Are altcoins useless?

[UniversityCoin]

I'm not sure, but the crypto market does not need thousands of coins and tokens. For the successful existence and development of the crypto market enough several hundred diverse coins. Therefore, I would remove all the coins that are not in the top 500.

[Sanitough]

I'm not sure, but the crypto market does not need thousands of coins and tokens. For the successful existence and development of the crypto market enough several hundred diverse coins. Therefore, I would remove all the coins that are not in the top 500.

I disagree, that depends on the number of demands, this market is improving as adoption is increasing, so we need more platform for better competition.
There are bad projects of course but we can find legit as well, what we have to do is just to read some feed back and research on a certain project before using their or investing with them.

[lizaangel321]

There are a lot of Altcoins now, because someone wants to make money. They do not need as many of them, there is no need for them, especially since they are not stably much more than Ether and Bitcoin. Now everyone wants to release his alcoin and make a lot of money on investors. But it is better to stabilize bitcoin and ether more

[joromz1226]

Maybe for others altcoins are useless it is because some of it that they hold was down into zero value or no volume in the market.
But for me, altcoins here are like an opportunity were it can give profit to anyone here in the forum as long as the coins has a potential
strength in the market.

[Dark Ripper]

Are altcoins are useless? How can you said that altcoins are useless? Don't you really know that some of altcoins have a great price or the value of some of the coins are really very huge? I started in altcoins and now I am earning very well so that how would you say  that altcoins are useless? Stop thinking about that. If you think that altcoins are a stupid coins you can used it also as an investing in which you can invest it and earn well. Or make an investment and used it as a tool to play some games in order for you to play games and you can also earn money by just playing of it and because of that you are earning while playing.

[19Nov16]

Not all altcoins are useless. there are so many altcoins almost as good like bitcoin. it depend on the project and usage of the coin.

Most altocins that don't have a product look useless, this is what makes the project die because it doesn't have a clear purpose, altcoins that have products certainly can last for a long time.

[Raymondavid47]

That's True some of the altcoins are actually abandoned projects. The numbers of altcoins are just increasing almost everyday. New projects promising and not achieving.

People buy some coins like Neo or Nexty because there is fee charge for transferring tokens.

[pics4crypto]

Altcoins are also useful.  It is they who grow and fall, they will help you earn in the long-term and short-term investment.  But there are also useless as pacifiers, which no one needs.

[Iykecollinz]

Those that are specific with providing a form of payment system alone are in this category, there are so many crypto systems that are providing payment systems and bitcoin and etherium are already top on the list. Any altcoin that wishes to be useful should be more innovative and solve other real life problems aside being a payment processor.

[Moore234]

We can say altcoins are useless,  they are good altcoins that has good potential that maintain the market value even with bear season. You just got to study the project in which you wanna invest in to.
 

[Maamejane]

Many out there are useless and they are just hanging in the crypto community for nothing positive. In addition there are also some strong alts coin that mean business from day one just get involve with those ones and you will see the worth of Altcoins. Unless you invest in these coins Altcoins will always be useless for you.

[DarkEagleMan]

I also think that this economy could subsist perfectly with a few cryptocurrencies, which in practice is happening tacitly: it is enough to check coinmarketcap to realize that only the first 10 cryptos occupy 90% of capitalization, while all the others have to subsist with only 10%.

Now, we must be aware that the vast majority of these listed altcoins are not true coins, but tokens, and in that case many of them do have a justification to be created to solve a problem or for a practical and very specific use.

[JuanPaulo]

New Altcoins appear almost every day and are there any, among them, one who would attract the attention of a large number of people with their idea or finished product? I have not seen a single new and useful altcoin.
Therefore, in my opinion, most of the new altcoins are not needed.

[Firunner]

Many altcoins are useless, we're not going to lie. They are the effect of projects having an unclear vision and understanding of the space as well as a lack in experience and ability to get things done. Many might have potential in the idea, but in the end it's about having a great product that solves a real problem and then having a community behind it!

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[gilangIDR]

No, many altcoins have good abilities. Many altcoin developers support their coin development.
But when compared to the total outstanding, there are still a lot of shitcoin and coins that are not valuable.
We only need to choose the right coin to make an investment. Investing in Altcoin has good potential to make a profit.

[Gab20]

Some developers try to create coins that can be used,  most especially for shopping, but some of them are seen not to last long, why because the adoption is very low.
Lot's are the altcoins are just meant to enrich the developers, who leave and abandon them after they might have got what they wanted. This then affect other coins that would have been very useful, but got dejected and rendered useless due to the previous encounters.

[Abiky]

Altcoins are needed in any quantity. And I do not mean speculation, but the fact that competition is the engine of progress. If the altcoins disappear, the developers of basic cryptocurrencies will make less effort to improve their developments.

Exactly. There needs to be diversity in the crypto space for Blockchain technology to mature. If Bitcoin were the only cryptocurrency in existence, things would've been worse since network load will be a lot higher than what it is right now (not to mention, development will only be focused in a specific area). With altcoins, new features can be experimented with, while at the same time, the network load would be lower on the main Bitcoin blockchain.

The competitive nature of cryptocurrencies will largely benefit Blockchain technology in every way possible. Now that we have hundreds of altcoins on the market each with their own unique features, people can choose one from the other. The emergence of fee-less and privacy-focused cryptocurrencies, will make things more interesting in crypto land.

Nonetheless, most altcoins are useless these days since they're quick money grabs by their developers. Only a select few altcoins with active development and innovation (like Ethereum and Cardano), are quite useful for the mainstream world. Just my opinion

[Lexurdania]

No, many altcoins have good abilities. Many altcoin developers support their coin development.
But when compared to the total outstanding, there are still a lot of shitcoin and coins that are not valuable.
We only need to choose the right coin to make an investment. Investing in Altcoin has good potential to make a profit.

A lot shitcoin but i think a lot good and legit altcoin and worth to invest for long term. Ethereum for an example, its good for bussiness and used by most token in market. Many good altcoin and worth to invest and could compete with bitcoin in the future

[bitcoinst]

Large global corporations create their own blockchains to regulate their internal processes, which means that all blockchains we currently have may be of little interest to one degree or another in the future.

[efxtrader]

No, many altcoins have good abilities. Many altcoin developers support their coin development.
But when compared to the total outstanding, there are still a lot of shitcoin and coins that are not valuable.
We only need to choose the right coin to make an investment. Investing in Altcoin has good potential to make a profit.

A lot shitcoin but i think a lot good and legit altcoin and worth to invest for long term. Ethereum for an example, its good for bussiness and used by most token in market. Many good altcoin and worth to invest and could compete with bitcoin in the future

Indeed, a lot shitcoin but it doesnt mean all coin are not worth to hold. There is a lot altcoin worth to invest and hold for long term and i think altcoin like WAN, ICX, or ELA is worth to buy and hold for long term. I am believe many altcoin beside those three are legit and profitable coin. What we should do before make investment is always doing research on the project and developers team