Bitcoin Forum

There are hundreds of altcoins. What is the use of altcoins?
For example, are there places that accept payments with altcoins? Or is it just used to convert bitcoin?

They're used to buy bitcoin, that's basically it.   Look for places that accept dash and you tell me if you find anything worth buying.   I've looked and found nothing--and dash is one of the biggest.  Doge actually has a strong community,  but the 100s of others are complete dog shit. 

altcoin not only for convert bitcoin but no you can also buy something using altcoin.

Are you mean about the usefulness of altcoin?
Pump and dump, profit or loss.

Yes, there are.

In a conclusion, the final cycle of the accepting the altcoin payment is for exchanging it into bitcoin.

As of now altcoin is used for trading to make profits, till now altcoin is not implemented like bitcoin because we can make purchases with bitcoin. With altcoin it is not possible to buy any thing only to convert them to btc.

Most of the time when people created alt coin it is to become number one crypto currency replacing bitcoin, and a lot of alt coin offered the speciality feature, like less transaction time or security for anonymity, but most of used just used it to trade bitcoin, the lack of interest and too many alt coin causing alt coin is only going to be bitcoin's shadow

the first about used altcoin
iam use dogecoin, because fast sending transaction and very low fee sending
ussualy iam use dogecoin to gamble
another dogecoin iam trade altcoin is cheap price, and ethereum,monero,litecoin

BRILLIANT. 

This fucking forum is going to hell in a handbasket.  Shitposting has gotten so bad with all these dumbass replies.  You people are ridiculous.

Some of them can be used for buying. Like Potcoin and Hempcoin for some Marijuana stuff. Gamecredits for some games (probably crapy ones). Guldens are accepted in some stores in NED. Probably other coins also somwhere. But mostly used for profit, by miners,,traders and scammers.

I'm just gonna leave this here: https://www.deepdotweb.com/2016/08/23/alphabay-oasis-markets-begin-accepting-monero-payments/

altcoins are supposed to be used for newer technologies, trying out new ideas, improving the blockchain technology that bitcoin introduced to public, and many more things. and you can see many of these in many of the altcoins. but what happens in reality is that altcoins are used for trading only, there is no transaction apart from a trader sending to exchange or from exchange to their wallet to sell later.

and to be fair there are some potential here and there but they all have so many weak points.

There are no many stores that accept altcoins for payment method mostly
altcoins there are no use they be made just for trap the investors who put the money on there
after developers of altcoins get much money from investors, they don't update the coins.
You can guess they go away and making new scam altcoins on other time in the future.

it is mainly for trading. which means you invest in them, play around and make some profit (profit on your bitcoin) so if you are good at trading you can make more bitcoin.


yes there are. but majority of them don't even know what payment is :D
and as examples I can tell your litecoin (which you can find shops on litecoin.org and using google), I saw some Dogecoin (you can mostly find them on reddit.com/r/dogecoin), and monero because of the anonymity feature of it.

there are a couple of them like FTC, Clam, ETH,... that are used in gambling, but that is not payment or using as currency. so the rest are just for trading.

They are suppose to be a currency that is like Bitcoin.
Bitcoin has a very small amount of adoption and Altcoins have even less.
The purpose of any currency is to be USED by people.
That has been a struggle in the Altcoin world because that does interest the people around here.
Profits do.

If all these people wanted altcoins adopted they would be.
But in reality what all these people want is Bitcoin profits which can be used for big cash FIAT money $$$ payouts.

ACTIONS SPEAK LOUDER THAN WORDS.

https://encrypted.google.com/search?hl=en&safe=off&q=Define%3A+Currency

From what others have said I believe that is exactly what the developers themselves have in mind for creating it in the first place. Their motive is create a coin, we get it listed and thats it thinking people will start using it as currency as a substitute to bitcoin. Nothing else and thats basically the extent that the coin will go and immediately the support is not coming the coin just turn to shit. Its just something created to make some profit in bitcoins and nothing else.

