Can someone explain to me why altcoins are worth money?

[jerry0]

People say almost all altcoins are scams... some people say 95% whereas others say 99%.


Now we all know bitcoin isn't a scam because its a store of value and because you could cash it out for real money.  The same can be also said of litecoin etc.   With litecoin, to me its like the discount version of btc.  But still its a way to pay or transfer funds to other people.  ETH to me is where i'm perplexed.  ETH on the other hand, its the platform where other coins use etc.  If thats the case, why is ETH worth money?  Why is anything besides BTC, Litecoin even worth money?


I will post a list of altcoins as examples


1.  dash
2.  monero
3.  edgeless
4.  funfair
5.  shift
6.  substratum
7.  deeponion
8. electroneum
9.  powerledger
10  Whitecoin, bluecoin



Now lets look at the altcoins.  Some coins do make sense that its worth money because the have a purpose.  Dash is digital cash so to me, thats like btc/litecoin.  Monero on the hand is a privacy coin.  So why is a privacy worth anything?  Now lets look at a coin like edgeless and funfair.  These are casino coins.  I understand why they are worth money because their business is an online casino.  Thus if the online casino gets more customers and make more profit, those coins are worth much more right?  But what does confuses me is for people to play at the edgeless and funfair casino... first off... has the edgeless casino even opened yet?  The funfair casino already has right?  So basically for someone to play at the funfair site in the casino and those other online gambling games, they are basically playing with funfair coins.  Can someone confirm this?  If yes, this makes sense why its worth money.  If not, what are these coins worth money?



Now here's a few i want to talk about.  Shift and substratum are coins where they are looking to dencentralized the web.  Im not sure exactly what that means but i believe its to make it more private right?  So basically the web is not private even if you use something like vpn or TOR?  I never used TOR but i heard a lot about it.  So why would owning coins like shift and substratum even go up?  If the internet gets decentralized by one of these, then these coins are worth a lot?  If so, why would the price even go up?  I have no idea why it.  Can someone explain why?  I heard lisk does something similar.  But why would these coins go up in value?



Also coins like deeponion and electroneum.  People talk a lot about them.  But what are the purposes of these coins really.  Why is it worth any real money is my big question to all of this.  



Also a coin like powerledger which had people talking about it because its backed by the Australian government.  Can someone explain why this having to due with solar power has a purpose?  What confuses me is this solar power they talking about... is it related to online or real life?



Also there are coins like whitecoin, bluecoin, greencoin etc.  Are people just making up names for coins or something?  What is even the purpose of coins like this?  There's a coins like faircoin and noblecoin as well.  I mean what is even the purpose of coins like this.  I mean can't i just create a coin called jerry coin or something and then say the purpose of this coin is ... then you make something up?



But even for those coins that are in the top 50 that are not BTC, litecoin, dash etc... what is the purpose of these altcoins?  Why are they even worth real money?  Yes you can sell these altcoins for btc and then sell it for cash and it hit your bank account.  But i dont really understand why any altcoins that isn't like money worth anything.  Like why is ETH even worth anything when its a platform?

[MadGamer]

A lot of people fail to read the whitepaper, don't believe in whatever they are investing in, don't do a background check on the team and yet, invest.

Why? because people are not educated. It's all about the hype. His favorite YouTuber make a sponsored video about an ICO and he decide to put all his life savings there. He see a score x/5 in an ICO rating system and he decide to invest.

People should understand that most of these coins are a pure scam. If whoever is creating these coins was interested about coins and creating a Bitcoin v2.0 he would've contributed to the original source code instead of taking people money to do so.

So as long as people are not getting educated, demand will remain and coins will continue to get sell even If they are have no purpose.

[khendjer]

Now lets look at the altcoins.  Some coins do make sense that its worth money because the have a purpose.  Dash is digital cash so to me, thats like btc/litecoin.  Monero on the hand is a privacy coin.  So why is a privacy worth anything?

