Bitcoin Forum

This is a good topic for purpose of debate as I've noticed that some users keeps saying altcoins are scam( probably some but don't considered it all cause its not) . So I Invited those whose btc maxi and altcoin maxi here to step up and voice out your opinion here with the purpose of healthy discussion.

I myself get familiar with bitcoin first, but as I advance my experience on blockchain I started to see that altcoins are also have pros and cons. There are scams out there but for me we can't say all those majors or potential coins are scam especially if they are becoming a profitable one for others who know and responsibly using their basic knowledge for use case and profit case.

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If you are pro Bitcoin but still you do one of the following below then what is your sentiment on altcoins:

- Used centralized market to cash out your fund converting to usdt/usdc then to fiat.

-Using staking benefits on 3rd party app or centralized platform.

-Using gambling site with altcoin choices aside from bitcoin.

-Joining launchpads, ico, ieo, ido and any form of fund raising money

-Trading your btc to stablecoins or altcoins.

-Registered on cex market like binance, ftx, kucoin, Okex, and Huobi.

-Have axie infinity nfts  and some metaverse gaming projects.

If you are fudding altcoins but you do any of the above then what are you hypocrite?

Am I the only who cares to defend that not all altcoins are scam? I'm betting not. Btw I'm also uses btc so you can technically called me btc maxi. user

In my case I think I can be called Bitcoin maxi, since I don't use alts and I don't do any of the things you have listed. Although I did use some in the past but it's been a while since I only buy, earn and spend Bitcoin. 

Anyway, I'm sure some of what we call shitcoins will stay with us and have a use in society, no matter how centralized they are. The fiat money we use is also centralized and some people will even kill for it.

I think the altcoins being scams is just something a few bitcoin enthusiasts have (and it's probably not many of them either).

Bitcoin is the most proven fully decentralised and secure cryptocurrency but a lot of the other coins do serve a purpose in their own way.

I've met people that are very interested in other coins too (a few who exclusively like ethereum for example). Most altcoins are kinda experimental though too (so is bitcoin to an extent, but a lot of people have heard about bitcoin so its name carries value) but it does mean that you'd be taking quite a lot of risk trying to hold altcoins imo for a long time if you intend to just come back to your portfolio at a later date.

You guys may call yourselves BTC maxi but the real BTC maxi will surely not accept you in their fold.

Maximalists are those who take the extreme side of things. Bitcoin maximalists, therefore, are obviously those who only accept Bitcoin. They do not tolerate altcoins. It's Bitcoin or nothing. Theirs are close minds. They don't compromise.

And I guess we could consider those who are calling themselves Bitcoin maxis and yet use USDT, make the most of NFT opportunities, and so on as hypocrites.

AFAIK, someone who's been called bitcoin maximalist doesn't use any other crypto.

It's a good discussion to bring up someone's idea about being a bitcoin maximalists and as well as someone who sees some potential in altcoins. It's not a matter to me whether someone's a bitcoin maximalists or not.

The thing is, people can no longer ignore the potential of some altcoins that are also making rounds in the market. And that's why people are quick in jumping into different altcoins for their potential, what I don't like is the meme coins these days. Not hating dogecoin but it's that developers have took advantage of it to mislead people especially the newbies.

But we can't also deny that there are too many scams in most areas like in NFTs, rug pulls are everywhere.

Then you are a true bitcoin maxi. Thumbs up for that. Provided that you have used some alts in the past means something isn't it.

Yes 100% agreed. If those other altcoins served purpose means they are meant to exist and not to be called a scam one. They have been made to improve others lack of features like scaling and other blockchain usage.

Yes, ops sorry for the last statement maybe I should change that to bitcoin user instead of maxi. I've seen some who truly advocate btc in their such way. What I hate are those guys calling them bitcoin maxi, yet using usdt or any altcoin yet calling them out scam. Truly a hypocrite.

Thats what I'm talking about. Some here who don't uses altcoins have some guts to generalise all altcoin are scam as if they uses it. There are some and that's a fact but generalising it, of course some would disagree including me and I'm sure some other guys here too.

