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Author Topic: Are altcoins useless?  (Read 19017 times)
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February 12, 2019, 11:34:22 PM
 #61

I'd like to have few crypto's in the market, this can maximize the potential of each coin. If its just bitcoin, Ethereum and monero it's a good choice IMO. But you just can't please everyone and as long as there's a competition and market, people will keep on creating altcoins to compete to the existing ones claiming that they are better.



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February 12, 2019, 11:37:07 PM
 #62

Of course not. Altcoins aren't useless. Although a significant amount of altcoins are complete cabbage, You will agree with me that there are still a handful of altcoins have have been useful to the cause ~ Create the digital economy. There are many altcoins that have made great progresses in a bid to get crypto out there to the mainstream world. I wouldn't mention names.. I just want to make it clear that Altcoins aren't entirely useless like most people and bitcoin maximalists would think.

I might say some are worthless and some arent, even though the team behind a company who created a specific altcoin aims to grow, and apparently fails, then we can call it as worthless since it doesnt give us anything in return.

 
 

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February 12, 2019, 11:37:38 PM
Merited by Vaculin (1)
 #63

Nope disagree what do you want to elaborate this for altcoins as useless coins, I would want to know people out there every altcoins have an usage especially in trading by doing of this they select different coins from the market for day to day transaction. With out altcoins i think bitcoin not become stronger.

Altcoins are contributing a lot into crypto space and it give us options what coins we wanted to used but as we know also that some of them were just nothing to give. Altcoins are created after bitcoin as to give support and that is some reasons why investors have encourage to be here just because fo altcoins were potentially profitable before but it change by now and only few of them will have such potentials.

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February 12, 2019, 11:45:13 PM
 #64

Actually we don't really need them because they are still lack of function and many expect applications in the real world. Even Bitcoin itself only gets very little role in that, especially altcoins. It may be untimely or indeed it will never be something that is "needed"

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February 12, 2019, 11:49:53 PM
 #65

Altcoins is not useless because Altcoins have great contribute in crypto so before you said that altcoin is useless you should give some proof. Yes, we know that some coins can't survive especially bear market but it doesn't mean that Altcoins is useless.

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February 13, 2019, 02:58:44 AM
 #66

I think there needs to be a correction now that many ICO projects are running on the EOS and Tron platforms. The market mechanism will then answer that question, because in fact the top 3 are Bitcoin, Etherum and Ripple. Every coin and token offers attractive functions so that they attract or benefit investors

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February 13, 2019, 03:08:15 AM
 #67

Don't just look at garbage coins and suppose that whole Altcoins are useless. Cryptocurrency needs more time to form applicability environment. Let's wait

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February 13, 2019, 03:13:59 AM
 #68

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?

I think you were right, there are too many altcoins created in this crypto space. and most of them are just useless altcoins.
And also there are many that are creating those scams altcoins deceiving many people/investors, making them loosing their trust on cryptocurrency.
I hope in the future, the condition would be better where all crypto are trusted and fully usable for any need.
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February 13, 2019, 03:20:48 AM
 #69

Some of the altcoins maybe useless buy you need to study well before you invest your money. There are a lot of altcoins that will gain popularity in terms of usage by the people. I think there are a lot of undervalued altcoins but there's nothing wrong if you put money on it as long as you study it. Who knows when you invest 100$ than turns in to 1k or 10k$. Just dig in more information of the altcoin that you want to invest.

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February 13, 2019, 04:35:43 AM
 #70

No, I don't see altcoins as useless. There are many opportunities in altcoins even if the market is not recovering yet, only if you have the knowledge and idea on how you will make altcoins useful. Alts can be used in many ways and earn good profit.

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February 13, 2019, 05:15:39 AM
 #71

The main function of almost whole Altcoins now is just holding to earning profit but in the future, when the cryptocurreny market more grow, the applicability of Altcoin will be shown

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February 13, 2019, 05:25:59 AM
 #72

IMO, I don’t think all altcoin are useless. These altcoin are developed for a purpose and each of them has their community and users. And I agree to the point that some people use the altcoin for the purpose of speculation, however this is something similar to forex. Some people use fiat currency for spending and some people trade fiat.
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February 13, 2019, 05:30:21 AM
 #73

Alternate coins are not useless or should I say not all alternate coins are useless.  Truth is that many of this altcoins will die off possible because of no real use of them.

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February 13, 2019, 05:37:27 AM
 #74

Out of the 1000s altcoins, there are quite a number with use case. So, I don’t think all altcoins are useless actually.


Quote
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.

I do think it is worth buying altcoins. Most of the better altcoins dipped hundred to thousand % from the ATH, whereas Bitcoin dipped around 80%. I believe when market recover, the altcoins will be pumping harder. 

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February 13, 2019, 05:41:31 AM
 #75

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?


I do not agree to you! There are users like me who also using altcoins in my daily lives. Altcoins are not just for trading, it can be also use in transactions as mode of payment. I know that there are more altcoins that are really useful in our economy.

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February 13, 2019, 07:13:35 AM
 #76

Yes, altcoins are useful because we need to use in utility purpose in different industries.
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February 13, 2019, 07:20:57 AM
 #77

The truth is not all altcoins are useless,coins like ripple ,electroneum etc have huge chance of real life use in the future ,I accept the fact that more than hundreds of these coins are plain useless but too many that have the advantage that others don't have

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February 13, 2019, 07:31:10 AM
 #78

Alternate coins are not useless or should I say not all alternate coins are useless.  Truth is that many of this altcoins will die off possible because of no real use of them.
Most of them have no real usage and i should agree with it and even the altcoin which created product doesn't mean if that will be massively adopted by the ordinary person. Maybe some can create a useful platform that used altcoins as the main feature but there's bunch of them have nothing to say about that.

playboy654
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February 13, 2019, 07:32:26 AM
 #79

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?


people are always thinking like that that Bitcoin only be the life changer but the experience to people will make the investment and all other various cryptocurrencies so my opinion is not only Bitcoin is important for development of Crypto market but also some of the good alt kinds are also there for developing our life and this market.

vasilev456
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February 13, 2019, 08:42:31 AM
 #80

Altcoins are not useless as you say, among them there are promising projects that are used and will be useful in the near future!
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