Do we Need Altcoin?

[Apriand]

Yes we need altcoin, so we have many choices to invest. Bitcoin price too high and if only invest with small investment we need wait so long time to make huge profit here, but with altcoin we can make little money to be huge. BCH, ETH, LTC  also expensive for now, so we need cheap alt like doge, rdd, and many cheap coin to invest with little money.

[royale143]

Sure, it increases variety. Think of it as different fiat currencies you may want to invest in. Just because the dollar and euro are the strongest currencies right now, doesn't mean other fiat currencies are not required?

I agree. It makes the market more active and vibrant because there are other mediums to invest on or trade for. A market that only has one asset leading in every categorical aspect would be a dull and unproductive market. Therefore, the existence of altcoins is a means of competition for the market to have several players in it. That gives it more movement and activity. Also, each altcoin gives different entities a chance, developers for that matter, to introduce their own technologies, and therefore, improve their own businesses as well.

[adikanwae]

I dont think that we need that. The new altcoin is bad for a long term investor, because it can make a negatif impact for the price of coin that they are holding.

[icecream sandwich]

There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?

For me yes we really need altcoin just for variety because we all know the humans, we are not contented in only one thing we need a lot of chioces and it is also gonna be nothing if there are only one coins that will be use by the whole world that would be ridiculous. And in case that the coins will be down you atilp have spare one. Amd some coins you might not wanted so they add more and they are all unique in their all ways.

[Vanopest]

We need altcoin because altcoins are the reason why we have choices in making investment and altcoins are the reason why we have different idea for the future and the possible solutions for the problems that we are currently have right now in this world.

[aeternus]

Coins like NEO , DOGE , DGB , OMG , NXT , WAVES.... all have uses beyond the coin themselves . Answer this question: Why do we need Apple, Google, Facebook, Whisper, Kik, Slack etc, we already had IRC, MSN, ICQ etc? And you will answer your own !

True, we need many coins for the simple fact this creates competition, if bitcoin was the only coin it is possible there will not be a hurry to implement the lightning network, it is my belief that in part the devs pushed very hard to activate segwit in the previous year because Ethereum was getting very close to bitcoin, so competition is always good since it forces the devs of all coins to try to do their best and offer results as soon as possible.

[moonami]

Obviously it is necessary to have other altcoins, as each one has its own purpose and theoretically a real problem that will be overcome.

I agree with you. We need altcoins and it is better if we are holding a good altcoins. Altcoin has a potential to grow just like Bitcoin, it is just a matter of time and trust.

[baileym]

I think it needs some competition.   The amount of alts out there now is too many though in my opinion.

[Arkham Knight]

Yes because altcoin solves the pain that industries struggle for so long like having the fair share that they deserve. They pay too much for the middlemen because they have no choice so we really need altcoins to remove that.

[Leyss]

Bitcoin and their varieties are just common universal crypto-currencies, which are completely unsuitable for various specific tasks, which are solved by altcoins released as a result of the ICO. It is tokens that are released as a result of the ICO, very useful and necessary in various areas of this life. Therefore, we need a lot of altcoyins, which would work everywhere, where you can apply the technology of blockchein.

[SonOfNorth]

Competition is always, always, only healthy, and BTC can't really be used for every single use case out there so the need for other tokens and coins is obvious. I do agree that pegging the prices to BTC is a bit bad because then BTC will dictate how the market fluctuates, but I'm sure that in the future we are able to get away from this practice somehow.

[ktulhu]

In fact, we need, at least for earnings, many new products fit very well. So while there are people who pay attention to them, they are undoubtedly needed and useful.

[cezar.crypto]

Some people argue that Bitcoin is unfair because:
- it dramatically favored early adopters with ~ 10000x returns.
- the coin distribution policy (halving every ~ 4 years) could make it unsustainable to mine in the long-term or drive the prices/fees even higher
- the hash algorithm has been taken over by ASIC industry (still it created a monster network with tremendous hashing power making it near impossible to break)

Altcoins can alleviate this problem by different approach to all above issues.

In my opinion, they are welcome to the crypto - ecosystem. Sure, some have weaker network hash rate which might make them less secure than bitcoin and other disadvantages due to reduced block time (orphan blocks) but still very very welcome.

I reccomend highly coincheckup.com for a lot of information on altcoins.

[Shtamm_oval]

There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?

And those who keep the alts now think why we need bitcoin when there is such a number of alts. Generally you need variety to increase demand and competition of course. This is the same as in any market, who will be interested in one seller of a single product, there is a saturation limit.

[Iamcassian]

More choices for the public, the better the technologies go as they compete to 1 up one another. It is a healthy competition so yes we need altcoins.

[havoc928]

i think that each good altcoin will have each strong point to be their strength to make people want to buy them and invest. and good altcoins can also can become currencies in the future. so we need altcoins

[Andika23]

maybe there are some people who need altcoin but not all i myself dont need it because there is bitcoin i also do not understand with altcoin so now i dont need altcoin i just need bitcoin

[Zooplus]

maybe there are some people who need altcoin but not all i myself dont need it because there is bitcoin i also do not understand with altcoin so now i dont need altcoin i just need bitcoin

Altcoin is a general definition, every altcoin has their own platform and they created it like a company that will provide services to the people.
Hopefully people will be more educated so they can also understand that there is a bigger opportunity in the altcoins market as they have a real mission.

[inyakizuryel]

There are Bitcoin, and also there are Bitcoin Cash and Bitcoin Gold and B2X that we use it as an altcoin, but do we still need other altcoins? as i knew in the forum on the altcoin section there are much announcement about new altcoins almost everyday. do we still need that altcoins?

Altcoins are very abundant and they are fast growing in the industry, for me we need altcoins because it is very hard for us to get some bitcoins, in order for us to get bitcoins our bridge is using altcoins, and the market will not pump or will not be popular if we dont have altcoins they demand and supply of bitcoins will be higher and by that it will not be stable so for me we need altcoins.

[andisuk]

of course we need it because every coin has its own concept and then the benefits of each coin is also different although there are similarities as well as one of the main is for trading use