Are altcoins useless?

[mv1986]

The statement is too general. Yes, some altcoins are useless while others are not. This question won't lead the discussion anywhere. You should specify which altcoins you want to talk about.

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[fosco333]

Now days we have more than 1 000 altcoins on the market. The question is, are people really using them? Frankly speaking only bitcoin, ethereum and monero are used for P2P payments. All others are used mainly for speculation purposes. Is it worth buying altcoins now days? I guess no, because all of them excluding tether are following bitcoin price chart.  I mean if bitcoin is going up or down, altcoins are doing same. (Tether is connected to US dollar rate and used mainly for arbitrage trading purposes) So do we really need altcoins? Regarding platforms, only ethereum is mainly used, and mostly for creating ERC tokens. All others, like waves, neo, etc are used very rarely. Monero is used mosly for shady deals because it is untraceable. (I doubt about that, because one dude who opened a shop on a dark web for selling drugs was cached by police last week. For communication he used 3 level protected VPN and was accepting payments only in monero) https://www.wired.com/story/monero-privacy/ You can read about dark web here. https://www.techadvisor.co.uk/how-to/internet/dark-web-3593569/ days. The main question is: Do we really need altcoins? Or Bitcoin, Ethereum and Monero are enough for crypto comunity this days?

Although many altcoins created for speculation purposes, we just need to avoid using them.
They will die eventually, and become not worth anymore in the market.
We need altcoins, but not all of the existing altcoins. Just using the altcoins that have a real function.

[mersal]

Useless means there is no value for the currency but there are lots of altcoin will be in a good state right now so we can trust some of them for our future we cannot 100% say it will not be valuable for the future but there are some of the good investment are also been here for our future generation to build a good life.

[rijaljun]

In my opinion, some altcoins or maybe tokens are useless because the product of its company isnt ready yet and the value on the market are just speculative. It's last until the product is ready to use and people start using it as utility on their platfroms and then it will be useful.

[Slash61]

Useless means there is no value for the currency but there are lots of altcoin will be in a good state right now so we can trust some of them for our future we cannot 100% say it will not be valuable for the future but there are some of the good investment are also been here for our future generation to build a good life.

I own now avoid short-term investments and investments with a very long period of time. I choose see the market right now, with the market now I don't expect too much, when I've got an advantage then I guess that's enough.

[dhiraj0977]

Most of altcoins today exist in coinmarketcap approximately 70-80% are useless, but you are wrong that only 3 coins were used in transactions, there are many other coins which were used as daily transactions for their individual purposes, one have to chose very cautious on those coins to invest upon.

[Odonko]

I don't know the altcoins you invested into but i do agree most altcoins are actually worthless today because of the bear season the crypto market has fallen into. Among all these circumstances there are other altcoins like BNB, ETH, XRP and if you are looking to invest into any of these coins i think it is a good choice of investment platform.  

[Dr.Sponge]

It depends. Well, if you ask about the use of the altcoin, altcoin would have no uses rather than trading it.

[Chikito]

Are altcoins useless?

no, usefull for me, when got altcoin from my brother, i change into bitcoin asap.

[Cemploon]

Until now Altcoin is very useful and this Altcoin gives a different color. I am lucky now because I have several Altcoins whose values are increasing. Altcoin prices are also influenced by the growth of Bitcoin, so the existence of Altcoin increases competition better.

[BigBos]

Until now Altcoin is very useful and this Altcoin gives a different color. I am lucky now because I have several Altcoins whose values are increasing. Altcoin prices are also influenced by the growth of Bitcoin, so the existence of Altcoin increases competition better.

I think this depends on the products produced by the altcoin. we know that there are so many altcoins at the moment, and we know that each altcoin has a different product and target. it can only be assessed when we see the benefits of the altcoin product really help or are not needed.

[iyah adrian]

There are altcoins that are useful for everyday life and some are not useful for payments. Of course each altcoin has different functions for what. But of all altcoins, of course they have the potential of each community to be traded in the market. So if for payment or other things in real life, of course not all altcoins are useful.

