Are altcoins useless?

[Loedong]

There have been hundreds of coins and tokens to die because of the red market conditions for a year, of course many investors are sorry and losers like me because of holding shitcoins and this is what makes the future of crypto difficult.

Current conditions are not very good for Altcoin, especially those that are still in the initial stages of launch so there are many altcoins that die.
but this does not mean that altcoin is useless because some altcoins are quite developed in this condition even though the development is very small but they are able to survive so that if the market is better then the altcoin that can survive will develop faster.

not only altcoin but also bitcoin. I think that poor market conditions can affect the development of altcoins, but altcoins that have many users at least still have prices, in contrast to new coins or old coins that don't have price movements can say coins are dead. the market needs a big push to increase the price of bitcoin and other altcoins.

[bhabygrim]

Not all of the alt-coins are useless but most of the new ones are,
You just have to invest in the one who have been proving their worth in the crypto world for a long time.
We have to secure our money and put it only in those who are worth it don't be fooled by the promise of some people with their alts.
Just because there are some bunch of useless alt-coin that doesn't mean that all of the alt-coins are .

[dang thi bich thuy]

I think not all Altcoins are useless. So I predict that about 30 percent of Altcoins are born with the achievements and technologies we deserve and they are very useful for our lives and they will exist. Only Altcoins no have a way and no development strategies will be eliminated and die.

[dimonarka]

I can not agree with you as the purpose of each altcoin in solving the problems of the scope of the project. Yes, there are projects that do not do anything, but simply gather funds for the purpose of further enrichment, and if I were you, I would just take a closer look at some projects.

[PuertoLibre]

The biggest financial assets are used for different purposes and there will be more assets related to the same section of the economy. I often check the use case of altcoins in different parts of the crypto ecosystem but an only a small percentage of  ICOs is required in real life.

[Fammosh82]

I have a legitimate concern about altcoins. While I’m sure a many of the projects have a well intentioned development team, the incentive structure is a little suspect. They’ve already been paid.

While money is only one means of motivating people, unless the project becomes something personal for a developer I’m not sure what will prevent them from moving on to something better when it comes along.

Bitcoin has become something else. Ethereum is personal for Vitarik. I get it. Not sure about many other projects. That’s why even with well intentioned projects. I have concern. And for the record I am invested in many altcoins.

[minersday]

If your description of useless is based on the prices of most altcoins or the rate at which its prices fluctuate then I don't think I will agree with you on that. Most altcoins have the aim and purpose of improving the services provided by the top cryptocurrencies. Some also present solutions to gaps in the world. Altcoins are very needed in the crypto space..

[dupee419]

Useless? Altcoins have given us the proof that we need them, Bitcoin alone is not enough, not enough for everyone, Altcoins are not here because their objective is to replace BTC, that's what many people think of but what altcoins are is for us to explore more, altcoins aren't useless they are indeed important in the market.

[Chika08]

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 alternate coins are useless. If you say so then it is assumed that ethereum, ripple and other top coins are useless. Point is that many of this coins will die off in the long or short term

[Cellerex]

Altcoins should have an idea. First of all, there should be a unique own idea that will explain what the project is and what it was created for. Otherwise, this coin is not needed by anyone. That is why for example I was interested in the project Sound Money Coin. It was his ideas. I believe in future similar projects!

[jan.nicolas]

Many projects today have no sense in use, they are simply not developed and are not used by anyone at all, I think that they are probably just forgotten and will not be used anymore. Therefore, I think it is very strange, no matter how it was there.

[kevinzxz]

I don't think all altcoins are useless, it's just that the altcoin project might not be finished yet, so we have to wait until the project is finished and we can find out whether the altcoin is useful or not, because I believe altcoin will be very useful in the future, but not all (only a few).

[stfN2128]

There are many useless coins and tokens out there. There is no need for this mass of coins. The good thing about a bearmarket is, that the shit projects gets washed out. You see the dedication on projects which are moving forward, also when the price of their coin is down 99%  

I'm not telling you that every altcoin is shit, there are some good ones in the crypto space with real usecases. 

[miklesm]

Most people buy cryptocurrencies not to use it, but to earn money on it, so altcoins are not spread widely at the moment. Maybe the situations will be changed in the future.

[imsotiredofmoviereboots]

If you worry about the hundreds of thousands of coin that exist and will exist then please don't. These projects are still like in the incubation stage and they are the future tech industry that will top off giant companies someday. And when that time comes, we will witness the competition on these altcoins like it's 'may the best man win' but instead it's the project and not the man.

[Kodok Bencot]

It can be said that 90% of altcoins are useless, too many coins are certainly confusing and this is what is used for scam, crypto is too free and easy so we must immediately make strict regulations.

[Gorel12]

A lot of the coins and tokens created in the crypto world are completly useless and will not success but there are many great alt coins that can end up doing well in this market.

[pishite]

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?

Coming to the supermarket, we have bonus cards on which points lie, thanks to them we get discounts. Bonuses are the local currency that is valid in the store, and the main payment is in national currency. Altcoins act in the same way, they create their own world in which they sell their services, goods using coins (tokens). There are interesting projects that will show themselves from the good side in the future and will bypass monero, btc, ethereum.

[Ochakemaput]

It can be said that 90% of altcoins are useless, too many coins are certainly confusing and this is what is used for scam, crypto is too free and easy so we must immediately make strict regulations.

actually not confusing if they are clear and not altcoin coin bins. too much altcoin because many industries and businesses that exist in the world that begins with blockchain and crypto. We can't blame this. they created their own crypto platform for development.

[Brunus]

Anything is changing very fast, so most projects - even good - are already old when they start.