In the title, you were asking about Altcoins, then in the thread, you spoke about Bitcoin.
Well, Bitcoin isn't an Altcoin buddy, it's the mother and the holy father of CRYPTO, it's the king and the new generation of money, it's the new money over internet service, it will be adopted sooner or later, just hangout and wait for the moment!
Topic: wtat are the biggest disadvantages of altcoin ? - page 3. (Read 497 times)
Instability is a huge drawback. You never know what will happen tomorrow. Unfortunately.
If that was such a huge drawback then no one will invest in the stock market, real estate or gold and yet most of the money around the world is invested in those three things, besides if it was such a drawback as you said then it will be impossible for us to make as much money as we are making, remember we cannot have a stable currency and a great investment in a single asset. 
Well, most of the time the altcoin is evaluated on the basis of company's performance, so its much more vulnerable to rapid price fluctuations and in the most severe cases, a complete downfall of the coin.
Some of the biggest disadvantages of altcoin is dubious activities that happen in crypto world and the how it damages the reputation of other alts which are actually good and have potential. 46% of the ICOs turn out to be scams. Crypto world badly needs regulation so that people can trust alts. If this trust is solid this can help attract funds of other investors and further funds as well.
I believe that the biggest drawback of altcoins is that you never know if the project will be successful. A large range of systems, the vast majority of which do not receive recognition and dissemination, can lead to unsuccessful investments. In this segment there is a large number of frankly fraudulent projects posing as promising crypto-currencies.
it is not easy to determine that a project is true and false because the promise is very well expressed, so the possibility of frequent origin is only the origin of making altcoin difficult to grow, but it is certain there will someday be the best can resemble existing and good.
Well step 1 for that is just don't be stupid in investing in altcoins and you'll be fine. The drawbacks that altcoin can give are the various opportunities. Setting aside those scammy ICOs. You don't know what is the best coin to get into apart from its utilization in the blockchain technology and the price.
I believe that the biggest drawback of altcoins is that you never know if the project will be successful. A large range of systems, the vast majority of which do not receive recognition and dissemination, can lead to unsuccessful investments. In this segment there is a large number of frankly fraudulent projects posing as promising crypto-currencies.
it is not easy to determine that a project is true and false because the promise is very well expressed, so the possibility of frequent origin is only the origin of making altcoin difficult to grow, but it is certain there will someday be the best can resemble existing and good.
for me, the main disadvantage is all the new project is basically a fork of diff coin or just a cloned. Nothing new or original.
everyone want to be ford, honda and toyota.
nobody really want to be like a tesla. thats the problem. They do invent, they just copying
everyone want to be ford, honda and toyota.
nobody really want to be like a tesla. thats the problem. They do invent, they just copying
Its all about the unwanted protocols and algorithms that has raised out of the blockchain. I mean why they should add it in the main stream if they are not useful in the same manner as the fiat currency. I mean what else they have to offer,? An anonymous coin, and coin with secure transaction? Oh dam we already go that covered in the fiat currency so I dont really understand what crypto makes the difference?
It has to be improved one and must contain far better stability and must provide the characters which it really having in its core. Unless and until we dont explore them there is no meaning to that.
It has to be improved one and must contain far better stability and must provide the characters which it really having in its core. Unless and until we dont explore them there is no meaning to that.
Bitcoin still need a long time to be accepted as mainstream payment. The two main problems in my opinion is People Trust, and the market volatility. When you ask people around you and yourself, what makes them confident to pay using fiat is because they know that their fiat money is backed up by government regulation and gold. While Bitcoin, even though it has so many feature that made very trustee, but most of people don't understand (at least until now). Second the market volatility make it impossible for business entity to accept it as a payment. They can do business with a currency that has 10%+ price change every day.
Its my thought of explanation. As for me the main problem is probably in the goverment section. They see a threat to their economy. With altcoins they cant get any some sort of tax per transaction. And in that case alone its a big loss to the goverment. And also many other altcoins that is not traceable the user use it to buy illegal stuff like in the black market. Thats only my opinion .
