Are altcoins useless?

[xvids]

Not all of them are useless we could see that there are still useful alt-coin out there.
And you could always visit the CMC to check the top 100 crypto .
It is a proof that not all of the alt-coin are useless and worthless.

[leetcoiner]

In general, I believe that it is the Altcoins that make a profit in the world of cryptocurrency.  If you think that Altcoins are useless, it means that you did not use those Altcoins.  It is necessary to choose correctly and then there will be a sense.

[akitha]

how do you say altcoins are useless? maybe those altcoins that you are talking about gives you profit ... mostly good altcoins to invest are on the top 100 in cmc.. none of the altcoins are useless 

[sumangs]

It depends on the coin usage and the ICO's working product. Some projects doesn't really need a blockchain to perform its function so some that are less promising doesn't get a full support from the crypto community. Another one is the working product, some investors are always expecting a profit after the altcoin listed on exchanges and some are utility tokens that really need to have a working product to be usable, saying that it was totally useless. If the ICO is good on those two factors its altcoin won't be useless since I have experienced many of the ICO that lack those. So as a fellow investor we should consider that two if we really want a fast profit but if you are willing to wait then disregard those.

[Rimueng tuha]

The number of altcoins is indeed very large but only potential altcoins are actively used by the players. Many altcoins are useless because technology is just a duplication of the previous altcoin. People actually use only a few altcoins and not all of them. Indeed, the technology carried by altcoins is what really determines the altcoin to get a position either on the market or not. If the presence of a new altcoin only adds to the garbage in the market, then the altcoin development team should think long term about a coin if they want to create the coin. For me, it's better to improve the technology of existing coins than to create new coins again because we will build people's trust from the beginning again.

[Nuxxorcoin]

That's a really funny question. It's embarrassing to discuss this issue here. To say that altcoins are dysfunctional is the same as saying that all countries in the world except America are unnecessary.

[aliceHortrex]

There are altcoins really useless I totally agree with you.  But there are those that make a profit and you need to very carefully choose a coin because now there are a lot of scams.

[Dima95]

Altcoins are for the most part very profitable. Because if you are engaged in trading, then you can invest very profitably and it is very profitable to get money back. Therefore, I think that all this will be very profitable in any case.

[Sultanar484]

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?

Altcoins aren't useless. Maximum altcoins are good and well financial background, although you may find few shitcoins. This shitcoins may vanish but real and strong coins will worty.

[Kelvinikke]

Well  most altcoins that have been generated into the crypto kingdom are actually worthless now because most of them had no substantive use case which could be adapted into the real world where people would actually use their products to keep the value of their utility token regulated so that they don't get dumped when listed on exchanges.

[GREENch]

In the last few months I have been using DogeCoin if I need to quickly transfer funds from one exchange to another. Fast transactions, and about the Commission does not make sense to talk)) So limit yourself to those coins that were mentioned in the first message does not make sense.

DogeCoin is one of the best altcoins for the fast and cheap transactions. and it's only one example. many altcoins are used for some purposes.

It was the first thing that came to mind after reading this topic. And so you are right, there are a lot of projects, the same PundiX (in my opinion) is an excellent project with progressive development.

[syamster]

Altcoins are for the most part very profitable. Because if you are engaged in trading, then you can invest very profitably and it is very profitable to get money back. Therefore, I think that all this will be very profitable in any case.

Maybe some of them are not profitable coins but most of them are profitable,. Market is full of coins, as we can see there is bitcoin, ETH, ripple, and so many other altcoins, but I only prefer and I suggest all my friends to invest in bitcoin, for me bitcoin is the best coin and it has huge demand in market as well, so many people recently have become milliners  because of holding bitcoin.

[ivanserfg]

Billion of money already deposited in lot of altcoins so its not useless for me. But many of tokens and altcoins that have been not have any volume is already useless for me and people not buying them anymore.

a billion is not an indicator for the cryptocurrency market, its capitalization will soon reach a trillion, so it will be interesting there, movement, heat, joy and disappointment

[cryp24x]

What do you mean by useless? Is it worthless or totally no use at all? Sometimes we really need to determine the worth and essense of creating an altcoin. Some altcoins are really worthless in a sense but it is not useless because some projects was known by their tokens or coins. That is their real purpose.

[waitforme]

The amount of Altcoin list on Coinmarketcap increases daily through the ICO or IEO. Many Altcoin has no potential to still be of interest to many investors because they know that controlling prices helps them earn a considerable profit. The development team used the money to inflate prices and then sell the tokens that the group owned before disappearing forever.

[angel55]

The amount of Altcoin list on Coinmarketcap increases daily through the ICO or IEO. Many Altcoin has no potential to still be of interest to many investors because they know that controlling prices helps them earn a considerable profit. The development team used the money to inflate prices and then sell the tokens that the group owned before disappearing forever.

Even coins that have no purpose can skyrocket in value so maybe they do actually have a purpose and that is gambling.

Its crazy how many coins there actually is, I can maybe name 20 or 30 off the top of my head.

[asradoni]

The amount of Altcoin list on Coinmarketcap increases daily through the ICO or IEO. Many Altcoin has no potential to still be of interest to many investors because they know that controlling prices helps them earn a considerable profit. The development team used the money to inflate prices and then sell the tokens that the group owned before disappearing forever.

Even coins that have no purpose can skyrocket in value so maybe they do actually have a purpose and that is gambling.

Its crazy how many coins there actually is, I can maybe name 20 or 30 off the top of my head.

However, they seem to me useless. Is it possible to speculate on this? Of course. But this does not negate the fact that they have no assignments.

[MonsterV]

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?

In my opinion, every altcoin has its own features, monero has its own special features, neo has its own, etc. All are unique altcoins.
Moreover, altcoin developers always hold hardforks to improve their coin features, and of course they will continue to grow and increase. There's nothing wrong with the altcoin, what's wrong is shitcoin.

[Nivelir]

I am sure that today many projects have good successful goals, but promises are not always really achieved, therefore in most cases I am sure that there are scam projects that are not really good and will not implement anything.

[Thermytee]

To me there are two types of altcoin, the main altcoins and the shitcoins. If you keep the shitcoins then you're on your own as it has no future. It may be relisted by exchanges without any notice which leaves you hanging. Some altcoins are making sense with high volume in multiple exchanges. It's now left to you to research and invest in the right altcoins.