One reason I don't look into altcoins is the fact that most of them got forked out of bitcoin, So, the price of bitcoin affects every other coin in the market. But, recently, I have looked at some benefits and rewards people get from liquidity mining pools through alt coins and the profits looks good. I don't know if it's another means of earning as trading is not my thing. But cryptocurrency traders drive joy in buying different alt coins and I can't say for sure that I know why it's so. As for me, I receive any coin that has value in price and then swap back to bitcoin.   

I like etherem as well and I have some.
However,  nobody really  knows what will eth be in the future.

I saw an interview with antonopoulos recently,  where he was talking about it.

What will eth be? Ico, nft, defi, tokens? Everything is changing too fast and the goals are not clear. Now meta shows up, will eth be part of it?

https://dailyhodl.com/2021/03/02/ethereums-future-is-far-more-uncertain-than-bitcoins-says-andreas-antonopoulos/


Bitcoin goals are much more clear are objective,  since its creation: to become a global decentralized currency. Period.

I think it is worth to invest in altcoins,  as cryptocurrency might be a huge part of our future. And bitcoin won't be alone. But bitcoin is by far may main bet and investment

I love bitcoin and I love altcoin too. For different needs when bitcoin transaction fees increase then some low fee altcoin will be an option for me to use. I wouldn't say I'm one of those people who hate altcoin, actually I have quite a few altcoin in my portfolio till now.

I'm trying to find some reasons why people tend to think of altcoin as shitcoin, it's simply that they don't have any real use cases in different countries. Centralization is another reason why they have started to ignore it as a means of payment, but some of them may still use it as an attempt to make a profit. Neutrality without being hypocritical about altcoin is what I have done so far to make a profit especially on investing and trading.

It's really something you have to have experience with. Just sharing something from someone I know. That guy started 2017 with 15ish BTC. After a few months, he invested in a few altcoins. He was definitely up and was in profit in terms of $$$ even at the time of 2017 & 2018 bullrun but he was not anymore able to recover his 15ish BTC. Can you imagine? At the end of the day, he was a loser in terms of BTC. Shouldn't they call it a scam? I guess that's the point. Altcoins are there with their benefits but they are also here to steal your Bitcoin (some maxi already said that, I can't remember who it was).

Altcoins have use cases are good enough and if they can keep their use cases alive, keep their communities exist, they will survive in crypto market. They might not have big pumps, big growths but survive is a great success already.

Pumps or short term price rises are not indicators for success of a project. Long survived use cases are better ones to prove that a project achieves something.

In short term, bad altcoin projects can try to build up some use cases for their coins, tokens but after few months and in the end, they end with no active use cases, dead communities and project finishes its lifespan with death.

It's vital. Dogecoin does not need to have great technology but its communities, use cases contribute to make it as one of best altcoins with very long survival time in the market.

I've been seeing a lot of sort of "maxis" here that sometimes advocate for using certain altcoins(like LTC) when transferring funds in a quicker and cheaper manner(e.g. exchange<->exchange transfers). I think there's nothing wrong with it; because despite the likes of LTC being bad and unnecessary, it's just logical to use it at certain(albeit kinda rare) circumstances.

Maximalism is mostly the views/opinions; not necessarily that they're 100% banning themselves from using other coins when it makes things faster/cheaper for them sometimes. And I'm pretty sure a lot of maximalists trade altcoins as well, solely to increase their BTC stack.

I think one of the problems is just that a lot of maximalists still think that most of these altcoins are trying to compete against bitcoin, which is definitely not the case. I'm pretty sure every non-noob cryptocurrency enthusiasts knows that bitcoin won it's category already, and most altcoins(that are not straight-up trash like XRP) are pretty much just pseudo-equity(decision voting and revenue share) to certain platforms. No one cares about the likes of BCH/BSV anymore; we're not in 2016-2017. They can call the cryptocurrency space stupid, but it's definitely not as stupid as it was back then.

