Do we Need Altcoin?

[CisColtz]

Well right now we need altcoins and certanly we need good projects that are aiming the crypto market and consumers. Even now there are amazing alts out here and I'm sure it's no point to list some because we can look at top 10 coinmarketcap and you have them.

[Trimegistus]

Well right now we need altcoins and certanly we need good projects that are aiming the crypto market and consumers. Even now there are amazing alts out here and I'm sure it's no point to list some because we can look at top 10 coinmarketcap and you have them.

Good altcoins are not limited to the top 10, in fact I have strong doubts on the future of some of those like XRP.

Some of the best projects are still undervalued and therefore outside of the main focus.

We need altcoins but serious and honest projects, not the new scams that marketed everyday. We have now 1552 coins listed... WTF?

[mirgo1791]

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as investors to collects of returns within the interval sequence of terms between the entrance of the dedication.

[karthcrypt]

Infact I saw a lots of coin already on coinmarketcap. It is interesting to see that all the coin has some liquidity and that suggest community support for those coin.

[BitProCoin]

Yes, sure we need altcoins. Each of the altcoins represents a separate project and in each area where blockchain technology is used different projects are needed.

[dado7]

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?

We shouldn't really mix the terms fiat, currency and cryptocurrency as they all classify a completely different thing.
Currency is a money accepted in one country as an official instrument for making payments.
Fiat is a form of a currency - it is currency that a government has declared to be legal tender, but it is not backed by a physical commodity.
Finally a cryptocurrency is not a currency (hence actually the term "cryptocurrency" is a misnomer) but a form of money - digital and based on a blockchain.

That being said the comparison is good in a way that it is true that we need a diversity. First - investment diversity, and second - technological diversity (as we are still not sure which technology is the ultimate, the best... maybe each can find it's use elsewhere?).

Other currencies are required because of the fact that by having it's own currency an country can have (the fact that most of them actually don't have is a different story) a control over the supply of the money (the sole purpose of it being to back up all goods and services and hence make the exchange possible). The world can accept one cryptocurrency as an alternate investment opportunity - like gold or a stock, or as token (instruments used for payments inside an community), or an ultimate currency... or each country can choose a different cryptocurrency to exist instead or coexist with their (fiat) currency etc. The possible combinations are almost unlimited.

[Kate Beckett]

Of course we need Altcoins. Bitcoin is a great crypto currency, but there are a lot of Altcoins which offer new opportunities and Bitcoin doesn`t. Everything depends on what you need. On this basis, you should choose which crypto currency it is best to use for your needs.

[Tylev]

Bitcoin is a universal digital coin, however it is practically not suitable for use in a narrow sphere of our life. Altkoins eliminate these shortcomings of bitcoin and, as it were, supplement the scope of application of crypto currency. This applies primarily to tokens released as a result of the ICO. These coins are generally very useful, although their number is already more than a thousand. Their potential is still very huge and the scope of their application is manifold. Therefore, altcoins are very necessary for a person and they are just beginning to develop.

[Frank76]

Of Course, we need alctcoins. At first: each altcoin has individual properties, what determines its technology. Secondly: everyone has it can become rich or very rich  everyone has a chance, many chances

 

[Fatunad]

Bitcoin is a universal digital coin, however it is practically not suitable for use in a narrow sphere of our life. Altkoins eliminate these shortcomings of bitcoin and, as it were, supplement the scope of application of crypto currency. This applies primarily to tokens released as a result of the ICO. These coins are generally very useful, although their number is already more than a thousand. Their potential is still very huge and the scope of their application is manifold. Therefore, altcoins are very necessary for a person and they are just beginning to develop.

I agree on the things you are saying on here which is actually true because bitcoin cant really be applied in all aspects seeing on its current flaws which there are altcoins would really patch up that flaw and dev or teams are trying out to make coins which will be suitable on peoples needs when it comes to those areas.Not only that in terms of usability but also into money making opportunity its better to have alts to extent the possibility on making even more money.

[publicjud]

I believe that a lot of alternative coins are created only for speculation. And society does not need such coins  so they are useless. But there are projects with a real product that can significantly improve people's lives.

[Nivelir]

Of course, we need altcoins, because altcoyins are projects that want to make the world of people much better than it is now, people do not ask for their implementation so much, so I think they are needed. But most of them, it's certainly a simple deception.

[Bonus777]

altcoins are definitely needed. Different altcoins serve for different tasks. For example, transactions between exchanges can be done by altcoins. This is faster and cheaper than in bitcoin.

[coastbank]

Yes we do need more and more altcoin in our lives. They are solving many problems we had in digital life like depositing, sending money or all other things anonymous. So its good to have as many altcoins in market.

[alkhie01]

Yes specially those who have good purpose in crypto industry.I believe to those project that we can use in the future, i know some altcoins will be use in everyday life.

[bitgoldpanther1978]

Yes it is! we need altcoin for us to earn a lot of bitcoin here, though it is not directly bitcoin but it can be convert into bitcoin once its been sold in the exchange platform. And aside from that many became rich here because of altcoin through ico project campaign.

[SanZoldyck]

of course we need altcoins, because investments are not in bitcoin alone, altcoins also need for long term investment, and more altcoins would be great for cryptocurrency variations

[kuronokishi10]

according to me the new cryptos that are developed every day are useless and a waste of money.But still no one knows that one of them might one day overthrow bitcoin for the no.1 position so that is the reason that these new coins come up every da.
but most of them do not even show up in exchanges which is obvious as there is so much competition.
we cannot stop people from being creative or investing their money to develop new coins its their money and their will.
also bitcoin alone would not be good,we would need some altcoin as an alternative like ETH,LTC but not in such huge quantity.

[troleybüs]

Every coin has different purpose. Even if they have same purpose it's healthy for competition. That's how free market works. We don't want monopoly anywhere. In this financial business more competition brings better monetary products.
Bitcoin was slow, they created Litecoin. Isn't it good? Smart contracts was the discussion for Bitcoin but Ethereum did it. Now we can implement these into Bitcoin, too when we have consensus. (Good) Altcoins are always needed.

[joshy23]

Every coin has different purpose. Even if they have same purpose it's healthy for competition. That's how free market works. We don't want monopoly anywhere. In this financial business more competition brings better monetary products.
Bitcoin was slow, they created Litecoin. Isn't it good? Smart contracts was the discussion for Bitcoin but Ethereum did it. Now we can implement these into Bitcoin, too when we have consensus. (Good) Altcoins are always needed.

If for the benefits of its users its better to have alts as a good way backing up bitcoin some lapses, I think we needed alts as what have mention above me there's really a lots of help which been provided coming from the alt market, and crypto become popular due to this alts trading which very profitable for most people who understand and able to balance how the system works, its all about the benefits of consumers and for the best competition around this industry that's why we need alts.