Bitcoin Forum

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.

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.

some casinos accept some of them

but most coins aren't accepted anywhere

^^ true .

WBB (new name soon) will be being used by major insurance co's in the coming weeks, so that's good at least!  8)

Yeah, most of the altcoins are and will never be used for anything else than speculation.

Those coins include mainly copycat coins, which never added anything to the mix other than a lot of hype and promises.

There are also quite a few promising projects with real world potential.

Nxt decentralized exchange is actually used by some business for profit sharing (since 2 years and a half now).
https://nxt.org/

That the best alt around imo.
You can check all the changelog here:
https://nxtforum.org/nrs-releases/

Nxt is strongly support by the core devs.

It is actually Nxt third birthday today.

effectively nothing's being used. but i don't believe a crash is imminent. i think everyone implicitly knows it's all bullshit and empty hype. there'll always the be desire for a pump. that desire might move to new coins but it's not going anywhere.

I agree with this position as most of the developers are only interested in the money that will come from ICO after the initial hype, then it dies off also most of them dont give it necessary support to the coin if anyone is still existing after the time frame you stated and later they will say they want to replace Bitcoin. Is that how it is done? I won't be surprised if the ones we are having now can't even stay that long.

Which ones are you talking about specifically?   Regardless,  you're right.  No one spends them, but that doesn't necessarily mean they're useless,  and it certainly doesn't imply that they don't have value.  The bigger ones do, most are headed for the Yobit graveyard though.

Some alts are developing commercial systems around them. You can earning steem by writing on steemit. And you can buy and sell things using steem on peerhub:

https://www.peerhub.com/

Some have uses in fact some altcoins has their own merchant stores like Doge,Ethereum and litecoin but majority of them are just for trading purposes,and clone of existing coins,but there are profit to be made trading these altcoins.

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?

Bitcoin isn't very far off either.

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.

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.

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.

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.  ;D

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.

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

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.

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

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.

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

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)

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.

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.

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 .

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

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

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.

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!

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

Not all altcoins are useless, we should consider the coin adoption, if the coin managed to attract adoptions, it will be successful, Ethereum, Monero, Litecoin, and Dogecoin are the most adopted altcoins now, considering that Ethereum and Monero got that adoption in short time, and we may watch new coins join this club, the crypto world is open for every new idea.

Not all coins are the same, many have determined support from devs and holders. insane coin had no ico, the coins were and are still being given away and the premine is being used for development not dumping. insane is here for the long run, and also working on real world usage systems.

On-Topic..

What i see here is a glaring problem.

If a dev created a coin say Litecoin for example.
Then it's up to ALL OF YOU to use the fucking thing.
Instead what i see is all of you sitting on your hands bitching at the dev saying he failed to get it adopted.
That is you fuck up's !
That is a YOU problem greedy investards.
You want your god damn ROI'z so bad then get the fuck off your ass !

Or you will have no choice but to jump from new shitcoin to new shitcoin.. forever.
Chasing ROI'z

Dumb fucks the US Federal reserve can print money but if you all did not use then what good is it ?

The blame is placed squarely on the profiteers shoulders.
Altcoins are not adopted because you all don't give two shits about adoption.
That would be work.. unpaid work.
And you ain't have'in it !
That is someone else's job..

And you can say the same about BTC ?
No you can't  :D

Yeah we all know BTC has a small adoption level compared to FIAT but when compared to Altcoins..
How often in Crypto is Bitcoin used as a currency in order for people to acquire Altcoins ?
THAT is in fact currency usage / adoption.

The Pirate Bay using LTC as a donation address on every web page on the site is what got me started in crypto.
THAT is adoption !
That is a currency used as such.
Not a speculation thing on exchanges.

You all know what you have to do but you won't because it's work.
Why work for your ROI'z when the next coin is around the corner ?
Nothing is going to change with users in Crypto willingly.
They will have to be forced.

Don't expect things to improve if you can not be honest and blunt about this stuff.
I have said lots before i don't cast a light on the bad crypto stuff simply to harm crypto.
But to acknowledge a problem and hopefully get all the ducks in line to fix it and move forward.
Admitting there is a problem is the first step to fixing it.

If you all want this crap to succeed then we got work to do !

Its just a normal thing on all creations on which there are useful and there are total garbage and you are right not all altcoins are garbage hence there are still some coins do have potential and an adoption which they are  famous among others but I admit  even though there are good altcoin but most of them just totally die on a short period of time and there are instances that even ICOs on alts became scam.

Some diehard fans are keeping XMR, and the same is for DASH. I personally keep some altcoins as a reserve of value. So yes, I'd say there is some use.

I can say you are 99% correct, except for Factom that I know is making money on her own other projects are only backing on potentials, the real thing is to start making money, there is no need to holding a token of any ALtcoin after two to three years without actual real world use and customer.

Indeed. It's easy to be cynical.

It's a lot harder to face up to problems and put in hard work or change behaviour to drive a change for the better.

there is nothing the people can use any of the altcoins on. in other words in case you wanted to use an altcoin there would be no place, no business, service or merchant accepting it as payment. so we are all left with one choice: trading them.

besides there are stages for any altcoin to become useful, the first one is the adoption and the beta stage and then it has to be accepted. but because all of them stay in the first stage and get pump and dumped there they end up die.

Well it is a nature of altcoin. for now many people are developers are trying to make altcoin that can be useful they are just making it but the adoption is from other people or sponsor who want to be as bitcoin.. it is depends in people who are holding it and if they want to support and adoption altcoin it can be just the same as bitcoin but they are almost all afraid to be lost many altcoin are not success instead like you said it can be dead in the end.

