Trust in altcoin and cryptocurrencies

[Bushuqa]

The main issue with altcoins and cryptocurrencies in general is TRUST, so how to make sense of all these altcoins popping of every day? The fact that anyone can create a new currency? Isn't this the whole problem? Thank you for your expert advice

[dearbesz1219]

The main issue with altcoins and cryptocurrencies in general is TRUST, so how to make sense of all these altcoins popping of every day? The fact that anyone can create a new currency? Isn't this the whole problem? Thank you for your expert advice

I don't see any wrong in trusting any altcoins as long as the project is attainable and achievable also realistic to be happen. Though we knew that most of the scammer they used altcoin to seek for a victim here. But still there is a legit altcoin/cryptocurrencies that we can entrust for.

[sabbirshm]

Anyone can make altcoin but only few ICO project is unique.You should avoid these kind of ico where the following things you will see..

1.Stay out when you see a newbie open ico thread without personal details.(Sometimes the personal details totally fake you should investigate)

2.ICO Without escrow, Don't join.

3.Read the whitepaper.

Etc you should follow.better buy some coins from phoenix exchange.

[Spoetnik]

See my SIG link and then read the PDF.. and UNDERSTAND what it says.

[freshman777]

The main issue with altcoins and cryptocurrencies in general is TRUST, so how to make sense of all these altcoins popping of every day? The fact that anyone can create a new currency? Isn't this the whole problem? Thank you for your expert advice

There is not a big issue with trust as long as you understand the technology you invest in and developers of the coin have proven themselves through hard work and dedication. It usually means the coin needs to stick around for a year or two before it can be put into the pipeline to be considered for investing. Both of these points mean that you don't look below Top 50 of www.coinmarketcap.com. Top 50 is all you need to wrap your head around, and I don't mean all of them, I mean these are the ones that have proven themselves, more or less, and you got to pick gems from them that shine for you.

[dearbesz1219]

The main issue with altcoins and cryptocurrencies in general is TRUST, so how to make sense of all these altcoins popping of every day? The fact that anyone can create a new currency? Isn't this the whole problem? Thank you for your expert advice

There is not a big issue with trust as long as you understand the technology you invest in and developers of the coin have proven themselves through hard work and dedication. It usually means the coin needs to stick around for a year or two before it can be put into the pipeline to be considered for investing. Both of these points mean that you don't look below Top 50 of www.coinmarketcap.com. Top 50 is all you need to wrap your head around, and I don't mean all of them, I mean these are the ones that have proven themselves, more or less, and you got to pick gems from them that shine for you.

Your advice was totally cleared as water actually, I know your statement are truly tested  and it is true that if the coins are listed in the top coinmarketcap, common sense is the way and simple things to understand of what are we going to invest in.

[BitcoinHodler]

The main issue with altcoins and cryptocurrencies in general is TRUST, so how to make sense of all these altcoins popping of every day?

first define trust?
what are you looking for? do you mean as an investment or as a currency to use?
it is usually an investment so is it ICO or just a simple trading?
and remember that you are not trusting with your life it is just an investment that you make temporarily and pull out as soon as you can.

The fact that anyone can create a new currency? Isn't this the whole problem? Thank you for your expert advice

this is both the problem and a good feature.
because anybody can pick up what others have left off and improve on the already created code because of it being open source. but it is bad since they have been thinking about money only.

[pereira4]

Anyone can make altcoin but only few ICO project is unique.You should avoid these kind of ico where the following things you will see..

1.Stay out when you see a newbie open ico thread without personal details.(Sometimes the personal details totally fake you should investigate)

2.ICO Without escrow, Don't join.

3.Read the whitepaper.

Etc you should follow.better buy some coins from phoenix exchange.

What phoniex exchange? You mean poloniex? Anyway, most ICOs are scams, and don't get fooled with a coin's "uniqueness", sometimes that uniqueness is just a simple gimmick that offers nothing of actual value. Very easy to trick people into thinking it's the next big thing. Remember: everyone wants your BTC.

[tunctioncloud]

The main issue with altcoins and cryptocurrencies in general is TRUST, so how to make sense of all these altcoins popping of every day? The fact that anyone can create a new currency? Isn't this the whole problem? Thank you for your expert advice

There is not a big issue with trust as long as you understand the technology you invest in and developers of the coin have proven themselves through hard work and dedication. It usually means the coin needs to stick around for a year or two before it can be put into the pipeline to be considered for investing. Both of these points mean that you don't look below Top 50 of www.coinmarketcap.com. Top 50 is all you need to wrap your head around, and I don't mean all of them, I mean these are the ones that have proven themselves, more or less, and you got to pick gems from them that shine for you.

I'd not follow that advise. Stellar or Ripple are for exemple not to be trusted for exemple. They're not even real crypto-currencies.