Good question but most of these Altcoins are shit coins and they are currently good for trading, people normally fall victim to dev's at the ICO level when they are lunched with enticing white paper and roadmaps making people believe it's got a future because an artificial project( gambling website, dating website, music or social media website) are going to be created to use the coin in question so there will be demand in future. This anomaly makes Altcoins irrelevant at present except for trading purposes.

several altcoins can be used for gambling

for example directbet accepts litecoins, ether, dogecoin and dash(and bitcoin too but bitcoin is not an alt)

I think you can find a gambling site for every major coin around

Doge can be used on these sites:

https://muchmarket.com/ (https://muchmarket.com/)
http://shibemart.com/ (http://shibemart.com/)
https://www.suchlist.com/ (https://www.suchlist.com/)
http://dogerr.com/ (http://dogerr.com/)

and on OpenBazaar with the Shapeshift integration (https://blog.openbazaar.org/openbazaar-1-1-10-released-purchase-with-ether-monero-and-more-via-shapeshift-io-integration/#.WISdWbNRXmF).

technically speaking you can also use altcoins (any of them) to buy stuff meaning using them as a currency because they have one thing in common and that is the fact that they all inherit the currency part.

but the question is "can you find someone who is willing to accept that altcoin in exchange for some goods?" and the answer is a big fat NO!

Altcoins are mainly used for trading by pumping and dumping and gaining huge profits.Some altcoins are said to have transactions which is anonymous and kept secret and no one can know trace transactions and find the holders whereas in bitcoins, every transaction is found in a public ledger and holder can easily be traced.For example, Monero is said to have ring signature and its transactions is said to be anonymous and for that reason only such coins are welcomed by dark markets.

Despite being many of those "Alts"   maybe really a few have a purpose similar to BTC or try to improve some aspects in their own way, but still there are many aspects that would define the success or failure of these, two clear examples LTC and Doge can be considered successful for some, but for others not so much, so  for now and as you mention it, yes some peoples use these just to make a profit.

Altcoins are created and used by whales to accumulate more btc for themselves. None of these altcoins are usable and accepted by others at the moment. Most of the coins are nothing but promises and hypes used to dump on newbies. There may be some alts that has potential but most of them are scams.

This is also my understanding about altcoins. Altcoins is not yet to used to buy anything like bitcoin. We used altcoins to trade it in exchanger to gain some profits. We convert altcoin into bitcoin generally. Thus, altcoins is mainly used for trading the dump and pump scheme.

But why using those coins when you can use bitcoin? i could understand if it was zetacash or zerocoin or monero, because those are anonymous and can be used on the dark web and bitcoin can not compete really well with them, but the coin you mentioned doesn't have any advantage over bitcoin, their only purpose imho, is that you need bitcoin to acquire some of those altcoin, which mean that they will indirectly increase the bitcoin value, they are good for the bitcoin market

another reason is that they are good for a minor investment to have more bitcoin, when you find a very cheap one that might increase ten or hundredfold in the future

In fact, each new altcoins comes out to solve a specific problem. And the main purpose is to become as popular as btc one day. But over time, it becomes more of a transport medium for bitcoins in the exchange sites.

1.To store value and as a hedge against inflation.
2.To create and experiment with decentralised applications

when likened to the bitcoin as usd and altcoin it as the currency of any country and the system is almost the same, usd as the reference price is the same as that for the reference price bitcoin altcoin.
it is my opinion?

Actually, Altcoins are created for fixing Bitcoin's error and moved to forward cryptocurrency technology. but Im GENERALLY (not completely) using for avoid by Bitcoin's dump. Except (ETH,ETC,XMR,LTC).

Online stores have their own choices of what altcoin they would prefer for their transaction. Besides, it is an online store so they would need one. If that certain store is supporting one altcoin then they would use it for the sake of pumping it even for just a bit.
One more reason to use it is for trading. I see that with this alts you can somehow create profits even if you have just a small amount of bitcoin. They are not too expensive unlike bitcoin.

