Bitcoin Forum

According to coinmarketcap.com there are 668 coins on their site all trading.  Do they all do something different or are there a lot of copy cats and if so,  what do the 100% copycats have value?

Please show example if you can

Obviously not. 99% of coins do not offer anything that's worth holding above bitcoin. Some coins, offer some creative stuff, like Maidsafe, Byteball, Monero, Ethereum... but is yet to be seen if any of these have any realistic long term value.

For example, with sidechains, Bitcoin can do everything Ethereum can do (via Rootstock). What's the point of holding ETH then?

100% copycats may still have some value if they are not premined or not distributed through ICO. However there will be no any further development for this types of cryptos because developer team behind this crypto will not receive anything that can encourage them to deliver more.

On the other hand crypto projects that offer something different and are not copycats, can collect really huge amount of seed money through ICO which also ensures future development by those dev teams because of incentive they can get from each update they release.

 So on copycat coins why would they have value if there a 100% duplicate or clone of a coin.  What would make somebody like yourself by a coin that's 100% clone

No matter what alt-coins offers, Bitcoin can do it also but better.

While you were searching them, did you saw those couns budget? There are only some altcoins which offer you something new and maybe unique, that was the main reason of creating altcoin, developed bitcoin. 98% of coins in market are simply copy. It's better to look ICO's and decide if they really can offer you ehat you want or not, also try and use reputable altcoins to understand what they can to offer you.

really  ???

you've used bitcoin as a currency of late right  ???

It would be really nice if all the cryptocurrencies would offer something different that would encourage investors to buy them, but in reality it's much more boring than that...

There are 20 unique coins, 10 of those are very unique.

Only one thing they have Unique. Background story, but in the end they want the same thing.
Maybe few have some unique features like mentioned in post above most are clones of clones of some coin, but other then this i dont think they can have anything unique anymore.

no the majority do not offer anything new, but few of them like ethereum, decred, monero and zcash offer something that bitcoin do not have, they are for a reason the best coins to mien and to hold that you can find among all the crap coins, ignore all the other as a good project they are there just to fee your btc wallet

depends on timing bro today BTC transaction can stuck for hours while Doge goes very smoothly :)

BTC need improve some shit and will be ok - today some alts are working better but those don't use 300 000tx/day but like 30 000/60 000 max for ETH while in ETH those trasactions are from daps it doesn't really transfer any real value mostly.

That's true they offer something interesting story come with the idea to replace the bitcoin. But mostly is just created for shitty pump and dump scheme and disappear soon from the scene and let people with huge bags.

it actually is quite the opposite.
when you go deep into each of these altcoins you can see that majority of them are simple forks of other projects with nothing new. they just copy the code and give it a new name and voila you have a new coin!

and this has been getting worse these days. a new coin comes out and from that a lot of new coins spring out of nowhere and try to stick to the other one and get pumped!

we expect a unique project from all coins in existence but some simply just copy code and give their coins a different crypto name and have nothing to offer...except be a scam-coin  

In my opinion 90% are copycat,some developers are offering coin to clone for a fee and this is a brisk business here,what differ them from one another are their roadmap and how they are going to be used,only few coins are original in their algo.

you need to check them out yourself and decide for yourself. from that coinmarketcap site that you already visited you can find the announcement topic of the coins and pay them a visit. see what features they offer and ask them what are their differences from other coins.
if you can check the code yourself then do it too.

but most of the times checking the features is enough. and long story short i agree with most others saying 99% of the altcoins are copycats.

out of those 600+ coins there will be a lot of rubbish, a lot of coins just copied and released in the hopes of making a quick buck.  There are also some coins which offer something unique, examples others have listed above and one of my favorites right now WBB yet to prove itself but if it does it can be big.

The only way to really know as people will have different angles and opinions is to click through to the forum and have a quick read of some of the coins, you will quickly learn to identify a scam coin just by reading the op in the ANN section.

bump THIS ^

There is still alot of junk, also the mingling of ICO non-coins (assets class).

If crypto is going to be 'decentralized' then there need be 100s if not 1000s of independent block chains.

The BTC-maxi-pads can huff and puff but the ALTs are here to stay, and there will be more.

The issue is shit that pumps for 3 weeks then fades to black.  Slowly that is being mopped out.  There are dozens of fair enough launch and release projects that any solid 'community' can maintain and keep online.

It takes active participation.  If you are just looking to passively throw money at a project then stay in the top20 and good luck!

