I'm done with altcoins

[$$$sparkles$$$]

What's the point of altcoins? Doesn't decentralization mean that everyone can join and work on the project regardless of anything? So why aren't some of the greatest minds, like Vitalik or Charles working on improving bitcoin? Why do we f!@#$ng have 1600 crypto currencies in the space? I only see ads with "hello we built this awesome currency that does this and does that" for what? We already have bitcoin! I know it's old and rusty, but that's why you develop, and that's why you rework.

I'm a developer myself. I have re-built my game from ground up three times now. Just because I wrote it badly, doesn't mean I have to release it and not put anything new because I'd completely break it. I'm sure there are workarounds, even if we have to fork the coin, and start from scratch.

But instead, we have groups of people who fork coins and state that they are doing something awesome, while they aren't. And we ended up with 169 different bitcoins, and 1400 other (bit)coins as well, which is really hurting my feelings.

And now we even have companies like bitmain, who, in my honest opinion have completely destroyed the whole concept of decentralization.

My take on all this fuss is that, crypto is in a really bad position. Don't get me wrong. The technology IS revolutionary. It's just that humanity is just not ready yet for such a thing, as greed and selfishness are still ruling our realms.

And by the looks of it, I don't think humanity will ever be ready for this.

It's all about the fucking money. And if someone tells me otherwise, I'm sorry but I'd really slap him.

Thanks for reading!

Done with altcoins? That's your choice really. Greed? Absolutely! Probably the main reason why most of us are here (unconsciously for some 😉). Altcoins provided a wide range of options for us to play with. Yup, it's a game people! A gamble that many of us are willing to play despite of the risks involved. Coz that is the only way we can earn here. Your sentiments may also be mine, or even for others as well. But hey, we're still here aren't we?! 😁

[rltim555]

That's it! We are in crypto because of money. Not all the people, but majority of them. But there are some people like Vitalik are in crypto because of technology. Look at him, he don't need money, he don't need girls or party with friends, all what he really need is project development and creating something to change the world

[Leah38]

Good day. I fully can't understand whats totally your point. There's thousands of coins in the market now and traded and some new ICOs too. Crypto is a great chance to invest and earn without the strict requirements of college degree holder or age requirements. Everyone can earn and even though there are the high risks of loosing money its one's responsibility to take good care of his investments and assets.

[arthotdog]

Tell me why people engaging cryptocurrency?is it for money in first base?technology is just a second option,and to be honest many of members here dont really care for technology its just all for money for living.

Good day. I fully can't understand whats totally your point. There's thousands of coins in the market now and traded and some new ICOs too. Crypto is a great chance to invest and earn without the strict requirements of college degree holder or age requirements. Everyone can earn and even though there are the high risks of loosing money its one's responsibility to take good care of his investments and assets.

Actually we have same thing,harder to understand whats OPs sentiments here.i guess the argument came from op's losses in trading because he chooses the wrong coins to invest lol

[lightning mcqueen]

What's the point of altcoins? Doesn't decentralization mean that everyone can join and work on the project regardless of anything? So why aren't some of the greatest minds, like Vitalik or Charles working on improving bitcoin? Why do we f!@#$ng have 1600 crypto currencies in the space? I only see ads with "hello we built this awesome currency that does this and does that" for what? We already have bitcoin! I know it's old and rusty, but that's why you develop, and that's why you rework.

I'm a developer myself. I have re-built my game from ground up three times now. Just because I wrote it badly, doesn't mean I have to release it and not put anything new because I'd completely break it. I'm sure there are workarounds, even if we have to fork the coin, and start from scratch.

But instead, we have groups of people who fork coins and state that they are doing something awesome, while they aren't. And we ended up with 169 different bitcoins, and 1400 other (bit)coins as well, which is really hurting my feelings.

And now we even have companies like bitmain, who, in my honest opinion have completely destroyed the whole concept of decentralization.

My take on all this fuss is that, crypto is in a really bad position. Don't get me wrong. The technology IS revolutionary. It's just that humanity is just not ready yet for such a thing, as greed and selfishness are still ruling our realms.

And by the looks of it, I don't think humanity will ever be ready for this.

It's all about the fucking money. And if someone tells me otherwise, I'm sorry but I'd really slap him.

Thanks for reading!

Done with altcoins? That's your choice really. Greed? Absolutely! Probably the main reason why most of us are here (unconsciously for some 😉). Altcoins provided a wide range of options for us to play with. Yup, it's a game people! A gamble that many of us are willing to play despite of the risks involved. Coz that is the only way we can earn here. Your sentiments may also be mine, or even for others as well. But hey, we're still here aren't we?! 😁

Its your decision if you don't want to continue with your altcoins. There are times that come to our lives that we are lazy in everything we do, and if you feel that you don't want to continue then its up to you.

