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Author Topic: Why consider Altcoins?  (Read 411 times)
bitcoindusts
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August 26, 2018, 12:12:55 PM
 #1

There's a fierce competition among cryptocurrencies but the main headline will always sport altcoins pitted against bitcoin.

When sense of popularity dictates that people invest in bitcoin, why do we really have to consider altcoins?  How far have altcoins really outsmart bitcoin in brains and brawn in the recent years? Let's take a quick look (and for the reason of not wanting to promote a specific altcoin as the best, allow me to mention only their capabilities and not the altcoin itself).

There is this altcoin out there that took the carbon footprint of bitcoin out by periodically releasing coins instead of mining them (which was a happy news to the eco conservatives).

Then there is also an altcoin that could create a block way faster than bitcoin. When bitcoin confirmation takes an hour on an average, this altcoin can confirm your transaction in minutes.  And to outweigh that speed, another altcoin promised instant transactions with payment confirmation in less than a second.

We also have altcoins that guarantees complete privacy hiding all substantial private data safely (best for those who want to keep their anonymity in place), and an altcoin even promised ring signatures, a unique technique to keep transactions untraceable.

And just as with bitcoin, there exist altcoins that allows global payment with no need for any central authority.

Altcoins, in one way or another, did outsmart bitcoin. Offering new or better features that may or may not be an integral part of bitcoin in the future.

But perhaps, we will only see an altcoin surpassing bitcoin should we find all of the abovementioned features rolled into one single altcoin. And such thought is really exciting in every aspect.
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cryptolovers990
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August 28, 2018, 07:58:37 PM
 #2

If we think about altcoins then it is faster and we can get fast exchange facilities based on some altcoins gives fast returns on investment is than Bitcoin which is also good also some altcoins are very much effective in the market and have good response.
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August 28, 2018, 08:18:27 PM
 #3

Altcoins are the alternative to Bitcoin. They were made with the aim to surpass bitcoin. But, unfortunately no all coin could ever surpass Bitcoin. Bitcoin was the first discovered cryptocurrency and it still holds almost half of the total market capitalisation. There can never be an alternative that matches the level of Bitcoin.
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August 28, 2018, 08:23:17 PM
 #4

Altcoins are also important, they are the remaining captivators of the market dominance after the big slice attributed to Bitcoin so we should look at altcoins because they too are important.
cryptocamacho4785
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August 28, 2018, 08:36:55 PM
 #5

Altcoins are faster to transact and the work is done quicker in the exchanges too. On the plus side, they do bring in more returns of investment quicker than BTC. Plus there are a lot of altcoins which serves a good alternative to BTC if they are hard to attain.
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August 28, 2018, 09:04:16 PM
 #6

Altcoins are here for an alternative to BTC. Although nothing can beat BTC, but sometimes they are tough to attain given the demand it holds in the market. Also, they are quicker with less transfer fees than BTC.
yugyug
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August 28, 2018, 09:15:24 PM
 #7

ALTCOIN stands for ALTernative-to-bitCOIN which try to give another option it has to offer where the Bitcoin can't like faster transaction speed, lower transaction cost, cheaper value, flexible circulating supply, more secure, more private but none of them has able to surpass bitcoin because BITCOIN was already established as a household name.
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August 28, 2018, 09:37:13 PM
 #8

Even though the altcoins are going through a tough time in the market, but that does not make them useless. Altcoins are somewhat better and faster, when BTC is tough to get our hands on.
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August 28, 2018, 10:22:03 PM
 #9

Indeed, Altcoins are the best one to be tried by the newbies in this market. Definitely, altcoins are getting popular day by day. But that doesn't mean bitcoin is losing popularity. Bitcoin is the strongest one in this market and this alone can make this industry change overnight.
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August 28, 2018, 10:25:29 PM
 #10

Not everybody buys altcoins for speculative purposes, sometimes they actually believe in the value proposition of the product and hence want to see that product realized through the contributions. It's definitely a hard time for altcoins in terms of trading and ROI right now, but that doesn't mean that all those funded ICOs are going to produce nothing of value. Very few ICOs operate for the sole purpose of generating revenue for their users, they actually have utility functions that are not measured in profit.
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August 28, 2018, 11:06:43 PM
 #11

In terms of trading, altcoins are really suited for daily trading as you can take advantage of their volatility, and also have a big variety of them too.
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August 29, 2018, 09:17:38 AM
 #12

Still the bitcoin will be dominating over altcoins. That is the harsh reality. Because the whole market is controlled by big investors and I think they won’t let the altcoins to get over Bitcoin
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August 29, 2018, 09:57:15 AM
 #13

There's a fierce competition among cryptocurrencies but the main headline will always sport altcoins pitted against bitcoin.
yeah, it is funny when you look back and see the coins that were compared the most with bitcoin have always been the shittiest coins that eventually died!

