Why alt is important

[KennyR]

To have competence and to have better knowledge about cryptocurrency. Whenever there is something new in the market we can see more similar things reaching the market following it. Same as that we've got altcoins as a support system. Things never grow, if there is no competence. In that way altcoins serve as a competing asset.

All altcoins aren't good for investment. We need to know the right one and make the best out of it. There are good number of altcoins that have provided good profit for the investors. With altcoins we can't trust much, for which we need to consider it for short term and book our profit and with the profit we need to go for further investment. This method will not disturb our capital.

[poodle63]

I would say that Altcoin was created to make it balance in the cryptocurrency world.  Even though BTC can be easily manipulated, people can choose what to invest in since there are a lot of altcoins and they have differences in their value.

A lot of people would invest in Altcoins since it is much cheaper than BTC and can hoard as much as they want and wait until the value rises up.

I disagree with BTC can be easily manipulated since the market capitalization is already high enough that I don't think even investment firm with hundred of millions would easily influence the market, its always unified movement of reacting against the news that caused the market to change direction.

but I do agree the fact that altcoin as its name implies alternate coin, can be alternative for those with lower investing money so that they could invest and get quite the profit because most of the value and market cap of these coins in general aren't as high as bitcoin, even ethereum is hardly following bitcoin therefore quite good investment options for the little guy aside from the fact that there are many scams.

[wxa7115]

I would say that Altcoin was created to make it balance in the cryptocurrency world.  Even though BTC can be easily manipulated, people can choose what to invest in since there are a lot of altcoins and they have differences in their value.

A lot of people would invest in Altcoins since it is much cheaper than BTC and can hoard as much as they want and wait until the value rises up.

I disagree with BTC can be easily manipulated since the market capitalization is already high enough that I don't think even investment firm with hundred of millions would easily influence the market, its always unified movement of reacting against the news that caused the market to change direction.

but I do agree the fact that altcoin as its name implies alternate coin, can be alternative for those with lower investing money so that they could invest and get quite the profit because most of the value and market cap of these coins in general aren't as high as bitcoin, even ethereum is hardly following bitcoin therefore quite good investment options for the little guy aside from the fact that there are many scams.

It depends on the person trying to manipulate bitcoin, it is true that those holding fiat will need a massive amount of it to do so, and the closer we get to the halving the greater this number will become, but for a whale holding bitcoin this is not a problem, as it does not matter to them if bitcoin skyrockets, since the number of coins on their wallet will not change.

Still it seems to me that at least for the time being there is not much of an interest in trying to manipulate the price of bitcoin and instead whales want to support it, as if the price of bitcoin is already high when a bitcoin ETF gets approved then their profits will grow considerably once we get a confirmation that this has happened.

[Publictalk792]

Thanks for telling about alts and how can we make money from them. I like that you gave examples like TIA SATS GROK and RATS. These coins get a lot of hype when they listed. But thing is that alt are important because their prices are low and some coins have potential to grow and can hit 3x 5x and 10x or more. Therefore we should accumulate some of the coins.

Like we have an example of SOL coin it has already done 4x from its low price in bear season.
But the main thing is that we should choose a coin with a proper research we should take a look on the purpose on team on their structure on community of any coin. If we make a proper research so you will be able to select a good coin and can get better profit.

[jrrsparkles]

First of all, I am against the idea of seeing cryptocurrencies and their future only based on the trading perspective, and imagine if Bitcoin was only for investment then we wouldn't be witnessing this amount of growth in such a short term compared to traditional assets so the users see it as revolutionary to other assets also it gives returns though.

It's true that altcoin listed on Binance will give returns of 60% or any amount but it won't even last for a month and if that is the only goal of an altcoin then it better not be existing in the first place.

[GeorgeJohn]

I'm responding based on the important of altcoins, so therefore I believe that altcoins is important based on its something that makes the market of cryptocurrencies to be competitive and without the numerous altcoins that is in existence I believe that one particular coin wouldn't directly and officially make  the market of cryptocurrency to be valid, because is due to existence of bitcoin that wouldn't have make cryptocurrency to be well developed interest for investment

[tech30338]

Some altcoins in the market are just made to make money and run while others are made to have use in the community and the future, while it is dangerous to invest in coins that are just new, you have to remember what altcoins you really need to invest and not just coins that you see catchy names, you have to dig deeper if it has future if you really want to invest on unknown coins well you really need to be a risk taker and prepare for the worse, but everything has risk since the price is volatile.

[dansus021]

Why alt is important for me it is simply because the altcoin is part of the cryptocurrency ecosystem. Bitcoin has always been the king that paved the way to another coin. take the example of Ethereum from one single coin like this there are so many applications that evolve every day.

