Bitcoin Forum

i think altcoins should focus more on technology sector of the economy, with this they will attract more investors and users

Altcoins are trying to focus on the technological aspects of the economy but what's ruining them is their business sense! Since last 2-3 years, we have seen thousands of ICO projects flooding the market with equal numbers of tokens and a promise to solve equal numbers of problems that doesn't even exist in the market.

The altcoin creators need to underatand that people are not willing to have thousands of different coins for thousands of different activities. Only one coin can solve many practical problems and a range of foreseeable issues in technological aspect of the economy.

Bitcoin and few other altcoins like Eth, Eos, Dash or Litecoin is enough for the masses. We certainly don't need separate coins for paying a restaurant bill and buying movie tickets. One comprehensive ecosystem is more than enough!

It still doesn't take away the fact that they are still cryptocurrencies and will still be in the control of bitcoin. So far we have learnt the bitcoin is the king and rules over all other coins and their successes are determined by bitcoin's existence. The crypto space is already built on blockchain technology I wonder what other technology different from the existing one that will be built.

True. I really like it when projects are aiming to make the future better, especially when they are applying or doing it for the technology. Binance recently listed a quality coin (https://www.contentos.io/?utm_source=lx) as they donated a huge chunk of BNB to a Blockchain Charity, that right there is investing for the future. Small things like that will definitely help us move forward through mass adoption and to have a better tomorrow for the crypto community.

While I was in crypto activities, I liked it because of its sophistication. Competition in Altcoin lies in the concept of whether the advanced technology between Altcoin and Altcoin, such as Ethereum and Ripple. There are some people who say that Ripple will defeat Ethereum who has extraordinary sophistication. I mean, the focus of Altcoin right now is on technological sophistication.

Truth.

The great majority of altcoins claim to be producing something next generation, e.g. 4th generation blockchains, scaling solutions, second layer chains etc.

However, what we actually need are altcoins with viable business economics. The vast majority of these projects aren't set for the long term, and they go from being overhyped sh*tcoins to actual sh*tcoins with zero value.

People need to stop giving these projects money, only projects with a proven business model should be funded.

Most of them are focusing more on that sector but how many of them succeeded? very few of them. But most investors now have woke up from the devastation that they've met last year and the true nature of most altcoins. I think we don't need more altcoins, we should've more focus with the existing one and improve it on what they lack of.

a lot of altcoins say that they will create new tools for easier use of new technologies but 60 percent of new altcoins just talk about it but don’t do it

they are attracting more than enough investors already by focusing on nothing but new ways of scamming. and that is all they want, they want money and a lot of it in a very short time. and since most of those participating in this market also want the same things (fast profit) they don't care about utilities.
the end result of this trend is a lot of altcoins that have no use cases other than being pumped and dumped.

what the altcoins must focus on (that is if they want to survive in long term and have actual usages) is usability. they must start thinking about what they can bring to the table that is different than what we have already seen with bitcoin while taking care that what they change doesn't make them weaker and filled with bugs.

Yes, I agree with you on this if altcoins focus on the latest tech, they might get more attention. That's a pretty nice way to make crypto adoption ture.   I hope in future projects must look into this amazing option. But I've noticed that some project's main point is to increase cap and volumes instead of making tech better and better.

They are already focused on this sector, because they do not have another opportunity to get higher on coinmarketcap. If you want to launch a successful coin, it should be fast, cost efficient and have some working product to be competitive.

They are saying that on their whitepaper and roadmap and ask people to fund them so they can create and complete the project, unfortunately, this is something that investors should be very careful because they are using, this promise to ask people of their money, the best investors should do is to check who are the people behind the project, do they have the capability to complete the project and what are the past projects they have done in the past.

Unfortunately 99% of alts investors are more concerned about price instead of technological development, i have seen some project who are have dedicated their time on developing a product for their project and this has affect the price greatly since their attention is not on fake pumping of price but produce real product, but some how many are not happy with that but rather too concerned with price. So investors are only concern about price nothing else.

You are right,many altcoins are just created for nothing but pump and dump,developers should start taking advantage of future techs and build projects based on real working products for demand to be available for coins and tokens.

Im less worried about this because with time new investors will become smarter and they will only invest on altcoins that are useful,its already happening

Of course, investors worry about the price because it is their money. people invest in a project to make money, and but not because technology can improve our world. you need to look at this world realistically

I agree.  An investor exists to invest his money in order to make a profit.  Technology does not develop from investors.  I believe that these things need to be shared.

