Bitcoin Forum

I have noticed that coins which don't have much going for them besides gimmicky features and more importantly low supply end up doing the best in terms of marketcap. Coins with usability appear to be overlooked or prices driven down so others don't take notice. Is the altcoin market used purely as a slot machine?

Care to make a particular example or two?  Be careful about putting too much emphasis on $Fiat price.  A lot of alternates are still worth the same in Bitcoin or have increased in BTC value, but their $Fiat value decreased because Bitcoin went from $1250 down to $255 over the past years.  


It's true the coins without gimmicky features and smaller supplies seem to be doing better, but in a long term position I think that's all an illusion of timing.  Litecoin, for example, for all intensive purposes has been abandoned (Charlie Lee left for CoinBase) and I don't think Litecoin will produce any ecosystem breakthroughs that will send it to the moon.


That's compared to Bitshares, NEM and NXT which seem to be working on ecosystem initiatives which could later pay off.   Bitcoin right now is 100,000 users according to the Federal Reserve and that is after 6 years.  That's compared to Bitshares, NEM or NXT where maybe one will produce some platform product that nets them a million users.

I would rather not give names because people will take it the wrong way. I know it's early days still and a lot of these coins that come out as heroes for a month end up at under 10k USD in marketcap after a short while with no volume.

A lot of the useful altcoins are boring and much of the funds are in speculative coins which are used to pump and dump to get more btc for new users.

This is the conclusion I have come too, sadly!
Although I would say 99% of new users would get badly burnt when looking at altcoin options for the first time.

Many of the coins aren't as useful as some people may think. Most of them are just a faster version (yet often less stable) of Bitcoin. There are some notable exceptions though. Unfortunately, the good coins often get lumped in with the bad ones.

The altcoin markets are influenced by hundreds of factors. Never underestimate the powerful spell psychology casts upon the market.

If you like useful coins you are a sensible person. And sensible people don't gamble.

The hype period in the beginning of a coin makes a coin over priced and way too expensive.
Later as the hype calms down the price goes to the natural level which represents the supply vs. demand intermediation. Sometimes there is no demand and the price might go pretty close to 0.

but now we are going slippery slope.

With the sole exception of Litecoin, alternates are used by > 10,000 users and none have been able to produce a proof of concept (neither has BTC).  Even King BTC, according to Federal Reserve, is only used by 100,000 after 6 years and yet it already has a valuation in the $billions.

If you actually valued cryptocurrency on their actual present day values (as in their adoption or lackthereof), BTC would only be $millions capitalization and alternates worth 1000s or 10000s.  Yes there is all this VC money coming into Bitcoin but that's a part of the overall tech bubble and if the tech bubble popped, so would VC funding for Bitcoin stuff.

In this market of everything being over priced and way too expensive, of course it's a boon for people who run scam IPOs and try to pass off $hitcoins as innovation.

Bitcoin is the only reason. At the end for a coin to be successful it has to be a good contender against bitcoin overtake that . But it is just not possible to do so due to less adoption . Honestly, I have never used an altcoin for any other reason except for holding it as an investment, and at some point most of the people holding it do give up on it .

Then you have all the people who bought at the top because of the hype. After the enevatible crash, you're left with a bunch of angry bagholders. Angry bagholders will kill community morale which causes the price to fall even further.

Yeah, I noticed that too. They'll also kill any subsequent rise by baling out at the first sign of a real pump.

And they love fudding the hell out of these boards.

yes wbb wildbeastbitcoin a legit coin with a legit dev but nobody is investing in it people buy pump and dump coins

I guess it is mainly because those useful features aren't actually that useful at all.. Just used to hype the stuff up..

Yes.  All buy wildbeastbitcoin.  Avoid shitcoins.

Most alts have little to no intrisic value, so unless they are acted upon by an outside force (hype or a pump), they tend to gravitate toward their natural value. In many cases, that value is zero.

Isn't it always just down to supply and demand? Most alts seem to be doing pretty badly in my opinion any way or 9/10 of them are gimmicky and just try to serve one particular niche or industry.

First of all, you should define what a useful altcoin is in your opinion  ??? The thing is, everyone has a other definition of "useful" and therefore everyone is investing in different altcoins. it is very subjective decision.

altcoin market is a milking cow that everybody tries to milk it as much as they can, and many new users just get to the cow when it's milk is dried up.

there is no usability for altcoins except the fact that you trade them for profit.

It's mostly pump and dump schemes.

Simple really, it's becuase people are too distracted by other alts that are giving them:

• Instant gratification
• Something new
• Ooo shinny!

it's cause people want to make 5000x times within a day rather than 100x within a year. Greed makes people invest in shitcoins with no value and because of that good coins suffer.

So many bad launches lately...What's going on???

I'll try to answer this question although I'm not the OP.

"Useful" altcoins are cryptocurrencies that have one or more of these  three characteristics:

- Coins with an unique feature (or are the first movers) with direct benefits for the users. Example: NXT, with its asset exchange; BitShares, with market-pegged assets; MaidSafe / Storj, Darkcoin/Dash (anonymity), XRP, etc.
- Experimental coins which explore a new approach to the standard features of a cryptocurrency, like new consensus algorithms. They can be considered useful if their approach has some potential advantage to other concepts. Examples: Peercoin (first Proof-of-Stake coin), Slimcoin (first Proof-of-burn coin), NEM (Proof of Importance), Timekoin.
- Coins which are actively used in real economics (buying and selling goods and services, donations ...) because of their large community, although they don't have a unique technical feature. Example: LTC and Doge.

Most of these coins are doing quite well (Timekoin and Slimcoin are exceptions). But sometimes the pumps of simple clonecoins overshadow them. That is probably what the OP means.

What we perhaps need is an alternative to Coinmarketcap focused at the long-term.

useful altcoin is rare. so you need short time profit.

how about crevacoin ?

http://www.crevacoin.com