The trust is the biggest disadvantage of Altcoin since people stay worried that a company might run away with all of their money. The same happened recently with Freelancer coin. The company raised enough money and then eventually ran away with it.
With an increase in such number of incidents, people refrain from investing money in ICOs and Alts. Such investments are riskier than the investments made in Bitcoin or Ethereum.
With an increase in such number of incidents, people refrain from investing money in ICOs and Alts. Such investments are riskier than the investments made in Bitcoin or Ethereum.
Because these ICOs are monitored by anyone and just based on their good white paper these teams can raise funds. Investors also invest money as if there is no tomorrow because they want to become rich faster. That's many people exploiting this weakness in the system to cheat investors. I know it is very hard to find out which one is good and which is not. So I have stopped investing in ICOs and only invest if funds are escrowed by some reputed members.
The biggest drawback of Altcoin is that their prices are unstable and volatile, which is the case in the entire cryptocurrency field, but as more and more people accept the cryptocurrency, its price will tend to stabilize.
Then Bitcoin is also the same, hence you just made Bitcoin and Altcoin the same thing. Unsuitability and volatility are features of any cryptocurrency even Bitcoin also, so you cannot see them as disadvantage. It is just because these two factors that people make fortune in this market. But what Biggest disadvantage of altcoin is seen over the past few years is that these systems are decentralized but centralized in some sort of way. Their coin is dependent on the team and if unfavorable things happens like hacks or anything else, coin falls to ground in no time, wasting money of many investors and becoming one of the biggest disadvantage of altcoin.
At present, most tokens still have a problem, so the distribution of tokens is too centralized.
And people just want to profit by speculating in tokens.
And people just want to profit by speculating in tokens.
I think the biggest disadvantage is that the price of any alt is linked to the BTC price.
Instability is a huge drawback. You never know what will happen tomorrow. Unfortunately.
Depends really on how you look at it. Because some people even entered the market because it's votilaty to try to turn their money around and is the driving force behind the prices we have today as many people hop on this train to earn money at the end of the day. Because of votilaty mainly what people use is they see AR the current point in time the price and trade upon that. Another obstacle is ease of use as well as people are not educated well enough about their private keys and all that which may lead to them being scared to enter cuz if they screw something up they know there's no turning back their money.
The biggest drawback of Altcoin is that their prices are unstable and volatile, which is the case in the entire cryptocurrency field, but as more and more people accept the cryptocurrency, its price will tend to stabilize.
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved.
If you want to know about the bitcoin then why are you mentioning altcoins in your title! I dont get it !
Anyway, on the discussion front its main issue is legality of using all the crypto's. Its not just about the bitcoin or altcoins and its neither about their characteristic but a simple fact that is "non-acceptance" by the government. See, if they accept it one day and if devs see bitcoin/altcoin are being used as mainstream application then obviously rest of the developments will follow and things will be recovered in zero time. So thats the bothering thing or major disadvantage of it, we need ruling body!
And as you've mentioned, acceptance of cryptocurrencies is the major challenge and the solution is to have a worldwide council on cryptocurrency that will set out guidelines and issue licence to developers.
There is no doubt that it is a slow transfer.
If bitcoin wants to be a real currency, the first problem to be solved is the speed of transfer.
If bitcoin wants to be a real currency, the first problem to be solved is the speed of transfer.
The trust is the biggest disadvantage of Altcoin since people stay worried that a company might run away with all of their money. The same happened recently with Freelancer coin. The company raised enough money and then eventually ran away with it.
With an increase in such number of incidents, people refrain from investing money in ICOs and Alts. Such investments are riskier than the investments made in Bitcoin or Ethereum.
With an increase in such number of incidents, people refrain from investing money in ICOs and Alts. Such investments are riskier than the investments made in Bitcoin or Ethereum.
As for me the biggest disadvantage is unpredictable price and existence. We are sure that Bitcoin will be there tomorrow and probably always, but we can not think the same about altcoins.
Of course, the main need of crypto is being a part of on cryptobank with cards and other possibilities
Of course, the main need of crypto is being a part of on cryptobank with cards and other possibilities
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