Are altcoins useless?

[conanmori]

Mos alt are useless unless they have some good use in blockchain mostly we can see all of them at top100 on CmC but we can still see a good alts that still not getting refine with some good ideas by the devs and if you find it before the price go high surely you found a gold.

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[ongkok87]

it remains useful until whenever because altcoin is also important for all of us to look for income other than bitcoin, so altcoin and bitcoin will always be useful at all times while the two coins still promise results even though there are many new useless altcoins

[ryap12]

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?

If you are calling atlcoins USELESS then you are a very close-minded person. You don't see the potential of other coins out there as you only see bitcoin, ethereum and monero. Note that because of altcoins, investors were attracted and brought the crazy price of the market. There are actually a lot of altcoins out there that are not tied to bitcoin, ethereum or monero just like BNB. BNB or the Binance utility token is mostly bought because they offer benefits into the exchange. Other altcoins out there have their own purpose and agenda so don't say it's useless.

[o.ogurlu]

I think the Altcoins are not useless. Many altcoins are used in different areas. And those used altcoins are not just Ethereum and Monero. Also Bitcoin is not enough for the whole crypto world. Because Bitcoin has not been created for use in all areas of the crypto world. That's why the crypto world needs altcoins. Maybe now, the market has more altcoins than it needs. But in the years to come, I think these dysfunctional altcoins will die. And I believe that in the future, altcoins with a good purpose and vision will be as valuable as Bitcoin.

[moynul2050]

some altcoins are useless, but some are actually very useful.
Not all altcoins are bad and useless, some of them can already be used in several transactions.
and in the end according to the road map they had planned in the future the altcoin would be useful.

[GREENch]

The usefulness of blockchain technologies is undeniable, in my opinion, but the fact that many projects are artificially introducing their own token to raise money for ICO very much upsets me.

[imutlinda]

The usefulness of blockchain technologies is undeniable, in my opinion, but the fact that many projects are artificially introducing their own token to raise money for ICO very much upsets me.

Lots of people are upset when they get a project like you say. but we must have a different view because the project as you say will continue to exist and that's where our analysis is tested. and it should be emphasized that altcoin might bring technological developments in the crypto field

[kalstarzz]

yes, maybe not all altcoins are useful, but with the altcoin it shows that there are still many people who want to develop the crypto world, and we need this altcoin as an investment tool and take part in developing cryptocurrency.

[mv1986]

The usefulness of blockchain technologies is undeniable, in my opinion, but the fact that many projects are artificially introducing their own token to raise money for ICO very much upsets me.

The worst thing is if they later to decide to only use the token for raising money and afterwards not even use it within their platform anymore.

[Cryptolord_ng]

Actually, altcoin are not that useless, they are some altcoin that also have user value apart from Bitcoin, Ethereum and the menero you mentioned above, some token/coin are used for trading on exchanges and some exchange also got the token to use to pay for trading fee on the exchange and some other things

[Zythiphill]

Many projects of course do not have that product which could be used by people , but I think 5 percent of all coins do have a good product!

[PROdotBITCOIN]

Some coins are really useless. I thought that they were created only to enrich the developers. These are empty and unnecessary projects. We must choose more reliable and promising projects for investment.

[Nanagyasi]

There is no doubts that most projects have no real world value and may bot survive but that does not render all altcoins useless. There are several good ones which are doing well in terms of their value and its usage.

[StephenJH]

Some coins are really useless. I thought that they were created only to enrich the developers. These are empty and unnecessary projects. We must choose more reliable and promising projects for investment.

Useless coins are created by developers for scamming purpose somehow. At the end all of them is refusing to list on exchanges and this goes forever.

[sngwinner]

Many have made great profi from altcoins and they still continue to make good money from altcoins investment. Sometimes, it is worrying seeing new projects popping up each day and most without any real world application but several others, whether new or old have great projects and add great value to the crypto world.

[beckspace]

Altcoin projects are in the process of developing an idea for the future,  that is projects continue to be developed. Now, there are not too many altcoin projects for real use of people, but that doesn't mean they won't be used in the future. I think that the Altcoins contribute to the growth of the cripto market and that competition is very beneficial for the development of the blockchain technology.

[GREENch]

The usefulness of blockchain technologies is undeniable, in my opinion, but the fact that many projects are artificially introducing their own token to raise money for ICO very much upsets me.

Lots of people are upset when they get a project like you say. but we must have a different view because the project as you say will continue to exist and that's where our analysis is tested. and it should be emphasized that altcoin might bring technological developments in the crypto field

Re-read my message again, and please do not attribute to me what I did not say. Where it will be verified by our analysis?

[emberbekas]

Some coins are really useless. I thought that they were created only to enrich the developers. These are empty and unnecessary projects. We must choose more reliable and promising projects for investment.

Useless coins are created by developers for scamming purpose somehow. At the end all of them is refusing to list on exchanges and this goes forever.

There are many projects that only take advantage of the situation to make a profit for themselves. Such projects will certainly be useless at the end. But, for sure there are many projects that are truly developed and have real plans to be achieved. Therefore we have to be careful to pick the projects for our investment purposes.

[mv1986]

Some coins are really useless. I thought that they were created only to enrich the developers. These are empty and unnecessary projects. We must choose more reliable and promising projects for investment.

"Some coins" is an understatement. Most of the coins are BS. Just no use case or a copied use case or trying to replace Bitcoin with even inferior technology.

[pungopete468]

I disagree if the altcoin is not useful because until now actually altcoin has a lot of big advantages and it all depends on you how to be able to manage it so that it can benefit and also avoid big risks