Define Altcoin Success

[umbara ardian]

The success of a global corporation doesn't come from the amount of money the day traders can make in a day, or from being the first to have a red button instead of a blue button on something the average Joe will never use. Set aside all anti-establishment views, and let me know what you think an altcoin project needs to achieve in order to be listed on the New York Stock Exchange (just dreaming for now - lol)? In other words, define true long-term altcoin success.

Altcoin can be successful with promotions about the coin, with the promotion of the coin so much more famous. Volumes are stable, and multiply that coin community like eth.

[yyyshhha1415]

 "Altcoin" is a combination of two words: "alt" and "coin"; alt is short for alternative and coin signifies currency. Thus together they imply a category of cryptocurrency that is alternative to the digital currency Bitcoin. After the success story of Bitcoin, many other peer-to-peer digital currencies have emerged in an attempt to imitate that success.
Many of the altcoins are built up on the basic framework provided by Bitcoins. Thus most altcoins are peer-to-peer, involve a mining process and offer efficient and cheap ways to carry out transactions on the web. But even with many overlapping features, altcoins vary widely from each other.

[carlfebz2]

The success of a global corporation doesn't come from the amount of money the day traders can make in a day, or from being the first to have a red button instead of a blue button on something the average Joe will never use. Set aside all anti-establishment views, and let me know what you think an altcoin project needs to achieve in order to be listed on the New York Stock Exchange (just dreaming for now - lol)? In other words, define true long-term altcoin success.

We can consider an Altcoin on its success when do we see the marketcap and its value. As long there are users of it i can consider it as a successful coin on which there is an active community who do supports it and believe on it because people would not just see on its value but also to its usage/features or potential of a certain coin.Take a look on those coins on the top spot most of them does really have good support from its users.

[CryptoMensch]

Top 20 market cap, then top 15, 10...

[camelson]

We consider altcoin successful when there is a higher trading volume, stability in the prices and stayed in the market for longer period of time.

[Herbert2020]

short answer: adoption!

the name is altcoin aka cryptocurrency. but the definition has changed and right now these altcoins are only carrying the name of currency in their description and nothing more than that.

so in my opinion, altcoin success would be when one or some of these altcoins start living up to the promise. start being used as a currency. and for that, they first have to be a better currency than fiat and also a better currency than bitcoin. also have certain aspects to themselves. such as
- ease of use for average Joe, not a shitty or complicated wallet
- ease of use in general, meaning i as a user can run a wallet for myself without requiring a third party such as web wallets, exchanges, etc to keep my coins.
- decentralization, if people wanted to use centralized coins they would have either used fiat or used the government/bank issued cryptocurrencies that thy are currently working on.
- security, people want to be sure that their money is safe. the code needs to be safe, they shouldn't hard fork every couple of months just because the code wasn't reviewed first before releasing. the network security should be high enough that eliminates any kind of attack vector or at least makes them expensive enough to prevent an easy attack and have solutions for them too.
- stability, the wild pump and dumps that happen in altcoin scene kills any project no matter if they are good. no sane person or business would risk using an altcoin that is small and can get dumped 80% in a week.

but all the things i said are just noise because the nowadays developers don't care about anything apart from "how much money the project makes them" and that is one of the reasons why we keep seeing ICOs!

[Razzoel]

Bitcoin is the most successful crytocurrency because of adoption and not because it is inherently better than other altcoins. There are several altcoins that are more advanced than bitcoin. Altcoin success is defined and measured by user adoption. its only with a large user base that an altcoin can show its true potential, otherwise its just a useless piece of technology.