Imagine that you have a hidden camera at home which shoots you constantly and which has been installed by a stranger. You know that the camera is somewhere at your home, it constantly records you, but you don't know where it's been installed and how a stranger can use the video recordings of you. Will you be able to live a good life and feel good in such a case? Would you be ready to pay someone who knows how to find and turn off the camera? I think the answer is obvious.
Privacy does worth something now and definitely will cost a lot of money in the future.
Even Vitalik Buterin has recently made a statement that he's been wrong with his stance to privacy, he'd revised his attitude to it and became more pro-privacy than he'd been before - https://www.reddit.com/r/ethereum/comments/8m3wj1/rothschilds_in_crypto_goodbadneutral/dzmspgv/.

[Encelad]

Indeed, many altcoins are worthless. Perhaps in the future after the digital revolution in the world economy when the usual money will be replaced by cryptocurrencies, most of the shitcoins will simply disappear. There will be no more than 100-150 cryptocurrencies.

[freedomno1]

A lot of people fail to read the whitepaper, don't believe in whatever they are investing in, don't do a background check on the team and yet, invest.

Why? because people are not educated. It's all about the hype. His favorite YouTuber make a sponsored video about an ICO and he decide to put all his life savings there. He see a score x/5 in an ICO rating system and he decide to invest.

People should understand that most of these coins are a pure scam. If whoever is creating these coins was interested about coins and creating a Bitcoin v2.0 he would've contributed to the original source code instead of taking people money to do so.

So as long as people are not getting educated, demand will remain and coins will continue to get sell even If they are have no purpose.

Essentially this, it only takes PR and marketing to get an individual to buy a product that is why Instagram users can make so much pumping something up and there are Kim kardasian's and other famous youtube celebrities who make a fortune advertising and product promoting.
People buy off other people they trust
Then they buy off value and usage

Essentially you can market anything even if it is something people don't understand if someone they have rapport with shills it.

[420moviez]

On ethereum platform as have already told, many projects opens, the set of ICO is carried out. To take part in ICO it is necessary to have available ethereum and for these coins to buy tokens - it is called token economy if it is well adjusted, then the token has the good price.

[Jonsnowstark]

Before investing in altcoins you must need to have knowledge and already searched about the platforms of the coins you wanted to invest. You don't just invest your money with the coin you like and without having idea about the coins. Don't you just look for the coin that has promising proposal but doen't have the capability to stand out. You need to be wise enough before investing.

[Dolapoemmanuel]

the problem is that most people, investors particularly don't read whitepaper before investing in a project, they don't check on the teams and ask questions on the icos before investing. most of them don't even know what the project they are investing on is all about and they don't know anything about the project and they keep investing their life time on it.

investors should make thorough checkings before investing, they should read and understand the whitepaper very well and be able to be sure if they are on the right phase or not

[meanwords]

Let me answer why Ethereum has a value. First of all, there's a lot of other tokens which is under Ethereum. Those tokens have values depending on the way it was delivered, it could a currency for services that a company offers, or it could be a dividend for something. Since those are under Ethereum, they would need Ethereum as a way to function. For example, a machine needs a source of power to move. Let's just say that Ethereum is the source of power of those Tokens. That's why Ethereum is worth money. Same goes for other coins. They have value because people like the services they offer like privacy and such.

[Julien_Olynpic]

Any asset is worth the money if people are willing to buy it. If you are a scammer and make a scam-project, then your project is worth the money if people buy it. As soon as your asset ceases to buy, it ceases to cost something

[fuer44]

because altcoin starts from a project developed and supported by many investors for the success of the project. and its value will increase if the project is successful, that's what makes altcoin so valuable even though the price loses from bitcoin.

[jjeeppeerrxx]

A lot of people fail to read the whitepaper, don't believe in whatever they are investing in, don't do a background check on the team and yet, invest.

Why? because people are not educated. It's all about the hype. His favorite YouTuber make a sponsored video about an ICO and he decide to put all his life savings there. He see a score x/5 in an ICO rating system and he decide to invest.

People should understand that most of these coins are a pure scam. If whoever is creating these coins was interested about coins and creating a Bitcoin v2.0 he would've contributed to the original source code instead of taking people money to do so.

So as long as people are not getting educated, demand will remain and coins will continue to get sell even If they are have no purpose.

Exactly! Most of us are lazy when it comes to reading which is the most important thing to do before deciding to invest in an ICO that is why most people were following someone especially those who are famous person and immediately trust that someone making a review or posting a blog hyping people about certain ICO project. People must insert some effort thru reading and researching to avoid the big risk in investing the hard earned money!