Hi OP, ofcourse they need to make every new coin offer something better and unique to other coin or else people will not patronize it.

The developers of all these coins claim that they are different with some unique features. But infact many are clones .There are some geniune coins also like ethereum and monero. If you are planning to invest in altcoins just be very carefull and have a thorough research about that coin. Otherwise one day you will wake to know that exchanges have stopped trading that particular coin.

All altcoins in real are copy cats,LOL ;D, if you are going to observe their features it came at the same way they will only change few things only but still obvious no originality. ;)

Well, they aren't really 100% copies. Take litecoin as an example. It has block size, mining and halving but the amount of litecoins is 84 million, whereas there is only 21 million of bitcoin possible. But yeah, these are minor changes.
Ethereum and Byteball are among coins really different from bitcoin and its clones. Ethereum is a platform with a variety of possibilities which can still be created.
Byteball doesn't even have a mining system and yet the amount is increasing with time due to the code. And both offer smart contracts which are hard to be performed with btc.

They are mostly created to attempt money laundry, or pure quick cash grab, if I "develop" a coin and list it in some low life exchange site then going there day after day hype it in troll box and pay a few people to talk about it and use a bot to buy and sell from and to myself just to fool the unsuspected newbies and even if 10 people each buy $10 worth of my coin every day then I could earn $100 guaranteed and with 100 coins some easy $10,000 daily, is that a bad thing?

Yeah sure they offer many things just not for communities but for a few selected group.

They all offer a unique way to take your money :p
If they are not unique it is most likely created to make a quick buck

Yes. For example, doge coin offers a funny dog meme and bbq coin offers an innovative bbq theme.

Exactly, daily we see many coins launching with difference cause of developments and with different unique thought. But it is not possible for us to predict which one has a great feature. In the beginning, everything seems to be great and when days are passing coins getting to scams.

Most of the coin doesn't offered anything special some of the developer just try their luck to launched the coin so it exactly copy paste from other coin, but some of the coin offered an unique feature like zcash focus on anonymity, but most of us just used alt coin for trading

Around 95% of altcoins are copy cats.Very few are unique.Monero is famous for its anonymity.Decred is the most under valued coin.Golem coin has been introduced based on a totally new concept.Doge coin and ethereum are other unique coins.

but I see most of the starters that make the coins and go make a thread ANN for ICO, but it seems there is no privilege in coin whatever they make, so I think all the coins nobody really be great in it but just luck took us No to create and trade on altcoin.

Some offer very unique ways to scam investors such as DASH,

you can learn more about the dash scam here: http://www.nasdaq.com/article/op-ed-a-closer-look-into-dash-part-1-cm760740

that's the true most of the alts only been seen as a trade advantage we don't look on its feature anymore just looking for an opportunity to earn coming out from that particular project, i seen PSB which wanted to cater overseas money transfer from several countries to Philippines they wanted to lessen charges but its not been seen by most Filipino's hopefully they will and start to use it.

Lets' see.

Ardor, blockchain as a service: (https://www.ardorplatform.org)

* designed to be ~35x more scaleable than Bitcoin.
* green proof-of-stake technology: no wasted electricity - a node can be run on a RPi3 at a negligible cost, no disputes with miners because users are miners.
* built-in versatile business tools: asset exchange, marketplace, voting, phasing, account control, coin shuffling, encrypted chat, rich API.

To be launched in Q3, 2017.
Currently in testnet: https://nxtforum.org/nrs-releases/ardor-v2-0-2e

Even though I am a noob when it comes to the issue of coins but with my little understanding, I don't see any difference in what this alts are offering simply because they all have the same objective which is to dislodge bitcoin so either way they have in achieving that objective, to me its still the same thing afterall.

The copycats have value in being unnoticed. If a whale puts it's BTC into it, there is no competition and nobody to slash the price down. Pretty rational imho.

There is basically:

Premined shared equally vs premined coins sold vs premined acquired by burning coins vs no premined.
Coin Limit vs no limit.
No demurrage vs demurrage (% of your money) vs Demurrage (X% of total coins goes back to the system, each user lost some % of this X%)
Transactions fees vs no transaction fees.
Proof of work vs proof of stake vs proof of X vs proof of Y.......
Amount of coins mined is always the same vs increase over time vs decrease over time.


And more....

Hey buddy, Dont forget even we are making money with this altcoins ,not the developers alone.  We make money by trading this coins . Dont forget that. For example in the present situation , people who are trading ether are making money.