[tng811]

That is called competition. Competitions are everywhere in this world and they are necessary to bring more advanced and progress to the area. That is the same way for crypto world. Many altcoins have contributed successfully to the big picture of crypto currencies

[thorvald]

Bitcoin and Ethereum are my absolute favorites and the safest holds, but I think that you are underestimating the utility of some of these other projects. Something such as Populous will allow people to lend to businesses and earn interest on their idle cash.

[FaucetKING]

I totally agree with what you've said.Every company and every organisation is here for money but theres somehow great altcoins and they are facilating the way we send transactions and thats one of the main goals here.
Having alot of altcoins grants a bad effect on bitcoin, thats the bad part.

[South Park]

By the end of the day, those altcoins we invested in will be converted to either BTC or ETH. Thanks to those altcoins, they are created as a substitute to BTC to multiply our investment effectively. If BTC is only the cryptocurrency as of today, i am pretty sure that its blockchain will overload and cryptocurrency will not survive.

Exactly, investing in altcoins is most of the time just a means to an end most people that invest in those coins do not really believe in those projects, they only want to increase the amount of bitcoin and ethereum that they are holding, this is why most of the other altcoins are nothing more than a way to speculate with their money and to try to multiply it.

[APICEMTECH]

Alts have been really harsh on people who had bought them in last year peak of june-july or this year jan. The question the we should be asking is that if is this the end of the bear or whether there is more blood to spill. I would not like to make any new alt investments till I see a clear sign or uptrend, for me that is when btc goes past 12k.

[pageraji]

if you not like pump and dump may be you will be hate almost altcoin and every ICO token, some trader is enjoying profit from altcoin daily because pump and dump..

[bluerose463]

Some clearly are scams, but others are actually useful.  SIA and STORJ let people use their service to store data, Eth and other coins have smart contracts, other coins have privacy in mind.  With Atomic Swaps you can swap coins between blockchains. The list is big.  It's still in its early days.  I'm not all in on alts, but I am definitely in.

[South Park]

Alts have been really harsh on people who had bought them in last year peak of june-july or this year jan. The question the we should be asking is that if is this the end of the bear or whether there is more blood to spill. I would not like to make any new alt investments till I see a clear sign or uptrend, for me that is when btc goes past 12k.

But that is the issue, I know that investing in altcoins can be very risky and you can lose a lot of money but a basic rule of investing is that you need to invest in a market when it is undervalued if you want to make profits and right now the market of alts is undervalued so this is the perfect opportunity to make money if you are willing to take the risk.

[jubellapham]

By the end of the day, those altcoins we invested in will be converted to either BTC or ETH. Thanks to those altcoins, they are created as a substitute to BTC to multiply our investment effectively. If BTC is only the cryptocurrency as of today, i am pretty sure that its blockchain will overload and cryptocurrency will not survive.

[Duzenn]

Yes, most of the time, Altcoin doesn't make any sense.
Most projects are just hype, people just think it's a game of gambling.

[bibi30]

I totally agree with what you've said.Every company and every organisation is here for money but theres somehow great altcoins and they are facilating the way we send transactions and thats one of the main goals here.

[SummerBliss]

Your venting out isn't actually making any point. So what you mean to say is one shouldn't open more companies when other similar products already exist? Metaphorically, Samsung should have never started making phones when Apple was already doing it? Lenovo shouldn't have manufactured laptops when Dell was already doing it?
Please stop complaining. This space is open for every young entrepreneur out there and I am sure everyone will make use of this opportunity to kick start their business.

[Periodik]

It is sad but it is the truth. If ever Bitcoin will eventually fail the taste of the world's population, the reasons would definitely include this concern of yours. Instead of pooling over their wisdom and expertise, some crypto developers and experts prefer to make their own version of the coin they want to succeed. And the worse thing here is that in doing so, they are pulling Bitcoin down, making a bad name out of it.

[Golftech]

Yes, most of the time, Altcoin doesn't make any sense.
Most projects are just hype, people just think it's a game of gambling.

Those newly created tokens are doing this, it's really hard nowadays to find legit coins that have good usage for longer times, the game right now is basing with how the market support bitcoin and how they will deal with earning bigger stake and no longer looking for purposes.

[South Park]

By the end of the day, those altcoins we invested in will be converted to either BTC or ETH. Thanks to those altcoins, they are created as a substitute to BTC to multiply our investment effectively. If BTC is only the cryptocurrency as of today, i am pretty sure that its blockchain will overload and cryptocurrency will not survive.

I think it will be the opposite if bitcoin was the only blockchain working right now then great efforts and money would have been spent on improving the network as fast as possible but since there are many blockchains the interest to do this is very low and this is why it takes so long to see updates to the code of bitcoin, however competition can also be good as we can see by some of the most successful projects in the market.