They are a vehicle for slow learners to use in their bearing of grievances.

Or they are a way for quick learners to use in their seeking of fortune.

Practically, yes there are few some places that altcoins is accepted as payment in the other country, like dogecoin, litecoin, I don't know eth, dao etc. and altcoin also use for buying bitcoin once its being sold in the trading platform.

I do not think it's the best way to describe it, maybe instead of "error" word should be try to improve some aspects such as efficiency and capacity of BTC, some others will refer to the privacy approach maybe.

Altcoins are usually just personal preference of payment. Merchants don't have to use USD/JPY/EUR to purchase things online, they could just pay everything via altcoin and the people will get discounts if the price rises.

There is an Altcoin called GCoin: https://bitcointalk.org/index.php?topic=665858.0


GCoin allowed people to purchase some electronics within their online store with a discount and the people that used GCoin also have a community of people to share there experience with. That coin is a good example to show what it is that I am writing to you about.

I see altcoins as something similar to stocks. You can choose to invest and bet on the future, possibly the next bitcoin.

You can't use stocks for much, except to cash it in or hold it. Until an altcoin becomes more convenient and useful than bitcoin, there is little reason to accept something other than btc.

In crypto world there are many altcoins out there that has been rise up, and most of it called shit coins but there is several few altcoin that are legit, also some are accepting altcoins as mode of payment too, like eth, dash, and lastly altcoin main purpose is to make us easily to buy bitcoin through altcoin it may not direct to get it but with altcoin we get  bitcoin as well.

It is mainly used for innovative technology and different coins have different purposes for example liteCoin is silver to the bitCoin's gold etc

What's the technology has offered by litecoin? Even the coin was similar into bitcoin and i don't see something is innovation although with the fastest block rather than bitcoin has make it different with bitcoin.

Gambling and trading. But I do hope there will be more to this. Maybe like a game in which they will use this kind of currencies. Sure it will grow the popularity of it and many will trust it. It just need to make sure that the game will be good to whereany will play it.
It is really advanced now and the games are still using copper, silver and gold. That should be changed.

True , it has hundreds of advantage but the main purpose of altcoin to launch is to make money by the owner .
Suppose you launched your altcoin , if people will use your coin more and more then you will get profit of transactions charges which has been deduced from the account of the altcoin user . In this way you can make unlimited profit but condition is that your coin should be use as much as possible .
Here is no doubt that altcoin have much advantage for the bicoiners and I think most of the bitcoiners are making profit in legit way only through the altcoin investment ( which us know as trading ) .

In my opinion The altcoin is a main part of the bitcoin world , without altcoin earner of bitcoin money will not get much opportunities of earning .
If any new coin launch , which is altcoin , then bitcoiners have the opportunities of invest thier money and get some profit .
With the existence of the altcoin beside the bitcoin thier is option of making money by investing bitcoin in altcoin as an trading .
Third thing in altcoin is that we can mine them like bitcoin , and if the price of altcoin increase then profit in altcoin became more than in  the bitcoin  .

So ur swimming in it :)


https://yobit.io/?bonus=zduka

95 % of all altcoins used only for speculative trading on market. Nothing more. Even Ethereum used only for scam pyramids, doublers and trading.
Real sphere of application have MOnero (i mean darkmarkets) and Bitcoin. And nothing more. Also maybe Litecoin has some sphere of application.
2 alts and bitcoin. Hundreds of alts. Crypto is dying)))

There are websites that accept Altcoins like directbet.com tgat accepts ethereum and I think dodge coin and litecoins even though it's a betting site and you can easily convert your earnings into fiat or bitcoins. Secondly Altcoins are used to sustain Bitcoin interms of the trading market as there are a lot of fiats against Bitcoin but now with the evolution of digital currencies they are relevant to assist in trading .