[Herbert2020]

Bitcoin is the most successful crytocurrency because of adoption and not because it is inherently better than other altcoins. There are several altcoins that are more advanced than bitcoin. Altcoin success is defined and measured by user adoption. its only with a large user base that an altcoin can show its true potential, otherwise its just a useless piece of technology.

you think they are better but in fact if they were really better they would have already gotten big in the past 8 years.
do you really think bitcoin was the first?
there were other altcoins around when bitcoin came out, and it crushed all of them because it was decentralized, had a good distribution plan and was secure because giant security experts had checked the code.
all the altcoins you find these days are either premined obviously or premined in a hidden way so they don't have a fair distribution.
when someone controls over 70% of the supply of an altcoin, that altcoin can never succeed. and that is because of the decentralization and security that i mentioned above. with bitcoin everything has always been transparent from day one. you could mine the first blocks and get the reward like anybody else. the coins satoshi and Hal mined are still there and have not moved all these years. but you can't say the same thing about most altcoins.

[JosNekoKopa]

Only Bitcoin so far can be called successful coin, because it has an extraordinary story, one day this story will be learned in schools, this is success. Altcoins including those best one are only shadow  of this success. But yet their time will come.
But after all every coin which is live and has some value, and can be used is successful. It depend for what purposes this coin is made. Popularity is different thing.

[dinofelis]

"I find it all very irrational, but if I can make profit from it I'm game."

Lol, I think that rings true for alot of markets, but definitely for bitcoin/altcoins. I think the vast majority of us were/are just holding for the next bubble. We are all playing the greater fools game, buying expecting to sell it to a greater fool for more in the future.

I think long term success for alot of people means bitcoin/their altcoin continually rising. The thing that people miss is that bubbles are caused by irrational thinking, they aren't supposed to make sense. They build because of emotions, such as greed, so powerful that it overpowers rational thought. Its what makes people overreact and mortgage/sell their house and buy bitcoin after it's already risen nearly 10x, something we've now seen repeat during both the current & last bitcoin bubbles.. Irrational exhuberence. (I really hope that dude from 2013 kept that shit, he's sitting pretty today if so, its hard for a non-trader to hold with conviction though, especially after it loses 50% and you start thinking "what if it never comes back")

I 100% don't see a reason for bitcoin to have a 50b market cap unless there's so many people using it that the system needs to hold that much value/liquidity in order to transact properly.

Long term success for me would be being able to pay every bill I have and make purchases from nearly every store using bitcoin directly. We can get into the argument of whether bitcoin will be surpassed by an altcoin in the future, but it's the same philosphy. The first one to it, imo, is successful.

I fully, 100%, agree with you.  What you are talking about, is Fisher's formula for the value of a currency. 

Crypto is abstract speculative greater fool betting tokens, not money.  Bitcoin included.  Because of their emission curves.

[Ayers]

Bitcoin is the most successful crytocurrency because of adoption and not because it is inherently better than other altcoins. There are several altcoins that are more advanced than bitcoin. Altcoin success is defined and measured by user adoption. its only with a large user base that an altcoin can show its true potential, otherwise its just a useless piece of technology.

you think they are better but in fact if they were really better they would have already gotten big in the past 8 years.
do you really think bitcoin was the first?
there were other altcoins around when bitcoin came out, and it crushed all of them because it was decentralized, had a good distribution plan and was secure because giant security experts had checked the code.
all the altcoins you find these days are either premined obviously or premined in a hidden way so they don't have a fair distribution.
when someone controls over 70% of the supply of an altcoin, that altcoin can never succeed. and that is because of the decentralization and security that i mentioned above. with bitcoin everything has always been transparent from day one. you could mine the first blocks and get the reward like anybody else. the coins satoshi and Hal mined are still there and have not moved all these years. but you can't say the same thing about most altcoins.

bitcoin was indeed the first, unless you think that gold reserve or other centralized currency that were shut down by the government have somethign to do with bitcoin, which is not true!, but litecoin was not the second that is something that people think and it's wrong, bitcoin also started with 70% of supply or even more in the hands of few people, but it got distributed as the time pass and now we have a better distrubution and better value, but it took many years, from 2009 to 2017, all other altcoin are younger than bitcoin this is a big difference