[freshman777]

The main issue with altcoins and cryptocurrencies in general is TRUST, so how to make sense of all these altcoins popping of every day? The fact that anyone can create a new currency? Isn't this the whole problem? Thank you for your expert advice

There is not a big issue with trust as long as you understand the technology you invest in and developers of the coin have proven themselves through hard work and dedication. It usually means the coin needs to stick around for a year or two before it can be put into the pipeline to be considered for investing. Both of these points mean that you don't look below Top 50 of www.coinmarketcap.com. Top 50 is all you need to wrap your head around, and I don't mean all of them, I mean these are the ones that have proven themselves, more or less, and you got to pick gems from them that shine for you.

I'd not follow that advise. Stellar or Ripple are for exemple not to be trusted for exemple. They're not even real crypto-currencies.

I specifically said I don't mean all of them and you must understand the technology to pick the good ones from Top 50.

[cryptimus prime]

The main issue with altcoins and cryptocurrencies in general is TRUST, so how to make sense of all these altcoins popping of every day? The fact that anyone can create a new currency? Isn't this the whole problem? Thank you for your expert advice

Some indicators speak for trust, in case of Ethereum there are companies like Santander Bank or MS who are supporting the project. In case of XMR there are peer reviewed cryptographic papers, bigger investors like Ver and a healthy community.
On the other side there are fast ICOs by Mr. UknownX which try to profit from the current trends. Be careful.

[crairezx20]

Anyone can make altcoin but only few ICO project is unique.You should avoid these kind of ico where the following things you will see..

1.Stay out when you see a newbie open ico thread without personal details.(Sometimes the personal details totally fake you should investigate)

2.ICO Without escrow, Don't join.

3.Read the whitepaper.

Etc you should follow.better buy some coins from phoenix exchange.

What phoniex exchange? You mean poloniex? Anyway, most ICOs are scams, and don't get fooled with a coin's "uniqueness", sometimes that uniqueness is just a simple gimmick that offers nothing of actual value. Very easy to trick people into thinking it's the next big thing. Remember: everyone wants your BTC.

Yeah i agree to you and i think its more good to choose to invest are most well know or old altcoin like monero doge coin and altcoin.. since they are living for a long time ago.. the other in top 20 altcoin those are safe to invest and can live for a long time.. like other new and ICOs.

[European Central Bank]

this is why bitcoin will remain on top and stay there. all the tech, pr, spin and lies in the world can't buy trust. it has to be earned.

sure, bitcoin has massive hoarders, but it was also the only coin that started from literally nothing and stayed worthless for quite some time. there was no incentive hide premines, rig markets or con investors. it was open to anyone anywhere to download and start mining on any hardware.

are there better coins technically? i'm sure there are. but nothing can capture the same amount of trust. it came from nothing and it's been beaten to hell every day ever since and is still growing. that can never, ever be replicated. it was a total one off that can never happen again.

as for alts, it depends on what you're looking for. I wouldn't really care how dishonest a coin was as long as you could turn it around and make money on it. that's all that most of them are for.

stuff like litecoin, doge and friends are well established and there's nothing underhand about them. they also have very little price action. that should tell you plenty.

[tyz]

Many altcoin are just toys of speculators, or better pumpters and dumpters. All those have no real future when speculators lose interest. There are approximately 20 coins and projects which really have something valuable for which the price is fair.

[alyssa85]

Many altcoin are just toys of speculators, or better pumpters and dumpters. All those have no real future when speculators lose interest. There are approximately 20 coins and projects which really have something valuable for which the price is fair.

People like alts for the same reason they like penny stocks. They know most are rubbish, but there is the chance to make a killing if you get in at the right time.

[robelneo]

Some of them are just hyip you must be an early bird to make a profit,once the dev sees that no more funds in coming,he'll just leave it to create another coin,coming from the profit from the earlier coins that he created and just clone it,the only difference is the roadmap and the graphics.

[jacaf01]

The main issue is not the ICO developers but the investors, the herd mentality is killing the market, can you imagine someone investing in a project without even understand what the project is about or are trying to do, A typical herd mentality is the Waves ICO off course I invested into the project but i did early, how on earth can a project like waves raise 30000+BTC, I decided not to mention DAO because of the fiasco. I believe sanity will come into the system with time, all this is bound to happen in a new territory.

[bittraffic]

I don't see why users can't trust to a platform/network proven to efficient such as Bitcoin or ETH.
If we can see the platform to be working i guess its enough for someone to use it and can move assets, fiat to crypto.  Sooner we won't be using mode of payment such as paypal and payoneer because of crypto.

[ratatatat]

the issue is not trust, the issue is your inability to evaluate open source code and do basic maths.
Bitcoin is trustless and so are many altcoins - but there are many alts that aren't trustless aswell. Now see where the problem lies? The problem is your inability to determine which is which.

[kiklo]

the issue is not trust, the issue is your inability to evaluate open source code and do basic maths.
Bitcoin is trustless and so are many altcoins - but there are many alts that aren't trustless aswell. Now see where the problem lies? The problem is your inability to determine which is which.

I think you mean to say ,
If you can trust the Chinese Mining Pools that control over 70% of BTC mining.
Then you can Trust Bitcoin.  

Funny how no one in BTC propaganda mentions the 51% attack issue , anymore.  
Bitantic Unsinkable