As i notice most of new crypto-currency projects was modeled from already existing cryptocurrency base platforms, like cryptopayments,cryptobanking,etc. thats why many new crypto projects is very familiar because of these reality investors and users are not amazed with these copycats future projects must be innovative, bold and unique technologies to cope the ever changing cryptocurrency sphere.

A lot of altcoins have been made so many technologies that related to the economic section but the fact that the regulation has already prevented them all to develop more and more innovation.
Remember to create a new tech-related to the economic system is not easy while the majority of people are still putting their face on the traditional economic system.
So many platforms have brought the decentralized economic system but again the regulation was preventing it and that gives limit for altcoin to get more investors.

Of course!! All altcoins focus on technology but the situation is too redundant. Technologies are almost the same and they waste too much money on it instead of marketing

I agree. NULS is doing a pretty good job at this.

And what do you think that they are doing? NEO is a example of smart economy. But the question is if this concept will be ever implemented.  ???
Altcoins offer many solutions, but do we really need these solutions?

Lets think about it.
Bitcoin was created as an alternative to traditional financial system. Bitcoin is solving a real problem.
Altcoins were created to make a problem and solve it.  :D

The main problem with alt coins is some coins are completely unknown in bear market so they should completely focus on developments irrespective of bear and bull market then only they can stay in the market

every bisness or technology need time to develope if you mean ot scamprojects. you talking like capitan evidence.

When coin become famous in a bull market, this does not make the business of this coin successful. Until now, most coins gain fame for a short time and only for the crypto community.

As for altcoins and technologies. Blockchain is convenient for accounting financial transactions, for maintaining chronological records of any kind. Cryptocurrencies, like blockchain derivatives, are also good for finance. But how can this be used, for example, in computer technology (as an improvement in technical characteristics)?

You are right, altcoins should place more focus on the technology and real life usage which will help create demand for their coins and attract investors
Like the CEO of Binance said that the next bull run will be as a result of adoption and not hype like the previous one.

Hey peers, many people nowadays trade altcoins but only a few mine, why?

I suppose that mining equipment is very expensive, right? And only few people can afford. Just look at the prices for example on this site: asicequipment com.

Yeah, I see, but 1500-1900 USD not a huge price per piece, You may invest them in shitcoin and turn them to 0 dollars in a few weeks.

But there is no right sense in such trade. But mining can be profitable in any way.

And what about this site? How did you find it?

Asicequipment? I know them for sure as a friend of mine ordered there. By the way he paid back soon, in 6 months, rather quicke yeah?

Hell yeah! Only 6 months? How did he achieve such quick result?

Due to high performance of the miners and low cost of electricity. In Venezuella electricity costs 4 times less then in US. Moreover shipping for him was free from asicequipment, so no problem in paybacking

However many people still mine in US, and have their income, is there a sense in mining here?

I think we just need to stop repetition of projects
Most altcoins today are copy cats and duplicates; which is why it is difficult and hard to find investors anywhere

I think yes, as the mining is highly spread in US, asicequipment are from US as well, many people and companies are involved.

Altcoins should primarily focus on the real benefits that they can bring to people. If they have real use in people's lives, they will find many investors in the crypto market. Everyone is tired of regular exchanges, casinos, bitcoin killer altcoins, etc.

Investors are always interested in those projects that have a real product , or a product that works , but in the market they are very small, as everyone is trying to earn fast and create new coins every time.

They are certainly doing that as a real profit will always work to deliver and they understands that when they show results the price will follow.
However, it's the nature of the market that people love to speculate, not only the development of the project would make the price to increase but the team should also learn to make some hype to attract investor, and they should be smart enough to do everything based on timing.

For example, this year, when altcoins is not progressive, making good announcement regarding project's development is not always attractive because investors still has the fear in putting their money and they'll rather put it in BTC when the overall altcoins market performance is poor.

They should be and I think some legit projects are now doing it that, and they are making progress, developers are still confined in creating a new token creation platform, because of the issue of scalability each platform are facing.

Ethereum founder Buterin just admitted that Ethereum scalability is full and they might use other platform's chain, those top coins in the market who are also token contract-based are all challenging Ethereum dominance in the market over them.

Security tokens are becoming a new trend now. I think there will continue to be developments in the cryptocurrency market. After ICO, IEO appeared and now the developer team chose STO. Investors will definitely choose the best and the safest. In my opinion, security tokens will change the face of cryptocurrency and it could be that large companies will seek funding in the cryptocurrency market