Are altcoins useless?

[RohitMalhotra123]

No altcoins are not useless because we need patience in crypto market & wait for right time to earn good rewards. Altcoins value totally depends on the position of market & value of bitcoin.

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[nebuch]

I think it is simple

Assuming altcoins are useless then why included ethereum and Monero with bitcoin as useful???

Two sides of crypto's which is shitcoins and potentials.

[Freescan]

because the market is not good, many say that altcoin is useless and vice versa when the market is in good condition, many praise the altcoin because it can be profitable. I think altcoin is still useful, even I invested my money in several altcoins such as eth, eos and Neo. altcoin is useful because the price is affordable.

[SwiggHeart]

Im not sure if altcoin is very useless these days since they are just following the bitcoin trends. Investing in altcoin means you invest in bitcoin.

[Sunyoto]

I think most Altcoin is also profitable and also very useful for everyone to make profits in trading, so they will also make profits in a short time.

[Yurkov]

I think most Altcoin is also profitable and also very useful for everyone to make profits in trading, so they will also make profits in a short time.

Unfortunately, but trade and speculation that is the only way how most altcoins are used for. In real life, they will not be useful.

[jsgonzales]

You are asking the wrong question.. How many altcoins are useful, that's how i would plaint this question. And the answer is - just few. The problem is that even these few are undervalued. For example, https://www.tradingview.com/symbols/GOBTC/?exchange=BINANCE Gochain's ROI is 0,54x in USD..  

[erkan.camli]

I think there must be altcoins. But altcoins that really serve a sector should stay in the system. For example, there should be projects in the health sector or supply chain. I think the altcoins that focus on a specific sector will be successful. Most of the projects currently emerging are scam. They don't even need a whitepaper. so the altcoins seem unsuccessful. altcoin that serves the purpose will be successful.

[Thanasis]

I think it is simple

Assuming altcoins are useless then why included ethereum and Monero with bitcoin as useful???

Two sides of crypto's which is shitcoins and potentials.

There are lot of cryptos were here which is more harm for the crypto market to survive in long term because when the market capitalization get diversified the value of coins gets lesser.But not all altcoins were useful there are many shitcoins here to bump and dump only.

[Ranly123]

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?

Each altcoins has different platforms and different usage. If Bitcoin, ethereum and Montero are most commonly used for P2P transactions, other altcoins are used in different way. So don't bother yourself knowing all platforms because it's too many to mention.

[HichemFetoui]

No I m currently all in altcoin a lot of project are undervalued in the altcoin world with a great working product and have more utility than bitcoin good luck for all

[Ezenwanyi]

Some of the altcoins are very useless not only to tge Cryptocurrency market but to the advancement of the blockchain technology .
Although there good altcoins that a very useful and are bringing on sophisticated products or measures to rebranding the blockchain technology for wider adoption.

[babicena14]

In my opinion, many altcoins allow you to make much more profitable payments. Making payments with Bitcoin, Ethereum or Monero implies high fees and lower speed than, for example, with XRP or Dogecoin. In addition, not all altcoins were created as a means of payment, but these projects carry innovations in one or another sphere.

[rijaljun]

Until now, I cant find a real product from any project which conducted a tokensale or ICO. Altcoins on the market are full of speculation and uncertainty. Seems like people are struggle to implement blockchain with a businessman or maybe it's just me can't find anything or maybe project with real product are just less transparency.

[Bittalk12]

There are many reasons why we have thousands of altcoins existing as of today and still counting, that is because they are created to compete with the service provided by a well known altcoins, claiming to have faster transactions, partnerships, used to scam an investors, etc. All cryptocurrencies next to bitcoin are called altcoins and they have different purposes. We need them to get more bitcoin in a faster way by means of trading or holding. Some altcoins also offer better service than bitcoin.

[ElenaN]

Everything depends on the coins themselves, but as a rule, if the project turned out to be interesting, then there is a demand for its product, therefore it is impossible to talk about all the coins like that!

[goaldigger]

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?

Not all altcoins are useless, but i think within the total of a hundred of altcoins existing, almost 20% are useful. The rest arent that much famous, a scam or projects which have beed down because of lack of investors. Plus, only the top 20 altcoins are well known. The rest are just an accessory.

[desticy]

By and large, yes, most of them are useless. The vast majority of scam projects. They simply used their coin, which the project does not always need, to collect investments. And now they hang out in the market dead weight.

[Bdstar]

Sorry to say but I think yes.All other coins except Bitcoin,ETH,Monero,Doge are useless and dumb.I really couldn't get any help or profit from other coin.But this is not mean that I don't want that any other coin came to market.I want some great altcoin arrive at market but I don't know how they will co-operate with these top level coin of market.

[Crypt0Pro]

I partially agree with you. There too many altcoins now and not all of them are useful. Smart people try to develop their new coin, believe that it will solve some problem. But in fact, most of new ICOs are either failing or scam projects. Maybe there should be more strict regulations concerning ICO start-ups, then the losing projects will fail at the starting point.