Quote
When sense of popularity dictates that people invest in bitcoin, why do we really have to consider altcoins?
there are basically two main reasons:
1. newbies thinking they have missed the "boat". for example they were saying last year that since bitcoin is now $1000, it is too late to buy it so they should buy shitcoins. and then BTC went to $20000 and they were saying the same. and in the future BTC will go to $100000 and they will still say the same while losing money in shitcoins.
2. traders who want some place to invest their bitcoin and increase it. altcoin market with its pumps is one of the better places.

Quote
There is this altcoin out there that took the carbon footprint of bitcoin out by periodically releasing coins instead of mining them (which was a happy news to the eco conservatives).
in other words premine  the altcion 100% and then distribute it in the least fair manner. most of them even pull scams during the distribution and fill their own pockets.

Quote
Then there is also an altcoin that could create a block way faster than bitcoin.
in other words increase the size of the total blockcain at a much faster speed and end up centralizing nodes. also have more number of orphaned blocks and less security of the chain. not to mention the losses that the miners sustain because they blocks are so commonly invalidated.

Quote
When bitcoin confirmation takes an hour on an average,
WRONG. it takes 10 minutes on average.

Quote
this altcoin can confirm your transaction in minutes.
WRONG. there are coins with a couple of seconds blocks. i believe ETH has 13 second on average.
also WRONG because 1 confirmation of bitcoin (10 min average) is equal to a lot more of confirmation on other coins (eg. 1000 confirmation hence 1000x time) for security and finality of your tx.

Quote
We also have altcoins that guarantees complete privacy hiding all substantial private data safely (best for those who want to keep their anonymity in place), and an altcoin even promised ring signatures, a unique technique to keep transactions untraceable.
there are about 2 dozen privacy coins and only a couple of them have true privacy Cheesy
i also have no idea what "ring signatures" is, i am intrigued to check it out. thanks.

Quote
Altcoins, in one way or another, did outsmart bitcoin.
none of the things you said so far prove this.
the only thing that comes close is "privacy" of anon coins which can be seen as an "optional" thing which not everyone even wants.
additionally we will soon have full privacy of transactions with Schnorr on bitcoin LOL

Quote
Offering new or better features that may or may not be an integral part of bitcoin in the future.
there are features that can be better but none of the things you said here are like that! the things you listed here are only things the pumpers are interested in to pump a shitcoin more for a little while and then dump it and move on.

Quote
But perhaps, we will only see an altcoin surpassing bitcoin should we find all of the abovementioned features rolled into one single altcoin. And such thought is really exciting in every aspect.
of course we will but not until people stop caring about pointless things such as faster blocks without thinking about consequences.

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August 29, 2018, 10:07:08 AM
 #14

With altcoins I think traders stand to make more money and that's why the altcoins keep on coming every other day and a lot of them have been successful too, that's apparent. SO I don't see why NOT altcoins?
BALIK
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August 29, 2018, 03:10:44 PM
 #15

Altcoins have always been in a battle against Bitcoin, and it’s a push and pull struggle. Most of the time, when bitcoin climbs so too do the altcoins, it’s very rare that you will see Bitcoin go deep into the red whilst altcoins climb against it, in fact, I actually don’t think has EVER happened. I think that the great majority of altcoins are complete garbage, but there are a few (around 10-20) that really have great potential, and I’m looking forward to seeing where they go. Elastos is one, I have high hopes for it.




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August 29, 2018, 03:46:25 PM
 #16

Altcoins have always been in a battle against Bitcoin, and it’s a push and pull struggle. Most of the time, when bitcoin climbs so too do the altcoins, it’s very rare that you will see Bitcoin go deep into the red whilst altcoins climb against it, in fact, I actually don’t think has EVER happened. I think that the great majority of altcoins are complete garbage, but there are a few (around 10-20) that really have great potential, and I’m looking forward to seeing where they go. Elastos is one, I have high hopes for it.

I think so. The other reasons why we would consider altcoins is to have an fast transactions than Bitcoin and of course we consider it because it give to us a huge amount of profits. A lot of good potential altcoins here and with a great platforms that I know it would very useful in the future.

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August 29, 2018, 05:50:06 PM
 #17

Yes, you are right, now many people are getting attached to the altcoins because of the fact of high value in bitcoin. Altcoins are getting its popularity among the newbies because of the advantages you have shared with us. Bitcoin is for those who are experienced and have enough knowledge about this market.
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August 29, 2018, 05:54:20 PM
 #18

IMO every people have their own judgement about altcoin.
Some people can say about their altcoin have advantage compare bitcoin for example : faster , cheaper, stable , etc.

For me, I consider altcoin for investment purpose because if you lucky enough , you can obtain significant amount of profit in short time !

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August 29, 2018, 05:57:56 PM
 #19

If all the features above really can be found in any altcoin then it will definitely put some impact. But I have doubt on it. And bitcoin has a huge network in crypto market and its leading. So let’s see what will happen next.
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August 29, 2018, 06:06:59 PM
 #20

I don’t find any good reason for considering altcoin over bitcoin. The facts you have told above will not impact on bitcoin as bitcoin is always lead the market and all other coins depend on it.
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