It can definitely be misunderstood. The common line from maximalists is "altcoins are scams", giving the impression that altcoins in it's entirety are scams; then when asked about it, they'll be more specific(and more realistic, which I mostly agree with): "99% of altcoins are scams".

Yes, I like FUDing Altcoins. * :) :)

Especially centralized Altcoins, so 99% of all Altcoins are affected. Let's call them Shitcoins.
In my opinion, it's important to have a detailed analysis of an Altcoin and everyone should call out at least the worst Shitcoins.

Especially XRP, BSV and Tron because for my impression, they are the most dishonest ones deceiving holders and Newbies.
Somehow, it's our responsibility to call out Shitcoins.
But if we start categorizing "worst ones" and "less bad ones" it's always an issue because people feel, some even very centralized Shitcoins are more legitimate...

After all, reading a lot also about Altcoins can be very interesting for people to know why Bitcoin has advantages.
Even the most realible PoS coins are still less legitimate because PoS has huge issues.


* and I own some  :P (to increase my sats)  :)

I feel that most of those telling that all altcoins are scams are people who don't care that much about bitcoin either as technology; all they care about is price and profit.
Then yes, since they've got disappointed or potentially disappointed by altcoins, they say a lot of things.

If one has a bit more knowledge or it's at least open minded, he can see that altcoins:
* can be testing ground for various ideas which may or may not get into bitcoin itself
* open new horizons - from smart contracts (with good and bad) to full anonymity or different ways of storing data and sending transactions

Yes, many (most!) altcoins and tokens were made only for quick money. But scams do exist in cryptosphere with and without altcoins / tokens.
Imho the altcoins that only changed the mining algorithm are more or less copycats/shitcoins and kinda doomed (and unfortunately Litecoin may be in this group too).

Unfortunately for the altcoins, their price is extremely dependent to Bitcoin's - because this is how exchanges were made and this is how people's investments go - and this makes them a risky (and often bad) investment. The fact that many were built as scams or became scams (or just deserted) didn't help.


I cannot tell much about DeFi and NFT though. They are imho not mature and not properly thought. Current way of handling NFTs is sub-optimal to say it nicely, leading to potential problems. DeFi had its share of hacks telling by itself that it needs.. something. But I was here in the golden age of ICO, hence this time I chose to stay away. I expect the current excitement over DeFi and NFTs end sooner or later, then we'll see what projects will prevail. I guess that will be few. I hope I'm wrong.

Apart from bitcoin, altcoin are a great option for increasing profit during a bull market. I don't agree that all altcoin can give us a commensurate profit, but the current list of 10 altcoin can explain that it can give us an advantage. I am not a hypocrite, altcoin have given me a lot of profit where it is able to give me the opportunity to buy bitcoin somewhere.

I agree with the opinion that not all altcoin are scams, but I believe we should do more analysis when we want to invest in altcoin. People believe in the future potential of bitcoin, but many people doubt the future of good altcoin especially the unknown ones.

Well definitely I would say I am Bitcoin maxi on this one, I have real no experience in Alt-coins I have to be honest, but I believe in research so far I have been able to avoid Lossing my capital every since I start to prefer Bitcoin, and I am confident in Bitcoin even if it drops so low today, it has been consistent for more years than I can even research on, but I have heard several sad story from people experiences with alt-coins, I have to learn from people rather than wait to be affected, definitely there are good alt-coins, but some of them has already gone high so it's still safer buying Bitcoin rather than risking same amount on them.

I'm a Bitcoin maxi and have very little time for Altcoins eventhough I have a very small
amount of Ethereum and Litecoin.

One thing with Alt's is the "When Lambo" following they get and the hype which surrounds
certain projects at a given time. The attention a project gets can eventually evaporate when
a new flavour comes along and the following shifts in the belief that the new project is going
to provide that Lambo, and on it goes.

As regards projects themselves, it seems the space is quite crowded, I'm there is a lot
of duplicity?

Bitcoin is what it is, it doesnt have a competitor.

