Dangerous to invest in new Altcoins?

[rohan1]

Innovation is a must for new altcoins, or it will have no chance to be bigger.

[testcoin]

Yep, investing in any altcoin with limited or zero innovation is dangerous.

But investing in cryptocurrency with great innovation, such as Bitcoin, does not make you feel very safe either.

So always remember the investment golden rule:

"If you don’t fully understand it, don’t invest." 

[mgburks77]

Any investment into a technical innovation is risky.

Probably an alt that is PoS will replace the energy wasting mining process of the early cryptos. No coin that blatantly wastes energy is going to be widely adopted but the concept of trustless decentralized digital currency is not going away.

That should tell you something about the potential this very dangerous investment.

[jodybay]

if you were planning to invest some of the altcoin then go for the steady one though it failing a lil bit if you think its worth for investing then go on you can keep it and when you see that its increasing then trade it or sell it imidiately

[softron]

Too many scamcoins, Try to get some info on d coin before investing

[wallstreetcoiner]

It is very very risky to invest in BRAND NEW alts. Litecoin is okay tho

This is good advice. Our research team likes Litecoin, Goldcoin, and Dogecoin, for long-term holds. If BTC recovers over the coming months, these three coins could provide exponential returns.

[mprep]

Invest only in well established coins and try to avoid pre-mined pump-and-dumps which are floating around like flies these days.

[jeroenn13]

99% of the Altcoin clones are Pump and Dump.

[bl0ckchain]

It is very very risky to invest in BRAND NEW alts. Litecoin is okay tho

This is good advice. Our research team likes Litecoin, Goldcoin, and Dogecoin, for long-term holds. If BTC recovers over the coming months, these three coins could provide exponential returns.

+1

[mprep]

99% of the Altcoin clones are Pump and Dump.

Because so many people want their own coin. I wonder what will happen when BTC becomes mainstrezm - even more useless altcoins will be created.

[mgburks77]

a currency serves whatever purpose it's user's determine.

If you want it only to play pump and dump on a virtual stock market then that is it's use.

If no one uses it for anything then it dies.

[mprep]

a currency serves whatever purpose it's user's determine.

If you want it only to play pump and dump on a virtual stock market then that is it's use.

If no one uses it for anything then it dies.

Thus 99% percent of all altcoins die out in a few months from launch.

[mgburks77]

a currency serves whatever purpose it's user's determine.

If you want it only to play pump and dump on a virtual stock market then that is it's use.

If no one uses it for anything then it dies.

Thus 99% percent of all altcoins die out in a few months from launch.

Well the chance of an alternative currency reaching the level of adoption of USD is exceedingly thin so it is to be expected that most attempts to do so will fail.

On the other hand, altcoins aren't a threat to btc being seen as legitimate by the public. The threat is the idea the general public has about the legitimacy and safety of using cryptocurrency in general, which is not solved by making out all altcoins to be a scam.

They don't distinguish between various cryptos. To them it's all fake money so going around talking shit about altcoins because you think they will detract from the value of your bitcoins isn't really helping your cause.

The very same features that make altcoins seem like a scam to certain holders of btc exist for btc and btc is therefore regarded as a scam by the general public. The argument that it is somehow "better" is not valid in any regard. It actually has a energy wasting feature that is not desirable that is not found in newer types of cryptocurrency.

[BarryBatsBak]

Innovation is key, my friends! scrypt is about to be overtaken by ASICs, better switch to SHA3-like currencies!

[mprep]

a currency serves whatever purpose it's user's determine.

If you want it only to play pump and dump on a virtual stock market then that is it's use.

If no one uses it for anything then it dies.

Thus 99% percent of all altcoins die out in a few months from launch.

Well the chance of an alternative currency reaching the level of adoption of USD is exceedingly thin so it is to be expected that most attempts to do so will fail.

On the other hand, altcoins aren't a threat to btc being seen as legitimate by the public. The threat is the idea the general public has about the legitimacy and safety of using cryptocurrency in general, which is not solved by making out all altcoins to be a scam.

They don't distinguish between various cryptos. To them it's all fake money so going around talking shit about altcoins because you think they will detract from the value of your bitcoins isn't really helping your cause.

The very same features that make altcoins seem like a scam to certain holders of btc exist for btc and btc is therefore regarded as a scam by the general public. The argument that it is somehow "better" is not valid in any regard. It actually has a energy wasting feature that is not desirable that is not found in newer types of cryptocurrency.

By fail I meant, nobody mining or using them aside from the maker, his few friends and some fool who still believes it's not over. If an altcoin could gain the level of Litecoin, I'd consider it super successful.

Don't twist my words: I said 99% altcoins are crap. You see 100%-99%=1%. That's the percent of all legitimate coins that exist and still function comparing to all those created.

I'm only talking crap about altcoins due to the fact that the majority (90-99%) are poor copies of either Litecoin or Bitcoin. Most of them offer no benefit except for the maker: the possibility of him becoming rich if his coin managed to stand the tests of the community. Look around: coins are being created every day, yet only a few actually are being used.

Regarding the fact they will detract from Bitcoin: not really, it didn't even cross my mind that one of those failures could ever influence Bitcoin in any way. Aside from those, any useful coins that introduce new functional features are welcome and some healthy rivalry is always a good thing.

[mgburks77]

it didn't even cross my mind that one of those failures could ever influence Bitcoin in any way.

Most people feel this way about bitcoin in regard to USD. Would you still be interested in cryptocurrency despite this fact?

If so, well...

[mgburks77]

well, I guess you deleted your response

lol

[RodeoX]

It's not dangerous. It's foolish, but you won't get hurt. You will simply loose your money.

[mprep]

it didn't even cross my mind that one of those failures could ever influence Bitcoin in any way.

Most people feel this way about bitcoin in regard to USD. Would you still be interested in cryptocurrency despite this fact?

If so, well...

Despite the fact that USD is more widely used than Bitcoin? Well, yeah, I am know. Bitcoin offers innovation as compared to the dollar such as semi-anonymous electronic payments, decentralization and low fee transactions comparing to banks. While 99% (not all of them) of altcoins offer tweaked versions of Bitcoin or Litecoin without any useful features and often premined.

well, I guess you deleted your response

lol

Who did what now?

[mgburks77]

Bitcoin offers innovation as compared to the dollar such as semi-anonymous electronic payments, decentralization and low fee transactions comparing to banks. While 99% (not all of them) of altcoins offer tweaked versions of Bitcoin or Litecoin without any useful features and often premined.

so they are all the same, except for the waste of energy caused by PoW mining

you are just repeating slogans, not thinking