About altcoin

[Bee Leb07]

I actually want to know about a summary of altcoin. What is the use of it and how can i know about the amount of Bitcoin through it?

What is the main difference between them? If we are using bitcoin, then what is main purpose of using altcoin? Please kindly give a clear concept about it.

Thanks in advance.

[Tyrantt]

I actually want to know about a summary of altcoin. What is the use of it and how can i know about the amount of Bitcoin through it?

What is the main difference between them? If we are using bitcoin, then what is main purpose of using altcoin? Please kindly give a clear concept about it.

Thanks in advance.

Well as you might know, not all alt-coins are the same. They all have their perks, like different consensus tools (SHA-256, Scrypt, Ripple,...) and most of them are made with some main function in mind, like the one you can see in my signature, it's 100% anonymous, fully integrated with TOR, fast confirmations,etc... and some alt-coins are pretty much made as a joke but became huge (dogecoin).

So in the end, alt-coins are made with specific area to work in like gambling, 100% anonymity, charity,etc...

[ratatatat]

Altcoins are testnets for future altcoins or bitcoin (best case) or outright scams or even malware (worst case). None of it lasts very long and if you believe in any of these projects you're going to be a fool in the end. It's all smokes and mirrors.

[Yuhee]

Altcoins are testnets for future altcoins or bitcoin (best case) or outright scams or even malware (worst case). None of it lasts very long and if you believe in any of these projects you're going to be a fool in the end. It's all smokes and mirrors.

Well the some of the downsides but also altcoins are tokens that can be mined just like btc. Bitcoin is the main reason this other coins started so they are all technically just some copycat of what a bitcoin is. There are other currencies that used in many different uses depends on how the creator made it. But i agree with earlier that most altcoins are just scams that sometimes talk advertise in nice ways just to gather investors and then suddenly stop projects.

[xuan87]

Alt coin basically is the same with bitcoin all of them are digital currency, the differences is the coin offered a different features, like cheaper transaction fee and more anonymous an etc, but most of the alt coin being created is because the developer want to try to be rich with the coin that they created

[Bee Leb07]

Alt coin basically is the same with bitcoin all of them are digital currency, the differences is the coin offered a different features, like cheaper transaction fee and more anonymous an etc, but most of the alt coin being created is because the developer want to try to be rich with the coin that they created

So what is the purpose of us to use altcoin? Is it safe to join any signature campaign based on altcoins?

[freeElectron]

Alt coin basically is the same with bitcoin all of them are digital currency, the differences is the coin offered a different features, like cheaper transaction fee and more anonymous an etc, but most of the alt coin being created is because the developer want to try to be rich with the coin that they created

So what is the purpose of us to use altcoin? Is it safe to join any signature campaign based on altcoins?

The bitcoin network is using something like $6 mil a day in electricity, mainly due to mining.
Thats value drained from the network users every day. There are alt coins that are order of magnitude more efficient.

Many alt coins are also magnitude faster to do transactions on.
Also, considering that bitcoin has the highest transaction fees, and the whole purpose of an currency is to be exchanged, one might ask instead, why use bitcoin?

[Bee Leb07]

Altcoins are testnets for future altcoins or bitcoin (best case) or outright scams or even malware (worst case). None of it lasts very long and if you believe in any of these projects you're going to be a fool in the end. It's all smokes and mirrors.

Well the some of the downsides but also altcoins are tokens that can be mined just like btc. Bitcoin is the main reason this other coins started so they are all technically just some copycat of what a bitcoin is. There are other currencies that used in many different uses depends on how the creator made it. But i agree with earlier that most altcoins are just scams that sometimes talk advertise in nice ways just to gather investors and then suddenly stop projects.

As per your sayings, altcoin is not trustable at all, right? If it is, then by using it what benefit can i get? And what is the convert rate of bitcoin from this altcoins?

[electronicash]

there are also altcoins that are particularly made for the development of a real company such as ZRcoin which is currently on ICO stage. Matchpool is a dating company which their token is running on ethereum network. one can certainly have their own company and make it public like stock exchange list of companies.

check coinmarketcap.com

[shamzblueworld]

Most people use altcoin to increase their bitcoin, they buy when altcoin price is low and sell when it is high and earn the profit in BTC. That is one of the ways to increase your bitcoin wealth.

Alt coin basically is the same with bitcoin all of them are digital currency, the differences is the coin offered a different features, like cheaper transaction fee and more anonymous an etc, but most of the alt coin being created is because the developer want to try to be rich with the coin that they created

So what is the purpose of us to use altcoin? Is it safe to join any signature campaign based on altcoins?