My gut feeling says only few of 'em speaking truly know the definition of the words they speak.  See the reply previous to mine and you will know what I mean.  Too few know what a Bitcoin maximalist is and most of our Bitcoin Talk users seem to only be calling themselves this way when the conditions are met for a potential merit drop from someone else.

Not all Altcoins are scams.  There are in fact a few notable ones like Monero that still do not get the attention they deserve.

When it comes to Bitcoin maximalists, I perceive them similar to the way Peter Schiff has been perceived by most of us.  He seems or seemed to only appreciate and agree with Gold and Silver investments and was fully against Cryptocurrency investments or usage.  Maximalists will always exist in both of the Bitcoin and Altcoin ends.  To say that everything is a scam in the Altcoins world is indeed wrong.

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Regards,
PrivacyG

So can you give me that 1% of yours that isn't considered scam. I'm not sure about that, but if youre doing one of the above I've mentioned, then where is your position in this debate. Are you in favor of altcoins or patronize btc but still doing some of these I've mentioned.

I remembered you promoted avalanche some quite time ago. I'm not sure if you like that or you'll convert that to sat as well.

What if this is just the beginning. I've tried some of these defi products that's work on financial aspect like lending and borrowing and earning or yielding interest which is good that I may not be able to use on btc aside from holding. I believed the next hype is the full blown metaverse.

Some people are trying to redefine the term "bitcoin maximalist", maybe with good intentions. But the fact is that this term was first created and is currently mostly used as name calling when the altcoin bag holders have no arguments against the flaws others keep pointing out in their shitcoins.

So let's not sugar coat this term.

Majority of altcoins are useless garbage made for pump and dumps, however there are only a handful of decent projects out there which nobody can deny. But since the top altcoins that are talked about the most are in fact shitcoins, it may be the reason why you thought people are calling "all" altcoins scams.

You should try not to confuse "pros and cons" with "serious flaws". For example a premined altcoin that is also centralized is seriously flawed, you can't define any pros for this altcoin even if it is being pumped and has given you a lot of profit.
It is like trying to talk about pros of a car such as its comfortable seats while it doesn't have an engine!

This is the main problem with cryptocurrency world in general. People are blinded by the profit they make so they ignore the serious flaws. For example almost all of the "most profitable" top ranking altcoins have mutable blockchains (in simple terms it means your transactions can be reversed if the centralized authority saw fit to reverse it), which means these coins should not even be alive let alone be pumped this much.

Does anyone even do this thing? It sounds silly! If you want to go from bitcoin to fiat then just sell bitcoin to fiat. Why sell it to another centralized altcoin then convert that to fiat by paying twice the fees?!!!

No you are not alone, I will defend that not all altcoins are scams but also I defend that majority of them including the top altcoins are shitcoins.

We all knew bitcoin is the ultimate decentralized platform. I'm not talking about xrp as one fo those potential one. I knew of it. I don't know eversince when someone talk altcoin you busted them liek there is no goodness on them. I know your a bitcoin maxi and will always be and I am gonna wait until you used any altcoin in the future and see what you re gonna say about that.

Yes many, of course if you are a trader then the bitcoin is up, of course you always convert that to stablecoin then if you feel like withdrawing that you'll use p2p. That's more often do on Binance. Yeah you'll never know cause you don't use that. Many here uses that so stop making like a bold statemetn that is anyone still doing that. As if no one do that.


Yeah exclude those shitcoin like memecoin but fundamental projects like ethereum and some rising fantom and those L1. Yes there are premined but you forgot the use case they gave the people which I'm sure bitcoin will never do. That's why there is an advantage. Why you are here in crypto? To earn right? I can't believe that it's not of your goal here. So whats the difference of us earning in bitcoin and altcoins?

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Stay on that side of the road I guess but we those who believe in potential of SOME altcoin as long as it help us on our potential financial then why do we called it scam. Yes there is scam out there and its inevitable but don't let us believe that some of us who earned from it is made out of scam. I also hold bitcoin but you can't deny the fact that we multiply our portfolio more than we can by holding bitcoin alone.

