lot of crowd funding platforms are rising ( waves, rise, lisk ).
The main concern for altcoins is to find a way to be used, this is why they all die at 1 sat price, with 0 buy orders. Devs shall first ensure their coin will be used before releasing the wallets or ICO. Now there are a lot of possibilities for these coins to be used. So early merchant integration is mandatory for a coin who wants to exist in the long run.
November 25, 2016, 04:48:11 AM
99.99% of altcoins are just for trading.
Bitcoin isn't very far off either.
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