[eann014]

Not all altcoins are useless, in fact, there are more profitable altcoins than bitcoin. Some investors make more profit with altcoins because of its good potential in the market. Unlike bitcoin, bitcoin has a slow movement but at least it is also now pumping slowly. There are some actions that become shitcoins because the project of their ICO is not successful sometimes there are some scams ICO's.

[Lexurdania]

Not all altcoins are useless, in fact, there are more profitable altcoins than bitcoin. Some investors make more profit with altcoins because of its good potential in the market. Unlike bitcoin, bitcoin has a slow movement but at least it is also now pumping slowly. There are some actions that become shitcoins because the project of their ICO is not successful sometimes there are some scams ICO's.

Altcoin movement more attractive than bitcoin. In one day, sometimes altcoin price move more than 100%. Crypto is not about bitcoin and i am believe many good altcoin have good prospect in the future. With good development and more marketing, altcoin is good and potential investment

[Maria Dent]

Every coin in the coinmarketcap or the market is the best coin you can buy because all coins will increase although we don't know how higher the price can go. But it depends on how much money you have and make sure that before you buy any coins, you should analyze and decide to buy a cheap coin or expensive coins so you can directly buy the coins.

As the Blockchain technology evolved, we have countless options in the cryptocurrency list to invest.

Different people will invest in different cryptocurrency.

Before thinking of investing any cryptocurrency, it is important to understand their features and potential in the long turn. In my opinion, the best cryptocurrencies to invest in 2019 other than Bitcoin and Ethereum are Zcash, Dash, Neo, Cardano, Tron etc.

And don't forget to not buy the coin with all in of your money because you need to have free money in your balance to prevent if there are any down for the price so you can buy more the coin.

[trudovik]

It is difficult to say for all the projects that are currently on the market. But I think that there are so many chances to still have real opportunities to evaluate and come to the conclusion that many projects are simply terrible and useless.

[pinoy.bolanon]

Now days we have more than 1 000 altcoins on the market. The question is, are people really using them? Frankly speaking only bitcoin, ethereum and monero are used for P2P payments. All others are used mainly for speculation purposes. Is it worth buying altcoins now days? I guess no, because all of them excluding tether are following bitcoin price chart.  I mean if bitcoin is going up or down, altcoins are doing same. (Tether is connected to US dollar rate and used mainly for arbitrage trading purposes) So do we really need altcoins? Regarding platforms, only ethereum is mainly used, and mostly for creating ERC tokens. All others, like waves, neo, etc are used very rarely. Monero is used mosly for shady deals because it is untraceable. (I doubt about that, because one dude who opened a shop on a dark web for selling drugs was cached by police last week. For communication he used 3 level protected VPN and was accepting payments only in monero) https://www.wired.com/story/monero-privacy/ You can read about dark web here. https://www.techadvisor.co.uk/how-to/internet/dark-web-3593569/ days. The main question is: Do we really need altcoins? Or Bitcoin, Ethereum and Monero are enough for crypto comunity this days?

Nope, every coins or altcoins have different use cases, that is why, it is wrong to say that most altcoins are useless,.its just that they have different platforms with different use cases.

[NynaHoney]

for me altcoin is actually useful for many people with altcoin many people can buy coins at a cheap price but can get good quality and altcoin is also good for long and short term investment imagine if there is no altcoin there might be many people who will have difficulty buying cheap coin so the altcoin is actually useful.

[spike420211]

Most of the Altcoins are really useless, both from a technological and investment point of view. For normal operation, the market does not need such a large number of coins.

[HatakeKakashi]

Most of the Altcoins are really useless, both from a technological and investment point of view. For normal operation, the market does not need such a large number of coins.

Altcoins is useless if the it's not potential and you cannot use it to other like purchasing coin or anything like payment. There is a lot of coins who are useless and I think thousands of them. But the coin who are really useful and potential is only hundred pieces of he altcoind is not useless and you can use it in different way and also you will get a lot of money to them after few years.