I have studied a dozen altcoins in depth at a technical level and have tested more than 50 of them. I'm greatly disappointed.
To name a few: LTC, DOGE, ETH, XRP, DASH, BYTECOIN, TETHER, BNB, STELLAR, TRON, IOTA, EOS, ZCASH, NEO, ...

The only thing I consider a serious project is Monero despite its terrible scaling issues.

That doesn't answer my question.


A centralized altcoin with mutable blockchain and fundamental protocol security flaws with a massive 72 million premine and an ICO scam that has also has a much worse scaling issue compare to bitcoin is not even a decent project.

No. I'm in cryptocurrency world for the technology and I'm in bitcoin to reach financial sovereignty.

There is nothing wrong with that. You don't have to accept my opinion but I'll continue expressing it and won't change my opinion until I'm proven otherwise.

There is a different between trading altcoins to increase your bitcoin balance and bag holding altcoins thinking they have a good future. I also do the former but avoid the later... :-*

No one can match up you here in terms of technicality and that's a fact maybe some others could. Your only basis of your dissapointment is the tech itself whether it can't scale or whatever in depth analysis you were saying. How about the simplest usage of it. For those others who doesn't have skills and deep knowledge on blockchain like yours, you can't simply level them on your toes. The basic that helps them the better which have found some on those shitcoin you mentioned.

Obviously you are in for the tech. But I'm not gonna believe earning isn't your also goal. You just made it sound cliche but reach financial sovereignty? You are in signature campaign earning bitcoin. Let say that the Chipmixer change the payment into ethereum would you still continue the participation? Can anybody suggest that to the manager and let see whose up for the money or the truly bitcoin maxi will leave since their payment would be an altcoin now.

Maybe same goes for me. Keep your opinion and I'll keep mine. We have different beliefs regarding this aspect.

Atleast you admit you can use that on trading but that's bad. You are using the altcoins (their capacity to pump) to file more bitcoin. I thought bitcoin maxi never gonna use altcoins whatever purpose they do. But using in trading. Hmm.

Maybe until you stop using altcoin for whatever purpose you used it then stop calling those even major coin as scam if you are setting order on trading and selling when they pump.

Altcoins are centralized and there are many scam in altcoins. See what I read about DeFi some weeks ago

https://www.bitcoininsider.org/article/143113/centralization-issues-are-biggest-culprits-defi-attacks-certik

I was thinking to make it a topic but I am thinking it is not necessary. Altcoins are centralized and scam is plenty in altcoins.

In just 2021, over 13 billion were stolen just about DeFi scam, there will be many more that are not recorded.

What I also noticed about altcoins is that they are deadly in bear market, some will decrease value, bring loss to people that buy them and will not increase like before.

See what Philipma1957 wrote which I see to be true


Altcoin will bring most accident which is scam.

Altcoins are very volatile, it is the cause of many liquidation, bitcoin is volatile too but not like altcoins, I use altcoins too but I reduce my leverage after many liquidation when using 3x which is perfect for bitcoin.

What I hate about altcoins is that none is completely decentralized. If some nations are adopting coin, they will adopt bitcoin because all altcoins are controlled in a bit by their founder unlike bitcoin that will have to pass through the community first.

My friend lost money to DeFi last year, a very big amount of money.

People need something new, some hype, now and then, some new trend. See fashion, colors, perfumes, even the look of your smartphone and browser are governed by "trends".
I guess that the same goes to financial experiments. There will always be something new for baiting small fish and make some smart guys rich.
And why not? few of those inventions may be actually good and stay. Actually I guess that a few of the 2017/2018 ICOs are still up and running too.

I think eth also has one of the largest crypto communities (after bitcoin and crypto in general) which means it or a version of it will likely stay with us for a long time.


Everything changes very often too with eth and I don't think some of the old parts of it lose out (icos aren't completely dead yet, and even when they are I can imagine some sort of initial exchange offering being set up instead for some coins - if people want them, they'll buy).