[torry28]

Is it safe to join any signature campaign based on altcoins?

No one can say it's safe or not when you have joined in campaign based on altcoins. Back then, there are few of altcoin project which ended scam, i.e OPAIR, EBITZ, and recently ASC. The result is like you know, their participant don't get paid (except ASC) because the dev ran away with their investor's money. When you joined in any altcoin campaign, make sure you already know about the risk.

[batang_bitcoin]

I actually want to know about a summary of altcoin. What is the use of it and how can i know about the amount of Bitcoin through it?

What is the main difference between them? If we are using bitcoin, then what is main purpose of using altcoin? Please kindly give a clear concept about it.

Thanks in advance.

Actually you can just simply google this information but to answer that. Alt coins are like for testing for the upgrade of bitcoin but most of the alt coins right now are being used for earning and crowd selling. But there are some alt coins that has their very own purpose for their very own services.

[talkbitcoin]

- bitcoin and the technology it introduced is open source, and under a free to use license so anybody can copy and use it.

- many started doing exactly that, copy the code and start a new coin.

- many also started doing different but with same general idea, that is when different new features were born. things like what Monero offers, things like Proof of Stake and many more.

- soon these coins started being listed on altcoin exchange platforms and became traders playthings. that is when everyone realized this market is small and can be manipulated and they can make a lot of money out of it.

- now we fast forward to today. developers (aka anybody who knows a little bit of programming) started making a lot of new coins, they used tricks such as premining the coin themselves, using ICO funds to fill their pockets with a lot of money. now the purpose of altcoins (answer to your question) is to make money. for both the developers and everyone who is a trader.

[ubitcoin]

Alt coin basically is the same with bitcoin all of them are digital currency, the differences is the coin offered a different features, like cheaper transaction fee and more anonymous an etc, but most of the alt coin being created is because the developer want to try to be rich with the coin that they created

In fact there  is not such a big difference between bitcoin and altcon, the only difference s that bitcoin is the primary currency, where as all other are its alts coin. May be there are some difference in their feathers  also but still both are crypto currency.

[Whosdaddy]

there are also altcoins that are particularly made for the development of a real company such as ZRcoin which is currently on ICO stage. Matchpool is a dating company which their token is running on ethereum network. one can certainly have their own company and make it public like stock exchange list of companies.

check coinmarketcap.com

In fact the trend  is now increasing that most of the companies are now creating their own coins, and even some of them are using the for most of their companies affairs, even they are paying  to their employees in their altcon. But I personally do not what is the benefit of using their own currency in their business.

[Elsada]

Most people use altcoin to increase their bitcoin, they buy when altcoin price is low and sell when it is high and earn the profit in BTC. That is one of the ways to increase your bitcoin wealth.

I have a same idea with you. Altcoins are considered as second digital currency after bitcoin .
They were born to be equal and add some functions which bitcoin can not meet the present demands now.

[andrew2k]

Altcoins are pretty diverse now, they can be used as an actual currency, a more anonymous alternative for bitcoin, as a share for a company, as a fundraiser token for a certain cause, etc. Every single one of them is unique in a way, something common among many of them unfortunately is that the developers are actually scammers or they just give up the project.

[Dimelord]

Bitcoin is the pioneer of crypto coin.But it lacks some features like full anonymity.On seeing bitcoin's tremendous success,many developers started to release their own coins.We could see monero was created with full anonymity.Some altcoins have good features but most of other altcoins are just shit coins.They are just pump and dump coins.Most of newly released coins are scam coins.Altcoins could be used to trade and increase our bitcoin volume.

[MWesterweele]

I actually want to know about a summary of altcoin. What is the use of it and how can i know about the amount of Bitcoin through it?

What is the main difference between them? If we are using bitcoin, then what is main purpose of using altcoin? Please kindly give a clear concept about it.

Thanks in advance.

it just like, you may google the converted amount of the alt coins to bitcoin in many sites their. you may choose alt coins its because, alt coins is a bit more lower in price compared to bitcoin you may also make that as an investment you may buy it and sell it at high price, in that way you may earn a lot and then find a trading site then convert your alt coins to btc to that site. It just like bitcoin is the father, alt coin is the children.

[emezh10]

Alt coins are also just like bitcoin a digital currency that created same ways like bitcoin but altcoins or alternative coins are just a copied idea from bitcoin so basically not successful as bitcoin and we cant see the difference in price but altcoins since have a low price unlike bitcoin it is a good long term investment for us so we can buy a big volume of that coins.