Are altcoins useless?

[IPVPIRL]

Most tokens aren't even needed and instead of solving a problem they actually create an extra one, becoming the middle man for services others provide.
Almost 99% of altcoins are useless and inferior to Bitcoin and they are created with sole reason to enrich the people behind it.
There are thousands of ICO's that provide nothing and are actually defrauding investors.

History suggests that 99% of alts are going down to 0.

[pics4crypto]

Indeed, 90% of altcoins are useless.  But no one says that everything.  There are really good projects.  Just need to spend a little time to find them.

[mamahdedeh]

Lots of altcoins on the market and all of these altcoins are not used. Only certain altcoins are used actively on the market. Only altcoins are potential and can survive in a market that can last long on the market. Maybe only about the top 100 altcoins really have a good and useful future. Many altcoins are only on the market as garbage. Altcoin which is useless in this market is very difficult to compete with other potential coins and will only make the market more shit coin. I myself feel the real benefits of only a few coins. I have a lot of coins but it doesn't really have any real benefits

[OptimusPrime_3]

Was less expecting to see a topic like this. But this should be quite clear to the poster. Altcoins are not useless except that people made it seems so. If you say they are useless, then xrp,etc,ltc etc are all useless and I am sure that's not what you meant to say.

[Iykecollins]

The crypto market is still evolving and it is quite early to write of altcoins, the truth is that no one knows where this will eventually lead to, whether bitcoin will remain as relevant as it is or there will be alternatives to it which will eventually talk over and solve the whole necessary need for crypto

[Bitze]

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?

the mass of altcoins is really bad. it makes for outsiders an unmanageable picture and even if
you read regularly news and the forum it is not possible to stay up to date. there are also a few beads but the majority is unfortunately a rivet

[bekkioPEK]

98% of the altocoin are useless and many are projects started and abounded by the team that created them. removed some "historical" altcoins that were born as an improvement of the Bitcoin (even if they didn't succeed) or that had particular uses, the rest is stuff for pumps and dumps and other speculations.

[Fredomago]

Indeed, 90% of altcoins are useless.  But no one says that everything.  There are really good projects.  Just need to spend a little time to find them.

Needs to spare time to find those who have some future to survive and become usable in the long process, there's some alts who also following the movements of bitcoin and creating its own name inside the crypto industry, needed to research and understand each potentials.

[Christinebeauty]

I can't defend all altcoins though but at least I know of a few that are truly solving real world challenges. When crypto is fully accepted and utilize by most people, that is when the actual use case of those coins would be noticed

[Bramuro]

We buoy not add that altcoins are vain. Of line much a immense measure of what is represent in now 's marketplace is not essential. On the other hand this does not signify that each altcoins are vain. Thither are various captivating and favourable casts, much as Vocalise Cash Currency.

[DarkIT]

I can't defend all altcoins though but at least I know of a few that are truly solving real world challenges. When crypto is fully accepted and utilize by most people, that is when the actual use case of those coins would be noticed

not all altcoins are useless, and I think some coins from altcoin are quite useful for some people, or many people. well, for now there are so many coins that compete and have similar functions. when a coin grows rapidly, then other coins that have similar functions will become useless if they are not developed.

[sakuragi21]

There are some alt that are really useless. And these are belongs to shitcoins. But you can't say that all altcoins are useless too. BTC, ETH and a lot more alts like Dencoins proves that not all the alts from the cryptomarket are useless. Here upon joining to their project you can be benefited, and you can invest a good investment in the near future.

[selectaselectine]

It depends on the usage. Most of altcoins from ICOs are utility token that is why you think it as useless. Take note that utility tokens is only valuable once there is a product from the ICO project. If you feel that it won't have a price just dump it somewhere like decentralized exchanges and I'm sure many will take advantage on it. The time will come that the altcoin you sell will have a value greater than you sell and you will surely regret it. Better let it rest on your wallet until the product will be release before you tell that it is a shitcoin.

[whirlcoin]

The main question is: Do we really need altcoins?

First of all, it was quite difficult to read your.. text. You should learn to format it, really.

Now, altcoins are not useless. They are at least a wonderful training ground for new ideas. Some of those ideas are incorporated into Bitcoin, some of those coins become used by themselves.
Maybe you know that Ethereum or Monero were not the first altcoins. Monero was not even the first cryptonote coin!

Also you are wrong about only BTC-ETH-XMR being accepted. There are other altcoins accepted here and there. Not so many, I know, still, more than nothing. So we have to give them a chance (of course, I talk here about the legit new coins, not about the useless forks or clones).

maybe the future will not give the hands for the altcoins to develop then only we can talk about this but right now it may giving the right hope for everyone to invest in it so it's not worry about the future to be not good for the investors in altcoin.

[abs350]

I believe that altcoins are needed and they are very useful, but you just need to remove a large number of them because a lot of bitcoins are useless and unnecessary on the market not only prevent normal users from making money, but you can leave the top ones to use them further

[Malamok101]

Fow now altcoins are still there so we can't say its useless because the price keep growing at this past of months very lucky for those people believe and hold for it.

[cribusen]

They are not useless at all and I still cannot understand why people are still investing all their money into BTC instead of investing in the future. Some altcoins are already offering several times more faster and cheaper transactions.

[ATSgrowth]

Experts are saying that 99% of altcoins will die due to no use case. And I am starting to think so too, I am sick of all those useless utility tokens that have collected tens of millions of dollars in the ICO phase and since now no platform was created. (I am talking about projects that held ICO in 2017)

[forexandcryptoauditor]

Regarding the future of altcoins, Not all but definitely some altcoins will return to zero which is not having development as per the roadmap.
Many projects have started with full confidence but due to bad market conditions, could not raise enough money and impacted the entire development of projects.
Blockchain technology has attracted many startups and foundations to it and the market capitalization fixed them to transform into it.
Due to bad market conditions in 2018, many projects could not even gather the funds which are required for product development. So most of them are not fully developed and due to lack of funds and undeveloped products, it getting difficult for them to list on big exchanges.
This in results very less demand for their tokens which is causing even further depreciation.
I see more than 50% altcoins will not survive if the same downtrend of the market is getting continued for the year 2019.

[Unfunnybtc]

Experts are saying that 99% of altcoins will die due to no use case. And I am starting to think so too, I am sick of all those useless utility tokens that have collected tens of millions of dollars in the ICO phase and since now no platform was created. (I am talking about projects that held ICO in 2017)

Almost all tokens are just a means of speculation. I do not think that 99% of the tokens will disappear so easily, because from time to time bitcoin falls in price and at these moments traders and other market players begin to buy altcoins to get some more profit due to speculation.