EEEEHHH. casinos and other kind of scam. As i know, it's not a good commercial for cryptocurrence. Where real stores with real goods ? Electronic devices, machines, hotels and others services?

There are sites that are accepting payments through alt coins, so it is good for using for paying as long as the site that you are using is accepting that alt coins you got. And there are some alt coins there are their own platform and supported projects like augmentors game, they have their own token for the game. The rest are just for trading purposes.

Very simple, no other than trading.

Altcoins are to bitcoin, what bitcoin is to fiat.

bitcoin was meant to be a currency, used to buy stuff better than fiat and overrule the establishment fiat coins.  But in reality, if you want to buy stuff, fiat is still more useful, and *actually* bitcoin is used in a kind of greater-fool-game betting to *earn fiat* in the end.

altcoins are meant to be a currency, used to buy stuff better than bitcoin, and overrule the bitcoin establishment.  But in reality, if you want to buy stuff with crypto, bitcoin is still more useful, and *actually*, altcoins are used in a kind of greater-fool-game betting to *earn bitcoin* in the end.

for now there is not too much things that can be used for alt coin, the most usage is on gambling sites, other than that alt coin is only used for trading, but somehow I believe one day there will be few alt coins that can compete with bitcoin but before that happened we need to attract a lot of user to used crypto currency

Sometimes altcoins can be trying to improve the basic principles of bitcoin for better exchanges, especially the obvious ones like Ethereum. Some of the smaller ones are pretty useless though and tend to just be used for an exchange with bitcoin. Those ones seldom get anywhere and are super high risk if you invest in them.

Yes I agree with you, at least I used altcoins just for trading on exchangers usually on poloniex,
because I don't have projects related with altcoins.
But sometime I will use altcoins for gambling because there are some site gambling that accepte
altcoins become betting are like litecoin, ethereum and dogecoin.

I really don't know what are the other purpose of alt coin but I only know is that some alt coin are just created only for trading purposes or just existed to exchanges in order to be traded and to be a short time investment . but as far as I know some other alt coin are already used and treated as secondary to bitcoin just like monero, zcash, and doge which is used for bets in a certain gambling site .

being used in gambling sites is not sign of that altcoin being secondary to bitcoin! it only shows that the particular gambling site had players willing to test their luck to multiply their altcoins.
the majority of coins are there to be traded only and nothing else.
and in only rare cases you can find some actual development and features in those coins such as Monero and Ethereum although they may have so many faults like eth has.

For now altcoins most of the time is being used to convert bitcoin, only few altcoin are used to altcoins too. But investing alt was also a good thing to do to add it from one of the assets of yours. But be careful on choosing altcion there are many just a shit coins only.

yes, indeed in the world of crypto can not be separated from trade, but would be better if you save it and wait for traffic cain was nice so trading will be very profitable.

LOL, wrong.

The altcoin has used for generating more money for everyone. through the altcoin someone is be able to doubling his amount caused by the price increase. it looks like digital money factory.  :D

I think for now altcoin is use for buying altcoins too, because when you have an altcoin then you sell it and being sold it will directly goes to your balance in bitcoin, where you have a chance to buy altcoin again. Yes there is altcoin that accept payment in the other country like litecoin and dogecoin.

altcoin apparently made to expand cryptocurrency so we could enliven the crypto world and make it easy for beginners just to get Bitcoin and altcoin.

Spectrecoin has an actual use -- PRIVATE international remittances.  It's an anon coin with an app that will facilitate remittances between parties around the world via a cell phone.  That is the application that crypto can solve right now other than dark market stuff.  For the rest, crypto adoption is a long way away because there is no pressing need for it.  I can do everything with my fiat and debit/credit cards, so why would I need crypto to pay for things other than the 'cool' factor.  Dark markets and remittances are another story.

Altcoin is a way for poor people to make money on the internet.