[ASK] Why do people buy altcoin?

Quote from: yourialfa on May 16, 2017, 07:35:32 AM

Some people buy altcoin for trading. See the value of altcoins price.

The price of BTC is too high and to make a profit in trading you will have to invest some solid amount. So better is to buy altcoins with lower price and trade in their fluctuations. Check out Creditbit in my signature, price varies from 0.75$ to 1$, the probability of losing everything is less in this case.

They buy Altcoins because users wants to know how value are they in our industry. Also they make it as investment to secure their future when digital currency era has come.

Altcoins are mostly bought as a form of short or long term investment or others mainly buy them for trade hoping to get profit

Sometimes people see bitcoin to be to expensive and will choose to go for a cheaper cryptocurrency

It's about trying to find the next unicorn. Most altcoins projects are going to fail, but if you find the one that will win, you are going to earn a lot.

Quote from: whale123 on May 17, 2017, 06:47:33 AM

It's about trying to find the next unicorn. Most altcoins projects are going to fail, but if you find the one that will win, you are going to earn a lot.

Since the simple use cases have been done (i.e. storage of value), the true unicorns of the future will be bred from possessing massive utility.

i.e. Golem, Gnosis, Ethereum, etc

Quote from: alamin99 on May 08, 2017, 07:19:00 AM

There are a lot of altcoins and I am really curious why people buy them. Is there any worth of altcoin? Why not using only bitcoin? What's the future of altcoins?

Ineedly because they seek the opprlortunity of increasing its value which all investors/traders are seeling for. Another reason, they think bitcoin will dump, thus they want to take advantage of it.

*Biggest problem of every project is funding, and if right way is not found it will be very hard to see real progress, if we talking seriously. Crowdfunding is approved only if can create sustainable system which can evolved over time if there is need.
*Decentralization is the future, we can see it on BTC example which is favored on market.
*Simplicity of usage another one important fact.
*Transfer ability between different platforms.
*Fast transaction and micro payments.
*Secure network.
*Stability if you want to be used as money.

I think till now we didn't saw one who can answer all those questions, but still we investing.. Wink

First point is with altcoin we can get doubled profits Grin

and Altcoin was created to correct the deficiency of bitcoin Grin

Quote from: sekalitas on May 17, 2017, 12:41:38 PM

First point is with altcoin we can get doubled profits Grin

and Altcoin was created to correct the deficiency of bitcoin Grin

Yes, trading is indeed the most profitable activity in this world of cryptocurrency, We can take more advantage if we are good at reading charts.

Everybody is looking for the next bitcoin. which is silly. And many people are just caught up in the excitement of it all. Ultimately all of this is good for bitcoin as it drive up bitcoins price. You have to for the most part buy bitcoin to buy an altcoin. And it creates new tech for bitcoin to incorporate at some point in the future.

economics 101, it is always good to have competitors to avoid monopoly. And aside from that, it is a crypto currency, they were made for special reasons, "to make more money" haha. People likes innovations that is why people buy altcoins.

For the same reason they buy Bitcoin:

To get rich.
To be a early bird in a possible future new economic era.

Also, there are a lot of altcoins with great potential to become something big: ETH, XRP, DCR, etc.

because they believe that altcoin can help them to become rich. They want to earn more money from altcoin. Holding altcoin and hoping the price will increase are what they are doing now

As some of the guys said, people aim to get richer by getting altcoins. They think they could catch the train in earlier stations. Wink

Quote from: JosNekoKopa on May 17, 2017, 09:46:13 AM

I think what you names here are rather aspects people seek for when they choose altcoins not only as investment but as future money. I didn't get the point about crowd funding being somehow a part of a problem and approved only under specific circumstances. Decentralization seems like a reason for altcoins but it is not enough, for people may stay on btc and not want to deal with alts. Simplicity of usage is a good feature, especially for a wallet.
I think the best point here is that, apart from trying to earn money by trading or to guess what will the future be like people seek for altcoins because of extremely slow transactions with bitcoin.

Quote from: alamin99 on May 08, 2017, 07:19:00 AM

There are a lot of altcoins and I am really curious why people buy them. Is there any worth of altcoin? Why not using only bitcoin? What's the future of altcoins?

There are several reason the easiest one to guess is that we like to make profits and there are a lot of profits you can generate with altcoins, the second is that instead of putting all of our eggs in bitcoin we put it in different coins instead.

Quote from: disconnectme on May 08, 2017, 07:26:51 AM

It is simple, it is through Altcoin you can easily multiple your money, for BTC to do X2 from the present price is bid deal, but very easy to see Altcoin do 2X, 3X in a matter of weeks

This is mainly the correct answer. But the side effect of this is that altcoins are worth something. Since people merch them up or pump and dump, it makes them worth "something". We probably don't all agree on the worth of almost any of them.

I agree some are worth a few dollars each and have great use cases. Others are people testing out the next best thing, and since people buy and sell them for profit it empowers the creators to fund themselves. When a new coin comes out and they premine it they use those funds for paying people. It is interesting that they can generate wealth from almost nothing like that.

Quote from: kryptqnick on May 17, 2017, 06:53:51 PM

I didn't get the point about crowd funding being somehow a part of a problem and approved only under specific circumstances.

Financing of project is main problem for many, and i doubt this can be done with only one collecting, if sustainable solution is not found. This is fastest way but don't grant anything in return, everything is based on predictions. Tokens are not shares and they are worthless by itself. Final product must have some guarantees that it will be successful, else it is just a gamble.

Quote from: kryptqnick on May 17, 2017, 06:53:51 PM

people seek for altcoins because of extremely slow transactions with bitcoin.

Yes and we cannot expect that BTC will be the only coin ever used now, and in the future, and Holly Inquisition will be called upon all who oppose to believe this. We can take best of it and move on, for example, why not?

Some people wants to buy a lots of altcoins, due to they want to save it for the future value of each altcoins. However they can't know if who's coins will survive in the future. Because most of the coins were started to raised up and knowing by users.

Profits, Profits, Profits....

This is like Crypto Angel Investing / Venture Capital but almost anyone can play!