Are altcoins useless?

[Pearls Before Swine]

Altcoins are not worthless.

His question was whether altcoins are useless and not whether they are worthless.  You can take a look at any coin's price on an exchange and easily see that a given coin is not worthless.  Uselessness is another concept, and I would have to say that in general most cryptos are useless. 

Take a peek at some of the coins sold on yobit, because they have an enormous number of them that cannot be sold at any price.  They have dead blockchains, no miners, and no one wants to own them.  Those coins are both useless and worthless.  And there are some that sell for a high price but which never get used for purposes other than trading.  My stance on such cryptos is that they are in fact useless even though they can be sold for a profit.

You know a coin is not useless if it can be spent somewhere.  That's my definition of a coin with utility.  Everything else is just gambling money.

[bigmelons25]

Altcoins serve a very real need when you don't want to pay high transaction fees, bitcoin fees can get very expensive during certain times thats why people use alts like eth or ltc.

[Joran_crypto]

This is the only remedy we can do to keep holding our coins for the next green market movement. Selling it today will not be a good decision but if you will invest on bitcoin and ethereum this will matter most in the next bull season.

[2Kool4Skewl]

I think without altcoins we would not be able to earn as much as with them.  It seems to me that even Bitcoin does not bring so much profit like ethereum.

[mace15]

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.

Agree, never keep those shitcoins so always choose the best project that is worth it. Not all altcoins are worthless there are still a legit and profitable. Some altcoins may worthless because of no demand in the market so better think before invest.

[Alohadanc3]

I don't think that all altcoins are useless. In this market most of the coins are altcoins. In last few months we saw many scammed  IC0s and many cryptos which is backed by bones. Most of the failed project management was good somporyke fine. But in all of this there are project that works for the good.  This kind of people go for any country service. They have nothing to do with this single person. So be careful whenever they are dreamer then run whatever her can

[jonaire99]

I hold some of the seemingly useless coins that come from different airdrops which are still no value and hoping that I can be able to use them in the future. There are also numerous coins and tokens that listed in different exchanges that has no real value at all and they need to be delisted soon. But not all altcoins are useless, a lot of them can be use in many different purposes, so if you want to own some of them, research them first and find the valuable ones.

[joromz1226]

Altcoins whenever will not become useless. This is the reason why still there are many communities remain stand here in this business industry. Even We are faced bear market, but still majority of the people here got their profit because of altcoins and that's the truth and reality things happened now.

[Xalata]

Unfortunately most altcoins have become useless ever since bitcoin really reduced in price and this came about because most of these altcoins that were generated had no real use in the real world. Also, the token economics of most ICOs are poor and are not structured appropriately to bring value to their utility coin.

[Initech]

Some few altcoins (just the legit ones, not the scammy money grabbers made to enrich their creators only) are really providing some interesting features that Bitcoin only currently cannot offer. But honestly, I can't see any other than Litecoin, Monero and MAYBE Ethereum (because so far, I honestly didn't saw any other use for Ethereum than creating useless tokens and selling them in scammy ICOs).

[princeyeboah]

Altcoins are not useless. There are numerous altcoins on the market with real life usage. Coins like the doc.com MTC is used to patronize and access quality basic health care services online, 4NEW KWATTS is a coin serving as a major facilitator within the 4NEW energy creation ecosystem. Not all altcoins are worth investing in because they may lack what it takes for a coin to last on the market, hence do thorough research before investing.

[indika]

there are thousands of alt coins but many not providing actual use.so im just investing on top 20 coin of coinmarket cap thats the safe and best way to invest.but you must consider 20 to 10 list too they are the top gainers

[DainSLane]

I do not believe that altcoins useless in fact they are most profitable for many investors because of large quantity and development of altcoins is also faster but we must not consider that all altcoins are getting successful in the future.

[Stella_btc]

Try the top ten cryptocurrencies by market capitalization, excluding Bitcoin. Most of the time, the entire crypto market for Altcoins will move in the same price direction as Bitcoin but on steroids. The list will change over time, so it will be a good idea to monitor for the latest list on a monthly or quarterly basis. Sell all those tokens which have fallen off the list and switch to the new tokens that have made it to the list.

[94K]

Why are you saying that? Alcoins are never useless. There may be times some altcoins turn out to be shit however, they are still worthy to invest and gain profit

[Jenkins33]

You can not talk about all the new coins that they are useless. At least some of them can make money on speculation.
However, only 1-2% of new projects that appear every month are really useful.

[Jenkins33]

I stopped paying attention to new altcoins and tokens six months ago. For me, a few dozen coins are interesting, for which I observe and trade in them.

[thuthanh]

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?

Even though the crypto market is getting a lot of Altcoins every day, and not all of them will survive and become useful. These good and quality altcoins with the same purpose will obviously exist and develop. So in my opinion, about 30 percent are useful and long-lived with time. I think that we need the altcoins for the development and innovation of the market improvements in human life.

[spydee1522]

Altcoins are not useless and I repeat with all confidence that altcoins are not useless. Everything is a process and I trust there is always a room for improvement and every step is a ground for taking other decisions. I believe in the development of altcoins and consider it not useless.

[cryptjh]

yes, most altcoins are useless, but with a good PR team and a lot of money to back the tokens up, some of them have found their way into top100, we don't need thousands of payments solutions, we just need bitcoins and a small handful of other coins. Most of the altcoins we trades are just pumps and dumps.