From the Ethereum alone born another chain called Layer 2 completes the function of layer 1. Crypto is growing and altcoin is gonna be part of it.

[Freddie Boyer]

RATS (Token) - A BSC replica of the BRC-20 token, rats. Token trading began in the early hours of today and the contract shows no apparent risks. Its 24-hour trading volume reached US$29.3 million, with significant price fluctuations.

I don't like seeing this token move very strangely, if it goes up quickly, the recovery takes up to 15 days, even more, if it goes in, you have to calculate from the highest rise and then it goes up again, what is the average recovery period.

Why alt is important for me it is simply because the altcoin is part of the cryptocurrency ecosystem. Bitcoin has always been the king that paved the way to another coin. take the example of Ethereum from one single coin like this there are so many applications that evolve every day.

From the Ethereum alone born another chain called Layer 2 completes the function of layer 1. Crypto is growing and altcoin is gonna be part of it.

And one indicator of the growth of the digital currency world is seeing significant growth in altcoins.

[Rasa nanas]

Some altcoins in the market are just made to make money and run while others are made to have use in the community and the future, while it is dangerous to invest in coins that are just new, you have to remember what altcoins you really need to invest and not just coins that you see catchy names, you have to dig deeper if it has future if you really want to invest on unknown coins well you really need to be a risk taker and prepare for the worse, but everything has risk since the price is volatile.

That's true, but we can also choose investments with relatively lower risk by choosing bitcoin or large altcoins such as ETH and BNB. Investment is like two blades, if you only chase profits and ignore risks you can lose everything. I mean the profits from investing in large altcoins are smaller and take longer, but the risks are also relatively lower. but if you choose to invest in new altcoins maybe you can get big profits in a short time, but the risk you accept is much greater and you can lose everything because of your ambition to make big profits in a short time.

[Questat]

snipped...
BTC is always the king.

Despite the appreciation you've made, still you admit that Bitcoin is still the best option among cryptocurrencies.
And based on the list that you have, those pump and price rallies are not actually the factor to think about and consider that those projects are worth investing in, they are just made with hype and turn into a scam later. Because for me, old altcoins have more potential than these new sets of projects - replicas, clones, etc. Honestly, the majority of these new projects are made to just ruin the market, not to help it grow.

[el kaka22]

I do agree that bitcoin is the king could be the most important part to take away from this. I mean we are talking about a situation where it would make sense for people to make some money based on bitcoins guarantee. I get that bitcoin may not have a guarantee in the end, but it is still quite good and should be considered a good deal. I get that we are looking into something that should be a little bit risker to make more profit, but to me bitcoin does have a "guarantee" that it will go up and nothing else does.

This is why I believe that we should keep investing into it. The problem is that we are talking about a situation where we could make some profit from bitcoin or end up risking it all and lose all our money with some alts.

[synchronym]

In case of investment we can invest in Altcoins as well as Bitcoin. In case of investment in Altcoins one must check the market. No wrong coin can be invested then maybe you will face loss. I have always preferred to invest in Bitcoin. I once invested in Altcoins Mim Coin. Mim Coin was pretty good even though not that much profit.

[SeriouslyGiveaway]

It seems like you're only considering the importance of Altcoins in terms of profit rather than delving into their underlying platform and real use case—how they contribute to the long-term development of this market. If you only look at profit, I think Altcoins may or may not matter; there are countless other Altcoins to replace them.

However, if you consider the platform and practical applications, it's a different story. Take Ethereum, for example. Imagine what would happen if there were no Ethereum one day—the impact on the market at this moment is something you can probably imagine if Ethereum were to collapse. In my opinion, that's the real significance of an Altcoin, not just how much its price increases.

[wxa7115]

It seems like you're only considering the importance of Altcoins in terms of profit rather than delving into their underlying platform and real use case—how they contribute to the long-term development of this market. If you only look at profit, I think Altcoins may or may not matter; there are countless other Altcoins to replace them.

However, if you consider the platform and practical applications, it's a different story. Take Ethereum, for example. Imagine what would happen if there were no Ethereum one day—the impact on the market at this moment is something you can probably imagine if Ethereum were to collapse. In my opinion, that's the real significance of an Altcoin, not just how much its price increases.

You have a point but realistically most people only care about how something may benefit them, so while a coin like ethereum has been essential as it has allowed the birth of many other coins, which have also become influential on their own right, they do not care as the profits that can be had with ethereum are not as high as what you could have gotten before.

This is in fact very similar to what we see with bitcoin as well, in which many newbies decide to ignore it, even if it is the best coin on the market and the one that allowed it to exist to begin with.