There's also going to be a lot of changes with the fundamentals of eth as to how it's mined and there may be differences with how the chain is stored too for a more decentralised approach.

If you are smart, altcoins can be good for you but very risky, it is like gambling in some ways, I have a friend that got scammed of a coin created on Binance Smart Chain last year that was to be launched on December 1 2021, he invested and lost all his money. You know what that surprised me, he sent me a screen shot of the coin called Dxswap, he had the coin on trust wallet, when December 1 came, it was a scam, the coin was not seen on trust wallet again, those are ICO. There are many ways many people are scammed with altcoins and new projects but the people that have experience can still avoid many mistakes and make money from it. What about the DeFi scam, even it is not about professional, anyone can be scam. What I am seeing is that altcoins are leaving ways to new inventions but inventions that create more ways for scammers to be happy.

Okay so i will call myself as bitcoin optimist and long term btc investor and holder and if you can call me by the term maximalist thn it's completely fine with me because i don't trust any altcoins anymore because of plenty of the reasons but i would not call them scam even though but only shitcoins as pooya87 have already said.I will make more clarification on this part:

1) Scam coins : They are the altcoins that have come into the market with the intention of rugpull and scam people through raising funds and then pumping up the coins which will be followed by team running away and network shutdown.There were some instances of these scam coins like the most famous bitconnect and the latest one Squid game tokens which was the case of rug pull.So they are completely dead and people loose funds forever.

2) Shitcoins : The term is associated with altcoins that have no potential to grow and serve zero utility to the holders.For example if you were holding some meme coin then what's the use case of them? They were rising only due to influence of Musk and you know people are blind by the greed and started investing in them but after the whales took out the profits the prices crashed and billions were faded away from the market.Doge was reaching higher and higher in top 10 on CMC but now see it's not anymore.So the shitcoin is like they can rise or not as there is no guarantee and have no strong use case.Like they are centralised,less security, high transaction fees and unlimited supply so it makes it shitcoin compared to btc.

So you see for me not all alts are scam because your funds are safe but not grow in them and some are really scam so you need to be extra cautious with them.

I have made several threads for the same like this one :  Reasons why I prefer Bitcoin over any other assets and dips don't panic me.... (https://bitcointalk.org/index.php?topic=5375489.0)

It's not about use case in different countries they are questioning but actual real world use case. Their main argument is you don't really need a different crypto for a particular project because a utility tokens' main purpose is to be use as a payment method within that ecosystem. Some of the use cases like staking, governance, and other stuffs are just made up.

Well,  I don't particularly like the "BTC vs. altcoins" thing. As far as I'm concerned, they're all cryptocurrencies.
Sure, BTC is the first one. Nobody can take that away from them. But to say only BTC is a true cryptocurrency is like saying Mercedes is the only car in the world.
There are lots of scams, that's also true. There also are, as of now, almost 17000 cryptocurrencies listed in Coinmarketcap, and a lot of them are NOT scams. Sure, if you only go for BTC you greatly reduce the risk. If you go for the top 10, you will also reduce it (albeit a bit less), and so will you if you go for the top 100. You just have to keep an eye on it. After all, it's your money.
Now, if you want to just buy crypto and forget about it, I guess BTC is a no brainer. But also is ETH, for example. There's no way you can lose money on either one.

It will always stand that wr have legit altcoins and the shitcoins/scamcoins in the blockchain space because of some selfish individuals but this can not extinguish our passion for these digital coins.
And btw when we make comparisons between the two i think we are being affair as we should look at these to be compliments to each other and not competitor's of some sort. Crypto is here to stay so lets inbrace both coin families.

Yes, Avalanche is an Altcoin where I see at least some innovation happening. It's a great technology behind it but still some classic Altcoin issues like PoS = rich getting richer, where it's no problem for rich people to increase owned stakes easily at cost of normal participants. Luckily, Avalanche has a capped supply but I would be very happy to see the "rich getting richer" problem adressed by the devs. PoW is far superior here.
And Avalanche has a huge dev premine. Especially for a PoS coin, a huge dev premine is clearly a centralization issue.

