Biggest Threats to Altcoin Success?

[greply]

Hi all. I just wanted to what people feel are some of the biggest threats to the success of altcoins. Not specific about any one coin, but at a more macro level for the market.

I would say that, in my opinion, the two biggest threat to the success of alt coins at the moment are:

1. Credibility
2. Adoption

I think credibility can be a catalyst for increasing adoption, but no matter how credible the market becomes, if people don't use the technologies or get involved then altcoins will forever be a niche trend.

[maku]

If you want to have good altcoin then think of an altcoin with a purpose. Keep in mind - Bitcoin is the father of all crypto, but:

Ethereum is kinda unique because is that it is a platform for smart contracts and decentralized applications.
Dogecoin and Litecoin are two different digital currencies that are mostly used for low-value, fast confirming transactions.
Dash and Monero, Zcash - main selling point is better privacy than Bitcoin and confidential transaction.

The biggest threat to altocin success is lack of purpose and utility, everything else can be earned.

[ranih]

It'd be wrong to say what's the biggest threat to all of them as a group imo.
You invest in one coin at a time and you to figure out what are the threat particular to it.

Many of them won't survive because their purpose (and product) is not strong enough.
Some of them would probably be affected by regulation and the SEC.

And some of them are just scam of course... :-(

[headachy]

If you want to have good altcoin then think of an altcoin with a purpose. Keep in mind - Bitcoin is the father of all crypto, but:

Ethereum is kinda unique because is that it is a platform for smart contracts and decentralized applications.
Dogecoin and Litecoin are two different digital currenciies that are mostly used for low-value, fast confirming transactions.
Dash and Monero, Zcash - main selling point is better privacy than Bitcoin and confidential transaction.

The biggest threat to altocin success is lack of purpose and utility, everything else can be earned.

How is ETH unique if there are Waves that are offering the same or even much more in few months?

[bbc.reporter]

To have a threat on its success an altcoin must first achieve real success. No altcoin has ever achieved real success. Why? Because they are not in the position of bitcoin that has the no.1 market capitalization, it is accepted by merchants and has started to become a legitimate currency in some countries by law.

[rube08]

IMO the biggest threat to Altcoin success is the over-saturation of ALTCOINS. If too many appear in the market, a lot of investors lose trust in other alternative coins and will turn to Bitcoins.

#Tapcoin

[Mieehayii]

if bitcoin were succeed, there is no need with other coins.
this is the biggest threat

[Eth-Jackcoin]

it's bitcoin because it's hard to rival the infrastructure bitcoin boast.

[greply]

To have a threat on its success an altcoin must first achieve real success. No altcoin has ever achieved real success. Why? Because they are not in the position of bitcoin that has the no.1 market capitalization, it is accepted by merchants and has started to become a legitimate currency in some countries by law.

I agree that none of them have reached bitcoin's level, and may never do so. However, I don't think that success is defined by being the best or the largest. Many coins, by design and purpose, will not rival the market cap of bitcoin. That doesn't mean they won't be successful.

And I think using market cap as an indicator of success is flawed.

[HardFireMiner]

Biggest Threats to Altcoin Success are scammy distribution A.K.A ICO's.

[TrumpD]

Biggest Threats to Altcoin Success are scammy distribution A.K.A ICO's.

I second this ^. Fraudulent ICO's are making it hard for investors. And in turn are damaging valid projects. Greed  is the biggest threat to altcoins.

[pynetx]

Well scammers everywhere.
Right now everybody is jumping on to everything they are seeing. But, soon we will have a lot of scammers.

[bitcoinisbest]

Well there are groups who actually pickup some altcoin and try to pump and dump in order to make easy money. Due to this if the prices fall a bit this may create a panic situation and many users might sell the coins and it may result in a crash of the prices and credibility of the coin may get hampered.

[tiggytomb]

Definitely scam ICOs have damaged the overall impression of an ICO and the other problem I think is hype, too much hype can seriously damage a project because expectations will be too high.

If a project is serious and the devs are serious I would like to think they would be less concerned with hyping their project and rather concentrate on the job at hand and ensuring their project succeeds outside of hype.

[StealthCoin1]

Scam ico's after scam ico's and the scam devs cash out real fiat to invest in real estate and stock, just like Veterin Buterin of Eth suggested.

[13abyknight]

IMO, countries not ready to accept cryptos other than Bitcoin will be a major setback for a large number of these altcoins and also as mentioned above, the growing number of scam ICOs ruining the impression of the altcoin industry.

[jeraldskie11]

For me, the biggest threats of the Altcoin success is to adopt it like bitcoin into whole world which can affect the price faster to be go up high and we can convert it instantly in our real currency with no hassle.

[Vaslime]

Biggest Threats to Altcoin Success are scammy distribution A.K.A ICO's.

Yes true if it's has been fraud ICO it was the biggest threats most of the investors will not put there money on ICO anymore and coins will not succeed after that Altcoin market will have consolidation state for the long time because investor might pull it out or not investing on it either way it will not be uptrend to an altcoin the most difficult part or the worst part it can be downtrend and maybe it will cause failing to a specific altcoin.

[greply]

Scam ICOs are definitely a problem. Do you all think that ICOs in general, even the legitimate ones, hurt the market? I'm not sure on the exact history of them, but were ICO's always around and always a problem?

[Teraboy]

Biggest Threats to Altcoin Success are scammy distribution A.K.A ICO's.

I second this ^. Fraudulent ICO's are making it hard for investors. And in turn are damaging valid projects. Greed  is the biggest threat to altcoins.

Because the ico will be related to the money. This time everyone want to live in money/LAMBO. But it can't be considered as the main threat to the altcoin's success. There is a lot of scammers in the cyrpto.
Those greedy person can't be erased from the crypto.