Are altcoins useless?

[Dennicex]

I don't think that alt coins are useless. Cause without Bitcoin and some coins, most of the coins are altcoins in this market. And I think we need altcoins not too much but many of them. Cause they comes with new ideas and that is very important for crypto currency and Blockchain technology. So we can test the limitations of Blockchain. And of you observe you will see that as a investment altcoins are good of they are backed up by good project. They give more profit than Bitcoin at the mean time. But also they are risky too. So be careful and always do your own research before investment.

I also do not think that altcoins are useless coins. Many altcoins have unique technologies or unique ideas. They are just not as popular as Bitcoin. But I am sure that many projects have very good prospects. There are a number of projects that I consider very promising, such as Sound Money Soin.

[mornabo]

A lot of altcoins are useless, but there're plenty of good ones that have an actual purpose, but we don't need as many tokens. Ethereum is one of them.

I quit agree with you as regards ethereum and some few others like, EOS , Elasto, Ontology of which I know,but there are so many shitcoins out that are worthless, because the original project idea and team could not be delivered it.

In recent years, a huge number of really high-quality and unique projects have been created, of course there is much more garbage, but everything is not as deplorable as it seems at first glance, altcoins are not garbage!

There are a lot of projects coming in, and if it is not balanced with mass adoption there will certainly be a lot of worthless altcoins because they don't have many users, even many altcoins don't have demand on their market, many useless altcoins, but not all. just keep selective in choosing coin.

[jrrsparkles]

I don't see it becoming useless, maybe you just misinterpret the way it looks like today and to see also a lot of altcoins being buried. We've never make to generalize cause there's a lot of altcoins that are worthy to hold and for investment as well. They are now the becoming a good assetn in the community today and too positive that it will show more in the future.

THis is what makes the altcoins as useless at some stage because the altcoins are also found to be used as means of payment but most them were just used as an investment so it is just another bump and dump coin the view of a trader so this keep decreasing potential level of altcoin even if they are good for future's realistic usage.

[bogdasha07]

Some altcoins provide very interesting and innovative ideas: like BitTorrent https://cmc.io/coins/bittorrent-token or Bee token https://cmc.io/coins/bee-token, for example. I do believe they offer a lot to modern technologies and blockchain industry.
So despite a huge number of scam and unworthy projects, altcoins show us new ideas and solutions

[The Cryptovator]

Not all alt coins are useless. There are few Altcoins that you might use like bitcoin but quantity is very low. Most of altcoin is useless because there is no uses except trading on digital exchange. Since world still not accepting crypto-currency easily that's why need more time to use Altcoin. On the other hand most of altcoins team is silent and they are not trying to make any opportunities to spend their coin. In that situation only trading is the purpose of altcoin.

[posi]

There are too many useless altcoins in crypto space but there are many altcoins too that you will regret not buying when market price start surging so it's all about how well you DYOR

Firstly, i want to clarify the OP question that altcoins are not useless if they are Satoshi wont have the bitcoin protocol available for all. Concern your statement, the availability of many useless altcoin is logically because blockchain is a broad network but it the investors that need to be more careful.

[pushups44]

I agree that there are too many altcoins, but not all of them are useless. I would say the vast majority of them are, so investors must be very selecting and do deep research to find the gems. I go for the higher-ranked alts.

[e@symode]

This also happens because there are projects that raised money but forgot to say that they will not do anything with the project and that this is a hoax. Of course all this is called scam projects. We all know and understand this.

[rawdog11]

My simple answer is no, not all altcoins are useless. Most of them are.

Some altcoins do push the boundaries of what is possible, are looking to get new and exciting algorithms and ways to save power in mining, implement great features etc.

They need a legitimate development team and to be active.  Most alts were just a moneygrab and people bought in during the hype but lacked substantial development. They also took advantage of people new to the crypto space.

[Labumi]

This also happens because there are projects that raised money but forgot to say that they will not do anything with the project and that this is a hoax. Of course all this is called scam projects. We all know and understand this.

I think lately I often see a number of projects like that and there are also those who already have a plan program that can be seen from the road map, it turns out that it is not in accordance with what is on the road map and finally many are lost and disappointed with the project.

[I Like Bitcoin]

The bulk of the coins are useless coins that have no real value. And the time will come when more than 90% of all coins "disappear." Then a simple user will know the true uselessness of such coins.

[AdamRay]

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 altcooin was created to help the crypto market grow a lot. Because alcoin is representative of ICOs. It represents the development and potential of those ICOs. That helps attract investors and develop crypto market a lot

[Robotbitcoin22]

The bulk of the coins are useless coins that have no real value. And the time will come when more than 90% of all coins "disappear." Then a simple user will know the true uselessness of such coins.

The average is due to the selection of the market itself, especially if bitcoin has experienced a substantial decline, this is very likely to occur where the altcoin has no value

[Zuxe]

Not all altcoins are absolete. It's very much depends on the sort of ICO project. If an ICO strive for success and eventually thrive, I think it's coin will have value.

[Andrey13101991]

Not all altcoins are absolete. It's very much depends on the sort of ICO project. If an ICO strive for success and eventually thrive, I think it's coin will have value.

Now it is difficult to understand which projects will really succeed and which will die over time. this market is not very predictable for everyone

[danielchris]

Although there are many different types of altccoin in the market. But l am not agree with you at this point all altccoins are useless. But some of them lost their value in the market due face different types of problems & not successful to maintain projects. That result they could not attracted the investors. But no doubt we rgain knowledge of market through altccoin. I think so.

[Joran_crypto]

You might be confused regarding which cryptocurrency can potentially provide you 100x returns. Before investing in any of the above digital currencies, it is better to do your homework - research the cryptocurrency, blockchain, and development team behind it.we can already see the rising trends of different cryptocurrencies in the blockchain industry. 2019 is going to be the year which is set to change the picture from bearish to bullish. Historically, people use to watch the stock market trends in terms of wealth creation, but now the focus has shifted to top long term cryptocurrencies.

[juragane]

Although there are many different types of altccoin in the market. But l am not agree with you at this point all altccoins are useless. But some of them lost their value in the market due face different types of problems & not successful to maintain projects. That result they could not attracted the investors. But no doubt we rgain knowledge of market through altccoin. I think so.

in theory, if we see altcoins that have the same function, they are not much different from other road maps in general. But strong altcoins have a clear path to strengthening profits directed at fluctuations in their coins on the market. If this is not achieved, then they can be sure they fail and their coins are useless. But you are right about the knowledge and experience gained, especially between traders, investors, and developers.

[karma_project]

I think some alternative coins are very useful. The idea of these projects can significantly improve people's lives and solve some global problems. That is why I support alternative coins.

[Sum24]

I agree that now the number of useless coins has increased. But we cannot do anything with these unless we create this trash, who still continues to do this. But there are good winning coins.

Agree there are some alts that has no value but we cannot say all of them are the same, actually value of project and the value of the project matters, as we know some powerful altcoins such as bitcoin, ETH and ripple that has high value in market so new altcoins have to face difficulty in competing them and developing among investors as everyone supports only bitcoin and ETH the most.