But out of all Altcoins, I would say: Avalanche is a promising coin, because it's still very new and when it's getting decentralized over time by a supportive community, I beleive it has potential to flip ETH, especially if ETH 2.0 gets delayed again for a long time.

Among all the criticism you said. At least you get to recover it with this statement. Yes they got huge premine, but we all knew there is some lock on that and I'm pretty sure with their current status now, they wouldn't be greedy to dump that on the investors just like that. We can't deny that most of alternative coins have premine, but what could we do about it right? Satoshi have his own share of btc I guess but he didn't spend it or dump it. All I can say is trust the system. Avalanche will be one of the top coin out there and definitely will happened. Just like you said, eth is slow now and we're looking for new one that can compete what they lack and that's is scaling.

BTW you still hodl your avax?

It is one of my goals.

No, most probably I will leave since I don't consider ethereum safe and it is a hassle to constantly having to convert it back to bitcoin on each payment every week.

I usually call tokens scams not the altcoins. I never trade tokens either, I trade altcoins even if I consider them shitcoins.
There is a difference between shitcoins and scamcoins, by principle I don't want to be involved in anything I consider to be a complete scam.

There is no lock at all. In fact they sold a tiny portion of it to become millionaires some time ago. They are now trying to push the weaker algorithm (PoS) so that they can print money out of thin air by just owning that huge premine and then sell that without selling their main stash.

You can't seriously compare the two. First of all nobody knows how much bitcoin Satoshi owns and secondly any block that Satoshi mined could have been mined by anyone else (many of them have) whereas any premined coins could not be acquired by anyone else they were printed out of thin air with no cost or work.

Then that is truly a remarkable conviction patronising bitcoin. Salute you for that sir!


I'm pretty sure it's the same thing when you weigh your description.


I'm not sure, since they disclosed that on vesting which is saw on blockchain. Maybe some aren't transparent but I'm sure the one I invested aren't like that.

Just like you said. Nobody know Satoshi asset on bitcoin, and surely we also don't know if his only wallet are disclose how about potential other wallets. We knew how smart he was. I'm not saying he have a dummy account but probably could right? Point is, those who have vested tokens on the team deserved some tokens whether it's a huge one or not. Of course it's scary that they could dump that anytime but that's where the team uses burning of tokens to prove to community their sincerity. I likely defend some cause I live with the altcoin world. But I understand your perseverance to warn others about altcoin since few got dark plans and hidden agenda. We also on altcoins don't want that who want ls that anyway.

Yeah, it's about the generalization that they give to every altcoin that it's a scam. But the thing is, there really are scam projects and altcoins but there are also legitimate projects and altcoins that shouldn't be ignored by them.

That makes them think and say that all of them are scams and if there's going to change their minds, we don't know what's that because that's their firm belief on it.

I really have found some opinions and also thought about this and actually this exactly happened in the crypto industry. Many people hate altcoins so much but they are still doing those following lists.
Btw, I am a fan of Bitcoin, the first one is for Bitcoin. But, I am not a hater of all altcoins. I mean that I will not generalize all altcoins are scams and only Bitcoin that is legit.
I wonder that many altcoins may be scams, shit, or others. But most doesn't mean all.
Some altcoins still have very good fundamentals and they are also used for good utility.
I am sure that many people are also aware of this condition. Some altcoins are also worthy to trade or invest. But we cannot also ignore that there are so many shitcoins and scam coins coming to again and again.
That is why we must be more and more careful and smarter in choosing the altcoins if we mind to.

It's really difficult to say what a team is doing with a premine. I'm not saying a premine is 100% negative, there a quite a few reasons for a well-managed premine especially when so many coins are your competition.
Avalanche has some community programs but it's not really transparent how much is allocated.
Aren't devs dumping some coins?
Giving coins to affiliated projects?
Giving coins to friends?
We can't say because it's a centralized premine...
We have to trust the team, like you said.