People will surely divide their minds or do have some hesitations regarding on investing their money on a particular altcoin even to those famous alts because people know that bitcoin is the main crypto we should invest to and believe too. They are not totally useless because some alts do have the potential too but not as good as bitcoin. We cant really blame people because they are just following on which they believe.

Monero was supposed to be the end all be all solution for darknet marketplaces. I remember when the huge pump happened and it was all over the news... now months later, im still waiting to see that big adoption. Not that I go in those marketplaces but as far as I know, everyone buying shaddy stuff is still using bitcoin. Therefore I know no alts that get real usage.

except not really, you can see many more interesting features on other cryptocurrencies. Even with altcoins you can have faster confirmations/blocks, which is preferred by most people.
The only real advantage is its user base. Meanwhile the other cryptocurrencies can evolve faster, because they also have less groups trying to shape according to how they'll most benefit.

i am glad to see others are also realizing this fact about altcoins. i was just reading another topic in this board about 10,000 altcoins and buying pizza with it! and it is the same story, nobody is really interested or capable of using altcoins.

i bet that less than 1% of a particular altcoin users actually own the wallet of that altcoin, they just buy and keep on the exchange until they dump it.

that's the problem, they just want to get a stake and dump asap to make a profit, simply trying to create value out of nothing, and don't care about developing or actually investing in it.

Since we all know altcoins do not have any real-life use, let's just continue our jolly life trading altcoins :D :D

Everyone can easily notice that a cryptocurrency is maid to be used, now if you create an alt without an end-point like casino, merchant, service, then it is pointless to create it.
Untill now there is only one crypto who have a large enough ecosystem to survive, and it is Bitcoin. Steem won't stand for long as the only reason to use it, is powering up, litecoin still exists because you can do a lot of things with it, doge is in the same position as litecoin but cheaper.
So if you want to have a strong crypto, you should first think about end-point, what peopl will do with it, and "donation" is not an option because no one will buy an altcoin to donate it to someone else.

You just explained why BTC is in fact better.
You don't want a small group making radical changes that can compromise the security and integrity at a whim.
Major changes with BTC should go at a snails place and yes have a lot of input.
This is an asset to the coin.. something Altcoins fail at.

What i find amusing is what you said is intended to bash BTC but all you did was highlight how it's better.

This once again shows me how stupid Altcoin profiteers are.

By the way.. name me one single currency innovation from any Altcoin.
And no i do not consider anon features anything but a step in reverse.
So other than that example there is NONE what so ever.

Every two bit little shithead that dabbled in coding before thinks he can show up here then run his fucking mouth because he's now some big shot fancy schmantzy crypto'z dev now.

WRONG

You are just another douche with a me-too-coin.

Something a trained chimp could do..

Want to impress me pricks ? Start by coding your own Block-chain system instead of aping it for your own shit then crying innovation.

You "Dev's" by a car off the showroom floor then change the wheels & muffler then strut around like some cocky big shot with all those innovationz !!!111 So buy my ICO tokens !!!11

..in return for bitcoin  :D

What we need is a purge again like when Scrypt ASIC's came out and there was a mass exodus.
We need most of you here to think profits are gone and then we can give you a little nudge to GTFO.

We don't need shit heads loitering around trying to make a buck.. off anything that will give dem ROI'z.

Which is the vast majority of crypto dipshits.. and their uber leet "Dev's"

Maybe more retard brats with no coding experience should make a coin for MLM scammer corps ?
Me ?
I am in m Leo Tower heading down to the Leo Cafe because my Leo Android Phone Leo Info App just told me the Leo Exchange is ready for my buy orders.

jeez i can smell the fucking ROI'z from here :o

Blow me ROItards  ;D

that's true, each needs a strong ecosystem surrounding it, otherwise it won't attract people.
If ethereum didn't have so much problems, it'ld be in a better position because the smart contacts system has potential.
When writing the whitepaper of my cryptocurrency, i structured the digital ecosystem i was envisioning for it around financial, commercial, entertainment and miscellaneous services (things like notarial/certification systems, data-oriented, intranet/private communications, ...).

EDIT: @Spoetnik: i wasn't bashing bitcoin just pointing out known things that other cryptocurrencies do better. But anyway, i do think you have some issues... specially when you're pointing things unrelated to my situation

Exactly! How about creating a small ads. site like Craigslist, Backpage, etc. that strongly encourages all transactions to take place in Altcoin, or even has its own which you can maintain in an account? That would be cool. Does Newegg still accept Bitcoin? Doesn't look like it...

Problem is there is a dilemma that can not be avoided.
End users will of course see & hear and be confronted with more options for Bitcoin vs any Altcoins.
So they will quickly wonder why should i use some Altcoin instead of Bitcoin ?

And if there was a real working solution that it would be apparent and the value of some Altcoin would probably rival Bitcoin's.

It's not enough to sit around chanting i am the greatest.. you have to be the greatest.

Problem is you are all so far disconnected from the concept of a currency that you are in la la land.

Not sure what to do..
Users need a reason to side step Paypal or Western Union or Interac eTransfer or simply bank to bank etc.
Security is tantamount people and this bullshit does not scream security now does it ?
It screams RISK and that is a massive population turn off.
Bitcoin has already been regarded as a Silk Road criminals and guns coin for years.
And now Ransomware people are forcing the public to buy them.

We need to see reality and deal with it.

It's possible all you profiteers and your scammer buddies have fucked up any potential of wide spread adoption i have said long ago many times.

The damage is done guys.
Context + History can not simply be ignored while you think you are planting a rose in a sea of doge shit.