That's an advantage of Bitcoin, Bitcoin didn't need a premine. Bitcoin was launched in an environment that can't be created again. When the majority of coins was mined, there were an high percentage of people mostly interested in the tech. No greedy VCs etc.
Such a situationcan't be created again.

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Yes.  :)

Totally agreed about bitcoin there. Just cant help myself in the financial side to get along with these new projects which shown potential. VCs can be there but sooner or later it could be more decentralized as those coins are leaving those greedy cunts and transfer to a deserving communities.

Wow congrats. I assume you are either a validator or delegating those tokens you have right.

Bitcoin still remain number one in the cryptocurrency industries that drive other altcoin in the crypto market which does not mean that altcoin is a scam, many has been invest on altcoin and get a huge return investment, take a look of shiba Inu, which really open so many people eyes on short time investment.

No, I'm not a validator and also not a delegator.  :D
I'm not a validator because setting up and maintaining it is quite difficult (I'm not a coder). I have read a review about it and it should get easier sometime later.
But I'm also not a delegator because PoS validating / delegating is still not clear by German law. Austria has defined a law which will be applicable in February but Germany has not published such a law yet.

Avalanche has a capped supply anyways.  :)

Oh I thought you are since Ive since you early promoting it during their campaign that time before they launch. I remember it cause Ive also joined their campaign that time. Can you give me your honest opinion, about its growth? Like their random sampling tech. Their all about subnets and Im sure thats a unique approach when it comes to delegation and result of a good voting on their network.

What's your question exactly?  :D
It's growing like similar TOP 10 Altcoins, especially from new DeFi applications but also inventing new applications like subnets (like you said) and ILOs.
Growth can be seen by specific statistics here: https://stats.avax.network/dashboard/c-chain-activity (c-chain)

But I don't know if it's off-topic here, maybe it's a question for their ANN or if you need more detailed questions, for an official dev.

Honestly, I also laugh real hard when I read here about users calling anything aside Bitcoin shitcoins. It's even more hilarious when I read about my compatriots louding and cheering that point of view here. I'm cocksure that these compatriots have enough alts they're bagholding. Why join in fudding while you're also secretly patronising and hodling the same thing? Sincerely, that attitude beats me hallow too.

But of course, you're not the only one. There is a battalion behind you. Those who lambast and categorize all alts as shitcoins will advise investors to buy from top listed alts if they wanted to safeguard their investments. To me, that sounds ambivalence. Quiet alright, Bitcoin is the pathfinder in this industry but that doesn't distort the fact that there are great alts too.

There is no denying that the bitcoin will always be the number 1 project in crypto and even at the time like this, its the only one that create volatility on overall market. But in terms of usage to such application theres no doubt there are far more greater to do with alts, Im not talkimg about peer to peer transactions since its the only usefulness of bitcoin unlike altcoins which can be used on defi product that works similarly like bank. Anyway, lets just fight for what we understand about it. Not everybody are on the same boat and has different perspective when it comes to this.

I know Bitcoin maxis won't like this comment 🤔. But if they will be honest with themselves they should know that ETH and most alts have this over Bitcoin. No matter how centralised they want to classify certain alts and condemn them, they should never be in a hurry to forget the usecases of these alts. Most of these alts continually advance this crypto industry. That's a fact. Sentiments apart. That buttresses the point that we've to be objective in our assessments at all time, not minding whose ox is gawd.

Im just telling the truth mate. I also used bitcoin but other than holding it, trading or used it on peer to peer, honestly I dont know what else could be of used. Yes can be used for payment to some establishment but its the same with altcoins too. But can you used bitcoin, on some use case such as nft? staking? (own platform probably impossible its not PoS) or gaming or anything? Aside from holdinh and trading. Maxis will definitely outline negative of altcoins for sure. Of course I know of them too. Those shitcoins or pnd coins. But when I refer to altcoin environment, I am specifically aimign for thise uselful one.